Technology
CBAK Energy Reports Second Quarter and First Half 2024 Unaudited Financial Results
Published
2 years agoon
By
DALIAN, China, Aug. 9, 2024 /PRNewswire/ — CBAK Energy Technology, Inc. (NASDAQ: CBAT) (“CBAK Energy,” or the “Company”) a leading lithium-ion battery manufacturer and electric energy solution provider in China, today reported its unaudited financial results for the second quarter and the first half of 2024 ended June 30, 2024.
First Half of 2024 Financial Highlights
Net revenues from sales of batteries were $80.4 million, an increase of 55% from $51.8 million in the same period of 2023.
– Net revenues from batteries used in light electric vehicles were $3.3 million, an increase of 7% from $3.1 million in the same period of 2023.
– Net revenues from batteries used in electric vehicles were $0.7 million, a decrease of 65% from $2.0 million in the same period of 2023.
– Net revenues from residential energy supply & uninterruptible supplies were $76.4 million, an increase of 63% from $46.8 million in the same period of 2023.
Gross margin for the battery business was 39.0%, an increase of 26.2 percentage points from 12.8% in the same period of 2023.Net income from the battery business was $19.6 million, compared to net loss of $1.0 million in the same period of 2023.
Yunfei Li, Chairman and Chief Executive Officer of the Company, commented, “We are thrilled to share with our shareholders and investors that we have achieved a remarkable 55% increase in net revenues from our battery business, reaching $80.4 million for the first half of the year. This significant growth is particularly notable given the broader industry challenges and declining sales volumes faced by our competitors. Our strategic pivot towards residential energy solutions and diverse energy storage applications has been a key driver of this success, with the bulk of our revenue increase coming from these sectors. Our major clients remain highly satisfied with the performance of our products and continue to show strong loyalty. We are confident that this exceptional sales momentum will continue to drive our success in the future.”
Jiewei Li, Chief Financial Officer and Secretary of the Board of the Company, added, “In addition to the remarkable surge in net revenues from our battery business, we are thrilled to report an impressive gross margin of 39% for the first half of the year. This outstanding performance not only highlights our efficiency but also places us ahead of all our competitors in battery manufacturing. Consequently, our net income from the battery sector has reached $19.6 million, surpassing the figures from the previous fiscal year.
We are confident that our gross margin will remain robust due to high client satisfaction with our battery products, and we anticipate continued growth in net income in the upcoming quarters. Furthermore, we are engaged in discussions with several private equity investors regarding both our sodium and lithium battery segments. These investors are showing interest in contributing capital at a significantly higher valuation. We expect to finalize these transactions and deliver positive news to the market.”
Second Quarter of 2024 Business Highlights & Recent Developments
In June, CBAK Energy announced that its subsidiary, CBAK Power, had secured an order valued at almost USD7.0 million from a Renowned European Client.In June, CBAK Energy unveiled a significant advancement in fast-charging technology with the enhanced model 32140 battery, achieving a full charge in just 35 minutes.
Second Quarter of 2024 Financial Results
Net revenues[1] were $47.8 million, representing an increase of 13% compared to $42.4 million in the same period of 2023. This increase was primarily attributable to an increase in revenue from the Company’s battery business.
Among these revenues, detailed revenues from our battery business are:
Battery Business
2023
Second
Quarter
2024
Second
Quarter
% Change
YoY
Net Revenues ($)
22,232,003
35,598,124
60
Gross Profits ($)
3,425,147
12,912,293
276
Gross Margin
15.4
%
36.3
%
–
Net (Loss) Income ($)
(1,126,224)
7,892,641
–
Net Revenues from Battery Business on
Applications ($)
Electric Vehicles
135,731
199,258
46
Light Electric Vehicles
1,147,902
1,825,501
59
Residential Energy Supply &
Uninterruptable supplies
20,948,370
33,573,365
60
Total
22,232,003
35,598,124
60
[1] Net revenues consist of the Company’s self-operated battery business and Hitrans, which was acquired in 2021, an independently managed raw materials business.
Cost of revenues was $35.1 million, representing a slightly decrease of 9% from $38.5 million in the same period of 2023. The decrease in the cost of revenues corresponds to the Company’s higher gross profit from the battery business.
Gross profit was $12.7 million, representing an increase of 227% from $3.9 million in the same period of 2023. Gross margin was 26.6%, compared to 9.2% in the same period of 2023.
Total operating expenses were $6.8 million, representing a decrease of 12% from $7.7 million in the same period of 2023.
