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Southco Introduces its Next-Gen Captive Screw


HONG KONG SAR – Media OutReach Newswire – 13 September 2024 – Southco Asia Ltd., a subsidiary of Southco Inc., a leading global provider of engineered access solutions such as locks, latches, captive fasteners, electronic access solutions, and hinges/positioning technology, has introduced a next-generation 4D Captive Screw, featuring a self-aligning knob and increased tolerance.

4D Captive Screw
4D Captive Screw

The 4D Captive Screw is designed for both customer and manufacturer convenience. Customers keep all the benefits of captive screws, such as easy ergonomic operation, clearly marked touch points, and the lack of small pieces during removal. Meanwhile, manufacturers can enjoy the usual wide range of installation options and head styles, all while simplifying their installation process. 4D Captive Screws feature a self-aligning knob, so there is no stabilizing plug to remove after installation. Additionally, increased tolerance allows manufacturers to install multiple press-in screws at once without worrying about minor height differences.

The 4D Captive Screw also available in a variety of knob styles, and supports many different installation methods. Standard nylon knobs are available in black, green, and blue, with additional custom colors available on request. These knobs are designed to be comfortably operated by hand, but are also available with No.2 Phillips, T10 TORX, and T15 TORX recesses for easy tool operation.

This versatility combined with time-saving innovations for manufacturers make the Southco 4D Captive Screw a fantastic choice for those seeking to provide convenience for customers while simplifying their manufacturing process.

For more information about the 4D Captive Screw, please visit www.southco.com/4D-Captive-Screw or email the 24/7 customer service department at info@southco.com.

Hashtag: #southco #screws #SMT #timesaving #touchpoint #manufacturing

The issuer is solely responsible for the content of this announcement.

About Southco

Southco, Inc. is the leading global designer and manufacturer of engineered access solutions. From quality and performance to aesthetics and ergonomics, we understand that first impressions are lasting impressions in product design. For over 70 years, Southco has helped the world’s most recognized brands create value for their customers with innovative access solutions designed to enhance the touch points of their products in transportation and industrial applications, medical equipment, data centers and more. With unrivalled engineering resources, innovative products and a dedicated global team, Southco delivers the broadest portfolio of premium access solutions available to equipment designers throughout the world.

Digital Business Lab Strengthens APAC Presence with New Office in Shenzhen, China


HONG KONG SAR – Media OutReach Newswire – 13 September 2024 – Digital Business Lab, a Hong Kong-born social media agency with 11 years of expertise across Asia, is pleased to announce the opening of its new office in Shenzhen, China.

This expansion builds on the agency’s established presence in Hong Kong and Singapore, marking a significant step in its efforts to deepen connections within mainland China and further establish its role in the evolving APAC social media landscape.

The opening of Digital Business Lab's new office in Shenzhen, China
The opening of Digital Business Lab’s new office in Shenzhen, China

“Last year, 40% of our top clients were mainland Chinese tech companies seeking support across Southeast Asia and globally; therefore, we logically seized the initiative to set up a new branch in Shenzhen to closely serve our new clients and partners in their strategic expansion,” says Albin Lix, Founder and CEO of Digital Business Lab.

The agency has successfully run campaigns in over 13 Asian countries, serving over 200 brands from the technology, finance, luxury, food & beverage industries and beyond. This includes supporting brands like Alibaba, DreameTech, and Ant Financial in building their presence across different Asian cultures and regions and assisting Chinese companies like DreameTech and Ant Group expand their global reach.

The office will further allow Digital Business Lab to immerse itself in the Greater Bay Area’s tech culture and social media ecosystem, offering clients enhanced opportunities for collaboration and growth.

Albin Lix added, “In the first half of 2024, we leveraged platforms like Xiaohongshu to drive engagement for major events such as the AIA Carnival and Hong Kong Rugby Sevens, capturing fresh interest from mainland Chinese audiences. With our new presence in Shenzhen, we are poised to continue aligning marketing strategies with business objectives, helping clients across the APAC region shorten their conversion funnels and achieve tangible results.”

As Digital Business Lab expands, this growth reflects geographical expansion and the agency’s ongoing commitment to helping clients shorten their conversion funnels by aligning social media strategies with business goals across the APAC region.

