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Planet Image International Limited Reports the First Half of Fiscal Year 2024 Unaudited Financial Results

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XINYU, China, Sept. 13, 2024 /PRNewswire/ — Planet Image International Limited (“Planet Image,” the “Company,” “we,” “our,” or “us”) (Nasdaq: YIBO), an export-oriented manufacturer and seller of compatible toner cartridges based in China, the U.S. and Europe, today announced its unaudited financial results for the six months ended June 30, 2024.

First Half 2024 Financial Highlights

Total revenues in the first half of 2024 were US$77.3 million, representing an increase of 4.1% from US$74.2 million in the same period of 2023.Gross profit in the first half of 2024 was US$28.2 million with a gross profit margin of 36.5%, compared to US$31.3 million with a gross profit margin of 42.2% in the same period of 2023.Income from operations in the first half of 2024 was US$5.8 million, representing a decrease of 40.8% from US$9.8 million in the same period of 2023.Net income in the first half of 2024 was US$4.3 million, representing an increase of 7.6% from US$4.0 million in the same period of 2023.

Management Commentary

Shaofang Weng, Chief Executive Officer of the Company, commented, “We are pleased to report a 4.1% growth in total revenues to US$77.3 million for the first half of 2024 and a 7.6% increase in net income compared to the same period last year. This growth was primarily driven by a 15.1% increase in offline sales to dealers, which reflects our success in supporting dealers with online sales operations through enhanced warehousing, logistics, and IT systems. North America remained a key market, contributing 61% of our total revenues, with a 3.8% year-over-year increase, fueled by our ability to attract more local dealers with preferential pricing. Additionally, our market expansion in China and Brazil led to a 76.7% increase in revenue from other markets, now representing 5% of our total revenues. Our flexible strategies have enabled us to maintain a competitive edge amid challenging economic conditions in Europe and the US. Looking ahead, we will continue to explore strategic opportunities to optimize production, expand product offerings, and strengthen our sales channels globally.”

First Half 2024 Financial Results

Revenues

Total revenues increased by 4.1% to US$77.3 million for the first half of 2024 from US$74.2 million for the same period of 2023. The increase in total revenues was mainly due to an increase in revenues from our offline sales to dealers and online sales to retail customers, partially offset by the decrease in our offline sales to original design manufacturing (“ODM”) customers.

Comparison by Sales Channel

The following table sets forth our revenue by sales channel for the periods indicated.

For the six months ended
June 30,

Change

2023

2024

Amount

%

Offline sales to dealers

$

39,689

$

45,668

$

5,979

15.1 %

Offline sales to ODM customers

29,042

25,711

(3,331)

(11.5) %

Online sales to retail customers

5,474

5,885

411

7.5 %

$

74,205

$

77,264

$

3,059

4.1 %

Revenue from offline sales to dealers increased by 15.1% from US$39.7 million for the first half of 2023 to US$45.7 million for the same period of 2024, mainly because we continuously expanded our local sales to dealers with online sales operations, utilized our warehousing, logistics and IT system and obtained more orders from dealers. Along with our dealers’ expansion in their online sales business, we achieved significant growth in sales of products to dealers.

Revenue from offline sales to ODM customers decreased by 11.5% from US$29.0 million for the first half of 2023 to US$25.7 million for the same period of 2024, which was primarily attributable to less sale orders from some customers having concerns over longer transportation turnover due to limited ocean freight capacity under unfavorable political environment.

Revenue from online sales increased by 7.5% from US$5.5 million for the first half of 2023 to US$5.9 million for the same period of 2024, which was primarily due to more new household supply products, such as electric appliances and articles for daily use, being sold through online channels. Such products were manufactured by third parties and procured by the Company for resale in the U.S. and European markets.

Comparison by Area

The majority of our revenue for the six months ended June 30, 2023 and 2024 was generated from North America and Europe. The following table sets forth the disaggregation of revenue by area:

For the six months ended 
June 30,

Change

2023

2024

Amount

%

(in thousands of US$)

North America

$

45,779

$

47,503

$

1,724

3.8

%

Europe

26,251

25,918

(333)

(1.3)

%

Others

2,175

3,843

1,668

76.7

%

Total

$

74,205

$

77,264

$

3,059

4.1

%

Revenue generated from North America increased by 3.8% from US$45.8 million for the first half of 2023 to US$47.5 million for the same period of 2024, which was primarily attributable to our market expansion in the U.S. and increased sales by attracting more local dealers with preferential pricing, our well-developed warehousing, logistics and IT system and our advanced products.

