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EDXM Global Establishes Board of Directors with Senior Leaders from Citadel and Virtu Financial

SINGAPORE, April 29, 2025 /PRNewswire/ — EDXM Global today announced the formation of its Board of Directors, appointing industry leaders Rakesh Madamanchi, Peter Colven and Ramesh Arumugam as Board Directors. They collectively bring extensive expertise in trading infrastructure, operations and compliance, and will support CEO Kai Kono as EDXM Global expands institutional adoption of its digital asset trading venue.

Madamanchi joins the Board with an established track record in risk management and regulatory affairs. He has served as EDXM Global’s Chief Compliance Officer since May 2024 and brings over 18 years of experience across global financial institutions, including Blockchain.com, Wells Fargo, ANZ and Standard Chartered Bank to the Board.

Colven joins the Board as a Non-Executive Director. He is the APAC Chief Operating Officer at Citadel, where he oversees key corporate functions in the region. He brings extensive operational expertise to the Board, including over two decades of experience at Goldman Sachs across London, Tokyo and Hong Kong offices, where he worked in senior roles, including Chief Operating Officer and Chief Risk Officer in Global Markets for APAC.

Arumugam joins the Board as a Non-Executive Director. He is the APAC Managing Director at Virtu Financial. He joined the firm in 2020 as Head of Business Development in Asia, leading business development and expanding institutional access to high-speed, low-latency trading platforms. Prior to this, he held key roles at NYSE Euronext’s fintech division and SGX, where he led clearing and trading sales across global markets. Arumugam’s business development experience will support EDXM Global as it accelerates its expansion in the region.

“We are honored to welcome Rakesh, Peter and Ramesh to our Board of Directors as we serve our growing roster of institutional clients,” said Kai Kono, CEO of EDXM Global. “Each brings a wealth of proven leadership and operational expertise across global financial markets. Their guidance will be instrumental as we scale our infrastructure and further deepen institutional access to digital assets.”

About EDXM Global

EDXM Global is a fast-growing digital asset trading venue for institutional clients that leverages best practices from traditional financial markets on a purpose-built crypto platform. Based in Singapore, EDXM Global’s robust liquidity environment, modern technology and nonconflicted business model are designed to meet the needs of both crypto-native firms and the world’s largest financial institutions. EDXM Global is a subsidiary of EDX Markets Holding Company Inc.

About EDX

EDX is a digital asset technology firm that combines an institution-only trading venue with a central clearinghouse. EDX Markets, our flagship marketplace, is designed to emulate the world’s most sophisticated exchanges, with deep liquidity, firm prices and low trading costs. EDX has structured its business to minimize risk for its members while providing a diverse array of operational and capital efficiencies. Backed by some of the world’s leading trading and venture capital firms, EDX is actively developing new features and expanding its geographic presence to deliver trusted, liquid and efficient crypto trading experiences for all institutions. To learn more, visit edxmarkets.com.

Media Contact

For further information and interviews with Kai Kono:
press@edxmglobal.com | +61 416 219 358

Disclaimer: EDXM Global’s products and services are only available to non-US persons and non-US institutions in select jurisdictions.

NaaS Technology Inc. Announces Completion of ADS Ratio Change

BEIJING, April 29, 2025 /PRNewswire/ — NaaS Technology Inc. (Nasdaq: NAAS) (“NaaS” or the “Company”), the first U.S.-listed EV charging service company in China, today announces that the previously announced change of the ratio (the “ADS Ratio”) of its American depositary shares (the “ADSs”) to its Class A ordinary shares has taken effect at the open of business on April 28, 2025 (U.S. Eastern Time) (“Effective Date”).

The change in the ADS Ratio, from one ADS to 200 Class A ordinary shares to one ADS to 800 Class A ordinary shares, had the same effect as a one-for-four reverse ADS split. The exchange of one new ADS for every 4 previously-held ADSs occurred automatically upon effectiveness, with the previously-held ADSs cancelled and the new ADSs issued by JPMorgan Chase Bank, N.A., the depositary bank for the Company’s ADS program.

As a result of the change in the ADS Ratio, the ADS trading price is expected to increase proportionally, although the Company can give no assurance that the ADS trading price after the change in the ADS Ratio will be proportionally equal to or greater than 4 times the ADS trading price before the change.

About NaaS Technology Inc.

