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Independent judgment and meritocracy: Driving growth from the boardroom

PASAY CITY, Philippines, Jan. 24, 2025 /PRNewswire/ — Meritocracy is advancing as an indicator of effective governance, with a focus on qualifications, expertise, and independent judgment to propel organizations forward and drive growth from the boardroom.

Frameworks focused on merit and excellence exemplify the growing emphasis on ensuring that board members bring meaningful contributions to their roles.

SM Investments Corporation recently highlighted this principle from the lens of its independent directors. Tomasa “Tammy” Lipana, Independent Director and Chairperson of SM Investments’ Audit Committee, emphasized the importance of qualifications: “You need to look at qualifications. A board member should add to the company’s reputation which is crucial for investors and other stakeholders.”

This sentiment is echoed by Atty. Lily Gruba, Independent Director of SM Investments, who pointed to the natural diversity within the board as a product and clear indication of a healthy meritocracy. “Ideally, the perfect meritocracy is blind to and independent of issues of gender, background, and race, at least where it is not relevant. This is the next level to aspire for in any organization—that it is composed of persons of merit, not just a collection of diverse personalities,” she said.

SM’s governance framework exemplifies its commitment to professionalization, accountability, integrity, fairness, sustainability, and transparency. The company has been raising the bar on corporate governance by promoting independent judgment and fostering leadership that aligns with the highest standards.

A landmark decision in 2023 saw the appointment of Amando M. Tetangco, Jr., former Governor of the Bangko Sentral ng Pilipinas, as Chairman of the Board—the first independent director to hold this position in SM’s history. This underscores the company’s prioritization of expertise, professionalism and the value of independent leadership in shaping its future.

Over 50% of SM’s board seats are held by independent directors, exceeding regulatory standards and setting an industry benchmark. Two of these directors are women known for their expertise in taxation and corporate law, mergers and acquisitions, audit and accounting, to name a few, highlighting a balance between diversity and merit. Independent directors also lead key committees, including Audit, Corporate Governance and Sustainability, Related Party Transactions, and Risk Management, further ensuring objective independent judgment on corporate affairs.

Completing SM’s distinguished roster of independent board directors are Ramon M. Lopez, former Secretary of the Philippine Department of Trade and Industry (DTI) and Robert G. Vergara who previously served as the President and General Manager and Vice-Chairman of the Board of Trustees of the Government Service Insurance System (GSIS).   

These initiatives reflect a commitment to fostering performance and competence, while upholding high governance standards, meeting investor expectations and societal demands and helping drive inclusive growth. 

Laos, Japan Discuss Plans for Direct Flights, Visa Easing

Laos, Japan Discuss Plans for Direct Flights, Visa Easing
Lao Prime Minister Sonexay Siphandone and Japanese Prime Minister Ishiba Shigeru shake hands after signing a Joint Declaration on Upgrading to a Comprehensive Strategic Partnership (photo credit: MOFA Laos)

Laos and Japan have upgraded their relationship to a Comprehensive Strategic Partnership, marking 70 years of diplomatic ties and paving the way for closer collaboration in trade, travel, and regional cooperation.

Ericsson reports fourth quarter results and full-year results 2024

STOCKHOLM, Jan. 24, 2025 /PRNewswire/ — Strategic highlights – continuing to deliver on strategic and operational priorities

  • Maintaining leadership in programmable networks, with new 5G Advanced software launched in October.
  • Growing interest in network APIs, with financial fraud protection and Quality on Demand applications in focus.
  • Further patent licensing agreement signed in Q4, with strong IPR revenue generation in 2024.

Fourth quarter highlights – growth in Networks sales, and strong gross margin expansion

  • Sales increased by 2%* YoY, with 54%* growth in market area North America. Market area Europe and Latin America also grew, while the other market areas declined significantly. Reported sales were SEK 72.9 (71.9) b.
  • Adjusted1 gross income increased to SEK 33.7 (29.6) b. driven by strong expansion in Networks adjusted[1] gross margin to 49.1% (43.2%). Reported gross income was SEK 32.7 (28.6) b.
  • Adjusted1 gross margin was 46.3% (41.1%) driven by supply chain efficiency actions, commercial discipline and market mix. Reported gross margin was 44.9% (39.8%).
  • Adjusted1 EBITA was SEK 10.2 (8.2) b. with a 14.1% (11.4%) margin, benefiting from higher gross income and cost actions, partly offset by bonus accruals which were above target level. EBITA was SEK 8.6 (6.7) b.
  • Net income was SEK 4.9 (3.4) b. EPS diluted was SEK 1.44 (1.02).
  • Free cash flow before M&A was SEK 15.8 (12.5) b. supported by earnings growth and improved working capital.