Revenue generated from Europe slightly decreased by 1.3% from US$26.3 million for the first half of 2023 to US$25.9 million for the same period of 2024, as we did not significantly reduce the prices of our products compared with other competitors while faced with intense price competition, which resulted in customer attrition in Europe.

Revenue generated from others increased by 76.7% from US$2.2 million for the first half of 2023 to US$3.8 million for the same period of 2024, resulting from our market expansion in China and Brazil.

Cost of Revenues

Cost of revenues increased by 14.3% to US$49.0 million for the first half of 2024 from US$42.9 million for the same period of 2023. This increase was mainly attributable to the increase of material costs, ocean freight costs and tariff under unstable political and economic environment.

Gross Profit

Gross profit decreased to US$28.2 million for the first half of 2024 from US$31.3 million for the same period of 2023. Gross margin was 36.5% in the first half of 2024 compared to 42.2% in the same period of 2023, which was primarily due to (i) a decrease of the average sales price to attract more customers; (ii) an increase of sales of household supply products, such as electric appliances and articles for daily use, with relatively low gross margin; and (iii) an increase of ocean freight costs.

Operating Expenses

Total operating expenses increased by 4.4% to US$22.4 million for the first half of 2024 from US$21.4 million for the same period of 2023.

Selling expenses in the first half of 2024 increased by 8.0% to US$15.8 million from US$14.6 million in the same period of 2023, which was primarily driven by the increase of freight expenses charged by warehouses of online platforms.General and administrative expenses in the first half of 2024 increased by 11.8% to US$3.7 million from US$3.3 million in the same period of 2023, which was primarily driven by the increase in payroll expenses of increased headcounts and more expected credit losses accrued.Research and development expenses in the first half of 2024 decreased by 16.8% to US$3.0 million from US$3.6 million for the same period of 2023, primarily due to less materials consumed in research projects undertaken in the first half of 2024.

Other Income and Expenses

Our other non-operating income increased by 33.7% from US$0.8 million for the first half of 2023 to US$1.0 million for the same period of 2024, which was primarily attributable to more sales of scrap and waste as well as more packing, labeling and other services to offline dealer customers.Fair value loss on derivative instruments was US$1.2 million for the first half of 2024 compared to US$5.5 million for the same period of 2023, primarily due to fluctuations of exchange rate.Interest expenses, net decreased by US$0.6 million from US$0.8 million for the first half of 2023 to US$0.2 million for the same period of 2024, primarily due to a decrease of interest expenses of US$0.4 million because new loan agreements entered into in the first half of 2024 carried a lower interest rate on average compared with those entered into in the same period of 2023, and an increase of interest income of US$0.2 million with increased cash in bank.

Net Income

Net income was US$4.3 million for the first half of 2024, compared to US$4.0 million for the same period of 2023. Net income per share was US$0.08 for the first half of 2024, compared to US$0.09 for the same period of 2023.

Financial Conditions

As of June 30, 2024, the Company had cash and cash equivalents of $53.5 million, compared to $45.1 million as of December 31, 2023. Account receivable, net was $37.4 million as of June 30, 2024, compared to $31.3 million as of December 31, 2023. As of June 30, 2024, the Company had current assets of $129.2 million and current liabilities of $85.0 million, resulting in working capital of $44.2 million, as compared with current assets of $118.6 million, current liabilities of $82.4 million, and working capital of $36.2 million as of December 31, 2023.

Exchange Rate

This announcement contains translations of amounts in Renminbi (“RMB”), Hong Kong Dollar (“HKD”), Great Britain Pounds (“GBP”), Euros (“EUR”) into U.S. dollars (“US$”).

