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Taiwan Cement Corp. (TCC) held its 2022 annual general meeting, in which Chairman Nelson Chang delivered a speech and shared business updates

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TAIPEI, May 26, 2022 /PRNewswire/ — Taiwan Cement Corp. (TCC) held its 2022 annual general meeting, in which Chairman Nelson Chang delivered a speech, and TCC shared its 1Q22 results as below:

Chairman Nelson Chang’s Speech

In the past half a year or so, it seems foreboding dark clouds are surrounding the world, such as the fast-spreading COVID-19 variants in Asia, and the interruption of worldwide commodity supply chains. These have all led up to uncertainty, pessimism, and anxiety about the future. It is also the most difficult year for Taiwan Cement for the past ten years. Granted all is true, we remain positive that every cloud has a silver lining if we position ourselves in just the right direction. A beam of light always comes out from behind the clouds. However tiny it may be, it gives us hope that we shall remain undaunted so as to embrace a promising future.  

Living in the 21st century, we are unsure of where to go from here and what can be made sure in this world. The risks are no less great than those of the Age of Exploration in the 15th century, notwithstanding the greater knowledge we have gained about the world today.

The totally inexcusable war has caused the ensuing scarcity in both resources and energy. The worldwide break-out of a virus has caused millions of unexpected deaths as well as increased wastes, especially of plastics to an alarming ubiquity. The sudden shortage of energy has also worsened the emissions of carbon-dioxide to make the Earth even warmer. All these issues are posing grave threats to the future existence of Humankind.     

In fact, the reason Humankind has strayed today lies entirely in ourselves. Only when self-examination is in place to allow a fundamental conceptual change in conduct can we afford to claim that we are underway to explore a real answer.

The sense of co-existence in our age should be awakened and evoked on a full scale of the Planet Earth. We must be upfront with the pandemic, weather change and a more idealistic society. Each of us will require a cognitive restructuring in our thinking. It can no longer be “I,” but “WE.” To familiarize ourselves with the capitalized “WE” is an indispensable step to a sustainable future of mankind. But unfortunately, at the annual meeting of the World Economic Forum in Davos this year, it seems to be going backwards and moving towards a regional economy, an economic model where every country comes first. We cannot continue to contemplate living a life solely for our time and selfishness. Most wars took place for individual rights or self-interests of politicians per se. Only a minimum of warfare was fought genuinely for such lofty causes as freedom and human life.

The Great Leap of the next generation will beyond doubt be motivated by continuous revolutions. It will no longer be technology-driven cognitive change but a restructured mental framework for sustainability.

Dante wrote, “The hottest places in hell are reserved for those who, in a period of moral crisis, maintain their neutrality.”

Lastly but not least, may I remind you ladies and gentlemen, “Today is the beginning of eternity.”

TCC: Silver Lining

In 1Q22, TCC saw cement revenue in Mainland China decreased by 7.8% year-on-year. Sales volume for the same period also decreased by 24.1% year-on-year. Despite the cement price increase by 18%, it could not catch up with the price hike of coal, especially in 1Q22, when international coal price grew by 195% year-on-year. This price increase in coal caused TCC to see a drop both in gross margin and net profits.

Nevertheless, TCC’s 1Q22 consolidated revenue was NT$22.97 billion, representing a 4% increase compared to NT$22.03 billion in 1Q21. This growth was mainly attributed to the new energy businesses. Cement revenues in 1Q22 dropped by 3% year-on-year, but new subsidiaries in the energy segment such as, NHΩA, E-One Moli, and TCC Energy Storage contributed positively to TCC’s consolidated revenue.

TCC has transitioned into a circular economy company. As cement markets begin to shrink from their peak, waste treatment has become the focus of business operation. This transition not only helps solve society’s waste problem but also increases profits. In the future, TCC’s target is to become one of the growth tech stocks. For growth tech stocks around the world, cash dividend payout ratio has not been the main reason for market capitalization growth.

