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LG Innotek Reasserts Its Leadership in the Future Mobility Market at CES 2025

  • Exhibition booth attracts 65,000 cumulative visitors, showcasing innovative mobility components
  • Innovative technologies presented through a ‘User-Centric storytelling’ approach elicit strong acclaim, inquiries from visiting customers ensue

SEOUL, South Korea, Jan. 13, 2025 /PRNewswire/ — On the 13th, LG Innotek (CEO Moon Hyuksoo) announced that it successfully staged its exhibition at CES 2025 held in Las Vegas, USA.

Visitors at LG Innotek's CES 2025 Exhibition Booth
Visitors at LG Innotek’s CES 2025 Exhibition Booth

Situated at the entrance of the West Hall of the Las Vegas Convention Center (LVCC), LG Innotek’s exhibition booth attracted a steady stream of visitors from its opening on the first day of the CES event, on January 7th (local time).

Visitors at LG Innotek's CES 2025 Exhibition Booth
Visitors at LG Innotek’s CES 2025 Exhibition Booth

During the four-day exhibition period that lasted until the 10th, more than 65,000 visitors were recorded at the LG Innotek booth. Many visitors showed great interest, leading to product inquiries and on-the-spot meeting requests.

A company representative said, “This year, we prominently displayed a 1,800-inch large-scale video advertisement in the Main Hall of the West Hall and a 9-meter-tall banner at the booth entrance, effectively enhancing brand awareness and exhibition promotion.”

At CES 2025, LG Innotek focused its exhibition on the theme of mobility to solidify its position as a ‘Total Solution Provider’ in the global market for future mobility.

In particular, LG Innotek designed its open booth with a sleek, futuristic black aesthetic, showcasing not only a future vehicle mockup but also its new brand identity, ‘ENABLE THE NEXT’, and the slogan, ‘YOUR ASPIRATION, OUR INNOVATION.’

At the center of the exhibition booth, the future vehicle mockup displayed 15 key components for sensing, communication, and lighting. Additionally, the high-value vehicle lighting module, Nexlide A+, which won the CES 2025 Innovation Award, garnered significant attention.

LG Innotek Nexlide showcased at CES 2025
LG Innotek Nexlide showcased at CES 2025

In the expanded private booth, which was 30% larger than the previous year, various innovative and integrated solutions combining optical, communication, and automotive technologies were presented through an immersive User-Centric storytelling approach, receiving positive feedback.

Among these, the RGB-IR In-Cabin Camera Module, unveiled for the first time at CES 2025, stood out. This camera can monitor driver conditions, such as detecting drowsiness, and alert the driver immediately.

An LG Innotek employee demonstrating the In-Cabin Camera Module at CES 2025
An LG Innotek employee demonstrating the In-Cabin Camera Module at CES 2025

Unlike conventional models, this new module features a 150-degree field of view, enabling simultaneous monitoring of the driver, front passenger, and rear passengers. It integrates a 5-megapixel RGB camera, an IR camera for low-light environments, and a 3D camera that supports facial recognition for functions like login and payment.

When a driver logs in using facial recognition, settings such as radio channels and air conditioning levels, adjusted by previous drivers, are automatically switched to the new driver’s preferences. A North American customer said, “It’s impressive how such advanced features, which enhance convenience for drivers, are incorporated into a single small camera module.”

The innovation of ‘Nexlide Vision,’ developed with LG Innotek’s proprietary vehicle lighting technology, also drew attention. Combining pixel lighting and smart film technology, this product can implement pixels, surfaces, and lines simultaneously.

For instance, by writing a desired message on the adjacent pad, the text instantly appears on the vehicle’s lighting grill. This innovative application demonstrated how advanced communication capabilities can be integrated into vehicle lighting.

A customer who experienced Nexlide Vision’s lettering feature said, “If an emergency stop is required while driving, it’s possible to use Nexlide Vision to communicate specific reasons to following vehicles, potentially preventing accidents. LG Innotek’s technology is truly remarkable.”

Furthermore, LG Innotek’s comprehensive lineup of mobility solutions, including the Next-Generation Digital Key Solution, Vehicle AP Module, All-Weather Camera Solution, and the groundbreaking B-Link, which combines a wireless Battery Management System (BMS) with a Battery Junction Box (BJB), were prominently showcased at CES 2025.

