Connect with us

Technology

Lichen China Limited Announces $3.1 Million Registered Direct Offering

Published

on

XIAMEN, China, Dec. 30, 2024 /PRNewswire/ — Lichen China Limited (Nasdaq: LICN) (“Lichen China” or the “Company”), a dedicated financial and taxation service provider in China today announced that it has entered into a definitive agreement with several investors for the purchase and sale of an aggregate of 25,000,000 of the Company’s Class A ordinary share, par value $0.00004 per share (the “Shares”) (or pre-funded warrants in lieu thereof) at a purchase price of $0.125 per share in a registered direct offering. The purchase price for the pre-funded warrants is identical to the purchase price for Shares, less the exercise price of $0.001 per share.

The aggregate gross proceeds to the Company of this offering are expected to be approximately $3.1 million. The transaction is expected to close on or about December 31, 2024, subject to the satisfaction of customary closing conditions.

Univest Securities, LLC is acting as the sole placement agent.

The registered direct offering is being made pursuant to a shelf registration statement on Form F-3 (File No. 333-277230) previously filed by the Company and declared effective by the U.S. Securities and Exchange Commission (“SEC”) on March 1, 2024. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Univest Securities, LLC at info@univest.us, or by calling +1 (212) 343-8888.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Copies of the prospectus supplement relating to the registered direct offering, together with the accompanying base prospectus will be filed by the Company and, upon filing, can be obtained at the SEC’s website at www.sec.gov.

About Lichen China Limited

Lichen China Limited focuses on providing financial and taxation solution services, education support services, and software and maintenance services under its “Lichen” brand. In recognition of the Company’s expertise and experience in the financial and taxation solution services industry for over 18 years, the Company has built up its reputation as a dedicated financial and taxation solution services provider of professional and high-quality services in China. For more information, please visit the Company’s website: https://ir.lichenzx.com/

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the U.S. Securities and Exchange Commission.

For more information, please contact:

Tian Sun
Phone: +86-0592-5586999
Email: ir@lichenzx.com

View original content:https://www.prnewswire.com/news-releases/lichen-china-limited-announces-3-1-million-registered-direct-offering-302340023.html

SOURCE Lichen China Limited

Continue Reading
Click to comment

Leave a Reply

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

Technology

Samsung Selects Chandigarh University Student as ‘Punjab AI State Topper’

Published

on

By

CU Student Devesh Panwar Wins Rs 1 Lakh Award for Developing AI-Based Document Search System

CHANDIGARH, India, July 18, 2026 /PRNewswire/ — A Bachelor of Computer Applications (BCA) student of Chandigarh University, Devesh Panwar, has been named the “Punjab State Topper” in the Artificial Intelligence (AI) under the Samsung Innovation Campus (SIC) AI Program organised by Samsung in collaboration with Telecom Sector Skill Council (TSSC) and training partner Focal Skill Development (Focalyt) to equip Indian youth with industry-relevant in-demand skills in AI, loT, Big Data, and Coding & Programming, preparing them for future careers.

A final-year student of Bachelor of Computer Applications (BCA) at University Institute of Computing (UIC) of Chandigarh University, Devesh Panwar also won a cash award of Rs 1 lakh along with a laptop, and exclusive Samsung rewards for achieving this remarkable milestone under the Samsung Innovation Campus AI Program.

 “Being named ‘AI State Topper’ was a moment of profound pride and validation for me. Hard work, intense technical training and a passion for AI culminated in the immense honor of the Punjab State Topper title. Besides getting access to state-of-the-art tools to fuel my future research and development endeavor, I gained world-class knowledge during the Samsung Innovation Campus (SIC) AI Program. It helped me in gaining hands-on experience and applied AI to solve real-world challenges, especially in aeronautical and technical domains,”

During Samsung Innovation Campus (SIC) AI Program, Devesh and his team worked on innovative AI capstone project which was presented before the jury panel as part of the final assessment.

“Our team developed the advanced AI-powered system AI Research Agent, a Retrieval-Augmented Generation (RAG) platform designed for intelligent querying of private document collections. Organizations, researchers, legal professionals, and HR teams often work with large collections of documents. Traditional search methods rely heavily on keyword matching and require significant manual effort to locate relevant information. The project was developed to address the limitations of traditional document search systems, which often struggle with contextual understanding, retrieval accuracy, learning adaptability, and response speed,” said Devesh.

