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ASE Technology Holding Co., Ltd. Reports Its Unaudited Consolidated Financial Results for the Fourth Quarter and the Full Year of 2024

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TAIPEI, Feb. 13, 2025 /PRNewswire/ — ASE Technology Holding Co., Ltd. (TWSE: 3711, NYSE: ASX) (“We”, “ASEH”, or the “Company”), the leading provider of semiconductor assembly and testing services (“ATM”) and the provider of electronic manufacturing services (“EMS”), today reported its unaudited net revenues[1] of NT$162,264 million for 4Q24, up by 1.0% year-over-year and up by 1.3% sequentially. Net income attributable to shareholders of the parent for the quarter totaled NT9,312 million, down from NT$9,392 million in 4Q23 and down from NT$9,733 million in 3Q24.  Basic earnings per share for the quarter were NT$2.15 (or US$0.134 per ADS), compared to NT$2.18 for 4Q23 and NT$2.25 for 3Q24.  Diluted earnings per share for the quarter were NT$2.07 (or US$0.129 per ADS), compared to NT$2.13 for 4Q23 and NT$2.18 for 3Q24.

For the full year of 2024, the Company reported unaudited net revenues of NT$595,410 million and net income attributable to shareholders of the parent of NT$32,483 million.  Basic earnings per share for the full year of 2024 were NT$7.52 (or US$0.470 per ADS).  Diluted earnings per share for the full year of 2024 were NT$7.23 (or US$0.452 per ADS).

As of December 31, 2024, we have completed the purchase price allocation of business combination, and have retrospectively adjusted the consolidated financial results for the prior period.

RESULTS OF OPERATIONS

4Q24 Results Highlights – Consolidated

Net revenues from packaging operations, testing operations, EMS operations, and others represented approximately 43%, 10%, 46%, and 1% of the total net revenues for the quarter, respectively.

Cost of revenues was NT$135,633 million for the quarter, up from NT$133,679 million in 3Q24.Raw material cost totaled NT$84,434 million for the quarter, representing 52% of the total net revenues.Labor cost totaled NT$16,749 million for the quarter, representing 10% of the total net revenues.Depreciation, amortization and rental expenses totaled NT$13,961 million for the quarter.

Gross margin decreased by 0.1 percentage points to 16.4% in 4Q24 from 16.5% in 3Q24.

Operating margin was 6.9% in 4Q24, compared to 7.2% in 3Q24.

In terms of non-operating items:Net interest expense was NT$1,308 million.Net foreign exchange loss was NT$2,787 million, primarily attributable to the appreciation of the U.S. dollar against the New Taiwan dollar.Net gain on valuation of financial assets and liabilities was NT$4,017 million.Net loss on equity-method investments was NT$133 million.Other net non-operating income was NT$441 million, primarily attributable to miscellaneous income.
Total non-operating income and expenses for the quarter was NT$230 million.

Income before tax was NT$11,441 million in 4Q24, compared to NT$12,325 million in 3Q24. We recorded income tax expenses of NT$1,862 million for the quarter, compared to NT$2,052 million in 3Q24.

Net income attributable to shareholders of the parent was NT$9,312 million in 4Q24, compared to NT$9,392 million in 4Q23 and NT$9,733 million in 3Q24.

Our total number of shares outstanding at the end of the quarter was 4,414,930,537, including treasury stock owned by our subsidiaries in 4Q24. Our 4Q24 basic earnings per share of NT$2.15 (or US$0.134 per ADS) were based on 4,324,469,567 weighted average numbers of shares outstanding in 4Q24. Our 4Q24 diluted earnings per share of NT$2.07 (or US$0.129 per ADS) were based on 4,399,408,735 weighted average number of shares outstanding in 4Q24.

4Q24 Results Highlights – ATM

Net revenues were NT$88,363 million for the quarter, up by 7.8% year-over-year and up by 3.0% sequentially.

Cost of revenues was NT$67,754 million for the quarter, up by 7.9% year-over-year and up by 2.7% sequentially.Raw material cost totaled NT$24,774 million for the quarter, representing 28% of the total net revenues.Labor cost totaled NT$13,661 million for the quarter, representing 15% of the total net revenues.Depreciation, amortization and rental expenses totaled NT$12,508 million for the quarter.

Gross margin increased by 0.2 percentage points to 23.3% in 4Q24 from 23.1% in 3Q24.

Operating margin was 10.7% in both 4Q24 and 3Q24.

4Q24 Results Highlights – EMS

Net revenues were NT$74,895 million, down by 5.4% year-over-year and down by 0.6% sequentially.

Cost of revenues for the quarter was NT$68,713 million, down by 5.2% year-over-year and up by 0.1% sequentially.Raw material cost totaled NT$60,178 million for the quarter, representing 80% of the total net revenues.Labor cost totaled NT$2,980 million for the quarter, representing 4% of the total net revenues.Depreciation, amortization and rental expenses totaled NT$1,191 million for the quarter.

Gross margin decreased by 0.7 percentage points to 8.3% in 4Q24 from 9.0% in 3Q24.