In the past two years, TCC has been redeploying two-thirds of its profits into ESG-related projects, such as building waste treatment facilities in Taiwan and Mainland China, investing in green energy projects, and buying the majority stake in the Italy-based energy storage company NHΩA. These steps are part of a comprehensive strategy to help TCC Group to achieve carbon neutrality. For example, TCC’s total renewable energy generated by 2025 is actually sufficient for the Company to achieve RE100 but, TCC’s renewable energy are still provided mainly to meet the demand of Taiwan’s companies that focus on exporting products.  

As a circular economy company, its waste treatment capacity has been increasing, together with alternative material and fuel usage. Using cement kilns’ high temperature to co-process wastes can help the society solve its waste problem. It can also generate alternative material and fuel to help increase cement production once stricter energy and coal controls, such as the situation in Mainland China in 4Q21. Moreover, it can help reduce carbon emissions, generate carbon rights, and reduce cost and reliance on coal. Currently, the cost of alternative fuel is only 1/3 to 1/2 of the cost of coal. By 2030, the total waste treatment volume by TCC may rise up to 10 million tons while alternative fuel usage can exceed 1.3 million tons. This is equivalent to reducing carbon emissions by more than 10 million tons. CIMPOR and OYAK, TCC overseas-invested cement companies, have also been using large amounts of alternative fuel.

As energy business is concerned, TCC foresees a possible supply shortage of industrial green energy in Taiwan. The green energy installations scheduled by the government for 2025 and 2030 are 27Gw and 45GW, respectively. To have green energy used at full capacity and efficiency, TCC believes that there must be at least 20% of energy storage complementary to green energy. This means that at least 5GW and 9GW of energy storage are needed in 2025 and 2030. TCC’s total green energy installation is estimated to exceed 500MW by 2025 and is also building, scheduling, and planning many energy storage projects.

TCC’s global energy storage installation is expected to exceed 400MWh by the end of 2022. By 2024, the figure is estimated to exceed 2,900MWh. NHΩA, the Italy-based TCC subsidiary, has been rapidly expanding global energy storage presence with projects completed or under planning, spanning across a total of 26 countries. Free2Move eSolutions, an business line of NHΩA, has also built the world’s largest vehicle-to-grid (V2G) site with a capacity of 30MW and, when the grid needs electricity, the site can have up to 600 EVs connected to provide electricity back to the grid. NHΩA’s other business line, Atlante Co., has been swiftly expanding businesses in Southern Europe with the aim to become the largest virtual independent power producer (IPP).

Energy storage requires batteries and that is why TCC believes the key to the future of energy is batteries. Molie Quantum Energy, a TCC subsidiary, has been building a 1.8GWh super battery factory in Xiaogang, Taiwan since October 25, 2021, and it is scheduled to begin production in 1Q23. Combining the current 1.6GWh battery capacity of E-One Moli, by 2024, TCC’s total battery capacity will reach 3.3GWh, around 216 million units per year. The price of batteries is also expected to increase to US$5 per unit in 2024.

In addition to maintaining existing business and expanding to new energy businesses, TCC also has a responsibility to its current and future shareholders. The Company has been taking initiatives to revitalize its land assets, namely the properties in Taiwan and Mainland China. In Taiwan, the Zhudong property is aimed at becoming a lifestyle theme park while the property at Keelung Road, Taipei is aimed to be an “Urban Green Eco-Valley“. In Mainland China, an iconic building is under construction in the name of “TCC Gong Liang Building in Hangzhou“, which is scheduled to be completed in 2024 and will be TCC’s headquarters in Mainland China.

TCC firmly believes that an enterprise should be responsible for its current and future shareholders, but cannot solely focus on current profits. The most important responsibility lies in its positive contribution to the society and the Earth. We have inherited this planet from our ancestors. Therefore, we need to prove to the future generations that the decisions we are making right now is the correct one.

