Technology

111, Inc. Announces Receipt of Notification from Nasdaq

Published

2 months ago

September 27, 2024

SHANGHAI, Sept. 27, 2024 /PRNewswire/ — 111, Inc. (“111” or the “Company”) (NASDAQ: YI), a leading tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in China, today announced it has received a notification letter dated September 26, 2024 (the “Notice”) from the staff of the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”), indicating that for the last 30 consecutive business days, the closing bid price of the Company’s American depositary shares (the “ADSs”) was below the minimum bid price of US$1.00 per share requirement set forth in Nasdaq Listing Rule 5450(a)(1). The Notice has no current effect on the listing or trading of the Company’s ADSs on Nasdaq.

Pursuant to the Nasdaq Listing Rules 5810(c)(3)(A), the Company is provided with a compliance period of 180 calendar days, or until March 24, 2025, to regain compliance under the Nasdaq Listing Rules. If at any time during the 180-day compliance period, the closing bid price of the Company’s ADSs is US$1.00 per share or higher for a minimum of ten consecutive business days, Nasdaq will provide the Company written confirmation of compliance and the matter will be closed. In the event the Company does not regain compliance by March 24, 2025, subject to the determination by the staff of Nasdaq, the Company may be eligible for an additional 180-day compliance period.

The Company’s business operations are not affected by the Nasdaq notification letter. The Company intends to monitor the closing bid price of its ADSs between now and March 24, 2025 and will take all reasonable measures in order to regain compliance with the Nasdaq minimum bid price requirement.

Forward-Looking Statements

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident” and similar statements. 111 may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve inherent risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company’s ability comply with extensive and evolving regulatory requirements, its ability to compete effectively in the evolving PRC general health and wellness market, its ability to manage the growth of its business and expansion plans, its ability to achieve or maintain profitability in the future, its ability to control the risks associated with its pharmaceutical retail and wholesale businesses, and the Company’s ability to meet the standards necessary to maintain listing of its ADSs on the Nasdaq Global Market, including its ability to cure any non-compliance with Nasdaq’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and 111 does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

About 111, Inc.

111, Inc. (NASDAQ: YI) (“111” or the “Company”) is a leading tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in China. The Company provides consumers with better access to pharmaceutical products and healthcare services directly through its online retail pharmacy, 1 Pharmacy, and indirectly through its offline virtual pharmacy network. The Company also offers online healthcare services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation, electronic prescription service, and patient management service. In addition, the Company’s online platform, 1 Medicine, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. With the largest virtual pharmacy network in China, 111 enables offline pharmacies to better serve their customers with cloud-based services. 111 also provides an omni-channel drug commercialization platform to its strategic partners, which includes services such as digital marketing, patient education, data analytics, and pricing monitoring.

For more information on 111, please visit: http://ir.111.com.cn/.

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SOURCE 111, Inc.

Technology

Todd Tucker joins Parking Revenue Recovery Services as Chief Operating Officer to Guide Growth as PRRS expands as a Vehicle Identification and Monitoring Technology Platform

Published

14 minutes ago

November 15, 2024

DENVER, Nov. 15, 2024 /PRNewswire/ — Parking Revenue Recovery Services (PRRS), Inc., a leader in AI-driven compliance and vehicle activity monitoring, is pleased to announce the appointment of Todd Tucker, JD, DBA, CAPP, CPP, as its new Chief Operating Officer, effective November 15, 2024. With over 30 years of experience in the parking industry, Tucker is a recognized leader, having held various senior executive roles. Todd assumes the role of Chris Conley, who has decided to retire and enjoy some well-earned time after 30 years in the parking industry.

Before joining PRRS, Tucker served as President at Parking Logix and has been a leader in multiple tech companies focused on mobility solutions, with two leading to strategic and/or investment transaction outcomes Todd’s experience as a parking operations leader/expert and his roles spearheading the development and growth of innovative technology offerings focused on parking provide him with a unique ability to build solutions that meet the needs of today’s parking operations.