CEO Moon Hyuksoo stated, “Through CES 2025, LG Innotek has further strengthened its position as a leader in future mobility components. We will continue to deliver innovative solutions that provide differentiated value to customers and grow as the reliable technology partner enabling our customer’s aspiration.”

LG Innotek CEO Moon Hyuksoo
LG Innotek CEO Moon Hyuksoo

Dx&Vx Presents a New Paradigm for Next-Generation Infectious Disease Response with the Development of a Universal Vaccine

– Preparing for Phase 2 Global Trials of a Ferritin Platform-Based Virus-Like Particle Universal Coronavirus Vaccine
– Based on the Excellent Safety and Immune Response in Phase 1 Clinical Results, with a Plan to Extend Administration Routes and Indications

SEOUL, South Korea, Jan. 13, 2025 /PRNewswire/ — Since the COVID-19 pandemic, mRNA vaccines have been recognized as the most important platform for infectious disease prevention and continue to be utilized across various fields. However, concerns remain about the limitations of the technology, including the need for ultra-cold storage and side effects associated with lipid nanoparticles (LNP) required for mRNA delivery.

Recently, new platforms are emerging as alternatives to mRNA vaccines.

One such platform is the Virus-Like Particle (VLP) vaccine technology. While not as widely known as mRNA vaccines, Ferritin based nano platform VLP vaccines have been noted for their potential to significantly enhance immune responses due to their structural stability. VLPs mimic the structural characteristics of target viruses, presenting antigens in a virus-like configuration. Particularly, the Ferritin based nano platform VLP vaccine is being evaluated as a powerful platform capable of accommodating multiple virus antigens simultaneously, making it suitable for addressing various mutations.

DXVX(180400) has recently acquired global development rights from Stanford University for an innovative universal coronavirus vaccine based on the Ferritin based nano platform VLP technology. Through the dedication and persuasive efforts of Chong-Yoon Lim, Chairman of the COREE Group and major shareholder of DXVX, this collaboration was established.

Ferritin, a protein that stores iron, can self-assemble into hollow spherical nanoparticles depending on pH conditions. Dx&Vx’s VLP vaccine utilizes this ferritin-based nanoparticle platform to display the spike protein of the coronavirus on its surface, making a universal coronavirus vaccine. The Ferritin-based VLP vaccine structurally mimics the size and shape of the COVID-19 virus, enabling the immune system to recognize it as the actual virus. This VLP vaccine can induce a strong cytotoxic T-cell response, effectively combating viral infections.

The human immune system defends against viral infections through both humoral and cellular immune responses, a process known as ‘cross-presentation.’ Vaccines that stimulate both immune systems simultaneously provide more robust and long-lasting immunity compared to vaccines that only induce antibody production.

Cytotoxic T cells, which play a critical role in destroying virus-infected or cancerous cells, do not directly recognize antigens. Instead, T cells only identify antigen fragments presented by major histocompatibility complex (MHC) molecules, thereby targeting and eliminating infected cells.

Notably, Dx&Vx’s vaccine is designed to strongly induce both humoral and cellular immune responses, making it superior to traditional antigen protein-based vaccines that primarily focus on humoral immunity. The Ferritin-based VLP vaccine, now preparing for global Phase 2 clinical trials, is expected to demonstrate superior immune induction effects compared to marketed vaccines.

VLP vaccine image
VLP vaccine image

According to animal studies conducted by the Walter Reed Army Institute of Research (WRAIR), the Ferritin-based VLP vaccine demonstrated neutralizing antibody levels more than ten times higher than those of mRNA vaccines. Additionally, the Wuhan Institute of Virology in China reported that the Ferritin-based VLP vaccine outperformed mRNA vaccines. Collectively, these findings indicate that the Ferritin-based VLP vaccine may offer superior protective effects compared to traditional vaccine platforms.

Moreover, this vaccine has demonstrated stability at room temperature for up to two weeks and has shown the ability to induce strong immune responses even in previously unexposed organisms. These characteristics distinguish it from mRNA-based vaccines. The platform has also been validated for its applicability in polyvalent vaccines for broad mutation coverage, offering versatility in administration routes and various other advantages.

Ferritin-based vaccine can simultaneously activate both humoral and cellular immunity, whereas traditional vaccines primarily depend on humoral immunity (Global Journal ‘Vaccines’, December 2024)
Ferritin-based vaccine can simultaneously activate both humoral and cellular immunity, whereas traditional vaccines primarily depend on humoral immunity (Global Journal ‘Vaccines’, December 2024)

Dx&Vx’s VLP universal coronavirus vaccine has already completed Phase 1 clinical trials in the United States and South Africa, where it was evaluated against mRNA vaccines for antibody titers and adverse effects. The results have confirmed the technological superiority of this vaccine platform.

