31 C
Vientiane
Saturday, April 26, 2025
spot_img
Home Blog Page 420

First Phosphate Updates on Corporate Developments, Management Appointments and Insider Stock Purchases


Saguenay, Quebec – Newsfile Corp. – February 27, 2025 – First Phosphate Corp. (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company“) is pleased to announce the following corporate updates.

Bégin-Lamarche Phosphate Mine

The Company recently concluded its National Instrument 43-101 (“NI-43-101”) compliant mineral resource estimate (September 2024) and its NI 43-101 compliant Preliminary Economic Assessment (December 2024) for its Bégin-Lamarche property. The Company is in the process of completing its internal pre-feasibility analysis and is readying to launch its formal feasibility study.

Buildout capex for the mine is estimated at US $459 million. Annual mine revenues over 23 years are expected to peak at US $362 million at a 37.1% pre-tax IRR.

In December 2024, the Company announced definitive long-term agreements with creditworthy offtake partners that are not impacted by the current North American trade-tariff situation.

The Company also continues to work towards project financial participation in the Bégin-Lamarche mining project by its indigenous partner, Pekuakamiulnuatsh First Nation.

Phosphoric Acid Facility

In December 2024, the Company concluded licensing and engineering agreements for a 190,000 tonne per annum phosphoric acid facility. The internal pre-feasibility and capex study for the facility has now completed by engineering firm Ballestra S.pA. (though not NI 43-101 compliant).

Buildout capex for the facility is estimated at US $175 million. Revenues from the facility at today’s prices could total $284 million per annum using directly produced apatite concentrate from the Company’s future Bégin-Lamarche phosphate mine. Definitive offtake in place for this facility is not impacted by the current North American trade-tariff situation.

First Saguenay Iron Phosphate Plant

In September, 2024, La Baie, Quebec was chosen as the site for the Company’s First Saguenay iron phosphate facility. The feasibility study for the facility has now been fully completed by Ultion Technologies Inc. (though not NI 43-101 compliant).

Pending financing, First Saguenay is expected to start small-scale production of iron phosphate pre-cursor material in 2026 ramping up to 11,882 tonnes per annum by 2028 with yearly revenues projected at US $53 million. Funding costs for the facility are estimated at US $76 million.

Funding discussions for the facility are ongoing and proceeding as expected. The Company is also waiting for clarity on the impact of the North American trade-tariff situation before assessing its final deployment timelines and rollout plans. Building owner Logistique Proco Inc. has pledged maximum flexibility in terms of lease uptake. The Company has also located various secondary plant development locations in the United States should the North American trade-tariff situation require production facilities in multiple countries.

The Company is currently negotiating definitive supply agreements with major purchasers of LFP CAM materials in various segments of the LFP battery industry.

In November 2024, the Company signed a collaboration agreement with GKN Hoeganaes, a division of GKN Powder Metallurgy and one of the largest iron powder producers globally. GKN will be able to supply the Company with up to 400,000 tonnes of iron powder required to be able to eventually scale iron phosphate pre-cursor using large economies of scale.

GKN Hoeganaes was also successful in integrating the Company’s magnetite (a secondary recovery from its Bégin-Lamarche property) into the GKN proprietary Ancorsteel melting process. This innovative process has led to the development of a high-purity iron powder, which can serve as an input for iron phosphate pre-cursor production. Given, this development, the Company should be in a position to create iron phosphate precursor from both the phosphate and the iron material emanating from its Bégin-Lamarche property to achieve full backwards integration with the mine source.

The commencement of the industrial operations proposed by the Company, including the Bégin-Lamarche phosphate mine, phosphoric acid facility and the First Saguenay iron phosphate facility, are subject to a number of conditions, including permitting and financing which the Company continues to work towards diligently.

Management Appointments

Armand MacKenzie has been promoted to the post of President of the Company and David Dufour to the position of Senior Vice-President.

“Armand and David have proven their abilities to assume team leadership. Armand will lead discussions with our indigenous partner and indigenous financial institutions to ensure we meet our objective of having deep Indigenous financial participation in the Company. David will drive operations and community relations as we begin to enter into the next stages of planning of our feasibility study,” said John Passalacqua, CEO of First Phosphate.

Insider Stock Purchases

Company Chairman, Laurence W. Zeifman, has acquired, through a corporation controlled by him, a total of 40,000 common shares of the Company for $7,475 in the open market since January 1, 2025. Mr. Zeifman has made open market purchases of 359,500 shares for $74,390 since the Company has been publicly listed in February 2023.

Company Independent Director, Peter Nicholson, has acquired, through a corporation controlled by him, a total of 197,500 common shares of the Company for $58,945 in the open market since January 1, 2025. Mr. Nicholson has made open market purchases of 532,000 shares for $146,415 since joining as director in September 2024.

CEO, John Passalacqua, has acquired, through an entity controlled by him, a total of 811,000 common shares of the Company for $262,424.45 in the open market since January 1, 2025. Mr. Passalacqua has made open market purchases of 1,861,500 shares for $507,324 since the Company has been publicly listed in February 2023.

