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

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

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

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

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

Company Contact:

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

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

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

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

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

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

First Half of Fiscal Year 2025 Financial Highlights

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

First Half of Fiscal Year 2025 Financial Results

Revenues

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

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

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

Cost of Revenues

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

Gross Profit and Gross Profit Margin

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

Total Operating Expenses

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

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

Net Income

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

Basic and Diluted Earnings per Share

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

Financial Condition

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

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

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

Recent Development

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

About 3 E Network Technology Group Limited

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

Forward-Looking Statements

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

For investor and media inquiries, please contact:

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

 

 

3 E NETWORK TECHNOLOGY GROUP LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

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

As of
December 31,
2024

As of
June 30,
2024

Assets

Current assets:

Cash and cash equivalents

$

71,590

$

51,809

Accounts receivable, net

2,683,251

2,098,227

Deposits, prepayments and other current assets

424,689

41,461

Due from related parties – current

5,936

32,013

Total current assets

3,185,466

2,223,510

Property and equipment, net

8,675

11,216

Deferred IPO costs

2,132,303

1,520,975

Deferred tax assets, net

39,872

104,857

Total assets

5,366,316

3,860,558

Liabilities and equity

Current liabilities:

Accounts payable

$

800,000

$

206,407

Advance from customers

1,612

1,009

Accrued expenses and other liabilities

237,846

295,504

Due to related party – current

63,000

Tax payable

384,690

218,918

Total current liabilities

1,487,148

721,838

Due to a related party – non-current

85,567

402,202

Total Liabilities

1,572,715

1,124,040

Commitments and contingencies

Shareholders’ equity:

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

1,000

1,000

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

Statutory reserve

94,374

64,474

Retained earnings

3,878,142

2,838,715

Accumulated other comprehensive loss

(179,915)

(167,671)

Total shareholders’ equity

3,793,601

2,736,518

Total Liabilities and shareholders’ equity

$

5,366,316

$

3,860,558

 

 

3 E NETWORK TECHNOLOGY GROUP LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE
INCOME

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

For the six months ended
December 31

2024

2023

Revenues

Software development services

$

3,128,203

$

2,971,671

Exhibition and conference services

Hardware sales

210

Others

230

Total revenues

3,128,203

2,972,111

Cost of revenues

Software development services

1,528,919

1,891,256

Exhibition and conference services

Hardware sales

57

Others

Taxes and other surcharges

5,623

13,488

Total cost of revenues

1,534,542

1,904,801

Gross profit

1,593,661

1,067,310

Operating expenses

Sales and marketing expenses

2,085

General and administrative expenses

199,513

129,772

Research and development expenses

149,785

119,437

Exchange (gain)/loss

(21,150)

25,237

Total operating expenses

328,148

276,531

Income from operations

1,265,513

790,779

Other income, net

1,582

10,117

Income before income tax

1,267,095

800,896

Income tax expenses

197,768

116,503

Net income

$

1,069,327

$

684,393

Other comprehensive income

Foreign currency translation (loss)/income

(12,244)

42,311

Total comprehensive income

$

1,057,083

$

726,704

Weighted average number of ordinary shares outstanding:

Class A Ordinary Shares – Basic and diluted*

10,000,000

10,000,000

Class B Ordinary Shares – Basic and diluted*

Earnings per ordinary share

Class A Ordinary Shares – Basic and diluted*

$

0.11

$

0.07

Class B Ordinary Shares – Basic and diluted*

$

$

 

 

Moatable Reports 2024 Annual Financial Results

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

Fourth Quarter 2024 and 2024 Annual Financial Highlights

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

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

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

About Moatable Inc.

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

Forward-Looking Statements

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

Non-GAAP Financial Information

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

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

 

 

MOATABLE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

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

(In thousands of US dollars)

For the three months ended December 31,

For the twelve months ended December 31,

2023

2024

2023

2024

Total revenues

13,765

17,461

52,073

63,459

Total Cost of revenues:

3,055

4,280

11,212

15,149

Gross profit

10,710

13,181

40,861

48,310

Operating expenses

Selling and marketing

5,119

5,398

19,840

19,324

Research and development

4,278

5,309

18,358

19,101

General and administrative

3,396

2,643

12,599

12,638

Impairment of intangible assets

1,895

1,895

207

Total operating expenses

14,688

13,350

52,692

51,270

Loss from operations

$

(3,978)

$

(169)