The Ferritin platform-based VLP vaccine is expected to be extended for the development of vaccines against various lethal viruses, such as influenza and Ebola, playing a critical role in future pandemic responses.

A Dx&Vx representative stated, “The ultimate goal of the Ferritin platform-based VLP vaccine under development is to provide a safe, superior, and convenient vaccine that offers maximum protection against various deadly infectious diseases for humanity.”

Trillium Flow Technologies Successfully Completes Refinancing

STAMFORD, Conn., Jan. 13, 2025 /PRNewswire/ — Trillium Flow Technologies (“Trillium”), a portfolio company of First Reserve, and a global designer, manufacturer, and aftermarket services provider of highly engineered valves and pumps used in critical infrastructure sectors such as nuclear power, water, wastewater, and industrial processing, is pleased to announce the successful completion of its refinancing in December 2024.

The refinancing provides Trillium with extended maturity, enhanced liquidity, improved terms, and increased flexibility to support further M&A activity.

Kerem Yilmaz, Chief Financial Officer of Trillium, commented: “We are pleased to cap a successful 2024 with this significant milestone and to enter 2025 with strong momentum. We are excited about our new credit facility, which is led by funds managed by Blue Owl Capital Inc. (“Blue Owl”). We would also like to thank JP Morgan and BDTMSD for their continued commitment and support of our business. This refinancing positions us well to execute our organic growth strategy, which includes investing in innovation and operational excellence to better serve our customers. We aim to remain active in M&A as a leading player in the flow control industry.”

Matt Tier, Managing Director at Blue Owl, said: “Trillium has a long and successful track record as a global supplier and aftermarket service provider of mission-critical valves and pumps used in a variety of industries. We are excited to welcome Trillium as borrower in our direct lending portfolio and look forward to supporting Doug, Kerem and the rest of the leadership team as they execute on their growth strategy for the business in the years to come.”

Doug Kitani, Chief Executive Officer of Trillium, said: “I’d like to extend my deepest gratitude to our finance team, equity partner First Reserve, and our lead lender, Blue Owl, for their support throughout this successful refinancing, and I especially want to recognize our employees for their exceptional performance in 2024. This milestone reflects our collective dedication and positions Trillium for continued innovation, growth, and leadership in the global flow control industry.”

About Trillium Flow Technologies
Trillium Flow Technologies is a global designer, manufacturer, and aftermarket services provider specializing in highly engineered valves, pumps, and related products. Serving customers in critical infrastructure industries, Trillium is committed to delivering innovative solutions that enhance reliability, safety, and efficiency.

For more information, visit: www.trilliumflow.com.

About Blue Owl
Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives.

With $235 billion in assets under management as of September 30, 2024, we invest across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Estate. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.

Together with over 1,050 experienced professionals, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com.

About First Reserve:
First Reserve is a leading global private equity firm investing across diversified energy, utility, and industrial end-markets. Founded in 1983, First Reserve has more than 40 years of industry insight and has cultivated a differentiated network of global relationships. The firm has raised over $34 billion of aggregate capital and has developed operational expertise built from over 750 transactions, including platform investments and add-on acquisitions. For more information, visit www.firstreserve.com.

Media Contact
Chris Molineaux
Global Marketing and Communications Director, Trillium Flow Technologies
media@trilliumflow.com

ZEISS MEL 90 excimer laser receives U.S. FDA approval; completes Corneal Refractive Workflow

The excimer laser complements the ZEISS VISUMAX 800 with ZEISS SMILE pro, extending ZEISS’ LVC market leadership with treatment for myopia, hyperopia, and mixed astigmatism.

DUBLIN, Calif. and JENA, Germany, Jan. 13, 2025 /PRNewswire/ — ZEISS Medical Technology announced today that the MEL® 90 received approval from the U.S. Food and Drug Administration (FDA), giving the excimer laser technology simultaneous approval for all three major indications, including myopia, hyperopia and mixed astigmatism (a condition where both hyperopic and myopic correction is required). The ZEISS MEL 90 fully integrates into the Corneal Refractive Workflow to offer U.S. surgeons a fast, reliable, and streamlined surgery experience, complementing the VISUMAX® 800 with SMILE® pro from ZEISS to help further broaden a surgeon’s refractive business with improved patient attraction and positive clinical outcomes.

