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K-Beauty Trouble-Care Leader ‘Fation’ Debuts Nosca9 Deep Pore Cleanser in the U.S., Laying the Foundation for Glass Skin

SEOUL, South Korea, April 17, 2025 /PRNewswire/ — Korean skincare favorite Fation, the top-rated trouble-care brand at Olive Young with a near-perfect 4.9/5.0 rating, has officially launched in the U.S. market. Next rookie following after its best selling ‘Trouble’ Line, the Nosca9 Deep Pore Cleansing Foam, hit Amazon in March—and the response has been immediate. Named an Amazon “Overall Pick” and boasting an average rating above 4.7 stars, the product is already gaining momentum among beauty enthusiasts looking to achieve the Korean “glass skin” look.

K-Beauty Trouble-Care Leader ‘Fation’ Debuts Nosca9 Deep Pore Cleanser in the U.S., Laying the Foundation for Glass Skin
K-Beauty Trouble-Care Leader ‘Fation’ Debuts Nosca9 Deep Pore Cleanser in the U.S., Laying the Foundation for Glass Skin

What sets this cleanser apart is its key ingredient: Retinal—a highly functional next-generation powerhouse often described as a more effective and less irritating upgrade to the widely known Retinol. Rare to use on the cleanser category but backed by the unique technology of Dong-A Pharmaceutical, a leading name in Korea’s pharmaceutical industry for over 94 years, Fation’s proprietary Nano-Retinal RX Complex™ delivers visible pore-tightening benefits with dermatologist-grade precision.

In addition to Retinal, the formula includes rice extract, 17 types of amino acids, and a tannin complex for a well-rounded, skin-friendly deep cleanse. The unique, stretchy texture clings to impurities and excess oil, helping to refine skin texture and minimize enlarged pores.

In celebration of its successful U.S. debut, Fation is offering a limited-time Amazon promotion from April 14 to 23, slashing the price from $15.99 to $11.19 (30% Off).

The Nosca9 line is just the beginning. Fation’s Trouble Soothing range—including toner, serum, cream, and masks for sensitive or acne-prone skin—is also available on Amazon.

Explore the full collection:
Cleansing Foam: https://amzn.to/44vKTGi
Serum Set: https://amzn.to/3EfyVpP
Cream S: https://amzn.to/4lsXVuf
Toner S: https://amzn.to/42cCzKk
Real Fit Mask: https://amzn.to/4ju9AY1
Glass skin starts here—with Fation.

Spring Into Savings: VARON Offers Discounts on Oxygen Solutions for Allergy Season

NEW YORK, April 17, 2025 /PRNewswire/ — As spring blooms across the country, so does allergy season — a time when pollen, dust, and airborne irritants can aggravate respiratory conditions and make breathing more difficult. VARON, a leading provider of respiratory care solutions, is helping consumers combat these seasonal challenges with advanced oxygen concentrators and exclusive spring savings.

To support customers during peak allergy season, VARON has launched its Spring Sale, offering sitewide discounts of up to 30% on select oxygen concentrators and accessories. The promotion is aimed at helping more people access reliable respiratory support while enjoying significant savings.

How Spring Allergies Affect Breathing

Each year, millions of Americans experience allergic rhinitis, commonly known as hay fever. For individuals living with asthma, chronic obstructive pulmonary disease (COPD), or other respiratory conditions, exposure to spring allergens can worsen symptoms such as wheezing, congestion, and shortness of breath.

Oxygen therapy has become a trusted solution for improving respiratory health, ensuring users receive adequate oxygen while reducing exposure to airborne allergens.

VARON Oxygen Concentrators: Breathing Easier This Spring

VARON’s oxygen concentrators are engineered with advanced filtration systems to deliver purified oxygen while minimizing irritants. Key features include:

  • Enhanced Air Filtration: Removes pollen, dust, and other allergens from the air.
  • Built-in Humidification: Adds moisture to oxygen to prevent dryness and irritation.
  • Continuous and Pulse Flow Options: Customized oxygen delivery for every need.
  • Portable, Lightweight Design: Ideal for users staying active indoors or outdoors.

These healthcare devices offer a convenient solution for individuals seeking respiratory support at home or on the go.

Spring into Savings: Limited-Time Discounts Now Available

In celebration of spring, VARON’s Spring Sale offers exclusive savings to help more customers access essential respiratory care solutions.

