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Wing Yip Food Holdings Group Limited Announces Fiscal Year 2024 Financial Results

ZHONGSHAN, China, May 2, 2025 /PRNewswire/ — Wing Yip Food Holdings Group Limited (the “Company” or “Wing Yip”) (Nasdaq: WYHG), a meat product processing company operating through its subsidiaries in mainland China, today announced its financial results for the fiscal year ended December 31, 2024.

Ms. Tingfeng Wang, Chief Executive Officer of Wing Yip, remarked, “We are pleased to share our performance for fiscal year 2024, during which we achieved a 7.88% year-over-year increase in net revenue. This growth was primarily driven by an increase in sales of snack products and frozen meat, fueled by stronger promotion efforts across our direct stores and e-commerce platforms. We believe this performance reflects our success in meeting the growing consumer demand for delicious, convenient, and diverse snack options, a segment we are committed to expanding. In 2024, we introduced 81 new products, including 35 snack items aimed at younger consumers, which enhanced our product range and deepened market engagement. Our research and development expenses increased by 17.01% in fiscal year 2024, driven by our efforts in accelerating product development and deepening our presence in the health food sector. We are focusing on the development of products for fitness-conscious consumers, alongside ongoing innovation in plant-based meat alternatives. In addition, food safety and product quality remain central to us. In April 2024, we established our own quality testing center, to improve risk detection for our own products. In the future, we plan to open the quality testing center to other market participants for quality testing, as well.”

Ms. Wang continued, “By strengthening our product offerings and enhancing quality assurance, we believe we are set to capture emerging opportunities and reinforce our leadership in China’s meat processing industry. As we move forward, we expect to continue leveraging our expertise, resources, and strategic investments to deliver long-term value for our shareholders, partners, and customers.”

Fiscal Year 2024 Financial Summary

  • Net revenues were $144.63 million in fiscal year 2024, an increase of 7.88% from $134.07 million in fiscal year 2023.
  • Gross profit was $44.80 million in fiscal year 2024, compared to $47.10 million in fiscal year 2023.
  • Gross profit margin was 30.97% in fiscal year 2024, compared to 35.13% in fiscal year 2023.
  • Net income was $11.25 million in fiscal year 2024, compared to $14.01 million in fiscal year 2023.
  • Basic and diluted earnings per share were $0.23 in fiscal year 2024, compared to $0.29 in fiscal year 2023.

Fiscal Year 2024 Financial Results 

Net Revenues

Net revenues were $144.63 million in fiscal year 2024, an increase of 7.88% from $134.07 million in fiscal year 2023, which was primarily attributable to a $2.74 million decrease in sales of cured meat products, a $6.91 million increase in sales of snack products, and a $0.91 million increase in sales of frozen meat products, mainly due to increased promotion of snack products by direct stores and e-commerce.

  • Revenue from sales of cured meat products was $86.02 million in fiscal year 2024, an increase from $83.28 million in fiscal year 2023. The sales volume of cured meat products increased from 10,956 tons in fiscal year 2023 to 12,873 tons in fiscal year 2024. The increase in sales volume resulted in an increase of $14.57 million in revenue. The increase was partially offset by the decrease in the currency exchange rates applied to statements of operations from RMB7.0809 to $1.00 for the fiscal year in 2023 to RMB7.1957 to $1.00 for fiscal year in 2024, which caused a decrease of $1.39 million in revenue. In addition, the increase was partially offset by the decrease in the average unit sales price from $8.00 per kilogram for fiscal year 2023 to $6.79 per kilogram for fiscal year 2024, which resulted in a decrease of $10.44 million in revenue.
  • Revenue from sales of snack products was $50.54 million in fiscal year 2024, an increase of 15.83% from $43.64 million in fiscal year 2023. The sales volume of snack products increased from 5,785 tons for fiscal year 2023 to 6,864 tons for fiscal year 2024. The increase in sales volume resulted in an increase of $8.13 million in revenue. The increase was partially offset by the decrease in the currency exchange rates applied to statements of operations from RMB7.0809 to $1.00 for fiscal year 2023 to RMB7.1957 to $1.00 for fiscal year 2024, which caused a decrease of $0.81 million in revenue. In addition, the increase was partially offset by the decrease in the average unit sales price from $7.94 per kilogram for fiscal year 2023 to $7.48 per kilogram for fiscal year 2024, which resulted in a decrease of $0.41 million in revenue.
  • Revenue from sales of frozen meat products was $8.07 million in fiscal year 2024, an increase of 12.78% from $7.16 million in fiscal year 2023. The sales volume of frozen meat products increased from 1,520 tons for fiscal year 2023 to 1,836 tons for fiscal year 2024. The increase in sales volume resulted in an increase of $1.48 million in revenue. The increase was partially offset by the decrease in the currency exchange rates applied to statements of operations from RMB7.0809 to $1.00 for fiscal year 2023 to RMB7.1957 to $1.00 for fiscal year 2024, which caused a decrease of $0.13 million in revenue. In addition, the increase was partially offset by the decrease in the average unit sales price from $4.95 per kilogram for fiscal year 2023 to $4.47 per kilogram for fiscal year 2024, which resulted in a decrease of $0.44 million in revenue.

