Connect with us

Technology

Jowell Global Ltd. Announces First Half 2024 Unaudited Financial Results

Published

on

— First Half Revenue of $85.7 million, increase 1.5% year-over-year —

— First Half GMV of $107.3 million, down 7.0% year-over-year —

SHANGHAI, Dec. 19, 2024 /PRNewswire/ — Jowell Global Ltd. (“Jowell” or the “Company”) (NASDAQ: JWEL), one of the leading cosmetics, health and nutritional supplements, and household products e-commerce platforms in China, today announced its unaudited financial results for the six months ended June 30, 2024.

First Half 2024 Financial and Operational Highlights

Total revenues were $85.7 million, an increase of 1.5% from $84.4 million in the same period of 2023.Net loss was $3.8 million, a decrease of 47.1%, as compared to the net loss of $7.1 million in the same period of 2023.Total GMV (Gross Merchandise Value) transacted in our online shopping mall was $107.3 million, a decrease of 7.0% from $115.5 million in the same period of 2023.Total VIP members[1] as of June 30, 2024 were approximately 2.7 million, an increase of 8.5% compared to approximately 2.5 million as of June 30, 2023.Total LHH stores[2] as of June 30, 2024 were 26,795, an increase of 1.0% compared to 26,528 as of June 30, 2023.

[1] “Total VIP members” refers to the total number of members registered on Jowell’s platform as of June 30, 2024
and June 30, 2023.

[2] “LHH stores” refers to the brand name of “Love Home Store”. Authorized retailers may operate as independent
stores or store-in-shop (an integrated store), selling products they purchased through Jowell’s online platform
LHH Mall under their retailer accounts, which provides them with major discounts.

First Half 2024 Financial Results

Total Revenues

Total revenues for the first half 2024 were $85.7 million, representing an increase of 1.5% from $84.4 million in the same period of 2023. Our weighted average unit price was $5.16 per unit for the first half of 2024, which represented an increase of 4.2% as compared to $4.95 per unit for the same period of 2023.

Our health and nutritional supplements revenue for the first half of 2024 increased by about $11.1 million, or 182.1%, as compared to the same period of 2023. The increase in health and nutritional supplements revenue was mainly due to the increase in sales of premium brand health and nutritional supplements. We have stepped up our promotions on these items during the Chinese New Year holidays in the first half of 2024 in an attempt to offer more promotional discounts in response to the overall market downturn.

First Half Ended June 30

%

2024

2023

change

Revenues (in thousands, except for percentages)

US$

US$

YoY*

Product sales

•    Cosmetic products

19,768.5

29,495.5

(33.0 %)

•    Health and nutritional supplements

17,190.7

6,094.2

182.1 %

•    Household products

48,438.7

48,473.1

(0.1 %)

•    Others

286.4

343.4

(16.6 %)

Total

85,684.3

84,406.2

1.5 %

* YOY—year over year

Total cost and operating expenses were $89.6 million in the first half of 2024, a decrease of 1.5% from $91.0 million in the same period of 2023.

