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GoDaddy Airo®: An AI-Powered Revolutionary Solution for Pakistani Entrepreneurs and Small Business Owners

GoDaddy Airo Delivers website creation, logo design and digital marketing strategies for entrepreneurs to get started online quickly

ISLAMABAD, Feb. 18, 2025 /PRNewswire/ — GoDaddy, a global leader in empowering entrepreneurs, unveiled GoDaddy Airo®, an innovative AI-powered experience set to transform small and medium-sized businesses sector. This groundbreaking new AI-powered experience enables entrepreneurs to establish a comprehensive online presence within minutes, bridging the gap between vision and digital reality.

Selina Bieber, Vice President for International Markets at GoDaddy, emphasized the new experience’s significance, “GoDaddy Airo® provides accessible AI-powered tools for Pakistani entrepreneurs and business owners to realize the benefits of using AI technology to help build and grow their digital brands together effortlessly.”

The AI-driven features include instant brand creation, digital marketing tools, Search Engine Optimization, and a user-friendly interface that allows navigation of advanced features without technical expertise. GoDaddy Airo® generates custom logos, websites, and email addresses in moments, develops targeted social media calendar aligned with local events, and enhances online visibility with built-in email marketing campaigns.

Many small business owners feel they face challenges in leveraging new technologies, primarily due to high implementation costs and lack of in-house technical expertise. GoDaddy Airo® eliminates these obstacles by providing cost-effective solutions accessible to businesses of all sizes, an intuitive design requiring no specialized skills, and comprehensive support and resources to confidently embrace AI technology and realize its benefits to their business operations.

With the purchase of a domain name, GoDaddy Airo® leverages the power of AI to make it easy to start a business and take it to the next level with a user-friendly online interface that requires no technical expertise. 

Key features include: 

  • Logo Creation – Building a compelling visual identity is essential for any business but can be time-consuming and expensive. With GoDaddy Airo® entrepreneurs can generate unique, professional logos in minutes, providing a solid brand image without needing design expertise.  
  • Instant Website Development – One of the platform’s standout features is its ability to generate complete websites instantly. Entrepreneurs can publish a functional site with personalized content within minutes, simplifying digital presence creation without technical skills.   
  • Automated Search Engine Optimization – GoDaddy helps businesses enhance their search rankings by providing suggestions to optimize their websites with targeted keywords and descriptions. AI analyses and recommends improvements, increasing visibility in search engine results and helping small businesses attract more customers.   
  • Professional Email Services – A company domain-based email not only builds customer trust but also promotes the brand with every message sent. Additionally, it is backed by advanced email security through Microsoft 365, with features such as proactive protection, email backup, archiving, and seamless migration.   

“GoDaddy Airo® can offer business owners new opportunities, while saving valuable time, so they can focus on building their brand, engaging with their customers and growing,” added Bieber.

For more information on how GoDaddy Airo® can help your business, visit.

About GoDaddy
GoDaddy helps millions of entrepreneurs globally start and scale their businesses. People come to GoDaddy to name their idea, build a website and logo, sell their products and services, and accept payments. GoDaddy Airo®, the company’s AI-powered experience, makes growing a small business faster and easier by enabling them to get their idea online in minutes, drive traffic and boost sales. GoDaddy’s expert guides are available 24/7 to provide assistance. To learn more about the company, visit www.GoDaddy.com

 

SC Asset Hosts Exclusive Agent Briefing in Taipei to Unlock Thailand’s Real Estate Potential

TAIPEI, Feb. 18, 2025 /PRNewswire/ — SC Asset, one of Thailand’s leading property developers, will host its first Exclusive Agent Briefing in Taipei on February 25, 2025, at Humble House Taipei, Orchid Room (5th floor). This event will provide real estate professionals with exclusive insights into Bangkok’s lucrative property market and introduce collaboration opportunities with SC Asset.

With over 20 years of innovation and success, SC Asset currently has more than 90 projects on sale, ranging from single detached houses and townhomes to premium freehold condominiums. Its diverse portfolio spans all market segments, from affordable homes to ultra-luxury residences.

Attendees will gain valuable insights into Thailand’s rapidly growing real estate sector and explore investment opportunities with properties priced between 3 million TWD and 550 million TWD. Real estate agents will also benefit from a high and fast commission structure, ensuring attractive returns. To facilitate seamless transactions, SC Asset provides comprehensive support from native-speaking professionals and offers exclusive privileges and incentives to its partners.

The event will feature an executive talk by Ms. Pitchakorn Meesak, Head of Global Network, SC Asset Corporation. In addition to sharing key market insights and partnership benefits, she will engage directly with attendees, offering opportunities for networking and business collaborations.

SC Asset is actively seeking real estate professionals in Taiwan region who are interested in expanding their portfolio with premium Thai properties. The company offers strong support and attractive incentives for agents looking to introduce Bangkok’s top-tier developments to their clients.

The event will take place on Tuesday, February 25, 2025, at 1:30 PM at Humble House Taipei, 5th Floor, Orchid Room. As seating is limited, advance registration is required to secure your spot.

Register Now: https://forms.gle/ayp5jwTDuAnw9WAZ6 

For more information, please contact +66(0)65 050 5454 or email internationalbuyers@scasset.com

Medtronic reports third quarter fiscal 2025 financial results

Delivering durable revenue growth with strong earnings power; strength in Pulsed Field Ablation, Pacing, Structural Heart, Diabetes, and Neuromodulation

GALWAY, Ireland, Feb. 18, 2025 /PRNewswire/ — Medtronic plc (NYSE: MDT) today announced financial results for its third quarter (Q3) of fiscal year 2025 (FY25), which ended January 24, 2025.

Key Highlights

  • Revenue of $8.3 billion increased 2.5% as reported and 4.1% organic
  • GAAP diluted EPS of $1.01 increased 2%; non-GAAP diluted EPS of $1.39 increased 7%
  • Company reiterates full year revenue and EPS guidance
  • Cardiac Ablation Solutions revenue increased low-20s on strength of pulsed field ablation (PFA) products
  • U.S. Centers for Medicare and Medicaid (CMS) announced coverage for Renal Denervation for the treatment of Hypertension expected to become final on or before October 11, 2025

Financial Results
Medtronic reported Q3 worldwide revenue of $8.292 billion, an increase of 2.5% as reported and 4.1% on an organic basis. Organic revenue growth comparison excludes:

  • Other revenue of $32 million in the current year and $53 million in the prior year; and
  • Foreign currency translation of –$103 million on the remaining segments.

As reported, Q3 GAAP net income and diluted earnings per share (EPS) were $1.294 billion and $1.01, respectively, representing a decrease of 2% and an increase of 2%, respectively. As detailed in the financial schedules included at the end of this release, Q3 non-GAAP net income and non-GAAP diluted EPS were $1.787 billion and $1.39, respectively, representing increases of 3% and 7%, respectively.

“We delivered strong earnings this quarter, with significant improvements in both our gross margin and operating margin on the back of our ninth quarter in a row of mid-single digit organic revenue growth,” said Geoff Martha, Medtronic chairman and chief executive officer. “We are starting to see the results from our long term investments in groundbreaking innovation, such as pulsed field ablation, to drive growth in some of the most attractive markets in MedTech.”

Cardiovascular Portfolio
The Cardiovascular Portfolio includes the Cardiac Rhythm & Heart Failure (CRHF), Structural Heart & Aortic (SHA), and Coronary & Peripheral Vascular (CPV) divisions. Revenue of $3.037 billion increased 3.7% as reported and 5.0% organic, with mid-single digit increases in CRHF and SH&A, and a low-single digit increase in CPV, all on an organic basis.