Operating margin was 2.7% in 4Q24, compared to 3.3% in 3Q24.

2024 Full-Year Results Highlights – Consolidated

Net revenues for the full year of 2024 amounted to NT$595,410 million, up by 2.3% from the full year of 2023. Net revenues from packaging operations, testing operations, EMS operations and others represented approximately 44%, 9%, 46% and 1% of total net revenues for the year, respectively.

Cost of revenue for the year of 2024 was NT$498,478 million, compared to NT$490,157 million in 2023.Raw material cost totaled NT$306,359 million for the year, representing 51% of total net revenues.Labor cost totaled NT$64,268 million for the year, representing 11% of total net revenues.Depreciation, amortization and rental expenses totaled NT$54,254 million for the year.

Gross margin increased by 0.5 percentage points to 16.3% in 2024 from 15.8% in 2023.

Operating margin decreased to 6.6% in 2024 from 6.9% in 2023.

Total non-operating income for the year was NT$2,517 million, compared to NT$2,272 million in 2023.

Income before tax was NT$41,684 million in 2024. We recognized an income tax expense of NT$7,758 million for the year.

Net income attributable to shareholders of the parent amounted to NT$32,483 million in 2024, compared to NT$31,725 million in 2023.

Our 2024 basic earnings per share of NT$7.52 (or US$0.470 per ADS) were based on 4,318,991,036 weighted average numbers of shares outstanding in 2024. Our 2024 diluted earnings per share of NT$7.23 (or US$0.452 per ADS) were based on 4,392,013,361 weighted average number of shares outstanding in 2024.

2024 Full-Year Results Highlights – ATM

Cost of revenues for the full year of 2024 was NT$252,712 million, compared to NT$246,397 million in 2023.Raw material cost totaled NT$90,307 million for the year, representing 28% of total net revenues.Labor cost totaled NT$51,652 million for the year, representing 16% of total net revenues.Depreciation, amortization and rental expenses totaled NT$48,392 million for the year.

Gross margin increased to 22.5% in 2024 from 21.8% in 2023.

Operating margin decreased to 9.8% in 2024 from 10.1% in 2023.

2024 Full-Year Results Highlights – EMS

Cost of revenues was NT$248,135 million in 2024, up by 1.3% from 2023.Raw material cost totaled NT$216,864 million for the year, representing 80% of total net revenues.Labor cost totaled NT$12,161 million for the year, representing 4% of total net revenues.Depreciation, amortization and rental expenses totaled NT$4,808 million for the year.

Gross margin increased to 9.0% in 2024 from 8.7% in 2023.

Operating margin decreased to 2.9% in 2024 from 3.3% in 2023.

LIQUIdiTY AND CAPITAL RESOURCES

Capital expenditures in 4Q24 totaled US$640 million, of which US$321 million was used in packaging operations, US$290 million in testing operations, US$24 million in EMS operations and US$5 million in interconnect materials operations and others.

Capital expenditures in 2024 totaled US$1,876 million, of which US$957 million was used in packaging operations, US$815 million in testing operations, US$89 million in EMS operations and US$15 million in interconnect materials operations and others.

Total unused credit lines amounted to NT$375,734 million as of December 31, 2024.

Current ratio was 1.19 and net debt to equity ratio was 0.37 as of December 31, 2024.

Total number of employees was 95,492 as of December 31, 2024, compared to 94,456 as of September 30, 2024.

Business Review

Customers[2]

ATM Basis

Our five largest customers together accounted for approximately 44% of our total net revenues in 4Q24, compared to 42% in 3Q24. Two customers each accounted for more than 10% of our total net revenues in 4Q24 individually.

Our top 10 customers contributed 60% of our total net revenues in 4Q24, compared to 58% in 3Q24.

Our customers that are integrated device manufacturers or IDMs accounted for 32% of our total net revenues in 4Q24, compared to 34% in 3Q24.

EMS Basis

Our five largest customers together accounted for approximately 72% of our total net revenues in 4Q24, compared to 71% in 3Q24. One customer accounted for more than 10% of our total net revenues in 4Q24.

Our top 10 customers contributed 78% of our total net revenues in 4Q24, compared to 77% in 3Q24.

About ASE Technology Holding Co., Ltd.
ASEH is the leading provider of semiconductor manufacturing services in assembly and test. The Company develops and offers complete turnkey solutions covering front-end engineering test, wafer probing and final test, as well as packaging, materials and electronic manufacturing services through USI with superior technologies, breakthrough innovations, and advanced development programs. With advanced technological capabilities and a global presence spanning Taiwan, China, South Korea, Japan, Singapore, Malaysia, Philippines, Vietnam, Mexico, and Tunisia as well as the United States and Europe, ASEH has established a reputation for reliable, high quality products and services.

For more information, please visit our website at https://www.aseglobal.com.