NaaS Technology Inc. is the first U.S. listed EV charging service company in China. The Company is a subsidiary of Newlinks Technology Limited, a leading energy digitalization group in China. The Company is one of the leading providers of new energy asset operation services. The Company utilizes advanced technology to intelligently match charging supply with demand, offering electric vehicle users a seamless, efficient, and smart charging experience. Furthermore, NaaS empowers charging stations and charging station operators to optimize their operations, driving greater efficiency and enhancing profitability.

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update 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 its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. 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: NaaS’ goals and strategies; its future business development, financial conditions and results of operations; its ability to continuously develop new technology, services and products and keep up with changes in the industries in which it operates; growth of China’s EV charging industry and EV charging service industry and NaaS’ future business development; demand for and market acceptance of NaaS’ products and services; NaaS’ ability to protect and enforce its intellectual property rights; NaaS’ ability to attract and retain qualified executives and personnel; the COVID-19 pandemic and the effects of government and other measures that have been or will be taken in connection therewith; U.S.-China trade war and its effect on NaaS’ operation, fluctuations of the RMB exchange rate, and NaaS’ ability to obtain adequate financing for its planned capital expenditure requirements; NaaS’ relationships with end-users, customers, suppliers and other business partners; competition in the industry; relevant government policies and regulations related to the industry; and fluctuations in general economic and business conditions in China and globally. Further information regarding these and other risks is included in NaaS’ filings with the SEC.

For investor and media inquiries, please contact:

Investor Relations
NaaS Technology Inc.
E-mail: ir@enaas.com 

Media inquiries:
E-mail: pr@enaas.com 

SunCar Technology Reports 2024 Annual Results

NEW YORK, April 29, 2025 /PRNewswire/ — SunCar Technology Group Inc. (the “Company” or “SunCar”) (NASDAQ: SDA), an innovative leader in cloud-based, software-focused B2B auto eInsurance and auto services in China, today reported annual financial results for the year ended December 31, 2024.

Recent & Full Year 2024 Highlights

  • Revenue for 2024 increased 21% to $441.9 million, compared to $363.7 million in 2023
  • Adjusted EBITDA for 2024 increased 492% to $9.8 million, compared to $1.6 million in 2023
  • Expanded collaboration with Tesla to 48 cities from an initial 6 at the start of the year
  • Initiated an innovative partnership with Xiaomi to offer customized insurance products
  • Secured a two-year agreement with SAIC Maxus, a leading commercial vehicle manufacturer, to enhance eInsurance management across its dealership network
  • Increased our collaboration with auto dealers, initially with Chang’an Deepal. We embedded our insurance systems into its dealers to enable the sale of new products
  • Signed an exclusive partnership with Sam’s Club to offer car wash services for premium members across 17 major cities in China
  • Established Anji AI Technology Service Center to co-develop insurance products with our auto partners and increase their new policies, renewals, and extended warranties sales.
  • Developed AI-enhanced customer engagement features, reducing service response times, enhancing the cross-selling of insurance and non-insurance products, and increasing customer satisfaction.

Management Commentary

Zaichang Ye, Chairman and CEO of SunCar, commented, “I’m pleased with our strong 2024 results, including record revenue of $442 million and an almost 500% increase in adjusted EBITDA. These are significant milestones that reflect our business momentum. Our 100% focus on China’s domestic auto market means we are largely unimpacted by geopolitical factors. This year, we have made important progress in advancing our AI cloud-enabled SaaS model, increasing our recurring revenue, and positioning SunCar for sustained and scalable growth. The continued focus of our EV partners on improving their customers’ post-sale journey provides a long-term and meaningful tailwind for the business. Looking to 2025 and beyond, we remain focused on expanding our AI and software development capabilities, broadening our product offerings, and deepening our partnerships to deliver greater value for our customers and shareholders.”