ZEISS MEL 90 Excimer Laser
ZEISS MEL 90 Excimer Laser

“The increasing global adoption of laser vision correction reflects the advancements and positive impact the technology continues to have on the quality of life for patients,” says Magnus Reibenspiess, Head of Strategic Business Unit Ophthalmology at ZEISS Medical Technology. “With the integration of the ZEISS MEL 90, surgeons can confidently care for their patients with greater workflow efficiency and performance with enhanced outcomes.”

“ZEISS continues to break new ground as a leader in the LVC market, reflecting our ongoing commitment to and support of U.S. surgeons and patients with the latest refractive innovation that helps set practices apart and provides more options to more patients,” says Andrew Chang, Head of Global Sales for ZEISS Medical Technology. “With the availability of the ZEISS MEL 90 in the U.S. market, surgeons can now offer an integrated workflow of refractive technology to help reach new patients and provide excellent outcomes for them.”

“The FDA approval of the ZEISS MEL 90 excimer laser is a game changer for refractive surgery in the U.S. This advanced technology, with its Triple-A ablation algorithm and fast ablation speed, sets a new benchmark for precision, safety, and efficiency. I am particularly impressed by the system’s ability to simplify treatment planning while delivering highly predictable and tissue-conserving results. The integration of the ZEISS MEL 90 with the ZEISS VISUMAX 800 femtosecond laser opens new doors for streamlined workflows and optimal patient outcomes. This approval marks an exciting chapter for surgeons and patients alike,” says Dr. John Doane, Refractive Surgeon, Discover Vision Centers, Kansas City, MO.

Reliable Outcomes: The ZEISS MEL 90 offers Triple-A (Advanced Ablation Algorithm), which is a single ablation profile for a wide range of sphero-cylindrical (SCA) corrections that simplifies treatment planning. Triple-A offers a high degree of accuracy, reproducibility and predictability, as well as advantages such as tissue-saving ablation. Its preinstalled functions also offer surgeons optimal support for achieving excellent treatment results and gentle treatments of standard, higher and lower levels of ametropia and astigmatism.

Fast Ablation Speed: The ZEISS MEL 90 offers a truly customized power package. When performing LASIK for myopia at 500 Hz, the ZEISS MEL 90 can intra-operatively ablate 1 diopter in as little as 1.3 seconds.1 Intuitive system guidance and speedy treatment planning allow for additional time savings. The ZEISS MEL 90 excimer laser technology is equipped with an active eye tracker which delivers an excellent response time, providing a high level of treatment safety with very stable results.

Easy to Use: New capabilities of the ZEISS MEL 90 excimer laser greatly simplify the interactions between the surgeon, the assisting staff and the system technology. The excimer laser can be configured to precisely match the surgeon and the OR team’s needs. The system’s simple, intuitive graphic user interface supports fast treatment procedures, and the touch screen can be flexibly positioned wherever it is needed to enable the surgeon to have good ergonomic sitting posture throughout an operation. A second, optional touch screen can be configured to optimally complement the treatment routine of the OR team. An HD video port, network printer connection, and PDF export capabilities offer additional workflow support.

With the ZEISS MEL 90, the company expands its offerings for U.S. refractive clinics and helps support the improvement of clinical outcomes and patient satisfaction through onboarding, training, service support and ZEISS Practice Development Consulting.

The ZEISS MEL 90 excimer laser is currently available in the U.S. For more information, visit www.zeiss.com/us/mel-90

1LASIK myopia, optical zone 6 mm.

Not all products, services or offers are approved or offered in every market and approved labeling and instructions may vary from one country to another. For country-specific product information, see the appropriate country website. Product specifications are subject to change in design and scope of delivery as a result of ongoing technical development. The statements of the healthcare professionals reflect only their personal opinions and experiences and do not necessarily reflect the opinion of any institution that they are affiliated with. The healthcare professionals alone are responsible for the content of their experience reported and any potential resulting infringements. Carl Zeiss Meditec AG and its affiliates to not have clinical evidence supporting the opinions and statements of the health care professionals nor accept any responsibility or liability of the healthcare professionals’ content. The healthcare professionals have a contractual or other financial relationship with Carl Zeiss Meditec AG and its affiliates and have received financial support.