$

(11,831)

$

(2,960)

 

 

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

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

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

For the three months ended December 31,

For the twelve months ended December 31,

2023

2024

2023

2024

Loss from operations

$

(3,978)

$

(169)

$

(11,831)

$

(2,960)

Plus (minus)

Share-based compensation expense

702

127

2,967

1,726

Depreciation and amortization expenses

357

381

930

1,019

Impairment of intangibles

1,895

1,895

207

Correction of prior year error

550

550

(833)

Provision for insurance reimbursements

1,737

Arbitration fees

705

705

847

Adjusted EBITDA

231

339

(4,784)

1,743

 

 

Terumo Blood and Cell Technologies Names Patrick Daly as Chief Business Officer

Daly, a 30-year veteran of the healthcare industry, is the latest leadership addition to help Terumo BCT unite business areas and fuel enterprise growth

LAKEWOOD, Colo., April 17, 2025 /PRNewswire/ — Terumo Blood and Cell Technologies (Terumo BCT), a medical technology company, today announced the addition of Patrick Daly as its Chief Business Officer as the company continues to expand its capabilities to meet evolving market segments. Daly joins Terumo BCT with over 30 years of business and healthcare industry experience, both domestically and internationally. Most recently, he built the MedTech Global Data franchise at IQVIA, a provider of technology solutions to the life sciences industry.

Daly has spent his career building commercial capabilities to deliver organic and inorganic growth. Before joining IQVIA, he was President and CEO of Cohera Medical, and he remains an independent Board Director for BioStem Technologies. He has held successive senior leadership roles in strategic marketing, sales and business development across various regions and businesses of Johnson & Johnson. He earned his Bachelor of Science in Foreign Area Studies from the U.S. Military Academy at West Point.

“Patrick’s experience acquiring capital and building strategic partnerships complements his experience monetizing data and solutions. This uniquely positions him to integrate our offerings and drive innovation across our business models and go-to-market strategies,” said Antoinette Gawin, President and Chief Executive Officer of Terumo BCT. “His diverse experience will help accelerate our ambitions for double-digit growth.”

“It is a great moment to join Terumo BCT as it continues executing its long-term vision for growth and to meet patients’ unmet needs globally,” said Daly. “I am focused on ensuring our full portfolio, connected with data, software and services, will play a growing role in helping our customers solve healthcare’s toughest challenges, while advancing disease research, therapeutic development and improved access to safe blood worldwide.”

About Terumo Blood and Cell Technologies

Terumo Blood and Cell Technologies is a medical technology company. Our products, software and services enable customers to collect and prepare blood and cells to help treat challenging diseases and conditions. Our employees worldwide believe in the potential of blood and cells to do even more for patients than they do today. This belief inspires our innovation and strengthens our collaboration with customers.

Terumo Blood and Cell Technologies’ customers include blood centers, hospitals, therapeutic apheresis clinics, cell collection and processing organizations, researchers and private medical practices. Our customers are based in over 150 countries across the globe. We have 750+ granted patents, with more than 150 additionally pending.

We have global headquarters in Lakewood, Colorado, U.S.A., along with five regional headquarters, eight manufacturing sites and six innovation and development centers across the globe. Terumo Blood and Cell Technologies is a subsidiary of Terumo Corporation (TSE: 4543), a global leader in medical technology.

 

OMAN CREDIT OUTLOOK STRENGTHENS AS OIA REFORMS DRIVE FINANCIAL RESILIENCE

MUSCAT, Oman, April 17, 2025 /PRNewswire/ — The Sultanate of Oman’s recent credit rating affirmation at BBB- with a positive outlook by Standard & Poor’s (March 2025) reflects the government’s effective fiscal consolidation efforts and improved economic management. A key contributor to this achievement is Oman Investment Authority (OIA), the country’s sovereign wealth fund, which since assuming oversight of state-owned companies under the National Development Fund in 2020, has implemented robust governance reforms and targeted debt reduction strategies. These measures strengthened the financial positions of portfolio companies, directly contributing to Oman’s enhanced credit profile and overall financial resilience.

Oman Investment Authority
Oman Investment Authority

OIA successfully reduced the aggerate debt of its subsidiaries from USD 29.64 billion in 2021 to USD 23.92 billion by the end of Q3 2024. A notable example is OQ Group, Oman’s integrated energy company, which achieved a credit rating upgrade that led to a marked improvement in its net debt-to-profit ratio, enhancing both its financial efficiency and long-term sustainability. In parallel, OIA renegotiated loan terms with banking partners to secure more cost-effective and flexible financing structures, further reinforcing the operational resilience of its portfolio.