 eInsurance Review

  • In Q4, 2024, we expanded the co-development of new insurance products with Tesla, as an early adopter, and received positive feedback from the customer.
  • Initiated an innovative partnership with Xiaomi to begin the sale of customized auto insurance with their first vehicle delivery in April 2024
  • Progressed our eInsurance partnerships with leading EV manufacturers including Nio (NIO), Zeekr (ZK), Li Auto (LI), XPeng (XPEV), Seres (601127.SHH), Leapmotor (9863.HK), SAIC Motor (600104.SS), and Changan AVATR (000625.SHE). These collaborations have driven GMV growth beyond expectations.
  • Advanced development of the SaaS business by securing a specific contract with Zeekr to develop and integrate our insurance platform into Zeekr’s app ecosystem.
  • Secured a two-year agreement with SAIC Maxus, a leading commercial vehicle manufacturer, to enhance eInsurance management across its dealership network.
  • Increased collaboration with auto dealers: Starting with Chang’an Deepal dealers, we embedded our insurance systems into the dealer networks to enable the sale of new products. SunCar has hired four regional managers to support cooperation with the dealers.
  • Actively engaged in discussions with multiple other gas vehicle manufacturers regarding the significant benefits our eInsurance platform offers to the traditional gas vehicle market
  • Expanded our portfolio of insurance products by building customized, vehicle-specific insurance, including loaner vehicles and repair subsidies for various sales channels

Auto Services Review

Luxury Concierge Services’ Expansion

  • Provided high-end limousine services for leading luxury brands, including Chanel, Dior, and Omega, most notably supporting Chanel’s 2024 Hangzhou Show by providing high-quality transportation services for its VIP guests.
  • Secured an exclusive partnership with Sam’s Club to offer car wash services for premium members across 17 major cities in China.

Increased Cooperation with China’s Major App Companies

  • Renewed car wash service agreements with Didi, Meituan, and Alipay.
  • Signed a new car wash partnership with Douyin.
  • Enhanced Alipay collaboration: Expanded from offering “Car Life” channel discounts into the “Car God Card” program.
  • Strategic partnership with Ant Fortune to launch exclusive airport limousine services for Ant Fortune Black Card V3 members, which target high-net-worth clients.

New Projects and Expanded Services to Bank Customers

  • Expanded long-standing auto services’ partnerships with China’s leading banks. In particular, the Company utilizes AI technology to improve the efficiency of its services’ network and our Auto Services’ operations in general
  • Increased our extensive portfolio of 400+ bank-industry projects by adding 39 new projects, including card organizations. Key new projects include:

National & Joint-Stock Banks:

    • CITIC Private Banking – domestic/international airport transfers)
    • ICBC Platinum/Black Card – airport transfers
    • China Merchants Private Banking – domestic limousine services
    • Bank of China Mastercard – airport transfers
    • Bank of Communications – personal travel services

Regional Bank Projects:

    • Shanghai Rural Commercial Bank – retail travel services
    • Mengshang Bank – designated driver services
    • Agricultural Bank of China – car wash services
    • Agricultural Bank of China – designated driver services
    • CCB Dragon Card – car wash services
    • ICBC – smart outbound calling

Increased Auto Services Collaborations with Major Insurance Firms

  • Partnered with over 100 insurance branches, including Ping An’s top 10 P&C branches and 20+ branches of China Continent Insurance.
  • Broadened service scope beyond traditional offerings to include limousine transfers and EV charging, aligning with evolving customer and market demands.

Technology and Innovation Review

  • Leveraged AI to improve operations and customer experience through innovative new product features, including real-time flight delay alerts, intelligent order reminders, driver and vehicle analytics, and call quality monitoring.
  • Integrated AI features into our products that drove cost savings, operational efficiencies, and higher customer satisfaction. From an internal operations perspective, the extensive use of AI is improving the efficiency of our software development and testing processes.
  • Through co-development projects, we are helping our EV customers cost-effectively build customized insurance solutions that capture downstream insurance and maintenance revenue.

Management Update  

  • Appointed Breaux Walker as Chief Strategy Officer. With significant business development and investment banking experience in technology, Mr. Walker has successfully scaled companies in China and North America. He joined SunCar in 2024 as a consultant and drives our strategic growth initiatives.