Company management continues to receive 80% of its compensation in the form of RSUs while the Company board of directors receives 100% of its compensation in the form of RSUs. All is done with the intent of keeping capital resources focused on the development of the Company and to have management and board more deeply involved in the ownership structure of the Company.

The Company has approved the grant of 2,658,580 restricted share units of the Company (“RSUs”) to eligible directors, management and staff of the Company as part of compensation expenses for the 6 month period commencing March 1, 2025. The RSUs vest on August 31, 2025 and shares issued under these RSUs will be subject to a hold period of four months plus one day from the date of issuance. The RSUs will be granted in accordance with and subject to the Company’s Omnibus Equity Incentive Plan.

List of Major Accomplishments of the Company in 2024

December 18, 2024: Signed Long-term Offtake Agreements and Interest from Financial Partner
https://firstphosphate.com/offtake

December 4, 2024: Announced PEA for Bégin-Lamarche Property
https://firstphosphate.com/PEA_BLM

December 2, 2024: Signed License Agreement with Global Leader in MGA Phosphoric Acid Technology
https://firstphosphate.com/PAP_license

November 20, 2024: Signed Partnership Agreement with GKN Hoeganaes for LFP Development
https://firstphosphate.com/GKN_FPC

September 18, 2024: Reported Initial Mineral Resource Estimate at Bégin-Lamarche Property
https://firstphosphate.com/MRE

September 9, 2024: Choose Facility for Deployment of Iron Phosphate Plant
https://firstphosphate.com/FirstSaguenay

July 25, 2024: Completion of 25,000 m drill campaign at the Bégin-Lamarche Property
https://firstphosphate.com/25000-m-drill-campaign

May 8, 2024: LOI announced for Rapidwall Housing Manufacturing Plant to Recycle Gypsum
https://firstphosphate.com/RapidWall_FPC

April 17, 2024: Gary Stanley, former U.S. Department of Commerce, Joins the Advisory Board
https://firstphosphate.com/GaryStanley

April 9, 2024: Collaboration Agreement announced with Pekuakamiulnuatsh First Nation
https://firstphosphate.com/pekuakamiulnuatsh

March 13, 2024: MOU signed with Groupe Goyette for Logistics at the Hebertville-Station Intermodal Facility
https://firstphosphate.com/groupe-goyette

March 4, 2024: Mining Research and Innovation Grant received from Quebec Ministry of Natural Resources
https://firstphosphate.com/MNRF

February 28, 2024: MOU signed with Craler for the Development of Global Logistical Competencies
https://firstphosphate.com/craler

February 22, 2024: Received Letter of Support from Mario Simard, Canadian Parliamentary Deputy for the Riding of Jonquière, Québec
https://firstphosphate.com/MarioSimard

February 15, 2024: Joint Development Agreement signed with Integrals Power to Produce Environmentally Compliant Battery Grade Iron III Phosphate Precursor
https://firstphosphate.com/ipl_jda

February 13, 2024: Completed Pilot Production of LFP Battery-Grade Purified Phosphoric Acid
https://firstphosphate.com/phos_acid

January 22, 2024: Closed Oversubscribed Private Placement Financing for Total Proceeds of $8.2 Million
https://firstphosphate.com/privateplacement

Qualified Person

The scientific and technical disclosure for First Phosphate included in this news release has been reviewed and approved by Gilles Laverdière, P.Geo. Mr. Laverdière is Chief Geologist for the Company and a Qualified Person under National Instrument 43-101 – Standards of Disclosure of Mineral Projects (“NI 43-101”).

About First Phosphate Corp.

First Phosphate (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the Lithium Iron Phosphate (“LFP”) battery industry. First Phosphate is committed to producing at high purity level, in a responsible manner and with low anticipated carbon footprint. First Phosphate plans to vertically integrate from mine source directly into the supply chains of major North American LFP battery producers that require battery grade LFP cathode active material emanating from a consistent and secure supply source. First Phosphate is owner and developer of the Bégin-Lamarche Property in Saguenay-Lac-St-Jean, Quebec, Canada that consists of rare anorthosite igneous phosphate rock that generally yields high purity phosphate material devoid of harmful concentrations of deleterious elements.

For additional information, please contact:

Bennett Kurtz
Chief Financial Officer
bennett@firstphosphate.com
Tel: +1 (416) 200-0657

Investor Relations: investor@firstphosphate.com
Media Relations: media@firstphosphate.com
Website: www.FirstPhosphate.com

Follow First Phosphate:

Twitter: https://twitter.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate

-30-

Forward-Looking Information and Cautionary Statements

This news release contains certain statements and information that may be considered “forward-looking statements” and “forward looking information” within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved” and other similar expressions. In addition, statements in this news release that are not historical facts are forward looking statements, including, among other things,: the Company’s planned exploration and production activities; the properties and composition of any extracted phosphate; the Company’s plans for vertical integration into North American supply chains; the Company’s future plans relating to the design, build, operation and maintenance of the Bégin-Lamarche Phosphate Mine (and the the possibility of eventual economic extraction of minerals from the therefrom), Phosphoric Acid Facility, and the First Saguenay Iron Phosphate Plant; the projected economics of the projects, including buildout capex, annual mine revenues, life of the mine, the internal rate of return; and annual production; the timing and entering into of its detailed engineering studies for the Phosphoric Acid Facility, timing of the internal pre-feasibility analysis and formal feasibility study, and projected needs and availability of financing; possible future financial involvement of Pekuakamiulnuatsh First Nation; the entering into of definitive offtake agreements and definitive supply agreements with major purchasers of LFP CAM materials; the supply of iron powder the future integration of operations between the Company and GKN Hoeganaes the scaling of GKN Hoeganaes facilities, the future supply of iron powder, and the creation of iron phosphate precursor from both the phosphate and the iron material emanating from its own property for a full vertical integration.

