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Autozi Internet Technology (Global) Ltd. Announces the Execution of Securities Purchase Agreement

BEIJING, Jan. 31, 2025 /PRNewswire/ — Autozi Internet Technology (Global) Ltd. (“Autozi” or the “Company”) (NASDAQ: AZI), one of the leading and fast-growing lifecycle automotive service providers in China, today announced that it entered into a definitive Securities Purchase Agreement (the “Agreement”) with an institutional investor (the “Buyer”) on January 27, 2025, pursuant to which the Company issued to the Buyer a senior unsecured convertible note (the “Initial Note”) and warrant to purchase additional senior unsecured convertible notes (the “Warrants” and together with the Initial Note, the “Notes”). The closing of the transaction contemplated by the Agreement occurred on January 27, 2025 (the “Closing Date”). The transaction will result in gross proceeds to the Company of $27.5 million. Proceeds from the transaction will enhance Autozi’s financial flexibility to support its strategic growth initiatives and expand operational capacity.

Dr. Houqi Zhang, Founder, Chairman, and Chief Executive Officer of Autozi, commented. “This financing represents a significant milestone for Autozi as we strengthen our foundation for sustainable growth and innovation. The capital raised will enable us to execute on three strategic priorities. First, we will actively pursue targeted mergers and acquisitions within China’s auto parts supply chain to achieve end-to-end coverage, enhancing our competitive edge and efficiency. Second, we are committed to building a cross-border supply chain platform, which will serve as the cornerstone for our global expansion and overseas market penetration. Third, we will further increase investment in R&D to advance our digital and intelligent platforms ensuring our technology remains at the forefront of industry trends. These initiatives reflect our vision to lead the automotive services sector through innovation, scale, and global reach, ultimately delivering sustainable value for our shareholders and partners.”

Under the Agreement, the Company will issue an additional Note in the principal amount of $500,000 on the effectiveness date of the registration statement registering the Class A ordinary shares of the Company (the “Ordinary Shares”) underlying the Notes. The Warrants are exercisable for additional Notes in an aggregate principal amount of up to $24,000,000 every 90 days following the Closing Date. The Notes are convertible into the Company’s Ordinary Shares at a conversion price determined based on the closing sale price of the Company’s Ordinary Shares at the time of conversion, subject to adjustment as provided in the Notes.

The Notes and Warrants were offered pursuant to exemptions from registration under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 506(b) of Regulation D. The Notes, Warrants, and underlying Ordinary Shares have not been registered under the Securities Act or applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption. In connection with the transaction, the Company entered into a registration rights agreement, pursuant to which it has agreed to file a registration statement with the U.S. Securities and Exchange Commission (“SEC”) to register the resale of the Ordinary Shares issuable upon conversion of the Notes. The Company plans to file a Report of Foreign Private Issuer on Form 6-K with the SEC, which will include details of the Agreement, Notes, Warrants, and the Registration Rights Agreement.

Pryor Cashman LLP acted as legal counsel to the Buyer, and Sichenzia Ross Ference Carmel LLP served as U.S. legal counsel to the Company.

About Autozi Internet Technology (Global) Ltd.
Autozi Internet Technology (Global) Ltd. is a leading, fast-growing provider of lifecycle automotive services in China. Founded in 2010, Autozi offers a comprehensive range of high-quality, affordable, and professional automotive products and services through both online and offline channels across the country. Leveraging its advanced online supply chain cloud platform and SaaS solutions, Autozi has built a dynamic ecosystem that connects key participants across the automotive industry. This interconnected network enables more efficient collaboration and streamlined processes throughout the entire supply chain, positioning Autozi as a key driver of innovation and growth in the automotive services sector.

Forward-Looking Statements
All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends 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,” “potential,” “continue,” “is/are likely to” or other similar expressions. These forward-looking statements speak only as of the date of this announcement, and the Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, as actual results may be impacted by a variety of factors, including without limitation, changes in macroeconomic conditions, industry dynamics, competitive landscape, regulatory requirements, the Company’s ability to successfully implement its growth strategies and effectively manage costs and operations, and unforeseen business challenges. The Company encourages investors to review other factors that may affect its future results in the Company’s registration statement, periodic reports, including its Annual Report on Form 20-F and Current Report on Form 6-K, and in its other filings with the SEC.