Full Year 2024 Financial Results

  • Revenue increased by 21% to $441.9 million for the year ended December 31, 2024, from $363.7 million for the year ended December 31, 2023.
  • Auto eInsurance revenue increased by 44% to $170.5 million for the year ended December 31, 2024, from $118.1 million for the year ended December 31, 2023. This growth was driven by the increased number of insurance policies sold in the year ended December 31, 2024.
  • Technology Services revenue increased by 46% to $44.9 million for the year ended December 31, 2024, from $30.7 million for the year ended December 31, 2023.
  • Auto Services revenue increased 5% to $226.5 million for the year ended December 31, 2024, from $215.0 million for the year ended December 31, 2023.
  • Operating costs and expenses increased to $500.3 million for the year ended December 31, 2024, and $379.2 million for the year ending December 31, 2023.
  • Integrated service costs increased to $226.2 million in 2024, from $209.6 million in the prior-year period.
  • Selling expenses increased from $20.6 million in the year ended December 31, 2023, to $22.6 million in 2024. This increase was primarily due to an increase in promotion expenses of $5.3 million for market expansion, partially offset by a decrease of $2.3 million for compensation for part-time sales personnel and $1.2 million for depreciation of fixed assets.
  • General and administrative expenses increased from $22.5 million in 2023 to $47.0 million in 2024. This increase was primarily due to a $31.0 million increase in share-based compensation expenses related to the 2024 Equity Incentive Plan and a $5.4 million increase in expected credit losses on account receivables.
  • Research and development expenses increased from $14.1 million in 2023 to $40.2 million in 2024. The primary reason for the increase was a $31.0 million share-based compensation expense related to the 2024 Equity Incentive Plan. This one-time expense was partially offset by a decrease of $4.9 million in technology service fees due to reduced purchases of external services.
  • Adjusted EBITDA, a non-GAAP metric that excludes certain non-recurring items and non-cash expenses, is helpful in evaluating our operational performance in addition to the GAAP metrics. Our Adjusted EBITDA increased by 492% to $9.8 million for the year ended December 31, 2024, compared to $1.6 million for the year ended December 31, 2023.

Conference Call Information

SunCar will host a conference call on Tuesday, April 29th at 8:00 AM ET (5:00 AM PT) for the investment community to discuss the Company’s financial results and provide a business update.

To access the call by phone, please dial 1-877-407-0752 (for international callers, please dial 1-201-389-0912) approximately 10 minutes prior to the start of the call. An audio webcast of the conference call will be available online at https://viavid.webcasts.com/starthere.jsp?ei=1716706&tp_key=51381ecbeb.

A webcast replay will also be available for a limited time at the following link: https://viavid.webcasts.com/starthere.jsp?ei=1716706&tp_key=51381ecbeb.

About SunCar Technology Group Inc.

Founded in 2007, SunCar is transforming the customer journey for auto services and auto insurance in China, the largest passenger vehicle market in the world. SunCar develops and operates cloud-based platforms that seamlessly connect drivers with a wide range of auto services and insurance coverage options through a nationwide network of sales partners. As a result, SunCar has established itself as the leader in China in the auto eInsurance market for electric vehicles and the B2B auto services market. The Company’s intelligent cloud platform empowers its enterprise customers to access, manage, and optimize their auto eInsurance and auto service offerings. Through SunCar, drivers gain access to a wide variety of high-quality services from tens of thousands of independent providers, all from a single application. For more information, please visit: https://suncartech.com

Forward-Looking Statements

This press release contains information about the Company’s view of its future expectations, plans, and prospects that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. For a detailed discussion of these risks, please refer to the Company’s Annual Report on Form 20-F and other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to update or revise these statements, except as required by law.

Contact Information:

SunCar:
Investor Relations: Ms. Hui Jiang
Email: IR@suncartech.com
Legal: Ms. Li Chen
Email: chenli@suncartech.com

U.S. Investor Relations
Tom Cook
Managing Director
ICR
Email: Tom.Cook@icrinc.com

SOPHiA GENETICS Announces Expanded Collaboration with AstraZeneca to Accelerate Liquid Biopsy Testing Globally from AACR

BOSTON and ROLLE, Switzerland, April 29, 2025 /PRNewswire/ — SOPHiA GENETICS (Nasdaq: SOPH), a cloud-native healthcare technology company and global leader in data-driven medicine, today announced the expansion of its ongoing collaboration with AstraZeneca (LSE/STO/Nasdaq: AZN) to accelerate the deployment of MSK-ACCESS® powered with SOPHiA DDM™ globally. Building on the initial collaboration announced in October 2024, this new phase will extend the test’s reach to a total of 30 clinical institutions worldwide in 2025.

Developed in collaboration with Memorial Sloan Kettering Cancer Center, MSK-ACCESS® powered with SOPHiA DDM™ is an innovative liquid biopsy testing application designed to detect actionable genomic alterations from a single blood draw using proprietary, state-of-the-art algorithms which analyze circulating tumor DNA (ctDNA). The application supports real-time cancer monitoring and treatment selection when traditional tissue biopsies are not feasible due to cost, turnaround time, insufficient tissue, or the invasiveness of the procedure.