These statements and other forward-looking information are based on assumptions and estimates that the Company believes are appropriate and reasonable in the circumstances, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in the Company’s public disclosure record including the short form base prospectus dated June 5, 2024, as well as: there being no significant disruptions affecting the activities of the Company or inability to access required project inputs; permitting and development of the projects being consistent with the Company’s expectations; the accuracy of the current mineral resource estimates for the Company and results of metallurgical testing; certain price assumptions for P2O5 and Fe2O3; inflation and prices for Company project inputs being approximately consistent with anticipated levels; the Company’s relationship with Pekuakamiulnuatsh Takuhikan First Nation and other Indigenous parties remaining consistent with the Company’s expectations; the Company’s relationship with other third party partners and suppliers remaining consistent with the Company’s expectations; and government relations and actions being consistent with Company expectations.

There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There can be no assurance that any opportunity will be successful, commercially viable, completed on time or on budget, or will generate any meaningful revenues, savings or earnings, as the case may be, for the Company. In addition, the Company will incur costs in pursuing any particular opportunity, which may be significant. These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the Company and, though they should be considered carefully, should be considered in conjunction with the risk factors described in the Company’s other documents filed with the Canadian and United States securities authorities, including without limitation the “Risk Factors” section of the Company’s Management Discussion and Analysis dated January 29, 2025 and Annual Report on 20-F dated July 8, 2024, which are available on SEDAR at www.sedarplus.ca. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking information or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Certain forward-looking statements in this press release may also constitute a “financial outlook” within the meaning of applicable securities laws. A financial outlook involves statements about the Company’s prospective financial performance, financial position or cash flows and is based on and subject to the assumptions about future economic conditions and courses of action and the risk factors in relation to such financial outlook noted in this press release. Such assumptions are based on management’s assessment of the relevant information currently available, and any financial outlook included in this press release is provided for the purpose of helping readers understand the Company’s current expectations and plans for the future. Readers are cautioned that reliance on any financial outlook may not be appropriate for other purposes or in other circumstances and that the risk factors described above, or any other factors may cause actual results to differ materially from any financial outlook. The actual results of the Company’s operations will likely vary from the amounts set forth in any financial outlook and such variances may be material.

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

About First Phosphate Corp.

Sekisui Specialty Chemicals Achieves ISCC PLUS Certification, Advancing Sustainability in Polymer Production

DALLAS, Feb. 27, 2025 /PRNewswire/ — Sekisui Specialty Chemicals is proud to announce that it has earned the International Sustainability and Carbon Certification (ISCC PLUS) for a broad suite of its Selvol™ Polyvinyl Alcohol (PVOH) homopolymers. This significant milestone underscores Sekisui’s commitment to environmental stewardship and sustainable manufacturing practices, ensuring the global availability of more sustainable solutions for its customers.

Sekisui Chemical Group
Sekisui Chemical Group

The ISCC PLUS certification is a globally recognized standard for sustainable and traceable supply chains, focusing on bio-based, recycled, and renewable materials and the path to a circular economy. Selvol PVOH has been certified using a mass-balance approach, ensuring that Selvol PVOH as well as all upstream products and processes are ISCC compliant. Achieving this certification is another step forward for Sekisui’s rigorous Environmental, Social, and Governance (ESG) initiatives while demonstrating the company’s commitment to meeting the growing demand for sustainable materials in diverse industries.

ISCC PLUS certified Selvol products are now available globally, adding an environmentally-friendly option to its high-performing product line. By integrating renewable and bio-based resources into its production processes, Sekisui is offering its customers a viable alternative for reducing their carbon footprint and contributing to the global circular economy. 

Visit Sekisui Specialty Chemicals’ sustainability site to see other recent activity related to carbon footprint reduction and efficiency. To view Sekisui Specialty Chemicals’ official certificate, visit the ISCC PLUS website. Please reach out to your customer service representative for information on availability and pricing.

Sekisui Specialty Chemicals’ primary product is Selvol, a line of high-performance polyvinyl alcohol polymers and copolymers used in paper, adhesive, packaging, construction, personal care, and many other specialty formulations. The company also represents Advancell expandable microspheres, and S-LEC BK polyvinyl acetal resins. Sekisui Specialty Chemicals is a subsidiary of the Sekisui Chemical Group, a multibillion dollar, global company that delivers a wide range of products and services to enrich people’s lives. The company is comprised of core businesses and technologies in housing, social infrastructure, and chemical solutions. For more information, visit www.sekisui-sc.com/.

