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Shanghai Electric Reports FY 2024 H1 Revenue of RMB 49.869 Billion with 22.6% YoY Net Profit Growth

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SHANGHAI, Sept. 5, 2024 /PRNewswire/ — Shanghai Electric (“the Company”) (SEHK:2727, SSE:601727) releases its financial results for the first half of 2024, reporting a revenue of RMB 49.869 billion, with the net profit attributable to shareholders hitting RMB 602 million, a 2.0% increase compared to the previous year. In H1, the Company also achieved a gross profit margin of 19.2%, while cash and cash equivalents stood at RMB 34.102 billion.

During the reporting period, Shanghai Electric has continued to advance its strategy for sustainable growth, with sales expenses reduced to RMB 1.362 billion and financial expenses down by 30.58% to RMB 202 million. The Company’s research and development (R&D) investment remained steady, with a total of RMB 2.327 billion, consistent with the same period last year.

Shanghai Electric’s strong focus on high-end equipment manufacturing has delivered positive outcomes across its key businesses. For the energy equipment, the Company generated revenue of RMB 24.654 billion, with a gross profit margin of 20.10%. The industrial equipment division reported revenue of RMB 18.959 billion, achieving a gross profit margin of 17.40%, while the integrated service business posted revenue of RMB 7.961 billion, with a gross profit margin of 16.60%. Overall, Shanghai Electric secured new orders worth RMB 83.66 billion in the first half of the year, an increase compared to the same period last year.

Continued innovation and growth driven by a diverse energy portfolio

In the thermal power segment, the Company secured new orders for coal-fired equipment totaling RMB 21.99 billion, including a project with China United Gas Turbine Technology to design an integrated manufacturing platform with the assembly of the first 300 MW gas turbine.The Company expanded its energy storage portfolio with new cutting-edge solutions, including vanadium flow batteries, compressed air systems, and molten salt storage technology for concentrated solar power. The 300 MW compressed air energy storage station in China set three world records for its single-unit power, project scale, and conversion efficiency upon its grid connection.In the hydrogen sector, Shanghai Electric has established itself as a full-spectrum solution provider, covering production, storage, refueling, and utilization. The Company’s latest Z-series alkaline electrolyzer showcases industry-leading efficiency, with a single unit capable of producing up to 3,000 Nm³/h of hydrogen.

A pioneering force empowering the global energy transition

Middle East : In Dubai, the Company is behind the world’s largest standalone Concentrated Solar Power (CSP) and Photovoltaic (PV) project, with the 950MW renewable energy project set to cut carbon emissions by 1.6 million tons annually. Europe : In France, the Wunberg 5MW PV hydrogen production project marks Shanghai Electric’s inaugural overseas venture in hydrogen equipment sales after exporting vanadium flow battery energy storage products to Spain. Southeast Asia and East Asia : Shanghai Electric Wind Power has secured orders in South Korea, Vietnam, and Indonesia, further cementing its presence in the Asian market.

For more information about Shanghai Electric, please visit https://www.shanghai-electric.com/group_en/ .

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SOURCE Shanghai Electric

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Gaotu Techedu to Report Fourth Quarter and Fiscal Year 2024 Financial Results on February 26, 2025

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BEIJING, Feb. 13, 2025 /PRNewswire/ — Gaotu Techedu Inc. (“Gaotu” or the “Company”) (NYSE: GOTU), a technology-driven education company and online large-class tutoring service provider in China, today announced that it will report its financial results for the fourth quarter and fiscal year 2024 ended December 31, 2024, before U.S. markets open on Wednesday, February 26, 2025.

Gaotu’s management will hold an earnings conference call at 8:00 AM U.S. Eastern Time on Wednesday, February 26, 2025 (9:00 PM on the same day, Beijing/Hong Kong Time). Dial-in details for the earnings conference call are as follows:

International:

+1-412-317-6061

United States:

+1-888-317-6003

Hong Kong:

800-963-976

Mainland China:

400-120-6115

Passcode:

2778362

A telephone replay will be available two hours after the conclusion of the conference call through March 5, 2025. The dial-in details are as follows:

International:

+1-412-317-0088

United States:  

+1-877-344-7529

Passcode:

4036127

Additionally, a live and archived webcast of this conference call will be available at https://ir.gaotu.cn/home.

About Gaotu Techedu Inc.   

Gaotu is a technology-driven education company and online large-class tutoring service provider in China. The Company offers learning services and educational contents & digitalized learning products. Gaotu adopts an online live large-class format to deliver its courses, which the Company believes is the most effective and scalable model to disseminate scarce high-quality teaching resources to aspiring students in China. Big data analytics permeates every aspect of the Company’s business and facilitates the application of the latest technology to improve teaching delivery, student learning experience, and operational efficiency.

For further information, please contact:

Gaotu Techedu Inc.
Investor Relations
E-mail: ir@gaotu.cn

Christensen

In China
Ms. Alice Li
Phone: +86-10-5900-1548
E-mail: gotu@christensencomms.com 

In the US
Ms. Linda Bergkamp
Phone: +1-480-614-3004 
E-mail: linda.bergkamp@christensencomms.com 

View original content:https://www.prnewswire.com/news-releases/gaotu-techedu-to-report-fourth-quarter-and-fiscal-year-2024-financial-results-on-february-26-2025-302375811.html

SOURCE Gaotu Techedu Inc.