  • CRHF results included mid-single digit growth in Cardiac Rhythm Management, driven by low-double digit growth in Cardiac Pacing Therapies, including mid-20s growth in Micra™ transcatheter pacing systems; Cardiac Ablation Solutions achieved low-20s growth on rapid adoption of the PulseSelect™ and Affera™ Sphere-9™ PFA systems
  • SHA results driven by high-single digit Structural Heart growth, excluding congenital, on the continued strength of the Evolut™ FX+ TAVR system, and high-single digit growth in Cardiac Surgery
  • CPV growth driven by high-single digit growth in balloons and mid-single digit growth in guide catheters and drug-coated balloons
  • Recent U.S. FDA approval for additional pulsed field ablation manufacturing site in Galway; immediately boosts Affera™ supply
  • Expanded U.S. presence in fast-growing carotid market with exclusive Contego Medical distribution agreement; includes recently FDA approved carotid stenting system and option to acquire; Contego Medical running clinical trial on next-generation transcarotid artery revascularization (TCAR) system
  • Announced CMS opened a National Coverage Analysis (NCA) on Renal Denervation for the treatment of hypertension, with coverage expected to become final on or before October 11, 2025

Neuroscience Portfolio
The Neuroscience Portfolio includes the Cranial & Spinal Technologies (CST), Specialty Therapies, and Neuromodulation divisions. Revenue of $2.458 billion increased 4.4% as reported and 5.2% organic, with a low-double digit increase in Neuromodulation, mid-single digit increase in CST, and low-single digit increase in Specialty Therapies, all on an organic basis.

  • CST driven by high-single digit Neurosurgery growth on continued adoption of the AiBLE™ ecosystem of enabling technology; CST in the U.S. grew high-single digits, winning share
  • Specialty Therapies results driven by mid-single digit growth in Pelvic Health on continued adoption of the InterStim X™ system; ENT grew low-single digits on strength in PTeye™ capital and disposables; Neurovascular, excluding China, grew mid-single digit with strength in flow diversion
  • Neuromodulation above market performance driven by low-double digit Pain Stim growth, including high-teens U.S. growth, on the continued launch of the Inceptiv™ spinal cord stimulator; Brain Modulation grew mid-teens globally and mid-twenties in the U.S. on the continued launch of the Percept™ RC deep brain stimulator (DBS) with BrainSense™ technology
  • Received CE Mark for BrainSense™ Adaptive Deep Brain Stimulation (aDBS), a real-time closed-loop system

Medical Surgical Portfolio
The Medical Surgical Portfolio includes the Surgical & Endoscopy (SE) and the Acute Care & Monitoring (ACM) divisions. Revenue of $2.072 billion decreased 1.9% as reported and decreased 0.4% organic, with flat organic result in SE and low-single digit organic decline in ACM.

  • SE results were affected by ongoing stapling segment pressures and a transient change in U.S. distributor buying patterns, partially offset by high-single digit growth in Emerging Markets and high-single digit growth in Advanced Energy on continued adoption of LigaSure™ vessel sealing technology
  • ACM performance included high-single digit declines in Nellcor™ blood oxygen management products on a 30% year-over-year market decline in U.S. respiratory-related hospitalizations in the quarter; this was partially offset by high-single digit growth in Perioperative Complications

Diabetes
Revenue of $694 million increased 8.4% as reported and 10.4% organic.

  • U.S. revenue grew mid-single digits on the continued adoption of the MiniMed™ 780G automated insulin delivery (AID) system, with an increase in the MiniMed™ 780G installed base and strong CGM attachment rates
  • International revenue grew low-double digits on increasing CGM attachment as users upgrade to the Simplera Sync™ sensor

Guidance
Medtronic today reiterated its revenue growth and EPS guidance for FY25.

The company continues to expect FY25 organic revenue growth in the range of 4.75% to 5%. The organic revenue growth guidance excludes the impact of foreign currency and revenue reported as Other. Including Other revenue and the impact of foreign currency exchange, if recent foreign currency exchange rates hold, FY25 revenue growth would be in the range of 3.4% to 3.8%.

The company continues to expect FY25 diluted non-GAAP EPS in the range of $5.44 to $5.50. This includes an estimated -5% impact from foreign currency exchange based on recent rates. The company’s guidance represents FY25 diluted non-GAAP EPS growth in the range of 4.6% to 5.8%.

“EPS came in above the high end of our guidance range. We were pleased with the operational performance of the business this quarter, turning mid-single digit organic growth into leveraged earnings, highlighted by healthy gross margin improvement,” said Gary Corona, Medtronic interim chief financial officer. “Looking ahead, our restored earnings power continues. We will accelerate both top and bottom line growth in Q4, resulting in high-single digit adjusted EPS growth in the back half of our fiscal year.”

Video Webcast Information
Medtronic will host a video webcast today, February 18, at 8:00 a.m. EST (7:00 a.m. CST) to provide information about its businesses for the public, investors, analysts, and news media. This webcast can be accessed by clicking on the Events icon at investorrelations.medtronic.com, and this earnings release will be archived at news.medtronic.com. Within 24 hours of the webcast, a replay of the webcast and transcript of the company’s prepared remarks will be available by clicking on the Events icon at investorrelations.medtronic.com.

Medtronic plans to report its FY25 fourth quarter results on Wednesday, May 21, 2025. For fiscal year 2026, Medtronic plans to report its first, second, third, and fourth quarter results on Tuesday, August 19, 2025, November 18, 2025, February 17, 2026, and Wednesday, May 20, 2026, respectively. Confirmation and additional details will be provided closer to the specific event.

Financial Schedules and Earnings Presentation
The third quarter financial schedules and non-GAAP reconciliations can be viewed by clicking on the Investor Events link at investorrelations.medtronic.com. To view a printable PDF of the financial schedules and non-GAAP reconciliations, click here. To view the third quarter earnings presentation, click here.

 

MEDTRONIC PLC

WORLD WIDE REVENUE(1)

(Unaudited)

THIRD QUARTER

YEAR-TO-DATE

REPORTED

ORGANIC

REPORTED

ORGANIC

(in millions)

FY25

FY24

Growth

Currency
Impact(3)

Adjusted
FY25(4)

Adjusted
FY24(4)

Growth

FY25

FY24

Growth

Currency
Impact(3)

Adjusted
FY25(5)

Adjusted
FY24(5)

Growth

Cardiovascular

$     3,037

$     2,929

3.7 %

$        (38)

$     3,075

$     2,929

5.0 %

$     9,145

$     8,702

5.1 %

$        (62)

$     9,207

$     8,702

5.8 %

Cardiac Rhythm & Heart Failure

1,545

1,470

5.1

(18)

1,563

1,470

6.3

4,659

4,408

5.7

(26)

4,684

4,408

6.3

Structural Heart & Aortic

874

843

3.7

(13)

887

843

5.2

2,610

2,475

5.4

(21)

2,631

2,475

6.3

Coronary & Peripheral Vascular

618

616

0.3

(8)

626

616

1.6

1,876

1,818

3.2

(15)

1,891

1,818

4.0

Neuroscience

2,458

2,355

4.4

(21)

2,478

2,355

5.2

7,226

6,861

5.3

(29)

7,255

6,861

5.7

Cranial & Spinal Technologies

1,250

1,204

3.8

(9)

1,259

1,204

4.6

3,632

3,465

4.8

(15)

3,646

3,465

5.2

Specialty Therapies

732

726

0.8

(8)

740

726

1.9

2,181

2,126

2.6

(10)

2,191

2,126

3.1

Neuromodulation

476

425

12.0

(4)

480

425

12.9

1,413

1,270

11.2

(5)

1,417

1,270

11.6

Medical Surgical

2,072

2,112

(1.9)

(32)

2,104

2,112

(0.4)

6,196

6,219

(0.4)

(50)

6,246

6,219

0.4

Surgical & Endoscopy

1,596

1,616

(1.2)

(26)

1,622

1,616

0.4

4,790

4,803

(0.3)

(40)

4,829

4,803

0.5

Acute Care & Monitoring

476

495

(3.9)

(5)

481

495

(2.8)

1,406

1,416

(0.7)

(10)

1,417

1,416

Diabetes

694

640

8.4

(12)

706

640

10.4

2,027

1,829

10.8

(8)

2,035

1,829

11.3

Total Reportable Segments

8,260

8,035

2.8

(103)

8,363

8,035

4.1

24,593

23,610

4.2

(149)

24,742

23,610

4.8

Other(2)

32

53

(41.1)

(1)

17

164

(89.9)

(3)

TOTAL

$     8,292

$     8,089

2.5 %

$      (104)

$     8,363

$     8,035

4.1 %

$    24,610

$    23,775

3.5 %

$      (152)

$    24,742

$    23,610

4.8 %

(1)

The data in this schedule has been intentionally rounded to the nearest million and, therefore, may not sum. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

(2)

Includes historical operations and ongoing transition agreements from businesses the Company has exited or divested, and specifically for the three months ended July 26, 2024, impacting year-to-date figures, $90 million of incremental Italian payback accruals resulting from the two July 22, 2024 rulings by the Constitutional Court of Italy relating to certain prior years since 2015.