PRRS is uniquely positioned in gateless parking technology solutions through its machine vision-based technology, which identifies all vehicle activity, enhances compliance, and enables clients to expand their service capabilities. Our technology allows clients to gather valuable insights into operation and consumer activity while helping our clients improve their customer experience. With Tucker’s extensive expertise in parking technology and leadership, PRRS aims to broaden its services across North America, solidifying its status as the premier provider of gateless technology solutions to operators and facilities.

“Todd’s proven track record of driving innovation and his dedication to enhancing technology-based services make him the ideal candidate to lead PRRS into its next growth phase,” said Gabor Burchner, Managing Director, GB & Partners IM. “As the demand for adaptable technology solutions providers continues to rise, Todd’s leadership and collaborative approach will be invaluable.”

PRRS, in partnership with Asura, has successfully implemented the ARC solution and its compliance services at over 400 parking sites across 29 states. With ongoing investment from GB & Partners IM, PRRS is set to expand beyond its current identity as a “parking notice firm” to become the leading gateless technology solution for the future.

“I am thrilled to join PRRS and enhance the value we provide to our parking operating partners,” said Todd Tucker. “Throughout my career, I’ve consistently sought to challenge the status quo by delivering innovative solutions in an ever-evolving industry. PRRS is at the forefront of leveraging technology to enhance its services, and with GB & Partners IM participation, we will continue to deliver exceptional value to the parking sector and beyond. I look forward to joining the PRRS team and collaborating with our clients to push boundaries and innovate in compliance and facility monitoring services.”

About Parking Revenue Recovery Services

Parking Revenue Recovery Services, Inc. (PRRS) is North America’s leading Parking Compliance and Facility Monitoring technology provider. PRRS is on track to provide over 1,000 parking locations and proudly supports national, regional, and local parking operators throughout the United States. Our client owners and parking operators use our monitoring and compliance services in all properties, including commercial lots and garages, municipal facilities, college and university facilities, airports, hospitals, commercial properties, and residential buildings. PRRS creates exceptional value for its parking operator clients through increased overall customer compliance and enhanced visibility into operating activity and usage while delivering excellent customer service. We maximize the value provided to our clients through excellence, innovation, and efficiency in its compliance and monitoring services, delivered by an outstanding team of parking professionals dedicated to the highest levels of customers.

About Asura Technologies

Asura Technologies specializes in next-generation video analytics and license plate recognition software, utilizing AI to create smart parking, traffic management, frictionless tolling, and safety security applications. Active globally since 2018, Asura Technologies USA collaborates with PRRS to provide highly effective, automated parking enforcement solutions through innovative technology.

About GB & Partners IM

GB & Partners IM is an independent private equity and venture capital firm focused on innovative city technologies, fashion, fintech, medical technologies, and mechanical engineering. As the largest Hungarian-based firm in its sector, GB & Partners IM offers extensive leadership experience in private equity and venture capital investments, M&A transactions, and IPOs, providing operational support to investment entities by international standards. In 2019, GB & Partners IM became the first Hungarian venture capital firm to gain membership in Invest Europe.

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SOURCE Parking Revenue Recovery Services, Inc.

Technology

Connect and Converse Across Borders with Moii: Now Available Worldwide

Published

14 minutes ago

November 15, 2024

SEOUL, South Korea, Nov. 15, 2024 /PRNewswire/ — Moii, an innovative avatar-based interest-matching conversation service developed by tech startup illuni, has officially launched globally. Available on the Google Play Store and Apple App Store, Moii offers users a unique way to meet new friends, share stories and enjoy engaging conversations. The service allows people around the globe to experience safe, interest-based connections with like-minded people, fostering a sense of community across borders. Moii exemplifies illuni’s commitment to creating immersive digital experiences through advanced artificial intelligence (AI) technology.

