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Enghouse Releases Second Quarter Results

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MARKHAM, ON, June 10, 2024 /CNW/ – Enghouse Systems Limited (TSX: ENGH) announces second quarter (unaudited) financial results for the period ended April 30, 2024. All figures are denominated in Canadian dollars unless otherwise indicated.

Highlights for the Second Quarter ended April 30, 2024 compared to the same quarter in the prior year:

Revenue increased 10.9% to $125.8 million.Recurring revenue, which includes SaaS and maintenance services, grew 18.6% to $85.0 million, and represents 67.5% of total revenue.Operating profits increased 30.5% to $33.5 million, while achieving a 28.4% EBITDA margin.

Financial results for the three and six months ended April 30, 2024, compared to the three and six months ended April 30, 2023, are as follows:

Revenue increased to $125.8 and $246.3 million, respectively, compared to revenue of $113.5 and $219.9 million;Results from operating activities was $33.5 and $66.1 million, respectively, compared to $25.6 and $55.5 million;Net income was $20.0 and $38.1 million, respectively, compared to $12.5 and $29.6 million;Adjusted EBITDA was $35.7 and $70.4 million, respectively, compared to $30.2 and $62.5 million;Cash flow from operating activities, excluding changes in working capital, was $38.6 and $74.2 million, respectively, compared to $28.9 and $61.5 million resulting in record cash and cash equivalents of $263.8 million.

Our strong performance this quarter is demonstrated by double-digit growth in revenue, profitability and operating cash flows. Our proficiency in executing and integrating acquisitions continues to be a crucial profit growth driver. This quarter we completed the acquisition of Mediasite, which expanded our video technology into the education and event market and increased our presence in Japan.

Our business model continues to prioritize operational discipline as the demand for SaaS increases. Operational expenditures have shown improvement when compared to revenue both for the quarter and period to date, despite inflationary pressures and integrating acquisitions. Continued discipline in our business activities has increased our cash and cash equivalents to the record level of $263.8 million, with no external debt, while increasing our dividend, repurchasing shares, and completing and integrating the Mediasite acquisition in the quarter.

Subsequent to quarter-end on May 9, 2024, Enghouse completed its acquisition of substantially all of the assets of SeaChange International, Inc. (“SeaChange”) related to its IPTV products and services business, for a net purchase price of approximately US$23 million. This acquisition increases the scale of our IPTV business, augments our product offering and furthers our expansion into the European market. SeaChange will be integrated within the Asset Management Group from the date of acquisition.

Quarterly dividends:          

Today, the Board of Directors approved the Company’s eligible quarterly dividend of $0.26 per common share payable on August 30, 2024 to shareholders of record at the close of business on August 16, 2024.

Enghouse Systems Limited

Financial Highlights
(unaudited, in thousands of Canadian dollars)

 

For the period ended April 30

Three months

Six months

2024

2023

Var ($)

Var (%)

2024

2023

Var ($)

Var (%)

Revenue

$

125,813

$

113,461

12,352

10.9

$

246,302

$

219,896

26,406

12.0

Direct costs

43,201

38,106

5,095

13.4

84,783

72,914

11,869

16.3

Revenue, net of direct costs

$

82,612

$

75,355

7,257

9.6

$

161,519

$

146,982

14,537

9.9

As a % of revenue

65.7 %

66.4 %

65.6 %

66.8 %

Operating expenses

49,031

47,712

1,319

2.8

95,211

89,422

5,789

6.5

Special charges

106

2,001

(1,895)

(94.7)

197

2,029

(1,832)

(90.3)

Results from operating activities

$

33,475

$

25,642

7,833

30.5

$

66,111

$

55,531

10,580

19.1

As a % of revenue

26.6 %

22.6 %

26.8 %

25.3 %

Amortization of acquired software and
customer relationships

(11,146)

(9,838)

(1,308)

(13.3)

(21,520)

(18,670)

(2,850)

(15.3)

Foreign exchange losses

(86)

(790)

704

89.1

(1,803)

(1,843)

40

2.2

Interest expense – lease obligations

(148)

(192)

44

22.9

(298)

(359)

61

17.0

Finance income

2,602

1,006

1,596

158.6

4,963

1,982

2,981

150.4

Finance expenses

(12)

(124)

112

90.3

(12)

(131)

119

90.8

Other income (expenses)

220

( 528)

748

141.7

106

(655)

