Technology

GSE Systems Reports Second Quarter 2024 Financial Results

Published

2 years ago

August 14, 2024

COLUMBIA, Md., Aug. 14, 2024 /PRNewswire/ — GSE Systems, Inc. (“GSE Solutions”, “GSE”, or “the Company”) (Nasdaq: GVP), a leader in advanced engineering and workforce solutions that support the future of clean energy production and decarbonization initiatives of the nuclear power industry, today announced financial results for the second quarter (“Q2”) ended June 30, 2024.

Q2 2024 and Recent Highlights

Improved gross profit growth driven by Engineering segment, with a 14% increase over Q1 of 2024 and Q2 of 2023.Achieved positive Adjusted EBITDA for the first half of 2024, due to continued strong performance from our Engineering segment and diligent operating expense management.Backlog at June 30, 2024, was $34.7 million, including $30.4 million of Engineering backlog, and $4.3 million of Workforce Solutions backlog.Ended Q2 with cash, cash equivalents and restricted cash of $2.7 million, including restricted cash of $1.5 million.Subsequent to Q2 end, GSE entered into definitive merger agreement to be acquired by Pelican Energy Partners.

Management Commentary

Ravi Khanna, President & Chief Executive Officer of GSE, commented, “I am pleased with the second quarter results, which showed the execution of our strategic plan of improved utilization, which resulted in improved gross profit margin and continued diligence on expense controls. This combination led the company to report positive adjusted EBITDA of $0.6 million during the quarter. While the company is operating at an efficient level, order flow in the quarter was a bit softer, which reflects that the industry continues to recover at a cautious pace. We continue to see potential order flow at a respectable level, but also are experiencing continued timing issues, as projects are consistently getting pushed to the right. Considering where we are in the current cycle, the company has entered into a definitive agreement with Pelican Energy Partners and believes it to be highly beneficial for GSE shareholders, customers and employees. I will miss communicating with shareholders as we move forward with Pelican to navigate and provide value to the nuclear power industry.”

Q2 2024 FINANCIAL RESULTS

Revenue during Q2 2024 was $11.7 million an increase of $0.4 million compared to $11.3 million in Q1 2024, and revenue was $12.4 million in Q2 2023. The sequential improvement in revenues was primarily driven by our Design & Analysis business due to additional training and consulting work for new customers, offset by a sequential decrease in Workforce Solutions. The year-over-year decrease of $0.7 million was primarily due to the Workforce Solutions segment which saw a reduction of staffing needs from major customers.

Engineering revenue was $9.3 million in Q2 2024 compared to $8.7 million in Q1 2024, and $9.0 million in Q2 2023. The increase in revenue was primarily attributable to our Design & Analysis business due to additional training & consulting work for new customers.

Workforce Solutions revenue was $2.4 million in Q2 2024 compared to $2.6 million in Q1 2024, and $3.3 million in Q2 2023. The sequential and year-over-year decreases are mainly due to the reduction in workforce requirements.

Gross profit in Q2 2024 was $3.7 million, or 31.3% of revenue. This compared to gross profit of $3.2 million, or 26.0% of revenue in Q2 2023, and $3.2 million, or 28.5% of revenue in Q1 2024. The increase in gross margin was primarily related to the Engineering segment’s revenue growth as well as the increased project efficiency which produced higher margins in the quarter.

Operating expenses in Q2 2024 were $3.4 million compared to $4.0 million in Q2 2023. Operating expenses were $4.7 million in Q1 2024. Operating expenses were lower due to an improved corporate cost structure. The Company continues to maintain tight expense controls despite inflationary pressures.

Operating income (loss) was approximately $0.3 million in Q2 2024, compared $(0.8) million in Q2 2023. Operating loss was $(1.5) million in Q1 2024.

Net loss in Q2 2024 was $(0.9) million or $(0.26) per basic and diluted share, compared to net loss of $(1.5) million or $(0.62) per basic and diluted share in Q2 2023. Net loss was $(2.0) million or $(0.63) per basic and diluted share in Q1 2024.

Adjusted net income1 totaled $0.1 million, or $0.02 per diluted share in Q2 2024, compared to adjusted net loss of $(1.3) million, or $(0.53) per diluted share, in Q2 2023. Adjusted net loss1 totaled $(1.1) million, or $(0.35) per diluted share in Q1 2024.