Cost of Revenues

Cost of revenues were $99.83 million in fiscal year 2024, an increase of 14.79% from $86.97 million in fiscal year 2023. The increase was primarily attributable to an increase in sales volume resulting in an increase of costs, accordingly.

Gross Profit and Gross Profit Margin

Gross profit was $44.80 million in fiscal year 2024, a decrease of 4.89% from $47.10 million in fiscal year 2023. 

Gross profit margin was 30.97% in fiscal year 2024, which decreased from 35.13% in fiscal year 2023. The decrease was mainly due to a $2.17 million decrease in gross profit for sales of cured meat products, a $0.31 million decrease in gross profit for sales of snack products, and a $0.18 million increase in gross profit for sales of frozen meat products.

Operating Expenses

Total operating expenses were $29.03 million in fiscal year 2024, an increase of 4.12% from $27.88 million in fiscal year 2023.

  • Selling expenses were $19.67 million in fiscal year 2024, an increase of 0.62% from $19.55 million in fiscal year 2023. The increase was mainly due to an increase in advertising costs of $0.11 million.
  • General and administrative expenses were $4.38 million in fiscal year 2024, an increase of 7.45% from $4.08 million in fiscal year 2023. The increase was primarily attributable to expense in connection with the initial public offering.
  • Research and development expenses were $4.97 million in fiscal year 2024, an increase of 17.01% from $4.25 million in fiscal year 2023. The increase was primarily attributable to the new research and development cooperation project of $0.69 million.

Net Income

Net income was $11.25 million in fiscal year 2024, compared to $14.01 million in fiscal year 2023.

Basic and Diluted Earnings per Share

Basic and diluted earnings per share were $0.23 in fiscal year 2024, compared to $0.29 in fiscal year 2023.

Financial Condition

As of December 31, 2024, the Company had cash and cash equivalents of $87.93 million, compared to $90.96 million as of December 31, 2023.

Net cash provided by operating activities was $12.48 million in fiscal year 2024, compared to $17.65 million in fiscal year 2023.  

Net cash used in investing activities was $10.10 million in fiscal year 2024, compared to $0.22 million in fiscal year 2023.

Net cash provided by financing activities was $4.41 million in fiscal year 2024, compared to $6.13 million in fiscal year 2023.

Recent Development

On November 27, 2024, the Company completed its initial public offering (the “Offering”) of 2,050,000 American Depositary Shares (“ADSs”) at a public offering price of US$4.00 per ADS. Each ADS represents one ordinary share of the Company. On January 14, 2025, the underwriters exercised the over-allotment option in full to purchase an additional 307,500 ADSs at the public offering price of US$4.00 per ADS. The gross proceeds were approximately $9.43 million, before deducting underwriting discounts and other related expenses. The ADSs commenced trading on the Nasdaq Capital Market on November 26, 2024 under the ticker symbol “WYHG.”

About Wing Yip Food Holdings Group Limited

Wing Yip, is a meat product processing company operating through its subsidiaries in mainland China. The Company, through its operating subsidiaries, sells and markets products under its flagship brand, “Wing Yip,” which can trace its history back to 1915, and has also developed two snack product brands, “Jiangwang” and “Kuangke.” The Company’s products are sold through its self-operated stores, distributors, and e-commerce platforms in over 18 provinces across mainland China. The Company offers cured meat products, snack products, and frozen meat products, processing them through its own dedicated production lines. The Company focuses on product development and is committed to improving product quality and expanding product offerings to cater to evolving consumer preferences. The Company’s ordinary shares have been listed on the Korea Securities Dealers Automated Quotations of the Korea Exchange since 2018.

For more information, please visit the Company’s website: http://ir.wingyip-food.com/. Information on the Company’s website does not constitute a part of and is not incorporated by reference into this press release.

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 identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. 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 that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks, including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the “Risk Factors” section of the registration statement and other filings of the Company filed with the U.S. Securities and Exchange Commission (“SEC”). 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. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov.