The following table outlines the currency exchange rates that were used in creating the consolidated financial statements, which is derived from company’s own simple exchange rate conversion:

As of

December 31, 2023

June 30, 2024

Period end RMB: USD exchange rate

US$1=RMB7.0800

US$1=7.1276

Period end EUR: USD exchange rate

US$1=EUR0.9009

US$1=0.9259

Period end GBP: USD exchange rate

US$1=GBP0.7874

US$1=0.7874

 

For the six months ended

June 30, 2023

June 30, 2024

Period Average RMB: USD exchange rate

US$1=RMB6.9396

US$1=7.1023

Period Average EUR: USD exchange rate

US$1=EUR0.9245

US$1=0.9223

Period Average GBP: USD exchange rate

US$1=GBP0.8108

US$1=0.7874

Transfer of Mezzanine Equity

On September 30, 2019, the Company issued 10,526,300 ordinary shares to Xinyu High-Tech Investment Co., Ltd. (“Gaoxin” or the “Holder”) in exchange for an RMB100.0 million (approximately US$14.1 million) investment in the Company. The ordinary shares issued to Gaoxin are subject to redemption upon the occurrence of any of the following events (referred to as a “Redemption Event”): (1) the Company fails to successfully complete its initial public offering on either Hong Kong Stock Exchange or Nasdaq Capital Market and New York Stock Exchange before March 31, 2023; (2) its initial public offering price per share is lower than or equal to 1.15 times of the share price paid by Gaoxin; or (3) the shares held by Gaoxin could not trade immediately after completion of the Company’s initial public offering or Gaoxin does not receive the shortest applicable lock-up period for its shares. The date specified in the first Redemption Event was extended for eighteen months to September 30, 2024 through a supplementary agreement entered into between the Company and Gaoxin dated February 18, 2023, without any other modification on the remaining terms. The 10,526,300 ordinary shares were subsequently converted into 10,526,300 Class A ordinary shares of the Company in October 2021.

The Company accounts for these redeemable Class A ordinary shares in accordance with ASC 480 “Distinguishing Liabilities from Equity.” Class A ordinary shares subject to conditional redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control is classified as mezzanine equity.

On January 25, 2024, the Company successfully completed its initial public offering on the Nasdaq Capital Market. As a result, the mezzanine equity was reclassified as equity of the Company.

About Planet Image International Limited

Planet Image is a leading export-oriented manufacturer and seller of compatible toner cartridges based in China, the U.S. and Europe. It primarily develops and manufactures toner cartridges that are compatible with and can be used in a wide range of commonly available models of laser printers from different manufacturers, on a white-label or third-party brand basis or under its self-owned brands. It has a wide international footprint through established sales channels, with products sold to customers in over 48 countries, and sales in the U.S. and Europe representing the majority of its revenue. More information, please visit http://www.yibomk.com/.

Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical fact in this press release are forward-looking statements, including but not limited to, the intent, belief or current expectations of Planet Image and members of its management, as well as the assumptions on which such statements are based. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s annual report on Form 20-F and in its other filings with the U.S. Securities and Exchange Commission.

For more information, please contact:

Investor Relations: 
Sherry Zheng
Weitian Group LLC
Phone: 718-213-7386
Email: shunyu.zheng@weitian-ir.com 

 

 

PLANET IMAGE INTERNATIONAL LIMITED 

CONDENSED CONSOLIDATED BALANCE SHEETS

(Amount in thousands of U.S. dollars, except share and per share data)

As of

December 31,

June 30,

2023

2024

(Unaudited)

Assets

Current assets:

Cash and cash equivalents

$

45,126

$

53,455

Restricted cash

19,040

15,908

Accounts receivable, net

31,302

37,442

Inventories, net

17,451

17,405

Prepaid expenses and other current assets

5,670

5,039

Total current assets

118,589

129,249

Non-current assets:

Property, plant and equipment, net

8,509

8,243

Right-of-use assets

1,874

1,240

Deferred tax assets

1,036

329

Other non-current assets

259

198

Total non-current assets

11,678

10,010

TOTAL ASSETS

$

130,267

$

139,259

 Liabilities, Mezzanine Equity and Shareholders’ Equity

 Current liabilities:

Short-term borrowings

$

26,222

$

30,305

Accounts payable

22,513

26,746

Bank acceptance notes payable

13,279

14,280

Amounts due to related parties, current

260

207

Accrued expenses and other current liabilities

14,707

9,368

Derivative liabilities

2,259

1,569

Operating lease liabilities – current

1,257

915

Taxes payable

1,872

1,653

Total current liabilities

82,369

85,043

Non-current liabilities:

Operating lease liabilities – non-current

683

335

Total non – current liabilities

683

335

TOTAL LIABILITIES

83,052

$

85,378

 Commitments and Contingencies

Mezzanine equity

Redeemable ordinary shares (10,526,300 and nil Class A
shares issued and outstanding at approximately $1.34 per share
as of December 31, 2023 and June 30, 2024, respectively)