Research and development expenses was $3.0 million for the three months ended June 30, 2024 and 2023.Sales and marketing expenses were $1.4 million, an increase of 42% from $1.0 million in the same period of 2023.General and administrative expenses were $3.1 million, a slightly decrease of 14% from $3.6 million in the same period of 2023.Recover of doubtful accounts was $0.67 million, compared to a provision of doubtful accounts of $0.13 million in the same period of 2023.
Operating income amounted to $5.9 million, compared to an operating loss of $3.8 million in the same period of 2023.
Finance income, net amounted to $0.7, compared to $0.3 million in the same period of 2023.
Change in fair value of warrants was nil, compared to $0.04 million in the same period of 2023.
Net income attributable to shareholders of CBAK Energy was $6.45 million, compared to net loss attributable to shareholders of CBAK Energy of $2.6 million in the same period of 2023.
Net income attributable to shareholders of CBAK Energy (after deducting the change in fair value of warrants) was $6.45 million, compared to a net loss of $2.7 million in the same period of 2023, mainly due to the strong performance of our battery business.
Basic and diluted income per share were both $0.07, compared to basic and diluted loss per share of $0.03 in 2023.
First Half of 2024 Financial Results
Net revenues[1] were $106.6 million, representing an increase of 26% compared to $84.8 million in the same period of 2023. This increase was primarily attributable to an increase in revenue from the Company’s battery business.
Among these revenues, detailed revenues from our battery business are:
Battery Business
2023
First
Half
2024
First
Half
% Change
YoY
Net Revenues ($)
51,835,386
80,435,993
55
Gross Profits ($)
6,638,505
31,375,815
372
Gross Margin
12.8
%
39.0
%
–
Net (Loss) Income ($)
(1,017,300)
19,575,070
–
Net Revenues from Battery Business on
Applications ($)
Electric Vehicles
1,955,979
679,439
-65
Light Electric Vehicles
3,115,959
3,335,793
7
Residential Energy Supply &
Uninterruptable supplies
46,763,448
76,420,761
63
Total
51,835,386
80,435,993
55
[1] Net revenues consist of the Company’s self-operated battery business and Hitrans, which was acquired in 2021, an independently managed raw materials business.
Cost of revenues was $75.0 million, representing a slightly decrease of 4% from $78.0 million in the same period of 2023. The increase in the cost of revenues corresponds to the Company’s higher gross profit from the battery business.
Gross profit was $31.5 million, representing an increase of 22% from $6.8 million in the same period of 2023. Gross margin was 29.5%, compared to 8.0% in the same period of 2023.
Total operating expenses were $15.3 million, representing an increase of 14% from $13.4 million in the same period of 2023.
Research and development expenses were $5.8 million, an increase of 6% from $5.4 million in the same period of 2023.Sales and marketing expenses were $3.1 million, an increase of 8.4% from $1.7 million in the same period of 2023.General and administrative expenses were $7.2 million, an increase of 19% from $6.1 million in the same period of 2023.Recover of doubtful accounts was $0.8 million, compared to a provision of doubtful accounts of $0.26 million in the same period of 2023.
Operating income amounted to $16.2 million, compared to an operating loss of $6.7 million in the same period of 2023.
Finance income, net amounted to $0.7, compared to $0.3 million in the same period of 2023.
Change in fair value of warrants was nil, compared to $0.12 million in the same period of 2023.
Net income attributable to shareholders of CBAK Energy was $16.3 million, compared to net loss attributable to shareholders of CBAK Energy of $4.0 million in the same period of 2023.
Net income attributable to shareholders of CBAK Energy (after deducting the change in fair value of warrants) was $16.3 million, compared to a net loss of $4.1 million in the same period of 2023, mainly due to the strong performance of our battery business.
Basic and diluted income per share were both $0.18, compared to basic and diluted loss per share of $0.05 in 2023.
Conference Call
CBAK Energy’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on Friday, August 9, 2024 (8:00 PM Beijing/Hong Kong Time on August 9, 2024).
For participants who wish to join our call online, please visit:
https://edge.media-server.com/mmc/p/etm9tt44
Participants who plan to ask questions during the call will need to register at least 15 minutes prior to the scheduled call start time using the link provided below. Upon registration, participants will receive the conference call access information, including dial-in numbers, a unique pin, and an email with detailed instructions.
Participant Online Registration:
https://register.vevent.com/register/BI88cb5143d85b4257ac2ba1e1f0e4d8e2
Once completing the registration, please dial-in at least 10 minutes before the scheduled start time of the conference call and enter the personal pin as instructed to connect to the call.
A replay of the conference call may be accessed within seven days after the conclusion of the live call at the following website: https://edge.media-server.com/mmc/p/etm9tt44
The earnings release and the link for the replay are available at ir.cbak.com.cn.
