Technology
GMIF2024 Focuses on Industrial Innovation and Co-Development for Storage Ecosystem Prosperity
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SHENZHEN, China, Nov. 3, 2024 /PRNewswire/ — Since the beginning of this year, benefiting from the surge in storage demand brought about by the AI and big data era, along with effective inventory reduction in downstream sectors, the storage industry has spearheaded a recovery that has led the semiconductor market into a new cyclical turning point. During this crucial period of industrial transformation, “breaking through for a win-win outcome” has become a shared objective.
Recently, the third GMIF2024 Innovation Summit was officially held in Shenzhen. With the theme “AI Leads Memory’s New Momentum”, GMIF2024 stood as a spotlighted storage gala that convened upstream and downstream enterprises in the semiconductor industry. Participants shared brilliant insights from their respective positions and perspectives on critical topics such as global memory technology innovation, process innovation, product innovation, application innovation, and ecosystem development, to explore paths to industrial innovation and mark a grand industry feast that connected the entire ecosystem.
The GMIF2024 event also included a dedicated area for exhibitions and displays, where more than 30 exhibitors offered an all-encompassing display of over 200 exhibits, fully portraying the latest front-end innovations and state-of-the-art achievements. At the summit, the GMIF2024 Annual Awards were simultaneously announced, with a total of 38 enterprises making the list. Besides, an exclusive session, specifically the Global Live Broadcast of Memory Trends by Brands, brought a bright spot to the event, and was also acknowledged as a channel for sharing innovative storage solutions, cutting-edge technologies, and various typical innovation cases in application.
The summit was officially commenced with the opening remarks from Rixin Sun, Chairman of the Shenzhen Memory Industry Association (SMIA). Mr. Sun said that with expeditious advancement in technologies such as AI, 5G, Big Data, and Internet, the global storage industry is embarking on a brand-new phase of transformation. Rather than focusing solely on the storage or memory itself, the GMIF Innovation Summit aims to connect the whole value chain across the upstream and downstream storage companies, covering key areas such as storage media, solutions, system platforms, and testing equipment. SMIA, as the organizer of the summit, regards “focusing storage domain, enhancing industry collaboration” as the core area of work, dedicated to establishing a fundamental industrial cooperation platform for member enterprises and constructing a favorable ecosystem for the storage industry. It’s believed that only through collaboration across the entire industry chain can continuous progress be promoted and leadership be maintained in the global marketplace.
Dialogue with AI Storage, Innovate for Win-Win
Over the recent years, the rise of AI large models has driven AI-related terminal applications to be the pillar supporting the storage upward cycle. At the moment, the ongoing rise in storage capacity demands for AI phones, AI PCs, and even automotive terminals is fueling the rapid development of the storage market.
Prasad Alluri, VP and GM for Client Storage, SBU from Micron Technology, joined the summit and stated that “phone manufacturers have increased LPDDR5 memory capacity to between 12GB and 16GB by incorporating AI functions in high-end phones to accommodate growing datasets. Additionally, storage technology has iterated to UFS 4.0, with power efficiency more than doubled compared to the previous generation. In terms of edge devices, AI will elevate autonomous driving from Level 0 to Level 5, and it’s expected that the bit density required by automotive memory will increase approximately 30 times, and non-collision bits in power supplies will enhance nearly 100 times.”
Haibing Xie, Director of Application Design in Center, Intel China, expressed that AI PC is the best carrier for edge AI and will lead the next explosion in the PC industry. As of now, Intel has shipped 20 million AI PC chips, expected to reach 40 million by year-end, and projected to ship 100 million in 2024-2025.
In light of the current memory market, Xiaofei Zhang, Chief Analyst for Electronics Industry from Haitong Securities, mentioned in his report “AI: Storage Trends Outlook and Application Driving” that HBM3e has an impact on the production timelines of DDR5, and the decline in DRAM prices is limited; regarding NAND, inventory adjustment at server terminals is entering its final stage, and coupled with increasing demand for large-capacity storage products propelled by AI, Q2 has seen an on-going price increase. Although recent NAND price increases have slowed down, its prospect still exceeds market concerns. In the future, the penetration of AI terminal applications will accelerate, and the demand for computing storage will continue to rise.
Wallace C. Kou, President & CEO of Silicon Motion, shared a similar view and commented that while AI servers and data centers are flourishing in 2024, other consumer electronics products face various challenges due to weak demand. However, there’s no need for excessive concern about recent soft demand, as the long-term storage market outlook remains broad with many new growth opportunities.
The storage industry faces both opportunities and higher challenges in the AI era. According to Yimao Cai, Dean of the School of Integrated Circuits at Peking University, significant hurdles have been presented for storage technology after entering the post-Moore and AI era. On one hand, traditional memory faces serious constraints in integration density and reliability below 28nm, which urgently requires breakthroughs in underlying technology. On the other hand, the rapid growth in AI computational demand is straining traditional computing chips due to their high overhead and energy consumption, incapable of meeting the high-efficiency requirements of smart devices. Therefore, breakthroughs in underlying units and process integration are core to memory technology advancement, and new storage technology forms are becoming increasingly mature, expected to further promote the development of In-Memory Computing (IMC) chips.