Earnings before interest, taxes, depreciation and amortization (“EBITDA”) for Q2 2024 was approximately $(0.3) million, compared to $(0.4) million in Q2 2023. EBITDA for Q1 2024 was approximately $(1.2) million.

Adjusted EBITDA1 totaled $0.6 million in Q2 2024, compared to $(0.4) million in Q2 2023. Adjusted EBITDA1 totaled $(0.4) million in Q1 2024.

Backlog at June 30, 2024, was $34.7 million, including $30.4 million of Engineering backlog, and $4.3 million of Workforce Solutions.

1 Refer to the non-GAAP reconciliation tables at the end of this press release for a definition of “EBITDA”, “adjusted EBITDA” and “adjusted net income”.

CONFERENCE CALL

Due to the impending transaction with Pelican, GSE Systems will not be conducting a conference call.

ABOUT GSE SOLUTIONS

Proven by more than 50 years of experience in the nuclear power industry, GSE knows what it takes to help customers deliver carbon-free electricity safely and reliably. Today, GSE Solutions leverages top talent, expertise, and technology to help energy facilities achieve next-level power plant performance. GSE’s advanced Engineering and Workforce Solutions divisions offer highly specialized training, engineering design, program compliance, simulation, and technical staffing that reduce risk and optimize plant operations. With more than 1,100 installations and hundreds of customers in over 50 countries, GSE delivers operational excellence. www.gses.com.

FORWARD LOOKING STATEMENTS

We make statements in this press release that are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements reflect our current expectations concerning future events and results. We use words such as “expect,” “intend,” “believe,” “may,” “will,” “should,” “could,” “anticipates,” and similar expressions to identify forward-looking statements, but their absence does not mean a statement is not forward-looking. These statements are not guarantees of our future performance and are subject to risks, uncertainties, and other important factors that could cause our actual performance or achievements to be materially different from those we project. For a full discussion of these risks, uncertainties, and factors, we encourage you to read our documents on file with the Securities and Exchange Commission, including those set forth in our periodic reports under the forward-looking statements and risk factors sections. We do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Company Contact

Investor Contact

Ravi Khanna

Lytham Partners

Chief Executive Officer

Adam Lowensteiner, Vice President

GSE Systems, Inc.

(646) 829-9702

(410) 970-7800

gvp@lythampartners.com

GSE SYSTEMS, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Operations

(in thousands, except share and per share data)

Three Months ended

Six Months ended

June 30,

2024

2023

2024

2023

(unaudited)

Revenue

$11,725

$12,387

$23,008

$23,260

Cost of revenue

8,051

9,172

16,118

17,650

Gross profit

3,674

3,215

6,890

5,610

Selling, general and administrative

3,070

3,653

7,430

8,441

Research and development

118

154

347

335

Restructuring charges

–

Depreciation

108

101

Amortization of definite-lived intangible assets

131

182

292

Total operating expenses

3,385

3,991

8,131

9,169

Operating income (loss)

289

(776)

(1,241)

(3,559)

Interest expense, net

(258)

(767)

(717)

(1,053)

Change in fair value of derivative instruments, net

(736)

171

(753)

240

Other (loss) income, net

(47)

(98)

(88)

Loss before income taxes

(752)

(1,470)

(2,704)

(4,460)

Expense (benefit) from income taxes

102

142

(11)

Net loss

$(854)

$(1,498)

$(2,846)

$(4,449)

Net (loss) income per common share – basic
and diluted

$(0.26)

$(0.62)

$(0.89)

$(1.89)

Weighted average shares outstanding – basic
and diluted

3,258,124

2,418,827

3,203,465

2,356,413

GSE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share data)

June 30, 2024

December 31, 2023

(unaudited)

(audited)

ASSETS

Current assets:

Cash and cash equivalents

1,254

2,250

Restricted cash, current

379

378

Contract receivables, net of allowance for credit loss

9,391

10,166

Prepaid expenses and other current assets

553

879

Total current assets

11,577

13,673

Equipment, software and leasehold improvements, net

650

754

Software development costs, net

761

750

Goodwill

4,908

Intangible assets, net

997

1,179

Restricted cash – long term

1,086

1,083

Operating lease right-of-use assets, net

297

413

Other assets

Total assets

20,321

22,805

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Current portion of long-term note