The expanded rollout will continue to contribute to AstraZeneca’s global real-world evidence initiatives and help further validate the clinical impact of decentralized liquid biopsy testing across diverse healthcare systems. By increasing the availability of MSK-ACCESS® powered with SOPHiA DDM™, SOPHiA GENETICS and AstraZeneca aim to understand further how liquid biopsy testing can complement solid tissue testing and, in some cases, provide greater benefit for labs and patients.  

The announcement coincides with SOPHiA GENETICS’s presentation at AACR, in which the company presented data demonstrating the robust transferability of the decentralized MSK-ACCESS® powered with SOPHiA DDMTM solution. Historically, site-to-site discordance has been a major barrier to the widespread adoption of liquid biopsy testing. SOPHiA GENETICS presented real-world data highlighting the consistent accuracy and precision of MSK-ACCESS® powered with SOPHiA DDMTM across various laboratory settings. Interim results from the multi-center study demonstrated the high analytical performance of the decentralized test in line with the original single-site test at Memorial Sloan Kettering Cancer Center in New York.

“Our collaboration with AstraZeneca represents a significant step toward scaling next-generation oncology diagnostics globally,” said Ross Muken, President, SOPHiA GENETICS. “This expanded deployment reflects the growing momentum behind liquid biopsy and our shared ambition to make these technologies more accessible and impactful worldwide.”

Visit SOPHiA GENETICS at the American Association for Cancer Research’s Annual Meeting in Chicago, Illinois from April 25th–30th to learn more about how SOPHiA GENETICS is collaborating with AstraZeneca to transform patient care with data-driven medicine.

For more information on SOPHiA GENETICS, visit SOPHiAGENETICS.COM, or connect on LinkedIn

About SOPHiA GENETICS  

SOPHiA GENETICS (Nasdaq: SOPH) is a cloud-native healthcare technology company on a mission to expand access to data-driven medicine by using AI to deliver world-class care to patients with cancer and rare disorders across the globe. It is the creator of the SOPHiA DDM™ Platform, which analyzes complex genomic and multimodal data and generates real-time, actionable insights for a broad global network of hospital, laboratory, and biopharma institutions.  For more information, visit SOPHiAGENETICS.COM and connect with us on LinkedIn

SOPHiA GENETICS products are for Research Use Only and not for use in diagnostic procedures unless specified otherwise. The information in this press release is about products that may or may not be available in different countries and, if applicable, may or may not have received approval or market clearance by a governmental regulatory body for different indications for use. Please contact support@sophiagenetics.com  to obtain the appropriate product information for your country of residence. 

SOPHiA GENETICS Forward-Looking Statements: 
This press release contains statements that constitute forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy, products, and technology, as well as plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including those described in our filings with the U.S. Securities and Exchange Commission. No assurance can be given that such future results will be achieved. Such forward-looking statements contained in this press release speak only as of the date hereof. We expressly disclaim any obligation or undertaking to update these forward-looking statements contained in this press release to reflect any change in our expectations or any change in events, conditions, or circumstances on which such statements are based, unless required to do so by applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. 

Media Contact:
media@sophiagenetics.com

 

MicroAlgo Announces Strong Net Income and Cash Growth in 2024, Driven by Robust Demand for Central Processing Algorithm Services

SHENZHEN, China, April 29, 2025 /PRNewswire/ — MicroAlgo Inc. (NASDAQ: MLGO), (the “Company”), a leading developer and application provider of bespoke central processing algorithms, today announced its financial results for the year ended December 31, 2024. The Company reported total revenues of RMB 541.5 million (USD 75.3 million) and net income of RMB 53.4 million (USD 7.3 million), marking a significant turnaround from the previous year’s net loss of RMB 266.2 million and net loss of RMB 46.54 million in 2022. This return to profitability is largely attributed to the company’s strategic shift away from its intelligent chips and services segment, and dedication of resources resulting in strong performance in its central processing algorithm services, which accounted for 100% of revenues in 2024.

The Company’s strategic focus on central processing algorithm services has proven effective, with revenues from this segment reaching RMB 541.5 million (USD 75.3 million). MicroAlgo’s ability to provide comprehensive solutions that integrate these algorithms with its customers’ needs have proven successful. The Company’s ongoing investment in research and development, totaling RMB 111.7 million (USD 15.5 million) in 2024, has been crucial in driving innovation and maintaining a competitive edge in the rapidly evolving technology landscape.