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Agoda: Thai Couples Lead Asia in Domestic Travel for Valentine’s Day

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BANGKOK, Feb. 13, 2025 /PRNewswire/ — Agoda reveals Thai couples to be leading in domestic travel compared to couples from other Asian markets this Valentine’s Day. Thai couples are followed by those from Japan and the Philippines, following in second and third place, respectively.

This year, Valentine’s Day falls on a Friday, providing a great opportunity for a weekend getaway. The most popular domestic destinations are Bangkok, Pattaya, Chiang Mai, Khao Yai (a newcomer in the rank), and Hua Hin. In 2024, Bangkok, Pattaya, and Chiang Mai also held the top three positions, but were then followed by Hua Hin and Phuket, respectively.

For international travel, the top destinations for Thai couples this year are Tokyo, Hong Kong, Singapore, Taipei, and Osaka. Tokyo maintains its number one spot.

Pierre Honne, Country Director Thailand at Agoda, shared: “Valentine’s Day may not be a public holiday, but it’s a special time for couples to celebrate with loved ones. Whether through a romantic dinner or a weekend getaway, it is a great reason to travel. This year especially since Valentine’s Day falls on a Friday. Agoda offers great value deals for flights, accommodations, and various travel activities to help couples celebrate the day of love with joy and memorable experiences.”

For couples planning Valentine’s Day travel, Agoda provides access to over 5 million accommodations, more than 130,000 flight routes, and over 300,000 activities, all available on the platform. Download the Agoda app for the latest special deals or visit www.agoda.com/deals.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/agoda-thai-couples-lead-asia-in-domestic-travel-for-valentines-day-302375821.html

SOURCE Agoda

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ACKO Unveils New Brand Identity: What it Means for Policyholders

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BANGALORE, India, Feb. 13, 2025 /PRNewswire/ — ACKO, India’s leading digital insurer, has unveiled a bold new brand identity and visual system to reflect its commitment to providing innovative and seamless insurance solutions to Indians. As part of the rebranding, ACKO has introduced a new vibrant logo and visual assets, conveying the company’s core values of trust, transparency, and reliability.

ACKO was founded in 2016 with the vision to leverage technology and data to make insurance simple, affordable, and accessible to all Indians. Over the years, the company has disrupted the traditional insurance sector by introducing many industry-first innovations like bite-sized auto insurance products, usage-based insurance, and real-time claim settlement. The rebranding aims to reinforce ACKO’s position as a new-age insurer that is disrupting traditional models and norms.

The company’s new logo features a bold and minimalistic wordmark with clean lines and vibrant gradient colours. The visual assets and imagery showcase human stories that are positive, energetic, and relatable. ACKO aims to build authentic connections and trust with the fast-growing digital consumer base in India through this rebranding.

Speaking about the change, ACKO believes that its new brand identity is modern, human, and reflective of its values. The vibrant purple colours represent the energy and innovation that ACKO as a brand exudes. The imagery tells compelling human stories that its audience can relate to.

As ACKO continues to scale exponentially, its rebranding signifies the next phase in its growth journey. They aim to drive deeper brand love and recall as they move forward in their mission to make insurance accessible to all Indians.

Key Highlights of ACKO’s Rebranding:

New Logo:

The new ACKO logo features a minimalistic wordmark, doing away with the quirky logo. The sharp and bold ACKO typography with clean lines represents the company’s tech-driven approach. The gradient purplish colour infuses vibrancy and human warmth. The logo shape can morph and extend into different geometrical shapes and layouts for adaptability across platforms.

Visual System:

The new visual system is bright, and energetic and uses vibrant shades of purple, white, and pink—moving away from the traditional bike and car insurance palette. The imagery focuses on human stories and emotions that consumers can relate to. ACKO aims to build authenticity and trust through this vibrant, warm, and energetic identity.

Advertising Campaign:

In tandem with the rebranding, ACKO also rolled out a new brand campaign, with actors like Sanjay Dutt and Arshad Warsi, to promote its revamped identity. The campaign reinforces ACKO’s core proposition of making car and bike insurance effortless and straightforward for consumers. It features quirky scripts to underscore how ACKO Insurance makes life easier amidst complex daily situations.

Easy Interfaces:

ACKO has refreshed its user interfaces across websites and apps to reflect the new brand identity. The interfaces are now more vibrant, inviting, and intuitive, which delivers a smooth experience. Illustrations and minimalistic iconography are used extensively to enhance engagement.

Their new brand identity is contemporary, relatable, and distinctive. It symbolises ACKO’s promise of using technology in innovative ways to make insurance joyful. This is an important milestone in their journey towards democratising insurance coverage for Indians.

ACKO currently serves over 8 crore users across motor, health and travel insurance. It aims to further accelerate growth and achieve greater brand salience powered by this rebranding.

About ACKO

ACKO Technology and Services Pvt Ltd. is a new-age insurance company that leverages technology, data, and innovation to make insurance simple, convenient, and transparent for consumers. Founded in 2016 by Varun Dua, ACKO is India’s first digital insurer with a 100% paperless onboarding process. ACKO provides motor, health, and travel insurance to over 8 crore customers across the country. With its direct-to-consumer model and omnichannel presence, ACKO aims to deliver delightful customer experiences end-to-end. ACKO is backed by marquee investors. The company is headquartered in Bangalore. For more information, visit www.acko.com.

 

View original content:https://www.prnewswire.com/in/news-releases/acko-unveils-new-brand-identity-what-it-means-for-policyholders-302375827.html

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