1,200

810

Accounts payable

2,388

3,300

Accrued expenses

1,768

1,053

Accrued legal settlements

529

1,010

Accrued compensation

2,146

1,086

Billings in excess of revenue earned

4,974

5,119

Accrued warranty

166

176

Income taxes payable

1,776

1,701

Derivative liabilities

1,861

1,132

Other current liabilities

358

956

Total current liabilities

17,166

16,343

Long-term note, less current portion

–

637

Operating lease liabilities, noncurrent

301

357

Other noncurrent liabilities

126

Total liabilities

17,547

17,463

Commitments and contingencies (Note 12)

Stockholders’ equity:

Preferred stock $0.01 par value; 2,000,000 shares authorized; no shares issued
and outstanding

–

Common stock $0.01 par value; 60,000,000 shares authorized, 3,466,522 and
3,194,030 shares issued, 3,306,631 and 3,034,139 shares outstanding,
respectively

Additional paid-in capital

87,253

86,983

Accumulated deficit

(81,554)

(78,708)

Accumulated other comprehensive income

Treasury stock at cost, 159,891 shares

(2,999)

Total stockholders’ equity

2,774

5,342

Total liabilities and stockholders’ equity

20,321

22,805

EBITDA and Adjusted EBITDA Reconciliation (in thousands)

References to “EBITDA” mean net (loss) income, before considering interest expense, expense (benefit) from provision for income taxes, depreciation and amortization. References to Adjusted EBITDA excludes stock-based compensation expense and the impact of the change in fair value of derivative instruments. EBITDA and Adjusted EBITDA are not measures of financial performance under U.S. GAAP. Management believes EBITDA and Adjusted EBITDA, in addition to operating profit, net income and other U.S. GAAP measures, are useful to investors to evaluate the Company’s results because it excludes certain items that are not directly related to the Company’s core operating performance that may, or could, have a disproportionate positive or negative impact on our results for any particular period. Investors should recognize that EBITDA and Adjusted EBITDA might not be comparable to similarly-titled measures of other companies. This measure should be considered in addition to, and not as a substitute for or superior to, any measure of performance prepared in accordance with U.S. GAAP. A reconciliation of non-U.S. GAAP EBITDA and Adjusted EBITDA to the most directly comparable U.S. GAAP measure in accordance with SEC Regulation G follows:

Three Months ended

Six Months ended

June 30,

2024

2023

2024

2023

(unaudited)

Net loss

$(854)

$(1,498)

$(2,846)

$(4,449)

Interest expense, net

258

767

717

1,053

Expense (benefit) from income taxes

102

142

(11)

Depreciation and amortization

228

267

487

560

EBITDA

(266)

(436)

(1,500)

(2,847)

Stock-based compensation expense

(274)

246

531

Change in fair value of derivative instruments, net

736

(171)

753

(240)

Restructuring charges

–

Advisory fees

300

–

776

–

Adjusted EBITDA

$560

$(361)

$113

$(2,556)

Adjusted Net Income (Loss) and Adjusted EPS Reconciliation (in thousands, except per share amounts)

References to Adjusted Net Income (Loss) excludes the stock-based compensation expense, the impact of the change in fair value of derivative instruments, and amortization of intangible assets. Adjusted Net Income (Loss) and Adjusted Income (Loss) per Share (adjusted EPS) are not measures of financial performance under U.S. GAAP. Management believes Adjusted Net Income (Loss) and Adjusted Income (Loss) per Share, in addition to other U.S. GAAP measures, are useful to investors to evaluate the Company’s results because they exclude certain items that are not directly related to the Company’s core operating performance and non-cash items that may, or could, have a disproportionate positive or negative impact on our results for any particular period, such as stock-based compensation expense. These measures should be considered in addition to, and not as a substitute for or superior to, any measure of performance prepared in accordance with U.S. GAAP. A reconciliation of non-U.S. GAAP Adjusted Net Income (Loss) and Adjusted Income (Loss) per common Share to U.S. GAAP net loss, the most directly comparable U.S. GAAP financial measure, is as follows:

Three Months ended

Six Months ended

June 30,

2024

2023

2024

2023

(unaudited)

Net loss

$(854)

$(1,498)

$(2,846)

$(4,449)

Stock-based compensation expense

(274)

246

531

Change in fair value of derivative instruments,
net

736

(171)

753

(240)

Restructuring charges

–

Advisory fees

300

–

776

–

Amortization of intangible assets related to
acquisitions

131

182

292

Adjusted net income (loss)

(1,292)

(1,051)

(3,866)

Net loss per common share – diluted

(0.26)

(0.62)

(0.89)

(1.89)

Add back: Effect of stock-based compensation

(0.08)

0.11

0.01

0.24

Add back: Effect of change in fair value of
derivative instruments, net

0.22

(0.07)

0.23

(0.11)

Add back: Effect of restructuring charges

0.02

–

0.02

–

Add back: Effect of advisory fees

0.09

–

0.24

–

Add back: Effect of amortization of intangible
assets related to acquisitions

0.03

0.05

0.06

0.12

Adjusted net income (loss) per common share –
diluted

$0.02

$(0.53)

$(0.33)

$(1.64)

Weighted average shares outstanding – diluted(1)

3,258,124

2,418,827

3,148,806

2,293,389

(1) During the three and six months ended June 30, 2024, we reported a U.S. GAAP net loss and an adjusted net income (loss). Accordingly, there were no dilutive shares from RSUs or other dilutive instruments that are included in the adjusted net income (loss) per share calculation, as all shares were considered anti-dilutive when calculating the net loss per share. During the three and six months ended June 30, 2023 we reported a U.S. GAAP net income and an adjusted net loss. Accordingly, there were no dilutive shares from RSUs or other dilutive instruments that are included in the adjusted net loss per share calculation, as all shares were considered anti-dilutive when calculating the net loss per share.

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SOURCE GSE Systems, Inc.

Technology

Club Offers for Travel Enthusiasts in Germany

Published

54 minutes ago

November 8, 2026

BERLIN, Nov. 8, 2026 /PRNewswire/ — Travelzoo® (NASDAQ: TZOO), the club for travel enthusiasts, announces five of many new Club Offers for Club Members in Germany.

Rigorously vetted and negotiated for us travel enthusiasts:

FROM €99 PP—HESSE: 3 DAYS AT A CASTLE HOTEL WITH DINNER IN THE KNIGHTS’ HALL
A crackling fireplace and historic suits of armor on the walls: a cozy winter evening at Staufenberg Castle. Included for us Club Members: a 3-course dinner in the Knights’ Hall, which is more than 500 years old.

€499 PP—TUSCANY: VILLA WITH COOKING CLASS & 6-COURSE DINNER
“Fantastic cooking class, wonderful wine tasting, excellent dinner.” Club Members love Villa Patriarca, which is why we’ve negotiated another offer. Save 50% for three nights in a junior suite compared to the market price.

FROM €299 PP—NEW 5-STAR HOTEL IN PORTO WITH FLIGHTS
Three nights in a prime location next to the historic city walls. Views of the Douro River from the outdoor hot tub. A special price to celebrate the opening of this boutique hotel: the offer regularly costs €580.

€89 PP—3 DAYS AT A BOUTIQUE HOTEL ON SYLT
A ship’s wheel on the wall and a historic nautical chart on the ceiling. Or Delft tiles in the bathroom and a tiger-print rug. Every room at Haus Noge is unique. In the off-season, we travel enthusiasts pay €89 instead of €267 per person.

FROM €399 PP—TURKEY: 1 WEEK ALL-INCLUSIVE WITH FLIGHTS
Relax on a sandy beach and soak up the sun at the start of the season in April. Included for Club Members: a sea-view room and all meals and drinks. There’s also a sports and entertainment program, from beach volleyball to tennis.

Are you a travel enthusiast? Join the club today: https://travelzoo.com

Who are we?
We, Travelzoo®, are the club for travel enthusiasts. We reach 30 million travelers. Club Members receive Club Offers negotiated and rigorously vetted by our deal experts around the globe. Our relationships with thousands of top travel companies give us access to irresistible deals. Our club and its benefits are built around the lifestyle of a modern travel enthusiast.