14,104

–

Shareholders’ equity

Preferred shares (par value of HK$0.0001 per share;
800,000,000 preferred shares authorized, nil preferred shares
issued and outstanding as of December 31, 2023 and June 30,
2024, respectively)

–

–

Class A ordinary shares (par value of HK$0.0001 per share;
2,000,000,000 Class A ordinary shares authorized, 15,789,500
and 27,565,800 Class A ordinary shares issued and
outstanding as of December 31, 2023 and June 30, 2024,
respectively)

–

1

Class B ordinary shares (par value of HK$0.0001 per share;
1,000,000,000 Class B ordinary shares authorized, 26,315,800
Class B ordinary shares issued and outstanding as of
December 31, 2023 and June 30, 2024, respectively)

1

1

Additional paid-in capital

833

17,411

Statutory reserve

3,193

3,193

Retained earnings

26,024

30,321

Accumulated other comprehensive income

3,060

2,954

Total shareholders’ equity

33,111

53,881

TOTAL LIABILITIES, MEZZANINE EQUITY AND
SHAREHOLDERS’ EQUITY

$

130,267

$

139,259

 

 

PLANET IMAGE INTERNATIONAL LIMITED 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND
COMPREHENSIVE INCOME

(Amount in thousands of U.S. dollars, except share and per share data)

For the six months ended June 30,

2023

2024

Net revenues

$

74,205

$

77,264

Cost of revenues

(42,923)

(49,044)

Gross profit

31,282

28,220

Operating expenses:

Selling expenses

(14,599)

(15,761)

General and administrative expenses

(3,284)

(3,671)

Research and development expenses

(3,565)

(2,966)

Total operating expenses

(21,448)

(22,398)

Income from operations

9,834

5,822

Other income/(expenses):

Other non-operating income, net

754

1,008

Government subsidy

307

149

Fair value loss on derivative instruments

(5,542)

(1,156)

Foreign exchange loss

(481)

(507)

Interest expense, net

(785)

(217)

Total other expenses, net

(5,747)

(723)

Income before income tax expense

4,087

5,099

Income tax expense

(93)

(802)

Net income

3,994

4,297

Other comprehensive income

Foreign currency translation adjustment

670

(106)

Total comprehensive income

$

4,664

$

4,191

Net income per share

Basic and Diluted

$

0.09

$

0.08

Weighted average shares

Basic and Diluted

42,105,300

52,263,976

 

 

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Technology

CES 2025: The Global Stage for Innovation, Connecting the World, Creating the Future

Published

3 hours ago

on

January 11, 2025

By

Where Technology Meets Humanity to Create Extraordinary Possibilities

LAS VEGAS, Jan. 10, 2025 /PRNewswire/ — CES® 2025, the most powerful tech event in the world, welcomed over 141,000 attendees from around the globe. With more than 4500 exhibitors, including 1400 startups, and more than 6000 media attendees, CES highlights the innovation and technology trends addressing global challenges and shaping the future.

“CES is where innovation comes to life,” said Gary Shapiro, CEO and Vice Chair, Consumer Technology Association (CTA)®, owner and producer of CES. “From the largest companies to trailblazing startups, the entire tech ecosystem is at the show. CES is the stage for groundbreaking product launches, transformative partnerships, and serendipitous business moments that define the future of technology.”

CES 2025 by the Numbers*

4500+ exhibitors, including 1400 startups141,000+ attendees, of which 40% were international from over 150 countries, regions, and territories6000+ global media, content creators, and industry analystsOver 60% of Fortune 500 companies300+ conference sessions with 1200+ speakers27,000+ news stories and content

*pre-audit figures

“From groundbreaking innovations that improve lives to transformative ideas that redefine industries, CES is a celebration of the art of the possible, showcasing how technology enriches our world and inspires a brighter future for all,” said Kinsey Fabrizio, President, CTA. “The evolution of CES has surged at this year’s show, where creativity, connectivity, and innovation inspire with visionary keynotes, thought-provoking conference sessions, and mind-blowing exhibits.”

As one of the most transparent trade shows, CES adheres to rigorous auditing standards established by UFI, The Global Association of the Exhibition Industry. To maintain the integrity of its reports, CES engages independent auditors, fostering trust among stakeholders.