Costs of revenues were $84.8 million in the first half of 2024, an increase of 1.3% from $83.8 million in the same period of 2023, which including an increase of $11.1 million in health and nutritional supplements and partially offset by a decrease of $7.9 million in cosmetic products and $1.4 million in household products.Cost of revenues of health and nutritional supplements for the first half 2024 increased about 189.9% as compared to the same period of 2023. The increase was primarily due to a 65.7% increase in weighted average unit cost. The increase in weighted average unit costs for our health and nutritional supplements is mainly because we offered and sold more higher unit price products in the first half 2024 than the same period of 2023.The decrease in the cost of cosmetic products and household products was attributable to a decrease in the weighted average unit cost and a decrease in sales volume. The weighted average unit cost of cosmetic products decreased from $2.94 in the first half of 2023 to $2.47 in the first half of 2024, and weighted average unit cost of household products decreased from $8.18 in the first half of 2023 to $8.11 in the first half of 2024, both decreases mainly due to reduced customers discretionary spendings on premium brands and their preference to low cost, low price and necessity household products during the first half of 2024, as compared to the same period of 2023. The cosmetic products sales volume declined the most, with a decrease of 13.5% during the first half of 2024 comparing to the same period of 2023.Fulfillment expenses primarily consist of costs related to expenses paid for order preparing, packaging, outbound freight, and physical storage. Fulfillment expenses were $0.8 million in the first half of 2024, a decrease of 56.8% from the $1.9 million in the same period of 2023. Fulfillment expenses as a percentage of total revenues were 1% in the first half of 2024, down from 2.3% in the first half of 2023. The significant reduction in fulfillment costs are attributed to our cost reduction measures in logistics. Firstly, we reduced the rental area of warehouses and labor costs in the logistics process; Secondly, we switched to logistics service providers with lower cost to replace the original ones, significantly reducing express logistics costs.Marketing expenses primarily consist of targeted online advertising, and payroll and related expenses for personnel engaged in marketing and selling activities. Marketing expenses were $2.8 million in the first half of 2024, a decrease of 15.8% from the $3.3 million in the same period of 2023. The decrease was primarily due to a decrease in our marketing and promotion activities. Marketing expense as percentage of total revenues was 3.2% in the first half of 2024, down from 3.9% in the same period of 2023.General and administrative expenses mainly consist of payroll, depreciation, office supplies and upkeep. General and administration expenses were $1.2 million in the first half of 2024, a decrease of 40.1% from $2.0 million in the same period of 2023. General and administration expenses as percentage of total revenues was 1.4% in the first half of 2024, down from 2.3% in the same period of 2023.

Operating Loss

Operating loss was $4.0 million for the first half of 2024, compared with the operating loss of $6.6 million in the same period of 2023. The decrease in operating loss for the first half of 2024 was mainly due the decrease of marketing expenses, as well as reduction of operating expenses as discussed above.

Net Loss 

Net loss was $3.8 million, a decrease of 47.1% compared with net loss of $7.1 million in the same period of 2023, which was mainly due the factors mentioned above.

Loss per Share 

The Company computes earnings (loss) per share (“EPS”) in accordance with ASC 260, “Earnings per Share” (“ASC 260”). Each of the Company’s Preferred Share has voting rights equal to two Ordinary Shares of the Company and each Preferred Share is convertible into one Ordinary Share at any time. Except for voting rights and conversion rights, the Ordinary Shares and the Preferred Shares rank pari passu with one another and have the same rights, preferences, privileges and restrictions. For the first half ended June 30, 2024 and 2023, respectively, the Company had no potential ordinary shares outstanding that could potentially dilute EPS in the future.

Cash and Cash Equivalents

For the first half of 2024, the Company reported a net loss of $3.8 million, a negative operating cash flow of $41,012 and an accumulated deficit of approximately $29.8 million. The Company’s principal sources of liquidity are sales revenues, proceeds from a private placement and a registered direct offering. As of June 30, 2024, the Company had cash and restricted cash of approximately $0.8 million, held by the variable interest entity (VIE) Shanghai Juhao Information Technology Co., Ltd. (“Shanghai Juhao”) with banks and financial institutions inside China as the Company conducts its operations primarily through the consolidated VIE in China; the Company’s working capital as of June 30, 2024 was $13.4 million. Due to the uncertainty of the current market environment, management believes it is necessary to enhance the collection of its outstanding accounts receivable and other receivables, and to be cautious in terms of its operational decisions and project selections. As of October 31, 2024, approximately $1.8 million, or 62%, of its accounts receivable balance as of June 30, 2024 were collected, and approximately $9.9 million, or 93%, of its advances to supplier balance as of June 30, 2024 were utilized. In addition, the Company’s Form F-3 registration was declared effective on August 31, 2022, and the Company may also seek equity financing from outside investors if necessary.

Based on the latest business plan of the Company, Shanghai Juhao has reduced its promotion efforts and marketing expenditures since the second half of 2023, which reduced the cash used in operating activities. Management believes that the above-mentioned factors, including cash on hand of approximately $0.8 million, will provide sufficient liquidity for the Company to meet its future liquidity and capital requirements for at least the next twelve months.

About Jowell Global Ltd.