 “The developed system demonstrated significant improvements over traditional document retrieval approaches with faster response generation with integration of modern AI techniques, full-stack development, database systems, and intelligent automation into a single practical solution.  By combining modern RAG architecture with innovative retrieval and reasoning mechanisms, this system provides a fast, intelligent, and user-friendly solution for knowledge discovery and resume evaluation. This project not only enhanced our technical expertise in Artificial Intelligence and Full-Stack Development but also strengthened our problem-solving, teamwork, and professional communication skills. It stands as a significant achievement of our Samsung Innovation Campus 2025 journey and reflects our commitment to building impactful AI solutions for real-world challenges,” he added.

Congratulating Devesh Panwar for being named “Punjab State Topper” AI under the Samsung Innovation Campus Samsung Innovation Program, Deepinder Singh Sandhu, Senior Managing Director, Chandigarh University, said, “Devesh’s achievement reflects Chandigarh University’s focus on experiential learning and industry-academia collaboration.  Through the Samsung Innovation Campus AI Program, CU students gain practical exposure to AI and building solutions for real-world challenges. This accomplishment reflects not only Devesh’s commitment to excellence but also the growing culture of innovation and industry-oriented learning at Chandigarh University,”.

“Since its inception, Chandigarh University has set benchmarks for world-class education with its dynamic hands-on experiential learning model, industry-aligned programs, dynamic fraternity, state-of-the-art infrastructure facilities and impeccable placements. Samsung Innovation Program is also part of our initiatives to develop a future-ready talent pool equipped with advanced capabilities in AI, loT, Big Data, and Coding and Programming. By bridging the gap between theoretical learning and real-world application, this collaboration helps in providing CU’s computer science and computing students exposure to cutting-edge and emerging technologies.  CU’s this partnership with Samsung is focused on building future-ready talent equipped with industry-relevant skills in AI and emerging technologies,” Sandhu said.

He said Chandigarh University’s Institute of Computing (UIC) prepares students for a successful career in computing, to create and disseminate computing knowledge and technology. “Chandigarh University carries a vision of crafting next-gen IT professionals who can take up industry challenges effectively and our Institute of Computing (UIC) prepares students for a successful career in computing, to create and disseminate computing knowledge and technology.  UIC’s hands-on approach paves the way for a smooth transition to the workforce after graduation. Our students are equipped with the best knowledge, skills and passion to succeed in any number of computing careers.   CU’s Institute of Computing renders cutting-edge education ranging from the expertise in traditional software development -to- modern computing technologies. Fully-equipped industry-sponsored labs, industry-aligned curriculum, and accreditations and validations by top companies such as Intel, Microsoft, Google Android, Red Hat etc. give our students an exclusive edge over others,” the Chandigarh University CMD said.

Sandhu said the latest edition of QS World University Rankings has yet again reaffirmed Chandigarh University global standing as a top educational institution. “Continuing its remarkable rise among the world’s leading higher education institutions, Chandigarh University (CU) has made impressive strides in the latest edition of prestigious QS World University Rankings 2027 by securing an overall world rank of 526, an increase of 49 ranks as compared to 575th rank in QS’ 2026 Rankings. This is for the fifth consecutive year that Chandigarh University’s global rankings have witnessed an impressive surge with CU’s world rank going up by an impressive 274 ranks — from the 800th rank in 2023 to 526th in 2027’s Rankings,”.

“As per the latest QS World University Rankings, with All India Rank of 13 among all universities in the country as compared to 16th rank in 2026’s rankings, Chandigarh University now ranks among the top 1% of universities in India and the top 2% of universities in the World, underscoring its growing reputation as a leading institution of higher learning, both in India and globally,” he added.

About Chandigarh University

Chandigarh University is a NAAC A+ Grade University and QS World Ranked University. This autonomous educational institution is approved by UGC and is located near Chandigarh in the state of Punjab. It is the youngest university in India and the only private university in Punjab to be honoured with A+ Grade by NAAC (National Assessment and Accreditation Council). CU offers more than 109 UG and PG programs in the field of engineering, management, pharmacy, law, architecture, journalism, animation, hotel management, commerce, and others. It has been awarded as The University with Best Placements by WCRC.

