Technology
Qudian Inc. Reports Fourth Quarter and Full Year 2024 Unaudited Financial Results
Published
1 year agoon
By
XIAMEN, China, March 20, 2025 /PRNewswire/ — Qudian Inc. (“Qudian” or “the Company” or “We”) (NYSE: QD), a consumer-oriented technology company in China, today announced its unaudited financial results for the quarter and full year ended December 31, 2024.
Fourth Quarter 2024 Financial Highlights:
Total revenues were RMB52.2 million (US$7.2 million), compared to RMB63.8 million for the same period of last yearNet loss attributable to Qudian’s shareholders was RMB66.4 million (US$9.1 million), compared to net loss of RMB117.1 million for the same period of last year; net loss per diluted ADS was RMB0.38 (US$0.05) for the fourth quarter of 2024Non-GAAP net loss attributable to Qudian’s shareholders was RMB64.2 million (US$8.8 million), compared to Non-GAAP net loss of RMB116.6 million for the same period of last year. We exclude share-based compensation expenses from our non-GAAP measures. Non-GAAP net loss per diluted ADS was RMB0.37 (US$0.05) for the fourth quarter of 2024
Full Year 2024 Financial Highlights:
Total revenues were RMB216.4 million (US$29.7 million) for 2024, representing an increase of 71.3% from 2023, primarily attributable to the increase in sales income generated from last-mile delivery businessNet income attributable to Qudian’s shareholders was RMB91.7 million (US$12.6 million), compared to RMB39.1 million in 2023; net income per diluted ADS was RMB0.49 (US$0.07) for 2024Non-GAAP net income attributable to Qudian’s shareholders was RMB 94.0 million (US$12.9 million), compared to RMB 44.1 million in 2023; non-GAAP net income per diluted ADS was RMB0.50 (US$0.07) for 2024
The Company’s last-mile delivery business encountered intense competition in the fourth quarter of 2024, which led to a decline in revenue to approximately RMB50.3 million in the fourth quarter of 2024, compared to RMB62.1 million for the same period of last year. It is important to note that while pursuing growth, there is a possibility that we may incur additional operational losses in the future. Moving forward, the Company expects to remain steadfast in its commitment to executing its business transition and simultaneously maintaining prudent cash management to safeguard its balance sheet.
Fourth Quarter Financial Results
Sales income and others decreased by 18.1% to RMB52.2 million (US$7.2 million) from RMB63.8 million for the fourth quarter of 2023, which was primarily due to the decrease in sales income generated from last-mile delivery business as a result of the increased competition in the industry.
Total operating costs and expenses decreased to RMB163.7 million (US$22.4 million) from RMB184.1 million for the fourth quarter of 2023.
Cost of revenues decreased by 39.0% to RMB47.8 million (US$6.6 million) from RMB78.4 million for the fourth quarter of 2023, primarily due to the decrease in service cost related to last-mile delivery business as a result of the decline in delivery order volume.
General and administrative expenses increased by 49.1% to RMB113.6 million (US$15.6 million) from RMB76.2 million for the fourth quarter of 2023, primarily due to the increase in staff compensations.
Research and development expenses decreased by 20.4% to RMB12.8 million (US$1.8 million) from RMB16.1 million for the fourth quarter of 2023, as a result of the decrease in staff head count, which led to a corresponding decrease in staff salaries.
Loss from operations was RMB111.3 million (US$15.2 million), compared to RMB107.2 million for the fourth quarter of 2023.
Loss on derivative instrument was RMB32.6 million (US$4.5 million), compared to loss on derivative instrument of RMB35.5 million for the fourth quarter of 2023, the loss was mainly due to the decrease in quoted price of the underlying equity securities relating to the derivative instruments we held.
Net loss attributable to Qudian’s shareholders was RMB66.4 million (US$9.1 million), compared to net loss attributable to Qudian’s shareholders of RMB117.1 million in the fourth quarter of 2023. Net loss per diluted ADS was RMB0.38 (US$0.05).
Non-GAAP net loss attributable to Qudian’s shareholders was RMB64.2 million (US$8.8 million), compared to Non-GAAP net loss attributable to Qudian’s shareholders of RMB116.6 in the fourth quarter of 2023. Non-GAAP net income per diluted ADS was RMB0.37 (US$0.05).
Full Year 2024 Financial Results
Sales income and others increased by 71.3% to RMB216.4 million (US$29.7 million) from RMB126.3 million for the year of 2023, which was primarily due to the increase in sales income generated from last-mile delivery business.