Customers can take advantage of:

  • Up to 30% off on featured oxygen concentrators and respiratory accessories
  • 18% off sitewide with no code required
  • Free shipping on all orders

Whether planning outdoor adventures, family gatherings, or simply enjoying fresh air in comfort, VARON’s oxygen concentrators help users breathe easier and embrace the season.

For more details on VARON’s Spring Sale or to explore its oxygen therapy solutions, visit https://varoninc.com or contact support@varoninc.com.

Essential Maintenance Tips for Optimal Performance and Hygiene

In addition to the promotions, VARON is encouraging customers to take this opportunity to care for their oxygen equipment. “Regular maintenance of oxygen devices and accessories plays a vital role in ensuring safe, effective, and comfortable oxygen therapy,” said Dr. Walkers, Director of Product Development at VARON. “Over time, components like filters and cannulas can accumulate dust, moisture, and bacteria, which may affect both air quality and the overall user experience.”

VARON recommends the following spring maintenance checklist:

1. Replace Air Filters

Filters help block dust, debris, and airborne particles from entering the device. Replacing them every 3 months (or more frequently in dusty environments) ensures clean air intake and protects internal components.

2. Change Nasal Cannulas and Tubing

These components are in direct contact with the user and can harbor bacteria if not changed regularly. It is recommended to replace cannulas every 2-4 weeks, based on your frequency of use, to maintain hygienic oxygen delivery.

3. Clean Accessories Weekly

Wash cannulas, tubing, and humidifier bottles (if applicable) weekly using mild soap and warm water, then allow them to air dry completely. Never use harsh chemicals or alcohol.

4. Inspect and Replace Batteries (for Portable Units)

If using a portable concentrator, check battery life and replace older batteries that no longer hold a full charge. Proper battery function is essential for uninterrupted oxygen therapy on the go.

5. Store Devices Properly

Keep equipment in a clean, dry place when not in use. Avoid direct sunlight, excessive heat, or moisture to prevent internal damage and preserve the unit’s integrity.

Customers can find replacement filters, cannulas, tubing, and batteries available at discounted prices during the Spring Sale.

Supporting Health and Wellness Year-Round

In addition to providing high-quality respiratory equipment, VARON encourages customers to take proactive steps to manage allergy symptoms during spring. These include using air purifiers indoors, limiting outdoor exposure during peak pollen hours, staying hydrated, and consulting healthcare providers for personalized care plans.

VARON remains committed to supporting respiratory wellness with products designed for comfort, efficiency, and reliability.

About VARON

VARON is a trusted leader in respiratory care, providing innovative oxygen therapy solutions to support individuals with chronic and seasonal breathing difficulties. Committed to comfort, reliability, and cutting-edge technology, VARON helps users around the world breathe easier every day.

Media Contact:
Winnie Li
official@varoninc.com 

2026 Best Lawyers® in Australia showcases law firm talent, highlights Brisbane as emerging hub for top legal minds

New data from Best Lawyers reveals top-ranked legal talent across Australia, providing insights for firm marketing and recruitment

AUGUSTA, Ga., April 17, 2025 /PRNewswire/ — Best Lawyers® today announces the release of the 2026 editions of The Best Lawyers in Australia™ and Best Lawyers: Ones to Watch in Australia™, offering law firms a powerful resource to benchmark professional excellence, spotlight emerging legal talent and strengthen their competitive standing.

2026 editions of The Best Lawyers in Australia™
2026 editions of The Best Lawyers in Australia™

The Best Lawyers rankings, representing the country’s top 5% of legal talent1, offer data-driven insights and access to a global network that Australian legal firms can leverage to support their marketing, recruitment and client development initiatives.

Best Lawyers CEO, Phillip Greer, said the 18th edition of The Best Lawyers in Australia recognises more than 4,500 lawyers selected from a rigorous peer-review process. Of those, 314 lawyers are being honoured for the first time, reflecting the continued expansion in this region.

Now in its fourth year, Best Lawyers: Ones to Watch in Australia highlights more than 790 early-career lawyers for outstanding professional achievement.

In addition, 329 nominees were awarded the prestigious “Lawyer of the Year” title, for those receiving the highest overall peer feedback for a specific practice area and geographic region.

“The Australian legal market continues to advance, with seasoned lawyers and emerging voices leading the charge on some of the globe’s most pressing legal challenges,” Mr Greer said.

“From class actions and data privacy to climate-related litigation, this year’s Australian honorees represent the highest calibre of the profession, with a growing focus on impact, innovation and accountability.”

