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Over 4800 Lao Nationals Set to Face Deportation from the United States

More than 4,000 Lao nationals are among the over 1.4 million individuals in the United States with final deportation orders but not currently detained
US President Donald Trump speaks to journalists in the Oval Office of the White House in Washington, DC, on January 30, 2025. (Photo by ROBERTO SCHMIDT / AFP)

More than 4,000 Lao nationals are among the over 1.4 million individuals in the United States with final deportation orders but not currently detained, according to a November report by the United States’ Immigration and Customs Enforcement (ICE).

Ministry of Health pilots text message vaccine reminders for childhood immunizations

Launches text message vaccine reminders for childhood immunizations ceremony

On 30 January, the Ministry of Health celebrated the start of a 12-month pilot that will see text message (SMS) reminders sent to parents soon after their child turns 1-year-old.  

BRI Officially Launches BRI UMKM EXPO(RT) 2025 and Microfinance Outlook to Empower Indonesia’s MSMEs

TANGERANG, Indonesia, Jan. 31, 2025 /PRNewswire/ — PT Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) officially launched BRI UMKM EXPO(RT) 2025, held alongside BRI Microfinance Outlook 2025 at ICE BSD City, Tangerang. The event was attended by key government officials, including Chairman of the People’s Consultative Assembly (MPR) Ahmad Muzani, Coordinating Minister for Economic Affairs Airlangga Hartarto, Coordinating Minister for Community Empowerment Muhaimin Iskandar, Minister of Finance Sri Mulyani Indrawati, Minister of MSMEs Maman Abdurrahman, Deputy Minister of State-Owned Enterprises Kartika Wirjoatmodjo, and Deputy Minister of Trade Dyah Roro Esti.

Prominent government officials, including Finance Minister Sri Mulyani Indrawati and Coordinating Minister for Economic Affairs Airlangga Hartarto, join other esteemed leaders at the official launch of BRI UMKM EXPO(RT) 2025 and Microfinance Outlook
Prominent government officials, including Finance Minister Sri Mulyani Indrawati and Coordinating Minister for Economic Affairs Airlangga Hartarto, join other esteemed leaders at the official launch of BRI UMKM EXPO(RT) 2025 and Microfinance Outlook

“Presenting BRI UMKM EXPO(RT) 2025 alongside BRI Microfinance Outlook (MFO). We hope that the combination of these two events can support President Prabowo Subianto’s Asta Cita vision in creating inclusive, competitive, and sustainable economic growth,” said BRI President Director Sunarso.

On the same occasion, Coordinating Minister for Economic Affairs RI Airlangga Hartarto appreciated BRI UMKM EXPO(RT) 2025, stating that the event is a proof of BRI’s commitment to empowering MSMEs. “This initiative by BRI, involving 1,000 MSMEs, is in line with President Prabowo’s Asta Cita vision to create high-quality job opportunities,” he emphasized.

With theme “Broadening MSME’s Global Outreach”, BRI UMKM EXPO(RT) 2025 aims to expand the market reach of Indonesian MSMEs and enhance the global competitiveness of local entrepreneurs.

BRI remains optimistic about Indonesia’s MSME business potential, aiming for business matching deals worth US$ 89.4 million throughout 2025, exceeding the US$ 81.3 million recorded in 2023.

Additionally, BRI is collaborating with the Ministry of Trade to introduce business matching sessions twice a month in 2025.

For more details about the event, visit briumkmexport.com.

BRI Microfinance Outlook 2025

Held alongside the expo, BRI Microfinance Outlook 2025 serves as a strategic forum discussing economic development, themed “Empowering the People’s Economy: A Pillar for Achieving Inclusive & Sustainable Growth.” focusing on community empowerment as the driving force behind a grassroots-based economy.

In her speech, Finance Minister Sri Mulyani Indrawati emphasized the crucial role of MSMEs in Indonesia’s economic landscape, as well as BRI’s active role as a state-owned enterprise (BUMN) in supporting this sector.

The forum features renowned international speakers, including ADB Chief Economist Albert Francis Park, Nobel Laureate Paul Romer, and Women’s World Banking Head Harsha Rodrigues, discussing strategies for strengthening inclusive finance.

For more information about BANK BRI, visit www.bri.co.id.