761

116.2

Income before income taxes

$

24,905

$

15,176

9,729

64.1

$

47,547

$

35,855

11,692

32.6

Provision for income taxes

4,931

2,640

2,291

86.8

9,440

6,296

3,144

49.9

Net Income for the period

$

19,974

$

12,536

7,438

59.3

$

38,107

$

29,559

8,548

28.9

Basic earnings per share

0.36

0.23

0.13

56.5

0.69

0.53

0.16

30.2

Diluted earnings per share

0.36

0.23

0.13

56.5

0.69

0.53

0.16

30.2

Operating cash flows

40,256

18,698

21,558

115.3

60,155

47,960

12,195

25.4

Operating cash flows excluding changes
   in working capital

38,613

28,875

9,738

33.7

74,170

61,507

12,663

20.6

Adjusted EBITDA

Results from operating activities

33,475

25,642

7,833

30.5

66,111

55,531

10,580

19.1

Depreciation

551

613

(62)

10.1

1,045

1,239

(194)

15.7

Depreciation of right-of-use assets

1,570

1,931

(361)

18.7

3,076

3,667

(591)

16.1

Special charges

106

2,001

(1,895)

94.7

197

2,029

(1,832)

90.3

Adjusted EBITDA

$

35,702

$

30,187

5,515

18.3

$

70,429

$

62,466

7,963

12.7

Adjusted EBITDA margin

28.4 %

26.6 %

28.6 %

28.4 %

Adjusted EBITDA per diluted share

$

0.64

$

0.54

0.10

18.5

$

1.27

$

1.13

0.14

12.4

 

Condensed Consolidated Interim Statements of Financial Position

(in thousands of Canadian dollars)

(unaudited)

   As at April 30,
2024

As at October 31,
2023

ASSETS

Current assets:

   Cash and cash equivalents

$

262,918

$

239,532

   Short-term investments

854

827

   Accounts receivable

110,965

93,383

   Prepaid expenses and other assets

17,369

15,515

   Income taxes recoverable

114

392,106

349,371

Non-current assets:

   Property and equipment

3,328

3,273

   Right-of-use assets

9,966

12,242

   Intangible assets

98,253

109,659

   Goodwill

292,990

280,241

   Deferred income tax assets

25,422

28,884

429,959

434,299

$

822,065

$

783,670

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

   Accounts payable and accrued liabilities

$

70,229

$

67,769

   Income tax payable

1,500

   Dividends payable

14,398

12,156

   Provisions

1,420

2,238

   Deferred revenue

130,273

109,019

   Lease obligations

5,733

6,322

223,553

197,504

Non-current liabilities:

   Income taxes payable

1,333

   Deferred income tax liabilities

11,897

13,340

   Deferred revenue

7,752

8,170

   Net employee defined-benefit obligation

1,922

1,912

   Lease obligations

4,337

6,080

25,908

30,835

249,461

228,339

 

Shareholders’ equity:

   Share capital

113,237

107,701

   Contributed surplus

10,252

10,404

   Retained earnings

436,848

426,397

   Accumulated other comprehensive income

12,267

10,829

572,604

555,331

$

822,065

$

783,670

 

Condensed Consolidated Interim Statements of Operations and Comprehensive Income

(in thousands of Canadian dollars, except per share amounts)

(unaudited)                                            

Three months

Six months

Periods ended April 30

2024

2023

2024

2023

Revenue

     Software licenses

 

$  20,492

$  22,016

 

$  37,467

$  42,751

     SaaS and maintenance services

84,984

71,634

169,571

138,137

     Professional services

17,401

17,995

33,346

34,886

     Hardware

2,936

1,816

5,918

4,122

125,813

113,461

246,302

219,896

Direct costs

     Software licenses

741

698

1,415

1,568

     Services

40,951

36,793

80,482

69,218

     Hardware

1,509

615

2,886

2,128

43,201

38,106

84,783

72,914

Revenue, net of direct costs

82,612

75,355

161,519

146,982

Operating expenses

     Selling, general and administrative

24,812

23,935

47,681

44,733

     Research and development

22,098

21,233

43,409

39,783

     Depreciation

551

613

1,045

1,239

     Depreciation of right-of-use assets

1,570

1,931

3,076

3,667

     Special charges

106

2,001

197

2,029

49,137

49,713

95,408

91,451

Results from operating activities

33,475

25,642

66,111

55,531

Amortization of acquired software and customer relationships   

(11,146)

(9,838)

(21,520)

(18,670)

Foreign exchange losses

(86)

(790)

(1,803)

(1,843)

Interest expense – lease obligations

(148)

(192)

(298)

(359)

Finance income

2,602

1,006

4,963

1,982

Finance expenses

(12)

(124)

(12)

(131)