Full-year highlights – strong growth in North America, and strong free cash flow

  • Sales declined by -5%*, impacted by a -6%* sales decrease in Networks. Reported sales were SEK 247.9 (263.4) b.
  • Adjusted1 gross income increased to SEK 111.4 (104.4) b. with an increased contribution from all segments.
  • Adjusted1 EBITA was SEK 27.2 (21.4) b. with an adjusted[1] EBITA margin of 11.0% (8.1%).
  • Adjusted1 EBIT margin was 3.8% (-5.2%).
  • Net income was SEK 0.4 (-26.1) b. EPS diluted was SEK 0.01 (-7.94).
  • Free cash flow before M&A was SEK 40.0 (-1.1) b. Working capital contributed strongly, benefiting from market mix and customer payment phasing, as well as the structural actions taken to improve supply chain efficiency.
  • Net cash at year-end 2024 was SEK 37.8 (7.8) b.
  • Return on capital employed was 2.5% (-10.7%).
  • A dividend for 2024 of SEK 2.85 (2.70) per share will be proposed to the AGM by the Board of Directors.

Börje Ekholm, President and CEO, said: “Q4 marks a strong end to 2024 for Ericsson. We progressed well against our strategic plan and generated strong free cash flow. Momentum around programmable networks for differentiated performance continued to build, and customers increasingly recognize the benefits of making mobile networks accessible through APIs. In Q4, we signed an open programmable network deal with MasOrange, a first for Europe.

We see further signs that the overall RAN market is now stabilizing, with strong growth in North America supporting a return to Networks sales growth in Q4. Progress on operational excellence continued, with commercial discipline and supply chain efficiency actions supporting a strong adjusted Group gross margin of 46.3% in the quarter. We are not yet at our long-term EBITA goal, but we are progressing towards it, supported by our strategic actions.

For 2025, in Networks we will continue to benefit from our product leadership position, with the best performance and energy efficiency in the industry. In Enterprise, our priority remains stabilizing the commercial performance in the current portfolio and driving growth in areas such as mission critical and enterprise private networks. Our commitment remains to put high-performing, programmable and differentiated networks at the center of the digitalization of enterprise and society.”

* Sales adjusted for the impact of acquisitions and divestments and effects of foreign currency fluctuations.

1Adjusted metrics exclude restructuring charges.

SEK b.

Q4 2024

Q4 2023

YoY change

Q3 2024

QoQ change

Jan-Dec 2024

Jan-Dec 2023

YoY change

Net sales

72.913

71.881

1 %

61.794

18 %

247.880

263.351

-6 %

Organic sales growth1 2

2 %

-5 %

Gross margin2 

44.9 %

39.8 %

45.6 %

44.1 %

38.6 %

EBIT (loss) 

7.958

5.848

36 %

5.774

38 %

4.313

-20.326

EBIT margin2 

10.9 %

8.1 %

9.3 %

1.7 %

-7.7 %

EBITA2 

8.623

6.694

29 %

6.203

39 %

22.145

14.912

49 %

EBITA margin2 

11.8 %

9.3 %

10.0 %

8.9 %

5.7 %

Net income (loss) 

4.879

3.409

43 %

3.881

26 %

0.374

-26.104

EPS diluted, SEK 

1.44

1.02

41 %

1.14

26 %

0.01

-7.94

Free cash flow before M&A2

15.824

12.464

27 %

12.944

22 %

40.034

-1.084

Net cash, end of period2 

37.830

7.832

383 %

25.534

48 %

37.830

7.832

383 %


Adjusted financial measures 2 3

Adjusted gross margin 

46.3 %

41.1 %

46.3 %

44.9 %

39.6 %

Adjusted EBIT (loss) 