(3)

The currency impact to revenue measures the change in revenue between current and prior year periods using constant exchange rates.

(4)

The three months ended January 24, 2025 excludes $71 million of revenue adjustments related to $32 million of inorganic revenue for the transition activity noted in (2) and $103 million of unfavorable currency impact on the remaining segments. The three months ended January 26, 2024 excludes $53 million of inorganic revenue related to the transition activity noted in (2).

(5)

The nine months ended January 24, 2025 excludes $132 million of revenue adjustments related to $90 million of incremental Italian payback accruals further described in note (2), $106 million of inorganic revenue related to the transition activity noted in (2), and $149 million of unfavorable currency impact on the remaining segments. The nine months ended January 26, 2024 excludes $164 million of inorganic revenue related to the transition activity noted in (2).

 

MEDTRONIC PLC

U.S. REVENUE(1)(2)

(Unaudited)

THIRD QUARTER

YEAR-TO-DATE

REPORTED

ORGANIC

REPORTED

ORGANIC

(in millions)

FY25

FY24

Growth

Adjusted
FY25

Adjusted
FY24

Growth

FY25

FY24

Growth

Adjusted
FY25

Adjusted
FY24

Growth

Cardiovascular

$     1,405

$     1,373

2.4 %

$     1,405

$     1,373

2.4 %

$     4,242

$     4,149

2.2 %

$     4,242

$     4,149

2.2 %

Cardiac Rhythm & Heart Failure

775

745

4.1

775

745

4.1

2,309

2,247

2.8

2,309

2,247

2.8

Structural Heart & Aortic

372

363

2.6

372

363

2.6

1,129

1,087

3.9

1,129

1,087

3.9

Coronary & Peripheral Vascular

258

265

(2.8)

258

265

(2.8)

804

816

(1.4)

804

816

(1.4)

Neuroscience

1,689

1,556

8.5

1,689

1,556

8.5

4,931

4,614

6.9

4,931

4,614

6.9

Cranial & Spinal Technologies

943

875

7.8

943

875

7.8

2,724

2,560

6.4

2,724

2,560

6.4

Specialty Therapies

419

407

3.0

419

407

3.0

1,235

1,202

2.7

1,235

1,202

2.7

Neuromodulation

327

275

19.0

327

275

19.0

972

852

14.1

972

852

14.1

Medical Surgical

893

947

(5.8)

893

947

(5.8)

2,718

2,763

(1.6)

2,718

2,763

(1.6)

Surgical & Endoscopy

623

663

(6.1)

623

663

(6.1)

1,928

1,971

(2.2)

1,928

1,971

(2.2)

Acute Care & Monitoring

269

284

(5.1)

269

284

(5.1)

790

792

(0.2)

790

792

(0.2)

Diabetes

236

224

5.6

236

224

5.6

683

629

8.7

683

629

8.7

Total Reportable Segments

4,223

4,100

3.0

4,223

4,100

3.0

12,573

12,154

3.4

12,573

12,154

3.4

Other(3)

15

20

(26.4)

51

65

(21.3)

TOTAL

$     4,237

$     4,120

2.8 %

$     4,223

$     4,100

3.0 %

$   12,624

$   12,219

3.3 %

$   12,573

$   12,154

3.4 %

(1)

U.S. includes the United States and U.S. territories.

(2)

The data in this schedule has been intentionally rounded to the nearest million and, therefore, may not sum. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

(3)

Includes historical operations and ongoing transition agreements from businesses the Company has exited or divested.

 

MEDTRONIC PLC

INTERNATIONAL REVENUE(1)

(Unaudited)

THIRD QUARTER

YEAR-TO-DATE

REPORTED

ORGANIC

REPORTED

ORGANIC

(in millions)

FY25

FY24

Growth

Currency
Impact(3)

Adjusted
FY25(4)

Adjusted
FY24(4)

Growth

FY25

FY24

Growth

Currency
Impact(3)

Adjusted
FY25(5)

Adjusted
FY24(5)

Growth

Cardiovascular

$     1,632

$     1,556

4.9 %

$        (38)

$     1,670

$     1,556

7.3 %

$     4,904

$     4,552

7.7 %

$        (62)

$     4,966

$     4,552

9.1 %

Cardiac Rhythm & Heart Failure

770

726

6.1

(18)

788

726

8.6

2,350

2,161

8.7

(26)

2,376

2,161

9.9

Structural Heart & Aortic

502

480

4.6

(13)

515

480

7.2

1,482

1,389

6.7

(21)

1,503

1,389

8.2

Coronary & Peripheral Vascular

360

350

2.6

(8)

368

350

4.9

1,072

1,002

7.0

(15)

1,087

1,002

8.5

Neuroscience

769

799

(3.7)

(21)

790

799

(1.1)

2,295

2,248

2.1

(29)

2,324

2,248

3.4

Cranial & Spinal Technologies

307

329

(6.7)

(9)

316

329

(3.9)

907

905

0.3

(15)

922

905

1.9

Specialty Therapies

313

319

(2.0)

(8)

321

319

0.4

947

924

2.4

(10)

957

924

3.5

Neuromodulation

149

150

(0.7)

(4)

153

150

1.8

441

419

5.4

(5)

446

419

6.5

Medical Surgical

1,180

1,164

1.3

(32)

1,211

1,164

4.0

3,478

3,456

0.6

(50)

3,528

3,456

2.1

Surgical & Endoscopy

973

953

2.1

(26)

999

953

4.9

2,862

2,832

1.1

(40)

2,902

2,832

2.5

Acute Care & Monitoring

206

211

(2.3)

(5)

212

211

0.2

616

624

(1.4)

(10)

626

624

0.3

Diabetes

457

416

9.9

(12)

470

416

12.9

1,344

1,200

12.0

(8)

1,351

1,200

12.6

Total Reportable Segments

4,038

3,935

2.6

(103)

4,141

3,935

5.2

12,020

11,456

4.9

(149)

12,169

11,456

6.2

Other(2)

17

34

(49.8)

(1)

(35)

99

(134.8)

(3)

TOTAL

$     4,055

$     3,968

2.2 %

$      (104)

$     4,141

$     3,935

5.2 %

$   11,986

$   11,555

3.7 %

$      (152)

$   12,169

$   11,456

6.2 %

(1)

The data in this schedule has been intentionally rounded to the nearest million and, therefore, may not sum. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

(2)

Includes historical operations and ongoing transition agreements from businesses the Company has exited or divested, and specifically for the three months ended July 26, 2024, impacting year-to-date figures, $90 million of incremental Italian payback accruals resulting from the two July 22, 2024 rulings by the Constitutional Court of Italy relating to certain prior years since 2015.

(3)

The currency impact to revenue measures the change in revenue between current and prior year periods using constant exchange rates.

(4)

The three months ended January 24, 2025 excludes $86 million of revenue adjustments related to $17 million of inorganic revenue for the transition activity noted in (2), and $103 million of unfavorable currency impact on the remaining segments. The three months ended January 26, 2024 excludes $34 million of inorganic revenue related to the transition activity noted in (2).

(5)

The nine months ended January 24, 2025 excludes $183 million of revenue adjustments related to $90 million of incremental Italian payback accruals further described in note (2), $55 million of inorganic revenue related to the transition activity noted in (2), and $149 million of unfavorable currency impact on the remaining segments. The nine months ended January 26, 2024 excludes $99 million of inorganic revenue related to the transition activity noted in (2).