For more information, please contact:

Wing Yip Food Holdings Group Limited
Investor Relations Department
Email:ir@wingyip-food.com

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

 

WING YIP FOOD HOLDINGS GROUP LIMITED AND ITS SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Expressed in U.S. Dollars, except for the number of shares)

As of
December 31,
2024

As of
December 31,
2023

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$

87,927,726

$

90,963,594

Restricted cash

880,358

Accounts receivable, net

7,768,381

7,347,892

Inventories

8,456,295

6,576,151

Prepaid expenses and other current assets

7,779,378

3,922,368

TOTAL CURRENT ASSETS

$

112,812,138

$

108,810,005

NON-CURRENT ASSETS:

Property, plant and equipment, net

$

79,568,773

$

70,510,340

Intangible assets, net

47,094

56,069

Land-use rights, net

605,343

650,187

Right-of-use assets

300,664

215,392

Deferred offering costs

605,866

Other non-current assets

157,076

174,317

TOTAL NON-CURRENT ASSETS

$

80,678,950

$

72,212,171

TOTAL ASSETS

$

193,491,088

$

181,022,176

LIABILITIES

CURRENT LIABILITIES:

Short-term loans

$

6,712,972

$

6,478,964

Long-term loans

10,506,144

781,701

Accounts payable

8,095,509

7,786,391

Notes payable

2,934,527

Deferred income

46,874

65,495

Accrued expenses and other payables

3,195,138

3,433,862

Taxes payable

3,603

857,512

Lease liabilities

87,648

41,985

TOTAL CURRENT LIABILITIES

$

31,582,415

$

19,445,910

NON-CURRENT LIABILITIES:

Long-term loans

$

4,335,336

$

16,726,570

Lease liabilities

278,282

212,615

Deferred tax liabilities

1,550,063

1,580,428

TOTAL NON-CURRENT LIABILITIES

$

6,163,681

$

18,519,613

TOTAL LIABILITIES

$

37,746,096

$

37,965,523

COMMITMENTS AND CONTINGENCIES (NOTE 19)

SHAREHOLDERS’ EQUITY

Ordinary shares (No par value; 50,023,428 and 47,973,428 shares issued and
outstanding as of December 31, 2024 and 2023)

$

$

Additional paid-in capital

42,997,303

37,370,297

Statutory reserve

12,087,066

10,435,949

Accumulated other comprehensive loss

(9,307,406)

(5,119,036)

Retained earnings

109,968,029

100,369,443

TOTAL SHAREHOLDERS’ EQUITY

$

155,744,992

$

143,056,653

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

$

193,491,088

$

181,022,176

 

 

WING YIP FOOD HOLDINGS GROUP LIMITED AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(Expressed in U.S. Dollars, except for the number of shares)

Years ended December 31,

2024

2023

2022

Revenues

144,629,055

134,068,317

130,789,405

Cost of revenues

(99,833,630)

(86,972,132)

(86,444,589)

Gross profit

44,795,425

47,096,185

44,344,816

Operating expenses:

Selling expenses

(19,672,532)

(19,550,604)

(19,691,729)

General and administrative expenses

(4,379,642)

(4,075,896)

(4,006,282)

Research and development expenses

(4,973,452)

(4,250,451)

(4,105,172)

Total operating expenses

(29,025,626)

(27,876,951)

(27,803,183)

Other income (expenses):

Interest income

179,412

178,758

244,416

Interest expenses

(1,064,745)

(995,345)

(83,516)

Other income, net

58,766

208,908

122,240

Other expense, net

(2,839,598)

(2,111,109)

(1,762,251)

Exchange loss

(3,298)

(11,651)

(55,654)

Total other expenses, net

(3,669,463)

(2,730,439)

(1,534,765)

Income before income tax

12,100,336

16,488,795

15,006,868

Income tax expenses

(850,633)

(2,478,882)

(3,812,884)

Net income

11,249,703

14,009,913

11,193,984

Comprehensive income

Net income

Foreign currency translation adjustments, net of tax           

4,188,370

3,831,082

10,312,615

Comprehensive income

15,438,073

17,840,995

21,506,599

Earnings per share, basic and diluted

0.23

0.29

0.23

Weighted average number of shares

48,175,620

47,973,428

47,973,428

 

 

WING YIP FOOD HOLDINGS GROUP LIMITED AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Expressed in U.S. Dollars, except for the number of shares)

For the years ended
December 31,

2024

2023

2022

Cash flows from operating activities:

Net income

$

11,249,703

$

14,009,913

$

11,193,984

Adjustments to reconcile net income (loss) to net cash used in
operating activities:

Depreciation of property, plant and equipment

4,418,774

3,016,946

1,347,274

Written off property, plant and equipment

614,527

2,007,477

1,668,442

Allowance for credit losses

(43,797)

18,630

(8,374)

Amortization of intangible assets

9,003

7,402

6,995

Amortization of land use right

27,472

22,933

16,863

Amortization of right-of-use asset

91,368

134,971

649,362

Deferred income taxes

(30,365)

(43,378)

(27,160)

Changes in operating assets and liabilities:

Accounts receivable

(376,692)

(3,310,188)

(2,233,756)

Inventories

(1,880,144)

1,152,696

(1,813,479)

Prepaid expenses and other current assets

(3,857,006)

