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Progressive Planet announces record Q2 Net Income

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Progressive Planet reports gross margin of 38.6%, its highest everOperational income surged to $1.05 million in Q2, up from $257K in the same period last yearRising profitability allows recognition of deferred income tax assets on the balance sheet

KAMLOOPS, BC, Dec. 4, 2024 /CNW/ – Progressive Planet Solutions Inc. (TSXV: PLAN) (OTCQB: ASHXF) (“Progressive Planet”, “PLAN”, or the “Company”) is pleased to announce its financial results for its second quarter ending on October 31, 2024.

The Company’s implementation of its cost cutting plan beginning in late fiscal 2023, and its parallel focus on transitioning to higher-margin products, have contributed to a significant improvement in profitability during the second quarter, as compared to the prior year’s second quarter.

“In fiscal 2024, we focused on cost controls and positioning for long-term growth. This strategy paid off with a standout second quarter, driven by higher-margin products and disciplined execution. These record profits reflect our team’s dedication to delivering sustainable shareholder value. I couldn’t be prouder of what our team has achieved—and this is just the beginning.,” stated Steve Harpur, CEO.

Q2 Fiscal 2024 vs. Q2 Fiscal 2025:

Increased EBITDA1 by $697K, from $205K to $902KRevenue increased from $5.438 million to $5.468 millionGross profit increased by 32%, from $1.593 million to $2.110 millionGross margin2 increased from 29.3% to 38.6%Income from operations improved by $795K, from $257K in to $1.052 millionNet income improved from net loss of $(182K) to $623K net income

“Our record net income and the sale of under-utilized assets boosted our cash balance to over $2.9 million in Q2,” said Harpur. “As noted in September, our engineering team has been focused on enhancing productivity in our valve pack powder bagging and palletizing line. With engineering work nearly complete, we plan to begin equipment procurement in the first quarter of 2025 (January to March 2025). While our financial results were strong, they were impacted by a write-down on a private company investment.”

When Progressive Planet acquired Absorbent Products Ltd. in 2022, The Company inherited over $12 million in historical tax losses. At the time, these losses were not recorded as a future tax benefit on PLAN’s balance sheet due to a lack of profitability. However, with significant improvements in profitability over the past 18 months, Progressive Planet now expects to generate taxable income moving forward, unlocking the value of these historical tax assets.  After consulting with its auditors, Progressive Planet has added $486,000 as a deferred income tax asset3 to its balance sheet. This amount which represents the estimated income tax liability for the next 12 months, which can be offset using the historical tax losses.

“We have taken a measured approach to recognizing the value of deferred income assets. We will review, and adjust as necessary, the deferred income tax asset value on our balance sheet every quarter going forward,” stated Chris Halsey-Brandt, CFO.

EBITDA is a non-IFRS financial measure. This ratio expresses earnings before interest, income taxes, depreciation, and amortization. It assists in explaining the Company’s results from period to period. There is not directly comparable IFRS measure.Gross margin is a non-IFRS financial measure. This ratio expresses gross profit as a percentage of revenue for a given period. It assists in explaining the Company’s results from period to period and measuring profitability. This ratio is calculated by dividing gross profit for a period by the corresponding revenue for the period. There is no directly comparable IFRS measure.Deferred income tax asset is a IFRS measure which reflects the amount of income taxes recoverable in future periods in respect of deductible temporary differences; the carryforward of unused tax losses; and the carryforward of unused tax credits.

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Progressive Planet provides regular information for investors on its website:  progressiveplanet.com/investors/. This includes press releases and other information about financial performance, patents filed, and information on corporate governance.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

About Progressive Planet:

Progressive Planet, based in Kamloops, British Columbia, is redefining sustainability with our Products for a Healthy Planet™. By leveraging owned mineral assets and recycled materials, we develop patented and patent-pending innovations that promote a healthier planet.

Our C-Quester™ Centre of Sustainable Solutions leads advancements in low-carbon cement technologies, while our second on-site lab focuses on sustainable solutions for agriculture and animal care. Progressive Planet’s products are proudly available in over 10,000 retail locations across North America. For more information, visit progressiveplanet.com.