Sydney and Melbourne dominance challenged

Sydney, Melbourne and Brisbane lead the country in awarded talent, underscoring their roles as Australia’s primary legal and commercial hubs – but there are emerging trends as to where top legal talent is concentrated, according to Best Lawyers Vice President of Research and Development, Elizabeth Petit.

Brisbane has emerged as a growing hub, attracting a rising number of high-performing legal professionals – likely driven by the city’s population growth, economic development and expanding legal market.

Sydney and Melbourne maintain their long-standing reputations as powerhouses for top legal talent, however their growth has not been as dramatic,” she said.

Litigation remains the most recognised practice area in the 2026 editions, followed by Insurance Law and Alternative Dispute Resolution, reflecting growing legal needs across corporate, risk and strategic advisory services.

Mr Greer said legal firms across Australia continue to demonstrate a commitment to professional distinction, with 700 firms represented this year and a record 500,000 evaluations made in the peer-review process required for nominees.

“Best Lawyers’ recognition process is a key indicator of legal expertise and credibility for clients and the broader legal profession, providing valuable third-party validation in a highly competitive industry.

“Our peer rankings provide a confirmed network for people to tap into and know they are getting the best legal representation,” he said.

Further strengthening its position in the Australian legal market, Best Lawyers will announce the 2026 Best Law Firms™ – Australia and release its Australian Legal Market Report providing a comprehensive overview of legal trends on May 29, 2025.

Search The Best Lawyers in Australia and Best Lawyers: Ones to Watch in Australia results by lawyer name, firm, region and/or practice area by visiting www.bestlawyers.com.

About Best Lawyers®

Best Lawyers® is the most established global network of legal professionals, providing elite lawyers and law firms with tools to enhance visibility, credibility and client engagement. Built on a rigorous peer-review process, Best Lawyers delivers data-driven legal recognition while offering industry insights and tech-forward marketing solutions. Powering Best Law Firms®, we simplify the law firm selection process, fostering confidence between firms and clients. Learn more at www.bestlawyers.com and www.bestlawfirms.com.

Australian Media Contacts:

Kathryn Britt

Laura Aguayo

Group Client Manager

Account Leader

BBS Communications Group

BBS Communications Group

kbritt@bbscommunications.com.au

laguayo@bbscommunications.com.au

Ph: 0414 661 616

Ph: 0433 531 074

US-based Contact:

Alliccia Odeyemi
Senior Public Relations Manager
aodeyemi@bestlawyers.com

1 The number of honored individuals divided by 90,000 lawyers practicing (as reported by Statista).

Photo – https://laotiantimes.com/wp-content/uploads/2025/04/best_lawyers__2026_editions_of_the_best_lawyers_in_australia.jpg

Logo – https://laotiantimes.com/wp-content/uploads/2025/04/best_lawyers_logo.jpg 

Saudi Arabia and France Strengthen Health Cooperation Through Strategic Agreements in Biotech and Digital Health

PARIS, April 17, 2025 /PRNewswire/ — On the second day of an official visit to France, His Excellency Fahad Abdulrahman AlJalajel, Minister of Health of the Kingdom of Saudi Arabia, held bilateral meetings with senior French officials including Minister for Labour, Health, Solidarity and Families Catherine Vautrin, Minister for Health and Access to Care Yannick Neuder and Laurent Saint-Martin, Minister Delegate for Foreign Trade and French Nationals Abroad.

During a three-day official visit to France, His Excellency Fahad Abdulrahman AlJalajel, Minister of Health of the Kingdom of Saudi Arabia, held bilateral meetings with senior French officials, including Catherine Vautrin, Minister for Labour, Health, Solidarity, and Families
During a three-day official visit to France, His Excellency Fahad Abdulrahman AlJalajel, Minister of Health of the Kingdom of Saudi Arabia, held bilateral meetings with senior French officials, including Catherine Vautrin, Minister for Labour, Health, Solidarity, and Families

Discussions focused on strengthening cooperation in health innovation, research, workforce development, investment promotion, and supply chain resilience, aligned with the Kingdom’s Vision 2030 Health Sector Transformation.

A highlight of the visit was the signing of several agreements, witnessed by Their Excellencies, designed to strengthen and expand the health partnership between Saudi Arabia and France. The first between Seha Virtual Hospital and Gustave Roussy aims to enhance cancer care and digital health through AI-powered telemedicine.

Another, signed between the Health Holding Company (HHC) and France Biotech, focuses on accelerating the development of the Health Tech and Life Sciences ecosystems in both countries by supporting healthcare startups and promoting the integration of innovative technologies.