Nezha Craze Sweeps the City Wai Yuen Tong Proudly Sponsors Broadcast of “Nezha: The Demon Child Comes into the World” on Jade Channel

HONG KONG, Feb. 27, 2025 /PRNewswire/ — Hong Kong’s traditional Chinese medicine pioneer Wai Yuen Tong (0897.HK) announced its proud sponsorship of the TVB Jade Channel’s broadcast of the film ” Nezha:  The Demon Child Comes into the World ” (Nezha 1) on February 28 at 8 PM. This film will provide viewers with an opportunity to revisit the classic and immerse themselves in the current Nezha craze. With the unprecedented success of “Nezha: The Demon Boy Havoc in the Sea” (Nezha 2), which became the first film in mainland cinema history to surpass 10 billion in box office revenue, revisiting “Nezha 1” will allow the audience to gain a deeper understanding of this legendary character and prepare for the upcoming sequel. Wai Yuen Tong hopes to use this sponsorship to convey the wisdom and values of Chinese culture to the younger generation, aligning with its commitment to uphold traditional values.

Strategic Alignment of Sponsorship and Cultural Mission

Wai Yuen Tong has always adhered to its mission of promoting Chinese culture and traditional medicine. Through this sponsorship, we look forward to allowing the audience to gain a deeper understanding of Wai Yuen Tong’s brand philosophy while imparting the profound cultural essence of traditional Chinese medicine to the younger generation. As a brand with a century-long heritage in Hong Kong, Wai Yuen Tong sincerely promotes the wisdom of traditional medicine, carefully understanding the health needs of modern individuals, and providing comprehensive and high-quality traditional Chinese medicine products and services, striving to create a new realm of Chinese health care. At the same time, Wai Yuen Tong continuously seeks progress, developing a diverse range of medicinal products to promote the profound essence of traditional Chinese medicine worldwide, in line with the brand’s founding purpose.

Last year, Wai Yuen Tong established the “Guangdong-Hong Kong International Cooperation Base for Traditional Chinese Medicine” with Guangzhou University of Chinese Medicine. This base focuses on cooperation in talent cultivation, medical services, and technological innovation, aiming to further promote the development of traditional Chinese medicine and enhance Wai Yuen Tong’s influence on the international stage.

A Century of Heritage: Wai Yuen Tong’s Journey of Integrity and Innovation

Wai Yuen Tong has a long-standing reputation built over 128 years. The brand continuously pursues excellence in both Chinese and Western medicinal products and traditional Chinese medicine clinic services. It steadfastly adheres to the spirit of “dedicated to preserving health,” achieving outstanding sales results for multiple products, including Wai Yuen Tong “Angong Niuhuang Wan (安宮牛黃丸)”, “Young Yum Pill (養陰丸)”, “Hou Tsao Powder (猴棗除痰散)” and Madame Pearl’s Cough Syrup, all of which have received external recognition for many consecutive years.

In addition to maintaining product quality, Wai Yuen Tong also keeps pace with the times, addressing public health issues. The company operates over 80 outlets in Hong Kong with registered Chinese medicine practitioners, dedicated to safeguarding public health and providing comprehensive traditional Chinese medicine services and support to every client. We believe that through these efforts, we can better serve society and promote the wisdom and culture of traditional Chinese medicine.

Commitment to Quality as Hong Kong’s No. 1 Traditional Chinese Medicine Brand

Wai Yuen Tong has invested nearly HKD 600 million in an advanced and modern factory in Yuen Long Industrial Estate that meets the standards of Good Manufacturing Practice (GMP). This factory adheres to the stringent pharmaceutical standards recognized globally, specifically those of the Pharmaceutical Inspection Co-operation Scheme (PIC/S), ensuring efficient and safe operations. Wai Yuen Tong maintains strict control over product quality, emphasizing functionality, safety, and user convenience, and is committed to promoting the essence of traditional Chinese medicine worldwide. As Hong Kong’s No. 1 traditional Chinese medicine brand^, Wai Yuen Tong will continuously strive to provide exceptional traditional Chinese medicine products and services to customers around the globe.

^ According to a survey conducted by Ipsos in March to April 2023 involving 502 users of traditional Chinese health products in Hong Kong. (Copyright belongs to Ipsos Hong Kong Limited)

About Wai Yuen Tong Medicine Holdings Limited

Wai Yuen Tong Medicine Holdings Limited is listed on the Hong Kong Stock Exchange (stock code: 0897) and primarily engages in the research, processing, and retail of medicines and health products, including five major product lines of traditional Chinese medicine sold under the “Wai Yuen Tong” brand ((proprietary Chinese medicines, dietary supplement, homology of medicine and food, decoction and concentrated granule, and lifestyle products as well as Western medicine, health, and personal care products sold under the”Madame Pearl’s” and “Pearl’s” brands. The company also provides one-stop traditional Chinese medicine healthcare services. For more information about Wai Yuen Tong, please visit https://www.wyth.net.