Hashtag: #DigitalBusinessLab


The issuer is solely responsible for the content of this announcement.

Digital Business Lab

Digital Business Lab creates business-driven experiences that engage communities, excelling in social media strategy (organic, influencer, paid), creative productions (Video, Live Streaming, Design), and Web 3.0 experiences (NFTs, Metaverse).

The agency operates from Hong Kong, Singapore, and Shenzhen offices and delivers impactful regional and global projects that drive innovation and connect audiences worldwide.

Hong Kong Innovative Tech Emerges on World Stage Fueled by HKSTP Global Booster Programme


HONG KONG SAR – Media OutReach Newswire – 13 September 2024 – Hong Kong Science and Technology Parks Corporation (HKSTP) brought its inaugural HKSTP Global Booster Programme to a successful conclusion, marking the end of a milestone event in which some of Hong Kong’s brightest startups made their name in Silicon Valley.

Mr Albert Wong, Chief Executive Officer of HKSTP (fourth from right), Mr Derek Chim, Head of Incubation and Acceleration Programmes at HKSTP (third from right), Ms Pheona Kan, Director, Business Development at HKSTP (fourth from left), pictured together with the five startup representatives including Ms Liz Wang, Chief Business Officer of HK Leadus Innovation (first from right), Mr Tony Ip, Co-founder, RaSpect (second from right), Mr Eddie Yu, Co-founder and CEO, ÖKOSIX (second from left), Mr Daniel Lo, Founder and CEO, GoGoChart (third from left); and Mr Albert Lam, Co-founder and CMO, Novelte Robotics Limited (fifth from left)at the graduation ceremony of the inaugural HKSTP Global Booster Programme.
Mr Albert Wong, Chief Executive Officer of HKSTP (fourth from right), Mr Derek Chim, Head of Incubation and Acceleration Programmes at HKSTP (third from right), Ms Pheona Kan, Director, Business Development at HKSTP (fourth from left), pictured together with the five startup representatives including Ms Liz Wang, Chief Business Officer of HK Leadus Innovation (first from right), Mr Tony Ip, Co-founder, RaSpect (second from right), Mr Eddie Yu, Co-founder and CEO, ÖKOSIX (second from left), Mr Daniel Lo, Founder and CEO, GoGoChart (third from left); and Mr Albert Lam, Co-founder and CMO, Novelte Robotics Limited (fifth from left)at the graduation ceremony of the inaugural HKSTP Global Booster Programme.

The initiative saw five pioneering Hong Kong tech startups take part in a rigorous six-month training and US market expansion programme in the global heart of innovation and technology (I&T). In doing so, they introduced groundbreaking innovation in fields from AI to green tech to the global stage, securing contracts and investments worth over US$15 million (approximately HK$117 million) in total, along with numerous business and investment leads.

A group photo among the five startups participating in the HKSTP Global Booster Programme with Mr Rahim Amidi, Co-founder of Plug and Play (fifth from right).
A group photo among the five startups participating in the HKSTP Global Booster Programme with Mr Rahim Amidi, Co-founder of Plug and Play (fifth from right).

The programme is part of HKSTP’s efforts to empower homegrown startups to seize global business opportunities. In partnership with global innovation platform Plug and Play and other investors and partners, it provides comprehensive training, business development and fundraising support tailored to the needs of individual startups. The goal is to help startups establish a strong footing not only in North America but in other international markets as well and secure support from investors and strategic partners.

Mr Albert Wong, Chief Executive Officer of HKSTP, said: “I am immensely proud of the achievements of the five startups which is a testament that Hong Kong startups have the capability to make their mark at a global level. It has always been HKSTP’s mission to propel the success of our partnering companies. We look forward to catapulting more and more of our startups to shine on the global stage and create impact in the world with their innovative solutions.”

The five participating startups, partners of HKSTP’s incubation and acceleration programmes include: HK Leadus Innovation, dedicated to the research and production of new vacuum-insulated glazing building materials; ÖKOSIX, manufacturers of biodegradable medical-grade materials; RaSpect, providing AI solutions for smart cities and building inspections; Novelte Robotics, which specialises in developing intelligent robots; and GoGoChart, developers of an AI-powered digital advertising management platform.