A third agreement, between the Saudi Red Crescent Authority and Assistance publique-hôpitaux de Paris, will strengthen cooperation in Emergency Medical Services, including joint training, knowledge exchange, and best practices in emergency response.

His Excellency Minister Aljalajel stated: “I welcome the strengthening of these collaborative ties with France’s leading institutions, which reflect our commitment to advancing excellence and innovation across the health sector. These partnerships not only strengthen international ties but also position the Kingdom of Saudi Arabia as a dynamic and innovation-friendly ecosystem – one that is actively attracting global innovators and creating significant opportunities for transformative impact within our evolving healthcare landscape. They represent an important step forward in achieving the goals of Vision 2030, as we continue to transform our health system to deliver world-class care and foster a thriving life sciences sector.”

The Minister’s three-day visit to Paris and Lyon demonstrates the shared commitment of Saudi Arabia and France to enhance healthcare services and innovation, while further strengthening their bilateral relationship in support of global health goals.

HoSkar Night Bangkok 2025: Asia’s Premier Real Estate & Hospitality Networking Event Returns on 8 May

HO CHI MINH CITY, Vietnam, April 17, 2025 /PRNewswire/ — Amid Southeast Asia’s fast-evolving real estate and hospitality landscape, industry leaders are coming together in Bangkok for an evening that blends insight, strategy and high-impact networking. HoSkar Night Bangkok 2025 will take place on 8 May at the prestigious Dusit Thani Bangkok, bringing together a curated group of influential leaders from across the region.

Organized by WeHub, this exclusive event will welcome real estate developers, hotel owners, architects, operators and investment partners for a high-impact evening centered on networking, insights and opportunity.

Whether you’re an established industry leader or a rising innovator, HoSkar Night offers a rare opportunity to gain insights, make meaningful connections and shape the future of real estate and hospitality in the region. With a handpicked guest list and a dynamic atmosphere, this event goes beyond typical networking – it’s where Asia’s next big ideas are born.

Developers Seminar at HoSkar Night HCMC 2024 – Source: WeHub
Developers Seminar at HoSkar Night HCMC 2024 – Source: WeHub

Developer Seminar: Ultra-Luxury Branded Residences

The event will commence with an in-depth seminar focused on the future of branded residences. Featuring leading voices from Savills UK, Savills Thailand, Brand&Co, CMV Architects, HotStats, Dusit International, Minor Hotels and Accor, this session will address global and regional trends in branded residential developments, mixed-use project integration, operating performance, brand positioning and cost strategy. The seminar will blend case studies, data insights and panel discussions for a comprehensive industry overview.

HoSkar Night Networking Session

Following the seminar, attendees will be invited to an evening of professional networking session. Designed to foster meaningful dialogue and facilitate valuable business introductions, the HoSkar Night session provides an intimate and sophisticated environment to engage with industry peers and explore potential collaborations.

Participation and Registration

Due to limited capacity, we will be implementing a “First-register, first-served” policy, with priority given to selected categories. Entry is exclusively granted with the confirmation email from the WeHub Team. Inquire now to join the HoSkar Night in Bangkok on 8th May: https://hoskarnight.com/registration-bangkok/

Strategic Partners and Supporters

HoSkar Night Bangkok 2025 is supported by a distinguished network of partners, including Brand&Co, CMV Architects, Savills, Dusit International and Atlas Concorde, with additional collaboration from Accor, Meinhardt, Archetype Group, Delivering Asia and PR Newswire.

Regional Event Series 2025

Following Bangkok, HoSkar Night will continue its Asia-Pacific series in Phnom Penh (4 June), Ho Chi Minh City (10 July), Hanoi (1 October), Manila (23 October) and Dubai (November).

For press inquiries or partnership opportunities, please contact: host@wehubyou.com.

Vision Asia Pacific is a registered company which owns WeHub and organizes multiple event series, including the Meet The Experts conference (MTE) and the HoSkar Night networking event, serving the real estate and hospitality industries across Asia.

Baijiayun and Xinlantian Reached Strategic Cooperation to Use AI Technology to Assist the Rehabilitation of Tens of Millions of Autistic Children

BEIJING, April 17, 2025 /PRNewswire/ — Baijiayun Group Ltd (“Baijiayun” or the “Company”) (NASDAQ: RTC), a one-stop AI video solution provider, today announced that we have reached a strategic cooperation with Beijing Xinlantian Education Technology Co., Ltd. (hereinafter referred to as “Xinlantian”). This cooperation marks that Baijiayun, with its cutting – edge exploration in AI and large – language model technologies, will combine with Xinlantian’s professional accumulation in the field of rehabilitation training for autistic children. Together, they will provide more efficient and personalized rehabilitation training programs for autistic children.