   

Sheraton Bali Kuta Resort Redefines Premium Beachfront Stays for Families and Travelers

BALI, Indonesia, Jan. 31, 2025 /PRNewswire/ — Sheraton Bali Kuta Resort is setting a new standard for beachfront luxury in Bali, blending timeless elegance with modern comfort in the heart of Kuta. This vibrant resort offers experiences for every type of traveler, whether you’re visiting for a family getaway, a romantic retreat, or a business trip. Here are the top reasons why Sheraton Bali Kuta Resort should be on your Bali itinerary this year.

Larger Suite Oceanfront at Sheraton Bali Kuta Resort. Wake up to breathtaking ocean views in the Larger Suite Oceanfront, a spacious retreat designed for ultimate relaxation. Featuring a private balcony, a separate living area, and a luxurious bathroom with a soaking tub, this suite offers an elevated stay experience. Perfect for couples or families, the suite blends modern comfort with Balinese charm, just steps away from Kuta Beach and vibrant shopping & dining at Beachwalk Mall.
Larger Suite Oceanfront at Sheraton Bali Kuta Resort. Wake up to breathtaking ocean views in the Larger Suite Oceanfront, a spacious retreat designed for ultimate relaxation. Featuring a private balcony, a separate living area, and a luxurious bathroom with a soaking tub, this suite offers an elevated stay experience. Perfect for couples or families, the suite blends modern comfort with Balinese charm, just steps away from Kuta Beach and vibrant shopping & dining at Beachwalk Mall.

1. Spacious Premium Rooms and Oceanfront Comfort Welcome Families, which offer private balconies with stunning views of the Indian Ocean. Families can enjoy the outdoor pool with panoramic views, while kids explore the Kids Club, giving parents a well-deserved break. For an upgraded Suite Experience, the Family Suite includes connected room with a sofa bed, kids’ tent amenities, buffet breakfast, Jewelry Box Afternoon Tea, and exclusive perks like a one-time minibar, VIP amenities, and a special family room setup. Kids dine free, and guests receive 15% off dining, including Sunday Brunch, making every moment special.

2. A Fresh New Look, welcoming spaces with a community vibe. The resort’s transformed lobby experience, the revitalized lobby perfect for coffee to pastries, mingle, enjoying live music, and have an exceptional evening at &More by Sheraton, the newest oceanfront venue perched high above the stunning Kuta Beach.

3. Culinary Excellence with Stunning Backdrops for every taste. Bene Italian Kitchen serves authentic Italian fare with a rooftop setting, &More by Sheraton is a social lounge featuring coffee, pastries, and creative dishes with oceanfront views and live music. Daily Social blends local and international flavors in a welcoming, community-friendly space. Every meal is more than just dining, each venue offers breathtaking views and the best sunset in Kuta, creating a true sensory journey.

4. Prime Beachfront Location in the Heart of Kuta, from nightlife to enjoying cocktails at the nearby WXYZ Bar at Aloft Bali Kuta, which is within the same complex, to local markets and a world-class shopping mall at Beachwalk, everything is within reach. Ashley Lai, Cluster General Manager, Sheraton Bali Kuta Resort & Aloft Bali Kuta at Beachwalk, shared that ” It’s more than a place to stay, it’s a destination. With refreshed spaces, family-friendly experiences, and unmatched dining, we create moments that last a lifetime.” For more information and bookings, visit Sheraton Bali Kuta Resort.

TRUMP coin: the signal of crypto era and rise of memecoins by global broker Octa


KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 31 January 2025 – Memecoins were on the rise in 2024. Their overall market capitalisation increased from $20 billion last January up to $120 billion in December 2024. Such coins as DOGE, PEPE, or SHIB have thrived, primarily driven by community support and innovative strategies. Some experts have even acknowledged meme coins as a viable crypto trend. TRUMP, a meme coin created by Donald Trump, the 45th and 47th U.S. President, has emerged as a speculative and rather controversial asset. However, it may still signal mass adoption of crypto, regulatory warm-ups and new crypto trends. Global broker Octa explains how the meme coin may impact the market.

Source: Shutterstock
Source: Shutterstock

TRUMP: launch and accelerated growth
Donald Trump surprised society on 17 January 2025, three days before his inauguration, by launching the meme coin TRUMP based on the Solana blockchain. Trump announced the launch on his official X and Truth Social accounts. The coin’s value quickly surged, particularly when it was listed on several CEX (centralised crypto exchanges) like ByBit. Within two days, it increased from $7 on 17 January to $75 on 19 January. The next day, when the President entered the White House, the price soared significantly. The minimum was around $38 per coin. At one point, the coin became the 19th most valuable crypto globally during its peak on 19 January. At the moment of writing the article, the coin ranks 25th on CoinMarketCap in terms of market capitalisation, outperforming popular memecoins like PEPE and, notably, 10-year-old XMR.