For the next decade, low-carbon cement, resource circulation and green energy are the three pillars for TCC’s sustainable growth.

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Sungrow Strengthens Australian Market Presence with 1.7GWh of C&I Energy Storage Partnerships with Raystech and Solar Juice

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November 22, 2024

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SYDNEY, Nov. 22, 2024 /PRNewswire/ — Sungrow, the global leading PV inverter and energy storage system provider, has announced the signing of major distribution agreements with Raystech Group and Solar Juice Group. Under these agreements, Raystech Group (1GWh) and Solar Juice Group (700MWh) will distribute a combined total of 1.7 GWh of Sungrow’s C&I energy storage systems over the next three years. These agreements mark a significant step in Sungrow’s commitment to supporting Australia’s clean energy transition through key partnerships in the commercial and industrial (C&I) sector.

Sungrow hosted two significant signing ceremonies on November 18th and 19th, attended by Mr. Renxian Cao, Chairman of Sungrow, Mr. Mark Miao, CEO of Raystech Group, Mr. Rami Fedda, Co-Founder and Supply Director of Solar Juice Group, and Joe Zhou, Country Director of Sungrow Australia, alongside key industry leaders and stakeholders.

Raystech Group will leverage its technical expertise and robust logistics capabilities to ensure flexible and timely deployment of Sungrow’s energy storage systems. The agreement will also support Raystech’s plans to enhance C&I project capabilities. At the signing ceremony, Mark Miao, CEO of Raystech Group, stated: “Raystech has strengthened its partnership with Sungrow, not only on residential inverters and batteries but now expanded to commercial projects. Following a C&I market discussion with Professor Renxian, Raystech is committed to advancing innovation in the sector. With a strong nationwide network and commanding market share, the partnership aims to deliver cutting-edge battery solutions for the commercial market, driving sustainable growth across Australia and New Zealand.”

Solar Juice Group will continue to focus on customized solutions for small and medium-sized C&I clients, backed by its strong network and customer satisfaction commitment. Rami Fedda, Co-Founder and Supply Director of Solar Juice said: “Sungrow has been a key supplier over the past three years for both residential inverters and batteries. Solar Juice has always held a significant market share in distributing commercial inverters for Australia’s C&I Rooftop market, with the majority in recent times being Sungrow products. It made perfect sense for Solar Juice to also offer Sungrow’s commercial battery storage solutions. This will further strengthen our relationship and drive more volume.”

Renxian Cao, Chairman of Sungrow, stated at the event, “The C&I storage market in Australia is set for significant growth in the upcoming future, driven by the country’s strong commitment to renewable energy and a sustainable future. Sungrow is dedicated to supporting Australia’s energy transition in partnership with Raystech and Solar Juice. Our tailored solutions are designed to meet the specific needs of the Australian market, and we will keep providing technical expertise, local support, and exceptional service to accelerate Australia’s shift to renewable energy.”

These three-year agreements, totaling 1.7 GWh, mark a major milestone in the growth of Australia’s C&I energy storage market. With 27 years of experience from Sungrow and the market expertise of Raystech and Solar Juice, this partnership is poised to drive significant progress in Australia’s renewable energy sector. As Australia works towards its climate goals and a greener future, the demand for reliable energy storage solutions will continue to rise, positioning this partnership as a vital driver for a sustainable energy landscape.

About Raystech

Raystech is an international brand in leading renewable energy wholesale distribution with a footprint all across Australia and New Zealand. In Australia and New Zealand, self-operated sales offices and widest warehouses across Australia and distribution centers in major cities provide a comprehensive solar solution to their clients. Raystech shares synergy with their clients and suppliers aimed to become an industry-preferred renewable energy wholesale distributor in a customer-centric business model.

About Solar Juice

Solar Juice established 2009, is an Australian company that is a wholesale distributor of Quality Complete Solar Systems – Solar PV Panels, Solar Inverters, Battery Storage, Mounting systems and Balance of Systems. We supply a national network of customers that are located in every state and territory of Australia.