“CES reaffirms its status as the largest audited annual business event,” said Fabrizio. “We look forward to releasing third-party confirmation in the spring, because at CTA we believe auditing is not just a nice-to-have, but the gold standard for global business events.” 

Catch all the highlights and announcements from CES 2025 – including all conference programming—via CES YouTube and the CES Tech Talk Podcast. Watch the CES 2025 State of the Industry Address here.

CES 2025 Highlights 

Artificial Intelligence – CES 2025 connected the dots between humanity and AI through powerful exhibits and programming. From AI-driven productivity tools to breakthroughs in medical advancements, products and services on the show floor demonstrated that artificial intelligence is not just a technology trend but a transformative force improving lives worldwide.
Exhibitors included: AMD, Hisense, LG, NVIDIA, Qualcomm, Samsung, Siemens, TCL

Digital Health – This year, CES 2025 saw tremendous energy at the Venetian where attendees witnessed the category’s seamless alignment with the smart living experience. CES has cemented itself as a premier convenor for the healthcare industry, bringing together trailblazers to explore biotechnology, telehealth, and wellness advancements that enhance patient care and longevity. Attendees celebrated the vibrant and dynamic environment that underscored how technology is transforming everyday life, particularly in health and wellness.
Exhibitors & Sponsors included: AARP, Abbott, Eyebot, FlowBeams, Lumia Health, OnMed, Panasonic, ResMed, Withings

Energy Transition – With the growth of high-power demand technologies like AI, cloud, and other data center innovations, the energy transition to zero carbon sources was a significant focus at CES 2025. Experimental energy solutions including battery and energy storage technologies, emerging energy sources like green hydrogen, and small modular nuclear reactors were highlights on the show floor.
Exhibitors included: Eaton, Jackery, Otrera, SK, Sony Honda Mobility

Mobility – Mobility innovation spanned construction, agriculture, marine tech, and advanced air travel. At CES 2025, self-driving and electric technologies enhanced planes and boats, and EV market growth brought new models from global OEMs to the show. Automation in construction and industry enhanced safety and addressed workforce gaps in labor-intensive roles.
Exhibitors included: Aptera Motors, BMW, Bosch, Brunswick, Caterpillar, Daedong, Garmin, Honda, Invo Station, John Deere, Kubota, Mobileye, Oshkosh, Scout Motors, Sumitomo Rubber, Scout Motors, Suzuki, Waymo, Xpeng AeroHT, Zeekr

Quantum – CES 2025 featured the latest innovations in quantum technologies, offering a glimpse into the future. Quantum technology uses properties of quantum mechanics to enable three distinct disciplines: improved networking, computing, and sensing. Innovations at the show demonstrated how quantum computing, working alongside AI, will allow for breakthroughs in research and computing for finance, chemistry, materials, logistics, and more.
Exhibitors included: Integrated Quantum Photonic, IonQ, QSIMPLUS, Quandela, SK

Sustainability – Sustainability is a crucial trend shaping technology innovation, especially in the context of energy transition. CES featured key advancements including new battery technologies, alternative material development like graphene, and off-grid renewable energy solutions. The show also put a spotlight on innovations such as synthetic microbes, bioplastics, and self-healing concrete that will contribute to sustainable construction.
Exhibitors included: Hydrific, Lyten, Melliens, Panasonic

Startups – Eureka Park was completely full, with 1400 startups from 39 countries including country pavilions representing Africa, European Union (EU), France, Italy, Israel, Japan, Korea, Netherlands, Switzerland, and Ukraine. Eureka Park is where innovators, investors, and the media meet to highlight and get hands-on with the technologies that will shape our collective future in core areas including accessibility, AI, digital health, and sustainability.

Keynotes 

NVIDIA
NVIDIA founder and CEO Jensen Huang on Monday drew 6300 attendees to unveil the GeForce RTX 50, surpassing the RTX 4090 in performance, and introduced Agentic AI, a real-time assistant to streamline consumer workflows. Huang also showcased the Cosmos World Foundation Model and generative AI tools to advance robotics navigation. Highlighting AI-driven innovation, Huang announced a partnership with Toyota to develop next-gen autonomous vehicles using the safety-certified NVIDIA DriveOS. 