MicroAlgo’s success in 2024 demonstrates its ability to capitalize on the growing demand for central processing algorithm services in industries such as internet advertising and online gaming. The Company’s strategic initiatives, including expanding its application fields and diversifying its customer base, position it for continued growth and success in the central processing algorithm services industry. With a strong balance sheet, including cash and cash equivalents of approximately RMB 1,035.9 million (USD 144.1 million) as of December 31, 2024 (as compared to the RMB 317 million in 2023), MicroAlgo is well-positioned to pursue strategic opportunities and further enhance its technology capabilities.

Quote from Min Shu, CEO of MicroAlgo:

“We are very pleased with MicroAlgo’s performance in 2024, achieving profitability and demonstrating the strength of our central processing algorithm services segment. Our commitment to innovation and providing cutting-edge solutions has enabled us to deliver significant value to our customers. Looking ahead, we will continue to invest in research and development, expand our market reach, and pursue strategic opportunities to further solidify our position as a leader in the data intelligence processing industry. We are confident in our ability to drive sustainable growth and create long-term value for our shareholders.”

The information disclosed in this press release does not purport to be complete and is qualified in its entirety by reference to the Company’s annual report on Form 20-F. The annual report, which contains the Company’s audited consolidate statements, can be accessed on the SEC’s website at http://www.sec.gov and on the Company’s investor relations website at http://ir.microalgor.com/

About MicroAlgo Inc.

MicroAlgo Inc. (the “MicroAlgo”), a Cayman Islands exempted company, is dedicated to the development and application of bespoke central processing algorithms. MicroAlgo provides comprehensive solutions to customers by integrating central processing algorithms with software or hardware, or both, thereby helping them to increase the number of customers, improve end-user satisfaction, achieve direct cost savings, reduce power consumption, and achieve technical goals. The range of MicroAlgo’s services includes algorithm optimization, accelerating computing power without the need for hardware upgrades, lightweight data processing, and data intelligence services. MicroAlgo’s ability to efficiently deliver software and hardware optimization to customers through bespoke central processing algorithms serves as a driving force for MicroAlgo’s long-term development.

Safe Harbor / Forward-Looking Statements

This press release contains statements that may constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond the control of MicroAlgo, including those set forth in the Risk Factors section of MicroAlgo’s periodic reports on Forms 20-F and 6-K filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, MicroAlgo’s expectations with respect to future performance and anticipated financial impacts of the business transaction.

MicroAlgo undertakes no obligation to update these statements for revisions or changes after the date of this release, except as may be required by law.

World cultures and innovations converge in 34th Abu Dhabi International Book Fair

  • The fair offers 2,000 activities with 1,400 exhibitors from 96 countries, spotlighting Caribbean culture as Guest of Honour, Ibn Sina as Focus Personality, and ‘One Thousand and One Nights’ as Book of the World.

ABU DHABI, UAE, April 29, 2025 /PRNewswire/ — The 34th Abu Dhabi International Book Fair (ADIBF), organised by the Abu Dhabi Arabic Language Centre, part of the Department of Culture and Tourism – Abu Dhabi, has launched its activities, offering a platform for cultures and innovations of the world to converge, interact, and explore new horizons of knowledge.

Abu Dhabi Arabic Language Centre Stand at the ADIBF 2025
Abu Dhabi Arabic Language Centre Stand at the ADIBF 2025

Continuing until 5 May 2025 under the theme ‘Knowledge Illuminates Our Community’, the fair brings 1,400 exhibitors from 96 countries, offering a comprehensive programme of 2,000 activities that cater to all community members, while spotlighting Caribbean culture as Guest of Honour, in recognition of its intellectual distinction and impact on global culture.

Moreover, ADIBF 2025 celebrates Ibn Sina as its Focus Personality, marking the 1,000-year anniversary of his book The Canon of Medicine, and highlighting his legacy as one of the scientists that contributed most to humanity’s advancement. It also features One Thousand and One Nights as Book of the World, underlining its timeless, cross-cultural, and enduring influence.

The fair welcomes 20 countries participating for the first time. It also introduces the ‘On the Path of Knowledge’ initiative, honours pioneers of Arab publishing, and welcomes prominent writers, thinkers, publishers, and content creators from the Arab region and the world to present various activities under five themes: Society, Fantasy, Sustainability, Arab Sciences, and Artificial Intelligence & Innovation. The exhibition also hosts the Poetry Majlis, which celebrates diverse poetic experiences with prominent poets, authors, and experts for 10 days.