Safe Harbor Notice
This press release contains “forward-looking statements” within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Although these forward-looking statements, which may include statements regarding our future results of operations, financial condition or business prospects, are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan” and similar expressions, as they relate to us, are intended to identify these forward-looking statements in this press release. These forward-looking statements are necessarily estimates reflecting the best judgment of our senior management and our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied by the forward-looking statements for reasons including, among others, risks associated with cyclicality and market conditions in the semiconductor or electronic industry; changes in our regulatory environment, including our ability to comply with new or stricter environmental regulations and to resolve environmental liabilities; demand for the outsourced semiconductor packaging, testing and electronic manufacturing services we offer and for such outsourced services generally; the highly competitive semiconductor or manufacturing industry we are involved in; our ability to introduce new technologies in order to remain competitive; international business activities; our business strategy; our future expansion plans and capital expenditures; the strained relationship between the Republic of China and the People’s Republic of China; general economic and political conditions; the recent shift in United States trade policies; possible disruptions in commercial activities caused by natural or human-induced disasters; fluctuations in foreign currency exchange rates; and other factors. The announced results of the full year of 2024 are preliminary and subject to audit adjustments. For a discussion of these risks and other factors, please see the documents we file from time to time with the Securities and Exchange Commission, including the 2023 Annual Report on Form 20-F filed on April 3, 2024.

Supplemental Financial Information
(Unaudited)

Consolidated Operations

4Q24

3Q24

4Q23

EBITDA[3] (NT$ million)

28,797

28,692

28,606

ATM Operations

4Q24

3Q24

4Q23

Net Revenues (NT$ million)

88,363

85,790

82,004

Revenues by Application

Communication

53 %

50 %

53 %

Computing

17 %

18 %

17 %

Automotive, Consumer & Others

30 %

32 %

30 %

Revenues by Type

Bumping, Flip Chip, WLP & SiP

47 %

45 %

44 %

Wirebonding

27 %

29 %

30 %

Others

7 %

8 %

8 %

Testing

18 %

16 %

16 %

Material

1 %

2 %

2 %

Capacity & EBITDA

CapEx[4] (US$ million)

616

588

213

EBITDA[3] (NT$ million)

24,845

24,257

23,787

Number of Wirebonders

25,328

25,373

25,860

Number of Testers

6,300

5,966

5,556

EMS Operations

4Q24

3Q24

4Q23

Net Revenues (NT$ million)

74,895

75,384

79,182

Revenues by Application

Communication

37 %

34 %

40 %

Computing

9 %

9 %

11 %

Consumer

33 %

36 %

28 %

Industrial

11 %

11 %

11 %

Automotive

8 %

9 %

8 %

Others

2 %

1 %

2 %

Capacity 

CapEx[4] (US$ million)

24

14

21

 

ASE Technology Holding Co., Ltd.
Summary of Consolidated Statement of Income Data
(In NT$ million, except per share data)
(Unaudited)

For the three months ended

For the year ended

Dec. 31

2024

Sep. 30

2024
(Retrospectively Adjusted) 

Dec. 31

2023

Dec. 31

2024

Dec. 31

2023

Net revenues

Packaging

70,285

69,154

66,221

261,732

256,805

Testing

15,713

14,124

13,363

54,562

49,881

EMS

74,243

74,871

79,155

271,293

268,218

Others

2,023

1,956

1,842

7,823

7,010

Total net revenues

162,264

160,105

160,581

595,410

581,914

Cost of revenues

(135,633)

(133,679)

(134,820)

(498,478)

(490,157)

Gross profit

26,631

26,426

25,761

96,932

91,757

Operating expenses

Research and development

(7,676)

(7,439)

(6,950)

(28,830)

(25,499)

Selling, general and administrative

(7,744)

(7,517)

(6,996)

(28,935)

(25,930)

Total operating expenses

(15,420)

(14,956)

(13,946)

(57,765)

(51,429)

Operating income

11,211

11,470

11,815

39,167

40,328

Net non-operating income and expenses

Interest expense – net

(1,308)

(1,291)

(1,302)

(4,864)

(4,726)

Foreign exchange gain (loss) – net

(2,787)

1,887

3,731

(5,539)

998

Gain (Loss) on valuation of financial assets and liabilities – net

4,017

(946)

(2,977)

9,833

1,860

Gain (Loss) on equity-method investments – net

(133)

485

155

868

1,125

Others – net

441

720

945

2,219

3,015

Total non-operating income and expenses

230

855

552

2,517

2,272

Income before tax

11,441

12,325

12,367

41,684

42,600

Income tax expense

(1,862)

(2,052)

(2,461)

(7,758)

(9,043)

Income from operations and before non-controlling interests

9,579

10,273

9,906

33,926

33,557

Non-controlling interests

(267)

(540)

(514)

(1,443)

(1,832)

Net income attributable to shareholders of the parent

9,312

9,733

9,392

32,483

31,725

Per share data:

Earnings per share

– Basic

NT$2.15

NT$2.25

NT$2.18

NT$7.52

NT$7.39

– Diluted

NT$2.07

NT$2.18

NT$2.13

NT$7.23

NT$7.18

Earnings per equivalent ADS

– Basic

US$0.134

US$0.139

US$0.137

US$0.470

US$0.475

– Diluted

US$0.129

US$0.135

US$0.133

US$0.452

US$0.462

Number of weighted average shares used in diluted EPS calculation ( in thousand shares)