Canadian Solar Schedules Fourth Quarter and Full Year 2024 Earnings Conference Call for March 25

KITCHENER, ON, Feb. 27, 2025 /PRNewswire/ — Canadian Solar Inc. (“the Company”, “Canadian Solar”) (NASDAQ: CSIQ) today announced that it will hold a conference call on Tuesday, March 25, 2025, at 8:00 a.m. U.S. Eastern Time (8:00 p.m., March 25, 2025, in Hong Kong) to discuss the Company’s fourth quarter and full year 2024 results and business outlook.

The dial-in phone number for the live audio call is +1-877-704-4453 (toll-free from the U.S.), 800 965 561 (from Hong Kong), +86 400 120 2840 (local dial-in from Mainland China) or +1-201-389-0920 from international locations. The conference ID is 13752023. A live webcast of the conference call will also be available on the investor relations section of Canadian Solar’s website at www.canadiansolar.com.

A replay of the call will be available after the conclusion of the call until 11:00 p.m. U.S. Eastern Time on Tuesday, April 8, 2025 (11:00 a.m. April 9, 2025, in Hong Kong) and can be accessed by dialing +1-844-512-2921 (toll-free from the U.S.) or +1-412-317-6671 from international locations.  The replay pin number is 13752023. A webcast replay will also be available on the investor relations section of Canadian Solar’s at www.canadiansolar.com.

About Canadian Solar Inc.

Canadian Solar is one of the world’s largest solar technology and renewable energy companies. Founded in 2001 and headquartered in Kitchener, Ontario, the Company is a leading manufacturer of solar photovoltaic modules; provider of solar energy and battery energy storage solutions; and developer, owner, and operator of utility-scale solar power and battery energy storage projects. Over the past 23 years, Canadian Solar has successfully delivered around 142 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar has shipped over 8 GWh of battery energy storage solutions to global markets as of September 30, 2024, boasting a US$3.2 billion contracted backlog as of November 30, 2024. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 11 GWp of solar power projects and 3.7 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 26 GWp of solar and 66 GWh of battery energy storage capacity in various stages of development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

CANADIAN SOLAR INC. INVESTOR RELATIONS CONTACT

Wina Huang
Investor Relations
Canadian Solar Inc.
investor@canadiansolar.com

Whatfix Unveils ScreenSense: An AI Technology to Shape the Next Frontier of Digital Adoption

As the leading pure-play Digital Adoption Platform (DAP), the company marks significant growth in 2024

SAN JOSE, Calif., and BANGALORE, India, Feb. 27, 2025 /PRNewswire/ — Whatfix, the global leader in Digital Adoption Platforms (DAP), today introduced ScreenSense, an innovative AI technology that powers the next generations of its product suite—DAP, Mirror, and Product Analytics. Built on a Computer Use model trained to understand and interact with graphical user interfaces (GUIs) like humans, ScreenSense applies enterprise business knowledge to enhance digital workflows, making tasks more efficient and intuitive.

Whatfix
Whatfix

ScreenSense leverages patented algorithms to create next-gen digital experiences that are more intuitive to the end-user and also evolve with technology changes. Its capabilities include advanced element and context detection, precise segmentation, behavioral intelligence, and inference generation.

“At the heart of the userization approach is ScreenSense, a next-generation suite of patented technologies, that fuels Whatfix’s products to empower organizations in accelerating digital adoption, enhancing user experiences, and delivering maximum ROI from their transformation efforts,” says Sharath Hari N, Vice President at Everest Group.

“ScreenSense is the core of our AI-driven digital adoption strategy. It leverages our patented innovations to simplify enterprise technology adoption,” said Khadim Batti, CEO and Co-Founder of Whatfix. “As AI reshapes how users and enterprises interact with software, ScreenSense is enabling Whatfix to ensure digital adoption is more intuitive, scalable, and impactful in helping businesses drive productivity and ROI from their technology investments.”

Gina Smith, Ph.D., Research Director at IDC, said, “The integration of agentic AI amplifies DAP capabilities… When thoughtfully administered, DAPs can accelerate AI adoption and ensure organizations can achieve (the) full value of their software investments.”

2024 Highlights of Whatfix’s Achievements:

A Year of Milestones and Growth
2024 was marked by significant milestones that underscore the unmatched innovation at Whatfix and the trust of its customers.

  • 38% YoY revenue growth, with a 150% EBITDA improvement since 2022, reflecting strong market demand and financial discipline.
  • 12 new Fortune 500 customers spanning industries such as BFSI, Manufacturing, Retail, and Technology.
  • 111% Net Revenue Retention (NRR) for enterprises, demonstrating deeper integration and customer trust.

As noted by Morten Rye Christensen, Vice President, Infrastructure & Operations, Semler Gruppen, “Whatfix has been instrumental in improving user adoption, engagement, and productivity across our platforms. Their AI-driven solutions and user-centric design have created a seamless experience for our users. Our collaboration with Whatfix is making digital tools accessible and intuitive for everyone – We’re transforming how our teams and customers interact with technology. Rather than wrestling with complex systems, we’re prioritizing empowerment and adoption, enabling faster, smoother processes where anyone can jump in, learn, and get more done effortlessly.”