Website address: https://www.cuchd.in/

Photo: https://mmx.prnewswire.com/media/MS1885145/PRESS-PIC-001-SAMSUNG-CU-STUDENT.jpg?id=OA2769782&token=eyJhbGciOiJkaXIiLCJlbmMiOiJBMjU2R0NNIn0..tz96RqadDKMvzkEj.hSUhhTBdc9ZsrJjdBxEgY3wlJi0695tAGCi_yhGtBbdiThMARSwsYuRxoaEaAC1HccJGtnxglefy4fXZDdGfD-4OdjVgfOBZDHtwSaDWfS9i0sxsJ9uscOPXaiNP1iwN6to.iJaPyZAn7rk4NN9I54uvhg

 

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/samsung-selects-chandigarh-university-student-as-punjab-ai-state-topper-302828991.html

Continue Reading

Technology

Samsung Selects Chandigarh University Student as ‘Punjab AI State Topper’

Published

on

By

CU Student Devesh Panwar Wins Rs 1 Lakh Award for Developing AI-Based Document Search System

CHANDIGARH, India, July 18, 2026 /PRNewswire/ — A Bachelor of Computer Applications (BCA) student of Chandigarh University, Devesh Panwar, has been named the “Punjab State Topper” in the Artificial Intelligence (AI) under the Samsung Innovation Campus (SIC) AI Program organised by Samsung in collaboration with Telecom Sector Skill Council (TSSC) and training partner Focal Skill Development (Focalyt) to equip Indian youth with industry-relevant in-demand skills in AI, loT, Big Data, and Coding & Programming, preparing them for future careers.

A final-year student of Bachelor of Computer Applications (BCA) at University Institute of Computing (UIC) of Chandigarh University, Devesh Panwar also won a cash award of Rs 1 lakh along with a laptop, and exclusive Samsung rewards for achieving this remarkable milestone under the Samsung Innovation Campus AI Program.

 “Being named ‘AI State Topper’ was a moment of profound pride and validation for me. Hard work, intense technical training and a passion for AI culminated in the immense honor of the Punjab State Topper title. Besides getting access to state-of-the-art tools to fuel my future research and development endeavor, I gained world-class knowledge during the Samsung Innovation Campus (SIC) AI Program. It helped me in gaining hands-on experience and applied AI to solve real-world challenges, especially in aeronautical and technical domains,”

During Samsung Innovation Campus (SIC) AI Program, Devesh and his team worked on innovative AI capstone project which was presented before the jury panel as part of the final assessment.

“Our team developed the advanced AI-powered system AI Research Agent, a Retrieval-Augmented Generation (RAG) platform designed for intelligent querying of private document collections. Organizations, researchers, legal professionals, and HR teams often work with large collections of documents. Traditional search methods rely heavily on keyword matching and require significant manual effort to locate relevant information. The project was developed to address the limitations of traditional document search systems, which often struggle with contextual understanding, retrieval accuracy, learning adaptability, and response speed,” said Devesh.

 “The developed system demonstrated significant improvements over traditional document retrieval approaches with faster response generation with integration of modern AI techniques, full-stack development, database systems, and intelligent automation into a single practical solution.  By combining modern RAG architecture with innovative retrieval and reasoning mechanisms, this system provides a fast, intelligent, and user-friendly solution for knowledge discovery and resume evaluation. This project not only enhanced our technical expertise in Artificial Intelligence and Full-Stack Development but also strengthened our problem-solving, teamwork, and professional communication skills. It stands as a significant achievement of our Samsung Innovation Campus 2025 journey and reflects our commitment to building impactful AI solutions for real-world challenges,” he added.

Congratulating Devesh Panwar for being named “Punjab State Topper” AI under the Samsung Innovation Campus Samsung Innovation Program, Deepinder Singh Sandhu, Senior Managing Director, Chandigarh University, said, “Devesh’s achievement reflects Chandigarh University’s focus on experiential learning and industry-academia collaboration.  Through the Samsung Innovation Campus AI Program, CU students gain practical exposure to AI and building solutions for real-world challenges. This accomplishment reflects not only Devesh’s commitment to excellence but also the growing culture of innovation and industry-oriented learning at Chandigarh University,”.

“Since its inception, Chandigarh University has set benchmarks for world-class education with its dynamic hands-on experiential learning model, industry-aligned programs, dynamic fraternity, state-of-the-art infrastructure facilities and impeccable placements. Samsung Innovation Program is also part of our initiatives to develop a future-ready talent pool equipped with advanced capabilities in AI, loT, Big Data, and Coding and Programming. By bridging the gap between theoretical learning and real-world application, this collaboration helps in providing CU’s computer science and computing students exposure to cutting-edge and emerging technologies.  CU’s this partnership with Samsung is focused on building future-ready talent equipped with industry-relevant skills in AI and emerging technologies,” Sandhu said.

