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Air Conditioning (AC) Market size is set to grow by USD 14.8 billion from 2024-2028, Rise in residential construction activity to boost the market growth, Technavio

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NEW YORK, Aug. 21, 2024 /PRNewswire/ — The global air conditioning (AC) market  size is estimated to grow by USD 14.8 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  2.15%  during the forecast period.  Rise in residential construction activity is driving market growth, with a trend towards increase in use of r32 refrigerant in split ACs. However, volatility in operating costs and raw material prices  poses a challenge. Key market players include Blue Star Ltd., Daikin Industries Ltd., DeLonghi Group, Electrolux group, Emerson Electric Co., Fujitsu Ltd., Haier Smart Home Co. Ltd., Hitachi Ltd., Honeywell International Inc., Johnson Controls International Plc., LG Electronics Inc., MIDEA Group Co. Ltd., Mitsubishi Electric Corp., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Trane Technologies Plc, Transform Holdco LLC, Toshiba Corp., Voltas Ltd., and Whirlpool Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (Splits, Chillers, Airside, and Others), Distribution Channel (Offline and Online), and Geography (APAC, Europe, North America, Middle East and Africa, and South America)

Region Covered

APAC, Europe, North America, Middle East and Africa, and South America

Key companies profiled

Blue Star Ltd., Daikin Industries Ltd., DeLonghi Group, Electrolux group, Emerson Electric Co., Fujitsu Ltd., Haier Smart Home Co. Ltd., Hitachi Ltd., Honeywell International Inc., Johnson Controls International Plc., LG Electronics Inc., MIDEA Group Co. Ltd., Mitsubishi Electric Corp., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Trane Technologies Plc, Transform Holdco LLC, Toshiba Corp., Voltas Ltd., and Whirlpool Corp.

Key Market Trends Fueling Growth

Air conditioning (AC) systems utilize refrigerants, which are compounds capable of absorbing environmental heat and providing refrigeration or cooling when combined with components like compressors and evaporators. Vendors, including Daikin Industries and Samsung Electronics, employ various refrigerants, such as R-410A, R-32, and R-22, to meet cooling demands. R-32 refrigerant, with zero-ozone depletion potential (ODP) and low global warming potential (GWP), is gaining popularity due to its energy efficiency and reduced carbon emissions. R-32 ACs consume up to 10% less electricity than R-410A and R-22 models, making them an attractive choice for consumers. In March 2019, Samsung launched split ACs with R-32 refrigerant, offering higher efficiency and lower environmental impact. The increasing availability and adoption of R-32 ACs are expected to drive the global air conditioning market growth during the forecast period. 

The AC market is thriving, with significant growth in both residential and commercial segments. Residential buildings are seeing increased demand for Room AC Windows, Split AC, and Smart Air Conditioners. In the commercial sector, businesses are investing in Centralized AC, VRF, Chillers, and Packaged Air Conditioners for Office Buildings, Retail Spaces, Healthcare Facilities, Data Centers, and Manufacturing Plants. Product launches and innovations, such as Inverter Technology and Energy Efficient designs, are driving the market forward. Mergers and acquisitions, collaborations, and partnerships are shaping the AC business landscape. Online Retail and Direct Sales are gaining popularity, while Distribution Sales continue to dominate. Global temperatures and urban heat are key factors driving demand. Automatic technology is replacing Manual technology for enhanced comfort and energy savings. The market is expected to grow further with the increasing focus on Energy Efficiency Standards. 