TRUMP is considered a memecoin since it has no inherent value, and the asset’s price entirely depends on the market sentiment: buyers and sellers can manipulate the price. Nonetheless, Trump’s fans and crypto enthusiasts have actively supported the coin. The volume of daily traded coins reached its maximum on the inauguration day, 20 January, and surpassed $52 billion.

Currently, the circulating supply accounts for almost a fifth of the whole supply: 200 million tokens. Another 800 million are controlled by Trump-owned entities. The developers plan to release the remaining tokens gradually within three years. However, many experts are concerned because the owner can ruin the market by selling the controlled assets.

MELANIA meme coin: launch and impact on the market
Following the TRUMP coin hype, Melania Trump announced the launch of her own meme coin, MELANIA. While its value almost reached $13 on 20 January, and a lot of crypto traders abandoned TRUMP to trade MELANIA, the asset’s price has dropped since then. The First Lady’s coin was officially presented by her incorporated company, MKT World LLC.

The coin has contributed to the Trump family’s crypto hype. There were even rumours that another coin from Ivanka Trump, the daughter of the elected President, was about to see the world. However, no official news or proof was released, so this could be fake.

The future of TRUMP
TRUMP has been a controversial asset. Some believe it signals ‘a new regulatory era, where governments see crypto as a technology to reach out to the masses directly’. Others are sure that the launch has undermined the credibility of the industry, as the coin is rather volatile and speculative. For example, a popular Bitcoin investor, Erik Voorhees, has criticised the asset.

‘Although TRUMP may be considered as a ‘rug pull’—a quickly abandoned coin—it may have potential longevity. One of the deciding factors is the remaining 80% of the supply and its future’, comments Kar Yong Ang, a financial market analyst at Octa Broker. ‘For now, the future of the asset depends on the crypto society and its willingness to buy TRUMP. This is proved by the MELANIA launch, which shifted liquidity in its favour and significantly dropped the President’s token price.’

Considering the emotion-driven buying frenzy of the TRUMP coin, which potentially drove many newcomers to the crypto market, it’s likely to provoke another rise of memes from celebrities and influencers. While meme coins are known for their high returns, especially during the launch on CEX, they are very volatile and speculative. Traders should avoid quick decisions and overbudgeting to secure their funds.

What is more, it’s advised to beware of scams. For example, there are fake TRUMP tokens now. Moreover, hackers can try to capitalise on the meme hype. Just recently, scammers breached Nasdaq’s X account and promoted a fake meme coin, STONKS. It was launched the same day and was a copycat of a pre-existing memecoin on Solana. Despite this, the project’s market capitalisation reached $80 million. Several days later, the token’s price dropped.

Nonetheless, TRUMP can be considered an evidence of a crypto-favourable regulation. Since Donald Trump was elected as the U.S. President, crypto society has considered this as another proof of an anticipated bull run and crypto mass adoption. For example, Bitcoin hit another ATH (all-time-high) on the inauguration day. This is probably driven by the President’s crypto-related plans, such as industry deregulation or a potential strategic Bitcoin reserve.
Hashtag: #Octa

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

Octa

is an international CFD broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.

In the APAC region, Octa received the ‘Best Trading Platform Malaysia 2024’ and the ‘Most Reliable Broker Asia 2023’ awards from Brands and Business Magazine and International Global Forex Awards, respectively.

The President of Chula Meets with Cambodian Minister of Education, a Graduate of the Faculty of Education Strengthening Relations and Integrating Knowledge for Youth in the Region

BANGKOK, Jan. 31, 2025 /PRNewswire/ — Chulalongkorn University reaffirms its role as a regional education leader by strengthening ties with Cambodia. On January 17, 2025, Chulalongkorn University’s executive team, led by Professor Dr. Wilert Puriwat, President of Chulalongkorn University and Chairman of the Council of University Presidents of Thailand (CUPT), paid a courtesy call on His Excellency Dr. Hang Chuon Naron, Deputy Prime Minister and Minister of Education, Youth, and Sports of Cambodia, who also has the distinction of being an alumnus of Chulalongkorn University’s doctoral program in Education Management