Other income (expenses)

220

(528)

106

( 655)

Income before income taxes

24,905

15,176

47,547

35,855

Provision for income taxes

4,931

2,640

9,440

6,296

Net income for the period

19,974

12,536

38,107

29,559

 

Item that may be subsequently reclassified to income:

Cumulative translation adjustment

9,455

11,295

1,438

21,038

Other comprehensive income

9,455

11,295

1,438

21,038

Comprehensive income

$  29,429

$    23,831

$  39,545

$  50,597

Earnings per share

Basic

$      0.36

$      0.23

$      0.69

$      0.53

Diluted

$      0.36

$      0.23

$      0.69

$      0.53

 

Condensed Consolidated Interim Statements of Cash Flows

(in thousands of Canadian dollars)

(unaudited)

 

Three months

 

Six months

Periods ended April 30

2024

2023

2024

2023

 

OPERATING ACTIVITIES

Net income for the period

$    19,974

$    12,536

$    38,107

$    29,559


Adjustments for non-cash items

   Depreciation

551

613

1,045

1,239

   Depreciation of right-of-use assets

1,570

1,931

3,076

3,667

   Interest expense – lease obligations

148

192

298

359

   Amortization of acquired software and customer relationships

11,146

9,838

21,520

18,670

   Stock-based compensation expense

501

473

778

931

   Provision for income taxes

4,931

2,640

9,440

6,296

   Finance expenses and other (income) expenses

(208)

652

(94)

786

38,613

28,875

74,170

61,507

Changes in non-cash operating working capital

6,651

(5,989)

(6,489)

(3,987)

Income taxes paid

(5,008)

(4,188)

(7,526)

(9,560)

Net cash provided by operating activities

40,256

18,698

60,155

47,960

INVESTING ACTIVITIES

Net purchase of property and equipment

(418)

(66)

(778)

(171)

Acquisitions, net of cash acquired*

(12,594)

(25,617)

(12,594)

(25,617)

Purchase consideration for prior-year acquisition

233

171

233

Purchase of short-term investments

(69)

Net cash used in investing activities

(13,012)

(25,450)

(13,201)

(25,624)

FINANCING ACTIVITIES

Issuance of share capital

373

4,683

604

Normal course issuer bid share repurchases

(1,147)

(1,147)

Repayment of lease obligations

(1,798)

(2,470)

(3,400)

(4,280)

Dividends paid

(12,188)

(10,225)

(24,344)

(20,446)

Net cash used in financing activities

(14,760)

(12,695)

(24,208)

(24,122)

 

Impact of foreign exchange on cash and cash equivalents

3,682

3,797

640

 

8,833

Increase (decrease) in cash and cash equivalents

16,166

(15,650)

23,386

7,047

Cash and cash equivalents – beginning of period

246,752

247,801

239,532

225,104

Cash and cash equivalents – end of period

$  262,918

$  232,151

$  262,918

$  232,151

* Acquisitions are net of cash acquired of $497 for the three and six months ended April 30, 2024 and $2,088 for the three and six months ended April 30, 2023, respectively. 

Enghouse Systems Limited
Segment Reporting Information
(in thousands of Canadian dollars)

Three months ended April 30

2024

2023

IMG

AMG

Total

IMG

AMG

Total

Revenue

$

80,530

$

45,283

$

125,813

$

64,578

$

48,883

$

113,461

Direct costs

(26,573)

(16,628)

(43,201)

(19,133)

(18,973)

(38,106)

Revenue, net of direct costs

53,957

28,655

82,612

45,445

29,910

75,355

Operating expenses excluding special charges

(23,483)

(11,751)

(35,234)

(23,034)

(12,596)

(35,630)

Depreciation

(392)

(159)

(551)

(544)

(69)

(613)

Depreciation of right-of-use assets

(997)

(573)

(1,570)

(941)

(990)

(1,931)

Segment profit

$

29,085

$

16,172

$

45,257

$

20,926

$

16,255

$

37,181

Special charges

(106)

(2,001)

Corporate and shared service expenses

(11,676)

(9,538)

 

Results from operating activities

 

$

 

33,475

 

$

 

25,642

 

Six months ended April 30

2024

2023

IMG

AMG

Total

IMG

AMG

Total

Revenue

$

156,666

$

89,636

$

246,302

$

122,431

$

97,465

$

219,896

Direct costs

(51,979)

(32,804)

(84,783)

(35,564)

(37,350)

(72,914)

Revenue, net of direct costs

104,687

56,832

161,519

86,867

60,115

146,982

Operating expenses excluding special charges

(44,909)