Total operating costs and expenses increased by 1.8% to RMB524.9 million (US$71.9 million) from RMB515.7 million for 2023.
Cost of revenues increased by 25.5% to RMB201.0 million (US$27.5 million) from RMB160.1 million for 2023, primarily due to the increase in service cost related to last-mile delivery business primarily attributable to the increase in delivery order volume.
General and administrative expenses was RMB276.6 million (US$37.9 million), which remain stable as compared to RMB273.6 million for 2023, primarily attributable to the reduce in professional services fees after the Company completed research and consultation for last-mile delivery business in its early stage and largely offset by increase in staff compensations.
Research and development expenses increased by 22.4% to RMB58.5 million (US$8.0 million) from RMB47.8 million for 2023, primarily due to the increase in staff head count as the Company continues to explore new business opportunities, which led to a corresponding increase in staff salaries.
Loss from operations was RMB308.1 million (US$42.2 million) compared to RMB331.0 million for 2023.
Interest and investment income, net increased by 48.8% to RMB380.1 million (US$52.1 million) from RMB255.3 million for 2023, primarily attributable to the increase of income from investments in the year of 2024.
Gain on derivative instrument was RMB19.5 million (US$2.7 million) from RMB153.8 million for 2023, mainly due to the decrease of realized investment income of derivative instrument in the year of 2024.
Net income attributable to Qudian’s shareholders was RMB91.7 million (US$12.6 million), compared to RMB39.1 million in 2023; net income per diluted ADS was RMB0.49 (US$0.07) for 2024.
Non-GAAP net income attributable to Qudian’s shareholders was RMB 94.0 million (US$12.9 million), compared to RMB 44.1 million in 2023; non-GAAP net income per diluted ADS was RMB0.50 (US$0.07) for 2024.
Cash Flow
As of December 31, 2024, the Company had cash and cash equivalents of RMB4,263.3 million (US$584.1 million) and restricted cash of RMB781.2 million (US$107.0 million). Restricted cash mainly represents security deposits held in designated bank accounts for the guarantee of short-term borrowings. Such restricted cash is not available to fund the general liquidity needs of the Company.
For the fourth quarter of 2024, net cash used in operating activities was RMB121.0 million (US$16.6 million), mainly due to payments for labor-related costs and expenses. Net cash used in investing activities was RMB388.4 million (US$53.2 million), mainly due to purchase of short-term investments. Net cash used in financing activities was RMB146.7 million (US$20.1 million), mainly due to the repurchase of ordinary shares.
For the full year of 2024, net cash used in operating activities was RMB111.0 million (US$15.2 million), mainly due to payments for labor-related costs and expenses. Net cash used in investing activities was RMB2,344.4 million (US$321.2 million), mainly due to purchase of short-term investments and payments of deposit pledged as collateral for derivative instrument. Net cash provided by financing activities was RMB186.8 million (US$25.6 million), mainly due to the proceeds from short-term borrowings and partially offset by the repurchase of ordinary shares.
Last-mile Delivery Business
In response to the surging demand for cross-border e-commerce transactions, the Company has proactively sought innovative logistic services and solutions to meet global consumers’ expectations for swift and top-tier delivery services. In December 2022, the Company launched its last-mile delivery services under the brand name of “Fast Horse.” The business was initially launched on a trial basis and has gradually achieved meaningful scale in Australia during the second quarter of 2023. The Company’s last-mile delivery service is available in Australia and New Zealand. As of the date of this release, the Company’s last-mile delivery service is encountering intense competition and uncertainty.
Update on Share Repurchase
Our Board approved a share repurchase program in March 2024 to purchase up to US$300 million worth of Class A ordinary shares or ADSs in the next 36 months starting from June 13, 2024. From the launch of the share repurchase program on June 13, 2024 to March 16, 2025, the Company has in aggregate purchased 17.8 million ADSs in the open market for a total amount of approximately US$41.2 million (an average price of $2.3 per ADS) pursuant to the share repurchase program.
As of March 16, 2025, the Company had in aggregate purchased 172.1 million ADSs for a total amount of approximately US$735.4 million (an average price of $4.3 per ADS).
About Qudian Inc.
Qudian Inc. (“Qudian”) is a consumer-oriented technology company. The Company historically focused on providing credit solutions to consumers. Qudian is exploring innovative business opportunities to satisfy consumers’ demand by leveraging its technology capabilities.
For more information, please visit http://ir.qudian.com.