1,139,213

(724,326)

Other non-current assets

17,241

30,893

16,045

Accounts payable

309,118

671,155

(6,041,247)

Notes Payable

2,934,530

Deferred revenue

(18,621)

(19,737)

(26,296)

Taxes payable

(853,909)

(859,792)

(1,422,488)

Lease liabilities

111,330

(124,456)

(678,659)

Accrued expenses and other payables

(238,724)

(203,052)

(312,809)

Net cash provided by operating activities

12,483,808

17,651,626

8,922,859

Cash flows from investing activities:

Purchase of property, plant and equipment

(10,102,478)

(217,053)

(18,056,679)

Purchase of intangible assets

(548)

(5,113)

Net cash used in investing activities

(10,103,026)

(222,166)

(18,056,679)

Cash flows from financing activities:

Issuance of ordinary shares, net of offering costs

6,232,872

Proceeds from short-term loans

7,123,971

6,478,964

9,961,845

Proceeds from long-term loans

650,747

4,647,953

11,598,910

Repayment of short-term loans

(6,712,972)

(3,802,870)

(15,727,397)

Repayment of long-term loans

(2,880,120)

(591,558)

Deferred offering costs

(605,866)

Net cash provided by financing activities

4,414,498

6,126,623

5,833,358

Effect of exchange rate changes

(8,950,790)

13,817

(6,070,232)

Net increase (decrease) in cash

(2,155,510)

23,569,900

(9,370,694)

Cash and cash equivalents at beginning of the year

90,963,594

67,393,694

76,764,388

Cash and cash equivalents at end of the year

88,808,084

90,963,594

67,393,694

Supplemental disclosures of cash flows information:

Cash paid for income taxes

2,352,255

5,310,182

2,044,224

Cash paid for interest expense

992,556

923,699

576,097

Supplemental disclosures of non-cash information:

Lease liabilities arising from obtaining right-of-use assets

183,839

15,225

39,947

 

Asian Hall of Fame Unveils Sensational Class of 2025

2025 Induction Ceremony Set for November 1 at Iconic Biltmore Los Angeles

LOS ANGELES, May 2, 2025 /PRNewswire/ — Asian Hall of Fame unveiled an expansive Class of 2025 whose profound impact as pillars of vision and resilience epitomize ideals of leadership and optimism inspiring generations to come.

Experience the full interactive Multichannel News Release here: https://www.multivu.com/asian-hall-of-fame/9333051-en-asian-hall-of-fame-unveils-sensational-class-of-2025

The Official Announcement kicks-off Asian Heritage Month on May 1 at the California Icons Gala and highlights the highest honor for Asian and Indigenous luminaries.

The 2025 Induction Ceremony on November 1 at The Biltmore Los Angeles, California will also stream live on Roku.

15 Inductees and 3 Goodwill Ambassadors were screened from 613 nominations. Inductees must trace, or be married to an Inductee who can trace 25% of their heritage to one of 33 countries. Indigenous Asian, Native American and Eskimo tribes are also eligible.

“As Asian Hall of Fame enshrines Class of 2025, we honor the lasting legacy of their achievements, heritage and families who continue to advance progress and prosperity in America and around the world,” states Maki Hsieh, Asian Hall of Fame President & CEO.

Tickets are not available for public sale. Asian Hall of Fame Inductees and donors receive exclusive Induction ticket opportunities. Press can access images and bios at asianhalloffame.org/pressroom. Media credential applications are open.

CLASS OF 2025
Bui & Herbie Simon, Philanthropists & Indiana Pacers Owner
Cindy Y. Huang, Founder, Green Rock Investment Fund
Fiona Ma, CPA, 34th Treasurer of California
Il Yeon Kwon, Founder, H Mart
Jensen Huang, Co-Founder, President & CEO, Nvidia
Michelle Kwan, Olympic Medalist & Former U.S. Ambassador to Belize
Rika and Manu ShahRaj Shah, Rup Shah, Philanthropists & Founders, MSI International
Roman Gabriel Jr., Legendary NFL Quarterback
Sooman Lee, K-Pop Trailblazer
Stephen and Lynn Valbuena, Rich Valbuena, Sabrina Castaneda, Yuhaaviatam of San Manuel Nation
Studio Ghibli, Animation Studio
William Wang, Founder & CEO, Vizio
Yao Ming, Basketball Hall of Famer
Yi So-yeon, First Korean Astronaut
Yoshiki, Cultural Icon

GOODWILL AMBASSADORS
John Paris (Earth, Wind & Fire)
Kevin Olusola (Pentatonix)
Sebu Simonian (Capital Cities)

NATIONAL MERIT PRIZES
Champion for Change Prize – Emmanuel Coquia

ABOUT ASIAN HALL OF FAME
Established in 2004, Asian Hall of Fame honors national and international luminaries, Indigenous leaders, and cross-cultural ambassadors. Its intergenerational work advances scholarships, trauma aid and heritage preservation.