(23,447)

(68,356)

(42,285)

(23,916)

(66,201)

Depreciation

(769)

(276)

(1,045)

(1,081)

(158)

(1,239)

Depreciation of right-of-use assets

(1,933)

(1,143)

(3,076)

(2,041)

(1,626)

(3,667)

Segment profit

$

57,076

$

31,966

$

89,042

$

41,460

$

34,415

$

75,875

Special charges

(197)

(2,029)

Corporate and shared service expenses

(22,734)

(18,315)

 

Results from operating activities

 

$

 

66,111

 

$

 

55,531

About Enghouse

Enghouse is a Canadian publicly traded company (TSX:ENGH) that provides mission-critical vertically focused enterprise software solutions. Our core technologies are used for contact centers, video communications, virtual healthcare, telecommunications networks, public safety and the transit market. The Company’s two-pronged growth strategy to grow earnings focuses on organic growth and acquisitions, which, to date, have been funded through operating cash flows as the Company has no outstanding external debt financing. The Company is organized around two business segments, the Interactive Management Group (“IMG”) and the Asset Management Group (“AMG”) due to their unique customer segments and technology offerings. Further information about Enghouse may be obtained from the Company’s website at www.enghouse.com

Conference Call and Webcast

A conference call to discuss the results will be held on Tuesday, June 11, 2024 at 8:45 a.m. EST. To participate, please call
+1-289-514-5100 or North American Toll-Free +1-800-717-1738. Confirmation code: 14684. A webcast is also available at: https://www.enghouse.com/investors.php.

The Company uses non-IFRS measures to assess its operating performance. Securities regulations require that companies caution readers that earnings and other measures adjusted to a basis other than IFRS do not have standardized meanings and are unlikely to be comparable to similar measures used by other companies. Accordingly, they should not be considered in isolation. The Company uses Adjusted EBITDA as a measure of operating performance. Therefore, Adjusted EBITDA may not be comparable to similar measures presented by other issuers. Adjusted EBITDA is calculated based on results from operating activities adjusted for depreciation of property and equipment and right-of-use assets, and special charges for acquisition related restructuring costs. Management uses Adjusted EBITDA to evaluate operating performance as it excludes amortization of software and intangibles (which is an accounting allocation of the cost of software and intangible assets arising on acquisition), any impact of finance and tax related activities, asset depreciation, foreign exchange gains and losses, other income and restructuring costs primarily related to acquisitions.

SOURCE Enghouse Systems Limited

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LG INSTAVIEW™ REFRIGERATOR SURPASSES 5.3 MILLION IN GLOBAL SALES

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Chosen by Customers Worldwide, LG’s Instaview Refrigerator Innovation Continues to Redefine the Kitchen Experience a Decade After Its Debut

News Summary

LG Electronics’ InstaView™ refrigerator celebrates the 10th anniversary of its 2016 launch by exceeding 5.3 million units in cumulative global sales.LG’s iconic “Knock Twice, See Inside” feature broke convention, offering a blend of user convenience, energy efficiency, and aesthetic value that set a new industry standard.LG InstaView refrigerators continue to gain traction worldwide, leading the refrigerator category in North America while seeing significant growth across Europe, Asia and Latin America.Over the past decade, LG InstaView refrigerator has won numerous prestigious design and innovation awards, including Red Dot, iF, IDEA and CES.

SEOUL, South Korea, July 24, 2026 /PRNewswire/ — LG Electronics’ (LG) InstaView™ refrigerator, which allows users to see inside without opening the door, has reached a major milestone on its 10th anniversary, surpassing 5.3 million units in cumulative global sales since its 2016 launch.

Trusted by Consumers Around the World

Since launching the LG InstaView refrigerator in 2016, LG has sold a remarkable 5.3 million units – equivalent to selling roughly one unit every minute.

LG InstaView refrigerator has seen strong customer demand globally, with North America representing its strongest market and accounting for about 30 percent of cumulative sales to date. In Europe, InstaView refrigerator has also been well received by consumers who place high value on energy efficiency, sustainability and food preservation performance. Sales are also steadily rising in Asia and Latin America, driven by growing demand for premium appliances.

An Innovation That Redefined the Refrigerator

InstaView redefined how consumers interact with their refrigerators by allowing them to see inside without opening the door. This feature allows users to check the fridge’s contents without opening the door and helps reduce unnecessary cold-air loss associated with frequent door opening. Over the past decade, its innovation has been recognized by international media and honored with numerous accolades from major global design and innovation awards, including the Red Dot Design Award, iF Design Award, IDEA, and the CES Innovation Award.