Use of Non-GAAP Financial Measures
We use Non-GAAP net income/loss attributable to Qudian’s shareholders, a Non-GAAP financial measure, in evaluating our operating results and for financial and operational decision-making purposes. We believe that Non-GAAP net income/loss attributable to Qudian’s shareholders helps identify underlying trends in our business by excluding the impact of share-based compensation expenses, which are non-cash charges. We believe that Non-GAAP net income/loss attributable to Qudian’s shareholders provides useful information about our operating results, enhances the overall understanding of our past performance and future prospects and allows for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.
Non-GAAP net income/loss attributable to Qudian’s shareholders is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. This Non-GAAP financial measure has limitations as an analytical tool, and when assessing our operating performance, cash flows or our liquidity, investors should not consider them in isolation, or as a substitute for net loss /income, cash flows provided by operating activities or other consolidated statements of operation and cash flow data prepared in accordance with U.S. GAAP.
We mitigate these limitations by reconciling the Non-GAAP financial measure to the most comparable U.S. GAAP performance measure, all of which should be considered when evaluating our performance.
For more information on this Non-GAAP financial measure, please see the table captioned “Unaudited Reconciliation of GAAP and Non-GAAP Results” set forth at the end of this press release.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB7.2993 to US$1.00, the noon buying rate in effect on December 31, 2024, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.
Statement Regarding Preliminary Unaudited Financial Information
The unaudited financial information set out in this earnings release is preliminary and subject to potential adjustments. Adjustments to the consolidated financial statements may be identified when audit work has been performed for the Company’s year-end audit, which could result in significant differences from this preliminary unaudited financial information.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the expectation of its collection efficiency and delinquency, contain forward-looking statements. Qudian may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Qudian’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Qudian’s goal and strategies; Qudian’s expansion plans; Qudian’s future business development, financial condition and results of operations; Qudian’s expectations regarding demand for, and market acceptance of, its products; Qudian’s expectations regarding keeping and strengthening its relationships with customers, business partners and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Qudian’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Qudian does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
Qudian Inc.
Tel: +86-592-596-8208
E-mail: ir@qudian.com
QUDIAN INC.
Unaudited Condensed Consolidated Statements of Operations
Three months ended December 31,
(In thousands except for number
2023
2024
of shares and per-share data)
(Unaudited)
(Unaudited)
RMB
RMB
US$
Revenues:
Sales income and others
63,794
52,236
7,156
Total revenues
63,794
52,236
7,156
Operating cost and expenses:
Cost of revenues
(78,363)
(47,826)
(6,552)
Sales and marketing
(1,167)
(2,586)
(354)
General and administrative
(76,173)
(113,560)
(15,558)
Research and development
(16,103)
(12,816)
(1,756)
Expected credit (loss)/reversal for receivables and other assets
(9,266)
13,346
1,828
Impairment loss from other assets
(3,054)
(229)
(31)
Total operating cost and expenses
(184,126)
(163,671)
(22,423)
Other operating income
13,086
157
22
Loss from operations
(107,246)
(111,278)
(15,245)
Interest and investment income, net
14,347
7,971
1,092
Loss from equity method investments
(1,778)
(2,102)
(288)
Loss on derivative instruments
(35,480)
(32,648)
(4,473)
Foreign exchange (loss)/gain, net
(1,390)
29,524
4,045
Other income
84
51,216
7,017
Other expenses
(2,930)
(7,284)
(998)
Net loss before income taxes
(134,393)
(64,601)
(8,850)
Income tax expenses
17,319
(1,760)
(241)
Net loss
(117,074)
(66,361)
(9,091)
Net loss attributable to Qudian Inc.’s shareholders
(117,074)
(66,361)
(9,091)
Loss per share for Class A and Class B ordinary shares:
Basic
(0.57)
(0.38)
(0.05)
Diluted
(0.57)
(0.38)
(0.05)
Loss per ADS (1 Class A ordinary share equals 1
ADSs):
Basic
(0.57)
(0.38)
(0.05)
Diluted
(0.57)
(0.38)
(0.05)
Weighted average number of Class A and Class B
ordinary shares outstanding:
Basic
204,075,368
172,381,467
172,381,467
Diluted
207,646,764
177,303,133
177,303,133
Other comprehensive (loss)/gain:
Foreign currency translation adjustment
(38,011)
60,308
8,262
Total comprehensive loss
(155,085)
(6,053)
(829)
Total comprehensive loss attributable to
Qudian Inc.’s shareholders
(155,085)
(6,053)
(829)
QUDIAN INC.