Professor Dr. Wilert Puriwat, President of Chulalongkorn University & Chairman of the Council of University Presidents of Thailand (CUPT), paid a courtesy call on His Excellency Dr. Hang Chuon Naron, Deputy Prime Minister and Minister of Education, Youth, and Sports of Cambodia
Professor Dr. Wilert Puriwat, President of Chulalongkorn University & Chairman of the Council of University Presidents of Thailand (CUPT), paid a courtesy call on His Excellency Dr. Hang Chuon Naron, Deputy Prime Minister and Minister of Education, Youth, and Sports of Cambodia

The purpose of this meeting was to further enhance cooperation in education and research, not only between Chulalongkorn University and Cambodia but also to strengthen educational ties between the two countries. The discussion highlighted the fact that education is key to improving quality of life and focused on the integration of Artificial Intelligence (AI) in schools and universities to enhance teaching methods and increase access to education for youth across the region sustainably. This strategic dialogue underscores Chulalongkorn University’s commitment to promoting educational innovation and fostering open collaboration in ASEAN.

Additionally, the group visited the Institute of Technology of Cambodia (ITC) to explore the application of engineering and advanced technology in addressing environmental issues, solar energy generation, and the development of service robots. This visit was facilitated by Professor Dr. Po Kimtho, an alumnus of Chulalongkorn University’s Master’s program in Electronics and Communication Engineering.

Princess Pongmonirath Devi (Nina) Norodom, an alumnus of the Faculty of Communication Arts at Chulalongkorn University, has also played a significant role in representing Chulalongkorn’s impact in cultivating leaders and advancing Cambodian culture. During this visit, Princess Nina shared her impressions of her time at Chula and discussed possible academic and cultural collaborations between the two institutions. 

Dr. Hang Chuon Naron has been instrumental in driving educational reform in Cambodia, applying the knowledge and leadership skills gained at Chulalongkorn University to improve the country’s education system, reflecting the long-standing educational collaboration between the two countries. 

Furthermore, ten Chulalongkorn University alumni from Cambodia took part in the meeting with the minister, demonstrating the university’s popularity among Cambodian students. Many of these alumni have taken on significant roles in education, government, and industry in Cambodia. 

Dr. Hong Kimcheang, an alumnus of the Faculty of Education at Chulalongkorn University and currently the Director of Kampong Speu Institute of Technology (KSIT) and Assistant Minister of the Ministry of Education, played a key role in facilitating this collaboration. 

Currently, there are 11 Cambodian nationals studying and conducting research at Chulalongkorn University. This includes 7 undergraduate students from the Faculty of Dentistry, 1 undergraduate student from the Faculty of Science, 2 researchers from the Faculty of Nursing and the Institute of Social Science Research, and 1 staff member from the Faculty of Medicine.

Read the full article at https://www.chula.ac.th/en/news/212454/

About Chulalongkorn University

Chulalongkorn University has made the world’s top 50 university list for employment outcomes, which reflects both the high employment rate and workability of Chula graduates. The university is also listed as the best in Thailand for the 15th Consecutive Year (since 2009), according to the newly released QS World University Rankings 2024, putting Chula at 211th in the world, up from 244th last year.

Social Media:

Facebook: https://www.facebook.com/ChulalongkornUniversity

Youtube: https://www.youtube.com/chulauniversity

Linkedin: https://www.linkedin.com/school/15101896/

VISTA Eye Specialist Honored as One of Asia’s Top Private Hospitals by Newsweek for 2025

PETALING JAYA, Malaysia, Jan. 31, 2025 /PRNewswire/ — VISTA Eye Specialist (VISTA) is proud to announce its inclusion among Asia’s Top Private Hospitals for 2025, as recognized by the prestigious Newsweek magazine. This accolade highlights VISTA’s unwavering dedication to providing exceptional eye care, prioritizing patient satisfaction, and embracing innovation in ophthalmology.

VISTA Eye Specialist proudly stands among Asia’s Top Private Hospitals 2025 by Newsweek for outstanding eye care.
VISTA Eye Specialist proudly stands among Asia’s Top Private Hospitals 2025 by Newsweek for outstanding eye care.

VISTA’s Leadership in Eye Care

The Newsweek “Top Private Hospitals in Asia” award reaffirms VISTA’s position as an eye care leader in Malaysia and across the region. Known for its cutting-edge technology, highly skilled professionals, and patient-centric approach, VISTA continues to set new standards of excellence in ophthalmology.