Jowell Global Ltd. (the “Company”) is one of the leading cosmetics, health and nutritional supplements and household products e-commerce platforms in China. We offer our own brand products to customers and also sell and distribute health and nutritional supplements, cosmetic products and certain household products from other companies on our platform. In addition, we allow third parties to open their own stores on our platform for a service fee based upon sale revenues generated from their online stores and we provide them with our unique and valuable information about market needs, enabling them to better manage their sales effort, as well as an effective platform to promote their brands. The Company also sells its products through authorized retail stores all across China, which operate under the brand names of “Love Home Store” or “LHH Store” and “Best Choice Store”. For more information, please visit http://ir.1juhao.com/.

Exchange Rate

The Company’s financial information is presented in U.S. dollars (“USD”). The functional currency of the Company is the Chinese Yuan, Renminbi (“RMB”), the currency of the PRC. Any transactions which are denominated in currencies other than RMB are translated into RMB at the exchange rate quoted by the People’s Bank of China prevailing at the dates of the transactions, and exchange gains and losses are included in the statements of operations as foreign currency transaction gain or loss. The consolidated financial statements of the Company have been translated into U.S. dollars in accordance with ASC 830, “Foreign Currency Matters”.

This press release contains translations of certain RMB amounts into U.S. dollars (“USD” or “$”) at specified rates solely for the convenience of the reader. The exchange rates in effect as of June 30, 2024 and December 31, 2023 were RMB1 for $0.1403 and $0.1412, respectively. The average exchange rates for the six months ended June 30, 2024 and 2023 were RMB1 for $0.1407 and $0.1444, respectively.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; financial condition and results of operations; product and service demand and acceptance; reputation and brand; the impact of competition and pricing; changes in technology; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For investor and media inquiries, please contact:

Jowell Global Ltd.
Ms. Jessie Zhao
Email: IR@1juhao.com 

Jowell Global Ltd.

CONDENSED CONSOLIDATED BALANCE SHEETS

June 30,

December 31,

2024

2023

(Unaudited)

   ASSETS

   Current Assets:

Cash

$

805,344

$

1,250,281

Accounts receivable, net

2,344,481

2,401,056

Accounts receivable – related parties

47,040

Advance to suppliers

10,050,688

3,506,432

Advance to suppliers – related parties

12,493,792

9,874,545

Inventories

4,508,515

8,198,402

Prepaid expenses and other current assets

1,075,591

1,384,758

Total current assets

31,278,411

26,662,514

Long-term investment

3,709,340

3,888,377

Property and equipment, net

845,579

681,942

Intangible assets, net

532,810

634,655

Right of use lease assets, net

1,506,729

2,019,300

Other non-current asset

638,723

895,775

Deferred tax assets

512,175

515,364

Total Assets

$

39,023,767

$

35,297,927

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:

Short-term loan

$

210,473

$

423,567

Accounts payable

2,791,515

3,765,230

Accounts payable – related parties

280,530

194,818

Deferred revenue

11,691,812

2,309,957

Deferred revenue – related parties

40,000

47,059

Current portion of operating lease liabilities

1,475,947

942,989

Accrued expenses and other liabilities

975,072

782,048

Due to related parties

414,585

528,472

Taxes payable

1,487

58,233

Total current liabilities

17,881,421

9,052,373

Non-current portion of operating lease liabilities

1,032,235

Total liabilities

17,881,421

10,084,608

Commitments and contingencies

Equity

Common stock, $0.0016 par value, 450,000,000 shares authorized, 2,170,475 issued
     and outstanding at June 30, 2024 and December 31, 2023, respectively *

3,473

3,473

Preferred stock, $0.0016 par value, 50,000,000 shares authorized, 46,875 issued and
     outstanding at June 30, 2024 and December 31, 2023, respectively *

75

75

Additional paid-in capital

52,687,182

52,687,182

Statutory reserves

394,541

394,541

Accumulated deficit

(29,768,863)

(26,039,567)

Accumulated other comprehensive loss

(2,153,720)

(1,843,970)

Total Jowell Global Ltd. Stockholders’ Equity

21,162,688

25,201,734

Noncontrolling interest

(20,342)

11,585

Total Equity

21,142,346

25,213,319

Total Liabilities and Equity

$

39,023,767

$

35,297,927

* On October 25, 2023, the Company consolidated its ordinary shares at the ratio of one-for-sixteen (“Share
Consolidation”). Immediately following the Share Consolidation, the Company increased the authorized share
capital to $80,000 divided into shares of which (i) 450,000,000 shares are designated as ordinary shares with a
nominal or par value of $0.0016 per share, and (ii) 50,000,000 shares are designated as preferred shares with a
nominal or par value of $0.0016 per share. All shares and per share data for all the periods presented have been
retroactively restated.