Unaudited Condensed Consolidated Statements of Operations
Year ended December 31,
(In thousands except for number
2023
2024
of shares and per-share data)
(Unaudited)
(Unaudited)
RMB
RMB
US$
Revenues:
Sales income and others
126,338
216,428
29,651
Total revenues
126,338
216,428
29,651
Operating cost and expenses:
Cost of revenues
(160,114)
(201,023)
(27,540)
Sales and marketing
(3,796)
(5,868)
(804)
General and administrative
(273,589)
(276,565)
(37,889)
Research and development
(47,763)
(58,464)
(8,010)
Expected credit (loss)/reversal for receivables and other assets
(24,654)
18,616
2,550
Impairment loss from other assets
(5,800)
(1,570)
(215)
Total operating cost and expenses
(515,716)
(524,874)
(71,908)
Other operating income
58,368
298
41
Loss from operations
(331,010)
(308,148)
(42,216)
Interest and investment income, net
255,333
380,062
52,068
Gain/(Loss) from equity method investments
3,207
(4,049)
(555)
Gain on derivative instruments
153,835
19,457
2,666
Foreign exchange (loss)/gain, net
(2,932)
20,658
2,830
Other income
29,005
61,352
8,405
Other expenses
(5,965)
(21,682)
(2,970)
Net income before income taxes
101,473
147,650
20,228
Income tax expenses
(62,340)
(55,919)
(7,661)
Net income
39,133
91,731
12,567
Net income attributable to Qudian Inc.’s shareholders
39,133
91,731
12,567
Earnings per share for Class A and Class B ordinary shares:
Basic
0.18
0.50
0.07
Diluted
0.18
0.49
0.07
Earnings per ADS (1 Class A ordinary share equals 1 ADSs):
Basic
0.18
0.50
0.07
Diluted
0.18
0.49
0.07
Weighted average number of Class A and Class B ordinary
shares outstanding:
Basic
217,281,512
182,859,075
182,859,075
Diluted
222,222,858
187,780,699
187,780,699
Other comprehensive gain:
Foreign currency translation adjustment
21,830
37,882
5,190
Total comprehensive income
60,963
129,613
17,757
Total comprehensive income attributable to Qudian
Inc.’s shareholders
60,963
129,613
17,757
QUDIAN INC.
Unaudited Condensed Consolidated Balance Sheets
As of December 31,
As of December 31,
(In thousands except for number
2023
2024
of shares and per-share data)
(Unaudited)
(Unaudited)
RMB
RMB
US$
ASSETS:
Current assets:
Cash and cash equivalents
7,207,343
4,263,312
584,071
Restricted cash
59,435
781,187
107,022
Time and structured deposit
1,554,121
2,009,019
275,234
Short-term investments
642,894
1,118,547
153,240
Accounts receivables
25,877
34,275
4,696
Other current assets
670,277
1,933,182
264,846
Total current assets
10,159,947
10,139,522
1,389,109
Non-current assets:
Right-of-use assets
164,585
158,007
21,647
Investment in equity method investee
136,804
146,101
20,016
Long-term investments
210,591
78,987
10,821
Property and equipment, net
1,308,338
1,548,120
212,092
Intangible assets
3,093
2,207
302
Other non-current assets
498,838
353,369
48,411
Total non-current assets
2,322,249
2,286,791
313,289
TOTAL ASSETS
12,482,196
12,426,313
1,702,398
QUDIAN INC.
Unaudited Condensed Consolidated Balance Sheets (Continued)
As of December 31,
As of December 31,
(In thousands except for number
2023
2024
of shares and per-share data)
(Unaudited)
(Unaudited)
RMB
RMB
US$
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term borrowings and interest payables
–
720,000
98,640
Short-term lease liabilities
29,938
18,697
2,561
Derivative instruments-liability
312,870
89,895
12,316
Accrued expenses and other current liabilities
299,836
224,164
30,710
Income tax payable
111,842
33,423
4,579
Total current liabilities
754,486
1,086,179
148,806
Non-current liabilities:
Long-term lease liabilities
39,759
48,706
6,673
Total non-current liabilities
39,759
48,706
6,673
Total liabilities
794,245
1,134,885
155,479
Shareholders’ equity:
Class A Ordinary shares
132
132
18
Class B Ordinary shares
44
44
6
Treasury shares
(899,628)
(1,419,286)
(194,441)
Additional paid-in capital
4,033,146
4,026,668
551,651
Accumulated other comprehensive loss
(24,130)
13,752
1,884
Retained earnings
8,578,387
8,670,118
1,187,801
Total shareholders’ equity
11,687,951
11,291,428
1,546,919
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
12,482,196
12,426,313
1,702,398
QUDIAN INC.