4,399,409

4,391,465

4,351,271

4,392,013

4,347,671

FX (NTD/USD)

32.16

32.31

31.92

32.00

31.09

 

ASE Technology Holding Co., Ltd.
Summary of ATM Statement of Income Data
(In NT$ million) 
(Unaudited)

For the three months ended

For the year ended

Dec. 31

2024

Sep. 30

2024
(Retrospectively Adjusted)

Dec. 31

2023

Dec. 31

2024

Dec. 31

2023

Net revenues:

Packaging

71,342

70,290

67,378

265,858

260,486

Testing

15,713

14,124

13,363

54,562

49,881

Direct Material

1,233

1,295

1,205

5,130

4,574

Others

75

81

58

325

174

Total net revenues

88,363

85,790

82,004

325,875

315,115

Cost of revenues

(67,754)

(65,995)

(62,786)

(252,712)

(246,397)

Gross profit

20,609

19,795

19,218

73,163

68,718

Operating expenses:

Research and development

(6,047)

(5,773)

(5,425)

(22,438)

(19,786)

Selling, general and administrative

(5,127)

(4,803)

(4,581)

(18,739)

(17,086)

Total operating expenses

(11,174)

(10,576)

(10,006)

(41,177)

(36,872)

Operating income

9,435

9,219

9,212

31,986

31,846

 

ASE Technology Holding Co., Ltd.
Summary of EMS Statement of Income Data
(In NT$ million) 
(Unaudited)

For the three months ended

For the year ended

Dec. 31

2024

Sep. 30

2024

Dec. 31

2023

Dec. 31

2024

Dec. 31

2023

Net revenues

Total net revenues

74,895

75,384

79,182

272,550

268,309

Cost of revenues

(68,713)

(68,627)

(72,496)

(248,135)

(244,947)

Gross profit

6,182

6,757

6,686

24,415

23,362

Operating expenses

Research and development

(1,673)

(1,668)

(1,567)

(6,542)

(5,871)

Selling, general and administrative

(2,523)

(2,636)

(2,320)

(9,883)

(8,511)

Total operating expenses

(4,196)

(4,304)

(3,887)

(16,425)

(14,382)

Operating income

1,986

2,453

2,799

7,990

8,980

 

ASE Technology Holding Co., Ltd.
Summary of Consolidated Balance Sheet Data
(In NT$ million)
(Unaudited)

As of Dec. 31, 2024

As of Sep. 30, 2024

(Retrospectively Adjusted)

Current assets

Cash and cash equivalents

76,493

71,711

Financial assets – current

9,376

6,643

Trade receivables

113,420

114,061

Inventories

61,181

68,991

Others

14,815

17,399

Total current assets

275,285

278,805

Financial assets – non-current & Investments – equity -method

41,810

42,300

Property, plant and equipment

312,531

283,886

Right-of-use assets

11,851

11,502

Intangible assets

67,562

67,639

Others

31,659

30,516

Total assets

740,698

714,648

Current liabilities

Short-term borrowings[5]

47,445

56,726

Current portion of bonds payable & Current portion of long-term borrowings

18,883

23,531

Trade payables

78,221

82,595

Others

86,391

72,698

Total current liabilities

230,940

235,550

Bonds payable

17,978

17,073

Long-term borrowings

121,750

108,003

Other liabilities

24,243

22,912

Total liabilities

394,911

383,538

Equity attributable to shareholders of the parent

323,523

309,456

Non-controlling interests

22,264

21,654

Total liabilities & shareholders’ equity

740,698

714,648

Current ratio

1.19

1.18

Net debt to equity ratio

0.37

0.41

 

ASE Technology Holding Co., Ltd.
Summary of Consolidated Statement of Cash Flow Data
(In NT$ million)
(Unaudited)

For the three months ended

For the year ended

Dec. 31

2024

Sep. 30

2024
(Retrospectively Adjusted)

Dec. 31

2023

Dec. 31

2024

Dec. 31

2023

Cash Flows from Operating Activities

Income before tax

11,441

12,325

12,367

41,684

42,600

Depreciation & amortization

15,360

15,043

14,607

59,815

58,102

Other operating activities items

8,444

(5,306)

19,854

(10,711)

13,720

Net cash generated from operating activities

35,245

22,062

46,828

90,788

114,422

Cash Flows from Investing Activities

Net payments for property, plant

and equipment

(31,546)

(19,769)

(11,859)

(78,614)

(53,683)

Other investment activities items

(11)

(2,593)

582

(5,294)

(1,439)

Net cash used in investing activities

(31,557)

(22,362)

(11,277)

(83,908)

(55,122)

Cash Flows from Financing Activities

Total net proceeds from (repayment of) borrowings and bonds

(1,952)

30,909

(24,441)

16,487

(10,817)

Dividends paid

(22,460)

(22,460)

(37,841)

Other financing activities items

(121)

(51)

534

(1,298)

(443)

Net cash generated from (used in) financing activities

(2,073)