About CBAK Energy
CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium and sodium batteries, as well as the production of raw materials for use in manufacturing high power lithium batteries. The applications of the Company’s products and solutions include electric vehicles, light electric vehicles, energy storage and other high-power applications. In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in Dalian, Nanjing, Shaoxing and Shangqiu, as well as a large-scale R&D and production base in Dalian.
For more information, please visit ir.cbak.com.cn.
Safe Harbor Statement
This press release contains “forward-looking statements” that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “should,” or “will” or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements.
Any forward-looking statements contained in this press release are only estimates or predictions of future events based on information currently available to our management and management’s current beliefs about the potential outcome of future events. Whether these future events will occur as management anticipates, whether we will achieve our business objectives, and whether our revenues, operating results, or financial condition will improve in future periods are subject to numerous risks. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: significant legal and operational risks associated with having substantially all of our business operations in China, that the Chinese government may exercise significant oversight and discretion over the conduct of our business and may intervene in or influence our operations at any time, which could result in a material change in our operations and/or the value of our securities or could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and could cause the value of such securities to significantly decline or be worthless, the effects of the global Covid-19 pandemic or other health epidemics, changes in domestic and foreign laws, regulations and taxes, the volatility of the securities markets; and other risks including, but not limited to, the ability of the Company to meet its contractual obligations, the uncertain markets for the Company’s products and business, macroeconomic, technological, regulatory, or other factors affecting the profitability of our products and solutions that we discussed or referred to in the Company’s disclosure documents filed with the U.S. Securities and Exchange Commission (the “SEC”) available on the SEC’s website at www.sec.gov, including the Company’s most recent Annual Report on Form 10-K as well as in our other reports filed or furnished from time to time with the SEC. You should read these factors and the other cautionary statements made in this press release. If one or more of these factors materialize, or if any underlying assumptions prove incorrect, our actual results, performance or achievements may vary materially from any future results, performance or achievements expressed or implied by these forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.
For further inquiries, please contact:
In China:
CBAK Energy Technology, Inc.
Investor Relations Department
Phone: +86-18675423231
Email: ir@cbak.com.cn
CBAK Energy Technology, Inc. and Subsidiaries
Condensed consolidated Balance Sheets
As of December 31, 2023 and June 30, 2024
(Unaudited)
(In US$ except for number of shares)
December 31,
2023
June 30,
2024
(Unaudited)
Assets
Current assets
Cash and cash equivalents
$
4,643,267
$
9,709,059
Pledged deposits
54,179,549
10,418,508
Short-term deposits
–
34,342,812
Trade and bills receivable, net
28,653,047
32,710,720
Inventories
33,413,422
31,226,831
Prepayments and other receivables
7,459,254
5,017,982
Receivables from a former subsidiary, net
74,946
12,620
Total current assets
128,423,485
123,438,532
Property, plant and equipment, net
91,628,832
86,966,492
Construction in progress
37,797,862
36,086,788
Long-term investments, net
2,565,005
2,256,386
Prepaid land use rights
11,712,704
11,281,490
Intangible assets, net
841,360
599,350
Deposit paid for acquisition of long-term investments
7,101,492
15,934,172
Operating lease right-of-use assets, net
1,084,520
3,053,819
Total assets
$
281,155,260
$
279,617,029
Liabilities
Current liabilities
Trade and bills payable
$
82,429,575
$
71,644,150
Short-term bank borrowings
32,587,676
35,077,469
Other short-term loans
339,552
338,623
Accrued expenses and other payables
41,992,540
33,431,784
Payables to a former subsidiary, net
411,111
418,499
Deferred government grants, current
375,375
482,714
Product warranty provisions
23,870
17,888
Operating lease liability, current
691,992
994,562
Finance lease liability, current
1,643,864