Raising the Bar for World-Class Eye Care

Since its establishment, VISTA has revolutionized eye care services in the region with state-of-the-art facilities and a commitment to innovation. The organization consistently achieves superior patient outcomes, reinforcing its reputation as a trusted authority in the field.

“Being recognized by Newsweek is a significant milestone for our team,” said Boon Siong Lim, Founder of VISTA. “This award validates our commitment to delivering world-class eye care and fostering patient trust. Our mission remains clear: to bring better vision and better lives to the communities we serve.”

Innovating with a Focus on Patient Experience

VISTA recently partnered with healthcare expert Shareef Mahdavi to implement the PX Ninety program—a 90-day action-oriented initiative designed to enhance patient experiences, strengthen team collaboration, and optimize practice performance. This partnership underscores VISTA’s proactive approach to redefining patient care and improving healthcare delivery.

Known for its pioneering advancements in vision correction and treatment, VISTA offers a comprehensive range of solutions, including LASIK, CLEAR PRO, and ICL surgeries, as well as advanced treatments for cataracts (including No-Blade Cataract Surgery), children’s myopia, and dry eye disease. Beyond clinical excellence, VISTA prioritizes compassionate, patient-centered care through rigorous staff training and innovative service delivery.

Embedding ESG Principles and Ikigai in Operations

VISTA integrates Environmental, Social, and Governance (ESG) principles into its operations, reinforcing its commitment to sustainability and social responsibility. Recognized with multiple ESG Awards and certified by BCorp—a designation for businesses meeting high social and environmental performance standards—VISTA’s efforts emphasize its role in advancing eye care, supporting community well-being, and promoting environmental stewardship. In 2025, VISTA will be collaborating with Tzu Chi to offer free cataract surgeries for 100 individuals from poor and underserved communities, reinforcing its commitment to making quality eye care accessible to all.

Additionally, VISTA has embraced the Japanese philosophy of Ikigai, which aligns work with purpose and fulfillment. By embedding Ikigai into its culture, VISTA fosters a meaningful and engaging environment for its staff and patients, driving holistic well-being and improved clinical outcomes.

An Award That Fuels Future Ambitions

This recognition inspires VISTA’s continued growth and innovation. Plans for 2025 include expanding its network of centers and integrating advanced AI technologies to enhance clinical care further. VISTA extends its heartfelt gratitude to its key partners, doctors, and dedicated team members for their vital contributions to this achievement.

“This honor is a testament to the collective effort of our entire team,” said Dr. Aloysius Joseph Low, Founder and Medical Director. “It reflects the trust our patients place in us and motivates us to continue innovating, prioritizing safety, and delivering exceptional clinical results.”

With an increasing number of people living to 100 years and beyond, VISTA believes that restoring clear vision enables individuals to fully embrace their golden years and living life to the fullest.

About VISTA Eye Specialist

A member of Qualitas Health Group, VISTA Eye Specialist has been Malaysia’s leading provider of comprehensive ophthalmology services since its founding in 1999. Specializing in cataract and refractive surgeries, VISTA serves thousands of patients annually. Celebrated for its innovative technologies, exceptional care, and highly skilled team, VISTA has solidified its reputation as the region’s gold standard in eye health.

Youxin Technology Ltd Reports Financial Results for Fiscal Year 2024

GUANGZHOU, China, Jan. 31, 2025 /PRNewswire/ — Youxin Technology Ltd (Nasdaq: YAAS) (the “Company” or “Youxin Technology”), a software as a service (“SaaS”) and platform as a service (“PaaS”) provider committed to helping retail enterprises digitally transform their businesses, today announced its financial results for the fiscal year ended September 30, 2024.

Mr. Shaozhang Lin, Chief Executive Officer of Youxin Technology Ltd, commented, “The past year underscores our diligent strategic adjustments and significant efforts to enhance operational efficiency amid macroeconomic headwinds and challenges in China. We successfully improved our gross margins by 5% to 66% overall in fiscal year 2024 from 61% in fiscal year 2023, despite a decline in revenue due to our strategic shift from developing the customized CRM systems toward developing and marketing our third-generation PaaS platform. As PaaS products generally feature more functionalities in contrast to the more hands-on personnel efforts required for customized CRM development services, we managed to reduce operating expenses and increase efficiency. This improvement reflects better cost control, reduced focus on less profitable service lines, and a pivot toward an upgraded portfolio of solutions. Overall, we reduced our net loss by 45.3%, from $2.34 million in fiscal year 2023 to $1.28 million in fiscal year 2024, while maintaining adequate cash reserves to support product development and strategic execution. We remain optimistic about the growth potential and profitability outlook of our third-generation PaaS platform, which is poised for significant enhancements through AI integration in 2025.”