Contact Information
The Blueshirt Group
Jack Wang
Email: Jack@blueshirtgroup.co

SHEIN Conducted Over Two Million Product Safety Tests in 2024, Reinforces Commitment to Product Safety and Sustainability

SINGAPORE, Jan. 31, 2025 /PRNewswire/ — SHEIN today announced that it conducted over two million product safety tests in 2024, reinforcing its ongoing commitment to ensuring high standards in product quality and consumer safety. The tests were conducted in collaboration with leading third-party testing agencies such as Intertek, SGS, Bureau Veritas (BV), and TÜV, as well as at a CNAS-accredited laboratory.

In 2025, SHEIN plans to invest more than US$15 million to further strengthen its product safety testing and compliance protocols.

A Continuous Multi-Faceted Product Safety System

SHEIN has built and implemented a multi-faceted product safety protocol to ensure product compliance with applicable laws and regulations, as well as to SHEIN’s own standards of product safety. The system, which spans before, during, and after the sale process, is focused on overseeing product safety and ensuring that products meet compliance requirements: 

1. Standards and Policies: SHEIN vendors are required to comply with the applicable product safety laws and regulations in the countries we operate in, as well as the controls and standards that SHEIN has put in place, such as SHEIN’s Restricted Substances List (RSL), and SHEIN’s codes of conduct for vendors.

2. Documentation and Certification Review: Vendors are required to submit documentation for products from categories such as electronics, children’s toys, children’s products, baby products, cosmetics, medical devices, light industry products, personal protective equipment (PPE), and textiles with specific regulatory requirements for SHEIN’s system checks and manual reviews. Simultaneously, SHEIN is dedicated to providing comprehensive education and training for vendors, in order to continually improve their understanding of product compliance requirements.

3. Monitoring and Testing: Product safety tests, including chemical tests, are carried out throughout the sales cycle, in collaboration with leading third-party testing agencies such as Intertek, SGS, Bureau Veritas (BV), and TÜV, as well as at a CNAS-accredited laboratory. In 2024, SHEIN performed more than two million tests, including chemical tests, with third-party these agencies, as well as a CNAS-accredited laboratory.

4. Dynamic Evaluations: SHEIN conducts dynamic evaluations of vendors based on multi-dimensional aspects such as the product testing pass rate and negative feedback rate. Once a vendor’s performance is assessed to be non-compliant or in violation of our requirements, SHEIN will take measures against the vendor such as removing the product listing, vendor point deductions, putting in place re-order restrictions, or even termination of the partnership, depending on the severity of the case. Upon learning of any claim against a product, SHEIN immediately removes the product as a precautionary measure while we conduct an investigation.

Over the last year, the company has terminated its engagement with more than 260 sellers on its marketplace who did not meet compliance requirements. 

“Ensuring that our customers can shop with peace of mind is paramount at SHEIN,” said Leonard Lin, President of EMEA and Global Head of Public Affairs for SHEIN. “From design to delivery, we all work to protect our customers at every step of the process. We have continued to expand our rigorous testing efforts, working with some of the world’s top global testing agencies, to ensure that our products meet the highest standards and we continue to invest in enhancing our approach.”

Advancing Corporate Responsibility Initiatives

As part of its broader commitment to corporate responsibility, SHEIN has also recently announced several key initiatives:

1. Appointment of Mustan Lalani as Head of Global Sustainability

SHEIN has appointed Mustan Lalani as its Head of Global Sustainability, further strengthening its commitment to driving responsible business practices across its supply chain. Mustan will lead SHEIN’s efforts to help address the challenges that face the entire industry through innovation and technology, as part of our evoluSHEIN roadmap, SHEIN’s comprehensive strategy for addressing social and environmental issues.