1,424,535
Income tax payable
–
798,715
Total current liabilities
160,495,555
144,628,939
Deferred government grants, non-current
6,203,488
5,700,353
Product warranty provisions
522,574
434,724
Operating lease liability, non-current
475,302
2,326,064
Total liabilities
167,696,919
153,090,080
Commitments and contingencies
Shareholders’ equity
Common stock $0.001 par value; 500,000,000 authorized; 90,063,396
issued and 89,919,190 outstanding as of December 31, 2023 and
90,083,396 issued and 89,939,190 outstanding as of June 30, 2024
90,063
90,083
Donated shares
14,101,689
14,101,689
Additional paid-in capital
247,465,817
247,674,563
Statutory reserves
1,230,511
1,230,511
Accumulated deficit
(134,395,762)
(118,113,850)
Accumulated other comprehensive loss
(11,601,403)
(14,326,079)
116,890,915
130,656,917
Less: Treasury shares
(4,066,610)
(4,066,610)
Total shareholders’ equity
112,824,305
126,590,307
Non-controlling interests
634,036
(63,358)
Total equity
113,458,341
126,526,949
Total liabilities and shareholder’s equity
$
281,155,260
$
279,617,029
CBAK Energy Technology, Inc. and Subsidiaries
Condensed consolidated Statements of Operations and Comprehensive Income (Loss)
For the three and six months ended June 30, 2023 and 2024
(Unaudited)
(In US$ except for number of shares)
Three months ended
June 30,
Six months ended
June 30,
2023
2024
2023
2024
Net revenues
$
42,420,870
$
47,793,045
$
84,817,571
$
106,615,477
Cost of revenues
(38,536,228)
(35,065,019)
(78,027,185)
(75,106,404)
Gross profit
3,884,642
12,728,026
6,790,386
31,509,073
Operating expenses:
Research and development expenses
(2,980,718)
(2,955,509)
(5,436,046)
(5,771,027)
Sales and marketing expenses
(963,588)
(1,368,373)
(1,684,592)
(3,092,405)
General and administrative expenses
(3,582,893)
(3,129,994)
(6,062,028)
(7,222,521)
Recovery of (provision for) doubtful
accounts
(130,493)
673,330
(261,660)
787,343
Total operating expenses
(7,657,692)
(6,780,546)
(13,444,326)
(15,298,610)
Operating income (loss)
(3,773,050)
5,947,480
(6,653,940)
16,210,463
Finance (expenses) income, net
252,472
688,721
257,783
698,384
Other income, net
238,040
141,975
421,253
509,413
Share of loss of equity investee
–
18,824
–
–
Gain on disposal of equity investee
–
26,912
–
26,912
Change in fair value of warrants
36,000
–
121,000
–
Income before income tax
(3,246,538)
6,823,912
(5,853,904)
17,445,172
Income tax credit (expenses)
307,311
(800,727)
710,195
(1,849,513)
Net income (loss)
(2,939,227)
6,023,185
(5,143,709)
$
15,595,659
Less: Net (income) loss attributable
to non-controlling interest
304,237
422,277
1,128,364
686,253
Net income (loss) attributable to
CBAK Energy Technology, Inc.
$
(2,634,990)
$
6,445,462
$
(4,015,345)
$
16,281,912
Net income (loss)
(2,939,227)
6,023,185
(5,143,709)
15,595,659
Other comprehensive loss
– Foreign currency translation
adjustment
(6,639,109)
(829,769)
(5,890,330)
(2,735,817)
Comprehensive (loss) income
(9,578,336)
5,193,416
(11,034,039)
12,859,842
Less: Comprehensive (loss) income
attributable to non-controlling
interest
643,620
423,171
1,373,641
697,394
Comprehensive (loss) income
attributable to CBAK Energy
Technology, Inc.
$
(8,934,716)
$
5,616,587
$
(9,660,398)
$
13,557,236
Income (loss) per share
– Basic
$
(0.03)*
$
0.07
$
(0.05)
$
0.18
– Diluted
$
(0.03)*
$
0.07
$
(0.05)
$
0.18
Weighted average number of shares of common stock:
– Basic
89,029,399
89,931,617
89,021,424
89,931,727
– Diluted
89,029,399
90,111,613
89,021,424
90,289,544
View original content:https://www.prnewswire.com/news-releases/cbak-energy-reports-second-quarter-and-first-half-2024-unaudited-financial-results-302218678.html
SOURCE CBAK Energy Technology, Inc.
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BTQ Technologies’ QSSN Selected as Core Security Infrastructure for South Korea’s First Bank-Led KRW Stablecoin Proof-of-Concept
Published
13 hours agoon
May 6, 2026By
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.
Technology
Zimmer Biomet to Present at the BofA Securities 2026 Health Care Conference
Published
13 hours agoon
May 6, 2026By
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
View original content to download multimedia:https://www.prnewswire.com/news-releases/zimmer-biomet-to-present-at-the-bofa-securities-2026-health-care-conference-302763299.html
SOURCE Zimmer Biomet Holdings, Inc.
Technology
NextLadder Ventures Announces Co-Founder Leadership Team, Investment Focus Areas For Over $1 Billion Initiative Empowering Americans with Personalized, Tech-Enabled Support Tools
Published
13 hours agoon
May 6, 2026By
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.
SOURCE NextLadder Ventures
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