9.584

7.368

30 %

7.327

31 %

9.325

-13.805

Adjusted EBIT margin 

13.1 %

10.3 %

11.9 %

3.8 %

-5.2 %

Adjusted EBIT excluding impairments4

9.797

7.368

33 %

7.327

34 %

24.658

18.111

36 %

Adjusted EBIT margin excluding impairments4 

13.4 %

10.3 %

11.9 %

9.9 %

6.9 %

Adjusted EBITA 

10.249

8.214

25 %

7.76

32 %

27.157

21.433

27 %

Adjusted EBITA margin 

14.1 %

11.4 %

12.6 %

11.0 %

8.1 %

1 Sales adjusted for the impact of acquisitions and divestments and effects of foreign currency fluctuations.

2 Non-IFRS financial measures are reconciled at the end of this report to the most directly reconcilable line items in the financial statement.

3 Adjusted metrics exclude restructuring charges

4 Excluding the non-cash impairments recorded in the second and fourth quarter 2024, relating to the impairment of intangible assets mainly attributed to the Vonage acquisition.

NOTES TO EDITORS

You find the complete report with tables in the attached PDF or on www.ericsson.com/investors

Video webcast for analysts, investors and journalists

President and CEO Börje Ekholm and CFO Lars Sandström will comment on the report and take questions at a live video webcast at 9:00 AM CET (8:00 AM GMT London, 3:00 AM EST New York).

Join the webcast or please go to www.ericsson.com/investors

To ask a question: Access dial-in information here

The webcast will be available on-demand after the event and can be viewed at www.ericsson.com/investors.

FOR FURTHER INFORMATION, PLEASE CONTACT
Contact person
Daniel Morris, Head of Investor Relations
Phone: +44 7386657217
E-mail: investor.relations@ericsson.com

Additional contacts
Stella Medlicott, Senior Vice President, Marketing and Corporate Relations
Phone: +46 730 95 65 39
E-mail: media.relations@ericsson.com

Investors
Lena Häggblom, Director, Investor Relations
Phone: +46 72 593 27 78
E-mail: lena.haggblom@ericsson.com

Alan Ganson, Director, Investor Relations
Phone: +46 70 267 27 30
E-mail: alan.ganson@ericsson.com

Media
Ralf Bagner, Head of Media Relations
Phone: +46 76 128 47 89
E-mail: ralf.bagner@ericsson.com

Media relations
Phone: +46 10 719 69 92
E-mail: media.relations@ericsson.com

This is information that Telefonaktiebolaget LM Ericsson is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:00 CET on January 24, 2025.

This information was brought to you by Cision http://news.cision.com.

https://news.cision.com/ericsson/r/ericsson-reports-fourth-quarter-results-and-full-year-results-2024,c4095452

The following files are available for download:

AIMA EBIKE Presents Innovative Lineup at CES 2025: Better Performance, More Freedom – Join Us for an Exclusive Test Ride Experience

LAS VEGAS, Jan. 24, 2025 /PRNewswire/ — AIMA EBike, a leader in sustainable electric mobility, is launching an exclusive campaign to connect with industry experts and lifestyle influencers, offering them the opportunity to experience the performance, design, and quality of AIMA’s latest eBike lineup. This initiative showcases the brand’s commitment to delivering exceptional eBikes that seamlessly blend cutting-edge technology with superior craftsmanship.

AIMA's new line up of products
AIMA’s new line up of products

Experience AIMA Ebike Next-Level Performance: A Perfect Blend of Power and Style

AIMA’s new eBike models are crafted for riders who demand not only high-performance but also unmatched reliability and style. Each model has been meticulously designed to elevate everyday commutes and weekend adventures, with a focus on:

  • Performance Excellence: Featuring powerful motors and advanced battery systems, AIMA eBikes deliver robust power, long-lasting performance, and smooth, consistent rides across diverse terrains.
  • Sleek, Fashion-Forward Design: From ergonomic details to modern aesthetics, every AIMA eBike reflects the brand’s commitment to stylish, practical design that fits seamlessly into any lifestyle.
  • Unparalleled Quality: AIMA partners with trusted industry leaders like Bafang and LG to integrate top-of-the-line components, ensuring each AIMA eBike is built for performance and durability.