 

 

Jowell Global Ltd.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Unaudited)

For the Six Months Ended
June 30,

2024

2023

Net Revenues

$

85,684,310

$

84,406,244

Cost and Operating Expenses:

Cost of revenues

(84,831,857)

(83,763,353)

Fulfillment expenses

(838,764)

(1,942,595)

Marketing expenses

(2,784,515)

(3,306,812)

General and administrative expenses

(1,186,747)

(1,981,967)

        Total cost and operating expenses

(89,641,883)

(90,994,727)

Loss From Operations

(3,957,573)

(6,588,483)

Other Income (Expenses), net

Interest expense

(23,997)

(39,388)

Investment loss

(170,352)

(483,214)

Other income (expense), net

385,341

(2,118)

        Other Income (expenses), net

190,992

(524,720)

Loss Before Income Taxes

(3,766,581)

(7,113,203)

Income Taxes Expense

51

2,761

Net Loss

(3,766,632)

(7,115,964)

Less: net loss attributable to noncontrolling interest

(37,336)

(26,083)

Net Loss Attributable to Ordinary Shareholders of Jowell Global Ltd.

$

(3,729,296)

$

(7,089,881)

Loss Per share – Basic and Diluted

$

(1.74)

$

(3.33)

Weighted Average Shares Outstanding – Basic and diluted*

2,170,260

2,135,574

Net Loss

$

(3,766,632)

$

(7,115,964)

Other Comprehensive Loss, net of tax

Foreign currency translation loss

(304,341)

(1,534,036)

Total Comprehensive Loss

(4,070,973)

(8,650,000)

Less: comprehensive income attributable to non-controlling interest

(31,927)

(25,637)

Comprehensive Loss Attributable to Ordinary Shareholders of Jowell Global
Ltd.

$

(4,039,046)

$

(8,624,363)

* On October 25, 2023, the Company consolidated its ordinary shares at the ratio of one-for-sixteen (“Share
Consolidation”). Immediately following the Share Consolidation, the Company increased the authorized share
capital to $80,000 divided into shares of which (i) 450,000,000 shares are designated as ordinary shares with a
nominal or par value of $0.0016 per share, and (ii) 50,000,000 shares are designated as preferred shares with a
nominal or par value of $0.0016 per share. All shares and per share data for all the periods presented have been
retroactively restated.

 

 

Jowell Global Ltd.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND 2023

(Unaudited)

Common Stock*

Preferred Stock*

Additional
Paid-in

Statutory

Retained
Earnings
(Accumulated

Accumulated
Other
Comprehensive

Total Jowell
Global Ltd.
Stockholders’

Noncontrolling

Total

Shares

Amount

Shares

Amount

Capital

Reserves

deficit)

Income (loss)

Equity

interest

Equity

Balance as of
    January 1,
    2023

2,132,788

$

3,413

46,875

$

75

$

52,557,552

$

394,541

$

(14,572,425)

$

(950,720)

$

37,432,436

$

33,471

$

37,465,907

Share-based
    compensation

3,093

$

5

129,685

129,690

129,690

Capital
    contributed
    by minority
    shareholder

36,105

36,105

Net loss for
    the period

(7,089,881)

(7,089, 881)

(26,083)

(7,115,964)

Foreign
    currency
    translation
    loss

(1,534,482)

(1,534,482)

446

(1,534,036)

Balance as of
    June 30,
    2023

2,135,881

$

3,418

46,875

$

75

52,687,237

$

394,541

$

(21,662,306)

$

(2,485,202)

$

28,937,763

$

43,939

$

28,981,702

Balance as of
    January 1,
    2024

2,170,475

$

3,473

46,875

$

75

$

52,687,182

$

394,541

$

(26,039,567)

$

(1,843,970)

$

25,201,734

$

11,585

$

25,213,319

Net loss for
    the period

(3,729,296)