 

MEDTRONIC PLC

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

Three months ended

Nine months ended

(in millions, except per share data)

January 24,
2025

January 26,
2024

January 24,
2025

January 26,
2024

Net sales

$            8,292

$            8,089

$          24,610

$          23,775

Costs and expenses:

Cost of products sold, excluding amortization of intangible assets

2,779

2,782

8,485

8,172

Research and development expense

675

695

2,048

2,060

Selling, general, and administrative expense

2,717

2,673

8,129

7,971

Amortization of intangible assets

416

419

1,243

1,274

Restructuring charges, net

43

20

120

114

Certain litigation charges, net

22

104

105

Other operating (income) expense, net

(5)

17

(38)

(13)

Operating profit

1,646

1,483

4,519

4,091

Other non-operating income, net

(72)

(177)

(403)

(407)

Interest expense, net

179

188

555

517

Income before income taxes

1,540

1,472

4,367

3,982

Income tax provision

237

135

737

936

Net income

1,303

1,337

3,630

3,045

Net income attributable to noncontrolling interests

(9)

(15)

(24)

(23)

Net income attributable to Medtronic

$            1,294

$            1,322

$            3,606

$            3,022

Basic earnings per share

$              1.01

$              0.99

$              2.80

$              2.27

Diluted earnings per share

$              1.01

$              0.99

$              2.79

$              2.27

Basic weighted average shares outstanding

1,282.4

1,329.7

1,286.7

1,330.1

Diluted weighted average shares outstanding

1,286.2

1,331.7

1,290.6

1,332.4

The data in the schedule above has been intentionally rounded to the nearest million.

 

MEDTRONIC PLC

GAAP TO NON-GAAP RECONCILIATIONS(1)

(Unaudited)

Three months ended January 24, 2025

(in millions, except per share data)

Net
Sales

Cost of
Products
Sold

Gross
Margin
Percent

Operating
Profit

Operating
Profit
Percent

Income
Before
Income
Taxes

Net Income
attributable
to
Medtronic

Diluted
EPS

Effective
Tax Rate

GAAP

$  8,292

$   2,779

66.5 %

$     1,646

19.9 %

$    1,540

$       1,294

$     1.01

15.4 %

Non-GAAP Adjustments:

Amortization of intangible assets

416

5.0

416

339

0.26

18.5

Restructuring and associated costs(2)

(4)

46

0.6

46

37

0.03

19.6

Acquisition and divestiture-related items(3)

(1)

28

0.3

28

23

0.02

17.9

Certain litigation charges, net

22

0.3

22

18

0.01

22.7

(Gain)/loss on minority investments(4)

68

52

0.04

22.1

Medical device regulations(5)

(8)

0.1

11

0.1

11

9

0.01

18.2

Certain tax adjustments, net

15

0.01

Non-GAAP

$  8,292

$   2,766

66.6 %

$     2,169

26.2 %

$    2,130

$       1,787

$     1.39

15.7 %

Currency impact

104

61

(0.3)

(4)

(0.4)

(0.01)

Currency Adjusted

$  8,396

$   2,827

66.3 %

$     2,165

25.8 %

$     1.38

Three months ended January 26, 2024

(in millions, except per share data)

Net
Sales

Cost of
Products
Sold

Gross
Margin
Percent

Operating
Profit

Operating
Profit
Percent

Income
Before
Income
Taxes

Net Income
attributable
to
Medtronic

Diluted
EPS

Effective
Tax Rate

GAAP

$  8,089

$   2,782

65.6 %

$     1,483

18.3 %

$    1,472

$       1,322

$     0.99

9.2 %

Non-GAAP Adjustments:

Amortization of intangible assets

419

5.2

419

354

0.27

15.5

Restructuring and associated costs(2)

(12)

0.1

55

0.7

55

46

0.03

16.4

Acquisition and divestiture-related items(3)

(12)

0.1

58

0.7

58

52

0.04

10.3

(Gain)/loss on minority investments(4)

24

24

0.02

Medical device regulations(5)

(18)

0.2

26

0.3

26

21

0.02

19.2

Certain tax adjustments, net(6)

(92)

(0.07)

Non-GAAP

$  8,089

$   2,740

66.1 %

$     2,042

25.2 %

$    2,055

$       1,728

$     1.30

15.2 %

See description of non-GAAP financial measures contained in the press release dated February 18, 2025.

(1)

The data in this schedule has been intentionally rounded to the nearest million or $0.01 for EPS figures, and, therefore, may not sum.

(2)

Associated costs primarily include salaries and wages for employees supporting the restructuring activities, consulting expenses, and asset write-offs.

(3)

The charges primarily include business combination costs, changes in fair value of contingent consideration, and exit of business-related charges.

(4)

We exclude unrealized and realized gains and losses on our minority investments as we do not believe that these components of income or expense have a direct correlation to our ongoing or future business operations.

(5)

The charges represent incremental costs of complying with the new European Union (E.U.) medical device regulations for previously registered products and primarily include charges for contractors supporting the project and other direct third-party expenses. We consider these costs to be duplicative of previously incurred costs and/or one-time costs, which are limited to a specific time period.

(6)

The net tax benefit primarily relates to a change in a Swiss Cantonal tax rate associated with previously established deferred tax assets from intercompany intellectual property transactions and the step up in tax basis for Swiss Cantonal purposes.

 

MEDTRONIC PLC

GAAP TO NON-GAAP RECONCILIATIONS(1)

(Unaudited)

Nine months ended January 24, 2025

(in millions, except per share data)

Net
Sales

Cost of
Products
Sold

Gross
Margin
Percent

Operating
Profit

Operating
Profit
Percent

Income
Before
Income
Taxes

Net Income
attributable
to Medtronic

Diluted
EPS

Effective
Tax Rate

GAAP

$ 24,610

$   8,485

65.5 %

$     4,519

18.4 %

$    4,367

$         3,606

$     2.79

16.9 %

Non-GAAP Adjustments:

Amortization of intangible assets

1,243

4.9

1,243

1,017

0.79

18.3

Restructuring and associated costs(2)

(24)

0.1

154

0.6

154

124

0.10

19.5

Acquisition and divestiture-related items(3)

(17)

15

0.1

15

3

73.3

Certain litigation charges, net

104

0.4

104

86

0.07

17.3

(Gain)/loss on minority investments(4)

41

14

0.01

61.0

Medical device regulations(5)

(27)

0.1

38

0.2

38

30

0.02

21.1

Other(6)

90

0.2

90

0.4

90

70

0.05

22.2

Certain tax adjustments, net(7)

49

0.04

Non-GAAP

$ 24,700

$   8,417

65.9 %

$     6,162

24.9 %

$    6,051

$         4,999

$     3.87

17.0 %

Currency impact

150

(72)

0.5

241

0.9

0.15

Currency Adjusted

$ 24,850

$   8,345

66.4 %

$     6,403

25.8 %

$     4.02

Nine months ended January 26, 2024

(in millions, except per share data)

Net
Sales

Cost of
Products
Sold

Gross
Margin
Percent

Operating
Profit

Operating
Profit
Percent

Income
Before
Income
Taxes

Net Income
attributable
to Medtronic

Diluted
EPS

Effective
Tax Rate

GAAP

$ 23,775

$   8,172

65.6 %

$     4,091

17.2 %

$    3,982

$         3,022

$     2.27

23.5 %

Non-GAAP Adjustments:

Amortization of intangible assets

1,274

5.4

1,274

1,078

0.81

15.4

Restructuring and associated costs(2)

(43)

0.2

237

1.0

237

198

0.15

16.5

Acquisition and divestiture-related items(3)

(24)

0.1

165

0.7

165

149

0.11

9.7

Certain litigation charges, net

105

0.4

105

81

0.06

22.9

(Gain)/loss on minority investments(4)

113

109

0.08

4.4

Medical device regulations(5)

(60)

0.3

88

0.4

88

70

0.05

20.5

Certain tax adjustments, net(8)

282

0.21

Non-GAAP

$ 23,775

$   8,046

66.2 %

$     5,961

25.1 %

$    5,965

$         4,988

$     3.74

16.0 %

See description of non-GAAP financial measures contained in the press release dated February 18, 2025.

(1)

The data in this schedule has been intentionally rounded to the nearest million or $0.01 for EPS figures, and, therefore, may not sum.

(2)

Associated costs primarily include salaries and wages for employees supporting the restructuring activities, consulting expenses, and asset write-offs.