As the AI video technology service provider with the most in-depth comprehension of education, Baijiayun brings robust technical expertise in AI large model technologies. Xinlantian, through ten years of entrepreneurial experience, has accumulated specialized rehabilitation philosophies and a wealth of practical cases. The two parties will jointly develop an intelligent diagnostic assistance platform to create personalized rehabilitation plans tailored to each child’s unique condition and training needs. Leveraging big data analytics and machine learning algorithms, the platform will enable real-time monitoring of training progress and outcomes. This precision-oriented approach ensures every child receives optimally customized rehabilitation programs, maximizing progress within shorter timeframes.

Additionally, Baijiayun will provide comprehensive support including SCRM management, online school platforms, intelligent diagnostics, and regulatory tools. These resources will empower Xinlantian to achieve refined management of parent leads, unified administration of teaching operations, real-time diagnosis of developmental challenges, and intelligent oversight of nationwide branches. Through these enhancements, Xinlantian will elevate service quality to deliver more holistic and professional rehabilitation services for autistic children and their families.

This strategic collaboration represents not only a convergence of technologies and resources but also an innovative exploration of partnership models. Through joint efforts, the two companies aspire to pioneer advanced and effective rehabilitation solutions for this special needs community. Mr. Yi Ma, CEO of Baijiayun, stated: “We are committed to driving educational innovation through AI technologies. The essence of AI lies in enabling businesses to deliver personalized services at scale. Our partnership with Xinlantian signifies a crucial step in applying AI to special needs education. We believe our combined efforts will bring precise, efficient rehabilitation to autistic children, igniting a beacon of hope for their future. This embodies how AI technology creates tangible social value.”

Company Contact:

Ms. Fangfei Liu 
Chief Financial Officer, Baijiayun Group Ltd
Phone: +86 25 8222 1596
Email: ir@baijiayun.com

3 E Network Technology Group Limited Announces First Half of Fiscal Year 2025 Financial Results

GUANGZHOU, China, April 17, 2025 /PRNewswire/ — 3 E Network Technology Group Limited (Nasdaq: MASK) (the “Company” or “3e Network”), a business-to-business (“B2B”) information technology (“IT”) business solutions provider, today announced its unaudited financial results for the first half of fiscal year 2025 ended December 31, 2024.

Dr. Tingjun Yang, Chief Executive Officer and Director of 3e Network, commented: “We are pleased to report a strong performance for the first half of fiscal year 2025. Compared to the same period in the fiscal year 2024, our revenue increased by 5.3%, driven by our ongoing efforts to expand our customer base through innovative software development services. These initiatives also contributed to substantial growth in both gross profit and net income with a growth rate of 49.3% and 56.2% year over year, respectively. Additionally, our gross margin improved significantly from 35.9% in the first half of fiscal year 2024 to 50.9% in the first half of fiscal year 2025.

This remarkable growth reflects our unwavering investment in research and development (“R&D”), which remains a cornerstone of our business development and long-term growth potential. R&D expenses increased by 25.4% compared to the same period in the fiscal year 2024, highlighting our continued commitment to new research projects and product innovation. At the same time, our cost-control strategies proved effective — by outsourcing certain development activities and focusing our resources on high-margin businesses, we achieved a 19.2% reduction in the overall cost of revenue year over year.

Looking ahead, we are confident in the strength and resilience of our current business strategy and operational initiatives, which we believe will support sustained growth and enable further expansion. As a player in the fast-evolving and competitive B2B IT industry, our core competitiveness lies in technical innovation and software customization. Our steadfast commitment to R&D investment will remain the driving force behind our growth trajectory, and we are confident these efforts will continue to generate long-term value for our company and our shareholders.”

First Half of Fiscal Year 2025 Financial Highlights

  • Revenues were $3.13 million for the first half of fiscal year 2025, an increase of 5.3% from $2.97 million for the first half of fiscal year 2024.
  • Gross profit was $1.59 million for the first half of fiscal year 2025, an increase of 49.3% from $1.07 million for the first half of fiscal year 2024.
  • Gross margin was 50.9% for the first half of fiscal year 2025, increased from 35.9% for the first half of fiscal year 2024.
  • Net income was $1.07 million for the first half of fiscal year 2025, an increase of 56.2% from $0.68 million for the first half of fiscal year 2024.
  • Basic and diluted Earnings per Share were $0.11 for the first half of fiscal year 2025, an increase of 57.1 % from $0.07 for the first half of fiscal year 2024.