Why AIMA eBikes?

AIMA’s new lineup is designed with versatility in mind, offering eBikes that excel in various riding conditions—whether you’re commuting through the city, tackling rugged terrains, or looking for a stylish, comfortable ride. By collaborating with influencers and experts in the field, AIMA E-Bike aims to highlight the standout features that set its eBikes apart:

  • Reliable Performance: Equipped with high-performance motors and batteries, AIMA eBikes ensure a smooth, powerful ride every time.
  • Stylish, Rider-Centric Design: The eBikes feature ergonomic elements and modern aesthetics that prioritize comfort and ease of use, making them perfect for everyday riders.
  • Premium Quality: AIMA’s dedication to quality is reflected in every detail, from motor integration to battery efficiency, ensuring a reliable and enjoyable riding experience.

Get Involved

AIMA EBIKE is extending an exclusive invitation to industry experts and influencers to immerse themselves in the unparalleled performance and design of its latest AIMA eBike models. Attendees will have the unique opportunity to test-ride these cutting-edge bikes and share their immediate experiences, highlighting the premium quality, comfort, and smart features that distinguish AIMA eBikes in the realm of electric mobility.

For general inquiries, feel free to leave a message on AIMA’s official Instagram page “@aimaebike”.

About AIMA EBIKE

AIMA EBike is a leader in sustainable electric mobility, creating high-quality eBikes designed for riders who demand style, performance, and reliability. With a focus on innovation and collaboration, AIMA is transforming how people move and experience their world.

Turfan, Xinjiang: China’s “Heat Pole” with a Maximum Temperature Difference of 63°C Supports Cold Water Fish Farming

TURFAN, China, Jan. 24, 2025 /PRNewswire/ — On January 24, at the farm of Dacaohu Cold Water Fish Co., Ltd. in Gaochang District, Turfan, 30 tons of cold water aquaculture salmon were freshly harvested and will be distributed to first- and second-tier cities in China during the Spring Festival. The farm is situated near Aiding Lake, the lowest altitude area in China, where abundant cold water resources from Tianshan Mountain glacier meltwater provide significant potential for development and utilization. Through an electrified water circulation control system, the water temperature remains consistently around 18°C year-round, resulting in a maximum temperature difference of 63°C between the pool water and the external environment.

To ensure the healthy development of the aquaculture industry, State Grid Turfan Power Supply Company has actively implemented the “three zero, three province” service initiative. This includes constructing a new 10 kV power line spanning 6.1 kilometers and installing four distribution transformers, thereby saving customers approximately 1.61 million yuan in electricity costs. Regular door-to-door services have been normalized to ensure reliable power supply for customers.

Turfan has established two salmon farming bases, comprising a total of 66 land-based fish ponds that raise 350,000 salmon. With the support of efficient water-oxygen mixing technology, the output is 8 to 10 times higher than traditional farming methods, with an expected annual production of 1,000 tons and a value exceeding 80 million yuan. Currently, in addition to Turfan, Xinjiang has also developed several other salmon-producing regions in Yili, Bazhou, and other areas, producing a total of over 7,000 tons annually, accounting for about 30% of the national output. These efforts have successfully broken the constraints imposed by climate, environment, and region on salmon farming.

Talent Shortage in APAC Persists with 77% of Employers Facing Challenges in Filling Positions

SINGAPORE, Jan. 24, 2025 /PRNewswire/ — The 2025 ManpowerGroup‘s latest Talent Shortage Survey reveals that nearly four in five employers in the Asia Pacific (APAC) region are struggling to find skilled talent, with 77% reporting difficulties. This marks a significant increase from 45% in 2014 and exceeds the global average of 74%, underscoring a growing concern for employers across diverse industries.

APAC Talent Shortage Over Time
APAC Talent Shortage Over Time

The survey, which gathered insights from 10,095 employers across APAC, indicates that the most difficult to find skills are IT & Data (32%), Engineering (27%), and Sales & Marketing (24%).