Mr. Lin continued, “Looking ahead, we are confident that our strategic shift, supported by substantial investment, positions us for a turnaround and long-term growth. Our prudent planning, disciplined management, and strict cost controls will further enhance our operational efficiency and financial stability, ultimately delivering long-term value for the Company and our shareholders.”

Fiscal Year 2024 Financial Overview

  • Revenue was $521,241 in fiscal year 2024, compared to $895,978 in fiscal year 2023.
  • Gross profit was $341,593 in fiscal year 2024, compared to $543,302 in fiscal year 2023.
  • Gross margin was 66% in fiscal year 2024, an increase from 61% in fiscal year 2023.
  • Net loss was $1.3 million in fiscal year 2024, compared to $2.3 million in fiscal year 2023.

Fiscal Year 2024 Financial Results

Revenues

Total revenues were $521,241 in fiscal year 2024, or a decrease of 42% from $895,978 in fiscal year 2023. The decrease was mainly because the Company gradually reduced operating the customized CRM system development services.

For the years ended September 30,

2024

2023

($)

Revenue

Cost of
Revenue

Gross
Margin

Revenue

Cost of
Revenue

Gross
Margin

Professional
services

275,314

158,880

42

%

548,822

318,439

42

%

Payment channel
services

206,526

100

%

291,643

100

%

Others

39,401

20,768

47

%

55,513

34,237

38

%

Total

521,241

179,648

66

%

895,978

352,676

61

%

Revenue from professional services was $275,314 in fiscal year 2024, or a decrease of 50% from $548,822 in fiscal year 2023.

  • The Company did not generate revenue from customized CRM system development services in fiscal year 2024. Revenue from customized CRM system development services was $134,768 in fiscal year 2023. The decrease was mainly due to the Company gradually reducing operating Customized CRM system development service.
  • Revenue from the additional function development services was $42,758 in fiscal year 2024, or a decrease of 73% from $155,904 in fiscal year 2023. The decrease was mainly due to the less new needs of the function development from the existing clients for fiscal year 2024.
  • Revenue from subscription services was $232,556 in fiscal year 2024, or a decrease of 10% from $258,150 in fiscal year 2023. The decrease was mainly due to the decreasing customized CRM system development services from 2023, which led to the Company to provide less subscription service in the following periods.

Cost of Revenues

Cost of revenues was $179,648 in fiscal year 2024, a decrease of 49% from $352,676 in fiscal year 2023.

Gross Profit

Gross profit was $341,593 in fiscal year 2024, compared to $543,302 in fiscal year 2023.

Gross margin was 66% in fiscal year 2024, an increase from 61% in fiscal year 2023.

Operating Expenses

Operating expenses were $1.7 million in fiscal year 2024, compared to $3.0 million in fiscal year 2023.

  • Selling expenses were $94,481 in fiscal year 2024, a decrease of 58% from $225,926 in fiscal year 2023. The decrease was mainly due to the decrease in headcount and salaries and welfare. The decrease of salaries and welfare by 59% was primarily due to a decrease in headcount and pay cuts for fiscal year 2024, compared to fiscal year 2023.
  • General and administrative expenses were $496,006 in fiscal year 2024, a decrease of 16% from $589,372 in fiscal year 2023. The decrease was primarily due to a decrease in salaries and welfare of 46% compared to fiscal year 2023 as decrease in headcount and pay cuts.
  • Research and development expenses were $1.1 million in fiscal year 2024, a decrease of 47% from $2.2 million in fiscal year 2023. The decrease was primarily attributed to the decrease in labor related costs including salary and welfare by 47% for fiscal year 2024 compared to fiscal year 2023. Payment made to Cloud Service and other related research and development costs decreased by 43% for fiscal year 2024, which was in line with the operating of business of reducing of CRM development services.

Other Income, Net

Total net other income was $113,367 in fiscal year 2024, compared to $81,360 in fiscal year 2023.

Net Loss

Net loss was $1.3 million in fiscal year 2024, compared to a net loss of $2.3 million in fiscal year 2023.

Basic and Diluted Loss per Share

Basic and diluted loss per share was $0.04 in fiscal year 2024, compared to $0.09 in fiscal year 2023.