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Market Challenges

The air conditioning market is influenced by several factors that determine the price of appliances, including manufacturing costs, labor costs, and raw material prices. The cost of raw materials, such as steel, iron, plastic, glass, electronic equipment, petroleum products, and paints, significantly impacts the price of air conditioning products or the profit margins of manufacturers. Raw material prices are subject to change and can fluctuate based on international markets. Procurement of these materials involves additional costs like transportation and necessary services, supplier constraints, and inability to secure favorable arrangements for timely delivery. The prices of major raw materials like steel, rubber, iron, and plastic have seen significant volatility in the US and international markets. This price instability results in either increased product prices or reduced profit margins for manufacturers. The cost of petroleum products, which affect transportation costs for raw materials and final products, also influences market prices. Transportation costs include taxes, duties, and fuel prices, which can increase with rising crude oil prices. These factors challenge air conditioning market manufacturers to produce efficient and innovative hybrid air conditioners at competitive prices during the forecast period.The AC market faces challenges in providing energy-efficient solutions for various sectors like residential buildings, office buildings, retail spaces, healthcare facilities, data centers, and manufacturing plants. Rising global temperatures and urban heat contribute to the increasing demand for air conditioning systems. Smart air conditioners, such as those with Inverter technology, are popular due to their energy efficiency. Energy Efficiency Standards are driving the industry to innovate with air conditioning units using non-inverter technology, window ACs, split ACs, multi-split ACs, and central ACs. Technological advancements, like NanoeX technology and smart technology, offer user comfort, improved indoor air quality, and air filtration systems for allergens and pollutants. Developing nations and urbanization require ecologically conscious goods, leading to the use of recycled materials and energy efficiency. Changing climate patterns necessitate the need for energy-efficient solutions, and commercial spaces are adopting these technologies to attract customers. Smartphones and user comfort further fuel the demand for air conditioners.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This air conditioning (ac) market report extensively covers market segmentation by

Product 1.1 Splits1.2 Chillers1.3 Airside1.4 OthersDistribution Channel2.1 Offline2.2 OnlineGeography 3.1 APAC3.2 Europe3.3 North America3.4 Middle East and Africa3.5 South America

1.1 Splits-  The global air conditioning market is experiencing growth in the splits segment due to the increasing preference for energy-efficient and sleek split air conditioners. Vendors, such as Samsung, have ceased manufacturing window air conditioners and shifted production to split air conditioners to meet customer demand. Inverter-based split air conditioners are gaining popularity for their energy efficiency. The market has seen a decline in demand for ducted standard split air conditioners compared to non-ducted standard splits. Japanese-style mini-splits are becoming more popular in regions like North America as awareness grows. Refurbished products are driving demand for split air conditioners due to the increasing focus on energy efficiency and LEED certifications. Split air conditioners offer benefits such as easy installation, simultaneous heating and cooling effect, precise temperature control, and energy efficiency. They also make less noise and consume less energy than window air conditioners. These advantages have led to an increase in demand for split air conditioners, which will fuel the growth of the splits segment of the global air conditioning market during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global HVAC Systems Market is experiencing robust growth, driven by rising urbanization, increasing demand for energy-efficient solutions, and advancements in smart technologies. The market is expanding across residential, commercial, and industrial sectors. Key players like Daikin, Carrier, and Johnson Controls are leading innovations in heating, ventilation, and air conditioning systems. The Asia-Pacific region dominates the market, fueled by rapid construction activities and government initiatives promoting green building standards.

Research Analysis

The AC business is thriving in today’s world due to rising global temperatures and urban heat. Residential buildings, office buildings, retail spaces, and healthcare facilities are major consumers of air conditioners. Smart air conditioners, such as those with NanoeX technology and smart technology, are becoming increasingly popular for their energy efficiency and user comfort. Developing nations and urbanizing areas are witnessing significant growth in the AC market. Ecologically conscious goods, including air conditioners made from recycled materials, are gaining traction. Indoor air quality is a major concern, leading to the demand for air filtration systems that remove allergens and pollutants. Humidity levels are also a consideration, especially in tropical regions. Both residential and commercial segments are adopting advanced technologies like room AC windows, split AC, and energy-efficient solutions to maintain optimal indoor conditions. Smartphones and user-friendly interfaces are making it easier to control AC systems remotely.

Market Research Overview

The AC business is thriving in today’s world due to rising global temperatures and urban heat. Residential buildings, office buildings, retail spaces, healthcare facilities, data centers, and manufacturing plants are major consumers of air conditioning systems. Smart technology and energy efficiency are key trends in the market, with smart air conditioners and inverter technology leading the way. Energy Efficiency Standards are driving the demand for energy-efficient designs and solutions. Air conditioning units come in various types, including window AC, split AC, multi-split AC, central AC, inverter, and non-inverter technology. Technological advancements, such as NanoeX technology, air filtration systems, and humidity control, enhance user comfort. Developing nations and urbanization are fueling the growth of the AC market. Changing climate patterns and the need for ecologically conscious goods are also influencing the industry. The market is witnessing numerous product launches, innovations, mergers and acquisitions, and collaborations and partnerships. Multi-brand stores, exclusive stores, and online stores are popular sales channels. The residential and commercial segments are the major consumers, with the commercial segment showing significant growth. Indoor air quality, allergens, pollutants, and humidity levels are key considerations for consumers. Smartphones and user comfort are also driving the demand for advanced AC features.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductSplitsChillersAirsideOthersDistribution ChannelOfflineOnlineGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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ASUS Accelerates Enterprise AI at Scale with 6th-Gen AMD EPYC Server CPUs