Contact: press@asianhalloffame.org, (626) 600-9418, www.asianhalloffame.org.

 

REALTY ONE GROUP CELEBRATES 20 YEARS, MAY 1st, WITH COMMUNITY GIVING AROUND THE WORLD

State of Nevada Declares May 1st Realty ONE Group Day while ONE Family Members Everywhere Serve Their Friends and Neighbors in Traditional Give-Back

LAGUNA NIGUEL, Calif., May 2, 2025 /PRNewswire/ — Realty ONE Group International, a modern, purpose-driven lifestyle brand and ONE of the fastest-growing franchises in the world, marks its 20th anniversary on May 1st with its traditional day of volunteerism as ONE Family members around the globe celebrate by giving back to their local communities. 

In two decades, the now global brand has grown from ONE office in Las Vegas, to more than 450 locations and 20,000 real estate professionals in 25 countries. In that time, Realty ONE Group has stayed true to its 6C’s principles, ONE of which is serving others and making an impact.

Impacting lives is the foundation of what we do every day, and that will never shift or change,” said Kuba Jewgieniew, CEO and Founder. “Every ONE Family member can be proud of the fact that they’re part of something bigger, more meaningful and what they do and how they serve really matters – it’s our goal to remind them of that and to celebrate them!”

From food drives and meal deliveries, to volunteering at children’s camps and walking shelter dogs, Realty ONE Group Affiliates always show out in force on ONE Day. Overall and through its ONE Cares, 501(c)3 everyday initiatives, Realty ONE Group professionals have impacted more than 1.7 million lives since 2005.

The global franchisor is looking ahead to the rest of 2025, innovating and driving towards success with new advancements coming later this year:

  • The launch of Realty ONE Group Commercial, the brand’s exclusive commercial real estate sub-brand, mirroring the successful launch of its luxury real estate sub-brand, ONE LUXE, just a few years ago.
  • An exciting partnership with Brian Buffini, ONE of the most powerful thought leaders and coaches in real estate, as Realty ONE Group continues to help real estate professionals achieve greater success faster through its elite coaching via ONE University (ONE.U).
  • The reinvention and relaunch of Realty ONE Group’s proprietary, all-in-ONE tech platform “zONE” with new sophisticated, intuitive features for real estate pros, franchise owners and office administrators.

Realty ONE Group was recently named the No. 1 real estate brand for the fourth year in a row on Entrepreneur’s highly-competitive 2025 Franchise 500® list. The UNBrokerage as it is known in the industry has more than 20,000 real estate professionals in more than 450 offices in 49 states, Washington D.C., and 25 more countries, recently expanding into Bonaire and Curacao.

Learn more at www.OwnAOne.com or www.join.realtyonegroup.com.

About Realty ONE Group International
Realty ONE Group International is one of the fastest growing, modern, purpose-driven lifestyle brands in real estate whose ONE Purpose is to open doors across the globe – ONE home, ONE dream, ONE life at a time. The organization has rapidly grown to more than 20,000 real estate professionals in over 450 locations across 25 countries and territories because of its proven business model, full-service brokerages, dynamic COOLTURE, superior business coaching through ONE University, outstanding support and its proprietary technology, zONE. Realty ONE Group International has been named the number ONE real estate brand by Entrepreneur Magazine for three consecutive years and continues to surge ahead, opening doors, not only for its clients but for real estate professionals and franchise owners. To learn more, visit www.RealtyONEGroup.com.

 

OMRON Introduces the OL-450S – A Complete Autonomous Mobile Robot Solution for Material Handling

PLEASANTON, Calif., May 2, 2025 /PRNewswire/ — OMRON Robotics and Safety Technologies has released the OL-450S, a low-profile, omni-directional Autonomous Mobile Robot (AMR) designed to optimize workflows, maximize efficiency, and improve safety. Featuring an integrated lifting plate, advanced navigation, and centralized fleet management, the OL-450S offers a complete solution for automating material transport in automotive, semiconductor and electronics, food and household goods, medical, and other fast-paced industries.

Streamlined and Safe Material Handling

The OL-450S efficiently handles the transport of load carriers with a payload capacity of up to 450kg and a lifting range from 108 to 308mm. Its integrated lifting plate reduces customization investments and time-consuming engineering. This allows businesses to improve operational efficiency without infrastructure changes.

Advanced Navigation and Wireless Charging for Smarter Operations

Equipped with 360° safety coverage and omni-directional drive, the OL-450S navigates complex layouts with ease, avoiding obstacles and ensuring safe operation around personnel. Strategically positioned sensors enhance localization, while its flexible movement—including forward, reverse, and lateral.

With wireless charging, the OL-450S offers flexible deployment, simplified management, and uninterrupted workflows.