From Functional Benefit to Lifestyle Value

LG’s analysis of global customer reviews shows that consumer appreciation for the InstaView refrigerator and its eponymous feature has evolved over time, shifting from an initial focus on the functional benefits to the overall sense of satisfaction that it provides. While early feedback centered on the convenience of knocking twice to see inside and the reduction of cold air loss, more recent reviews increasingly highlight InstaView’s refined design and the enjoyment it brings to everyday kitchen use.

“For a decade now, LG InstaView refrigerator has stood as a testament to our leadership in the home appliance market and to our deep understanding of customers’ lifestyles,” said Baek Seung-tae, president of the LG Home Appliance Solution Company. “This milestone reflects our success in creating not just an innovative feature, but a more convenient and enjoyable kitchen experience. Building on our advanced AI, refrigeration and food preservation technologies, we will continue to lead the evolution of the kitchen experience with customer-centric innovations.”

About LG Electronics Home Appliance Solution Company

The LG Home Appliance Solution Company (HS) is a global leader in home appliances and AI home solutions. By leveraging industry-leading core technologies, the HS Company is committed to enhancing consumers’ quality of life and promoting sustainability. The company develops thoughtfully designed kitchen and living appliance solutions and has recently integrated LG’s Robot Business Division to incorporate advanced robot technologies into its home solutions. Together, these products offer enhanced convenience, exceptional performance, efficient operation and sustainable lifestyle solutions. For more news on LG, visit www.LG.com/global/newsroom/

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/lg-instaview-refrigerator-surpasses-5-3-million-in-global-sales-302833865.html

SOURCE LG Electronics

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Alpha Ladder Hosts Globalization Forum, Debuts Proprietary AI Platform AgentX

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HONG KONG, July 24, 2026 /PRNewswire/ — On 9 July, Alpha Ladder hosted a tech globalization forum at LEAP East 2026 in Hong Kong under the theme “Connecting Industrial Innovation, Unlocking New Global Growth Opportunities” — and used the occasion to officially unveil AgentX, its proprietary AI‑powered solution.

The session brought together more than a dozen distinguished speakers from sectors spanning artificial intelligence, embodied intelligence, biotechnology, fintech, enterprise services, and legal — all of whom shared first‑hand observations and practical experience navigating global expansion.

Paul Pang, Head of AI at Alpha Ladder, unveiled the Group’s new financial AI agent, AgentX, during the product launch. He observed that the rapid proliferation of AI agents has rendered traditional cross‑border financial delivery models ill‑suited to the evolving AI industry landscape. Conventional local plugin integrations carry significant risks, including code tampering, data leakage, and compromised asset security.

He also noted that expanding enterprises frequently face a persistent disconnect between their business tools and financial pipelines. Core operational systems — covering expense reimbursement, payroll, and account reconciliation — often operate in silos, isolated from cross‑border payment and treasury management frameworks. The resulting reliance on manual workflows leads to chronic inefficiency and inflated operating costs.

To tackle these industry pain points head‑on, Alpha Ladder introduced AgentX — a purpose‑built platform grounded in its proprietary AI‑native architecture. Powered by the Core Finance skill suite and the standardised MCP protocol, AgentX is compatible with all major large language models and enables AI agents to directly access Alpha Ladder’s full spectrum of cross‑border financial services.

The platform is further equipped with VisionX, an intelligent risk control engine that performs cross‑verification across multiple data sources to significantly sharpen the detection of on‑chain risks. A built‑in regulatory sandbox ensures full segregation of transactions and data within compliance boundaries, effectively closing critical security gaps that have long plagued the industry.

Beyond its core risk and compliance capabilities, AgentX offers extensive ecosystem adaptability, enabling rapid integration with vertical use cases such as travel reimbursement, global payroll, and asset management — creating a unified, closed‑loop framework that bridges business operations and finance. Through its open ecosystem model, AgentX empowers small and mid‑sized enterprises expanding globally by tearing down the silos between operational workflows and cross‑border financial services. In doing so, it delivers one‑stop, intelligent cross‑border financial services and drives comprehensive AI‑driven transformation across globalising industries.

Yao Yuan, Vice President of AgiBot for MENA, Turkey, and Asia Pacific, remarked that 2026 marks the year AgiBot transitions from R&D to commercial deployment. Having spent the previous three years honing its products and technology while consolidating its position in the domestic market, the company is now scaling up commercial operations and accelerating its global expansion.