8,398

(23,907)

(7,271)

(49,101)

Foreign currency exchange effect

3,167

(2,560)

(7,433)

9,600

(955)

Net increase in cash and cash equivalents

4,782

5,538

4,211

9,209

9,244

Cash and cash equivalents at the beginning of period

71,711

66,173

62,812

67,284

58,040

Cash and cash equivalents at the

end of period

76,493

71,711

67,023

76,493

67,284

Cash and cash equivalents in the consolidated balance sheet

76,493

71,711

67,284

76,493

67,284

Cash and cash equivalents included in disposal groups held for sale

(261)

 

[1] All financial information presented in this press release is unaudited, consolidated and prepared in accordance with Taiwan-IFRS (International Financial Reporting Standards as endorsed for use in the R.O.C.).  Such financial information is generated internally by us and has not been subjected to the same review and scrutiny, including internal auditing procedures and audit by our independent auditors, to which we subject our year-end audited consolidated financial statements, and may vary materially from the year-end audited consolidated financial information for the same period.  Any evaluation of the financial information presented in this press release should also take into account our published year-end audited consolidated financial statements and the notes to those statements.  In addition, the financial information presented is not necessarily indicative of our results of operations for any future period.

[2] In the fourth quarter of 2024, we adjusted our calculation method of revenue sourcing to focus on direct customers rather than end customers. We believe this method better reflects our current business environment. Consequently, we have retrospectively adjusted our customer metrics for the third quarter of 2024.

[3] EBITDA stands for net income or loss before interest, taxes, depreciation, amortization, impairment and investment gain or loss as well as other items.

[4] Capital expenditure excludes building construction costs.

[5] Short-term borrowings include short-term loans and bills payable.

Investor Relations Contact
ir@aseglobal.com
Tel: +886.2.6636.5678
https://www.aseglobal.com

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Technology

BTQ Technologies’ QSSN Selected as Core Security Infrastructure for South Korea’s First Bank-Led KRW Stablecoin Proof-of-Concept

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BTQ provides strategic advisory support and QSSN as core PQC security infrastructure for the iM Bank initiative on the Kaia mainnet, advancing post-quantum migration across global financial infrastructure

BTQ has been selected as the core post-quantum cryptography security technology provider for South Korea’s first bank-led KRW stablecoin proof-of-concept, delivering its Quantum Secure Stablecoin Settlement Network (“QSSN”) for the initiative.
 BTQ is providing strategic advisory support and helping coordinate implementation across the partnership with iM Bank and Finger, supporting the integration of post-quantum protections into regulated digital money infrastructure.
 Built on the Kaia mainnet, the proof-of-concept is connected to the blockchain ecosystems originally developed by Kakao and LINE, linking the initiative to two of the largest messaging and digital platform ecosystems in Korea and Japan.

VANCOUVER, BC, May 6, 2026 /PRNewswire/ – BTQ Technologies Corp. (“BTQ” or the “Company”) (Nasdaq: BTQ) (CBOE CA: BTQ), a global quantum technology company focused on securing mission-critical networks, today announced that it it has been selected as the core PQC security technology provider through its Quantum Secure Stablecoin Settlement Network (“QSSN”) in a proof-of-concept with its Korean strategic partner, Finger Inc. (“Finger”), and iM Bank, a leading Korean commercial bank, for South Korea’s first bank-led Korean won stablecoin infrastructure incorporating post-quantum cryptography (“PQC”).

The proof-of-concept represents more than a technical pilot. It marks an important step in bringing next-generation quantum security into banking infrastructure within Korea’s regulated financial system. In addition to providing QSSN as the core PQC security framework, BTQ is contributing consulting and strategic coordination across the three-way partnership, helping align the project’s security architecture, implementation approach, and long-term post-quantum migration objectives.

“Post-quantum migration requires more than a cryptographic upgrade. It requires coordination across infrastructure, implementation, and institutional stakeholders,” said Olivier Roussy Newton, Chief Executive Officer of BTQ Technologies. “In this initiative, BTQ is providing both strategic advisory support and QSSN as the post-quantum security architecture, while helping lead coordination across the three-way partnership. We believe this proof-of-concept demonstrates how financial institutions can begin integrating quantum-resilient protections into digital money systems in a practical and operationally viable way.”

South Korea’s First Bank-Led PQC Stablecoin Infrastructure Initiative

BTQ is working alongside iM Bank and Finger on a three-way initiative to validate the issuance and distribution infrastructure for a Korean won stablecoin. In addition to supplying QSSN as the PQC security layer, BTQ is providing consulting support and helping to guide coordination across the partnership as the parties evaluate how to integrate post-quantum protections into bank-led digital asset infrastructure.

The proof-of-concept will validate several key components, including real-time reconciliation between bank reserves and blockchain-issued supply, a global-standard smart contract architecture, connectivity to global infrastructure for overseas distribution, and the integration of a PQC-based dual-signature security structure. By applying BTQ’s PQC signature architecture alongside the existing ECDSA cryptographic framework, the system is designed to preserve operational continuity for financial institutions while proactively addressing future quantum computing threats.