OIA also significantly reduced reliance on government guarantees to enhance the financial independence and governance of its key subsidiaries. Guarantees extended to major companies such as OQ Group, Asyad Group, Oman’s logistics provider,  and Nama, Oman’s primary provider of electricity, water and wastewater services, were reduced from USD 8.32 billion in 2021 to USD 4.68 billion by 2024, with no new guarantees issued since. In addition, Duqm Refinery and Petrochemical Industries Company (OQ8) recently passed the Lenders Reliability Test (LRT) enabling it to unlock over USD 2 billion in shareholder guarantees. This decisive shift has lowered fiscal risk for the government and signaled a new era of accountability, encouraging companies to leverage their own financial strength and drive future growth.

OIA has also further strengthened transparency across its portfolio by mandating financial performance disclosure across its portfolio. Simultaneously, strategic partnerships have attracted foreign investment into priority sectors, contributing to stronger foreign currency reserves.

These collective initiatives demonstrate OIA’s commitment to Oman Vision 2040 by reinforcing confidence in the Omani economy and supporting long-term sustainability. They also position the Sultanate of Oman as a trusted and competitive investment destination.

Contact: 
Al Yaqdhan Ali Al Abri
Senior Officer – Strategic Communication
Tel: +968 24745659
alyaqdhan.alabri@oia.gov.om 

ADQ, IHC and Modon form new infrastructure platform ‘Gridora’ to accelerate the development of strategic projects

  • The new entity, ‘Gridora’, will be a joint venture operating under Modon Holding
  • Gridora will collaborate with specialist partners and capital providers to advance the delivery of strategic infrastructure projects nationally, regionally and internationally
  • The platform is strategically positioned to enhance and foster long-term collaboration between the public and private sectors

ABU DHABI, UAE, April 17, 2025 /PRNewswire/ — Leading Abu Dhabi-based global entities ADQ, IHC and Modon Holding have entered into a joint venture to form a dedicated infrastructure platform that will actively drive infrastructure development for private and public-private partnerships. Operating under Modon Holding, Gridora will serve as a strategic platform for collaboration with specialist partners and capital providers, enabling the delivery of large-scale, high-impact infrastructure projects.

Bridge to Hudayriyat Island
Bridge to Hudayriyat Island

Leveraging Modon Holding’s national, regional and international infrastructure and real estate development expertise, the new entity will accelerate the delivery of major projects across the UAE and globally. It will enhance capacity for deployment, streamlining the procurement and implementation of key infrastructure contracts.

Gridora will be structured around two complementary business lines, Infrastructure Projects and Infrastructure Investments, which reflect the project origination and asset management capabilities of its founding partners. This dual-focus model is designed to generate returns, while addressing the transformative shift required to scale infrastructure implementation nationally, regionally and internationally.

By assuming a leadership role in critical delivery processes, Gridora will create value throughout the infrastructure lifecycle – from early-stage planning through to operations – unlocking new opportunities for both fee-based revenues and long-term investment yields. With the combined strength of its three founding partners, Gridora is strategically positioned to foster long-term collaboration between the public and private sectors.

Commenting on the partnership, His Excellency Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Modon Holding, said: “Abu Dhabi’s thriving economy and growing population demand world-class infrastructure. By leveraging the collective expertise and resources of ADQ, IHC and Modon Holding, Gridora will become a local, regional, and international champion for infrastructure development and drive a step change in delivering strategic projects.” 

His Excellency Mohamed Hassan Alsuwaidi, Managing Director and Group Chief Executive Officer of ADQ, said: As a long-term investor with deep exposure across infrastructure investments, the establishment of Gridora exemplifies our commitment to design and enable transformative development for projects of strategic importance. Our partnership with world class institutions, such as Modon and IHC, aims to unlock further value through this platform, and it is a reflection of our growing confidence to drive innovation and efficiency built for long term impact for the emirate and beyond.”

Syed Basar Shueb, Chief Executive Officer of IHC, added: “Gridora reflects IHC’s continued focus on building future-ready platforms that combine innovation, scale, and strategic collaboration. As a long-term investor, we see strong potential in harnessing infrastructure investments to unlock new economic value, deepen private sector participation, and drive infrastructure-led growth across markets. With Modon as part of the IHC Group, this joint venture reinforces our strategy of empowering our dynamic value networks to lead in sectors that are vital to national and regional development.”