Travelzoo
Unter den Linden 40
10117 Berlin

Media Contact:
Natalia Cwierz – Berlin
+49 30 311 975 20
ncwierz@travelzoo.com

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SOURCE Travelzoo

Technology

“Pulse @ Jurong” launches as a New Digital Community Platform connecting Everyday Life across Singapore’s West

Published

2 hours ago

November 8, 2026

Developed by Jurong Point and Link Asset Management, the app extends the mall’s role beyond its physical space to serve as a digital connector for the wider community in the West.

New community-centric app brings transport updates, local discoveries, neighbourhood happenings and offers together in one place.

Built around the needs of residents, workers and visitors, with input from a focus group and closed beta involving 270 people living and working in the West.Connects people to the diversity of Jurong, bringing together everyday convenience, neighbourhood discoveries and community happenings in one platform.Jurong Point serves as the launchpad for the wider Jurong community, with future features shaped by user feedback and potential portfolio expansion.

SINGAPORE, Nov. 8, 2026 /PRNewswire/ — Pulse @ Jurong, a new community-centric digital platform developed by Jurong Point and Link Asset Management, has officially launched to bring everyday life across Singapore’s West closer together. Designed around the needs of residents, workers, students and visitors, the app connects transport information, neighbourhood businesses, local dining and retail offers, community activities and essential amenities in one convenient platform.

With Jurong Point as its starting point, Pulse @ Jurong serves the wider Jurong community, connecting people to neighbourhood businesses, services and experiences beyond the mall. The initiative reflects Jurong Point’s evolving role as a community hub and Link’s commitment to strengthening connections between its assets and the communities they serve.

Designed around everyday needs

Whether checking bus arrival times before leaving home, looking for a nearby meal, finding an upcoming community programme or discovering a relevant dining offer, users can access multiple aspects of their day through one app. Pulse brings together transport information and alerts, parking and EV-charging information, food and dining recommendations, neighbourhood amenities and services, and community events. Users can also discover eligible retail and dining offers, claim them through the app and keep them in an in-app wallet.

At launch, Pulse includes more than 470 store listings alongside local discoveries and places of interest. The app is designed for a potential Jurong West residential catchment of more than 250,000 people (this figure does not represent registered users).

Shaped with the Community, for the Community

The platform is developed with input from focus groups and closed beta involving 270 people living and working in the West over eight months, Pulse reflects feedback on transport, deals and neighbourhood discovery. This initial launch will be followed by further enhancements shaped by community feedback and actual usage. AI-assisted tools were also used to support feedback analysis and identify recurring themes.

“Access to timely and useful local information can help residents plan their day and participate more actively in community life. I hope Pulse @ Jurong will complement existing community channels and make it easier for residents to stay informed, discover activities nearby and feel more connected to the people and places around them,” said Mr Patrick Tay, Member of Parliament for Pioneer SMC and Adviser to Pioneer Grassroots Organisations.

“We began by looking at what people across Jurong need in their everyday lives, beyond what happens within the mall. Pulse is being piloted in Jurong to make local information, community activities and neighbourhood businesses easier to discover, while exploring how a digital platform can complement physical retail spaces and strengthen community connections. This is only the beginning. We will continue refining the platform and introducing new features based on feedback from residents, merchants and community partners. As we assess adoption, sustained engagement and the outcomes of this pilot, a successful model could potentially be adapted across Link’s wider portfolio,” said Mr Andy Kau, General Manager, Jurong Point.

Making Community Happenings easier to Discover

Pulse @ Jurong is intended to complement existing community and public-service channels by helping residents discover nearby events, activities and volunteer opportunities. Where available, users can follow links to the relevant organisers’ platforms to register or learn more.

Working with The Frontier and Boon Lay Community Clubs and local stakeholders, Jurong Point aims to broaden the visibility of local activities and provide another channel through which residents can connect with their community.

Supporting Local Business and strengthening the Jurong ecosystem

Beyond community information, Pulse @ Jurong creates a new digital discovery channel connecting residents and visitors with local businesses across Singapore’s West. The platform features 200 Jurong Point tenants and more than 300 neighbourhood merchants in the surrounding precincts, bringing together a diverse mix of retail, dining, services and everyday experiences in one convenient app.