Panasonic Holdings Corporation
Panasonic Holdings Group CEO Yuki Kusumi shared Panasonic Group’s vision for sustainability, artificial intelligence, and the health of future generations. DJ and record producer Steve Aoki jump-started the keynote with a performance before Mr. Kusumi, joined on stage by Marvel actor Anthony Mackie and other Panasonic Group leaders, delivered Panasonic’s “Well Into the Future” message. As an extension of the current Panasonic Well portfolio, Panasonic announced Umi, a holistic digital family wellness platform and coach. 

SiriusXM
Jennifer Witz, CEO, SiriusXM, joined Ashley Flowers, #1 female podcaster in the U.S. and host of the hit podcast Crime Junkie, on the C Space stage to deliver a keynote on the intersection of technology, creativity, and storytelling in audio. The conversation covered the importance of authenticity, how AI is changing the creative landscape, and adapting consumer interests.

X Corp.
Linda Yaccarino, CEO, X Corp., spoke with award-winning journalist Catherine Herridge about how the company is defining the future of digital communication. The conversation focused on X’s transformational work to create a “global newsroom in your pocket.” Yaccarino highlighted the significance of Meta’s announcement that the company will follow X’s lead in adopting a community notes approach to content moderation.

Delta Air Lines at Sphere
The first keynote at Sphere in CES history wowed over 8000 attendees! The immersive experience spotlighted Delta Air Lines’ innovations in seamless travel, onboard experiences, and the future of flight. Ed Bastian, CEO, Delta Air Lines, announced Delta Concierge and partnerships with Airbus, DraftKings, Joby, Uber, and YouTube. Special guests included actress Viola Davis, football legend Tom Brady, and GRAMMY-winning icon Lenny Kravitz.

Volvo Group
Martin Lundstedt, President and CEO, Volvo Group, emphasized the company’s commitment to building a safer, more sustainable, and more productive future. He called on policymakers and industry leaders to accelerate the transition to zero emission vehicles and discussed the company’s partnership with Aurora, aimed at advancing the development of safer, self-driving vehicles.

Accenture
Julie Sweet, Chair and CEO, Accenture, discussed how data, AI, and new ways of working are transforming industries and addressing global challenges with Julia Boorstin, CNBC senior media & tech correspondent. Sweet emphasized the need for businesses to build trust in AI technologies, especially as AI becomes increasingly autonomous in a society where trust is scarce. She also highlighted Accenture’s 25th annual Tech Vision, which explores the paths leaders can take when AI is ubiquitous.

Waymo
Tekedra Mawakana, co-CEO, Waymo, spoke with Bloomberg Technology’s Ed Ludlow on the company’s progress in developing its self-driving technology, Waymo Driver. Mawakana emphasized safety and expanding its autonomous ride-hailing service to new cities while showcasing advancements in technology and outlining a vision for a safer and more accessible future.

Conference Programming
CES 2025 offered more than 300 conference sessions, exploring how tech solves some of the world’s greatest challenges.

C Space – C Space at ARIA brought together thousands of senior-level marketing professionals to explore the intersection of technology, media, and branding. Attendees heard from leading industry innovators from brands like Reddit, NBCUniversal, and Microsoft Advertising about how technology is shaping the future of storytelling, consumer engagement, and brand strategy. C Space sessions emphasized the importance of creativity and authenticity in navigating the ever-evolving digital landscape.CES Creator Space – The first-ever CES Creator Space, presented by Sony, gathered storytellers to network, create content, and relax in between visiting exhibitors. Sessions led by industry experts helped creators elevate their craft, featuring discussions on storytelling, content monetization, brand partnerships, rights and ownership, and more.Digital Health Summit brought together the entire health ecosystem to learn, network, and explore the role technology plays in advancing and reforming medicine, healthcare, and consumer wellness.Great Minds series explored the intersection of technology and humanity. Speakers included C-Suite executives, philanthropists, influencers, government leaders, entrepreneurs, venture capitalists, and more.Innovation for All Track included dedicated programming focused on ensuring all voices are represented in technology and innovation, bringing together thought leaders for a series of engagement opportunities, dynamic session content, and networking events.Innovation Policy Summit advanced CTA’s Innovation Agenda. CES brought together policymakers and government guests from around the world to discuss domestic and global tech policy issues including AI, privacy, trade, competition, and more. Conference sessions featured high-level government speakers from the White House, Department of Commerce, Department of Homeland Security, Department of Transportation, Federal Communications Commission, Federal Maritime Commission, Federal Trade Commission, and more.Mobility Stage made its debut in West Hall, exploring the future of mobility tech on the CES show floor. Topics included AI, connected vehicles, software, supply chain, and more.Quantum Means Business, a multi-session conference track developed with Quantum World Congress, gathered some of the brightest quantum minds, showcasing breakthroughs that were once confined to science fiction. Industry leaders from IBM, Microsoft, and beyond shared insights into how quantum, paired with advancements in AI and machine learning, creates unparalleled opportunities across industries.Startup Stage in Eureka Park brought together visionaries to discuss AI, health, startup funding, and more.