Additionally, ADIBF 2025 hosts the third season of Podcast from Abu Dhabi, presenting high-quality content that discusses the evolving literary scene, while launching its inaugural ‘Digitising Creativity’ conference, which explores where AI and art intersect and how emerging technologies affect content creation.

Visitors can enjoy arts, entertainment, photography, and the World’s Cuisine experience, while children and youth can join workshops that blend learning and fun, with scientific and creative activities that develop their skills and strengthen their connection to their cultural heritage.

Meanwhile, the Under the Ghaf’s Shade experience offers readings from selected books, followed by book signings with guest authors, whereas the Business Lounge connects publishers and content creators to encourage collaboration in the industry.

Furthermore, the ADIBF Professional Programme offers a platform for supporting the publishing and creative industries, embracing the latest trends including AI and digital technologies. Meanwhile, the Digital Square offers activities and initiatives aimed at developing the publishing sector.

The ADIBF will launch initiatives to promote reading and creativity, and support the Arabic language, in line with the UAE and Abu Dhabi’s vision to nurture emerging literary talent, enrich the Arabic library, and build a community of avid readers, capable of producing Arabic content for the digital era.

 

Forward Networks Named Winner of the Global InfoSec Awards For The Third Year In A Row

Forward Networks Wins the Trailblazer Compliance Award In 13th Annual Global InfoSec Awards at RSAC 2025

SAN FRANCISCO, April 29, 2025 /PRNewswire/ — Forward Networks announced today it has been named the “Trailblazer Compliance” Award Winner in Cyber Defense Magazine’s 13th annual Global InfoSec Awards. The award recognition marks Forward’s third straight year winning a Global InfoSec Award, after being awarded the “Market Leader in Vulnerability Assessment, Remediation, and Management” award in 2024 and the “Hot Company in Cloud Security” award in 2023.

Forward Enterprise is the only network digital twin that delivers an always-accurate compliance status for the entire network, accompanied by a prioritized remediation plan for any issues identified during data collection. Forward Enterprise gathers configuration and state data from all L2-L7 devices within the network, on-prem and cloud. This data forms an accurate network inventory and topology, serving as the foundation for its groundbreaking compliance features, including Continuous Network Security Compliance Monitoring, CVE (Common Vulnerabilities and Exposures) Remediation, and Zero Trust Posture Validation.

“Security compliance continues to grow in importance as the attack surface evolves and new threats emerge. At Forward Enterprise, our goal is to reduce uncertainty by providing an accurate, up-to-date view of compliance, along with clear, actionable insights when changes are needed to protect the network,” said Chiara Regale, SVP of Product and UX at Forward Networks. “We’re focused on helping security teams move away from time-consuming manual processes while delivering unprecedented insight into their security posture. Being recognized as a Global InfoSec Award winner for the third year in a row is truly an honor, and a testament to our team’s dedication.”

“We scoured the globe looking for cybersecurity innovators that could make a huge difference and potentially help turn the tide against the exponential growth in cyber-crime. Forward Networks is absolutely worthy of this coveted award and consideration for deployment in your environment,” said Yan Ross, Global Editor of Cyber Defense Magazine.

Learn more about Forward Networks Continuous Security Compliance Monitoring

Learn more about this year’s winners:  http://www.cyberdefenseawards.com/

About Forward Networks
Forward Networks is revolutionizing the way large networks are managed. Forward’s advanced software delivers a digital twin of the network, enabling network operators to ensure the network is secure, reliable, and agile. The platform supports devices from all major networking vendors and cloud operators, including AWS, Azure, and Google Cloud Platform. Forward Networks was founded in 2013 by four Stanford Ph.D. graduates and is headquartered in Santa Clara, California. Investors include MSD Partners, Goldman Sachs, Andreessen Horowitz, Threshold Ventures, Section 32, Omega Venture Partners, and A. Capital. For more information, visit www.forwardnetworks.com.

About Cyber Defense Magazine
Cyber Defense Magazine is the premier source of cyber security news and information for InfoSec professions in business and government. We are managed and published by and for ethical, honest, passionate information security professionals. Our mission is to share cutting-edge knowledge, real-world stories and awards on the best ideas, products, and services in the information technology industry. We deliver electronic magazines every month online for free, and special editions exclusively for the RSA Conferences. CDM is a proud member of the Cyber Defense Media Group. Learn more about us at https://www.cyberdefensemagazine.com and visit https://www.cyberdefensetv.com and https://www.cyberdefenseradio.com to see and hear some of the most informative interviews of many of these winning company executives. Join a webinar at https://www.cyberdefensewebinars.com and realize that infosec knowledge is power.