Participating businesses can increase their visibility, showcase relevant offerings and engage customers through targeted promotions and campaigns. By connecting digital discovery with physical visits, the platform aims to encourage local spending, support neighbourhood businesses and strengthen the wider commercial ecosystem.

“For hawkers and small businesses in the neighbourhood, reaching new customers beyond our regular patrons is always important. Many residents may not be aware of the variety of food and services available just around the corner. The Jurong Point team took the time to engage us personally and guide us through how to use Pulse @ Jurong, making it easier for merchants like us to come on board. The app gives us another way to showcase what we offer, reach new customers and encourage more people to explore and support local businesses. It is encouraging to see Jurong Point extending its reach beyond the mall to bring the wider business community together,” said Mr Anthony Low Hock Kee, Vice President of The Federation of Merchants’ Associations, Singapore, and owner of Xin Sheng Ngoh Hiong Prawn Cracker at Boon Lay Place Food Village.

“Many neighbourhood merchants rely on word-of-mouth and returning customers, but there is often a wider audience nearby that may not be aware of what local businesses have to offer. Pulse @ Jurong provides a valuable platform for merchants to increase their visibility and connect with more residents in the community. Beyond supporting local businesses, it also helps bring people closer to the activities, services and experiences available in the neighbourhood. We are encouraged to see Jurong Point extending its role beyond the mall to strengthen connections across the wider Jurong community,” said Mr Kuek Chiew Peng, BBM(L) Chairman, Boon Lay Merchants’ Association for Boon Lay Shopping Centre.

Through its tenant relationships, on-site touchpoints and engagement with local merchants, Jurong Point is helping connect the mall with the wider Jurong community.

The launch also marks an important step in Link’s approach to digital placemaking, exploring how technology can complement physical retail assets, deepen customer engagement and create measurable value for tenants and community partners. Insights from adoption, usage and merchant participation will guide the platform’s continued development and potential expansion.

Discover More of the West with Pulse @ Jurong

To celebrate the launch, new users who sign up for Pulse @ Jurong from 7 November 2026 can enjoy dining and retail vouchers at the designated sign-up booths within Jurong Point, giving them an added incentive to discover and experience the offerings.

Adding to the excitement, users will also have the opportunity to stand a chance to win a JAECOO 6, an off-road-inspired electric SUV, as part of a launch lucky draw. Further details on participation and eligibility will be announced.

Pulse @ Jurong is available for download on the Apple App Store and Google Play Store. Residents and visitors are invited to download the app to explore real-time transport information, neighbourhood dining and retail offers, local discoveries and community happenings across Singapore’s West.

Download Pulse @ Jurong:

Apple App Store: https://apps.apple.com/sg/app/id6770556908
Google Play Store: https://play.google.com/store/apps/details?id=com.mll.pls

Stay connected with Pulse @ Jurong:

Follow Pulse @ Jurong on Facebook and Instagram for the latest neighbourhood discoveries, community happenings, exclusive offers and updates on upcoming activities.

Facebook: https://www.facebook.com/pulseatjurong/
Instagram: https://www.instagram.com/pulseatjurong/

Everyday Information in One Place

Pulse @ Jurong enables users to:

Plan their journeys
Access transport information and alerts, including bus arrival timings, traffic and train alerts, parking availability and EV-charging information.Discover what is nearby
Browse store listings, alongside local food and dining recommendations, neighbourhood amenities, services and places of interest across Pioneer, Jurong and nearby areas.Stay connected with the community
Discover upcoming community events, programmes and volunteer opportunities, with direct links to the relevant platforms for users to register their interest.Access relevant offers
Discover retail and dining offers, claim them through the app and store them in the in-app wallet.

About Pulse @ Jurong

Pulse @ Jurong is a community-centric digital platform developed by Jurong Point and Link Asset Management Limited to connect people, places, businesses and everyday experiences across Singapore’s West.

Designed for residents, workers, students and visitors, the app brings together real-time transport information, neighbourhood discoveries, dining and retail offers, local amenities and community happenings in one convenient platform. It also provides a digital discovery channel for Jurong Point tenants and neighbourhood merchants, helping local businesses connect with customers and encouraging greater participation in the local economy.