He said Chandigarh University’s Institute of Computing (UIC) prepares students for a successful career in computing, to create and disseminate computing knowledge and technology. “Chandigarh University carries a vision of crafting next-gen IT professionals who can take up industry challenges effectively and our Institute of Computing (UIC) prepares students for a successful career in computing, to create and disseminate computing knowledge and technology.  UIC’s hands-on approach paves the way for a smooth transition to the workforce after graduation. Our students are equipped with the best knowledge, skills and passion to succeed in any number of computing careers.   CU’s Institute of Computing renders cutting-edge education ranging from the expertise in traditional software development -to- modern computing technologies. Fully-equipped industry-sponsored labs, industry-aligned curriculum, and accreditations and validations by top companies such as Intel, Microsoft, Google Android, Red Hat etc. give our students an exclusive edge over others,” the Chandigarh University CMD said.

Sandhu said the latest edition of QS World University Rankings has yet again reaffirmed Chandigarh University global standing as a top educational institution. “Continuing its remarkable rise among the world’s leading higher education institutions, Chandigarh University (CU) has made impressive strides in the latest edition of prestigious QS World University Rankings 2027 by securing an overall world rank of 526, an increase of 49 ranks as compared to 575th rank in QS’ 2026 Rankings. This is for the fifth consecutive year that Chandigarh University’s global rankings have witnessed an impressive surge with CU’s world rank going up by an impressive 274 ranks — from the 800th rank in 2023 to 526th in 2027’s Rankings,”.

“As per the latest QS World University Rankings, with All India Rank of 13 among all universities in the country as compared to 16th rank in 2026’s rankings, Chandigarh University now ranks among the top 1% of universities in India and the top 2% of universities in the World, underscoring its growing reputation as a leading institution of higher learning, both in India and globally,” he added.

About Chandigarh University

Chandigarh University is a NAAC A+ Grade University and QS World Ranked University. This autonomous educational institution is approved by UGC and is located near Chandigarh in the state of Punjab. It is the youngest university in India and the only private university in Punjab to be honoured with A+ Grade by NAAC (National Assessment and Accreditation Council). CU offers more than 109 UG and PG programs in the field of engineering, management, pharmacy, law, architecture, journalism, animation, hotel management, commerce, and others. It has been awarded as The University with Best Placements by WCRC.

Website address: https://www.cuchd.in/

Photo: https://mmx.prnewswire.com/media/MS1885145/PRESS-PIC-001-SAMSUNG-CU-STUDENT.jpg?id=OA2769782&token=eyJhbGciOiJkaXIiLCJlbmMiOiJBMjU2R0NNIn0..tz96RqadDKMvzkEj.hSUhhTBdc9ZsrJjdBxEgY3wlJi0695tAGCi_yhGtBbdiThMARSwsYuRxoaEaAC1HccJGtnxglefy4fXZDdGfD-4OdjVgfOBZDHtwSaDWfS9i0sxsJ9uscOPXaiNP1iwN6to.iJaPyZAn7rk4NN9I54uvhg

 

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/samsung-selects-chandigarh-university-student-as-punjab-ai-state-topper-302828991.html

Continue Reading

Technology

Black Lake Technologies Shortlisted as SAIL Award TOP30 Finalist and Selected as Global Industrial AI Flagship Case, Showcasing Latest Industrial Agent at WAIC 2026

Published

on

By

SHANGHAI, July 18, 2026 /PRNewswire/ — The 2026 World Artificial Intelligence Conference (WAIC) opened in Shanghai on July 17. Shanghai Blacklake Technologies Co., Ltd. (“Black Lake”), an industrial AI company, is showcasing a portfolio of industrial AI agents at the conference. The company has also been named to the Top 30 shortlist for the 2026 WAIC Super AI Leader (SAIL) Award and selected as a Trusted Partner under the Global Call for Trusted Partners for Industrial AI in the Global South.

The accreditations highlight Black Lake’s latest progress in bringing AI into critical manufacturing decision-making workflows and deploying industrial AI capabilities on the shop floor around the world.

This year’s conference attracted over 1,100 exhibiting companies and showcased more than 3,000 exhibits, setting a new record for exhibition scale. The conference delivered a clear signal: as artificial intelligence becomes a common priority across global industries, attention is moving beyond model capabilities toward practical applications in real-world operating environments.

Manufacturing provides a particularly demanding test for this transition. Factory operations are governed by multiple constraints, including process specifications, equipment capabilities, material availability, production capacity, delivery schedules and quality requirements. Therefore, AI has to do so much more than simply comprehend information input. It must make reliable judgments within clearly defined business rules and operational constraints.