To create heartfelt connections, download Moii from the Google Play Store (https://play.google.com/store/apps/details?id=com.illuni.moii&hl=en-US) and Apple App Store (https://apps.apple.com/us/app/moii-heartfelt-connections/id6456406927).

Create Moiiments, Connect Globally

In a world where genuine interaction can feel rare, Moii provides a space for simple, meaningful conversations without the pressure of video or photo sharing. By connecting users based on shared interests, Moii creates a relaxed environment for spontaneous chats, whether someone is looking for a listening ear, a language exchange, or a fresh global perspective. With engaging features such as avatar costumes and singing content in virtual karaoke – introduced in a recent November update – the app continues to attract a growing user base of young adults seeking meaningful connections beyond small talk.

“Since our global launch on the 1st of November, users from over 30 countries have come together on Moii to share interests, create unique content and enjoy friendly conversations,” said Byung-Hwa Park, CEO of Illuni. “We are thrilled by the enthusiasm for Moii as people around the world find it to be a fun and welcoming platform.”

Aimed at users in their 20s and 30s, Moii allows users to interact in a fully customizable 3D environment. Instead of revealing their actual appearance, users create avatars that reflect their personalities and interests, providing a sense of anonymity, security, and comfort. Once matched, users can personalize their avatars, use conversation cards, and enjoy mini games, making every interaction fun and engaging.

With a mission to create comfortable spaces for conversation, Moii promotes cross-cultural and language exchange on a global scale. Whether users want to make foreign friends, practice a new language, or simply chat with a friendly listener, Moii offers a low-pressure, refreshing way to connect.

Looking ahead, Illuni plans to expand Moii’s language support, making it accessible to even more users across the globe.

For more information about Moii, visit https://www.moii.net/en

About illuni

Illuni is a forward-thinking startup focused on developing immersive digital experiences through advanced AI technology. The company is committed to building innovative mixed-reality services that redefine user engagement in digital spaces. Alongside Moii, illuni’s portfolio includes Storyself (https://storyself.com), an interactive storybook app that transforms users’ pictures into story characters, allowing them to become the protagonists of various tales—making it both engaging and educational for children.

To learn more about illuni and its suite of mixed-reality projects, visit: https://www.illuni.com/en

For media inquiry, please contact: illuni Communications, e-mail: contact@illuni.com

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SOURCE illuni

Technology

LONGi’s Solar Panels Enhance Sustainability in Bengaluru’s Residential Complex

Published

14 minutes ago

November 15, 2024

BANGALORE, India, Nov. 15, 2024 /PRNewswire/ — LONGi, in partnership with SolarSquare, has completed a 342 kW solar project using advanced Hi-MO 5 solar panels for a residential apartment complex in Bengaluru.

Launched seven months ago, this solar project is set to save the residential complex up to $47,736 annually and has already generated an impressive 340,000 units of electricity. Thanks to the high efficiency of the solar modules, significant economies of scale, and the inherent advantages of rooftop solar, the project is projected to reach its break-even point within just 4.75 years.

Before the installation of the rooftop solar panels, residents faced annual electricity costs of approximately $143,305. The switch to solar energy is expected to result in annual savings between $47,768–$53,768, effectively reducing their electricity expenses by around 33%.

Nikhil Nahar, Co-founder and Director of SolarSquare, stated, “Through our strategic partnership with LONGi over the years, our customers have gained access to state-of-the-art technology for their projects. LONGi’s solar panels consistently deliver performance and help our customers save on electricity bills. With a shared vision to accelerate the mass adoption of renewable energy and enhance sustainability, our partnership has continually provided innovative solutions, earning the trust of our customers.”

LONGi remains committed to delivering advanced solar technology and helping more residential complexes achieve energy independence through its highly efficient and reliable products.

About LONGi

Founded in 2000, LONGi is committed to being the world’s leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation.

Under its mission of ‘making the best of solar energy to build a green world’, LONGi has dedicated itself to technology innovation and established five business sectors, covering mono silicon wafers cells and modules, commercial & industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. www.longi.com

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