Bill O’Regan, Group Chief Executive Officer of Modon Holding, said: “The joint venture reinforces Modon’s mission to create smart cities defined by intelligent and connected living. It provides a targeted solution to meet infrastructure requirements, significantly accelerating the delivery of critical projects while broadening the field of specialist private sector delivery partners. Gridora will harness Modon Holding’s pioneering capabilities to channel expertise and capital into key projects and builds on Abu Dhabi’s proven framework for development of transformative infrastructure. Alongside expediting the delivery of state-of-the-art infrastructure, it will also open new revenue streams and attractive long-term opportunities for Modon Holding and our partners.”.

About ADQ:

Established in 2018, ADQ is an active sovereign investor with a focus on critical infrastructure and global supply chains. As a strategic partner to the Government of Abu Dhabi, ADQ invests in the growth of business platforms anchored in the Emirate that deliver value to local communities and long-term financial returns to its shareholder. ADQ’s total assets amounted to USD 225 billion as of 30 June 2024. Its rapidly expanding portfolio encompasses companies across numerous core sectors of the economy, including energy and utilities, transport and logistics, food and agriculture, and healthcare and life sciences.

For more information, visit adq.ae or write to media@adq.ae.

You can also follow ADQ on Instagram, LinkedIn and X

About IHC:

Established in 1999, IHC has become the most valuable holding company in the Middle East and one of world’s largest investment firms, with a market capitalization of AED 876.5 billion (USD 238.5 billion). Since then, it has transformed to represent a new generation of investors. IHC’s commitment to sustainability, innovation, and economic diversification spans over 1,200 subsidiaries, driving growth across industries like Asset Management, Healthcare, Real Estate, Financial Services, IT, and more.

IHC continually looks beyond the stand-alone value of its assets for opportunities, stepping outside of traditional approaches and artificial barriers to unlock opportunities across its portfolio, enabling sector-agnostic Dynamic Value Networks and creating results that are often much greater than the sum of their parts.

At IHC, we take our responsibility to shareholders, customers, and employees seriously. Our commitment to responsible investment ensures that we create sustainable value by staying connected to the communities we serve, making a positive difference with every investment.

www.ihcuae.com

About Modon:

Modon is an international holding company, headquartered in Abu Dhabi, United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX). We are at the forefront of urban innovation, creating iconic designs and experiences that continually surpass expectations. Our primary business sectors include real estate, hospitality, asset management, investments, events, and tourism. Our goal is to deliver long-term, sustainable value, laying the foundations for intelligent, connected living.

For further information, please contact:
press@modon.com
ir@modon.com
www.modon.com 

 

 

 

 

Terumo Health Outcomes Now Offers FDA-Cleared Medis QFR® 3.0 Software for Coronary Physiology Assessment in the US

 – Innovative AI software supports hospital adoption of advanced tools to improve cath lab workflow and patient comfort –

SOMERSET, N.J., April 17, 2025 /PRNewswire/ — Terumo Health Outcomes (THO), a division of Terumo Interventional Systems (TIS), today announced that Medis QFR 3.0, an FDA-cleared software solution for coronary physiology assessment, is now available in the United States through its collaboration with Medis Medical Imaging. This milestone builds on the companies’ December 2023 partnership announcement.

“Helping hospitals access proven, innovative tools like QFR 3.0 is an important part of our mission,” said Ryan Graver, Senior Divisional Vice President, THO. “This latest advancement from Medis aligns with the goals of many hospitals to enhance cath lab efficiency and support high-quality, patient-centered care. We are proud to be able to offer this cardiology diagnostic software solution to our customers.”

THO and Medis will showcase QFR 3.0 during the upcoming SCAI 2025 Scientific Sessions, offering clinicians the opportunity to learn more about the technology and its role in supporting efficient, physiology-guided care in the cath lab.

Medis QFR has been validated through extensive clinical research, including over 200 peer-reviewed publications and data from more than 17,000 patients and 20,000 lesions. In 2024, QFR was recommended by the European Society of Cardiology in their ESC Guidelines, reinforcing its clinical relevance and utility.