Financial Condition

As of September 30, 2024, the Company had cash of $18,372, compared to $399,050 as of September 30, 2023.

Net cash used in operating activities was $728,066 in fiscal year 2024, compared to $2,310,183 in fiscal year 2023.

Net cash provided by investing activities was $360 in fiscal year 2024, compared to $815 in fiscal year 2023.

Net cash provided by financing activities was $431,390 in fiscal year 2024, compared to $484,878 in fiscal year 2023.

Recent Development

The Company’s Class A ordinary shares began trading on the Nasdaq Capital Market on December 20, 2024 under the ticker symbol “YAAS.” On December 23, 2024, the Company completed its initial public offering (the “Offering”) of 2,300,000 Class A ordinary shares at a public offering price of US$4.50 per Class A ordinary share. The Company received aggregate gross proceeds of US$10.35 million from the Offering, before deducting underwriting discounts and other related expenses payable by the Company.

About Youxin Technology Ltd

Youxin Technology Ltd is a SaaS and PaaS provider committed to helping retail enterprises digitally transform their businesses using its cloud-based SaaS product and PaaS platform to develop, use and control business applications without the need to purchase complex IT infrastructure. Youxin Technology provides a customized, comprehensive, fast-deployment omnichannel digital solutions that unify all aspects of commerce with store innovations, distributed inventory management, cross-channel data integration, and a rich set of ecommerce capabilities that encompass mobile applications, social media, and web-based applications. The Company’s products allow mid-tier brand retailers to use offline direct distribution to connect the management team, distributors, salespersons, stores, and end customers across systems, apps, and devices. This provides retailers with a comprehensive suite of tools to instantly address issues using real-time sales data. For more information, please visit the Company’s website: https://ir.youxin.cloud.

Cautionary Note Regarding Forward-Looking Statements

The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation the Company’s statements regarding the Company’s product development and business prospects, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the security laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. 

For investor and media inquiries, please contact:

Youxin Technology Ltd.
Investor Relations Department
Email: ir@youxin.cloud

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

YOUXIN TECHNOLOGY LTD

CONSOLIDATED BALANCE SHEETS

AS OF SEPTEMBER 30, 2024 AND 2023

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

September
30, 2024

September
30, 2023

ASSETS

CURRENT ASSETS

Cash

$

18,372

$

399,050

Restricted cash

24,649

Accounts receivable, net

176,607

233,481

Prepaid expenses and other current assets

122,676

140,696

Total current assets

342,304

773,227

NON-CURRENT ASSETS

Property and equipment, net

3,948

11,696

Deferred offering costs

478,108

117,215

Operating lease right-of-use assets

123,170

85,662

Other non-current assets

10,608

27,558

Total non-current assets

615,834

242,131

TOTAL ASSETS

$

958,138

$

1,015,358

LIABILITIES

CURRENT LIABILITIES

Short-term bank loan

$

323,472

$

311,129

Accounts payable

31,350

52,448

Contract liabilities

215,768

166,628

Amount due to related parties

1,067,119

274,836

Operating lease liabilities – current

42,277

85,082

Payroll payable

1,869,436

1,465,220

Accrued expenses and other current liabilities

40,299

21,192

Total current liabilities

3,589,721

2,376,535

Operating lease liabilities – non-current

82,674

363

Total non-current liabilities

82,674

363

TOTAL LIABILITIES

$

3,672,395

$

2,376,898

COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS’ DEFICIT

Class A ordinary shares, ($0.0001 par value, 400,000,000 shares
authorized, 22,304,693 shares issued and outstanding as of September
30, 2024 and 2023, respectively)

2,230

2,230

Class B ordinary shares, ($0.0001 par value, 100,000,000 shares
authorized, 8,945,307 shares issued and outstanding as of September 30,
2024 and 2023, respectively)

895

895

Share subscription receivables

(3,125)

(3,125)

Additional paid-in capital

12,154,929

12,154,929

Accumulated deficit

(15,419,765)

(14,139,104)

Accumulated other comprehensive income

550,579

622,635

Total shareholders’ deficit

(2,714,257)

(1,361,540)

TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT

$

958,138

$

1,015,358

YOUXIN TECHNOLOGY LTD

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

FOR THE YEARS ENDED SEPTEMBER 30, 2024, 2023 AND 2022

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

2024

2023

2022

Years Ended September 30,

2024

2023

2022

REVENUES

$

521,241

$

895,978

$

1,277,066

COST OF REVENUES

(179,648)