Celebrities at CES
Celebrity brand ambassadors like Alexis Ohanian, Denim Richards, Karlie Kloss, Maria Shriver, Mark Cuban, Martha Stewart, Meghan Trainor, Sophia Bush, Stevie Wonder, Terry Crews, Tim Meadows, Tunde Oyeneyin, and will.i.am attended the show. Read more about CES 2025 celebrity guest participation here.

Visit CES or the CES App, sponsored by Panasonic, for keynotes, sessions, and product announcements. View the high-res image gallery and download B-roll. Check out news from this week with CTA press releases including CTA’s U.S. Consumer Technology One-Year Industry Forecast, CES 2025 Green Grants, CTA 2025 Global Innovation Scorecard, CES 2025 Open, and a new investment in Quantum Word Congress.

We’ll DIVE IN again as CES returns to Las Vegas January 6-9, 2026.

About CES®:
CES is the most powerful tech event in the world – the proving ground for breakthrough technologies and global innovators. This is where the world’s biggest brands do business and meet new partners, and the sharpest innovators hit the stage. Owned and produced by the Consumer Technology Association (CTA) ®, CES features every aspect of the tech sector. CES 2025 takes place Jan. 7-10, 2025, in Las Vegas. Learn more at CES.tech and follow CES on social. 

About Consumer Technology Association (CTA)®:
As North America’s largest technology trade association, CTA is the tech sector. Our members are the world’s leading innovators – from startups to global brands – helping support more than 18 million American jobs. CTA owns and produces CES® – the most powerful tech event in the world. Find us at CTA.tech. Follow us @CTAtech. 

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SOURCE Consumer Technology Association

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KNEX Technology CTO Gustavo Gonzalez Elected 2025 President-Elect of OATUG

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5 hours ago

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January 11, 2025

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Gustavo Gonzalez, KNEX Technology’s CTO, has been elected 2025 President-Elect of OATUG, emphasizing his dedication to Oracle innovation, collaboration, and leadership, including Ascend 2025’s strategic initiatives.

IRVINE, Calif., Jan. 10, 2025 /PRNewswire-PRWeb/ — KNEX Technology, a leading Oracle Cloud solutions provider, is proud to announce that its Chief Technology Officer, Gustavo Gonzalez, has been elected as the 2025 President-Elect of the Oracle Applications & Technology Users Group (OATUG). This esteemed appointment highlights Gonzalez’s longstanding commitment to advancing innovation and collaboration within the Oracle community.

OATUG has played a pivotal role in my professional growth, and it is a privilege to contribute to this community which has enriched my career. As President-Elect, I look forward to collaborating with my peers to strengthen the Oracle user community and further its impact on businesses worldwide.

In his new role, Gonzalez will work closely with the OATUG leadership team throughout 2025, preparing to serve as OATUG President in 2026. He will focus on empowering Oracle professionals worldwide by fostering knowledge-sharing, community engagement, and professional development. OATUG, a globally recognized organization, supports its members in overcoming challenges, enhancing the value of Oracle solutions, and driving organizational success.

“OATUG has played a pivotal role in my professional growth, and it is a privilege to contribute to this community which has enriched my career,” said Gustavo Gonzalez. “As President-Elect, I look forward to collaborating with my peers to strengthen the Oracle user community and further its impact on businesses worldwide.”

Gonzalez’s election underscores his dedication to giving back to the Oracle ecosystem. A key focus of his role will include shaping OATUG’s strategic initiatives, such as the annual Ascend Conference, which unites Oracle users, thought leaders, and technology innovators for unparalleled learning and networking opportunities.

The upcoming Ascend 2025 Conference, scheduled for June 8–11 in Orlando, Florida, promises to build on the success of the 2024 event, which attracted more than 1,800 attendees. With early bird registration now open, Gonzalez aims to ensure the conference continues to deliver transformative insights and experiences for the Oracle community.