(3)

The charges primarily include business combination costs, changes in fair value of contingent consideration, and exit of business-related charges. The nine months ended January 24, 2025, also include gains related to certain business or asset sales.

(4)

We exclude unrealized and realized gains and losses on our minority investments as we do not believe that these components of income or expense have a direct correlation to our ongoing or future business operations.

(5)

The charges represent incremental costs of complying with the new European Union (E.U.) medical device regulations for previously registered products and primarily include charges for contractors supporting the project and other direct third-party expenses. We consider these costs to be duplicative of previously incurred costs and/or one-time costs, which are limited to a specific time period.

(6)

Reflects the recognition of incremental Italian payback accruals resulting from the two July 22, 2024 rulings by the Constitutional Court of Italy relating to certain prior years since 2015.

(7)

Primarily relates to amortization of previously established deferred tax assets from intercompany intellectual property transactions.

(8)

The net charge primarily relates to an income tax reserve adjustment associated with the June 2023, Israeli Central-Lod District Court decision and the establishment of a valuation allowance against certain net operating losses which were partially offset by a benefit from the change in a Swiss Cantonal tax rate associated with previously established deferred tax assets from intercompany intellectual property transactions and the step up in tax basis for Swiss Cantonal purposes.

 

MEDTRONIC PLC

GAAP TO NON-GAAP RECONCILIATIONS(1)

(Unaudited)

Three months ended January 24, 2025

(in millions)

Net Sales

SG&A
Expense

SG&A
Expense as
a % of Net
Sales

R&D
Expense

R&D
Expense
as a % of
Net Sales

Other
Operating
(Income)
Expense,
net

Other
Operating
(Inc.)/Exp.,
net as a % of
Net Sales

Other Non-
Operating
Income, net

GAAP

$      8,292

$     2,717

32.8 %

$       675

8.1 %

$           (5)

(0.1) %

$           (72)

Non-GAAP Adjustments:

Acquisition and divestiture-related items(2)

(13)

(0.2)

(13)

(0.2)

Medical device regulations(3)

(3)

(Gain)/loss on minority investments(4)

(68)

Non-GAAP

$      8,292

$     2,704

32.6 %

$       672

8.1 %

$         (18)

(0.2) %

$          (140)

Nine months ended January 24, 2025

(in millions)

Net Sales

SG&A
Expense

SG&A
Expense as
a % of Net
Sales

R&D
Expense

R&D
Expense
as a % of
Net Sales

Other
Operating
(Income)
Expense,
net

Other
Operating
(Inc.)/Exp.,
net as a % of
Net Sales

Other Non-
Operating
Income, net

GAAP

$    24,610

$     8,129

33.0 %

$    2,048

8.3 %

$         (38)

(0.2) %

$          (403)

Non-GAAP Adjustments:

Restructuring and associated costs(5)

(10)

(0.1)

Acquisition and divestiture-related items(2)

(40)

(0.3)

42

0.2

Medical device regulations(3)

(10)

Other(6)

90

(Gain)/loss on minority investments(4)

(41)

Non-GAAP

$    24,700

$     8,078

32.7 %

$    2,038

8.3 %

$             4

— %

$          (443)

See description of non-GAAP financial measures contained in the press release dated February 18, 2025.

(1)

The data in this schedule has been intentionally rounded to the nearest million, and, therefore, may not sum.

(2)

The charges primarily include business combination costs, changes in fair value of contingent consideration, exit of business-related charges, and gains related to certain business or asset sales. The nine months ended January 24, 2025, also include gains related to certain business or asset sales.

(3)

The charges represent incremental costs of complying with the new European Union medical device regulations for previously registered products and primarily include charges for contractors supporting the project and other direct third-party expenses. We consider these costs to be duplicative of previously incurred costs and/or one-time costs, which are limited to a specific time period.

(4)

We exclude unrealized and realized gains and losses on our minority investments as we do not believe that these components of income or expense have a direct correlation to our ongoing or future business operations.

(5)

Associated costs primarily include salaries and wages for employees supporting the restructuring activities, consulting expenses, and asset write-offs.

(6)

Reflects the recognition of incremental Italian payback accruals resulting from the two July 22, 2024 rulings by the Constitutional Court of Italy relating to certain prior years since 2015.

 

MEDTRONIC PLC

GAAP TO NON-GAAP RECONCILIATIONS(1)

(Unaudited)

Nine months ended

(in millions)

January 24, 2025

January 26, 2024

Net cash provided by operating activities

$                      4,516

$                      4,010

Additions to property, plant, and equipment

(1,400)

(1,161)

Free Cash Flow(2)

$                      3,116

$                      2,849

See description of non-GAAP financial measures contained in the press release dated February 18, 2025.

(1)

The data in this schedule has been intentionally rounded to the nearest million, and, therefore, may not sum.

(2)

Free cash flow represents operating cash flows less property, plant, and equipment additions.

 

MEDTRONIC PLC

CONSOLIDATED BALANCE SHEETS

(Unaudited)

 

(in millions)

January 24, 2025

April 26, 2024

ASSETS

Current assets:

Cash and cash equivalents

$               1,240

$               1,284

Investments

6,682

6,721

Accounts receivable, less allowances and credit losses of $204 and $173, respectively

6,115

6,128

Inventories

5,610

5,217

Other current assets

2,865

2,584

Total current assets

22,513

21,935

Property, plant, and equipment, net

6,593

6,131

Goodwill

40,819

40,986

Other intangible assets, net

12,184

13,225

Tax assets

3,614

3,657

Other assets

4,250

4,047

Total assets

$             89,973

$             89,981

LIABILITIES AND EQUITY

Current liabilities:

Current debt obligations

$               2,622

$               1,092

Accounts payable

2,286

2,410

Accrued compensation

2,281

2,375

Accrued income taxes

1,125

1,330

Other accrued expenses

3,526

3,582

Total current liabilities

11,840

10,789

Long-term debt

23,985

23,932

Accrued compensation and retirement benefits

1,063

1,101

Accrued income taxes

1,485

1,859

Deferred tax liabilities

452

515

Other liabilities

1,533

1,365

Total liabilities

40,358

39,561

Commitments and contingencies

Shareholders’ equity:

Ordinary shares— par value $0.0001, 2.6 billion shares authorized, 1,283,266,154 and

1,311,337,531 shares issued and outstanding, respectively

Additional paid-in capital

20,910

23,129

Retained earnings

31,317

30,403

Accumulated other comprehensive loss

(2,839)

(3,318)

Total shareholders’ equity

49,387

50,214

Noncontrolling interests

228

206

Total equity

49,615

50,420

Total liabilities and equity

$             89,973

$             89,981

The data in this schedule has been intentionally rounded to the nearest million, and, therefore, may not sum.

 

MEDTRONIC PLC

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Nine months ended

(in millions)

January 24, 2025

January 26, 2024

Operating Activities:

Net income

$                3,630

$                3,045

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

2,021

1,993

Provision for credit losses

96

62

Deferred income taxes

(81)

(250)

Stock-based compensation

340

303

Other, net

14

265

Change in operating assets and liabilities, net of acquisitions and divestitures:

Accounts receivable, net

(184)

(140)

Inventories

(478)

(530)

Accounts payable and accrued liabilities

(157)

(253)

Other operating assets and liabilities

(685)

(485)

Net cash provided by operating activities

4,516

4,010

Investing Activities:

Acquisitions, net of cash acquired

(98)

(74)

Additions to property, plant, and equipment

(1,400)

(1,161)

Purchases of investments

(6,093)

(5,422)

Sales and maturities of investments

6,255

5,142

Other investing activities, net

(111)

(155)

Net cash used in investing activities

(1,447)

(1,670)

Financing Activities:

Change in current debt obligations, net

(1,070)

1,010

Issuance of long-term debt

3,209

Dividends to shareholders

(2,692)

(2,753)

Issuance of ordinary shares

400

206

Repurchase of ordinary shares

(2,961)

(510)

Other financing activities, net

96

(44)

Net cash used in financing activities

(3,018)

(2,091)

Effect of exchange rate changes on cash and cash equivalents

(95)

(170)

Net change in cash and cash equivalents

(44)

80

Cash and cash equivalents at beginning of period

1,284

1,543

Cash and cash equivalents at end of period

$                1,240

$                1,623

Supplemental Cash Flow Information

Cash paid for:

Income taxes

$                1,515

$                1,403

Interest

567

568

The data in this schedule has been intentionally rounded to the nearest million, and, therefore, may not sum.