(3,729,296)

(37,336)

(3,766,632)

Foreign
    currency
    translation
    loss

(309,750)

(309,750)

5,409

(304,341)

Balance as of June 30, 2024

2,170,475

$

3,473

46,875

$

75

$

52,687,182

$

394,541

$

(29,768,863)

$

(2,153,720)

$

21,162,688

$

(20,342)

$

21,142,346

* On October 25, 2023, the Company consolidated its ordinary shares at the ratio of one-for-sixteen (“Share
Consolidation”). Immediately following the Share Consolidation, the Company increased the authorized share
capital to $80,000 divided into shares of which (i) 450,000,000 shares are designated as ordinary shares with a
nominal or par value of $0.0016 per share, and (ii) 50,000,000 shares are designated as preferred shares with a
nominal or par value of $0.0016 per share. All shares and per share data for all the periods presented have been
retroactively restated.

 

 

Jowell Global Ltd.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

For the Six Months Ended
June 30,

2024

2023

Cash flows from operating activities:

Net loss

$

(3,766,632)

$

(7,115,964)

Adjustments to reconcile net loss to net cash provided by (used in) operating
activities:

      Depreciation and amortization

160,682

202,822

      Impairment loss from long-term investment

155,449

483,214

      Amortization of operating lease right-of-use assets

501,604

552,702

      Share-based compensation

129,690

Property and equipment written off

32,910

Changes in operating assets and liabilities:

      Accounts receivables

41,845

1,670,275

      Accounts receivable – related Parties

46,892

251,882

      Inventories

3,650,270

(4,785,784)

      Advance to suppliers

(6,586,006)

17,698,012

      Advance to suppliers – related parties

(2,688,537)

(180,791)

      Prepaid expenses and other current assets

301,516

(280,888)

      Accounts payables

(953,319)

(236,633)

      Accounts payables – related parties

87,183

(1,508,872)

      Deferred revenue

9,418,057

(15,828,565)

      Operating lease liabilities

(488,542)

(552,367)

      Taxes payable

(56,558)

13,098

      Accrued expenses and other liabilities

102,174

(429,988)

Net cash used in operating activities

(41,012)

(9,918,157)

Cash flows from investing activities:

      Due from affiliate

(3,177,354)

      Purchase of intangible assets

(2,276)

(4,950)

      Disposal of equipment

81,469

      Purchase of equipment

(9,190)

(12,260)

Net cash provided by (used in) investing activities

(11,466)

(3,113,095)

Cash flows from financing activities:

      Proceeds from short-term loans

649,913

      Repayment of short-term loans

(211,116)

(2,455,228)

      Proceeds from related party loans

(113,020)

205,846

Net cash used in financing activities

(324,136)

(1,599,469)

Effect of exchange rate changes on cash

(68,323)

(103,551)

Net decrease in cash

(444,937)

(14,734,272)

Cash, beginning of period

1,250,281

16,718,102

Cash, end of period

$

805,344

$

1,983,830

Supplemental disclosure information:

      Cash paid for income tax

$

51

$

2,761

      Cash paid for interest

$

23,997

$

39,388

Supplemental non-cash activities:

      Cash paid in prior year for purchase of intangible assets

$

(640,674)

$

      Right of use assets obtained in exchange for operating lease obligations

$

$

(98,320)

 

 

View original content:https://www.prnewswire.com/news-releases/jowell-global-ltd-announces-first-half-2024-unaudited-financial-results-302336322.html

SOURCE Jowell Global Ltd.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Yiren Digital Accelerates Operating Efficiency Through AI Agent Deployment

Published

on

By

Broader AI adoption improves productivity across asset recovery and enterprise operations

BEIJING, July 23, 2026 /PRNewswire/ — Yiren Digital Ltd. (NYSE: YRD) (“Yiren Digital” or the “Company”), a leading company specializing in financial technology and artificial intelligence innovation across multiple industries in China and global markets, today announced measurable operating efficiency improvements as it continues to deploy AI agents across core enterprise workflows. Broader AI adoption is reducing manual intervention, increasing workforce productivity and creating greater operating leverage by automating high-volume processes across multiple business functions.