About OATUG

The Oracle Applications & Technology Users Group (OATUG) is the premier global organization for Oracle users, providing year-round education, networking, and advocacy. OATUG empowers its members to unlock the full potential of Oracle solutions, fostering innovation and collaboration across industries.

About KNEX Technology

KNEX Technology is a trusted leader in Oracle Cloud solutions, delivering cutting-edge products and services to help businesses achieve their objectives. Through its innovative approach and customer-focused strategies, KNEX enables organizations to navigate the complexities of today’s technology landscape. For more information, visit www.knextech.com.

Media Contact

Husna Gyasi, KNEX Technology, 1 (949) 232-0786, husna.ghayaisi@knextech.com, https://knextech.com/

Twitter, LinkedIn

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SOURCE KNEX Technology

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Dr. Gerard van Belle Appointed Director of Science at Lowell Observatory, Charting a Bold Future for Research

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6 hours ago

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January 11, 2025

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Dr. van Belle to guide scientific exploration and foster innovation in the next era of astronomical research

FLAGSTAFF, Ariz., Jan. 10, 2025 /PRNewswire/ — Lowell Observatory is pleased to announce the appointment of Dr. Gerard van Belle as the new Director of Science. Van Belle, who has been an astronomer at the observatory since 2011, has been serving as the interim Director of Science.

In his new role, van Belle will lead a diverse team of astronomers and planetary scientists. He will spearhead the observatory’s new Science Vision, which focuses on advancing research capabilities and implementing cutting-edge technological improvements supporting Lowell’s leadership in astronomical research.

Under his leadership, the science department will continue to advance Lowell Observatory’s mission to pursue the study of astronomy, including the study of our solar system and its evolution, and to conduct pure research in astrophysical phenomena.

Van Belle’s own research focuses on fundamental stellar parameters, including the sizes, shapes, masses, distances, and temperatures of various types of stars. He is also renowned for his expertise in optical and near-infrared astronomical interferometry.

He earned his bachelor’s degree in physics from Whitman College in 1990, followed by a master’s degree from The Johns Hopkins University in 1993, and a Ph.D. in physics from the University of Wyoming in 1996.

Throughout his career, van Belle has been instrumental in the development and commissioning of major optical interferometers worldwide, including the Palomar Testbed Interferometer, the Keck Interferometer, and the Very Large Telescope Interferometer. His pioneering work in stellar surface imaging earned him the inaugural Edward Stone Award for Outstanding Research Publication at NASA’s Jet Propulsion Laboratory in 2002.

In 2011, van Belle joined Lowell Observatory’s science staff, where he applied high-resolution astronomical techniques to detect nearby exoplanets and map stellar surfaces. He served as the Director of the Navy Precision Optical Interferometer (NPOI) in Flagstaff, Arizona, from 2017 to 2018, and subsequently as its Chief Scientist until 2022.

Notably, van Belle was among the astronomers who voted against the definition of ‘planet’ advanced during the 2006 International Astronomical Union (IAU) conference in Prague, which relegated Pluto to being a ‘dwarf planet’ (which according to the IAU resolution is not a planet).

His extensive experience and dedication to advancing astronomical research make him a valuable leader for Lowell Observatory’s scientific endeavors.

“I am honored to take on this role at such a pivotal time for Lowell Observatory,” said van Belle. “Our Science Vision will guide us in exploring new frontiers in astronomy while strengthening our commitment to public engagement and education.”

Executive Director Dr. Amanda Bosh expressed her confidence in van Belle’s leadership: “Gerard’s extensive experience and dedication to our mission make him the ideal person to lead our scientific endeavors. I look forward to working closely with him as we embark on this exciting new chapter for Lowell Observatory.”

For more information about Lowell Observatory’s research and public programs, visit lowell.edu.

About Lowell Observatory
Founded in 1894, Lowell Observatory in Flagstaff, Arizona, is a renowned nonprofit research institution. It is the site of historic and groundbreaking discoveries, including the first evidence of the expanding universe and the discovery of Pluto. Today, Lowell’s astronomers utilize global ground-based and space telescopes, along with NASA spacecraft, for diverse astronomical and planetary science research. The observatory hosts more than 100,000 visitors annually for educational tours, presentations, and telescope viewing through a suite of world-class public telescopes.

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SOURCE Lowell Observatory

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