HKSTP is preparing for the next wave of the HKSTP Global Booster Programme in 2025. The forthcoming cohort will expand significantly to welcome involvement from a total of 10 startups. As HKSTP continues to gather pace as a catalyst for innovation and collaboration, these efforts promise to raise Hong Kong’s position in the global I&T ecosystem, driving success and opportunities for emerging entrepreneurs.

AppendixFive Hong Kong Startups participating in the HKSTP Global Booster Programme

Startup Description
GoGoChart An award-winning digital marketing agency based in Hong Kong, the company has been a rising force in the industry since its founding in 2016. Specialising in cutting-edge digital marketing solutions, it has supported over 2,000 clients globally in reaching their objectives through its Campaign Management Platform (CMP) and SaaS solutions. By utilising AI and machine learning, the platform automatically optimises ad campaigns by removing the guesswork for small and medium-sized businesses and empowering clients to achieve more efficient and effective marketing results on a global scale.
HK Leadus Innovation HK Leadus Innovation is a Hong Kong-based company specialising in smart manufacturing and industrial automation, recognised for its innovative AI-driven systems and IoT applications. One of its key innovations is a next-generation, cost-effective vacuum-insulated glass (VIG) solution, designed to significantly reduce energy consumption in buildings. This technology contributes to fighting global warming and promotes sustainable development, by minimising energy loss in buildings.
Novelte Robotics Founded in 2019 in Hong Kong, it specialises in advanced robotics using AI, VSLAM, IoT, 5G, and autonomous driving technologies. Their products, such as autonomous delivery and disinfection robots, automate repetitive and high-risk tasks, and address labour shortages and operational challenges across healthcare, hospitality, and property management sectors.
ÖKOSIX An environmental tech startup delivering biodegradable and compostable raw materials i.e. a mix of plant-based fibers and nanofilter layer as a more environmental-friendly alternative to traditional disposable material. These medical-grade materials are fully biodegradable within six months, leaving behind no microplastics or harmful substances. Beyond surgical masks, its innovative materials have potential applications in air filtration, diapers, feminine hygiene products, and more.
RaSpect As an AI-driven deep tech firm specialising in smart city technology, it revolutionises property inspections with its patented AI safety technology, ACE-Cloud, which uses advanced image processing and machine learning to quickly analyse data and accurately identify defects of buildings. This allows for faster repairs, prevents potential disasters, reduces human error, lowers labour costs, and avoids costly damages, making it a valuable asset for construction projects. The technology has been successfully implemented in many landmark properties in Hong Kong.

Hashtag: #HKSTP

The issuer is solely responsible for the content of this announcement.

SpeakIn launches FindACoach, Asia’s largest 1:1 coaching platform for professionals


SINGAPORE – Media OutReach Newswire – 13 September 2024 – SpeakIn, Asia’s largest digital platform for professional learning, has launched FindACoach, a 1:1 personalized coaching platform. SpeakIn FindACoach is the first coaching platform built for the Asian market and is committed to empowering working professionals across the region to navigate their careers.

FAC (1)

SpeakIn FindACoach brings the collective experience and expertise of Asia’s top thought leaders, subject matter experts, and certified coaches directly to professional learners.

Backed by research that shows that 63% of professionals and 85% of mid-career professionals feel stuck at various stages of their careers, the SpeakIn FindACoach tool has been built to empower businesses to train and retain talent by offering the following features:

  • One-stop access to global coaches and mentors
  • 1000+ coaches and mentors available from 47 countries
  • Ability to book 1:1 coaching sessions anywhere in the world
  • 500+ videos, podcasts, blogs, and live interactions on trending learning needs
  • Continuous upgrade of learning programs and videos for self-paced learning

Commenting on FindACoach, Deepshikha Kumar, Founder of SpeakIn, said, “SpeakIn FindACoach brings 1:1 coaching to professionals across Asia so that they can learn from experts and navigate the challenges that are impeding their lives and careers. The platform helps working professionals connect with proven achievers to unlock their full potential and turbo-charge their careers. With FindACoach we ensure that no professional is ever alone in his or her journey to the top.”