He articulated three core pillars underpinning AgiBot’s global strategy. First, the company is moving to seize the critical window for mass industrial adoption as the embodied intelligence sector enters a new growth cycle. Second, humanoid robots are emerging as a key enabler of industrial upgrading and national digital transformation strategies across economies. Third, overseas deployment, data accumulation, and localized delivery are creating a valuable feedback loop — one that feeds back into domestic R&D and forms a closed loop connecting global technology development with commercial execution.

Luo Yi, General Manager of 51Aes South China (a subsidiary of 51World), shared that the company was officially listed on the Hong Kong Stock Exchange on 30 December 2025 under the ticker 6651.HK. Guided by its vision to digitally replicate the Earth’s 510 million square kilometres, 51World is committed to building a seamless bridge between the digital and physical worlds.

As the industry enters a new era of Physical AI, physically accurate digital simulation environments have become a fundamental prerequisite for large‑scale training of embodied intelligent systems. Leveraging three core pillars — global spatial foundation models, simulation training platforms, and synthetic data pipelines — the company has built a complete, closed-loop technology system. Its commercial portfolio comprises three flagship offerings: the 51Aes digital twin platform, the 51Sim synthetic data and simulation platform, and the 51Earth digital earth platform.

As the core engine powering Physical AI, 51Sim delivers high‑fidelity simulation training environments and robust synthetic data generation capabilities for embodied intelligence sectors including autonomous driving, smart equipment, and robotics. It enables efficient training and validation of AI systems within virtual environments and currently serves over 100 enterprise clients across autonomous mobility and embodied intelligence verticals. Looking ahead, the company will continue to deepen the integration of AI with the real economy, unlocking greater technological value and industrial impact across broader global markets.

Xu Leyang, Co‑founder of Seekee, observed that vast segments of the global population have yet to gain meaningful access to AI. With “everyday users” at the heart of its mission, Seekee is building accessible, consumer‑facing AI products tailored for the world’s two billion ordinary people.

The team has strategically focused on Latin America — an underserved blue‑ocean market largely overlooked by major tech players. Few leading global large language models have dedicated meaningful R&D or localisation efforts to Spanish and Portuguese, the region’s dominant languages. By capitalising on the region’s distinctive linguistic landscape, local user behaviour patterns, and a proprietary repository of region‑specific language data amassed over time, Seekee has built a competitive moat that is difficult to replicate.

According to Sensor Tower, a mobile analytics platform, Seekee ranked eighth globally in the 2025 generative AI app download charts. Within Latin America, its brand recognition is on par with ChatGPT. Launched just over a year ago, the platform has already amassed tens of millions of monthly active users and demonstrated strong user retention.

Wu Xin, Partner and Global Head of AI Applications at BorderX Lab, delivered a presentation themed “Power of Agent Plus.” Drawing on real‑world deployments within the fashion and luxury sectors, he explained that AI agents are fundamentally reshaping traditional cross‑border industries and unlocking significant efficiency gains across the entire value chain.

E‑commerce, he noted, is undergoing a paradigm shift. Competition has moved beyond capturing user attention to precisely identifying consumer intent, with AI agents emerging as a critical instrument for surfacing latent global consumption demand. Powered by proprietary technology and data infrastructure, BorderX Lab has built a global consumer network that is helping redefine how Chinese cross‑border consumer tech reaches the world.

He further observed that agent‑enabled payments will form the bedrock of agent‑driven e‑commerce, and expressed optimism about jointly exploring blue‑ocean opportunities with Alpha Ladder.

Yang Mingyuan, Senior Investment & Financing Manager at QCraft, observed that among the broader Physical AI landscape, autonomous driving stands out as the first segment to achieve mass production at scale, sustainable commercial profitability, and rapid real‑world deployment.

The company’s core competitive advantage lies in its unified, self‑developed technical foundation — one that underpins both its L2+ advanced driver assistance systems and its multi‑scenario L4 autonomous driving capabilities. This homologous architecture also serves as a strategic springboard for QCraft’s broader push into general Physical AI. Its fully in‑house toolchain and data platform form a formidable competitive moat, while the company’s “Autonomous Driving Super Factory” system standardises the entire model training and simulation testing lifecycle — covering the full data pipeline to enable continuous, high‑velocity iteration and optimisation of its algorithm models.

He Liang, Chief Financial Officer of Yidianyun, shared that the company — a leading domestic provider of office IT infrastructure — is now pivoting to become an office AI infrastructure enabler. Its mission is to lower the barrier to AI compute access for enterprises through remanufacturing technology and subscription‑based models.