Brief profile

Carl Zeiss Meditec AG (ISIN: DE0005313704), which is listed on the MDAX and TecDAX of the German stock exchange, is one of the world’s leading medical technology companies. The Company supplies innovative technologies and application-oriented solutions designed to help doctors improve the quality of life of their patients. The Company offers complete solutions, including implants and consumables, to diagnose and treat eye diseases. The Company creates innovative visualization solutions in the field of microsurgery. With 5,730 employees worldwide, the Group generated revenue of €2,066.1m in fiscal year 2023/24 (to 30 September).

The Group’s head office is located in Jena, Germany, and it has subsidiaries in Germany and abroad; more than 50 percent of its employees are based in the USA, Japan, Spain and France. The Center for Application and Research (CARIn) in Bangalore, India and the Carl Zeiss Innovations Center for Research and Development in Shanghai, China, strengthen the Company’s presence in these rapidly developing economies. Around 39 percent of Carl Zeiss Meditec AG’s shares are in free float. Approx. 59 percent are held by Carl Zeiss AG, one of the world’s leading groups in the optical and optoelectronic industries.

For more information visit our website at www.zeiss.com/med

Neuromodulation Wristband ObeEnd Reduces Heart Rate and Perceived Exercise Exertion

VANCOUVER, BC, Jan. 13, 2025 /PRNewswire/ — WAT Medical Enterprise collaborated with Concordia University and Mitacs Canada to conduct a study using ObeEnd, the neuromodulation device designed by WAT for weight and health management. The study revealed that electroacupuncture may help improve exercise performance and post-exercise recovery by reducing heart rate and perceived exertion during physical activity.

Published in the International Journal of Environmental Research and Public Health, the study highlights the potential benefits of this neuromodulation technology based on traditional Chinese medicine technique for enhancing participation in physical activity.

The research involved 32 healthy participants, who underwent electroacupuncture sessions targeting the PC6 acupuncture point over the course of one week. The study employed the YMCA submaximal bike test to measure cardiovascular responses, including heart rate, systolic blood pressure, and perceived exertion levels.

Key findings included a significant reduction in heart rate during the most challenging stage of the exercise test, as well as a decreased perception of effort across all stages. Additionally, participants experienced quicker post-exercise recovery, with systolic blood pressure notably lower five minutes after completing the test. The proposed mechanism of action is through the modulation of the rostral ventrolateral medulla (RVLM), a key area in the brainstem that regulates cardiovascular function and arterial blood pressure.

The study suggests that electroacupuncture could be particularly useful for populations struggling with sedentary lifestyles or exercise-induced fatigue. By making exercise feel easier, this technique could encourage greater adherence to fitness routines, promoting better long-term health outcomes.

Possible application in hypertension management could also be explored in future studies, as the proposed mechanism has the potential to down-regulate the sympathetic nervous system and reduce blood pressure.

References:

  1. https://pmc.ncbi.nlm.nih.gov/articles/PMC11507089/
  2. www.watmedical.com
  3. www.emeterm.com

Addentax Invests Equity Stake in Fresh Food Marketing Solution Provider, Well Information Technology Corporation

SHENZHEN, China, Jan. 13, 2025 /PRNewswire/ — Addentax Group Corp. (“Addentax” or the “Company”) (Nasdaq: ATXG), an integrated service provider focusing on garment manufacturing, logistics services, property management, and subleasing, has announced that Addentax has purchased 3,750,000 common shares in Well Information Technology Corporation (“Well InfoTech”), a company incorporated under the jurisdiction of the State of Nevada. Well InfoTech and its subsidiaries are headquartered in Hangzhou, People’s Republic of China.

Well InfoTech’s core expertise lies in providing a comprehensive range of marketing solutions, including both online and offline marketing plans. Well InfoTech mainly serves store owners and managing personnel in fresh food industry across People’s Republic of China, mainly targeting large cities in China, such as Hangzhou, Beijing, and Heilongjiang. Their mission is to deliver comprehensive and tailored marketing solutions that enhance the visibility and profitability of fresh food store owners. Well InfoTech is committed to leveraging the latest digital tools and traditional marketing techniques to connect businesses with their customers, build lasting relationships, and promote a culture of healthy eating.

Pursuant to the Securities Purchase Agreement, the Company acquired 2.5% equity stake in Well InfoTech for a total consideration of USD $750,000. The investment was made in cash.

About Addentax Group Corp.