About Sungrow

Sungrow, a global leader in renewable energy technology, has pioneered sustainable power solutions for over 27 years. As of June 2024, Sungrow has installed 605 GW of power electronic converters worldwide. The Company is recognized as the world’s No. 1 on PV inverter shipments (S&P Global Commodity Insights) and the most bankable Asian energy storage company (BloombergNEF). Its innovations power clean energy projects in over 170 countries, supported by a network of 490 service outlets guaranteeing excellent customer experience. At Sungrow, we’re committed to bridging to a sustainable future through cutting-edge technology and unparalleled service. For more information, please visit www.sungrowpower.com.

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Celebrating Milestones: TMA Solutions Marks 27 Years of Excellence with Expanded Global Reach

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November 22, 2024

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HO CHI MINH CITY, Vietnam, Nov. 21, 2024 /PRNewswire/ — TMA Solutions recently celebrated its 27th anniversary, a testament to its role as a pioneering force in Vietnam’s software industry. With a workforce of nearly 4,000 engineers and a diverse client base spanning 30 countries, TMA reflects on its journey while setting ambitious goals for the future. The company has grown from a local software outsourcing firm into a trusted global partner, providing cutting-edge solutions in AI, IoT, and Fintech.

Criteria for choosing an innovative and reliable software partner

Proven track records

When selecting an innovative software partner, one of the first aspects to consider is their proven track record. This includes evaluating the company’s profile and reputation within the industry, which can provide insights into their reliability and credibility. The number of years the company has been in the software industry is another critical indicator of their experience and long-term stability. Additionally, reviewing relevant case studies can give you a clear understanding of the partner’s ability to deliver successful projects that align with your business goals.

Engineering talents

The strength of a software partner’s engineering talents is a key factor in their ability to deliver on your project’s demands. Assessing the number of engineers in their team provides a sense of their capacity to handle complex and large-scale projects. Beyond quantity, it’s essential to evaluate the skills and expertise of their engineers. A diverse team with specialized knowledge in various technologies ensures that the partner can provide innovative and technically sound solutions tailored to your needs. Additionally, their ability to ramp up resources quickly when required is crucial for keeping the project on track and responsive to evolving requirements.

Pricing

Pricing is a critical consideration when choosing a software partner. It’s important to understand the different pricing models they offer, such as fixed-price, time-and-materials, or dedicated teams, and how these models align with your budget and project requirements. Moreover, considering the overall costs, including any hidden fees, will help you make a more informed decision.

Technical expertise

The technical expertise of a software partner is paramount to the success of your project. Evaluating their domain knowledge helps ensure that the partner understands the specific challenges and requirements of your industry. Additionally, assessing their proficiency in the relevant technology stack is vital. A partner who is well-versed in modern technologies and tools will be better equipped to deliver innovative and effective solutions that meet your business needs.

R&D and innovation capabilities

A software partner with strong R&D and innovation capabilities is more likely to bring fresh ideas and cutting-edge solutions to your projects. This capability indicates the partner’s commitment to staying ahead of industry trends and continuously improving their offerings. Engaging with a partner who prioritizes innovation can provide your business with a competitive edge in the market.

Available solutions

It’s important to assess the range of solutions that a software partner offers. A partner with a diverse portfolio, including custom software development, system integration, and product engineering, can provide comprehensive services that meet your various business needs. Having access to a wide array of solutions ensures that the partner can adapt to your evolving requirements and support your business growth.

Quality processes

Quality assurance processes are critical to ensuring the reliability and performance of the software delivered by your partner. Evaluating their approach to software testing, bug tracking, and continuous improvement will give you confidence in their ability to maintain high standards throughout the development process. A partner with robust quality processes will consistently deliver high-performing software that meets or exceeds your expectations.