“We’re excited that U.S. hospitals will now have access to QFR 3.0,” said Dr. Maya Barley, CEO of Medis Medical Imaging. “Our continued collaboration with Terumo Health Outcomes supports our goal of delivering solutions that simplify workflow while maintaining a strong foundation of clinical accuracy.”

“This partnership reflects our shared commitment to expand hospital access to innovative cardiovascular technologies,” said Ghada Farah, President of Terumo Interventional Systems.

THO is a division of TIS, which offers a portfolio of high-quality interventional devices that complement the predictive insights offered by THO’s ePRISM platform. While ePRISM assists clinicians in identifying patient risk and optimizing treatment strategies, the advanced tools from TIS support procedural efficiency, contributing to improved patient outcomes. This combination assists clinicians to make more informed decisions, facilitating smoother procedures and potentially reducing hospital costs and recovery times.

About Terumo Health Outcomes
Terumo Health Outcomes (THO) delivers advanced digital health solutions that empower clinicians with predictive insights to optimize patient care and hospital efficiency. The ePRISM platform helps provides personalized patient care, which is provided to the clinician on a screen in real-time as a decision support tool, enabling hospitals to implement data-driven care strategies that enhance patient outcomes and streamline operational performance. Learn more at www.terumohealthoutcomes.com.

About Terumo
Terumo (TSE:4543) is a global leader in medical technology and has been committed to “Contributing to Society through Healthcare” for over 100 years. Based in Tokyo and operating globally, Terumo employs more than 30,000 associates worldwide to provide innovative medical solutions in more than 160 countries and regions. The company started as a Japanese thermometer manufacturer and has been supporting healthcare ever since. Now, its extensive business portfolio ranges from vascular intervention and cardio-surgical solutions, blood transfusion and cell therapy technology, to medical products essential for daily clinical practice such as transfusion systems, diabetes care, and peritoneal dialysis treatments. Terumo will further strive to be of value to patients, medical professionals, and society at large. More information can be found at www.terumo.com.

About Medis Medical Imaging
For over 35 years, Medis has been providing innovative, robust, and extensively validated tools to the medical community worldwide. The heritage and core values are based on this strong purpose of contributing to a healthier society by providing the right tools to cardiologists, radiologists, researchers, and industry partners. Medis’ software is internationally appreciated due to its ease of use and its clinical outcome for the patients. At Medis, quality is key. All products are developed and validated extensively to guarantee the highest quality, without compromise. They continuously focus on the creation of clinically relevant innovative software solutions in the cardiovascular imaging domain.

 

 

BLUETTI Apex 300 Pre-Launch: Next-Gen Versatile Energy with Exclusive Access Open Now

The Apex 300 is built for a simple start—and ready to scale into a smarter energy ecosystem.

LAS VEGAS, April 17, 2025 /PRNewswire/ — BLUETTI, a leader in portable power and energy storage, today announced the pre-launch of its versatile Apex 300 Energy Storage System(ESS). Designed for robust standalone use with a simple plug-and-play setup and low initial investment, the Apex 300 unlocks its full potential through an expandable ecosystem that scales for emergency backup, whole-home backup, and off-grid living.


The Apex 300 is built for tough, standalone performance with a simple plug-and-play setup and low initial cost. Its real strength lies in its expandable ecosystem, allowing it to easily scale to handle emergency backup, whole-home power, and even off-grid living.

From now through May 7th, early adopters can unlock exclusive perks through BLUETTI’s pre-launch program—before the official Indiegogo debut at 8:00 AM PDT on May 8th.

Start Simple, Compact, and Powerful

The Apex 300 stores 2,764.8Wh of capacity in a compact package with 40% higher energy density in its class. Despite its compact size, it delivers 3,840W and dual 120V/240V output on a single unit, to power 99% household appliances from fridges to high-power tools, pool pumps, and clothes dryers.

As the world’s first portable power station with 50A/12,000W bypass capability, the Apex 300 alone is fully capable of running an entire house or charging a Tesla EV. The true 0ms Uninterrupted Power Supply (UPS) ensures seamless power for critical systems like lighting, NAS storage and more during blackouts. The ultra-low 20W AC idle drain places it among the most efficient systems in its class—extending refrigerator runtime by up to 24 hours, prolonging AC standby by 2.5 times, and increasing CPAP usage by 2.5 times.