Forward-Looking Statements:
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein including statements regarding the NCIB and the repurchases thereunder as well as the effect of those repurchases, statements regarding the future of the Bromley Creek Zeolite Mine and statements regarding the development of future products. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release.

Disclaimer:
This news release, required by Canadian laws, does not constitute an offer of securities and is not for distribution or dissemination outside Canada.

 

SOURCE Progressive Planet Solutions Inc.

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CNN to bring its Global Perspectives events series to Bangkok

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Conversations to be led by CNN journalists including Dr. Sanjay Gupta, Richard Quest and Kristie Lu Stout

HONG KONG, April 21, 2026 /PRNewswire/ — CNN will hold the inaugural Asia chapter of its Global Perspectives events franchise in Bangkok, Thailand, on 14 October 2026, reinforcing the network’s commitment to convene global leaders and fostering dialogue on the critical issues shaping international business, policy and economic development.

CNN will bring together dignitaries, visionaries, political and business leaders for Global Perspectives: In Bangkok, to explore big ideas, bold leadership and the dynamic economies at the forefront of global transformation. On-stage conversations will be led by CNN’s esteemed anchors and correspondents, including Dr. Sanjay Gupta, Richard Quest, Kristie Lu Stout, Will Ripley and Hanako Montgomery, with editorial content and news-making interviews from the event featured across CNN platforms.

Expanding the Global Perspectives series with this Bangkok edition underscores CNN’s long-standing engagement in Asia. As a historic economic and cultural crossroads, Bangkok sits at the intersection of global economic dynamism, regional influence and vibrant cultural energy. The event will take place as global leaders, investors and policymakers gather in the city for the International Monetary Fund and World Bank Group Annual Meetings, creating an exclusive platform for CNN to examine a world in transition and the forces reshaping power and influence.

Ellana Lee, Group SVP, GM APAC, & Global Head of Productions at CNN, said: “Global Perspectives: In Bangkok will reflect CNN’s deep commitment to Asia and will aim to foster conversations that matter most on the global stage. At a time of rapid transformation, this event will bring together influential voices to examine the ideas, opportunities and challenges shaping the region and the world.” 

James Hunt, SVP, Head of Client Solutions & Business Lead, Global Perspectives, CNN International Commercial said: “Global Perspectives provides a unique platform for leaders and partners to engage in meaningful dialogue and connect with the forces driving global change. Hosting the event in Bangkok creates new opportunities for brand partners and sponsors to be associated with important conversations about collaboration, insight and impact at the heart of one of the world’s most dynamic regions.”

Expanding its events franchise by holding Global Perspectives: In Bangkok builds on CNN’s long-standing presence in Asia which includes a network of bureaus and correspondents across Hong Kong, Beijing, Bangkok, Taiwan, Seoul, Tokyo, New Delhi and Islamabad.

Global Perspectives is an invitation-only gathering for international decision-makers and influential leaders from across industries, including technology, finance, investment, trade, geopolitics, healthcare, media, entertainment and more. The event will be attended by heads of state, regional and global leaders, and participants can expect to form meaningful connections that will last well beyond the event itself. Global Perspectives will be hosted at The Ritz-Carlton, Bangkok. 

Further details on speakers and programming will be announced in due course. People interested in attending Global Perspectives: In Bangkok can register their interest at: https://cnnicevents.cnn.com/gpbangkok/prl

About CNN Worldwide

CNN Worldwide is the most honored brand in cable news, reaching more individuals through television, streaming and online than any other cable news organization in the United States. Globally, people across the world can watch CNN International, which is widely distributed in over 200 countries and territories. CNN Digital is the #1 online news destination, with more unique visitors than any other news source. HBO Max, Warner Bros. Discovery’s streaming platform, features CNN Max, a 24/7 streaming news offering available to subscribers alongside expanded access to News content and CNN Originals. CNN’s award-winning portfolio includes non-scripted programming from CNN Original Series and CNN Films for broadcast, streaming and distribution across multiple platforms. CNN programming can be found on CNN, CNN International and CNN en Español channels, via CNN Max and the CNN Originals hub on discovery+ and via pay TV subscription on CNN.com, CNN apps and cable operator platforms. Additionally, CNN Newsource is the world’s most extensively utilized news service partnering with over 1,000 local and international news organizations around the world. CNN is a division of Warner Bros. Discovery.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/cnn-to-bring-its-global-perspectives-events-series-to-bangkok-302748000.html