Unaudited Reconciliation of GAAP And Non-GAAP Results
Three months ended December 31,
2023
2024
(In thousands except for number
(Unaudited)
(Unaudited)
of shares and per-share data)
RMB
RMB
US$
Total net loss attributable to Qudian Inc.’s shareholders
(117,074)
(66,361)
(9,091)
Add: Share-based compensation expenses
500
2,150
295
Non-GAAP net loss attributable to Qudian Inc.’s shareholders
(116,574)
(64,211)
(8,796)
Non-GAAP net loss per share—basic
(0.57)
(0.37)
(0.05)
Non-GAAP net loss per share—diluted
(0.57)
(0.37)
(0.05)
Weighted average shares outstanding—basic
204,075,368
172,381,467
172,381,467
Weighted average shares outstanding—diluted
207,646,764
177,303,133
177,303,133
QUDIAN INC.
Unaudited Reconciliation of GAAP And Non-GAAP Results
Year ended December 31,
2023
2024
(In thousands except for number
(Unaudited)
(Unaudited)
of shares and per-share data)
RMB
RMB
US$
Total net income attributable to Qudian Inc.’s shareholders
39,133
91,731
12,567
Add: Share-based compensation expenses
4,936
2,258
309
Non-GAAP net income attributable to Qudian Inc.’s shareholders
44,069
93,989
12,876
Non-GAAP net income per share—basic
0.20
0.51
0.07
Non-GAAP net income per share—diluted
0.20
0.50
0.07
Weighted average shares outstanding—basic
217,281,512
182,859,075
182,859,075
Weighted average shares outstanding—diluted
222,222,858
187,780,699
187,780,699
View original content:https://www.prnewswire.com/news-releases/qudian-inc-reports-fourth-quarter-and-full-year-2024-unaudited-financial-results-302406859.html
SOURCE Qudian Inc.
You may like
Technology
TELUS transforms legacy telecommunications site into 195 new homes for Nanaimo
Published
60 minutes agoon
July 24, 2026By
Across Canada, demand for rental housing continues to outpace supply. TELUS Living is helping address this challenge by transforming existing TELUS properties into smart, sustainable homes in communities where new housing is needed most.
NANAIMO, BC, July 23, 2026 /CNW/ — TELUS Living today opened a new 195-home purpose-built rental community in downtown Nanaimo, transforming a former telecommunications property into smart, sustainable housing that helps address one of Canada’s most pressing challenges: increasing rental supply in growing communities. Located at 235 Wallace St, the multi-storey, mixed-use build features 195 purpose-built rental units, providing much-needed housing supply to downtown Nanaimo, while thoughtfully honouring the city’s unique coastal identity and heritage.
The Nanaimo development is part of TELUS’ long-term strategy to repurpose legacy telecommunications infrastructure into purpose-built rental housing as the company modernizes its network and completes the transition from copper to PureFibre technology. The Nanaimo community joins TELUS Living’s growing portfolio of developments that are transforming underutilized TELUS properties into housing across Canada.
“The Nanaimo development represents exactly what TELUS Living stands for by providing purpose-built rental housing tailored to the specific needs of the community it serves. We’ve designed 235 Wallace St with Nanaimo’s unique character in mind, offering a curated lifestyle that blends a climate-conscious, Zero Carbon Design approach with top-tier wellness and smart-tech amenities,” said Manasweeta Bhatia, Vice President of Corporate Real Estate at TELUS. “We shape every TELUS Living project by listening to the community, understanding its unique identity and design needs, and building accordingly. Its central downtown location and proximity to both Vancouver Island University and Nanaimo Regional General Hospital also position it as an ideal home for students, educators, and healthcare workers seeking modern, connected living.”
“More housing and good jobs are a win-win for downtown Nanaimo,” said Sheila Malcolmson, MLA for Nanaimo-Gabriola Island. “Adding to the approximately 1,500 affordable homes our B.C. government has completed and underway in Nanaimo, it’s great to see TELUS stepping up with 195 new units. It’s been great to see hundreds of construction and indirect jobs in town, and I can’t wait to see folks move into their new homes.”