Black Lake has focused on industrial digitalization and industrial AI for years, developing and deploying AI applications in a range of factory environments.

At WAIC 2026, the company is presenting industrial AI agents covering order splitting and process planning, quotation and pricing, procurement, production scheduling, quality inspection, and order tracking. These applications are designed to move AI beyond an auxiliary role and into critical manufacturing decision-making workflows.

Traditional industrial software is primarily responsible for data recording, digital workflows, and worker coordination. However, critical decisions such as how to split an order, determine pricing, schedule production, and assess quality risks still depend heavily on the experience of engineers and frontline workers.

Industrial AI agents are intended to convert fragmented industrial knowledge and production experience into decision-making capabilities that can be invoked, reused and continuously refined by software systems.

Order decomposition and process planning are representative examples. After receiving an engineering drawing, a factory typically relies on experienced engineers to identify components, materials and dimensions, define the required manufacturing processes and technical specifications, and establish a basis for subsequent quotation and quality inspection.

The process is highly dependent on individual expertise and represents one of the first critical decision points after an order is received.

Black Lake Technologies’ CAD-to-Process Agent can understand product drawings and, taking into account the factory’s equipment capabilities, process requirements, and production practices, rapidly generate process steps along with the corresponding technical requirements. Drawing analysis that once took hours can now be completed in approximately one minute, achieving an accuracy rate of over 95% in real deployment and providing engineers with stable, efficient decision support. Currently, the industrial agents developed by the company cover core processes including design, scheduling, production, and quality inspection, and have entered the stage of large-scale deployment.

Founded in 2016, Black Lake serves nearly 40,000 factories worldwide. Its customers span more than 30 industries, including food and beverage, automotive components and equipment manufacturing.

By working across factory order management, production and fulfillment workflows, Black Lake has accumulated the technical capabilities and industry knowledge required to support decision-making in complex industrial environments.

In April 2026, Black Lake completed a Series D funding round of nearly RMB 1 billion. The company said the proceeds would primarily be used to accelerate the deployment of its industrial AI products and support its international expansion.

AI-related products are becoming a new source of growth for the company. In a recent interview, Black Lake founder and CEO Zhou Yuxiang said that the company had recorded significant growth in AI-related revenue since the beginning of 2026. He also said that manufacturing customers were taking less time to make purchasing decisions for industrial AI agents.

Zhou expects AI adoption among Chinese factories to increase substantially over the next three to four years.

Unlike consumer-facing AI, which is primarily associated with content generation and personal productivity, industrial AI agents can directly affect production costs, capacity utilization, delivery performance, and product quality. Their commercial value therefore depends largely on whether they can perform specific tasks reliably in complex production environments.

During WAIC 2026, Black Lake was named to the Top 30 shortlist for the 2026 Super AI Leader (SAIL) Award. The SAIL Award is one of WAIC’s major awards and recognizes achievements in technological breakthroughs, application innovation, and industrial value.

Black Lake was also selected as a Trusted Partner under UNIDO’s Global Call for Trusted Partners for Industrial AI in the Global South.

The Global Call was launched under the guidance of the United Nations Industrial Development Organization (UNIDO), in partnership with the Shanghai Artificial Intelligence Research Institute, and in connection with the work of UNIDO AIM Global and its Shanghai-based Centre of Excellence.

The initiative aims to build a curated pool of leading partners to co-develop scalable industrial AI solutions and public goods for the Global South.

For Black Lake, the two accreditations underscore the growing importance of reliability, explainability, and scalability in the evaluation of industrial AI, in addition to the capabilities of AI models.

Global expansion will be a major priority in the company’s next phase of development. Black Lake is currently focusing on Southeast Asia, Latin America and Eastern Europe, adapting its industrial AI agents to the industrial structures, production processes and management requirements of different markets.

Although manufacturing operations vary across countries and regions, manufacturers share similar concerns about efficiency, quality, delivery reliability and production flexibility.

Black Lake is transforming industrial AI capabilities that have been validated in complex factory environments into configurable and deployable products. Through these products, the company aims to work with manufacturers worldwide to explore more efficient, flexible and intelligent approaches to production.

View original content:https://www.prnewswire.com/apac/news-releases/black-lake-technologies-shortlisted-as-sail-award-top30-finalist-and-selected-as-global-industrial-ai-flagship-case-showcasing-latest-industrial-agent-at-waic-2026-302828984.html

SOURCE Black Lake

Continue Reading

Trending