About Medtronic
Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Galway, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 95,000+ passionate people across more than 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. For more information on Medtronic (NYSE: MDT), visit www.Medtronic.com and follow on LinkedIn.

FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties, including risks related to competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of medical products, government regulation, geopolitical conflicts, changing global trade policies, general economic conditions, and other risks and uncertainties described in the company’s periodic reports on file with the U.S. Securities and Exchange Commission including the most recent Annual Report on Form 10-K of the company. In some cases, you can identify these statements by forward-looking words or expressions, such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “intend,” “looking ahead,” “may,” “plan,” “possible,” “potential,” “project,” “should,” “going to,” “will,” and similar words or expressions, the negative or plural of such words or expressions and other comparable terminology. Actual results may differ materially from anticipated results. Medtronic does not undertake to update its forward-looking statements or any of the information contained in this press release, including to reflect future events or circumstances.

NON-GAAP FINANCIAL MEASURES
This press release contains financial measures, including adjusted net income, adjusted diluted EPS, and organic revenue, which are considered “non-GAAP” financial measures under applicable SEC rules and regulations. References to quarterly or annual figures increasing, decreasing or remaining flat are in comparison to fiscal year 2024, and references to sequential changes are in comparison to the prior fiscal quarter.

Medtronic management believes that non-GAAP financial measures provide information useful to investors in understanding the company’s underlying operational performance and trends and to facilitate comparisons with the performance of other companies in the med tech industry. Non-GAAP net income and diluted EPS exclude the effect of certain charges or gains that contribute to or reduce earnings but that result from transactions or events that management believes may or may not recur with similar materiality or impact to operations in future periods (Non-GAAP Adjustments). Medtronic generally uses non-GAAP financial measures to facilitate management’s review of the operational performance of the company and as a basis for strategic planning. Non-GAAP financial measures should be considered supplemental to and not a substitute for financial information prepared in accordance with U.S. generally accepted accounting principles (GAAP), and investors are cautioned that Medtronic may calculate non-GAAP financial measures in a way that is different from other companies. Management strongly encourages investors to review the company’s consolidated financial statements and publicly filed reports in their entirety. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the financial schedules accompanying this press release.

Medtronic calculates forward-looking non-GAAP financial measures based on internal forecasts that omit certain amounts that would be included in GAAP financial measures. For instance, forward-looking organic revenue growth guidance excludes the impact of foreign currency fluctuations, as well as significant acquisitions or divestitures. Forward-looking diluted non-GAAP EPS guidance also excludes other potential charges or gains that would be recorded as Non-GAAP Adjustments to earnings during the fiscal year. Medtronic does not attempt to provide reconciliations of forward-looking non-GAAP EPS guidance to projected GAAP EPS guidance because the combined impact and timing of recognition of these potential charges or gains is inherently uncertain and difficult to predict and is unavailable without unreasonable efforts. In addition, the company believes such reconciliations would imply a degree of precision and certainty that could be confusing to investors. Such items could have a substantial impact on GAAP measures of financial performance.

-end-

Contacts:

Erika Winkels

Ryan Weispfenning

Public Relations

Investor Relations

+1-763-526-8478

+1-763-505-4626

 

 

FY25_Q3_Earnings_Social_Video_Draft_V9_ID

 

 

PDF – https://mma.prnewswire.com/media/2621979/Earnings_Presentation_FY25Q3_FINAL.pdf
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HUAWEI Mate XT | ULTIMATE DESIGN Debuts Global with HUAWEI Watch Supporting Macao’s Leading E-Wallet, MPay


HONG KONG SAR – EQS Newswire – 18 February 2025 – On February 18, HUAWEI revealed its latest products at a launch event in Malaysia, including the HUAWEI Mate XT | Ultimate Design, while announcing a strategic collaboration with Macau Pass. This partnership integrates MPay—Macao’s leading mobile payment platform—making it one of the first three international e-wallets supporting the HUAWEI watch. This not only represents an innovative step in Macao’s digital payment landscape, but also set a new template for wearable technology applications.

MPay becomes one of the first three international e-wallets supporting the HUAWEI watch
MPay becomes one of the first three international e-wallets supporting the HUAWEI watch
MPay ewallet payment is now available on HUAWEI WATCH GT 4 series, HUAWEI WATCH GT5 series, HUAWEI WATCH FIT3, HUAWIE WATCH D2 and HUAWEI WATCH ULTIMATE. The above mentioned HUAWEI watch series also support GCash (Philippines) and Touch ‘n Go e-Wallet (Malaysia). Users can link their MPay accounts to the HUAWEI watch, allowing them to pay by tapping wrist without using smartphones to pay. This provides significant convenience, especially during outdoor activities and fitness routines. The system utilizes dynamic encryption technology to prevent QR code fraud, ensuring secure and reliable transactions. Visitors from Chinese mainland and Hong Kong can download and register the MPay app, link it to their HUAWEI watch, and enjoy the seamless “tap your wrist to pay” experience in Macao.
Dickson Yang, Director of Huawei Device Business Hong Kong, stated, ” Technology exists to serve humanity. In designing and innovating wearables, we focus on incorporating more practical features into users’ daily lives. As Macao’s leading financial technology company, Macau Pass has established MPay not only as a widely used regional payment platform but also as a way that connects users to diverse services. This collaboration will drive innovation in wearable device payments, with plans to explore further partnerships in various scenarios, aiming to build a comprehensive ecosystem for wearable devices.”
Sun Ho, Chairman and CEO of Macau Pass, said, “We’re honored to partner with global technology leader HUAWEI as one of the first three international e-wallets supporting HUAWEI watch. The first launch of the wearable payment solution in Macao not only enhances payment convenience for users, but also represents a significant innovation in Macao’s financial technology industry and injects fresh energy into Macao’s smart city construction.”
At the product launch event, Macau Pass has been honored with HUAWEI Outstanding Ecosystem Award 2025. As strategic partners, HUAWEI and Macau Pass will leverage their respective strengths in technology and finance to explore new collaboration opportunities, engage in extensive and in-depth partnerships, and offer users a more seamless smart living experience. This will also contribute to the construction of Macao as a smart city and further enhance its global influence.

Hashtag: #AGTech

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

About HUAWEI Device Co., Ltd.

Huawei’s products and services are available in more than 170 countries, and are used by a third of the world’s population. With 14 R&D centers having been set up in the Germany, Sweden, Russia, India and mainland China, Huawei Consumer Business Group is one of Huawei’s three business units and covers smartphones, personal computers and tablets, wearable gears, and cloud services etc. Building on its solid foundation and expertise in the telecommunications business for over 30 years and on the strength of its self-owned global network, its globalized operational capabilities and its worldwide network of cooperation partners, Huawei Consumer Business Group is dedicated to delivering the latest technological advances to consumers around the world. “Make it Possible to Build a Better Connected World”, Huawei Consumer Business Group is committed to living up to its motto at all times.

About Macau Pass S.A.

Macau Pass, a leading financial technology and payment services company in Macao, contributes to the popularization of mobile payments and the construction of a smart city in Macao by providing contactless smart cards, e-wallets, and versatile electronic payment systems. In 2007, Macau Pass introduced the first contactless smart card mCard in Macao, which is now one of the largest contactless smart card and electronic payment system in Macao. In 2015, Macau Pass introduced mobile payment to Macao and created the MPay app in 2018. Today, it is not only one of the most widely used payment applications in Macao but has also developed into a super app that covers financial payments, lifestyle services, and leisure and entertainment scenarios, providing comprehensive digital services for local merchants, residents, and tourists in Macao.

Rooted in Macao and with a vision for global connectivity, Macau Pass is committed to advancing financial technology and smart city initiatives. The company continues to expand its digital service offerings and enhance payment solutions to meet the evolving demands of users in the Greater Bay Area and beyond. Through these efforts, Macau Pass strives to strengthen Macao’s connections with the global community and foster economic and cultural prosperity across the region.