Built on Kaia Mainnet

A notable feature of the proof-of-concept is that it will be implemented on the Kaia mainnet, one of Korea’s leading Layer 1 blockchain networks. Kaia was created through the merger of Klaytn, the blockchain originally developed by Kakao, and Finschia, the blockchain associated with LINE. Kakao and LINE sit at the center of two of the largest messaging and digital platform ecosystems in Korea and Japan, respectively, making Kaia a significant piece of regional digital infrastructure.

Klaytn previously participated in the Bank of Korea’s CBDC pilot ecosystem, and the Bank of Korea has continued to advance CBDC testing through initiatives such as Project Hangang.

By combining BTQ’s PQC technology with blockchain infrastructure tied to the Kakao and LINE ecosystems, the proof-of-concept is intended to establish a model that aligns institutional-grade security, blockchain scalability, and evolving regulatory requirements for digital money infrastructure.

QSSN as the Security Layer

The PQC security foundation for the initiative is BTQ’s Quantum Secure Stablecoin Settlement Network, or QSSN, a quantum-secure network architecture designed for stablecoin, tokenized deposit, payment, and digital asset infrastructure. QSSN is designed to protect critical issuer functions, including stablecoin issuance, burning, transfer authority, upgrade control, and administrative permissions, by integrating PQC-based signatures while maintaining existing user experience and operational workflows.

BTQ has previously announced that QSSN was highlighted in the U.S. Post-Quantum Financial Infrastructure Framework (“PQFIF”) as a model architecture for post-quantum digital money infrastructure. The Company has also positioned QSSN as a standards-oriented initiative advanced through QuINSA and aligned with emerging post-quantum financial infrastructure requirements.

Addressing the Harvest-Now, Decrypt-Later Risk

The timing of the proof-of-concept reflects the growing urgency surrounding the “Harvest-Now, Decrypt-Later” risk, in which attackers may collect encrypted financial data today and decrypt it later once sufficiently advanced quantum capabilities emerge. Global institutions are already accelerating post-quantum migration. The U.S. National Institute of Standards and Technology (“NIST”) has finalized its first set of post-quantum cryptography standards, including ML-DSA, ML-KEM, and SLH-DSA, while major technology companies and financial institutions continue to define their own post-quantum transition timelines.

BTQ’s QSSN addresses this challenge through a dual-signature design that allows existing ECDSA-based infrastructure to operate in parallel with NIST-aligned PQC signatures such as ML-DSA. This approach enables banks and payment infrastructure providers to begin a phased transition toward quantum-safe security without disrupting existing systems.

Expanding BTQ’s Korean Ecosystem

BTQ continues to expand its Korean ecosystem across digital assets, payments, banking infrastructure, and hardware-based security. In October 2025, BTQ announced that Finger had joined Danal as an early participant in BTQ’s QSSN pilot program, with the initiative expected to progress from proof-of-concept toward commercialization under QuINSA-aligned guidelines and broader industry frameworks such as PQFIF.

The commencement of the iM Bank proof-of-concept represents an important commercial signal for BTQ, indicating that demand for post-quantum migration among Korean financial institutions is beginning to move from policy discussion toward infrastructure-level implementation. As Korea advances both quantum technology policy and stablecoin-related regulatory discussions, BTQ believes QSSN is well positioned at the intersection of regulated finance, digital asset infrastructure, and post-quantum security.

About iM Bank
iM Bank is a South Korean commercial bank and a subsidiary of DGB Financial Group. Headquartered in Daegu, iM Bank presents itself as a financial companion for customers and traces its roots to Daegu Bank, which was established in 1967 as Korea’s first regional bank. For more information, please visit https://www.imbank.co.kr/

About Finger Inc. Group
Finger supplies and develops financial IT solutions to provide optimized money management strategies for employees and corporate customers. Providing “Smartphone Financial Services”, “Corporate Cash Management Services” for businesses, “Private Wealth Management Services” for private consumers.

Since the year 2000, Finger has accumulated a number of awards and patents regarding its businesses. Based on its Mobile Enterprise Application Platform(MEAP) Orchestra and its funds management system using screen-scrapping technologies, Finger was the first company in Korea to deliver a smartphone banking banking-service. For more information, please visit http://www.finger.co.kr/

About BTQ
BTQ Technologies Corp. (Nasdaq: BTQ | Cboe CA: BTQ) is a quantum technology company focused on accelerating the transition from classical networks to the quantum internet. Backed by a broad patent portfolio and deep technical expertise, BTQ is advancing a full-stack, neutral-atom quantum computing platform spanning hardware, middleware, and post-quantum security solutions for finance, telecommunications, logistics, life sciences, and defense.

Connect with BTQ: Website | LinkedIn | X/Twitter

ON BEHALF OF THE BOARD OF DIRECTORS
Olivier Roussy Newton
CEO, Chairman
Neither Cboe Canada nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

Certain statements herein contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to the business plans of the Company, including with respect to its research partnerships, and anticipated markets in which the Company may be listing its common shares. Forward-looking statements or information often can be identified by the use of words such as “anticipate”, “intend”, “expect”, “plan” or “may” and the variations of these words are intended to identify forward-looking statements and information.

The Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the development of post-quantum algorithms and quantum vulnerabilities, and the quantum computing industry generally. The foregoing list of assumptions is not exhaustive.

Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information are based on assumptions and involve known and unknown risks which may cause actual results to be materially different from any future results, expressed or implied, by such forward-looking statements or information. These factors include risks relating to: the availability of financing for the Company; business and economic conditions in the post-quantum and encryption computing industries generally; the speculative nature of the Company’s research and development programs; the supply and demand for labour and technological post-quantum and encryption technology; unanticipated events related to regulatory and licensing matters and environmental matters; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting blockchains); risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to research and development activities; and other risk factors as detailed from time to time. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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SOURCE BTQ Technologies Corp.

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Zimmer Biomet to Present at the BofA Securities 2026 Health Care Conference

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WARSAW, Ind., May 6, 2026 /PRNewswire/ — Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global medical technology leader, today announced that members of the Zimmer Biomet management team will participate in the Bank of America Securities Health Care Conference on Wednesday, May 13, 2026, with a fireside chat at 8:40 a.m. PT (11:40 a.m. ET).

A live audio webcast can be accessed via Zimmer Biomet’s Investor Relations website at https://investor.zimmerbiomet.com. It will be available for replay following the fireside chat.

About Zimmer Biomet 
Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. We seamlessly transform the patient experience through our innovative products and suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence.

With 90+ years of trusted leadership and proven expertise, Zimmer Biomet is positioned to deliver the highest quality solutions to patients and providers. Our legacy continues to come to life today through our progressive culture of evolution and innovation. 

For more information about our product portfolio, our operations in 25+ countries and sales in 100+ countries or about joining our team, visit www.zimmerbiomet.com or follow on LinkedIn at www.linkedin.com/company/zimmerbiomet or X at www.x.com/zimmerbiomet.

Contacts:

 

Media

Investors

Troy Kirkpatrick

David DeMartino

614-284-1926

646-531-6115

troy.kirkpatrick@zimmerbiomet.com

david.demartino@zimmerbiomet.com

Kirsten Fallon

Zach Weiner

781-779-5561

908-591-6955

kirsten.fallon@zimmerbiomet.com

zach.weiner@zimmerbiomet.com

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SOURCE Zimmer Biomet Holdings, Inc.

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NextLadder Ventures Announces Co-Founder Leadership Team, Investment Focus Areas For Over $1 Billion Initiative Empowering Americans with Personalized, Tech-Enabled Support Tools

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New senior hires from Google and The Collaborative Fund to lead product strategy and venture investing

Fund unveils first investment focus areas to catalyze new ‘Navigation Technology’ market, equipping Americans with cutting-edge tools to achieve economic security, opportunity and empowerment

ST. LOUIS, May 6, 2026 /PRNewswire/ — NextLadder Ventures, a new fund backed by more than $1 billion in capital, today announced its priority investment areas for building a new market for “Navigation Technology” (NavTech) — tools that provide Americans with personalized solutions to navigate life’s challenges and achieve greater economic mobility — and announced its co-founding team, including two new senior hires.

The fund’s active focus areas are based on extensive research identifying the key experiences and high-stakes decision points that have an outsized impact on American families’ economic mobility. Launched investment areas include financial health, career navigation, and benefits and social services access, with further exploration underway around housing, legal aid, justice and re-entry, and mental and physical health. 

The organization is also today welcoming two senior leaders: Lauren Loktev is joining NextLadder as Managing Director of Investments and Brigitte Hoyer Gosselink as Managing Director of Product. Loktev was most recently a partner at the Collaborative Fund, where she backed several breakout companies in early child development, education, and sustainability. Gosselink comes to NextLadder from Google, where she led the company’s AI and social impact portfolio. They join a growing team which has deep expertise at the intersection of economic mobility, technology, public policy, and philanthropy.

NextLadder’s Focus Areas for Investment

Today, the fund is kicking off a plan to deploy $1 billion over the next seven years to accelerate the design, development, and deployment of accessible NavTech tools that aim to help families more successfully navigate the major life experiences that determine whether they get ahead or fall behind. As NextLadder’s inaugural frontier AI lab partner, Anthropic is supporting the build-out of the organization’s AI-native capabilities and is offering technical assistance to NextLadder’s portfolio organizations. 

As an increasing proportion of Americans across income levels find themselves overextended and overwhelmed, NavTech tools are designed to help individuals and families understand their options, connect to information and resources, and take action to recover from a setback or take advantage of an opportunity and reclaim their economic futures.

“Life is getting harder, and too many Americans are stuck facing some of the most complex and consequential moments of their lives without much support,” said Ryan Rippel, CEO of NextLadder Ventures. “Every day, millions in this country face fork-in-the-road decisions that have major implications on whether they climb up the economic ladder or fall farther behind. AI has understandably intensified many Americans’ anxieties about their jobs and their security in the economy. But these technologies are now also making it possible to deliver highly personalized, affordable tools to meet the needs of tens of millions of Americans in a way that has never been practically achievable or financially viable before. With NavTech tools, built for the reality of families’ everyday experiences, we can empower Americans to overcome setbacks, navigate life’s toughest financial decisions, and build more secure futures.”