For more information about Pulse @ Jurong, please visit https://www.pulseatjurong.com.sg/

About Jurong Point

With 750,000 square feet of lettable space, Jurong Point is one of Singapore’s largest suburban lifestyle destination for shoppers in Singapore. Strategically located in the western part of Singapore and connected to Boon Lay MRT and Bus Interchange, the mall attracts an average footfall of 5.6 million visits a month.

Jurong Point is also home to a number of thematic precincts, such as, Japanese Food Street and Mongkok streets. The mall aims to meet shoppers’ diverse needs with anchor tenants like FairPrice Xtra, Harvey Norman, Kopitiam, Malaysia Boleh, Don Don Donki and more than 400 retail and food & beverage outlets that offer a dazzling array of merchandise, services and culinary delights.

Apart from being a retail destination, it also shares its space with a large cluster of 11 community and civic institutions, such as SAGE, AMP, TARA and My First Skool. The mall not only serves a 250,000 residential population but a 100,000 PMET Workforce as well within its 5 kilometre radius.

For more information about Jurong Point, please visit https://sg.linkreit.com/malls/jurong-point/

About Link Asset Management Limited

Link Asset Management Limited (Link) is a leading, independent, and fully integrated real estate investor and manager focusing on the APAC region. It manages Link Real Estate Investment Trust (Link REIT, Hong Kong stock code: 823), the largest REIT in Asia, and its real estate investment portfolio. Link also aims to leverage its investment management capabilities to serve as a trusted investment manager to capital partners through its business line, Link Real Estate Partners.

Building on its strong track record over almost two decades, Link targets to deliver resilient returns and growth to its unitholders. Link offers a “REIT plus” investment case through its strategic focus on diversifying the Link REIT Portfolio across geographies and asset classes in APAC and expanding its investment management business.

Link aspires to be the trusted partner in APAC real estate sector for unitholders, capital partners, tenants, and the wider communities it serves.

For more information about Link, please visit https://www.laml.com/en/

Chinese Translations

Jurong Point 裕廊坊

Link Asset Management Limited 领展资产管理有限公司

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SOURCE Jurong Point and Link Asset Management

Technology

2026 China International Intelligent Communication Forum Held in Wuxi

Published

2 hours ago

November 8, 2026

WUXI, China, Nov. 8, 2026 /PRNewswire/ — From November 8 to 10, the 2026 China International Intelligent Communication Forum (CIICF), jointly organized by China Media Group (CMG) and the Jiangsu Provincial People’s Government, is held in Wuxi, Jiangsu Province.

At the forum, the Chinese Academy of Social Sciences (CASS) releases the “2026 Report on the Development of Chinese Cities’ International Intelligent Communication Capabilities”, examining the key characteristics, current challenges and innovative pathways in the development of Chinese cities’ international intelligent communication. A new episode of the original franchise “Global Youth Talk” is also launched. Representatives of key cultural industry projects in Wuxi sign agreements on stage. The forum also launches the “Wuxi Initiative of the China International Intelligent Communication Forum,” calling on all parties to work together to build a new global ecosystem for intelligent communication that is open, inclusive, collaborative and mutually beneficial.

Lu Bingheng, Chairman of the National Technical Committee on Additive Manufacturing Standardization, Director of the National Additive Manufacturing Innovation Center and Professor at Xi’an Jiaotong University; Michael Levitt, Nobel Laureate in Chemistry and Member of the U.S. National Academy of Sciences; Ge Yuefeng, Deputy General Manager of China Time and Space Information Group Co., Ltd.; and Scott Ross, Founder of Digital Domain, Former Senior Vice President of Lucasfilm and Former President of Industrial Light & Magic (ILM), are among the guests sharing theoretical vision and practical perspectives. They exchange ideas on intelligent communication and media transformation, technological innovation and industrial development, and mutual learning among civilizations and international cooperation, building consensus on future development.

The forum also features a series of side events, including the 2026 Forum on the International Communication of Digital Culture, the AIGC Digital and Intelligent Industries Forum, the “Wuxi Dialogue” on Local International Communication, a closed-door industry dialogue, the “Film Music • Wuxi Night” gala, and the 2026 “Experience China Insights from Wuxi” International Media Tour.

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SOURCE CIICF