HIGHWAY HOLDINGS APPOINTS FOUR NEW DIRECTORS TO BOARD

Appointments Represent a Comprehensive Restructuring and Rejuvenation of Highway Holdings’ Board of Directors

HONG KONG, Feb. 18, 2025 /PRNewswire/ — Highway Holdings Limited (Nasdaq: HIHO) (the “Company” or “Highway Holdings”) today announced the appointment of four new directors to its Board of Directors, filling prior vacancies. The new directors bring a wealth of experience in multinational business environments, with expertise in finance, manufacturing, entrepreneurship, strategy and M&A. The appointments represent a comprehensive restructuring and rejuvenation of Highway Holdings’ Board of Directors to align with supporting its long-term growth strategy.

Roland Kohl, CEO and Chairman of Highway Holdings, commented, “We are very pleased to welcome these new members to our Board of Directors. This action is part of the company’s ongoing preparation for an upcoming generational transition. The company is in the process of rejuvenating its Board and preparing the 35 year old company (29 years on Nasdaq) for a new era of growth. We sought younger Board members with diverse experience and perspectives. The appointments are the result of a comprehensive search to find and attract the next generation of highly qualified directors with diverse expertise in multinational industries and markets. We look forward to working with our strengthened board and benefitting from our new directors’ contributions, new ideas and insight in support of our long-term growth strategy, as we work to set the Company on a new direction, to achieve growth in any form – a target which the old company during the last years was not achieving. We remain committed to leveraging our resources, extensive business experience, and the new wealth of knowledge that has joined the company, all with the goal of creating value for our shareholders.”

New Board of Director Appointments:

Patrick Michaels, 49 years old, has over 30 years of experience in investment banking, wealth management and strategic advisory. He has served as the Executive Chairman of Zuri-Invest AG since 2002, while also serving as Chairman of Asty Capital AG since 1998. Mr. Michaels previously held positions with UBS AG (Zurich). He studied economics at the University of Zurich, and subsequently studied business, civil and criminal law at the same university, followed by studies at The Colorado School of Mines. Mr. Michaels additionally serves as a director on the boards of GoldQuest Mining Corp. and the charitable organization of Cyprus Seeds. Mr. Michaels was appointed as a Class I director.

Marcus Bagnall, 39 years old, has over 15 years of experience advising multinational organizations on complex legal, regulatory and commercial matters, with a deep understanding of digital transformation, corporate and M&A, supply chain complexities and managing operational legal risks. He currently serves as a Partner at Wiggin LLP (London), having previously held positions at Linklaters LLP (London), Webb Henderson (Sydney), Australian Business Lawyers & Advisors (Sydney), and DLA Piper (Sydney). Mr. Bagnall holds a B.Ec/LLB from the University of New South Wales, a Graduate Diploma in Legal Practice from the College of Law, and an LLM (Corporate, Commercial and Taxation) from the University of New South Wales. He currently serves on the Advisory Board of Eyes of AI. Mr. Bagnall was appointed as a Class I director.

Annie Leung Hoi Ling, 36 years old, has over 12 years of experience in engineering design, manufacturing, and operations. She currently runs an OEM factory she built in 2019 in Vietnam with over  600 employees. Ms. Leung  previously held positions at Artop Group, Good Mark Industrial Limited and Good Mark Industrial Vietnam. She received BEng with honors in product analysis and engineering design from The Hong Kong Polytechnic University. Ms. Leung was appointed as a Class II director.

Brian Chu Chong Tat, 52 years old, has over 28 years of experience in collaborative education and entrepreneurship. His dedication to excellence and commitment to helping students realize their unique strengths has served as the foundation for a highly successful career. He currently works at Ng Clan’s Association Tai Pak Memorial School, having previously served at ECF Saint Canaan College. Mr. Chu also founded a highly successful tennis club on his own initiative, with approximately 100 active members. Mr. Chu holds a Bachelor of Education with Honors from Hong Kong Education University. Mr. Chu was appointed as a Class II director.

Highway Holdings’ Board of Directors now consists of 9 highly qualified members including 2 females, with very diversified knowledge and know how, with different views and opinions, well-balanced age groups, and many different nationalities and cultures, creating a perfect bend between the East and West.  Since the Company intends to expand with additional businesses other than manufacturing in order to reduce reliance on its traditional OEM business, it sought to retain such knowledgeable Board members with numerous new skills and knowledge other than manufacturing.

About Highway Holdings 

Highway Holdings is an international manufacturer of a wide variety of quality parts and products for blue chip equipment manufacturers based primarily in Germany. Highway Holdings’ administrative offices are located in Hong Kong and its manufacturing facilities are located in Yangon, Myanmar and Shenzhen, China. For more information visit website www.highwayholdings.com.

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements, which involve risks and uncertainties, including but not limited to economic, competitive, governmental, political and technological factors affecting the company’s revenues, operations, markets, products and prices, and other factors discussed in the company’s various filings with the Securities and Exchange Commission, including without limitation, the company’s annual reports on Form 20-F.

MYKAPITAL OFFICIALLY LAUNCHES WITH STRATEGIC PARTNERSHIPS TO DIGITISE INTEREST SCHEME MANAGEMENT

KUALA LUMPUR, Malaysia, Feb. 18, 2025 /PRNewswire/ — In a landmark move towards digitalising interest scheme management, MyKapital Platform Sdn Bhd, a subsidiary of Masverse Holdings Sdn Bhd (a Malaysian blockchain ecosystem builder), officially launched today at Menara SSM @ Central, Kuala Lumpur.

Official launch of MyKapital Platform.  From left,  Founding Partner of Enho Grace & Partners - Mr Enho Lim;  CEO of Masverse Holdings Sdn Bhd  - Mr Chew Kian Kok;  Founding Chairman of FISOM - Mr CT Choo;  Managing Director of MyKapital - Mr SJ Koay;  Founder and CEO of Wi Edu Sdn Bhd - Mr Elven Choo Siew Horng
Official launch of MyKapital Platform. From left, Founding Partner of Enho Grace & Partners – Mr Enho Lim; CEO of Masverse Holdings Sdn Bhd – Mr Chew Kian Kok; Founding Chairman of FISOM – Mr CT Choo; Managing Director of MyKapital – Mr SJ Koay; Founder and CEO of Wi Edu Sdn Bhd – Mr Elven Choo Siew Horng

The launch was marked by three significant agreements:

  1. Exchange of a Memorandum of Understanding for Collaboration between MyKapital and the Federation of Internet Scheme Operators Malaysia Berhad (FISOM).
  2. Exchange of a Service Agreement for Digitalised Interest Scheme Investors Relations between WI Edu Sdn Bhd and MyKapital.
  3. Exchange of a Partnership Agreement for Compliance and Consultation Support between MyKapital and Enho Grace & Partners (EGP).

MyKapital, an innovative digital platform, is designed to facilitate the subscription and management of approved interest schemes through secure and compliant processes. This industry-led initiative aligns with Suruhanjaya Syarikat Malaysia’s (SSM) Interest Scheme Blueprint and Malaysia’s vision of fostering a more robust, technology-driven financial landscape.

According to Mr. Koay Seong Jiann, Managing Director of MyKapital,

“The official launch of MyKapital is a significant milestone in revolutionising interest scheme management. By leveraging digital solutions, we aim to enhance trust, transparency, security, and efficiency in interest scheme investor relations while providing seamless subscription management for all stakeholders. The collaboration with industry stakeholders creates opportunities to digitalise existing and future interest schemes, including the tokenisation of interest schemes, which will enable a secondary market leveraging Masverse’s blockchain technology.”

Strengthening Malaysia’s Interest Scheme Landscape

As part of the launch, three key partnerships were formalised:

1. Memorandum of Understanding: MyKapital x FISOM

  • The MoU with FISOM underscores a shared commitment to promoting best practices in interest scheme operations. By fostering collaboration and knowledge exchange, this partnership aims to strengthen industry governance, compliance, and innovation.
  • “FISOM is happy to collaborate with MyKapital to improve SME funding options via the digital interest scheme ecosystem in Malaysia and provide a safe space for investors.” said [Founding Chairman of FISOM, Mr. Choo Chin Thye].