Centralized Fleet Management for Maximum Efficiency

As with all OMRON AMRs, the OL-450S is managed by OMRON’s FLOW Core software, a centralized platform capable of managing fleets of up to 100 mobile robots with varying payload capacities. This enterprise-level system ensures seamless integration into existing infrastructure, enabling streamlined operations and optimal fleet performance.

“The OL-450S represents a significant advancement in autonomous material handling,” said Justin King, Vice President, Product Management and Marketing at OMRON Robotics and Safety Technologies. “Its low-profile design, combined with its powerful navigation and fleet management capabilities, makes it an ideal solution for businesses looking to automate their material transport processes and improve safety and productivity.”

For more information about the OL-450S, visit our website: robotics.omron.com to connect with our team.

About OMRON Robotics and Safety Technologies, Inc.

In October 2015, OMRON acquired Adept Technology Inc., a U.S. based leader in robotics, as part of OMRON’s acceleration of its “Complete Automation Solution” strategy for its Industrial Automation Business. In 2019, OMRON Robotics and Safety Technologies was formed as a merger of OMRON’s safety and robotics businesses to provide comprehensive solutions for automation and safety. The company aims to contribute to realizing a new manufacturing environment where people and robots work safely in harmony.

OMRON Robotics has added the OL-450S to its existing Autonomous Mobile Robot (AMR) fleet. Meet the OL-450S.
OMRON Robotics has added the OL-450S to its existing Autonomous Mobile Robot (AMR) fleet. Meet the OL-450S.

Logo – https://laotiantimes.com/wp-content/uploads/2025/05/omron_logo.jpg
Photo – https://laotiantimes.com/wp-content/uploads/2025/05/amr_group_shot___ol.jpg

New LCA Study: XLERATOR® hand dryers slash carbon footprint by 94% compared to paper towels

Latest Life Cycle Assessment (LCA) reveals Excel Dryer’s high efficiency hand dryers dramatically reduce environmental impact versus paper towels.

EAST LONGMEADOW, Mass., May 2, 2025 /PRNewswire/ — All you have to do is follow the data. Excel Dryer, Inc., the pioneering force behind the touchless, high-efficiency hand dryers, provides products that are more environmentally friendly than paper towels. That’s according to third-party testing examining the dryers’ carbon footprint from manufacture to transportation, use and disposal.

For the Life Cycle Assessment (LCA) of Excel hand dryers, independent consultant TrueNorth Collective determined they provide up to a 94% reduction of carbon footprint versus 100% recycled paper towels.

“We’re proud of our strong record of sustainability at Excel Dryer, especially with many countries setting a net zero goal within five years,” said Josh Griffing, Excel Dryer Director of Marketing & International Sales. “It feels great knowing we can help architects and business owners minimize environmental impact.”

Saving energy also translates to saving money. Excel’s interactive cost calculator shows cost cutting along with climate change benefits.

TrueNorth’s LCA compared the environmental impacts of hand dryers versus paper towel systems by examining all stages of the products’ life cycles, “from cradle-to-grave.” This includes all material, energy, water and pollutant inputs and outputs.

Categories include:

  • Global warming
  • Acidification
  • Smog formation
  • Ozone depletion
  • Fossil depletion
  • Water consumption
  • Presence of carcinogens
  • Ecotoxicity
  • Eutrophication

“This backs up what we at Excel Dryer have known for a long time,” said Griffing. “Constantly restocking restrooms with paper towels leads to higher costs, more maintenance, waste and potentially more global warming. We’re fortunate we can offer a solution.” 

Many companies are striving to meet net-zero goals and must choose building materials that align with sustainability objectives. Hand dryers contribute to these efforts by supporting green building certifications such as LEED and WELL.

About Excel Dryer, Inc.
Excel Dryer is a family-owned and operated company that revolutionized the industry with the invention of the XLERATOR® Hand Dryer, which set a new standard for performance, reliability and customer satisfaction. For more than 50 years, Excel has been manufacturing American-made hand drying solutions that are dependable, cost effective, safe and sustainable. Backed by the best customer service, Excel Dryer products can be purchased through an established network of sales representatives and distributors globally. Learn more about Excel Dryer at exceldryer.com.


 

XLERATOR® hand dryers slash carbon footprint by 94% compared to paper towels.
XLERATOR® hand dryers slash carbon footprint by 94% compared to paper towels.

 

New RMI Study Finds Next-Gen ACs Cut Energy Costs by 50% in India

NEW YORK, May 1, 2025 /PRNewswire/ — A new study by RMI and the Global Cooling Efficiency Accelerator (GCEA) reveals that next-generation air conditioners (ACs) use 60% less energy than conventional units and cut lifetime energy costs by more than 50%—a breakthrough in energy-efficient cooling technology.