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 ASUS leverages 6th-gen AMD EPYC Server CPUs to deliver scalable, efficient compute for enterprise AI, cloud, virtualization and business-critical workloads

SAN FRANCISCO, July 24, 2026 /PRNewswire/ — ASUS today announced its groundbreaking new server lineup powered by the AMD EPYC™ 9006 processors, engineered to deliver unmatched performance for the most demanding intensive enterprise workloads. This advanced portfolio introduces two highly optimized series with efficiency-optimized AMD EPYC SP8 server CPU, the flagship dual-socket ASUS RS700A/720A for extreme compute density and the single-socket ASUS RS500A/520A for superior space efficiency and deployment flexibility.

Both series integrate full PCIe® 6.0, leading memory support, and high-density E3.S storage, all underpinned by proprietary ASUS innovations for superior thermal management and operational efficiency to meet and exceed the rigorous demands of enterprise AI, virtualization, storage and cloud environments.

“The new ASUS server series, powered by 6th-gen AMD EPYC server CPUs, is engineered to power every enterprise workload with flexible, scalable infrastructure,” Paul Ju, Senior Vice President of ASUS, commented, “This launch marks a significant milestone for ASUS and our clients. The new series empowers businesses with a resilient foundation to achieve unprecedented computing efficiency and accelerating AI innovation with inference.”

ASUS expands 6th-gen AMD EPYC server portfolio with dual optimized series

ASUS has introduced a new server lineup segmented into two distinct series, each precisely engineered to meet diverse enterprise demands.

The flagship RS700A/720A series (dual-socket) delivers extreme compute density, making it ideal for AI inferencing, and complex simulations. It offers exceptional bandwidth with PCIe 6.0, memory leadership via 32 DIMM slots supporting ultrafast MRDIMM, and high-density storage with up to 32 E3.S bays in a compact 2U form factor.

Complementing this is the RS500A/520A series (single-socket), a highly efficient and space-optimized solution with depth under 800mm, perfect for mainstream enterprise workloads and rack-constrained environments. Featuring full PCIe 6.0 capabilities, E3.S storage support, and modular scalability through shared components with the RS700A and RS720A series, it provides uncompromised performance in a streamlined, deployment-friendly design.

ASUS elevates the AMD EPYC platform with cutting-edge proprietary innovations

ASUS has significantly advanced the AMD EPYC 9006 platform with a series of proprietary engineering breakthroughs focused on superior reliability, thermal management, and operational efficiency.

The DC-MHS modular architecture features a zone-partitioned chassis that separates I/O, HPM, fan, and storage modules to accelerate development, reduce capital costs, and enable rapid serviceability. The patented ASUS DIMM.2 Innovation repositions M.2 storage to the cooler DIMM region, eliminating thermal throttling without extra heatsinks and unlocking greater scalability. Thermal Radar 3.0 with PID Control delivers precise real-time fan regulation via advanced algorithms, reducing energy use and maintaining peak performance under heavy enterprise-level workload.

Completing the suite is the optimized tool-less operational-velocity design, which boosts maintenance efficiency, maximizing uptime and lowering TCO and sustaining peak performance even under volatile, high-load AI/HPC workloads.

AVAILABILITY & PRICING

ASUS RS700A/720A series and RS500A/520A series servers will be available soon. Please contact your local ASUS representative for further information.

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Fractal posts 20% revenue growth and 92% net income growth in Q1 FY27

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Adjusted EBITDA Grows at 35% YoYGross Margin up 29 bps1 to 46%; Adjusted EBITDA Margin up 189 bps to 17%

NEW YORK, July 24, 2026 /PRNewswire/ — Fractal Analytics Ltd (BSE: 544700) (NSE: FRACTAL) announced its consolidated financial results for Q1 FY27, ending June 30, 2026.

In Q1 FY27, the Company reported consolidated operating revenue of INR 9,125 m, a growth of 20% year on year (YoY). Revenue growth was led by the company’s Healthcare and Life Sciences (HLS) industry, which clocked 69% growth YoY. Strong sustained growth in HLS over the last several quarters has resulted in it becoming the second largest industry in the portfolio. Banking, Financial Services and Insurance (BFSI) also performed very well, growing 36% YoY in Q1. Fractal’s largest industry, Consumer Packaged Goods and Retail (CPGR), continued to gather momentum, growing 19% YoY. On the other hand, TMT declined 22% YoY.