The platform curates coaches of the highest calibre, across different industries and experience levels. “A CEO can learn directly on the SpeakIn FindACoach platform from a 5-time CEO, while a founder can have one-on-one access with a serial entrepreneur who has sold a US$100 million company not once, but twice over,” says Deepshikha.

In order to ensure the quality and caliber of its coaches, SpeakIn has also appointed Manoj Kohli, Former Country Head of SoftBank India and Former CEO & MD of Bharti Airtel, who will be guiding the initiative as the Chairman of the Board for FindACoach platform. “Manoj is not just an exemplary leader but a benchmark in the integrity, conviction, and diligence with which a personal and professional journey can be built. His experiences from being at the helm of Airtel to Softbank bring instrumental learnings to how SpeakIn FindACoach will be able to add value to professionals across Asia. He will not just guide the program but also coach the leaders at the highest levels as a part of the program.”

The SpeakIn FindACoach platform’s strength lies in its unparalleled understanding of the Asian market. It is the first Asian coaching platform, dedicated to designing programs that are built with a deep understanding of Asian working culture and nuances. “SpeakIn started in 2018 in India and Singapore and has since expanded to 30 countries. Hence, we understand the needs and challenges of the working professional. This differentiates SpeakIn from the western coaching platforms, which tend to paint the entire Asian community with the same brushstroke,” says Deepshikha. This is reflected in our coaches, which feature notable Asian leaders like Amily Ang, President of International Coaching Federation (ICF) Singapore; Dr. Timothy Low, former CEO and Board Member of Farrer Park Hospital; Mimi Nicklin, Executive Listening Coach and Founder of Empathy Everywhere from Malaysia; Ellen Patricia, award-winning coach, mentor, and counselor from Indonesia; and Rhoneil Caimol, VP, HR-Sales at SM Development from Philippines and more set to change lives and build careers for professionals across Asia.

Businesses using the FindACoach platform can easily measure business outcomes through the SpeakIn coaching measurement framework, called SpeakIn For Sure. It is a proprietary measurement tool to assess coaching effectiveness for the FindACoach platform so that organizations can see how the needle is shifting in the behavioral and leadership quotient of their employees being coached.

“At SpeakIn our vision is to make top-quality executive coaching and training available to everyone who wants it, to help employees advance their careers and help organizations attract, retain, and develop talent,” added Deepshikha. “Many of our multi-national clients operate across geographies and SpeakIn FindACoach enables us and them to deliver personalized training at scale, from Mandarin to Bahasa, and from English to Malay, on an easy-to-access platform.”

The platform was built as a response to shifting organization cultures across the region: “Organizations are shifting towards personalized learning for individuals, rather than a blanket approach. Amidst layoffs and attrition, companies are identifying a core group of individuals they truly value and want to invest in. This is where coaching as a product is gaining immense popularity, as it caters to the specific needs of these valued employees, and works as a massive retention tool. Similarly, middle and senior managers looking to grow in their professional journey often feel disoriented and would need a great coach who has seen or traversed that growth path before. SpeakIn FindACoach will help these individuals find a coach, guide, and practitioner in their journey to professional excellence.

According to the KPMG report on Digital Coaching Market & Competition Assessment, there has been a rise in demand for business coaching as the number of certified coaches globally (~33%) and revenue (~21%) has increased in the past 3 years. Post-pandemic, the need for executive mentorship has also become more prevalent. Disruption by tech and AI has resulted in better scalability and lower costs for consumers. Many managers cited a return on investment of 6x of the coaching cost.

“SpeakIn was set up six years ago in response to a US$330 billion opportunity in B2B Edtech and professional development and has grown to be Asia’s largest digital coaching platform,” added Deepshikha. “SpeakIn FindACoach is the next natural evolution of the SpeakIn suite that enables us to partner with companies to provide bespoke coaching and mentoring to even wider audiences through a flexible platform.” The platform can be accessible via the website as well as the mobile app (both iOS and Google) by both businesses and individuals.

Hashtag: #SpeakIn #FindACoach





The issuer is solely responsible for the content of this announcement.