The nine-month study, conducted in Palava City, India, in partnership with Lodha and CEPT University, tested high-efficiency AC prototypes under extreme summer conditions and compared them to standard units. The results show that super-efficient ACs not only consume significantly less energy but also improve comfort and grid reliability. Key findings include:

  • Super-efficient ACs used 60% less energy than a typical AC in real-world conditions over the nine-month testing period. Unlike typical units, the super-efficient ACs consistently achieved the target temperature and relative humidity for optimal comfort.
  • Typical ACs use significant extra energy to control humidity—a factor not captured by current AC performance metrics. Testing revealed that up to 25% more energy is used just to manage humidity in conventional units.
  • In addition to energy savings, super-efficient ACs reduce peak electricity demand by 50% compared with typical ACs. This helps prevent power outages and avoids costly infrastructure upgrades by lowering stress on the grid.
  • Over their lifetime, super-efficient ACs can save consumers more than 50% on energy bills, resulting in a substantially lower total cost of ownership.
  • These findings show that next-generation ACs could transform cooling worldwide. If the 3 billion ACs expected to be installed globally by 2050 were super-efficient models, we could avoid 68 gigatons of emissions—more than the world’s total annual emissions today.

Air conditioning is set to become the world’s second-largest driver of electricity demand by 2030—behind only electric vehicles and generating over three times the load of data centers. If current technologies persist, rising cooling needs will fuel a cycle of higher demand, rising costs, and pressure on already-stressed power grids. This study shows that scaling super-efficient ACs offers a clear solution: cutting energy use, lowering costs, improving comfort, and easing strain on the grid.

Read the report: https://rmi.org/insight/bringing-super-efficient-air-conditioners-to-the-market/

About RMI:

Rocky Mountain Institute (RMI) transforms global energy systems through market-driven solutions to secure a prosperous, resilient, clean energy future for all. RMI works with businesses, policymakers, and communities to scale renewable energy solutions, reduce energy waste, and boost access to affordable clean energy.

Media Contact:

media@rmi.org

TESSAN Partners with One Tree Planted to Launch “Charging the Future” Initiative: A Commitment to Sustainability

LOS ANGELES, May 2, 2025 /PRNewswire/ — In an era where technology accelerates the pace of life, TESSAN believes that technology can—and should—play a role in healing the planet rather than merely accelerating life. As a brand specializing in home and travel charging solutions, TESSAN has made a decision to integrate sustainability into its core mission. Starting in 2025, TESSAN is taking a significant step forward by partnering with the globally recognized environmental organization One Tree Planted to officially launch the”Charging the Future”initiative. This initiative aims to connect environmental conservation with everyday lifestyles by pledging to”Plant a tree for every product sold,” transforming each purchase into a commitment to the planet’s future.

TESSAN Partners with One Tree Planted to Launch "Charging the Future "Initiative: A Commitment to Sustainability
TESSAN Partners with One Tree Planted to Launch “Charging the Future “Initiative: A Commitment to Sustainability

Beyond Chargers: A Rooted Responsibility

Why does TESSAN support tree planting? This is not because TESSAN is an environmental organization, but because it is a brand with a sense of responsibility. Every time users plug a TESSAN device into the wall, the company hopes to connect not only electricity to devices but also people to nature, bridging the gap between technology and the environment.

At first glance, planting a tree may seem like a small act, but it carries significant meaning.  A tree represents clean air, fertile soil, thriving wildlife, and a promise for future generations.  This is why TESSAN commits to planting a tree for every product sold.

This commitment is not just a slogan; it’s a tangible action. The TESSAN product in the user’s hand is not merely a tool to power their devices, it symbolizes a living tree, rooted in the earth, silently growing, and contributing to the planet’s future. Although users may have never seen the tree they planted with their own hands or walked into the forest where it grew, it is certain that the tree is there—full of vitality, constantly growing, and helping to protect the future that everyone cares about.

How It Works:

Every TESSAN item = One Tree for the Future

Step 1: Pick any TESSAN product
Step 2: Complete the purchase
Step 3: TESSAN plants a tree on the purchaser’s behalf
Step 4: Subscribe to the TESSAN email to receive a Tree digital Certificate

Starting From Now

Through its collaboration with One Tree Planted, TESSAN is making a long-term commitment to a sustainable future. “Charging the Future” is about adding value to every purchase—transforming consumer actions into environmental progress. This initiative marks not only TESSAN’s first public welfare marketing campaign but also a significant step toward becoming a global sustainable brand. TESSAN believes that every user deserves the “power to save the planet,” and its role is to make this power visible, credible, shareable, and sustainable.

TESSAN has always believed that even the tiniest power can help save the planet, and small actions can generate tremendous energy, allowing young saplings to come together to form a forest. This initiative is TESSAN’s way of proving that “everyone can participate in actions to improve the planet”.