First Half of Fiscal Year 2025 Financial Results

Revenues

Total revenues were $3.13 million for the first half of fiscal year 2025, an increase of 5.3% from $2.97 million for the first half of fiscal year 2024. The increase in overall revenues reflected the Company’s efforts to expand its customer base in the markets with software development services.

Revenue from software development services was $3.13 million for the first half of fiscal year 2025, an increase of 5.3% from $2.97 million for the first half of fiscal year 2024. This was brought by the Company’s efforts to expand its customer base and develop new software for new customers.

Revenue from exhibition and conference services was nil for the first half of fiscal year 2025, a decrease of 100% from $210 for the first half of fiscal year 2024. The Company does not have exhibition and conference services provided during the period as it has focused its efforts to provide software development services.

Cost of Revenues

Cost of revenue was $1.53 million for the first half of fiscal year 2025, a decrease of 19.2% from $1.89 million for the first half of fiscal year 2024. The cost of revenue decreased due to outsourcing part of the development process and conducting high margin business.

Gross Profit and Gross Profit Margin

Gross profit was $1.59 million for the first half of fiscal year 2025, an increase of 49.3% from $1.07 million for the first half of fiscal year 2024. Gross margin was 50.9% for the first half of fiscal year 2025, increased from 35.9% for the first half of fiscal year 2024. The increase was due to the Company’s efforts in selling more higher margin services and reducing the marketing in low margin business.

Total Operating Expenses

Total operating expenses were $0.33 million for the first half of fiscal year 2025, an increase of 18.7% compared to $0.28 million for the first half of fiscal year 2024.

  • Selling and marketing expenses were nil for the first half of fiscal year 2025, a decrease of 100% from $2,085 for the first half of fiscal year 2024. The decrease was primarily due to the decrease in need of marketing activities.
  • Research and development (“R&D”) expenses were $149,785 for the first half of fiscal year 2025, an increase of 25.4% from $119,437 for the first half of fiscal year 2024. The increase was mainly due to the increase in research projects due to the expansion of the Company’s business. The Company expects R&D expenses to increase as it develops more new products in future years.
  • General and administrative expenses were $199,513 for the first half of fiscal year 2025, an increase of 53.7% from $129,772 for the first half of fiscal year 2024. The increase was due to a combination of the increase in social insurance fees of $19,453 and bad debt expenses of $62,093 for the first half of fiscal year 2025, compared to the social insurance fee of $9,832 and bad debt expenses of $36,670 for the first half of fiscal year 2024.

Net Income

Net income was $1.07 million for the first half of fiscal year 2025, an increase of 56.2% from $0.68 million for the first half of fiscal year 2024.

Basic and Diluted Earnings per Share

Basic and diluted earnings per share were $0.11 for the first half of fiscal year 2025, an increase of 57.1% from $0.07 for the first half of fiscal year 2024.

Financial Condition

As of December 31, 2024, the Company had cash and cash equivalents of $71,590, compared to $114,067 as of December 31, 2023.

Net cash provided by operating activities was $0.39 million for the first half of fiscal year 2025, compared to $0.87 million for the first half of fiscal year 2024.

Net cash used in financing activities was $0.36 million for the first half of fiscal year 2025, compared to $0.80 million for the first half of fiscal year 2024.

Recent Development

On January 10, 2025, the Company completed its initial public offering (the “Offering”) of 1,250,000 class A ordinary shares at a price of $4.00 per ordinary share. The Company received aggregate gross proceeds of $5.00 million from the Offering, before deducting underwriting discounts and other related expenses payable by the Company. The Ordinary Shares began trading on the Nasdaq Capital Market on January 8, 2025 under the ticker symbol “MASK.”

About 3 E Network Technology Group Limited

3 E Network Technology Group Limited is a business-to-business (“B2B”) information technology (“IT”) business solutions provider. Through its two subsidiaries, Guangzhou Sanyi Network and Guangzhou 3E Network, the Company began by offering integrated software and hardware solutions for the property management and exhibition services spaces. Over time, 3 E Network expanded its software solutions offerings to serve a variety of sectors, including food establishments, real estate, exhibition and conferencing, and clean energy utilities. The Company’s business comprises two main portfolios: the software development portfolio and the exhibition and conference portfolio. For more information, please visit the Company’s website at http://ir.3etech.cn.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

For investor and media inquiries, please contact:

3 E Network Technology Group Limited
Investor Relations Department
Email: ird@3ekeji.cn

 

 

3 E NETWORK TECHNOLOGY GROUP LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In US$, except for share and per share data, or otherwise stated)

As of
December 31,
2024

As of
June 30,
2024

Assets

Current assets:

Cash and cash equivalents

$

71,590

$

51,809

Accounts receivable, net

2,683,251

2,098,227

Deposits, prepayments and other current assets

424,689

41,461

Due from related parties – current

5,936

32,013

Total current assets

3,185,466

2,223,510

Property and equipment, net

8,675

11,216

Deferred IPO costs

2,132,303

1,520,975

Deferred tax assets, net

39,872

104,857

Total assets

5,366,316

3,860,558

Liabilities and equity

Current liabilities:

Accounts payable

$

800,000

$

206,407

Advance from customers

1,612

1,009

Accrued expenses and other liabilities

237,846

295,504

Due to related party – current

63,000

Tax payable

384,690

218,918

Total current liabilities

1,487,148

721,838

Due to a related party – non-current

85,567

402,202

Total Liabilities

1,572,715

1,124,040

Commitments and contingencies

Shareholders’ equity:

Class A Ordinary Shares ($0.0001 par value; 400,000,000 shares authorized;
   10,000,000 shares issued and outstanding as of December 31, 2024 and June 30,
   2024)

1,000

1,000

Class B Ordinary Shares ($0.0001 par value; 100,000,000 shares authorized; nil shares
   issued and outstanding as of December 31, 2024 and June 30, 2024)

Statutory reserve

94,374

64,474

Retained earnings

3,878,142

2,838,715

Accumulated other comprehensive loss

(179,915)

(167,671)

Total shareholders’ equity

3,793,601

2,736,518

Total Liabilities and shareholders’ equity

$

5,366,316

$

3,860,558

 

 

3 E NETWORK TECHNOLOGY GROUP LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE
INCOME

(In US$, except for share and per share data, or otherwise stated)

For the six months ended
December 31

2024

2023

Revenues

Software development services

$

3,128,203

$

2,971,671

Exhibition and conference services

Hardware sales

210

Others

230

Total revenues

3,128,203

2,972,111

Cost of revenues

Software development services

1,528,919

1,891,256

Exhibition and conference services

Hardware sales

57

Others

Taxes and other surcharges

5,623

13,488

Total cost of revenues

1,534,542

1,904,801

Gross profit

1,593,661

1,067,310

Operating expenses

Sales and marketing expenses

2,085

General and administrative expenses

199,513

129,772

Research and development expenses

149,785

119,437

Exchange (gain)/loss

(21,150)

25,237

Total operating expenses

328,148

276,531

Income from operations

1,265,513

790,779

Other income, net

1,582

10,117

Income before income tax

1,267,095

800,896

Income tax expenses

197,768

116,503

Net income

$

1,069,327

$

684,393

Other comprehensive income

Foreign currency translation (loss)/income

(12,244)

42,311

Total comprehensive income

$

1,057,083

$

726,704

Weighted average number of ordinary shares outstanding:

Class A Ordinary Shares – Basic and diluted*

10,000,000

10,000,000

Class B Ordinary Shares – Basic and diluted*

Earnings per ordinary share

Class A Ordinary Shares – Basic and diluted*

$

0.11

$

0.07

Class B Ordinary Shares – Basic and diluted*

$

$

 

 

Moatable Reports 2024 Annual Financial Results

PHOENIX, April 17, 2025 /PRNewswire/ — Moatable, Inc. (OTC: MTBLY) (“Moatable” or the “Company”), a leading US-based SaaS company, yesterday reported its fourth quarter 2024 and 2024 annual financial results.

Fourth Quarter 2024 and 2024 Annual Financial Highlights

  • Revenue increased 27% over Q4 2023 to $17.5 million in Q4 2024; Revenue for the fiscal year ended December 31, 2024 increased 22%, to $63.5 million, compared to last year.
  • Gross profit increased 23% over Q4 2023 to $13.2 million; Gross profit for the fiscal year ended December 31, 2024 increased 18% to $48.3 million, compared to last year.
  • Loss from operations improved 95% from a loss of $4.0 million in Q4 2023 to a loss of $0.2 million in Q4 2024; loss from operations for the fiscal year ended December 31, 2024 improved 75% to $3.0 million compared to $11.8 million in last year.
  • Adjusted EBITDA* increased 47% from a profit of $231 thousand in Q4 2023 to a profit of $339 thousand in Q4 2024; adjusted EBITDA for the fiscal year ended December 31, 2024 improved 135% to a profit of $1.7 million compared to a loss of $4.8 million in last year.
  • Total cash & cash equivalents and restricted cash were $31.9 million as of December 31, 2024 as compared to $39.0 million as of December 31, 2023.