Security practices

Security is a fundamental aspect of any software partnership, particularly when dealing with sensitive data and critical business operations. Assessing the partner’s security practices, including physical security measures to protect their development environment, network security protocols to prevent unauthorized access, and data security practices such as encryption and compliance with regulations like GDPR or HIPAA, is essential. A partner with strong security practices will help safeguard your business against potential threats and ensure the integrity of your software solutions.

Why TMA is your innovative and reliable software partner

TMA Solutions is one of the top leading software outsourcing companies in Vietnam, trusted by global companies. With more than 27 years of experience and nearly 4,000 engineers, TMA provides industry-specific solutions across automotive, telecom, healthcare, finance, and more. Our 10 specialized R&D centers, covering fields like AI, IoT, Fintech, and 5G, allow us to deliver advanced, quality-driven services that meet complex business needs. With international certifications and a commitment to continuous improvement, TMA Solutions provides reliable, high-quality support to help businesses meet their technology goals and drive sustainable growth.

Intensive R&D capabilities

With a remarkable 27 years of experience in software development, our company has intensive capabilities across a wide range of industries and technologies. We can support end-to-end services from product and project planning, technology roadmap to technical solution, architectural design, business analysis, UX/UI design, development and testing, porting and migration, etc. We have invested heavily in many technologies and R&D centers, each focused on key areas of modern technology, including Telecom Software, Data Solution, AI, IoT, Automotive Software Fintech, Healthtech, Hardware, Robotics Software, 5G, etc. These centers ensure we can maintain strong technical capability in order to deliver cutting-edge solutions to clients worldwide.

Innovation as a Service

After many years working with leading companies, TMA Solutions can offer Innovation as a Service, from technical feasibility study, prototype and proof-of-concept development, R&D, technical solution, digital and AI transformation roadmap that helps businesses transforming innovative ideas into reality and stay ahead in today’s rapidly evolving technology landscape. Whether you’re exploring new solutions, developing prototypes, or crafting a comprehensive technology roadmap, our experienced team ensures that your ideas are tested, refined, and implemented efficiently. With TMA, you gain a reliable partner dedicated to accelerating your innovation strategy and achieving your business goals.

4,000 engineers and a strong brand name to attract talent

Our team of 4,000 highly skilled engineers is our greatest asset. As a pioneer in Vietnam software industry, we have established a strong brand name helping us attracting talents from top universities in Vietnam and overseas. This large and diverse team allows us to take on complex projects, scale our services to meet client demands, and deliver innovative solutions across various technology stacks. Our commitment to attracting and retaining the best talent ensures that we remain at the forefront of the software development industry.

Clients from 30 countries

We have a diverse client base that spans 30 countries including USA, Canada, Europe, Australia, New Zealand, Japan, Korea, Singapore, Hong Kong, etc. This international experience has equipped us with the ability to understand and navigate different markets, cultures, and business environments. Our global reach allows us to offer tailored solutions that meet the unique needs of clients in various regions, ensuring that we can provide the best possible service no matter where our clients are located.

Experience in large and complex projects

We have a proven track record of successfully managing and delivering large-scale projects that requires hundreds of engineers and strong technical expertise. Our experience in handling complex, multi-faceted projects has equipped us with the skills and processes needed to ensure that every aspect of a project is executed flawlessly. Whether it’s a large enterprise system, a nationwide rollout, or a high-stakes development project, we have the experience and expertise to deliver results that meet and exceed expectations.

A wide range of technologies

Our 4,000 engineers can support a wide range of technologies, allowing us to provide cutting-edge solutions to our clients, from legacy systems to latest technologies. This broad technical expertise ensures that we can select the best tools and platforms for each project, providing solutions that are not only effective but also future-proof.

Available Solutions

TMA Solutions offers a wide range of innovative software solutions for various industries. Leveraging latest technologies such as AI/ML, RPA, IoT, 5G, blockchain, TMA Solutions has built hundreds of solutions for healthcare, finance, telecom, automotive, logistics, retail, manufacturing, etc.