2. Breakthrough in Polyester Recycling with Donghua University

SHEIN earlier announced the development of an innovative polyester recycling process that accepts a wider range of feedstock materials, including both pre- and post-consumer textile waste and PET bottles. This technology also improves the cost efficiency of recycled polyester for SHEIN compared to the recycled polyester options currently used in its products. The technology, developed in partnership with Donghua University, chemically breaks down, refines and reconstitutes polyester at the polymer level, allowing it to be recycled repeatedly without compromising the material properties of the resulting polyester fibres. SHEIN is working with selected fibre manufacturers to scale up production, with the first facility set to begin large-scale operations in June 2025, targeting an annual production output of 3,000 metric tons of recycled polyester fibres.

3. Establishment of the SHEIN Foundation & €5M Commitment to Africa Collect Textiles (ACT)

SHEIN has also recently announced the launch of the SHEIN Foundation, alongside a commitment of €5 million (US$5.30 million) to the Africa Collect Textiles (ACT) Foundation, the charitable arm of ACT. The SHEIN Foundation is a non-profit organization that aims to foster more inclusive and sustainable communities in places where SHEIN operates and will be the philanthropic arm of the SHEIN Group. ACT is a social enterprise that has developed a used textiles collection and recycling pilot program in Kenya.

Through these initiatives, SHEIN continues to invest in responsible business practices, product innovation, and industry-leading sustainability efforts to make fashion accessible, safe, and environmentally conscious for its global community.

 “At SHEIN we are prioritising the decarbonization of our supply chain, but also working on the adoption and promotion of new technologies and processes that have a lower environmental impact and enhance circularity. Mustan brings a wealth of experience in these areas from his previous roles, and will significantly strengthen our bench as we continue our journey to become a more sustainable and responsible business. He will lead our efforts to help solve industry-wide challenges, through innovation and technology, as part of our evoluSHEIN roadmap, SHEIN’s comprehensive strategy for addressing social and environmental challenges,” said Leonard Lin, President of EMEA and Global Head of Public Affairs for SHEIN.

For more information, visit www.sheingroup.com 

Grand Copthorne Waterfront Hotel Singapore Partners with the Royal Thai Embassy Singapore for Phuket Flavourscape Buffet

SINGAPORE, Jan. 31, 2025 /PRNewswire/ — Grand Copthorne Waterfront Hotel Singapore is pleased to announce its partnership with the Royal Thai Embassy Singapore for the Phuket Flavourscape Buffet, a distinctive dining experience celebrating Thailand’s rich culinary heritage. The buffet, launching on 15 February 2025, will feature the vibrant flavours of Phuket.

Phuket Flavourscape Buffet at Grand Copthorne Waterfront Hotel Singapore
Phuket Flavourscape Buffet at Grand Copthorne Waterfront Hotel Singapore

Her Excellency Mrs. Ureerat Chareontoh, the Ambassador of the Royal Thai Embassy Singapore, expressed: “Enjoy the wonder of Thai cuisine from Phuket where flavours come together in perfect harmony.”

The Phuket Flavourscape Buffet is a collaboration between David Toh, Executive Chef of Grand Copthorne Waterfront, and Head Chef Witoon Kamonphun of Beast & Butterflies from M Social Hotel Phuket. Chef David, with over 35 years of experience, is known for his passion for delivering top-notch dishes, while Chef Witoon brings a creative twist to authentic Thai flavours. Together, they have created an indulgent experience, with a menu sure to excite the senses. 

“We are truly excited to introduce flavours from around the world at our one-stop all-day destination, Food Capital. Partnering with M Social Hotel Phuket allows us to deliver a truly authentic experience for our diners, blending Thailand’s bold flavours and vibrant energy with the warm hospitality Grand Copthorne Waterfront is known for.” shares Mr. Andrew Tan, General Manager of Grand Copthorne Waterfront.

“Our goal was to bring the essence of Thai cooking to life in a way that is both authentic and approachable for guests from around the world,” shares Mr. Pjey Mayandi, General Manager of M Social Hotel Phuket.

Food Capital transforms into a Thai haven, featuring live stations and a delectable spread of authentic dishes such as Tom Yum Goong, the iconic spicy prawn soup and Kao Niew Ma Moung, sticky rice with mango. The adventurous can choose from two intriguing high-protein options: the Silkworm Thai Basil Pork Pizza and the Crispy Cricket Onion Quiche, offering a unique taste of Thailand’s night markets. Enjoy a Thai-inspired drink by the hotel’s residential Thai mixologist, Taenny Mookeai, alongside beverage partners like Chang Beer and Tarsier Spirit, complementing the dining experience.