He added, “The new AI capabilities offer smart, context-sensitive support, further simplifying workflows and making digital experiences even more engaging. We believe that when technology is as simple and intuitive as it is powerful, everyone wins—and that’s exactly what our partnership with Whatfix is delivering. Whatfix’s innovative approach and commitment to user experience have made them an invaluable partner for us.”

Driving Innovation & Expanding Leadership

In 2024, Whatfix expanded its capabilities. It introduced new AI-powered features, DAP on OS, and Mobile SDK 2.0, further elevating business impact and efficiency.

  • New Whatfix AI Capabilities: Whatfix introduced new AI-driven features across DAP, Mirror, and Product Analytics. “Ask Whatfix AI” – a GenAI-powered conversational analytics interface enables business users and citizen analysts to access engagement and usage insights using a simple chat interface. AI-powered sentiment analysis provides users with quicker and more actionable insights from user feedback surveys – an existing DAP feature.
  • Whatfix for AI-Adoption: Whatfix is investing heavily in capabilities to enable its customers to improve their AI adoption. It empowers customers to drive AI co-pilot awareness and educate users about AI co-pilot adoption best practices within enterprises. By enabling IT stakeholders to track co-pilot usage, identify adoption challenges, and optimize AI implementation and rollout plans, it ensures that enterprises can accelerate the ROI of their AI investments.
  • DAP on OS: Launched as a desktop companion, DAP on OS streamlines employee communication with desktop alerts, simplifies learning across applications, and ensures quick access to information for seamless productivity in enterprises.
  • Mirror: In 2024, Mirror gained strong market traction as many of Whatfix’s existing and new customers—including several Fortune 500s across BFSI, Manufacturing, Retail, and Technology—chose it as their preferred application simulation environment.
  • Product Analytics: Whatfix was recognized as a Representative Vendor by Gartner for Product Analytics. As a top choice for enterprise analytics, 25% of its new customers were Global 2000 companies. New capabilities added by the product include the Adoption Health Dashboard, which enables CIOs and Digital Transformation teams to gain a comprehensive view of their tech stack’s adoption and usage.
  • DAP on Mobile: With the launch of Mobile SDK 2.0, Whatfix DAP Mobile empowers customers to resolve issues faster and deliver exceptional in-app experiences while reducing reliance on development teams for minor updates. Whatfix also gained its 6th patent for “Inspect Element Framework For Building Mobile DAP Content” from the US Patent Office.

Solidifying Category Leadership in Digital Adoption
In 2024, Whatfix cemented its category leadership with top industry accolades for AI-driven innovation, enterprise impact, and sustainability:

  • ISG Paragon Awards: Innovation Award winner with Sophos.
  • Gartner’s Voice of the Customer: The only Customer’s Choice vendor in DAP.
  • Forrester Wave (Q4 2024): Leader in AI/ML, analytics, and product architecture, earning the highest Strategy score.
  • IDC MarketScape: Worldwide DAP 2024: Leader, recognized for mobile, desktop adoption, AI innovation, and personalization.
  • Everest Group: Leader & Star Performer for the fifth consecutive year.
  • Deloitte Fast 500: Top-ranked DAP for four years running.
  • EcoVadis: Bronze Medal, placing in the top 35% globally for sustainability.

Whatfix also received the 2025 G2 Best Software Awards as the Best Software Companies in India last week and was yet again recognized as a leader in Gartner’s Voice of the Customer in 2025 for DAP.

Whatfix continues to define the future of digital adoption, setting the industry benchmark for AI-powered transformation. The company is building a strong DAP community with its Whatfix University, which certified 5,500+ professionals as yet, upskilling the leaders of tomorrow.

Expanding Partnerships & Industry Reach
Whatfix strengthened its global ecosystem by adding 11 new partners, including Temenos, Deloitte (India), Capgemini, and Indra Consulting Philippines, expanding its network to 125+ partners across key industries. Strategic collaborations with GSIs like Deloitte, Wipro, and LTIMindtree, along with regional partners such as BIP, Genpact, and NNIT, further reinforced its position as a trusted enterprise partner.

Whatfix Accelerates Global Expansion, Industry Focus, and GenAI Integration in 2025

Backed by $125M in Series E funding, Whatfix is strengthening its leadership in North America, Europe, and APAC while expanding into high-growth markets in the Middle East and Southeast Asia. The company is deepening its presence in Insurance, Pharma & Life Sciences, and Banking and Financial Services alongside a strategic push into the Public sector. With a focus on market expansion and profitability, Whatfix is driving organic growth and strategic acquisitions while advancing ‘userization’ with GenAI-powered innovations to enhance user experiences and boost productivity.

About Whatfix
Whatfix is advancing the “userization” of application technology, by empowering companies to maximize the ROI of digital investments across the application lifecycle. Powered by GenAI, Whatfix’s product suite includes a digital adoption platform, simulated application environments for hands-on training, and no-code application analytics.  Whatfix enables organizations to drive user productivity, ensure process compliance, and improve user experience of internal and customer-facing applications. With seven offices across the US, India, UK, Germany, Singapore, and Australia, Whatfix supports 700+ enterprises, including 80+ Fortune 500s like Shell, Microsoft, Schneider Electric, and UPS Supply Chain Solutions. Backed by investors such as Warburg Pincus, Softbank Vision Fund 2, Dragoneer, Peak XV Partners, Eight Roads, and Cisco Investments, software clicks with Whatfix. For more information, visit the Whatfix website.