SOURCE CNN International

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Quality Executive Partners, Inc.® Announces Exclusive Partnership with Vi’eNnI® Training and Consulting LLP to Accelerate Workforce Development in India’s Huge Pharmaceutical Sector with Virtuosi®

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ATLANTA and BENGALURU, India, April 21, 2026 /PRNewswire/ — Quality Executive Partners, Inc.® (QxP), a global leader in pharmaceutical quality, workforce development, regulatory compliance, and manufacturing consulting, today announced an exclusive strategic partnership with Vi’eNnI® Training and Consulting LLP to introduce and scale Virtuosi® across the Indian biopharmaceutical market.

Virtuosi helps biopharmaceutical manufacturers to solve one of their most critical operational challenges—the readiness of the workforce to perform in high-risk, high-complexity GMP environments—by building and sustaining operational capability across the employee lifecycle.

Under this agreement, Vienni will be QxP’s exclusive partner for Virtuosi in India, leading market engagement, client identification, and commercial activities.

Vi’eNnI® TRAINING & CONSULTING LLP: Enabling Scalable Training Excellence Across India

Vi’eNnI® is a recognized leader in pharmaceutical training and capability development in India, with a strong track record in GMP education, regulatory compliance, and industry engagement. Vi’eNnI® through its association with Eduoriens Skill Development LLP and professional bodies such as Parenteral Drug Association (PDA) India, Vienni operates at the center of India’s pharmaceutical training and compliance ecosystem.

With this established network, operational credibility, and relationships across India’s leading pharmaceutical manufacturers, Vienni is uniquely positioned to drive the adoption of Virtuosi at scale across the Indian market.

“This alliance is intended to deepen, enrich, and embed the field of training. The advantage of this collaboration is expected to make learning stick, with recall much higher when a participant leaves the learning zone,” said Vishal Sharma, Co-Founder Director, Vi’eNnI® TRAINING & CONSULTING LLP

“This marks the beginning of driving innovation and shaping outcomes that matter. Together, we forge a partnership that speaks the language of impact, influence, and enduring progress for teaching-learning & implementation,” said Ivy Louis, Founder Director, Vi’eNnI® TRAINING & CONSULTING LLP

“Vi’eNnI®’s mission is to empower doers to excel in their craft. This association with QxP for Virtuosi marks a pivotal step in advancing workforce capability and highlighting the strategic value of immersive training in India. We are proud to continue driving this mission forward.”

“We are honored to partner with Vi’eNnI® , a highly respected organization with deep roots in the Indian pharmaceutical industry,” said Crystal Mersh, Chief Executive Officer of Quality Executive Partners, Inc. “Together, we are enabling broader access to Virtuosi in a way that allows clients to build and sustain the knowledge, skills, and behaviors required to perform under real operating conditions. This embeds compliance and capability into daily execution in order to deliver high quality medicines to patients around the world.”

Virtuosi by QxP: Advancing Workforce Capability in India’s Globally Critical Pharmaceutical Hubs

India is one of the most critical pharmaceutical manufacturing markets globally and is poised for significant growth in the coming years, particularly across biologics, biosimilars, and advanced therapies. As manufacturers expand into more complex product categories and face increasing scrutiny from global regulatory agencies—including the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA) —the ability to rapidly build, standardize, and sustain a high-performing, inspection-ready workforce has become a strategic priority.

cGMP experts at QxP created Virtuosi to address this exact challenge. Virtuosi is an immersive workforce readiness program accredited by the International Accreditors for Continuing Education and Training (IACET), aligning with globally recognized standards for continuing education and distinguishing it as the only virtual reality–based training program to achieve such accreditation.