Yidianyun has built a four‑tier business framework that underpins its cost and service advantages, with a strategic focus on edge‑side AI hardware across AI PCs, AI workstations, and AI servers. He noted that direct procurement of AI hardware entails substantial one‑off capital expenditure for small and medium‑sized enterprises. Subscription models, by contrast, significantly ease funding pressure and hedge against upfront investment risk — a key factor driving the rapid growth of its proprietary AI workstation business.

For overseas expansion, Yidianyun plans to launch pilot cross‑border operations from Hong Kong as its initial hub, with the potential to extend its reach to additional international markets in due course.

Liu Chenxin, Assistant to the Director of the National Institute of Biological Sciences, Beijing (NIBS), shared insights at the forum. With a strong track record in research commercialisation, NIBS has incubated a number of benchmark biopharma companies including Huahui Anjian, Vitaraylon, and Denovo Biotech. Drawing on years of translational experience, the institute has comprehensively upgraded its established commercialisation framework and officially launched BISON — a new innovation incubation hub designed to tackle the persistent high‑risk challenges inherent in biopharmaceutical investment through a unique translational model and commercial logic.

Unlike conventional technology‑driven incubation models, BISON places market demand at the core of its approach. It partners with leading tertiary hospitals to identify clinical pain points at the front end, while aligning with pharmaceutical companies at the back end to reverse‑engineer original drug pipelines based on industry needs. Looking ahead, BISON will continue to leverage its deep foundation in original research to incubate high‑value biopharmaceutical innovations, helping domestically developed first‑in‑class drugs reach global markets and supporting the international expansion of China’s biotech industry.

Lei Zhicheng, Deputy General Manager of Mango Finance Limited, observed that the institutional advantages of Hong Kong’s capital market, combined with deepening economic and trade ties with the Middle East, have opened up new channels for Chinese tech innovators to access global capital. Closely aligned with policy directions and enterprises’ internationalisation ambitions, Mango Finance is focused on listing incubation and cross‑border expansion services, fostering service synergies through close collaboration with a diverse network of professional partners.

As an established securities firm, the company is steadily expanding its digital finance footprint in step with regulatory developments. Lei expressed keen interest in establishing system‑level connectivity with Alpha Ladder, and leveraging AI and cutting‑edge digital technologies to accelerate the digital transformation and upgrade of traditional securities operations.

Kevin Chen, CEO of Boost Bank and Founder of Aicapay, observed that as the Belt and Road Initiative continues to gain momentum, emerging markets across Africa, the Middle East, and Latin America are undergoing rapid economic and industrial transformation. Combined with surging outbound investment and cross‑border trade from China, the cross‑border finance sector in these markets presents enormous growth potential.

Boost Bank specialises in building localised compliance frameworks. Backed by multi‑jurisdictional licences, on‑the‑ground risk control teams, and deep‑rooted local financial resources, the company has established a fully integrated, end‑to‑end cross‑border capital loop — delivering tailored, client‑specific solutions for enterprises expanding globally. Chen underscored the strong strategic complementarity between the two firms and signalled Boost Bank’s intent to join forces with Alpha Ladder in building a fintech service ecosystem that empowers Chinese companies to seize opportunities in emerging markets worldwide.

Yin Li, Partner at Shanghai Landi Law Firm, shared that the firm established its first overseas offices a decade ago, making it one of China’s early legal practices to focus on cross‑border corporate services. It provides Chinese enterprises with full‑spectrum legal support spanning overseas investment filing, intellectual property protection, and cross‑border capital repatriation.

Against a backdrop where overseas expansion has evolved from conventional trade to high‑value industrial globalisation — marked by the coordinated export of technology, production capacity, and capital — and given the strong alignment between Middle Eastern development agendas and the Belt and Road Initiative, Chinese enterprises pursuing comprehensive deployment in the region have generated robust demand for localised legal services. This, he noted, is the key driver behind the firm’s intensified focus on the Middle East market.

Yin emphasised that proactive compliance is the core moat for enterprises going global. Businesses must conduct thorough assessments of local regulatory and legal frameworks before entering overseas markets. Leveraging its “on‑the‑ground global presence” model — with coordinated teams across China and multiple international jurisdictions — the firm conducts advance due diligence to identify and mitigate legal risks inherent in cross‑border operations.