2. Exchange of Service Agreement: MyKapital x WI Edu

  • WI Edu, Malaysia’s first education interest scheme provider, will integrate MyKapital’s blockchain-based platform to manage its WI Hybrid Investment Scheme. This collaboration ensures secure transactions, real-time performance tracking, and enhanced investor relations.
  • “This partnership with MyKapital is crucial in digitalising our investment schemes, ensuring greater transparency and efficiency for our stakeholders,” said [CEO of WI Edu Sdn Bhd, Mr. Elven Choo Siew Horng].

3. Exchange of Partnership Agreement: MyKapital x Enho Grace & Partners (EGP)

  • Enho Grace & Partners, a leading law firm specialising in corporate advisory, regulatory compliance, and interest schemes, will provide legal and compliance support for MyKapital’s platform. This partnership ensures adherence to the Interest Schemes Act 2016 and enhances MyKapital’s regulatory framework for its clients.
  • “SSM Interest Schemes are reshaping how businesses access capital. Our role is to ensure compliance while unlocking opportunities for growth,” said  [Founding Partner of EGP, Mr. Lim Enho].

Driving Digital Transformation in Interest Scheme Management

With the adoption of MyKapital’s platform, the collaboration between WI Edu, MyKapital, FISOM, and EGP paves the way for a new era of digital compliance and investor transparency. The agreements highlight:

  • Enhanced Security & Transparency: Utilisation of blockchain technology to secure transactions and automate reporting.
  • Regulatory Compliance: A streamlined approach to managing interest schemes within the framework set by the Suruhanjaya Syarikat Malaysia (SSM).
  • Investor Confidence: Providing seamless digital tools for subscribers to track and manage their investments.

These collaborations reinforce Malaysia’s position as a leader in financial innovation and provide a solid foundation for future advancements in the digitalisation of financial schemes.

About MyKapital Platform Sdn Bhd

MyKapital Platform Sdn Bhd, a subsidiary of Masverse Holdings Sdn Bhd, is Malaysia’s pioneering digital platform for managing approved interest schemes. Designed to enhance transparency and investor relations, MyKapital provides a subscription management system, ensuring seamless tracking, reporting, and compliance. For more information, please visit www.mykapital.my.

PharmaBlock Launches Commercial GMP Workshop 503 at Zhejiang Site

NANJING, China, Feb. 18, 2025 /PRNewswire/ — PharmaBlock Sciences (Nanjing), Inc. (Stock code: 300725.SZSE) has announced the official launch of its commercial GMP Workshop 503 (W503) at PharmaBlock Zhejiang. The new workshop significantly enhances production capacity and further refines the high-standard GMP manufacturing system, along with advanced automation and the lean operation model, thereby bolstering the company’s capabilities in late-phase and commercial manufacturing.

Addressing Increasing Commercial Manufacturing Demands

W503 is specifically designed to cater the demands of late-stage clinical and commercial manufacturing. With a total capacity of 190.6 m³, the workshop is equipped with reactors ranging from 500L to 8,000L, and two clean production lines, enabling full-process production from Registration Starting Materials (RSMs), intermediates to Active Pharmaceutical Ingredients (APIs). The adoption of a modular equipment layout allows for flexible adaptation to multiple concurrent projects and rapid project switching without the risk of cross-contamination, thereby improving operational efficiency.

Additionally, W503 is equipped with a fully enclosed feeding and discharging system that meets the stringent OEB4-level protection standards, ensuring the safe production of highly potent compounds. The commissioning of W503 has expanded the total reactor volume at PharmaBlock Zhejiang to 630 m³, substantially boosting the site’s commercial production capacity and providing robust support for efficient and high-quality manufacturing.

Elevating the High-Specification GMP Production System

W503 is built upon a foundation of high-specification hardware and precise process control to ensure that production processes and product quality meet the international regulatory requirements. The clean area of the workshop integrates advanced spray dryer and jet miller, which fulfill the needs of commercial-scale production, and ensure product stability and consistency.

Furthermore, the workshop incorporates precise temperature and pressure control technologies into the production process, combined with automated batch production and clean-in-place procedures. This comprehensive approach ensures that both the production process and product quality adhere to the high standards of GMP.

Spray Drying Equipment
Spray Drying Equipment

Enhancing Production Safety and Efficiency Through Automation

W503 has implemented industry-leading process interlock modules that monitor production process parameters in real-time, ensuring the accuracy and safety of the process flow while reducing manual intervention and significantly enhancing overall production safety. The workshop is also equipped with an advanced automatic inertization system that covers reactors, centrifuges, and separation equipment, effectively mitigating risks associated with organic solvents and combustible dust. Automated modes for rinsing, purging, and discharging further ensure efficient production.

Achieving Economic and Environmental Benefits through Lean Management

In line with the principles of green manufacturing, W503 has adopted a series of measures to achieve efficient and environmentally friendly production. Through process optimization, upgraded utility systems, and the introduction of energy-efficient equipment, W503 has significantly reduced operational energy consumption and hazardous waste emissions. Additionally, an advanced digital energy dashboard monitors real-time energy usage at key production nodes, enabling dynamic adjustments to production strategies for cost-effective and eco-friendly operations. This not only enhances the economic benefits of commercial production, but also greatly improves environmental benefits, driving sustainable development.

PharmaBlock Zhejiang now operates six GMP workshops for RSMs, intermediates and APIs, capable of providing end-to-end services from early CMC development to commercial supply for global clients. In recent years, PharmaBlock has seen a steady increase in the delivery of late-stage clinical and commercial projects, successfully helping multiple clients obtain regulatory approvals for their APIs. Its quality management system and commercial capabilities have garnered increasing international recognition.

Dr. Minmin Yang, Chairman of PharmaBlock, said, “The launch of W503 marks a comprehensive upgrade in our commercial capabilities. We are committed to not only expanding our production capacity but also leveraging technological innovation and efficient management to shorten drug launch cycles and reduce costs for our partners. Moving forward, we will continue to expand our global footprint, promote low-carbon manufacturing, and drive sustainable development, bringing our added value to the innovation and development of the global pharmaceutical industry.”

Hello Group to Report Fourth Quarter and Fiscal Year 2024 Results on March 12, 2025

BEIJING, Feb. 18, 2025 /PRNewswire/ — Hello Group Inc. (NASDAQ: MOMO) (the “Company”), a leading player in mainland China’s online social networking space, today announced that it will release its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024 before U.S. markets open on Wednesday, March 12, 2025.

Hello Group’s management will host an earnings conference call on Wednesday, March 12, 2025, at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing / Hong Kong Time on the same day).

Preregistration Information

Participants can register for the conference call by navigating to https://s1.c-conf.com/diamondpass/10045617-nl4uc8.html. Upon registration, each participant will receive details for the conference call, including dial-in numbers, conference call passcode and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin.

A telephone replay of the call will be available after the conclusion of the conference call through March 19, 2025. The dial-in details for the replay are as follows:

U.S. / Canada:

1-855-883-1031

Hong Kong:

800-930-639

Passcode:

10045617

Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of Hello Group’s website at https://ir.hellogroup.com.

About Hello Group Inc.

We are a leading player in mainland China’s online social networking space. Through Momo, Tantan and other properties within our product portfolio, we enable users to discover new relationships, expand their social connections and build meaningful interactions. Momo is a mobile application that connects people and facilitates social interactions based on location, interests and a variety of online recreational activities. Tantan, which was added into our family of applications through acquisition in May 2018, is a leading social and dating application. Tantan is designed to help its users find and establish romantic connections as well as meet interesting people. Starting from 2019, we have incubated a number of other new apps, such as Hertz, Soulchill, Duidui and Tietie, which target more niche markets and more selective demographics.

For investor and media inquiries, please contact:

Hello Group Inc.

Investor Relations
Phone: +86-10-5731-0538
Email: ir@hellogroup.com

Christensen

In China
Ms. Xiaoyan Su
Phone: +86-10-5900-1548
E-mail: Xiaoyan.Su@christensencomms.com 

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com