“I’m thrilled to see a new rental option in downtown Nanaimo, and especially excited that this conversion was made with sustainability and active transportation in mind,” said George Anderson, MLA for Nanaimo-Lantzville. “Ensuring everyone can find homes they can afford in the communities they love requires creative approaches, and I hope to see more creativity like this in the future.”
“I’m delighted to celebrate the opening of TELUS Living Nanaimo, a landmark project that strengthens our downtown as a vibrant, inclusive place to live,” said Leonard Krog, Mayor of Nanaimo. “This partnership between the City of Nanaimo, our community, and TELUS demonstrates what’s possible when we work together toward shared goals. The addition of nearly 200 diverse housing options is exactly what our city needs, and we’re excited about the positive impact this will have on our community. TELUS’ commitment to our city and investment in our future will contribute to Nanaimo’s economic and social vitality.”
Situated within walking distance of downtown’s vibrant cafes, eclectic Old City Quarter, the iconic Harbourfront Walkway, and a short transit ride from Vancouver Island University and Nanaimo Regional General Hospital, the development is architecturally designed to blend classic and contemporary exterior elements. Curated for modern living, the community offers an expansive suite of indoor and outdoor social amenities alongside street-level retail and public art contributions.
Project Highlights:
Smart-Enabled Living: Powered by the TELUS PureFibre network, the custom TELUS Living App provides keyless entry, smart climate control, leak detection, parcel notifications, visitor management, and amenity bookings.Social & Wellness Amenities: Features a rooftop deck with an outdoor kitchen, BBQs, and panoramic views, alongside a state-of-the-art fitness centre and resident lounge.Pet & Active Lifestyle Ready: Equipped with a dedicated children’s outdoor play area, outdoor bark park and pet care station, secure underground parking, bike storage and maintenance facilities.Premium Functional Interiors: Studio to three-bedroom layouts include private balconies, individual A/C with Energy Recovery Ventilators (ERVs) for optimal air quality, Samsung SmartThings appliances, and in-suite laundry.Gold-Standard Sustainability: Sets a Vancouver Island benchmark aligned with Zero Carbon Design standards and Salmon-Safe development guidelines that actively protects local ecosystems.
This opening marks a significant milestone in TELUS Living’s mission to transform existing real estate holdings into purpose-built rentals that bridge the housing gap with smart, sustainable, and community-focused developments. As TELUS completes its transition from legacy copper to advanced fibre networks, the company is transforming its historic central offices–which once served as the backbone of B.C.’s phone system–into vibrant, smart, purpose-built rental communities. TELUS Living is breathing new life into these properties to help address Canada’s housing crisis. For more details on TELUS Living Nanaimo or to view available floor plans, please visit telusliving.com/nanaimo.
About TELUS
TELUS (TSX: T, NYSE: TU) is a world-leading communications technology company operating in more than 45 countries and generating over $20 billion in annual revenue with more than 17 million customer connections through our advanced suite of broadband services for consumers, businesses and the public sector. We are committed to leveraging our technology to enable remarkable human outcomes. TELUS is passionate about putting our customers and communities first, leading the way globally in client service excellence and social capitalism. TELUS Health is enhancing approximately 170 million lives across 200 countries and territories through innovative preventive medicine and well-being technologies. TELUS Agriculture & Consumer Goods utilizes digital technologies and data insights to optimize the connection between producers and consumers. TELUS Digital specializes in digital customer experiences and future-focused digital transformations that deliver value for their global clients. Guided by our enduring ‘give where we live’ philosophy, TELUS continues to invest in initiatives that support education, health and community well-being. In 2023, we launched the TELUS Student Bursary, which strives to ensure that every young person in Canada who wants a postsecondary education has the opportunity to pursue one. To date, the program has distributed over $6 million in bursaries to 2,000 students and counting. Since 2000, TELUS, our team members and retirees have contributed $1.85 billion in cash, in-kind contributions, time and programs, including 2.5 million days of service–earning TELUS the distinction of the world’s most giving company.
For more information, visit telus.com.
For more information, please contact:
Brandi Rees
TELUS Public Relations
brandi.rees@telus.com
SOURCE TELUS Communications Inc.
Technology
Award-Winning Author Euran Daniels to Deliver Opening Keynote at International Nevus Outreach Conference, Unveiling New $100,000 Global Initiative to Advance CMN Research and Awareness
Published
60 minutes agoon
July 24, 2026By
ORLANDO, Fla., July 24, 2026 /PRNewswire/ — Award-winning author, entrepreneur, and Congenital Melanocytic Nevus (CMN) advocate Euran S. Daniels will deliver the opening keynote address at the 2026 Nevus Outreach International Conference on Sunday, July 26, 2026, at 1:00 p.m. at the Renaissance Orlando at SeaWorld®.