About SpeakIn

SpeakIn is Asia’s largest digital learning platform for 1:1 coaching and group speaker sessions for business professionals. Helping learners solve their professional problems of leadership, communication, motivation, and more, both our 1:1 coaching and Speaker sessions are delivered by a highly curated network of 18000+ global CxOs, SMEs, Thought Leaders, Academicians, and Certified Coaches across 500+ topics. Headquartered in Singapore, SpeakIn has served over 400 enterprise clients like DBS, Accenture, BMW, TCS, VISA, and more, and over 1.5 million professionals in 8 countries have learnt on the SpeakIn platform through 1:1 coaching, group speaker sessions, and self-paced videos, blogs, and podcasts. For more information, visit www.speakin.co.

BNM has left its base rate unchanged: Octa broker analyses the decision


KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 13 September 2024 – The Malaysian economy is growing faster than expected, and the local currency has appreciated quite noticeably. However, the central bank has maintained the interest rate at 3.00%, in accordance with the economists’ expectations. Still, Octa analysts expect that the BNM may soon lower the rates.

Octa

Bank Negara Malaysia (BNM), Malaysia’s central bank, announced its policy rate decision on Thursday, 5 September. Like most central banks worldwide, BNM strives to balance low inflation and sustainable economic growth. Its key monetary policy instrument is the Overnight Policy Rate (OPR). By adjusting the OPR, BNM influences interest rates throughout the Malaysian economy, impacting borrowing costs for businesses and consumers and ultimately influencing economic activity and inflation.

Malaysia inflation and interest rate vs USDMYR exchange rate
Malaysia inflation and interest rate vs USDMYR exchange rate

It was a difficult decision for the central bank to maintain the interest rate at its current level. The bank is trying to strike a delicate balance between a strong economy and potentially incendiary inflation on the one hand and a dovish Federal Reserve (Fed) and appreciating ringgit on the other. According to the latest data published on 16 August, the annual growth rate of the gross domestic product (GDP) accelerated to 5.9% in Q2 2024, its fastest pace in 18 months. Economic growth for 2024 is expected to exceed the central bank’s forecast of 4-5%, driven by a continued increase in consumer spending and a recovery in exports. ‘Lowering borrowing costs when the economy is expanding risks spurring inflation, especially given that the government continues to gradually phase out subsidies programs,’ says Kar Yong Ang, a financial market analyst at Octa broker. However, inflation seems to have stabilised lately. Malaysia’s consumer price index (CPI) rose 2.0% in July from a year earlier, matching the increases of the previous two months. Furthermore, the rise was slightly less than the 2.1% increase forecast in a Reuters poll.

Meanwhile, the Malaysian ringgit has strengthened against the US dollar, significantly reducing import prices. Indeed, Octa analysts expect Malaysian inflation to remain low in Q4 due to strong ringgit. At the same time, many countries are gradually reducing or have already reduced interest rates. The BNM’s decision to keep the rates unchanged is somewhat controversial. ‘It was a tough decision to make,’ argues Kar Yong Ang. ‘BNM is probably thinking about how and when to cut the rate so that it does not fall far behind other central banks––especially the Fed. However, the BNM did not choose to lower rates ahead of the Fed. A sharp fall in USDMYR supports the case for a rate cut later this year as inflation risks seem to be well-anchored at this point.’

Still, a recent Reuters poll of economists expects the BNM to maintain interest rates at their current levels until the end of 2026.

‘As we expected, BNM held the rates unchanged, but the likelihood of a reduction in the near term has increased,’ says Kar Yong Ang, adding that future decisions will largely depend on what the Fed does and on the overall economic conditions in the global market. In particular, the appreciation of the domestic currency, which is currently taking place, has a negative impact on exports but also helps push inflation down. There is also a trend towards lower interest rates, followed by other countries in the region––notably, the Reserve Bank of New Zealand (RBNZ) and the Central Bank of the Philippines have lowered rates in recent weeks.

‘We anticipate a decrease in the interest rate either this year or in Q1,’ said Kar Yong Ang. Octa analysts expect USDMYR to drop below 4.250 in the near term.

Hashtag: #Octa

The issuer is solely responsible for the content of this announcement.

Octa

is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.

In the APAC region, Octa received the ‘Best Trading Platform Malaysia 2024’ and the ‘Most Reliable Broker Asia 2023’ awards from Brands and Business Magazine and International Global Forex Awards, respectively.