Media Contact
Danielle Scotto
whatfix@luminapr.com 

Infinix Unveils ZERO Series Mini Tri-Fold: A Game-Changing Foldable Concept

The First-of-Its-Kind Mini Tri-Fold That Transforms From a Smartphone to a Hands-Free Display and a Compact Camera

HONG KONG, Feb. 27, 2025 /PRNewswire/ — Infinix, a trendy tech brand crafted for young consumers, is redefining the future of foldables with its latest innovation. The ZERO Series Mini Tri-Fold Concept Device seamlessly transforms between a smartphone, a hands-free fitness and entertainment companion, and a compact camera, unlocking new possibilities for mobility, creativity, and functionality. Designed with a triple-folding mechanism and dual hinges that folds and unfolds vertically into itself, this concept brings a fresh perspective on how smart devices integrate into modern lifestyles.

Infinix's ZERO Series Mini Tri-Fold Concept Foldable Device
Infinix’s ZERO Series Mini Tri-Fold Concept Foldable Device

Multi-Forms For Multi-Scenarios
Multi-Forms For Multi-Scenarios

Multiforms for Multiscenarios

This is not just another foldable; it is a bold reimagination of how technology enhances everyday life, evolving seamlessly between different forms. Whether mounted on gym equipments for workout tracking, clipped onto a backpack for action shots, or unfolded into a sleek, pocket-friendly smartphone, the ZERO Series Mini Tri-Fold delivers unmatched versatility.

  • Beyond Traditional Foldables

Unlike conventional foldables that simply expand into a larger screen, this next-generation device shifts effortlessly between multiple modes. It stands upright for hands-free calls, entertainment, and quick access on the go. With its innovative strap accessory, it can be securely attached to gym equipments, bicycle handlebars, or even a car dashboard, allowing users to track workouts, follow guided exercise routines, or navigate routes—all while keeping their hands free. When mounted on a bag strap or placed on a surface, it transforms into a compact camera, capturing dynamic moments from the perfect angle.

  • Outward Folding & Cameras

The outward-folding design unlocks even more possibilities. It creates an intuitive, dual-screen experience that makes real-time multilingual conversations effortless, allowing both users to view translated content side by side. This same design also turns the device into a high-performance camera system, using the main camera to capture stunning photos and videos while doubling as a premium selfie tool with an immersive screen for perfect framing.

Compact, Stylish and Ready for Daily Use

For Hiking
For Hiking

For Mountain Biking
For Mountain Biking

Folded into its most compact form, the ZERO Series Mini Tri-Fold becomes a stylish, everyday smartphone with a comfortable grip and sleek finish. It is lightweight, intuitive, and built for single-handed use—blurring the lines between a smartphone and an all-in-one tech companion.

As the demand for foldable technology evolves, young consumers are seeking more than just larger screens; they want devices that seamlessly integrate into their lifestyles, replacing multiple gadgets with a single, adaptable solution. Infinix continues to challenge expectations by combining cutting-edge engineering with stylish, user-centric design. The ZERO Series Mini Tri-Fold offers a visionary glimpse into the future—where innovation, practicality, and aesthetics come together in one groundbreaking device.

This is more than a glimpse into what is next. It is a testament to Infinix’s commitment to redefining the mobile experience and empowering users to explore new possibilities with every fold.

For more information, please visit: www.infinixmobility.com.

For access to the images, kindly click HERE.

About Infinix:

Established in 2013, Infinix is a cutting-edge technology brand tailored for the youth. Committed to delivering cutting-edge technology, stylish design, and outstanding performance, Infinix strives to provide consumers with a superior mobile intelligent experience. In addition to smartphones, Infinix has expanded its product range to include TWS earbuds, smartwatches, laptops, Tablets, smart TVs and more. Currently, Infinix products are available in over 70 countries and regions worldwide, spanning Africa, Latin America, the Middle East, South Asia, and Southeast Asia. For more information, please visit: http://www.infinixmobility.com/

Budget to maintain Hong Kong’s competitiveness amid fiscal consolidation


HONG KONG SAR – Media OutReach Newswire – 27 February 2025 – Hong Kong SAR’s Financial Secretary Paul Chan delivered his 2025-26 Budget yesterday (February 26), with clear path and initiatives to rein in the deficit, while accelerating the city’s development and maintaining its competitive edge of a low and simple tax regime.

“The key is managing expenditure growth, making good use of the Government’s fiscal resources, and identifying new revenue resources,” Mr Chan said.

Hong Kong SAR’s Financial Secretary, Paul Chan (second left), at a press conference on the 2025-26 Budget
Hong Kong SAR’s Financial Secretary, Paul Chan (second left), at a press conference on the 2025-26 Budget

He forecast a consolidated deficit of $87.2 billion for 2024/25 with the Operating Account returning to surplus within two years.