Join TESSAN’s mission of “Charging the Future” and help plant a tree for every product sold, one click from you could spark change. Together, create a lasting impact and ensure a future worth protecting.

About TESSAN

TESSAN, a trusted partner in charging solutions, is committed to enriching experiences both at home and during travel. The brand offers a wide array of products, including multifunctional power strips, travel adapters, wall extenders, and smart home devices. Supported by a robust R&D and production team, TESSAN develops innovative socket products for users across the globe. With the trust of over 20 million users, TESSAN empowers their journeys from home to every destination, promoting environmentally conscious electricity usage.

For more information, visit www.tessan.com or the TESSAN Amazon store, and follow TESSAN on Facebook, Instagram, and YouTube.

Derien Lin
derien@tessan.com

SHEIN Marketplace U.S. Hosts First-Ever Seller Community Event, ‘SHEIN Elevate,’ in Los Angeles

The invite-only, one-day event brought together SHEIN Marketplace sellers and partners for expert insights, hands-on learning, and a celebration of seller success.

LOS ANGELES, May 2, 2025 /PRNewswire/ — On April 30, the SHEIN U.S. Marketplace team hosted its inaugural seller community event at SHEIN’s Los Angeles office. The event brought together members of the SHEIN seller community as well as key solution provider partner sponsors, creating an exciting environment for networking, learning, and collaboration.

Throughout the event, sellers gained valuable insights into expanding their reach through SHEIN Marketplace’s unique platform benefits, including zero monthly fees, easy onboarding, low referral fees, API integration, and zero-cost advertising opportunities.

“Bringing together our vibrant community of sellers and partners for this intimate in-person event marks an exciting milestone in our SHEIN Marketplace growth journey,” said George Chang, general manager and head of SHEIN Marketplace U.S. “Elevate reflects our continued commitment to empowering entrepreneurs, fostering innovation, and offering an incredible shopping experience for our customers. We’re inspired by the energy and turnout at the event, and the momentum it creates for the future.”

SHEIN also announced an integration with ShipBob, a leading global supply chain and fulfillment platform that enables sellers to scale operations by leveraging ShipBob’s extensive fulfillment network across the U.S., ensuring fast, reliable delivery to customers. ShipBob customers can now expand their reach by seamlessly connecting to SHEIN Marketplace, syncing products, orders, and shipment tracking.

“Channel diversification is key to unlocking new growth opportunities,” said, Dhruv Saxena, CEO and co-founder of ShipBob. “With the ShipBob integration, SHEIN Marketplace sellers can now streamline their operations, manage orders seamlessly, and deliver exceptional service to customers across the globe.”

The evening culminated with the SHEIN Seller Awards, celebrating sellers for their innovation and performance across various categories. The awards recognized valued seller partners who have demonstrated exceptional growth, creativity, and commitment to prioritizing customer experience. This year’s winners included Seller of the Year, Monster Digital, a leader in the direct to garment print space.

“Joining SHEIN Marketplace has been a game-changer for our business,” said Jon Halvorson, vice president of partnerships at Monster Digital. “We’ve experienced significant growth by staying responsive to customer feedback, quickly adapting to emerging trends, and making full use of the robust tools and guidance provided by SHEIN’s Seller Support team. The platform has not only helped us boost sales but also given us valuable insights into Gen Z shopping behavior and evolving fashion trends.”

Elevate was sponsored by several of SHEIN’s authorized third-party solution partners, including Flexport, Gierd, SellerCloud, Acenda, AftershipBase, Canal, CedCommerce, Feedonomics, Linnworks, and ShipBob. These partners offer a broad range of services—from multi-channel listings management to full-service inventory and fulfillment solutions—empowering sellers with the tools they need to grow and scale successfully on SHEIN Marketplace.

Looking ahead, SHEIN Marketplace is committed to continuing to provide sellers with the tools, resources, and support needed to set them up for success.  SHEIN Marketplace is also currently looking to onboard new sellers to meet the demands of SHEIN’s growing customer base; more information for prospective sellers can be found here.

Learn more about SHEIN Marketplace in the U.S. at https://marketplace.shein.com.

About SHEIN

SHEIN is a global online fashion and lifestyle retailer offering SHEIN-branded apparel and products from a global network of vendors, all at affordable prices. Headquartered in Singapore, SHEIN is committed to making the beauty of fashion accessible to all, promoting its industry-leading, on-demand production methodology for a smarter, future-ready industry. To learn more about SHEIN, visit www.sheingroup.com.

About ShipBob

ShipBob is a leading global supply chain and fulfillment technology platform designed for SMB and mid-market ecommerce merchants. ShipBob’s technology offers a unified view of business operations, enabling merchants to manage products, inventory, orders, and shipments across multiple sales channels. With 60+ fulfillment centers worldwide, ShipBob helps businesses scale their operations and improve delivery speed. For more information, visit www.shipbob.com.