These deployments are a key component of Yiren Digital’s “All-in-AI” strategy and its broader transition from AI-assisted productivity toward agent-driven execution. By embedding AI agents into core workflows, the Company is creating reusable operating capabilities that can be deployed across its businesses, supporting greater efficiency and reducing the cost of extending automation into new functions.

“Our objective is not simply to automate individual tasks, but to fundamentally improve how work is performed across the enterprise,” said Mr. Ning Tang, Chairman and Chief Executive Officer of Yiren Digital. “As AI agents take on more of our high-volume, demanding workflows, the productivity gains are becoming a structural part of how we run the business, not a one-time efficiency project. We will continue to deepen AI integration across our existing businesses while extending reusable capabilities into additional verticals.”

The AI deployments are supported by the Company’s proprietary enterprise AI architecture, including MagiCube 2.0, its upgraded multi-agent platform. The platform provides common infrastructure for agents deployed across marketing, customer service, capital operations, risk management, compliance and research and development, with more than 10 reusable foundational capabilities, supporting enterprise-wide execution.

Measurable Operating Impact

Lower manual intervention: The human handling rate in asset-recovery operations decreased from 45.0% to 24.9%, representing a 20.1-percentage-point decline, an approximately 44.6% relative reduction in manual intervention.

Higher staff productivity: The number of service tickets handled per asset-recovery staff member within the applicable Month 1 workflow increased from 358 to 525, an improvement of approximately 47%.

Expanded agent adoption: AI agents accounted for 81% of service tickets within eligible Day 1 asset-recovery workflows in 2025, up from 50% in 2024. The Company also deployed AI agents selectively in later-stage workflows, accounting for 20% of eligible service tickets at Day 4, 14% at Day 16 and 20% at Month 2. Each percentage is calculated separately for the relevant stage and should not be interpreted as a sequential adoption trend.

Enterprise-wide reuse: MagiCube 2.0 supports agent deployment across six enterprise functions, allowing the Company to apply common AI capabilities to a broader range of regulated and high-volume workflows.

Enterprise-scale AI execution: The Fengchao AI voice agent processes approximately 1,500 hours of real-time speech-to-text activity each day. The LingShu intelligent marketing platform executes more than 1,700 tasks daily and generates individualized communication content in an average of 0.6 seconds.

Building Enterprise Operating Leverage Through AI

As AI deployment expands across the enterprise, Yiren Digital is increasingly shifting repetitive, high-volume tasks from human-assisted processes toward agent-driven execution. By combining AI agents with centralized orchestration and governance, the Company is improving operating consistency, strengthening workforce productivity and creating reusable capabilities that increase operating leverage as AI is deployed across additional business functions.

Yiren Digital plans to continue expanding agent-driven workflows across its credit and insurance operations, as part of its ongoing All-in-AI strategy, while strengthening the shared architecture and governance that support enterprise-wide AI deployment. These capabilities are designed to scale across multiple use cases and provide a foundation for the Company’s broader expansion into AI application-layer opportunities, including AI entertainment and AI-assisted language learning.

About Yiren Digital

Yiren Digital Ltd. is a leading company specializing in financial technology and artificial intelligence innovation across multiple industries in China and global markets. The Company leverages advanced artificial intelligence and emerging technologies to enhance customer experience, optimize capital efficiency, and expand financial inclusion. Following the regulatory filing of its in-house developed Large Language Model Zhiyu, and the significant enhancement of its MagiCube Agent platform, Yiren Digital is establishing a new growth engine to accelerate its evolution into an AI-native, multi-industry operating platform extending beyond traditional financial services. For more information, please visit https://ir.yiren.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “estimate,” “expect,” “hope,” “going forward,” “intend,” “ought to,” “plan,” “project,” “potential,” “seek,” “may,” “might,” “can,” “could,” “will,” “would,” “shall,” “should,” “is likely to” and the negative form of these words and other similar expressions. This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident,” and similar expressions. Forward-looking statements are based on management’s current expectations, assumptions, and assessments of current market and operating conditions. These statements involve inherent risks, uncertainties, and other factors, many of which are outside the control of the Company, and which could cause actual results to differ materially from those expressed or implied in such statements. Actual results may differ materially from those expressed or implied in forward-looking statements due to a variety of factors and other risks described in the Company’s filings with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release. The Company undertakes no, and expressly disclaims any, obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required under applicable law.