Launching the conference under this year’s theme, “Amplify,” Daniels will share his personal journey of living with CMN for more than 50 years and challenge attendees to transform awareness into meaningful action through hope, advocacy, and research.
During his keynote, Daniels will unveil a new global initiative aimed at expanding awareness and inspiring greater support for CMN research. The initiative will encourage individuals, healthcare organizations, corporations, and philanthropists to join a collaborative effort to improve the lives of those affected by this rare skin condition.
“For more than fifty years, I’ve lived with a visible mark that became my purpose,” said Daniels. “My hope is that every person leaves this conference believing they can make a difference by amplifying hope, supporting research, and leaving a positive impact on the lives of others.”
CMN is a rare skin condition present at birth that, in its larger forms, affects approximately 1 in every 20,000 births. Individuals living with CMN may face complex medical challenges, including an increased risk of melanoma, multiple surgeries, and the emotional impact of living with a visible difference.
Daniels’ keynote will focus on three powerful messages: You’re Not Alone. Live Your Life. Leave Your Mark.Through his story of resilience and leadership, he hopes to inspire families, advocates, researchers, and community leaders to work together to create greater awareness and opportunity for those living with CMN.
Media are invited to attend the keynote address to learn more about this initiative.
For more information, visit www.EuranDaniels.com or to support CMN research, visit www.nevus.org/joineuran.
Media Contact:
Media Relations – Fanisha Love (910) 262-3439
Email: info@danielscompany.com
Website: www.EuranDaniels.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/award-winning-author-euran-daniels-to-deliver-opening-keynote-at-international-nevus-outreach-conference-unveiling-new-100-000-global-initiative-to-advance-cmn-research-and-awareness-302834295.html
SOURCE Daniels Company
Technology
Immigration Desk Shares Guidance for Entrepreneurs and Foreign Businesses Planning US Expansion in 2026
Published
60 minutes agoon
July 24, 2026By
NEWTON, Mass., July 24, 2026 /PRNewswire/ — Immigration Desk is highlighting key immigration considerations for entrepreneurs, investors, and foreign-owned companies looking to establish or expand a presence in the United States, as interest in cross-border growth continues alongside evolving visa procedures and compliance expectations. The firm noted that many business owners plan with a general goal of opening a US office, only to be met by a system that favors careful planning and documentation.
Immigration planning often intersects with business planning, with company structure, ownership percentage, funding sources, job roles, and operational timelines influencing the pathways available and evidence required. A viable business plan alone often isn’t enough, and applicants must also meet specific legal definitions tied to visa categories. Those definitions, however, can differ significantly depending on the route pursued.
“Business immigration is not a single form or a single standard,” said Anu Gupta, attorney at Immigration Desk. “Entrepreneurs and foreign businesses often come to the process thinking in terms of growth goals like opening a location, hiring, and launching a product. However, the immigration system asks for detailed proof of role, eligibility, and structure. Planning early helps align those two realities and avoids last-minute surprises.”
Immigration Desk notes that entrepreneurs and foreign businesses typically evaluate options based on the nature of the US activity and the individual’s role. For some, the relevant question is whether a company can transfer an executive, manager, or specialized employee to a US office under an intracompany framework, particularly when the business can document a qualifying relationship between entities.
For others, the analysis may focus on investment-based categories where the applicant is actively directing and developing a US enterprise. In still other cases, founders may explore categories that emphasize extraordinary ability, research-based work, or employer sponsorship, depending on the individual’s background and the company’s needs.
L-1 and E-2 Visas: Pathways for Multinational Companies and Investors
For companies evaluating intracompany transfers, the L-1 visa provides a structured pathway for multinational businesses to bring executives, managers, or employees with specialized knowledge to a U.S. office — including newly established entities. Immigration Desk notes that L-1 cases require careful documentation of the qualifying relationship between the foreign and U.S. companies, as well as a clear demonstration of the applicant’s role and seniority. For new U.S. offices in particular, USCIS applies additional scrutiny to whether the operation is sufficiently established to support the position being petitioned.
The E-2 treaty investor visa offers a separate route for entrepreneurs from qualifying treaty countries who are making a substantial investment in and actively directing a U.S. enterprise. While the E-2 does not require a minimum investment threshold, Immigration Desk emphasizes that the investment must be proportional to the nature of the business and at risk in a commercial sense — factors that require careful structuring and documentation from the outset. Unlike some other business visa categories, the E-2 does not provide a direct path to permanent residency, which means founders relying on it should also plan for long-term status options early in the process.