Combining virtual reality interactive experiences with digital course content, Virtuosi enables professionals to practice critical manufacturing and quality processes—such as aseptic operations, microbiology, and advanced therapies—in realistic, risk-free environments. The platform includes over 100 hours of education, 56 technical courses, and 20 immersive VR experiences, and is available in seven languages—English, French, German, Italian, Mandarin, Spanish, and Swedish—to support global workforce standardization. Virtuosi helps organizations reduce human error, accelerate time to competency, and improve compliance and operational performance across global pharmaceutical operations.

By shifting training from passive instruction to experiential learning, Virtuosi helps reduce time to competency and human error, improve inspection readiness, and drive measurable quality outcomes which translates directly to revenue protection and growth. This partnership strengthens not only the competitiveness of individual organizations, but also the long-term resilience, regulatory standing, and global leadership of India’s pharmaceutical sector.

About Quality Executive Partners, Inc.® (QxP)

Quality Executive Partners, Inc. (QxP) is a premium CGMP consulting firm focused on solving complex operational and regulatory challenges in pharmaceutical manufacturing. QxP services pharmaceutical manufactures and CDMOs globally across all major modalities – OTC, oral solid dosage, sterile, biologics, ATMPs, clinical-stage manufacturing, and combination products. We support clients throughout the product lifecycle, including clinical operations, commercial readiness, regulatory strategy, quality transformations, and remediation. Through our ‘Teach and Do®’ model, QxP embeds senior GMP experts / former regulators into day-to-day operations to execute alongside client teams and build internal capability. This model ensures solutions are effective in practice, sustainable, and directly reduce operational risk. .

About Vi’eNnI®

Vi’eNnI® Training and Consulting LLP is a pharmaceutical training and consulting organization based in Bengaluru, India, focused on advancing workforce capability, regulatory compliance, and operational excellence across the life sciences sector, for the past 16 years. The company delivers targeted training and consulting services across GMP, quality systems, aseptic processing, microbiology, and inspection readiness, competency and culture building initiatives, helping organizations strengthen performance, consolidate efficiency and achieve sustainable compliance. Known for its practical, implementation-focused approach, Vi’eNnI® enables pharmaceutical and biotechnology companies to translate training into measurable improvements on the shop floor, supporting continuous improvement and long-term capability development across India’s pharmaceutical industry with a variety of options and tools.

Media Contact (Global)
Robin Mersh
SVP, Virtuosi Sales
Quality Executive Partners, Inc.
Email: RobinMersh@QualityExecutivePartners.com
Phone: (+1) 678-496-7503

Media Contact (India)
Ivy Louis
Founder-Director
Vi’eNnI® Training and Consulting LLP
Email: Ivy_louis@vienni.com
Phone: +91 9986821045
WhatsApp: +91 9986821045

Vi’eNnI® & Virtuosi® are registered trademarks for VIENNI & Quality Executive Partners, Inc., respectively.

Logo – https://mma.prnewswire.com/media/2790799/5926395/Virtuosi_Logo.jpg

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Tuniu Corporation Files Its Annual Report on Form 20-F

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NANJING, China, April 20, 2026 /PRNewswire/ — Tuniu Corporation (NASDAQ:TOUR) (“Tuniu” or the “Company”), a leading online leisure travel company in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the Securities and Exchange Commission on April 20, 2026, U.S. Eastern Time. The annual report can be accessed on the Company’s investor relations website at http://ir.tuniu.com or the SEC’s website at www.sec.gov. The Company will provide a copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to the Investor Relations Department at 12th floor, building 6-A, Juhuiyuan, No.108 Xuanwudadao, Xuanwu District, Nanjing, Jiangsu Province 210023, The People’s Republic of China.

About Tuniu Corporation

Tuniu (Nasdaq: TOUR) is a leading online leisure travel company in China that offers integrated travel service with a large selection of packaged tours, including organized and self-guided tours, as well as travel-related services for leisure travelers through its website tuniu.com and mobile platform. Tuniu provides one-stop leisure travel solutions and a compelling customer experience through its online platform and offline service network, including a dedicated team of professional customer service representatives, 24/7 call centers, extensive networks of offline retail stores and self-operated local tour operators. For more information, please visit http://ir.tuniu.com.

View original content:https://www.prnewswire.com/news-releases/tuniu-corporation-files-its-annual-report-on-form-20-f-302747995.html

SOURCE Tuniu Corporation

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