About Alpha Ladder:

Alpha Ladder is a Singapore-regulated fintech group focused on developing a world-leading, one-stop, fully compliant financial infrastructure — delivering secure, efficient cross-border financial solutions for enterprises going global. The Group holds core licences issued by the Monetary Authority of Singapore (MAS), covering securities, futures, fund management, custody, RWA asset exchange, and Major Payment Institution (MPI). We also maintain regulatory approvals in Canada, and are actively expanding our footprint across key global financial hubs including Switzerland, Dubai, and Hong Kong, building a globally compliant regulatory network. By leveraging AI to reshape compliance, risk management, and treasury operations, Alpha Ladder empowers enterprises to reduce costs, enhance efficiency, and achieve sustainable global growth.

For more information, please visit our official website: www.alphaladder.hk

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SOURCE Alpha Ladder

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UOB Asset Management Highlights Global Resilience Despite Heightened Uncertainty

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SINGAPORE, July 24, 2026 /PRNewswire/ — UOB Asset Management (UOBAM) has released its 3Q 2026 Quarterly Investment Strategy, highlighting the global economy’s resilience in the face of persistent headwinds, including inflation, tariffs, geopolitical tensions and energy market volatility.

Despite repeated challenges over the past 18 months, economic activity has remained robust. Corporate earnings have held up across major regions, labour markets have remained resilient, and continued investment in artificial intelligence (AI) infrastructure is providing a powerful tailwind for growth.

While uncertainty remains elevated, the global economy’s resilience has reinforced confidence that the current expansion remains durable, even as risks continue to evolve.

On interest rates, UOBAM’s base case is that the US Federal Reserve is more likely to remain on an extended pause than embark on a new rate-hiking cycle. Although inflation remains sticky and recent geopolitical developments have raised upside risks, the firm continues to see evidence of moderating underlying inflation pressures, particularly in housing and wages.

Within equities, UOBAM remains positive on Asia and has upgraded Onshore China to overweight from underweight. Despite strong market gains, Asia continues to trade at a valuation discount to global equities, even as earnings growth has accelerated. UOBAM believes this combination of strong earnings momentum and attractive valuations presents a compelling opportunity for investors. In China, improving industrial profits and continued growth in higher-value sectors have strengthened the investment case for selected areas of the market, particularly those linked to AI, semiconductors, energy infrastructure and advanced manufacturing.

Anthony Raza, Head of UOBAM Multi-Asset Strategy, said, “The key story for investors is that the global economy has repeatedly withstood shocks without derailing growth. Despite a more uncertain backdrop, we continue to see attractive opportunities in Asia, where strong earnings growth is supported by compelling valuations, and we maintain gold as a preferred allocation as investors navigate an increasingly complex environment.”

In its asset allocation strategy, UOBAM remains overweight equities, diversified across fixed income and underweight cash. The firm continues to favour the United States and Asia within equities, while retaining a positive outlook on gold. Supported by strong central bank demand and its role as a safe-haven asset during periods of uncertainty, gold remains an important source of portfolio diversification.

For deeper insights across equities, fixed income, currencies and commodities, read the full 3Q 2026 Investment Strategy: https://uobam.com.sg/qis3q26

About UOB Asset Management

UOB Asset Management Ltd (UOBAM) is a wholly-owned subsidiary of United Overseas Bank Limited. Established in 1986, UOBAM has 40 years of experience in managing collective investment schemes and discretionary funds in Singapore, making us among the largest unit trust managers by assets under management. As of 30 June 2026, we manage 63 unit trusts in Singapore and together with our subsidiaries, oversee S$44.3 billion in clients’ assets.

Headquartered in Singapore, UOBAM has a strong presence across Asia, with business and investment offices in Brunei, Indonesia, Japan, Malaysia, Thailand and Vietnam. Our network includes UOB Islamic Asset Management Sdn Bhd in Malaysia, a joint venture with Ping An Fund Management Company Limited (China) and strategic alliances with partners such as Wellington Management Singapore.

UOBAM is one of the region’s most awarded asset managers, with over 380 awards won. In 2025, we were recognised as the Best Regional Asset Management Company by the Asia Asset Management and previously named Best Asset Management House in Asia – 20 Years in 2023. Our digital innovation has also earned top honours, including Best Digital Wealth Management in Asia[1] and Best Robo Advisory Initiative[2] for four consecutive years as of 2025.

As a leader in sustainable investing, UOBAM was awarded Best application of ESG in ASEAN[3] (2023) and has received multiple sustainability accolades in Indonesia and Thailand. Our artificial intelligence capabilities were also recognised with the Most Innovative Application of Artificial Intelligence (ASEAN) for three consecutive years[4].

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[1] Awarded by Asia Asset Management

[2] Awarded by The Digital Banker for the Global Retail Banking Innovations Award

[3] Awarded by Asia Asset Management

[4] As of 2026, by Asia Asset Management

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