According to the report, the APAC IT sector was experiencing the highest level of talent scarcity, with 81% of employers in the sector noting they are facing talent shortages.

Underscoring the need for skilled professionals as businesses increasingly rely on technology and digital transformation.

“The persistent talent shortages highlighted by this report suggests the talent shortage has become a structural feature of the regional labor market which employers must navigate, especially in the IT sector where the shortage is being most heavily realized,” said Mr François Lançon, Regional President of Asia Pacific & Middle East, ManpowerGroup.

“In a talent short market, employers must act quickly and decisively to secure the necessary skills for growth or commit to developing the talent they need internally through a targeted learning and development program,” Mr Lançon said. “At ManpowerGroup, we are committed to addressing the skills gap and upskilling talent at scale, we are investing in academies to prepare the workforce for future jobs.”

The report suggests the need for internal learning and development programs is being taken seriously with 35% of companies indicating they are focusing on upskilling and reskilling their current workforce to bridge skill gaps.

EMPLOYER RESPONSE TO TALENT SHORTAGES

The survey reveals organizations are taking multiple approaches to address talent scarcity:

  • 35% – Upskilling and reskilling current employees
  • 30% – Increasing wages
  • 26% – Offering more schedule flexibility
  • 25% – Targeting new talent pools
  • 21% – Offering more location flexibility

“As businesses navigate these ongoing talent challenges, it is more crucial than ever that industry leaders, governments and educational institutions collaborate to ensure that future generations are equipped with relevant skills,” Mr Lançon said.

For more information, visit: https://www.manpowergroup.com.sg/apac-talent-shortage-2025

Neusoft Showcases Multiple Innovative Products at Automotive World 2025

TOKYO, Jan. 24, 2025 /PRNewswire/ — Recently, Automotive World 2025, the world’s leading exhibition for advanced automotive technologies, was successfully held in Tokyo, Japan. Neusoft Corporation (Neusoft, SSE:600718) showcased a variety of core technology products and solutions, demonstrating to global automakers and partners its cutting-edge technological achievements and innovative industrial collaboration practices in the field of intelligent vehicle connectivity.

Japan is one of the important automotive markets in the world, and its automotive industry has continued to flourish in recent years, with a surge in the demand for intelligent vehicle connectivity products. Over the years, the Japanese market has been a key region for Neusoft to continuously expand its presence, seek greater market growth, and achieve technological innovation and industrial collaboration for win-win results.

Neusoft’s standout highlight at the exhibition was the launch of its brand-new NAGIC intelligent cockpit software platform. As a cockpit software solution designed for the global market, it combines the remarkable advantages of low cost and high performance, while covering all typical basic cockpit functions worldwide. Furthermore, it has greatly strengthened the in-cabin and out-of-cabin visual technology capabilities, including AVM (All-around View Monitor) and DMS (Driver Monitoring System), and broadly integrating diverse global ecosystem resources to provide highly competitive solutions from Neusoft to various vehicle models for OEMs. This product made its debut in Japanese market and will be promoted globally in the future to provide customized functions and services for automakers worldwide.

In addition, Neusoft also showcased its intelligent cockpit products that are compatible with multiple hardware platforms, multi series of intelligent communication products, the OneCoreGo® Global In-Vehicle Intelligent Mobility Solutions 5.0, along with the latest applications of software products and services tailored to different markets and user needs. With these innovative products and solutions, Neusoft received widespread attention at the exhibition.

Amidst the booming development of automotive industry, Neusoft has consistently maintained its innovative vitality and forward-thinking layout. Moving forward, Neusoft will continue to uphold its globalization strategy, engaging in deep cooperation with global ecosystem partners, to facilitate the efficient transition to intelligent vehicles for global automakers, and contribute to building an interconnected, intelligent, and convenient mobility ecosystem.

For more information about Neusoft, please visit www.neusoft.com.

Kexing Biopharm Participates in the 17th Biotech Showcase, with Multiple Innovation Pipelines Gaining Attention

SHENZHEN, China, Jan. 24, 2025 /PRNewswire/ — From January 13 to 16, Dr. Huiming Li, Deputy General Manager of Kexing Biopharm New Drug Research Center, attended the 17th Biotech Showcase Conference in San Francisco and the Global Biopharma Symposium hosted by Jones Day & MSQ Ventures.