Sonim Technologies Accelerates EMEA Market Expansion with Strategic Partnerships and New Product Launches

London, United Kingdom – Newsfile Corp. – September 12, 2024 – In response to growing market demand, Sonim Technologies (Nasdaq: SONM), is accelerating its expansion in the EMEA region, aligning with its robust growth strategy unveiled earlier this year. Following the exit of a former rugged phone brand in Europe, Sonim is poised to seize emerging opportunities and strengthen its leadership in rugged communications technology with phones, wireless internet solutions, and a software suite that maps to the needs of its customer base.

“Sonim’s objective is to ensure that we have good distribution, reliable support services, and a strong roadmap within the region for carriers, integrators, and resellers alike,” said Simon Rayne, GM of Sonim EMEA and Asia-Pac. “Our latest strategic investment in the EMEA region underscores our commitment to capturing a larger share of the EMEA market not just by meeting market demands but anticipating them. As we expand, we are setting the benchmark for excellence with superior carrier-grade solutions, ready to support a broad range of customers with technology that truly makes a difference.”

Distribution

Key distribution partnerships have been established with Modino in the Nordics, Brodos in Germany, Austria, Switzerland (DACH), TCCM in the Central & Eastern Europe (CEE) region, and Cernotech in South Africa. Collaborations with distributors in other regions of Europe are pending. These alliances are key to expanding Sonim’s brand presence through channel partners focusing on niche verticals, small to medium retail shops, national and big box retailers, and carriers. Sonim’s broad portfolio of solutions is designed to meet the diverse needs of active consumers, prosumers, and professionals across sectors like critical communications and emergency services, healthcare, construction, logistics, agriculture, industrial, oil & gas, hospitality, and small-to-medium businesses. This comprehensive approach ensures that all users, regardless of their specific industry or personal needs, have access to premium, durable communication solutions tailored to their requirements.

Key Personnel
Sonim is also strengthening its regional capabilities through strategic hires, including Country Managers for the Nordics, Baltics, DACH and Central Europe, in addition to experts in Technical Account Management, Product Management, Reverse Logistics, and EU Regulatory Compliance. In addition, announcements for new hires and expansion developments are forthcoming.

New Products
Sonim is showcasing its dedication to expanding its portfolio of durable tech with rugged professional phones for a broader audience with the introduction of two new phones unveiled at the IFA Berlin event earlier this week: the XP400 smartphone and the XP100 feature phone, ideal for small and medium-sized enterprises, field professionals, and consumers.

For more information about Sonim Technologies and our latest products, visit www.sonimtech.com.

About Sonim Technologies, Inc.
Sonim Technologies is a leading provider of ultra-rugged, rugged and durable communication tools, including phones, wireless internet data devices, software and a robust ecosystem of accessories and partners that comprise solutions designed to provide extra protection and functionality for users that demand more in their work and everyday lives. Based in California, USA and operating globally, Sonim’s carrier-grade solutions are sold through leading carriers and distributors worldwide. Discover more at www.sonimtech.com.

Media Contact

Anette Gaven
Sonim Technologies
M: 619-993-3058
pr@sonimtech.com

Investor Contact
Matt Kreps
Darrow Associates Investor Relations
mkreps@darrowir.com
M: 214-597-8200