Forward Networks Contacts:
Dustin Rausa, Guyer Group
dustin.rausa@guyergroup.com

Dawn Slusher, Forward Networks
dawnslusher@forwardnetworks.com

 

xTool Launches Revolutionary MetalFab Laser Welder and Enhanced User Experience

New xTool Squad customer service program will expand the brand’s offline services for xTool products globally

SANTA CLARA, Calif., April 28, 2025 /PRNewswire/ — xTool, a leader in DIY laser engraving, announced the launch of MetalFab, the world’s first integrated laser welder and fiber CNC cutter. Designed for advanced metal fabrication through DIY innovation, the MetalFab is a versatile six-in-one powerhouse machine for handheld laser welding, precision CNC metal cutting, rust removal, and more.

xTool MetalFab
xTool MetalFab

At a livestream launch event on April 24, xTool simultaneously unveiled the MetalFab and xTool Squad, a service initiative that reinforces the company’s dedication to delivering a holistic user experience by combining innovative products with robust customer support, beginning with enhanced accessibility in the global market.

Revolutionizing Metal Fabrication

xTool MetalFab redefines metalworking accessibility for individual creators and small businesses, regardless of their expertise, by effortlessly switching between welding and cutting modes. Operation is remarkably simple: users insert the welding gun into the CNC cutting platform for an intuitive, two-step workflow. Outstanding features include:

  • Powerful Performance: Industrial-grade Coherent chips efficiently convert electrical energy to deliver a high-performance 1200W output.
  • Efficient Material Processing: 0.2mm to 5mm thickness range, achieving 8x the efficiency of traditional welding.
  • Intelligent Material Optimization: Dual 16MP panoramic camera with AI algorithms for a 98.7% material utilization rate.
  • High-Precision Cutting: AI-powered precision with ±0.1mm cutting accuracy for ultra-fine detailing.
  • Significant Gas Savings: xTool accessory optimizes pressure (0.6-0.8 MPa), saving up to 50% gas compared to nitrogen cutting.

A Simple Solution for Comprehensive Metalworking

To boost precision and efficiency, the MetalFab is equipped with a suite of advanced, intelligent features. The CNC platform boasts a 10mm carbon steel capacity and cutting speeds up to 400mm/s. Behind precision cutting lies in the exclusive technologies, VibeFreeCut™ for optimized motion trajectories, ObstacleFree™ for collision avoidance, and FlexiTrack™ for real-time focus adjustments to ensure superior accuracy and efficiency. The 8-inch touchscreen provides a user-friendly interface for easy operation of the powerful software, which can be preset with 108 parameters and store customized settings. With its power, ease of use, and comprehensive support, xTool MetalFab significantly lowers the barriers to entry in metal fabrication, fostering wider participation and driving innovation within the metalworking sector.

xTool Launches xTool Squad to Enhance Local Customer Service

During the April 24 livestream, xTool also announced the xTool Squad program, which aims to build a laser creativity hub with the user community and will offer expanded offline services for xTool laser products globally in 2025.  The program provides a complete pre-buying experience and expert local support through Professional Hubs, Service Stations, and Demo Rooms, specifically catering to large-scale machines like MetalFab.

“xTool Squad represents a fresh approach to community engagement designed to connect innovators, makers, and businesses through hands-on experiences with xTool’s cutting-edge technology,” said Stein Shi, Head of Global Retail Marketing & General Manager of US at xTool.

By offering more firsthand opportunities to experience and test new products via live demos and smart services, xTool will empower users to significantly reduce trial-and-error costs and enjoy a streamlined purchase journey. This elevates the buying process to a comprehensive xTool experience. Demo Room appointments for MetalFab and other xTool laser products can now be booked on xTool’s support website.

MetalFab is now available for a pre-order discount on Kickstarter

About xTool:

xTool is a leading manufacturer of laser cutters, engravers, and DIY tools. Founded in 2020 to make creation simple, xTool believes creativity knows no bounds and aims to fulfill the needs for creation by providing solutions combined of both innovative techniques and extraordinary user experience. For more information, visit xTool.com.