Addentax Group Corp. is an integrated service provider specializing in garment manufacturing, logistics services, and property management and subleasing. For more information about the Company, please visit the website: https://www.addentax.com/.

Caution Concerning Forward Looking Statements

All statements other than statements of historical fact in this announcement are forward-looking statements in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, the Company’s and Well InfoTech’s expectations with respect to the Agreement, the valuation of Well InfoTech including the products it offers and the markets in which it operates, and the Company and Well InfoTech’s projected future results, and known and unknown risks and uncertainties which 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. Words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions are intended to identify such forward-looking statements. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to consider risk factors, including those described in the Company’s filings with the U.S. Securities and Exchange Commission, that may affect the Company’s future results. All forward-looking statements attributable to the Company and its subsidiaries or persons acting on their behalf are expressly qualified in their entirety by these risk factors. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. These forward-looking statements are based on information currently available to Addentax and its current plans or expectations and are subject to a number of known and unknown uncertainties, risks and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to (i) risks related to the purchase of shares of Well InfoTech’s common stock, including risks related to the Company’s ability to realize some or all of the anticipated benefits from the purchase of the shares of Well InfoTech’s common stock, and (ii) other risks as set forth from time to time in the Company’s filings with the U.S. Securities and Exchange Commission, including the factors described in detail in the “Risk Factors” section of Addentax’s Annual Report on Form 10-K for the year ended March 31, 2024. Although we believe the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur, except as may be required by law.

Company Contact:

Public Relations Contact:
Addentax Group Corp.
Phone: + (86) 755 86961 405
xinyee.lee@zgyingxi.com 

Investor Relations Contact:

Sherry Zheng
Weitian Group LLC
1-718-213-7386
shunyu.zheng@weitian-ir.com 

WXT Surged 101% in 24 hours, And the Price Exceeded $0.339.Why Can WXT Go to the Moon?

SINGAPORE, Jan. 13, 2025 /PRNewswire/ — Platform tokens have gained increased attention in this bull market, with notable examples from leading exchanges. Amid this surge, WXT, the native token of WEEX Exchange, has seen extraordinary growth, climbing 101% within 24 hours on January 11.

Token

BGB

OKB

BNB

MX

WXT

Opening Price

$0.0585

$1.58

$0.15

$0.009157

$0.0100

Price One Year Ago

$0.6002

$53.55

$302.07

$2.7978

N/A

Current Price

$6.73

$46.66

$681.33

$3.60

$0.0333

Year-To-Date Growth

1021.29 %

-12.87 %

125.55 %

22.28 %

N/A

All-Time High Price Change

14412.82 %

4572.78 %

5288 %

63785.55 %

233 %

Market Cap

$8.08B

$13.99B

$98.11B

$3.6B

$83.19M

Citation: https://coinmarketcap.com/currencies/weex-token/

This development coincides with WEEX’s ongoing global expansion. As a rapidly growing cryptocurrency exchange, WEEX continues to increase its presence in the competitive marketplace, with WXT emerging as an integral part of its ecosystem.

All-Time High Price Change (Latest Updated on 13/1/2025)
All-Time High Price Change (Latest Updated on 13/1/2025)

This surge comes as WEEX, continues to expand its global presence. WXT’s price trajectory reflects the growing influence of WEEX in the competitive cryptocurrency market.

WXT: Reflecting WEEX’s Rapid Growth

As Andrew Weiner, Vice President of WEEX, highlighted in a recent annual update, “WXT has achieved a price increase of nearly 450% since its issuance. And WXT’s trajectory mirrors WEEX’s incredible journey of growth.”

To further enhance its global outreach, WEEX has partnered with renowned football star Michael Owen as a brand ambassador. This collaboration aims to build increased brand visibility, positioning WEEX as a widespread and innovative platform in the cryptocurrency space.

According to the WEEX white paper, WXT’s ecosystem offers diverse utilities for its holders, including trading fee discounts, staking rewards, early access to new projects, and participation in airdrops. Additionally, WEEX has implemented a strategic buyback and burn mechanism, reducing WXT’s circulating supply as part of its ecosystem development strategy. These features position WXT as a multifunctional token that appeals to both active traders and long-term participants within the ecosystem.

Exchange Tokens and Their Growing Potential

This bull market has further cemented the role of platform tokens as integral components of exchange ecosystems. Platform tokens have shown their ability to enhance user engagement by offering features such as fee adjustments and access to platform-specific benefits. As WXT gains momentum, how will it evolve within the ecosystem and shape its role in the platform token landscape? While its recent performance is promising, only time will tell if WXT can achieve the same level of success as its peers.