“Moatable has achieved remarkable growth in revenue, cash flows and productivity. We are pleased to see continued revenue growth over the past twelve consecutive quarters and positive operating cash flows during each of the recent three quarters. Our revenue increased 70% from $10.3 million in Q1 2022 to $17.5 million in Q4, 2024.  We had operating cash flows of $0.5 million, $0.9 million, and $0.3 million in Q2, Q3, and Q4 2024, respectively. Adjusted EBITDA of $1.7 million profit in 2024 shows significant improvement over the $4.8 million loss in 2023, as we continue to increase our productivity and maintain our path to profitability,” said Scott Stone, the chief financial officer of Moatable.

* Adjusted EBITDA is a non-GAAP measure. We define adjusted EBITDA as loss from operations excluding share-based compensation expenses, depreciation and amortization expenses, impairment of intangibles, and certain other non-recurring expenses. See the table “Reconciliation of Non-GAAP Financial Measure to the Comparable GAAP Financial Measure” below for details.

About Moatable Inc.

Moatable, Inc. (OTC Pink: MTBLY) operates two US-based SaaS businesses, including Lofty and Trucker Path. Moatable’s American depositary shares, each of which currently represents forty-five Class A ordinary shares, trade on OTC Pink open market under the symbol “MTBLY”. For more news and information on Moatable, please visit Moatable.com.

Forward-Looking Statements

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about Moatable’s beliefs and expectations, including statements on making investments and operating businesses that generate long-term returns for investors, and expectations for future growth and innovation are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Moatable’s goals and strategies; Moatable’s future business development, financial condition and results of operations; Moatable’s expectations regarding demand for and market acceptance of its services; Moatable’s plans to enhance user experience, infrastructure and service offerings. Further information regarding these and other risks is included in our recent annual and quarterly reports on Form 10-K and Form 10-Q and other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and Moatable does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Non-GAAP Financial Information

This press release includes certain financial measures that are not presented in accordance with U.S. generally accepted accounting principles (“GAAP”), including Adjusted EBITDA.  We define Adjusted EBITDA as loss from operations excluding equity-based compensation, depreciation and amortization, impairment of intangibles, and certain other non-recurring expenses. See “Reconciliation of Non-GAAP Financial Measure to the Comparable GAAP Financial Measure” below.

We believe that these non-GAAP financial measures are provided to enhance the reader’s understanding of our past financial performance and our prospects for the future. Our management team uses these non-GAAP financial measures in assessing the Company’s performance, as well as in planning and forecasting future periods. The non-GAAP financial information is presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled non-GAAP measures used by other companies.

 

 

MOATABLE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

FOR THE THREE AND TWELVE MONTHS ENDED DECEMBR 31, 2023 and 2024

(In thousands of US dollars)

For the three months ended December 31,

For the twelve months ended December 31,

2023

2024

2023

2024

Total revenues

13,765

17,461

52,073

63,459

Total Cost of revenues:

3,055

4,280

11,212

15,149

Gross profit

10,710

13,181

40,861

48,310

Operating expenses

Selling and marketing

5,119

5,398

19,840

19,324

Research and development

4,278

5,309

18,358

19,101

General and administrative

3,396

2,643

12,599

12,638

Impairment of intangible assets

1,895

1,895

207

Total operating expenses

14,688

13,350

52,692

51,270

Loss from operations

$

(3,978)

$

(169)

$

(11,831)

$

(2,960)

 

 

RECONCILIATION OF NON-GAAP FINANCIAL MEASURE TO THE COMPARABLE GAAP
FINANCIAL MEASURE

FOR THE THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2023 and 2024

(In thousands of US dollars, except share data and per share data)

For the three months ended December 31,

For the twelve months ended December 31,

2023

2024

2023

2024

Loss from operations

$

(3,978)

$

(169)

$

(11,831)

$

(2,960)

Plus (minus)

Share-based compensation expense

702

127

2,967

1,726

Depreciation and amortization expenses

357

381

930

1,019

Impairment of intangibles

1,895

1,895

207

Correction of prior year error

550

550

(833)

Provision for insurance reimbursements

1,737

Arbitration fees

705

705

847

Adjusted EBITDA

231

339

(4,784)

1,743