The firm also points to a recurring challenge for growth-stage companies: staffing. Employer-sponsored visas can involve strict timing, evolving agency practices, and in some categories, annual numerical limits. In recent years, many employers have sought clarity on how to plan around the H-1B cap and lottery cycle, particularly when hiring needs don’t align neatly with government filing windows.
While the H-1B category remains widely used for specialized professional roles, Immigration Desk emphasizes that businesses should treat it as one part of a broader hiring and compliance plan rather than a single solution, especially when role definitions, worksite compliance, and documentation requirements are central to adjudication.
“People often focus on the name of a visa category, but the practical work is in the documentation and the operational reality behind the petition,” Gupta added. “For businesses, that means understanding what the government expects in terms of job duties, business activity, and the evidence that supports eligibility. For entrepreneurs, it can mean clarifying ownership, funding, and what day-to-day leadership looks like in a way that is consistent and well documented.”
Immigration Desk also notes that immigration planning frequently involves risk management. Businesses may need to consider how quickly a US operation must become functional, what happens if timelines shift, and how to maintain continuity if a petition is delayed or requires additional review. For founders, the concerns often include whether a pathway supports both business operations and personal stability, including travel, family planning, and long-term status options.
The firm cautions that immigration outcomes depend on individualized facts and that what works for one company may not apply to another. However, the most consistent problems, like incomplete timelines, inconsistent documentation, unclear roles, and last-minute filings, are completely avoidable. In response to those issues, Immigration Desk encourages business owners to approach US immigration as a phased process that begins with strategy and thorough preparation, with an operational plan for compliance after arrival.
For more information, please refer to the company’s website.
Immigration Desk
704 Walnut Street Newton, MA 02459
1-800-688-7892
https://immigrationdesk.com/
clients@ImmigrationDesk.com
At Immigration Desk, attorney Anu Gupta and her team have helped thousands of entrepreneurs, investors, and multinational companies navigate complex immigration matters. With more than 40 years of combined experience and over 10,000 immigration cases handled, the firm has developed a reputation for careful preparation and strategic case planning. Whether you are a startup founder, a multinational executive, or an investor seeking to establish a presence in the United States, Immigration Desk can help you determine the most effective immigration strategy for your situation.
View original content to download multimedia:https://www.prnewswire.com/news-releases/immigration-desk-shares-guidance-for-entrepreneurs-and-foreign-businesses-planning-us-expansion-in-2026-302834299.html
SOURCE Immigration Desk
TELUS transforms legacy telecommunications site into 195 new homes for Nanaimo
Award-Winning Author Euran Daniels to Deliver Opening Keynote at International Nevus Outreach Conference, Unveiling New $100,000 Global Initiative to Advance CMN Research and Awareness
Immigration Desk Shares Guidance for Entrepreneurs and Foreign Businesses Planning US Expansion in 2026
Send Rakhi to UK swiftly with UK Gifts Portal
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
New Gooseneck Omni Antennas Offer Enhanced Signals in a Durable Package
Why You Should Build on #NEAR – Co-founder Illia Polosukhin at CV Labs
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
NEAR End of Year Town Hall 2021: The Open Web World, MetaBUILD 2 Hackathon and 2021 recap
Trending
-
Coin Market5 days agoWill the US get CLARITY this week? Bitcoin’s new $80K target: Hodler’s Digest, July 19
-
Technology5 days ago“Every Day CO₂ Challenge”: More Than a Game, A New Way of Learning
-
Technology4 days agoTrakka Systems to Demonstrate Advanced ISR Capabilities at Farnborough International Airshow 2026
-
Technology5 days ago
China-Europe Youth Exchange Campaign: When Fashion Meets Football — A Green Pitch Appointment for Cross-Cultural Dialogue
-
Technology5 days agoPowering ASEAN’s Manufacturing Transformation: IME 2026 Connects Technology, Industry and Opportunity
-
Technology4 days agoSigneasy expands beyond eSignatures with Intelligent Contract Management for growing businesses
-
Technology5 days agoDBS named Asia’s Best Digital Bank by Euromoney, recognised for its AI leadership and responsible innovation
-
Technology4 days agoBOC Group Releases ADONIS 19.0 LTS to Bring Smarter Support into Everyday BPM Work