Price:

  • Lunch (Monday to Saturday):
    • Adults: $72++
    • Children (aged 6-11): $36++
  • Dinner (Sunday to Thursday):
    • Adults: $102++
    • Children (aged 6-11): $51++
  • Dinner (Friday and Saturday):
    • Adults: $112++
    • Children (aged 6-11): $56++

For reservations, call +65 8168 1539/+65 6233 1338 or book here.

Students from Thailand Win ‘Best in World’ Cambridge Schools Science Competition

Winners developed innovative solution to address water scarcity

CAMBRIDGE, England, Jan. 31, 2025 /PRNewswire/ — The International Education group of Cambridge University Press & Assessment (Cambridge) is pleased to announce that the 2024 ‘Best in World’ winner of the prestigious Cambridge Science Competition is a team from Anglo Singapore International School in Thailand.


Cambridge Science Competition 2024 – what impressed the head judge?

The team—comprising ZiKe Huang, Tan Hiranwat, Jintaporn Seemunta, and Kunathorn Jesdaviriya—developed an atmospheric moisture condensation system to address water scarcity, a critical global challenge. Their innovative project harnessed water from the atmosphere using a refrigeration pump, cooling module, and collection surface. Once the system reached the air’s dew point, water condensed and was collected and air-purified to reduce contamination.

‘Best in World’ winners of the Cambridge Science Competition from Anglo Singapore International School,Thailand
‘Best in World’ winners of the Cambridge Science Competition from Anglo Singapore International School,Thailand

The water generated had a neutral pH level of 7, low salt concentration, and a mineral content comparable to distilled water with no detectable bacterial contamination. This led the team to conclude that atmospheric moisture condensation has potential for generating drinking water.

Rod Smith, Group Managing Director for International Education at Cambridge, highlighted the significance of the students’ achievements: “These projects exemplify how young minds can harness science to solve pressing challenges like sustainability. Cambridge remains committed to inspiring learners to shape the future and create a better world.”

Team member, Kunathorn Jesdaviriya (Ken), said: “Through this project, I realised the immense scale of water scarcity worldwide; ensuring access to clean water is a global sustainability challenge set by the United Nations. While our project may not immediately solve the problem, I am hopeful that one day, someone from our team will contribute to a lasting solution.”

‘Best in World’ winners of the Cambridge Science Competition from Anglo Singapore International School,Thailand
‘Best in World’ winners of the Cambridge Science Competition from Anglo Singapore International School,Thailand

Mr. Sajjath Ahmed, Teacher Mentor at Anglo Singapore International School, said: “Seeing the growth of these students as young scientists has been incredibly rewarding. They have become more confident, collaborative, and passionate, creating something truly impactful.”

The competition, which saw more teams enter than ever before (308), is aimed at students, aged 14 to 16, working in small teams to conduct independent scientific investigations as an extracurricular activity, complementing their Cambridge IGCSE or Cambridge O Level studies. The aim of the competition is to foster a passion for science and equip students with the practical skills to address real-world issues.  

Qudian Inc. Announces Appointment of Auditor

XIAMEN, China, Jan. 31, 2025 /PRNewswire/ — Qudian Inc. (“Qudian” or “the Company” or “We”) (NYSE: QD), a consumer-oriented technology company, today announced the appointment of Marcum Asia CPAs LLP (“Marcum Asia”) as the Company’s new independent registered public accounting firm.

The Company previously announced the appointment of BDO China Shu Lun Pan Certified Public Accountants LLP (“BDO”) as its independent registered public accounting firm on September 6, 2024. After the announcement, BDO informed the Company’s management and audit committee that, due to constraints on its internal resources, BDO may not be able to complete its audit work according to the timetable proposed by the Company. After further discussions, the Company decided to revoke BDO’s appointment and BDO accepted the revocation. The revocation of BDO’s appointment was not as a result of any disagreement between the Company and BDO on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures.