The Jones Day & MSQ Ventures Pre-JPM Symposium builds impactful partnerships for top leaders and investors in the biotechnology and pharmaceutical sectors, providing an opportunity to gain insight into the latest industry trends. The Biotech Showcase brings more than 400 selected global companies together, covering diverse fields such as innovative biopharmaceuticals, biotechnology platforms, digital health and diagnosis, attracting investors with more than USD 400 billion capital and active partners in the life science field.

On the first day of Biotech Showcase on January 13, Dr. Huiming Li introduced Kexing Biopharm’s innovative antibody technology platform KX-BODY and fusion protein technology platform KX-FUSION, as well as a number of anti-tumor and autoimmune pipelines built upon the two platforms, especially the new antibody that is about to enter the clinical trial stage for the treatment of cancer cachexia by targeting GDF-15, an emerging target. Kexing Biopharm’s GB18 (target: GDF-15) program is intended to treat cancer cachexia and cachexia caused by other chronic diseases such as heart failure. The GB18 molecule has a unique nanobody-Fc fusion structure (VHH-Fc), and the Company has completed the submission of an international patent portfolio. In the preclinical research stage, GB18 has shown potent efficacy in a number of cancer cachexia models in mice, including HT1080 (human fibrosarcoma), Renca (mouse kidney tumor) and MC38-hGDF15 overexpression (mouse colon cancer) and chemotherapy-induced cachexia model by cisplatin, as well as MCT-induced heart failure model in rats. In addition to significant increase in body weight, muscle and fat weight, cachectic mice treated with GB18 also show pronounced improvement in motor function. According to the preclinical PK data, the clinical dosing frequency is predicted to be once per 3-4 weeks. In terms of CMC, GB18 shows good stability, and an expression yield of more than 10.0 g/L, and ultra-high solubility (more than 200 mg/mL), supporting the development of subcutaneous injections. At present, its 6-month stability data is favorable based on analysis of samples from two GMP batches at a scale of 200 L. As to the toxicology, the 13-week repeated dose toxicity studies of GB18 have been completed in rats and cynomolgus monkeys. No significant toxic reactions were observed in the two animal species, and the NOAELs were at a high dose. We believe that in the near future, this anti-GDF15 antibody will play an important role in improving the quality of life and restoring health for patients with cancer or other chronic diseases.

After the conference, Dr. Huiming Li interacted with a number of well-known pharmaceutical companies and investment institutions, introducing the Company’s pipeline, such as GB05 “Human Interferon α1b Inhalation Solution”, GB18 for tumor cachexia (target: GDF-15), GB12 for atopic dermatitis (target: IL-4R/IL-31R), GB19 for lupus erythematosus (target: BDCA2), and GB24 (TL1A bispecific-antibody) for inflammatory bowel disease. Among them, GB12, GB18 and GB24 have received much attention. For GB24, one of its targets is TL1A, a popular target in the field of inflammatory bowel disease (IBD) that has seen several major transactions recently. In addition to TL1A, GB24 also targets another emerging pathway in IBD that has strong synergistic effects with TL1A in terms of function and mechanism of action, and may help to improve IBD treatment in a profound way. GB24 could be a high-quality innovative asset of Kexing Biopharm among its innovative pipelines.

At this Conference, the rising influence of Chinese innovation in biopharma has become an undeniable trend. Pipelines of drugs invented in China have attracted investment from MNCs and venture capital, leading to multiple cross-border licensing deals in the past year. High quality and innovative science, cost-benefit and speed are among the major contributing factors. It is evident that the innovation ability of Chinese biotechs has been gradually recognized, and this will trigger an uptick in global collaboration in the biopharma industry.

Adhering to the platform-based development strategy of “innovation + internationalization”, Kexing Biopharm has accelerated its R&D and innovation since it was listed on the Shanghai Stock Exchange STAR Market, transforming its pipeline portfolio from modified drugs to innovative new drugs. With the advancement of various projects in antiviral, antitumor, and autoimmune research, there is hope to address more clinical gaps.