View original content:https://www.prnewswire.com/news-releases/yiren-digital-accelerates-operating-efficiency-through-ai-agent-deployment-302833201.html

SOURCE Yiren Digital Ltd.

Continue Reading

Technology

Infinium Edge Launches EdgeSites™, a New Infrastructure Model for Deploying AI Compute at Existing Commercial and Industrial Facilities

Published

on

By

EdgeSites delivers operational AI infrastructure in existing powered buildings — factory-built data center modules, waterless cooling, and ready in months without new construction or grid interconnection required.

SACRAMENTO, Calif., July 23, 2026 /PRNewswire/ — Infinium Edge™ today announced Infinium EdgeSites™, a development program that utilizes existing commercial and industrial facilities to deploy operational AI compute infrastructure. Built around Infinium Edge’s proprietary Edge Thermal Vectoring™ immersion cooling platform, EdgeSites enables high-density GPU deployments in existing buildings that were never designed as data centers — without new construction, without cooling water infrastructure, and without the multi-year grid interconnection timelines that constrain conventional large-scale data center development.

More than 20 million commercial and industrial electricity customers in the US are served by electrical infrastructure sized to peak demand – which industry research shows are utilized at only 40-60% on average. That unused headroom, capacity already contracted, energized, and sitting behind the meter, can support high-density AI compute without adding new load to the grid or waiting on a new interconnection.

At the center of the program is the Vector ONE™ — Edge’s factory-built, self-contained immersion cooling system designed to house 1 MW of AI compute capacity. Vector ONE units are engineered for deployment in standard commercial and industrial buildings, either indoors or outdoors, arriving pre-integrated, fully commissioned and require no municipal water connection. Installations are modular and scalable: additional units can be commissioned as site power and demand allow, without rebuilding the underlying infrastructure and occupy up to 70% less floor space than air-cooled equivalents.

Built for the Shift to Inference

As inference moves to displace training as the dominant AI workload, the growth opportunity is shifting towards small, distributed data centers that can be deployed quickly and sited where demand originates. Conventional data center developments are under compounding pressure from long utility interconnection queues, sometimes lasting years, pressure around water use, and general community and regulatory opposition enacting restrictions. Community opposition and regulatory friction delayed or blocked an estimated $156 billion in planned U.S. data center capacity in 2025 alone.

EdgeSites is purpose-built for the structural shift to inference and addresses key issues stalling conventional data center developments today. Each Vector ONE unit delivers 1 MW of inference-ready capacity inside an existing building, in a market that already has established electrical infrastructure, in a timeline measured in months rather than years. Multiple units can be used in tandem to deploy up to 10 MW of capacity at a single site.  The program converts the distributed inventory of underutilized industrial or commercial electrical capacity in the United States into a nationally scaled inference network. Vector ONE’s dry-cooler loop consumes no municipal water, making EdgeSites viable in markets where evaporative cooling has been restricted or banned.

“The data center industry has been answering an infrastructure shortage with a construction playbook — build new facilities, secure new grid connections, wait years for capacity to come online,” said Robert Schuetzle, CEO of Infinium. “That model cannot keep pace with AI deployment timelines. Infinium EdgeSites operate around different premises: the power already exists, the buildings already exist, and the technology now exists to put them to work. We are making operational what the industry has been treating as stranded.”

Deploying EdgeSites

As demand for AI compute continues to outpace available infrastructure and focuses on distributed inference needs, Infinium Edge is expanding the EdgeSites network with qualified host locations and compute partners.

Commercial and industrial property owners of industrial sites, distribution centers, warehouses, or large commercial properties with available electrical capacity benefit from receiving lease income from infrastructure they already own or control. Infinium Edge manages all aspects of site development and operations for installing and deploying the Vector ONE system. No capital investment or operational responsibility is required from the host.

AI companies, enterprises, and compute operators requiring infrastructure on compressed deployment timelines can access high-density, edge-proximate GPU capacity through a straightforward capacity agreement, priced by the kilowatt-month, with backup power included in the capacity fee. There is no construction to manage, no permitting process to navigate, and no cooling infrastructure to operate or maintain.