About WEEX

Founded in 2018, WEEX Exchange swiftly rose to prominence as a key global player in the cryptocurrency sphere. Boasting a diverse selection of over 1,000 trading pairs and spearheading a zero trading fee initiative for new token introductions, WEEX Exchange has earned widespread recognition throughout the industry. Introducing “WEEX WE-Launch,” a portal to exciting opportunities that empower users to acquire WXT tokens and engage in exclusive token giveaways, signaling a new chapter of participation and empowerment. With an active user base exceeding 5 million, WEEX Exchange has solidified its standing as a top 5 platform on CoinMarketCap, underscoring its unwavering commitment to excellence.

For more information:

Gorilla Addresses Market Misinformation and Announces Increase to Share Buyback Programme


London, United Kingdom – Newsfile Corp. – January 13, 2025 – Gorilla Technology Group Inc. (NASDAQ: GRRR) (“Gorilla” or the “Company”) CEO Jay Chandan responded to recent market concerns raised by shareholders following the stock’s recent fluctuation and reiterated the Company’s strong financial position and strategic priorities. The Company remains focused on delivering sustainable growth, building its robust pipeline and creating long-term value for shareholders.

A Message to Our Valued Investors

We appreciate the dedication and resilience of our shareholders who have supported Gorilla during both favourable times and challenging periods. We understand the frustration and concerns many of you may feel during this period of market volatility and assure you that your trust in us is well placed. Gorilla remains firmly committed to delivering results that reinforce the value of your investment and to maintaining transparent communication as we move forward.

Update on Buyback Programme and Management Intention to Purchase Shares

Over the weekend, we convened a meeting of the Company’s board of directors to address the recent market activity. The board formally approved an increase to the programme from $6 million to $10 million, demonstrating our collective view that the Company’s share price fails to reflect our intrinsic value and long-term potential and is undervalued compared to other companies in the market.

As previously disclosed, $3.8 million of our previously announced allocation has been used to repurchase shares in privately negotiated transactions. We also previously announced that members of our board and management team intended to purchase shares in the Company so long as the disconnect between its share price and our business performance remains. The limitation we have experienced to date in negotiating private repurchases and a lack of announced insider share purchases are due to securities law restrictions applicable due to our possession of material non-public information regarding the Company. While we are continuing discussions with shareholders on private share repurchases, it is our intent to expand the buyback program to open-market purchases following our 2024 fiscal earnings release, when we hope to be able to disclose to the market all material information, including the status of project wins and bids. Likewise, our board and management team are looking forward to being able to purchase shares or enter into purchase plans when permitted by securities laws, and our commitment to moving to quarterly reporting in 2025 will facilitate both of these activities.

Addressing Market Misinterpretations and Misrepresentations

In light of the recent volatility, I believe it is crucial to address and clarify a few key misconceptions in the market:

  1. Preferred Share Conversions and Warrant Exercises: On January 6, 2025, we announced the Company’s updated share count of 18,464,651 shares outstanding following the conversion of all of our preferred shares and proceeds from exercises of a majority of the related warrants. These share conversions and warrant exercises relate to securities issued as part of financing arrangements in September 2023 and February and June 2024 and do not reflect any new equity issuance by the Company. These securities were already disclosed and known to the market and no additional dilution has occurred. These conversions happened solely at the discretion of the holders of the instruments and the Company had no control over them. The funds raised by the warrant exercises further bolstered our cash position to the current $47 million, and will help us finance new projects without requiring any dilutive transactions
  2. Reliance on a Single Contract: We have observed claims that Gorilla is largely or wholly dependent on a single client. Such claims are entirely false. Our entry into our MENA contract was a defining moment for the Company, but we have since dramatically grown our pipeline and secured multiple additional contracts. Our transformative MENA project has helped underpin our ability to manage large-scale projects and, as previously disclosed, we are in active discussions on many additional opportunities and working with many leading partners. Our pipeline, which spans multiple sectors and regions, continues to grow and is designed to support sustained revenue growth throughout 2025 and well into 2026.
  3. Gorilla’s Cash Flow Conversion: We were alerted to an article released on Seeking Alpha regarding the Company’s cash flow conversion. The article is based on incomplete information and misrepresents Gorilla’s actual performance in this metric. The article cited data from our financials for the first half of 2024 and fails to reflect the inflow of cash received in July related to our MENA project (as noted in our August 26 press release and as will be better reflected in our audited financial statements for 2024). We have been continuing to meet and in some cases even exceed the timetables for our projects and expect to recognize revenue and receive cash payments on timing consistent with our internal projections. At present, we have over $30 million of invoices outstanding to government customers and expect to receive over $50 million in payments by the end of the first quarter of 2025.