Important Cautions Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements relate to, among other things, the impact of announced products on Sonim’s business and Sonim’s discussion of its expansion strategy. These forward-looking statements are based on Sonim’s current expectations, estimates and projections about its business and industry, management’s beliefs and certain assumptions made by Sonim, all of which are subject to change. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “achieve,” “aim,” “ambitions,” “anticipate,” “believe,” “committed,” “continue,” “could,” “designed,” “estimate,” “expect,” “forecast,” “future,” “goals,” “grow,” “guidance,” “intend,” “likely,” “may,” “milestone,” “objective,” “on track,” “opportunity,” “outlook,” “pending,” “plan,” “position,” “possible,” “potential,” “predict,” “progress,” “promises,” “roadmap,” “seek,” “should,” “strive,” “targets,” “to be,” “upcoming,” “will,” “would,” and variations of such words and similar expressions or the negative of those terms or expressions. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. Factors that may cause actual results to differ materially include, but are not limited to, the following: the availability of cash on hand; potential material delays in realizing projected timelines; Sonim’s material dependence on its relationship with a small number of customers who account for a significant portion of Sonim’s revenue; Sonim’s entry into the data device sector could divert our management team’s attention from existing products; risks related to Sonim’s ability to comply with the continued listing standards of the Nasdaq Stock Market; Sonim’s ability to continue to develop solutions to address user needs effectively, including its next-generation products; Sonim’s reliance on third-party contract manufacturers and partners; Sonim’s ability to stay ahead of the competition; Sonim’s ongoing transformation of its business; the variation of Sonim’s quarterly results; the lengthy customization and certification processes for Sonim’s wireless carries customers; various economic, political, environmental, social, and market events beyond Sonim’s control, as well as the other risk factors described under “Risk Factors” included in Sonim’s most recent Annual Report on Form 10-K and any subsequent quarterly filings on Form 10-Q filed with the Securities and Exchange Commission (available at www.sec.gov). Sonim cautions you not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Sonim assumes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.

The issuer is solely responsible for the content of this announcement.

Gorilla Announces Share Buyback of up to $6 Million as It Deems Shares to Be Undervalued


Key Highlights:

  • Share Repurchase Underway: To repurchase 1.1 million shares, closing in the next five business days.
  • Unaudited H1 2024 financials expected by September 30, 2024.
  • Holding Free cash reserves exceed $40 million; Current assets total over $58 million, including restricted capital; Real estate holdings valued at over $25 million

London, United Kingdom – Newsfile Corp. – September 12, 2024 – Gorilla Technology Group Inc. (NASDAQ: GRRR) (“Gorilla” or the “Company”) is thrilled to announce an ambitious and strategic share buyback program, aimed at addressing what we believe to be a significant undervaluation of our shares. This initiative comes in response to the sharp decline in the Company’s market cap from approximately $650 million to $35 million, in spite of our strong business performance. The share buyback will help realign Gorilla’s stock price with our assessment of its intrinsic value and support our long-term strategic objectives.

The Board of Directors has authorised the repurchase of up to $6 million worth of shares under this buyback programme, demonstrating our strong conviction in the Company’s intrinsic value. Under this program, Gorilla has entered into several privately negotiated transactions with existing shareholders to repurchase over 1.1 million of its ordinary shares, which transactions are expected to close over the next five business days. The Company will continue to opportunistically pursue additional share repurchases so long as this undervaluation persists. This ensures a comprehensive and strategic consolidation of shares, reinforcing our commitment to maximizing shareholder value.

We are also pleased to report that our largest customers have fulfilled their payment obligations. This has significantly bolstered our cash reserves, providing a robust financial foundation to support this strategic buyback program.

Under this program, the Company will continue to opportunistically pursue additional share repurchases so long as this undervaluation persists. This ensures a comprehensive and strategic consolidation of shares, reinforcing our commitment to maximizing shareholder value.

“This share buyback program reflects our unwavering belief in the Company’s intrinsic value and our confidence in its future potential. By taking these actions, we believe that we are not only addressing the current market undervaluation but also establishing a solid foundation for sustainable growth and enhanced shareholder value. This initiative showcases our commitment to leveraging our strong financial position to drive long-term success and achieve market leadership. Our financial position continues to strengthen, with cash reserves growing steadily, and our assets clearly demonstrate our solid footing. We believe our tangible and intangible assets, including real estate and intellectual property, highlight the significant intrinsic value found within Gorilla, underlining our strong market position and dedication to delivering exceptional shareholder value,” said Jay Chandan, Chairman & CEO.

“I have observed a significant decline in Gorilla’s market capitalization, which we have assessed as a substantial undervaluation of our shares, despite the thriving AI market. Our key projects are performing. Our share buyback program is a decisive step to address this undervaluation and support Gorilla’s long-term strategic goals. We believe this move sends a clear and powerful message to the market,” concluded Jay Chandan.

The Company expects to release unaudited financial statements for the first half of 2024 on or prior to September 30, 2024.

About Gorilla Technology Group Inc.

Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including, Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies.

Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Gorilla’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding our beliefs about future revenues, our ability to attract the attention of customers and investors alike, our expectations to swing to profit in the quarters ahead, our expectation that share repurchases contemplated pursuant to executed share repurchase agreements will close in the short term, Gorilla’s strategic shift to enable it to pursue larger projects with better revenue visibility, Gorilla’s largest projects and ability to win additional projects and execute definitive contracts related thereto, along with those other risks described under the heading “Risk Factors” in the Form 20-F Gorilla filed with the Securities and Exchange Commission (the “SEC”) on May 15, 2024 and those that are included in any of Gorilla’s future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Gorilla and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Gorilla undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

Investor Relations Contact:
Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
GRRR@redchip.com

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About Gorilla Technology Group Inc.

Guided by Customer-Centric Philosophy, VinFast Navigates New EV Realities

VinFast is responding to the evolving electric vehicle (EV) market with a customer-centric philosophy focused on affordability, quality, and comprehensive after-sales support. This is reflected in its diverse model range and expansion into emerging markets, positioning the company for sustained growth.


HANOI, VIETNAM – Media OutReach Newswire – 12 September 2024 – The EV market, while still expanding, has fallen short of the ambitious growth trajectory envisioned by automakers. Consequently, many established manufacturers are scaling back their aggressive electrification timelines.

VinFast EV manufacturing complex in Hai Phong, Vietnam
VinFast EV manufacturing complex in Hai Phong, Vietnam

While some automakers are hedging their bets with hybrid models, others are doubling down on their vision for an all-electric future. To achieve this, they’re recognizing the need to transition from catering to early adopters to making electric vehicles more accessible to the mass market.

VinFast, a Vietnamese pure-play EV manufacturer, is meeting this challenge head-on with a customer-centric approach. Their commitment to “premium-quality product, inclusive price, and outstanding aftersales policy” aims to tackle the common concerns of potential EV buyers.

With price being the most significant hurdle to mainstream adoption, VinFast has introduced, or is planning to introduce, more affordable EV models across virtually all its operational markets. Consumers in Vietnam enjoy the broadest selection of VinFast vehicles, including their most budget-friendly model, the VF 3, priced starting from $10,000 with their innovative battery subscription model. The record-breaking 27,400 non-refundable pre-orders in May underscore the model’s resonance in a market where car ownership remains a distant dream for many. It’s anticipated that the VF 3, with its blend of affordability, style, and practicality, will redefine mobility in the broader Southeast Asia, much like how motorcycles once did.

In the US and the EU, reports suggest that VinFast may introduce more affordable SUVs like the VF 6, positioned below the current VF 8 in terms of price. Their arrival in these markets, while still not official, is eagerly awaited by those seeking a more affordable entry point into the VinFast ecosystem.

VinFast’s comprehensive lineup empowers them to cater to diverse market demands. Moreover, all VinFast vehicles have garnered praise for their handling and driving experience, both from casual customers and professional reviewers, complemented by an array of smart and practical features. For instance, the VF 8, one of VinFast’s flagship models, boasts a spacious interior, advanced driver-assistance systems, and a range that rivals many established competitors.

The company’s dedication to exceptional customer service and aftersales support, characterized by extended warranties and comprehensive service offerings, further solidifies their commitment to providing value and reassurance to buyers. The up-to-10-year warranty offered on VinFast vehicles stands as a testament to their confidence in the quality and longevity of their products, setting a new benchmark in the industry.

VinFast’s strategic focus might also stem from the realization that while the EV market in developed regions like the US and Europe may be experiencing a slowdown, other markets, such as Southeast Asia and the Middle East, present promising prospects.

The young company is actively expanding its reach into these regions, tapping into a growing interest in the EV transition. In the Middle East, VinFast has made significant strides, securing agreements with distributors, opening its first showroom, and establishing a regional headquarters. These strategic moves not only open doors to new customer bases but also lay the groundwork for future expansion into other promising markets in the region.

VinFast’s proactive approach to catering to customer needs, coupled with its expansion into emerging markets, positions the company as a compelling player in the ever-evolving EV landscape.

Hashtag: #VinFast #Vingroup #EV

The issuer is solely responsible for the content of this announcement.