Fractal’s focus on deepening customer relationships continues to yield good outcomes. Its clients collectively increased their spending with the company, as reflected in the Net Revenue Retention2 of 117% in Q1. Further, its Net Promoter Score (NPS) during the period stood at 77.

The company reported improved profit margins at all levels. Gross Margin in Q1 was at 46%, while Adjusted EBITDA Margin expanded by 189 bps YoY to 17%. Net Income grew 92% YoY to INR 723 m.

Commenting on the performance, Srikanth Velamakanni, Group CEO and Executive Vice-Chairman, said:

“Enterprises are putting real transformation budgets behind AI now and we’re seeing it directly in the size of the deals coming to us. TMT was the drag on our headline growth this quarter. Excluding TMT, our business grew 35% year on year, which is a better read on the underlying demand we’re seeing.

As data sovereignty becomes a bigger priority for governments and enterprises, and as open-weight models keep improving, clients need a partner who can work across models and infrastructure. We have invested heavily in our people, our research, and our own intellectual property to be that partner.”

1 Basis points = 1/100th of 1%
2 Net Revenue Retention in our Fractal.ai segment measures how effectively we retain and expand revenue from our existing clients over a defined period and is calculated by comparing the current period’s revenue from the clients who existed at the start of the period, with their revenue in the previous period – including the effects of upsells, cross-sells and contractions

About Fractal 

Fractal Analytics Ltd (BSE: 544700) (NSE: FRACTAL) is a globally recognized pure-play enterprise AI company trusted by Fortune 500®-sized enterprises to power decision-making through AI services, solutions, and products, anchored by Cogentiq, its flagship agentic AI platform. With over 6,000 professionals across North America, EMEA, and Asia-Pacific, Fractal partners with business leaders to drive competitive differentiation for their organizations by embedding AI into critical decisions across business functions and industry verticals.

Fractal invests more than 6% of its revenue in AI R&D, supporting foundational AI research, product development, and IP creation that address both immediate client needs and long-term technological advancement. Fractal’s track record includes developing proprietary models and products such as Cogentiq Health – Vaidya.ai and Cogentiq Data Science – PiEvolve, as well as incubating and spinning out Qure.ai, a global healthcare AI leader focused on the rapid identification and management of tuberculosis, lung cancer, and stroke (or critical health conditions). Fractal’s suite of businesses consists of Asper.ai (a Revenue Growth Management product for CPG companies) and Analytics Vidhya (an Ed-tech platform).

For more information, go to www.fractal.ai.

Logo: https://mma.prnewswire.com/media/2931510/5858548/Fractal_Logo.jpg

 

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SOURCE Fractal Analytics Limited

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Xryma Plc : Pre-Listing Liquidity Facility and Price Discovery Process

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NICOSIA, Cyprus, July 24, 2026 /PRNewswire/ — Xryma Plc (“Xryma”)  announces its intention to reapply within the next twelve months for admission to list on Euronext Paris (“Euronext”), with such admission being subject to Euronext’s approval. Before submitting its application, Xryma intends to launch a pre-listing liquidity facility and price discovery process, comprising a private placement to institutional and qualified investors alongside a secondary market offer to Xryma existing shareholders (“shareholders”) wishing to exit prior to listing.  

The admission referred to above that is subject to the approval of Euronext may also be subject to approval by relevant regulatory authorities, and no assurance can be given that approval will be granted or as to the timing of any admission.

The pre-listing liquidity facility and price discovery process is designed to:

Enable shareholders seeking an exit to participate without the need to open an EU brokerage account,Provide a clear and orderly opportunity for existing shareholders to sell all or part of their holdings ahead of any potential admission to trading on Euronext Paris,Enable shareholders to sell all or part of their holdings at the same price at which qualified and institutional investors subscribe for shares in the Company,Establish, through a bookbuild with qualified and institutional investors, a market-validated referenced price for Xryma shares ahead of any potential admission on Euronext Paris (the “Primary Market Placement Price”),Support orderly trading upon potential admission.

Individual shareholder mailouts explaining the details of the pre-listing liquidity facility scheme with instructions and necessary documentation will be conducted during August 2026.