We remain committed to combating any market activity that we believe crosses the line into illegal market manipulation. Despite our repeated attempts to engage with the SEC, we have not observed meaningful progress in the SEC’s investigation. We will continue to present the SEC with evidence, that we believe indicates that our stock is being manipulated and will continue to press regulators to investigate actions that are harming our shareholders.

Showcasing Our Winning Strategy

To our shareholders, rest assured that our dedicated team is working tirelessly to ensure the company’s success and long-term value creation. We are resolute in our commitment to transparency, justice, and defending our company against those who seek to undermine its potential. We are laser-focused on executing our contracts, delivering on our commitments and building an even stronger foundation for the future.

Gorilla is entering 2025 with exceptional momentum, evidenced by several significant milestones and partnerships. Our approach to growth is built on delivering transformative solutions and fostering key collaborations. Recent highlights include:

  • Consortium with NC Digy, Smart Cities, and AECOM: We recently signed an MoU to transform Santa Marta into an AI-powered smart city. This project, with leading partners, underscores our leadership in leveraging AI for urban innovation and positions us at the forefront of smart city development.
  • Cutting Edge AI Contracts in Taiwan: At the end of 2024 we announced two contract wins in Taiwan that reflect our growing strength in AI-powered technology solutions. We are looking to continue to develop of reputation as a leader in the markets we serve.
  • Growing Backlog and Robust Pipeline Lead Momentum into 2025: The Company enters 2025 with a $93 million backlog (i.e., signed contracts), excluding any additional project wins that we will disclose in the future. As shared during our recent investor webinar, our pipeline now exceeds $2 billion of project opportunities spanning multiple years. Our approach of setting guidance solely based on active contracts and delivery schedules should give investors confidence in our financial projections.

The level of visibility in our business and confidence in our ability to deliver on financial projections is a testament to our operational strength and strategic planning. Moreover, we foresee a robust 2026, driven by our exciting backlog and anticipated contract wins. This positions us firmly on a sustainable growth trajectory and reinforces our commitment to delivering long-term value for our investors.

Additional Questions from Our Shareholders

We appreciate the thoughtful questions that are regularly submitted by our dedicated shareholder community. Below I have addressed some other recent inquiries:

  1. Update on $430 Million Southeast Asia Contract: Contracts with governments require careful negotiation and time to finalise, often involving strict confidentiality agreements. While I understand the market’s eagerness for information, I want to assure you that we are adhering to these necessary processes. We will provide full and transparent updates once the signing is complete and we receive final approval from our customer. Rest assured, discussions remain on track and we are committed to keeping our investors informed at the appropriate time.
  2. Seattle Office and U.S. Contracts: The opening of our Seattle office marks a significant milestone in expanding our presence in the U.S. market, a region with immense potential for growth. While the significant contract mentioned in the December webinar is progressing well, I want to emphasize that these negotiations require careful handling and confidentiality. I remain optimistic about the outcome and assure you that we will share updates once all necessary approvals are secured. Additionally, we are actively pursuing further opportunities in this critical market to strengthen our position and deliver long-term value.

To all our shareholders:

We are working tirelessly to protect your interests and honour the belief you have placed in us. Your steadfast support reminds us of why we started this journey and motivates us to deliver on our promises with renewed vigour.

You are not just investors to us – you are partners in this mission. I give you my word that we will continue to prioritise transparency, accountability and progress as we chart a path to shared success.

About Gorilla Technology Group Inc.

Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies.

Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents.

For more information, please visit our website: Gorilla-Technology.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Gorilla’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding our beliefs about our ability to service our customers, to finance additional projects, to attract the attention of customers and win additional projects, along with those other risks described under the heading “Risk Factors” in the Form 20-F Gorilla filed with the Securities and Exchange Commission (the “SEC”) on May 15, 2024 and those that are included in any of Gorilla’s future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Gorilla and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Gorilla undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

Investor Relations Contact:

Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
GRRR@redchip.com

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

About Gorilla Technology Group Inc.