(352,676)

(581,339)

GROSS PROFIT

341,593

543,302

695,727

OPERATING EXPENSES

Selling expenses

(94,481)

(225,926)

(934,744)

General and administrative expenses

(496,006)

(589,372)

(1,276,127)

Research and development expenses

(1,139,922)

(2,152,602)

(5,257,256)

Total operating expenses

(1,730,409)

(2,967,900)

(7,468,127)

NET LOSS FROM OPERATIONS

(1,388,816)

(2,424,598)

(6,772,400)

OTHER INCOME, NET

Other income

134,802

99,053

349,797

Other expense

(21,435)

(17,693)

(34,280)

Total other income, net

113,367

81,360

315,517

NET LOSS BEFORE TAXES

(1,275,449)

(2,343,238)

(6,456,883)

Income tax expense

(5,212)

NET LOSS

(1,280,661)

(2,343,238)

(6,456,883)

Accretion to redeemable preferred equity

(326,837)

(605,659)

Net loss attributable to ordinary shareholders

(1,280,661)

(2,670,075)

(7,062,542)

NET LOSS

(1,280,661)

(2,343,238)

(6,456,883)

Other comprehensive loss

Foreign currency translation (loss) income

(72,056)

(212,292)

895,745

TOTAL COMPREHENSIVE LOSS

$

(1,352,717)

$

(2,555,530)

$

(5,561,138)

Basic and diluted loss per share

$

(0.04)

$

(0.09)

$

(0.27)

*Weighted average number of ordinary shares
outstanding – basic and diluted

31,335,616

28,204,585

25,931,452

* Giving retroactive effect to the issuance of shares effected on April 21, 2023.

YOUXIN TECHNOLOGY LTD

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED SEPTEMBER 30, 2024, 2023 AND 2022

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

2024

2023

2022

Years Ended September 30

2024

2023

2022

Cash flows from operating activities

Net loss

$

(1,280,661)

$

(2,343,238)

$

(6,456,883)

Adjustments to reconcile net loss to cash used in
operating activities:

Loss (gain) on disposal of property and equipment

572

(357)

Amortization of right-of-use assets

101,888

204,715

481,504

Depreciation

6,816

12,293

14,717

Credit loss provision

4,664

Loss from termination of right-of-use assets

183

369

Changes in assets and liabilities

Accounts receivable

52,210

94,595

(16,181)

Prepaid expenses and other current assets

18,020

69,605

(87,583)

Deferred contract costs

30,192

(7,184)

Other non-current assets

16,950

28,368

24,131

Accounts payable

(21,098)

(14,007)

27,495

Operating lease liabilities

(100,073)

(207,881)

(507,521)

Payroll Payable

404,216

102,096

1,040,790

Accrued expenses and other current liabilities

19,107

(18,026)

(4,532)

Contract liabilities

49,140

(268,907)

217,491

Net cash used in operating activities

(728,066)

(2,310,183)

(5,273,756)

Cash flows from investing activities

Purchase of property and equipment

(1,618)

Proceeds from dispose of property and equipment

360

815

Repayment from a related party

768,380

Net cash provided by investing activities

360

815

766,762

Cash flows from financing activities

Loan from related parties

792,283

284,292

Proceeds from short-term bank loan

321,834

Payment of deferred offering cost

(360,893)

(121,248)

Net cash provided by financing activities

431,390

484,878

Effect of exchange rates on cash and cash equivalents
and restricted cash

(59,713)

5,194

(312,986)

Net decrease in cash and cash equivalents and
restricted cash

(356,029)

(1,819,296)

(4,819,980)

Cash and cash equivalents at beginning of year

399,050

2,218,346

7,038,326

Cash and cash equivalents and restricted cash at end
of year

$

43,021

$

399,050

$

2,218,346

Cash and cash equivalents

18,372

399,050

1,802,236

Restricted cash

24,649

416,110

Cash and cash equivalents and restricted cash at end
of year

43,021

399,050

$

2,218,346

Cash paid for interest expenses

$

10,237

$

257

$

Cash paid for income tax

$

$

$

Supplemental disclosure of non-cash financing
activities:

Accretion to redeemable preferred equity

$

$

326,837

$

605,659

Exchange redeemable preferred equity with Class A
ordinary shares

$

$

12,154,929

$

Operating lease right-of-use assets obtained in exchange
for operating lease liabilities

$

140,844

$

$