NavTech tools, built with the needs of individuals, families, and trusted community partners at the center of their design, have the potential to ease burdens most acutely faced by 90 million Americans who live in households that have difficulty in paying for usual home expenses, and turbocharge the capacity of the 1.6 million community workers in non-profit or local, state, and federal government roles who serve them. This growing category of digital technologies includes tools that help families access opportunities such as personalized financial advice and legal aid, get connected with available resources and programs, and manage unexpected hurdles like losing a job or facing an eviction – while freeing social workers and service providers to spend more time on people and less time on red tape and paperwork.

The fund’s active investment areas include:

Financial Health: Developing highly personalized, AI-powered financial health tools that can provide tailored, sustained counsel to help users build savings and protect and recover from financial shocks;
Career Navigation: Building tools to support career navigation, manage and support career transitions, and help workers, case managers, and employers identify pathways to living wage work — all designed to help people successfully find the right jobs for them.
Benefits & Social Services Access: Helping eligible Americans seamlessly identify and enroll in all the benefits and social services available to them, particularly those that support career navigation and transitions, help them navigate critical life moments, and achieve stability toward economic opportunity.

NextLadder is exploring additional focus areas, including housing, legal aid, justice and re-entry, caregiving, and mental and physical health. More on the organization’s vision of these focus areas is available HERE.

In addition to backing direct NavTech solutions, NextLadder is investing in the developers, partners, and standards required to build a durable, self-sustaining market. Across all focus areas, the fund is prioritizing efforts to ensure NavTech tools are reliable, protect users’ privacy, and are trusted by the families who depend on them.

NextLadder’s Co-Founder Leadership Team

NextLadder’s five co-founders will be CEO Ryan Rippel, Chief Strategy and Operations Officer Rhett Dornbach-Bender, Chief of Staff Callie Schwartz, and the two new senior hires: Managing Director of Investments Lauren Loktev and Managing Director of Product Brigitte Hoyer Gosselink, rounding out the fund’s expertise in investing, technology, and impact.

“We’re thrilled to welcome Lauren and Brigitte to the NextLadder team,” said Rippel. “Brigitte has spent her career proving that when applied purposefully, AI and technology can deliver meaningful benefits for communities, and she’ll set the bar for what NavTech tools can deliver for American families today and in the years to come. And with her deep experience backing mission-driven founders, Lauren is the perfect leader to build our venture practice from the ground up and accelerate the growth of the NavTech field. With this team in place, we’re positioned to make NavTech tools easier to build, fund, and access so they reach the people who need them most.”

Loktev brings 15 years of venture capital experience investing at the intersection of for-profit and for-good. Most recently at Collaborative Fund, she backed several companies to significant scale and launched Collab+Sesame, a first-of-its-kind thematic seed fund in partnership with Sesame Workshop focused on early childhood education. At NextLadder, she will build and lead the fund’s venture practice, sourcing and scaling investments in the founders building the next generation of NavTech tools.

“We have a once in a generation opportunity to help steer AI solutions toward those who need them most,” said Loktev. “Many amazing, accomplished founders see this too, and they are on a mission to build scalable, transformative businesses in the critical verticals that help people navigate life-changing moments. I couldn’t be more excited to join NextLadder and to support the most inspiring leaders building this market from the ground up. Thanks to our unique, long-term mandate, we can be creative and flexible in investing across stage and check size to partner with the entrepreneurs and leaders we believe will change the world.”

Prior to her role at NextLadder, Gosselink spent over a decade at Google in several roles including Director of AI and Social Impact, directing more than $500 million in funding for organizations applying AI to address challenges including crisis response, education, and economic opportunity. At NextLadder, she will lead AI and product strategy across the fund’s portfolio, backing solutions and setting market-wide standards for how NavTech tools are designed, evaluated, and improved over time.

“If we collectively harness the AI transformation strategically and purposefully, we can transform the way Americans are empowered to access greater economic mobility,” said Gosselink. “We believe that people-centered products, combined with shifts in the market and the services available to families, can fundamentally reshape how millions of Americans navigate critical moments and achieve prosperity on their own terms.”

To request interviews from the NextLadder Ventures leadership team, contact media@nextladder.com.

About NextLadder Ventures

NextLadder Ventures is a time-bound venture with one goal: empower millions of Americans to reach their potential by 2040. Backed by over $1 billion in capital, the organization invests in breakthrough technologies that remove barriers to economic success and put people in control of their futures. NextLadder Ventures is trailblazing a new market for tech-enabled Navigation Technology tools that help people access the resources they need to navigate pivotal moments — offering flexible, risk-tolerant capital to entrepreneurs building these transformative tools today, while creating a pipeline of tech, talent, and capital for the long run.

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SOURCE NextLadder Ventures

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