Scale Smart for Diverse Needs

What sets the Apex 300 apart is its smart ecosystem—easily expandable in output, capacity, and versatility through its ecosystem accessories, including:

  • B300, B300S, B300K Expansion Battery – Adds more energy storage.
  • SolarX 4K Charge Controller – 500V/4,000W PV voltage regulator for high-voltage solar arrays.
  • AT1 Smart Distribution Box – Automates energy management for homes.
  • Hub A1 Parallel Box – Expands storage and power output in a parallel system.
  • Hub D1 DC Power Hub – Provides 700W DC output with a 12V/50A Anderson port.
  • S1 Smart Plug – Optimizes energy use for appliances.
  • Car DC to DC Alternator Charger 1– Offers 560W charging power from vehicles’ alternators.

Smart Backup Power for Modern Homes

Whether for emergency backup or whole-home backup, the Apex 300 grows with users’ needs. It scales up to three units and 18 B300K batteries, tripling the power up to 11,520W output and 58,000Wh capacity, enough to keep a home running for an entire week.

The Apex 300 also helps homeowners create a fully automatic whole-home backup system with up to 30,720W solar input, by pairing with BLUETTI’s smart ecosystem—including the AT1 Smart Distribution Box, Hub A1 Parallel Box, and up to three SolarX 4K Charge Controllers.

Seamlessly integrating with existing rooftop solar inverter systems, this home battery backup allows users to manage loads, set power priorities, and activate smart modes like Extreme Weather Alerts via the BLUETTI App. With the AT1 and the S1 smart plugs, homeowners can intelligently manage solar energy, grid electricity, auto-start a gas generator, and appliances through the app.

Reliable Power for RV and Off-Grid Living

The Apex 300 caters to an off-grid lifestyle as well. It has four standard AC outlets to power A/Cs, microwaves, coffee makers, and other outdoor essential appliances. With integrated NEMA TT-30R and NEMA 14-50R ports, it also works as mobile shore power to directly charge all RVs. 

To charge phones, laptops, and other DC devices, RVers can pair it with the 700W Hub D1, a clip-on mountable DC power hub with seven outlets, including two 100W USB-C, two 15W USB-A, two DC5521, and a 12V/50A Anderson port for safer and easy-to-use DIY setup.

Recharging off the grid is just as effortless. Users can refuel it via EV chargers, gas generators, solar panels, or vehicles via the Car DC to DC Alternator Charger 1, which captures unused engine power to provide up to 560W of fast, on-the-go recharging.

Longer Lifespan and Bigger Return

  • Fastest Payback in 2 Years
    Paired with the SolarX 4K—the world’s first 500V/4,000W PV voltage regulator designed for portable power stations—the system pays for itself in just 2 years. This ensures long-term savings for those powering off-grid cabins or integrating solar into their homes.
  • 17 Years of Reliable Use
    Built on the proven success of the Elite 200 V2 Solar Generator, the Apex 300 takes durability and safety to the next level with 2nd-gen automotive-grade LiFePO₄ cells. Engineered to deliver up to 17 years of dependable service, it’s the ideal power solution for homes, RV living, and demanding off-grid environments.
  • Maximum Value, Minimal Footprint
    With hot-swappable batteries and 40% higher energy density, the Apex 300 delivers full power in a compact form, seamlessly switching between scenarios. This allows users a simple unplug-and-go experience for outdoor use, all while maintaining uninterrupted household power.

Be the First to Experience Apex 300

The Apex 300 Pre-Launch exclusive access opens from April 16th to May 7th. Early supporters can secure priority shipping, supplementary gifts, and exclusive benefits with a $10 deposit— recognizing the trust and enthusiasm that help bring new energy solutions to life.

BLUETTI is inviting everyone to join the Apex 300 Global Community and experience the future of portable, scalable energy firsthand. The official Indiegogo launch of the Apex 300 will start at 8:00 AM PDT on May 8th.

About BLUETTI

As a technology pioneer in clean energy, BLUETTI provides affordable clean energy storage solutions for both indoor and outdoor use. Through initiatives like the LAAF (Lighting An African Family) program, BLUETTI aims to power 1 million African families in off-grid areas. Focusing on innovation and customer needs, BLUETTI has become a trusted industry leader in over 110 countries and regions.

Media Contact

Ellen Lee
PR Specialist
ellenlee@bluetti.com

BLUETTI Pre-Launches the Apex 300: A versatile energy storage system for home backup, RVs, off-grid living, and beyond.
BLUETTI Pre-Launches the Apex 300: A versatile energy storage system for home backup, RVs, off-grid living, and beyond.