After carefully considering additional candidates, the Company has appointed Marcum Asia CPAs LLP (“Marcum Asia”) to succeed Ernst & Young Hua Ming LLP (“EY”), which previously was the independent auditor providing audit services to the Company. The appointment of Marcum Asia was made after careful consideration and was approved by the Audit Committee of the Company.

During the Company’s two most recent fiscal years ended December 31, 2023, and during the subsequent interim period prior to January 31, 2025, neither the Company nor anyone acting on its behalf consulted with Marcum Asia on either (a) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s financial statements, and neither a written report nor oral advice was provided to the Company by Marcum Asia that Marcum Asia concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue, or (b) any matter that was the subject of a disagreement, as that term is defined in Item 16F(a)(1)(iv) of Form 20-F (and the related instructions thereto) or a reportable event as set forth in Item 16F(a)(1)(v) of Form 20-F.

The Company is working closely with EY and Marcum Asia to ensure a seamless transition.

About Qudian Inc.

Qudian is a consumer-oriented technology company. The Company historically focused on providing credit solutions to consumers. Qudian is exploring innovative logistics services to satisfy consumers’ demand for e-commerce transactions by leveraging its technology capabilities.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the expectation of its collection efficiency and delinquency, contain forward-looking statements. Qudian may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Qudian’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Qudian’s goal and strategies; Qudian’s expansion plans; Qudian’s future business development, financial condition and results of operations; Qudian’s expectations regarding demand for, and market acceptance of, its products; Qudian’s expectations regarding keeping and strengthening its relationships with customers, business partners and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Qudian’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Qudian does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China:
Qudian Inc.
Tel: +86-592-596-8208
E-mail: ir@qudian.com

Nationwide Raid Nets 1.44 Million Illegal Tobacco Packs in 2024

Nationwide Raid Nets 1.44 Million Illegal Tobacco Packs in 2024
The seized illegal tobaccos (photo credit: Lao National Radio)

On 29 January, the Ministry of Industry and Commerce reported the seizure of over 1.44 million packs of counterfeit tobacco products in 2024.

Traditionally-crafted Bamboo Brooms Earn National Recognition

Bamboo brooms of Kang village (photo credit: Phonesavanh Manisy)

Broom-making is more than just a craft in Bokeo’s Kang village, it’s a long standing tradition that has been passed down for generations. 

Vientiane Launches Sustainable Tourism Initiative with Innovative Technology for Growth

Patuxai in Vientiane Capital (Photo: Passport the World)

The Lao government has announced plans to boost tourism in Vientiane Capital with the theme “Vientiane’s Sustainable Tourism,” The initiative aims to incorporate innovative technologies into tourism management and create new attractions for visitors.

This project is a collaboration between the Department of Information, Culture, and Tourism of Vientiane Capital and Packon Company Limited from Thailand. A Memorandum of Understanding (MOU) was signed on 28 January to formalize the partnership and pave the way for tourism development in the capital.

A key focus will be conducting research to explore opportunities for expanding activities at existing and potential new attractions within the city. This includes studying the feasibility of sustainable tourism practices and developing a viable business model.

In addition to tourism, the project will address infrastructure improvements. Plans include enhancing water and clean energy management to support the growing needs of the tourism industry. Efforts will focus on reliable electricity and oil supplies, as well as efficient water management systems for drinking water, drainage, and wastewater treatment.

The initiative will also advance communication technologies, such as the implementation of 5G networks and expanded Wi-Fi coverage, to improve data management for city services. This will contribute to safer urban areas and better health standards for residents.

Further improvements will target key aspects of city infrastructure, including road construction, traffic management, transportation systems, waste management, and flood control measures.

In addition, the project aims to enhance tourist satisfaction by integrating technology to create a more seamless experience. Mobile applications will be developed to assist tourists, service providers, and business owners in areas such as entry and exit systems, tour guides, transportation, restaurants, shopping, and accommodations. These innovations are intended to meet international quality standards while preserving the unique aspects of Vientiane’s tourism offerings.

The initiative will also focus on developing new attractions along the Mekong River and at That Luang Lake, including upgrading the night market along the river, creating pedestrian-friendly walking streets, and enhancing other popular tourist sites. Electric tour buses will be introduced as a new symbol of Vientiane Capital, contributing to a greener, more sustainable tourism experience.