These pre-built solutions are designed to integrate seamlessly into existing systems, significantly reducing development time and enabling businesses to achieve rapid market entry. By offering these customizable, industry-specific solutions, TMA ensures that companies can quickly adapt to changing demands, optimize their operations, and maintain a competitive edge in a constantly dynamic environment. 

Strong quality foundation

We have established quality foundation, supported by industry best practices, rigorous testing processes, and a commitment to continuous improvement. Aligned with industry practices and standards (CMMi, Agile, ISO 9001, TL9000, ISO 27001), we can meet stringent requirements from leading companies and maintain the growth rate in the last 27 years.

Choosing TMA as your software partner means gaining access to a wealth of experience, expertise, and innovation that will drive your business forward.

Website: www.tmasolutions.com
Business enquiry: sales@tmasolutions.com 
United States & Canada: +1 844 224 4188 / +1 802 735 1392 (Mr. Minh Nguyen)
Europe: +33 7 44 77 49 24 (Mr. Jordan Baumgartner)
Vietnam: +84 28 3995 1060 (Ms. Phuong Tran) / +84 28 3990 2680 (Mr. Andy Pham)
Singapore: +84 946 177 624 (Mr. Cuong Bui)
Australia: +61 411 276 342 (Mr. Huy Ly)
Japan: +81 50 5490 9867 (Mr. Yasuhisa Yoneda)

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DIRECTV Announces Termination of Agreement to Acquire EchoStar’s Video Distribution Business

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November 22, 2024

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Termination Follows Rejection by DISH DBS Noteholders of EchoStar Debt Exchange Offer Terms

DIRECTV to Continue Executing Strategy to Deliver Future of Pay TV to Consumers

EL SEGUNDO, Calif., Nov. 21, 2024 /PRNewswire/ — DIRECTV (the “Company”) today announced that it has notified EchoStar of its election to terminate, effective as of 11:59 p.m., ET on Friday, November 22nd, 2024, the Equity Purchase Agreement (EPA) pursuant to which it had agreed to acquire EchoStar’s video distribution business, DISH DBS (“DISH”). The termination of the Agreement follows DISH DBS noteholders’ failure to agree to the proposed Exchange Debt Offer Terms issued by EchoStar, which was a condition of DIRECTV’s obligations to acquire DISH under the EPA.    

“While we believed a combination of DIRECTV and DISH would have benefitted all stakeholders, we have terminated the transaction because the proposed Exchange Terms were necessary to protect DIRECTV’s balance sheet and our operational flexibility,” said Bill Morrow, CEO of DIRECTV. “DIRECTV will advance our mission to aggregate, curate, and distribute content tailored to customers’ interests by pursuing innovative products and providing customers with additional choice, flexibility, and control. We are well positioned for the future with a strong balance sheet and support from our long-term partner TPG.”

DIRECTV will continue to invest in next-generation streaming platforms and revolutionize the industry through new packaging options while integrating content from live TV alongside direct-to-consumer services.

The termination of the DISH acquisition does not affect TPG’s acquisition of the remaining 70% stake in DIRECTV from AT&T, which is expected to close in the second half of 2025.

About DIRECTV

As a leader in sports and entertainment for 30 years, DIRECTV provides industry-leading content and an amazing user experience with or without a satellite. By reimagining what is possible, DIRECTV’s mission is to aggregate, curate and deliver exceptional, innovative service tailored to customers’ interests. In 2023, DIRECTV elevated the customer experience by delivering Gemini, which can integrate customers’ content from their third-party streaming services onto a single one-stop, digital experience. At DIRECTV, the sports season never ends, and customers are treated to broadcasts of several major sports, including the NFL, MLB, NBA, NHL, and multiple domestic and international soccer leagues. DIRECTV provides customers the choice of watching sports, movies, and TV shows on their TVs at home or their favorite mobile devices via the DIRECTV app.

Contacts

Investor Contact:
investors@directv.com

Media Contact:
media@directv.com

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