The deficit, Mr Chan said, was largely due to the impact of counter-cyclical measures launched in response to the COVID-19 pandemic as well as challenges such as the geopolitical landscape and related disruptions to trade, supply chain, cash flow and sentiment in the investment market.

Under a proposed “reinforced version” of the fiscal consolidation programme, Mr Chan announced a range of measures, including a cumulative reduction of 7% in government expenditure by 2027-28, compared to the level in 2024-25.

The Government has also put forward that the executive authorities, the legislature, the judiciary and members of the District Councils take a pay freeze for 2025-26. That includes, among others, the Chief Executive and all politically appointed officials, and all civil servants.

The civil service establishment will be reduced by 2% each in 2026-27 and 2027-28, with about 10,000 posts expected to be deleted within the next two years.

“The Government has all along endeavoured to deliver more efficient public services to citizens through leveraging technology, streamlining processes and driving the digital transformation of public services,” Mr Chan said.

The Budget proposes a reinforced version of fiscal consolidation programme to restore fiscal balance in the Operating Account within the current term of Government
The Budget proposes a reinforced version of fiscal consolidation programme to restore fiscal balance in the Operating Account within the current term of Government

Meanwhile, the conditions of the two public transport fare subsidy schemes will be adjusted, with expected saving of $6.2 billion in the next five years.

Alongside controls on government expenditure, the Financial Secretary proposed a raft of measures to boost revenue, notably by adjusting some government fees and charges under the “user pays” and “affordable users pay” principle.

These include, for example, reviewing government fees and charges for road users in relation to some tunnel tolls, trunk roads, licences and parking charges, and increasing the rate of air passenger departure tax from $120 to $200 per passenger starting from October 2025.

The Financial Secretary noted that issuing bonds to support infrastructure development is a common practice worldwide.

To take forward major infrastructure projects, particularly the Northern Metropolis development, Mr Chan said “Hong Kong has the prerequisite and capability to suitably increase bond issuance, thereby effectively utilising market resources.”

“With the increase in capital works expenditure, I will expand the scale of bond issuance accordingly. It is expected that during the five-year period from 2025-26 to 2029-30, a total of about $150 billion to $195 billion worth of bonds will be issued under the Government Sustainable Bond Programme and the Infrastructure Bond Programme every year.” He remarked that bonds will not be issued to fund government recurrent expenditure; instead, they will be used to invest in infrastructure only.

The ratio of Hong Kong SAR Government debt to GDP will stay at 12 to 16.5 per cent, which is a prudent and manageable level, and is much lower than most of the advanced economies, Mr Chan emphasised.

Hashtag: #hongkong #brandhongkong #asiasworldcity #budget





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

Expanding Global Partnerships: CIIE Promotional Events in Australia, New Zealand, and Malaysia

SHANGHAI, Feb. 27, 2025 /PRNewswire/ — To strategically deepen the cross-border collaborative ties with global enterprises and encourage broader participation, the CIIE promotional team embarked on an influential global promotion to Australia, New Zealand, and Malaysia from February 16 to 24. This promotional itinerary was designed to advance the recruitment process for the 8th CIIE, scheduled for November 2025 in Shanghai. The initiative sought to highlight the CIIE’s role as a premier platform, enabling multinational corporations to tap into China’s expansive consumer market and to capitalize on its robust supply chain ecosystem.

Premium Platform for Cooperation Opportunities

Australia and New Zealand, both longstanding partners in China’s agricultural and resource sectors, boast strong economic complementarity and hold significant potential for future cooperation. At the 7th CIIE, Australia participated with more than 250 companies, marking the highest attendance in its history. Various Australian products, including meat, seafood, wine, dairy products, health supplements, agricultural products, and consumer goods were well-received by the Chinese market. Meanwhile, New Zealand, represented by industry giants like Theland, have long benefited from the trade connections fostered by the CIIE. Theland, a leading dairy company from New Zealand, has gained significant popularity among Chinese consumers. At each edition of the CIIE, Theland introduces global debut products, leveraging the CIIE as a testing ground and a springboard for expansion.

A Bridge for Enhanced Partnership

In celebration of the 50th anniversary of diplomatic relations between Malaysia and China, the CIIE further solidifies the friendly cooperative ties between the two countries, a relationship highlighted by Malaysia’s status as one of the guest countries of honor at the 7th CIIE. Through its active participation, Malaysia showcased its diverse range of high-quality products and services, including electrical and electronics, agricultural goods, healthcare products, and innovative services such as ICT, e-commerce, and logistics. This engagement underscored Malaysia’s strategic importance as a key partner in China’s global trade network.

Following the tremendous success of the 7th CIIE, preparations for the 8th CIIE are well underway, focused on continuing to create valuable cooperation opportunities for global enterprises. The CIIE remains an unparalleled platform for companies to explore market opportunities and strengthen cross-border trade relations.

Join the 8th CIIE to unlock new opportunities in the Chinese market. Visit the official CIIE website for more information: https://www.ciie.org/zbh/en/?from=prnewswire

Contact: Ms. Cui Yan Tel.: 0086-21-968888 Email: exhibition@ciie.org