As the Primary Market Placement Price is to be determined by the subsequent bookbuild, shareholders will be given the opportunity to set a floor price which will result in the sale of their shares if the Primary Market Placement Price is higher.  Shareholders will receive the Primary Market Placement Price minus applicable fees.

Shareholders and Investors may be scaled back to match corresponding demand from the other party, with partial fulfilment a possibility if the Company cannot match supply to demand.

Completion of the process is subject to achieving a level of institutional and qualified investor demand that the Board considers appropriate to support an orderly market should Xryma subsequently be admitted to trading on Euronext Paris.

Participation is entirely voluntary. Shareholders who do not wish to sell will simply retain their shares. Shareholders that do not intend to participate should continue to onboard with a Euronext participating broker, or a Euroclear ESES custodian, per previous communications.

The major shareholders, SCP Select All Enterprise (Monaco) and SCP Red 5 Solutions (Monaco) will not participate in the offer and will be subject to lock up arrangements.

Mr Nikogiannis (John) Karantzis, CEO of Xryma Plc comments: “Our shareholders have told us they would value a straightforward way to realise their holdings without the time and cost of opening an EU brokerage account. This process is our response to that feedback. We are structuring the placement to be large enough to establish a credible reference price whilst limiting dilution, with demand directed first towards meeting shareholder sell interest. We look forward to updating the market on the revised timetable in due course.”

Shareholders seeking a more detailed explanation of the pre-listing liquidity facility and price discovery process, should refer to the guide available at https://www.xryma.com/investors

Important Information & Disclaimers

This press release may contain inside information within the meaning of Article 7(1) of Regulation (EU) 596/2014 (Market Abuse Regulation).

This publication is not for publication or distribution or release, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the United States and the District of Columbia), Canada, Australia, South Africa, Japan or any other jurisdiction where such an announcement would be unlawful. The distribution of this publication may be restricted by law in certain jurisdictions and persons into whose possession this document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. No action has been taken that would permit an offering of the treasury shares or possession or distribution of this publication in any jurisdiction where action for that purpose is required.

This publication does not constitute or form part of an offer for sale or solicitation of an offer to purchase or subscribe for securities in the United States, Canada, Australia, South Africa, Japan or any other jurisdiction and the securities referred to herein have not been registered under the securities laws of any such jurisdiction. Any New Shares (if such are issued) will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or under the securities laws of any State or any other jurisdiction of the United States, and may not be offered or sold, directly or indirectly, in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of, the Securities Act and in compliance with all applicable securities laws of any State or any other jurisdiction of the United States. No public offering of securities is being made in the United States or in any other jurisdiction.

The information set forth herein must not be distributed in any jurisdiction where such distribution is unlawful, and any recipients are requested to inform themselves about and to observe such restrictions.

The Offering referred to herein by Xryma Plc will only be made in accordance with all applicable corporate and securities laws. Any shares referred to herein will exclusively be offered or sold in reliance on any applicable exemptions from prospectus or registration requirements in any jurisdiction. In member states of the European Economic Area, this publication is only addressed to and directed at persons who are ‘qualified investors’ within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (as amended and including any relevant delegated regulations, the “Prospectus Regulation”) or in any other circumstances falling within exemptions available in the relevant member state under Article 1(4) and/or 1(5) of the Prospectus Regulation. In the United Kingdom, this publication is only addressed to and directed at qualified investors within the meaning of the Prospectus Regulation, as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended (“EUWA”), who are persons (i) who have professional experience in matters relating to investments falling within Article 19(5) (investment professionals) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Order”), (ii) falling within article 49(2)(a) to (d) (high net worth companies, incorporated associations, etc.) of the Order, or (iii) to whom it may otherwise be lawfully communicated; any other persons in the United Kingdom should not take any action on the basis of this publication and should not act on or rely on it.

This publication does not constitute a recommendation concerning the prospective Offering. This announcement does not constitute an Offer or invitation to subscribe.

This announcement includes statements that are, or may be deemed to be, ‘forward looking statements’. These forward-looking statements can be identified by the use of forward looking terminology, including the terms ‘believes’, ‘estimates’, ‘anticipates’, ‘expects’, ‘intends’, ‘may’, ‘will’, or ‘should’ or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. By their nature, forward looking statements involve risk and uncertainty because they relate to future events and circumstances which may or may not occur. Many of these factors are beyond the control of the Company. Should one or more of these risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results and circumstances may vary materially from those described in this announcement as anticipated, believed, estimated or expected.

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