Infinium Edge manages the full program from development and installation to operation and monitoring— simplifying development and data center management for AI companies and enterprises.

Reach out to learn more and partner in EdgeSites deployments.

Inquiries: www.infinium.ai/edgesites

About Infinium Edge™
Infinium Edge™ is the advanced AI data center infrastructure platform from Infinium, delivering high-density, sustainable compute through proprietary single-phase immersion cooling technology. Infinium Edge is the only North American producer of Fischer-Tropsch immersion fluids and offers a full-stack platform — including Edge Thermal Vectoring™ platform, Vector ONE™ modular AI Factory units, ETV100 immersion fluids, and integrated monitoring systems — engineered for the thermal and operational demands of AI and high-performance computing at scale. For more information, visit www.infinium.ai.

View original content to download multimedia:https://www.prnewswire.com/news-releases/infinium-edge-launches-edgesites-a-new-infrastructure-model-for-deploying-ai-compute-at-existing-commercial-and-industrial-facilities-302832792.html

SOURCE Infinium

Continue Reading

Technology

ChipMOS SCHEDULES SECOND QUARTER 2026 FINANCIAL RESULTS SEMIANNUAL CONFERENCE CALL

Published

on

By

HSINCHU, July 23, 2026 /PRNewswire-FirstCall/ — ChipMOS TECHNOLOGIES INC. (“ChipMOS” or the “Company”) (Taiwan Stock Exchange: 8150 and Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services (“OSAT”), today announced that it will report second quarter 2026 results and host a semiannual conference call after the close of trading on the Taiwan Stock Exchange on Tuesday, August 11, 2026.

Investors and analysts are encouraged to participate in the semiannual conference call using the dial-in phone number noted below. A webcast and replay will be available on the Company’s website.

Date: Tuesday, August 11, 2026
Time: 3:00PM Taiwan (3:00AM New York)
Dial-In: +886-2-3396 1191
Password: 1637011 #

Semiannual Conference Call Webcast and Replay: https://www.chipmos.com/chinese/ir/info2.aspx
Replay: Starts Approximately 2 hours after the live call ends

Language: Mandarin

Note: A transcript will be provided on the Company’s website in English following the semiannual conference call to help ensure transparency, and to facilitate a better understanding of the Company’s financial results and operating environment.

About ChipMOS TECHNOLOGIES INC.:
ChipMOS TECHNOLOGIES INC. (“ChipMOS” or the “Company”) (Taiwan Stock Exchange: 8150 and Nasdaq: IMOS) (www.chipmos.com) is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park in Taiwan, ChipMOS is known for its track record of excellence and history of innovation. The Company provides end-to-end assembly and test services to leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries serving virtually all end markets worldwide.

Forward-Looking Statements:
This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes,’ ‘expects,’ ‘anticipates,’ ‘projects,’ ‘intends,’ ‘should,’ ‘seeks,’ ‘estimates,’ ‘future’ or similar expressions or by discussion of, among other things, strategies, goals, plans or intentions. These statements may include financial projections and estimates and their underlying assumptions, statements regarding current macroeconomic conditions, including the impacts of high inflation, foreign exchange rates and risk of recession, on demand for our products, consumer confidence and financial markets generally; changes in trade regulations, policies, and agreements and the imposition of tariffs that affect our products or operations, including potential new tariffs that may be imposed and our ability to mitigate with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, based on a number of important factors and risks, which are more specifically identified in the Company’s most recent U.S. Securities and Exchange Commission (the “SEC”) filings. Further information regarding these risks, uncertainties and other factors are included in the Company’s most recent Annual Report on Form 20-F filed with the SEC and in its other filings with the SEC.

Contacts:

In Taiwan

Jesse Huang

ChipMOS TECHNOLOGIES INC.

+886-6-5052388 ext. 7715

IR@chipmos.com

In the U.S.

David Pasquale

Global IR Partners

+1-914-337-8801

dpasquale@globalirpartners.com

 

View original content:https://www.prnewswire.com/news-releases/chipmos-schedules-second-quarter-2026-financial-results-semiannual-conference-call-302831885.html

SOURCE ChipMOS TECHNOLOGIES INC.

Continue Reading

Trending