Yan Li, Vice President of Advanced Technology at Western Digital, pointed out that 3D NAND flash is a competitive, constantly progressing market. The number of NAND cells stacked has experienced substantial growth, yet continuously increasing layers might not be a good strategy as it could cause cost-effectiveness imbalance and lead to a vicious cycle. Instead, overcoming 3D NAND scaling limitations through innovative technologies can also improve storage density and performance.
Benny Ni, GAR Sales VP at Solidigm, stated that AI is increasingly highlighting the limitations of mechanical hard drives, and Solidigm-launched QLC SSD is capable of breaking through HDD limitations in AI applications, which significantly improves power efficiency of AI storage and contributes to perfecting the ecosystem.
Zhinong Liu, Executive Vice President of UNISOC, signified that in the all-scenario AI computing system, software serves as the “engine”, chips as the “foundation”, the ecosystem as the “bond”, and products as the “carrier”. UNISOC will continue to strengthen its advanced semiconductor manufacturing platform based on strategy and capability centers, maintain supply chain security, ensure efficient and stable product delivery, and enhance customer satisfaction.
Rui Ding, General Manager, Product Department, Consumer Cloud Platform Business Group at iFLYTEK, declared that the development of large models has transitioned AI from a “tool” to an “assistant”, capable of doing more generalized tasks through more natural conversational forms. However, its ultimate form will be a “partner” that can perceive emotional changes and provide sufficient emotional value. In the future, iFLYTEK hopes to collaborate with various industry stakeholders to promote the development of AI technology.
Embracing Trends, Building for the Future
Facing the massive market opportunities brought by the AI era, major manufacturers are scaling up efforts to strengthen their industry chain layout. Sam Sun, Chairman of BIWIN Storage, voiced that BIWIN is intensifying endeavors in the layout of its Integrated R&D and Packaging 2.0 strategy, and strengthening commitment to investment in storage solutions, chip design, packaging and testing, and equipment R&D. This integrated strategy not only involves a keen focus on the R&D and packaging and testing of mainstream storage and memory, but shifts attention to more far-reaching development opportunities in high-end advanced packaging and testing technology. This transition is poised to elevate BIWIN from a storage product supplier to a comprehensive partner offering advanced wafer-level packaging and testing services, so as to deliver innovative, high-quality solutions to industry partners and promote a comprehensive enhancement in customer value. Guided by the vision of ‘BIWIN, WIN-WIN’, BIWIN Storage, rooted in China yet with a global perspective, strives to achieve technological innovation and commercial success in collaboration with clients through its dual-drive strategy of storage solutions and advanced packaging and testing.
Haiqing Huang, R&D Vice General Manager at Victory Giant Technology, shared his insights that VGT is accelerating its R&D investments of PCB products to adapt to current high-performance computing, data centers, AI training and inference, and other application scenarios. Up to date, the fifth-generation high-performance memory (DDR5) is in mass production, and sixth (DDR6) and seventh generation (DDR7) products are under development.
Chloe Ma, VP of China GTM for IoT Line of Business at Arm, remarked that the AI industry will usher in its “highlight” moment, and storage plays a key role in AI computing from cloud to edge. Arm is carrying various emerging AI applications and workloads from cloud to edge. In response to the innovative demands of edge AI in the new era, Arm is committed to advancing in three major areas: hardware, software, and ecosystem development.
At present, AIoT has become the best channel for intelligent upgrade of traditional industries and also a critical direction for future IoT development. Feng Chen, Senior Vice President of Rockchip, indicated that the AIoT market has seen rapid expansion, which brings more opportunities for AIoT chips; but meanwhile, challenges are also presented for the enhancement of chip computing power as more massive data transmission and storage computing demands are required. Rockchip continues to launch chips to support AIoT applications.
Vic Huang, Vice General Manager of QUANXING Technology, explained that high hardware costs are draining the vitality of the AI industry, and low-cost hardware solutions are in urgent needs. The computing architecture of Quanxing’s solutions is not limited by large model size and able to significantly reduce local deployment costs. Moreover, Allwinner Technology concentrates efforts on enhancing general computing power, specialized computing power, computing power expansion, and multi-modal perception; Montage Technology establishes a complete layout in high-performance “transmission” chips, which is expected to become a new growth point for the company.
The evolving development of storage industry has illuminated the importance of packaging and testing technologies, especially as advanced packaging is moving toward miniaturization and integration and rising technical barriers are surfacing. International equipment manufacturers such as AMAT, LAM Research, and DISCO make pushes to provide innovative functionalities of their equipment products, in order to improve the “hard strength” of their products and stand out in the market.
Advance Industry, Cultivate a Flourishing Ecosystem
China has grown into an important global consumption market for memory chips with growing demand from consumer electronics, big data, AIoT, automotive electronics, and other terminal markets. Meanwhile, the storage industry chain in China is under refinement and development, able to further connect wafer manufacturers, controller manufacturers, packaging and testing manufacturers, equipment manufacturers, SoC platform manufacturers, module manufacturers, and terminal manufacturers. This has created one of the most dynamic memory industry clusters in the world and made joint efforts to build an active industrial ecosystem.
Shan Jiang, General Manager of Guangdong Loongson Electronic Technology, affirmed that Loongson has gained more innovative space for the industry and market through self-reliance and independence. Autonomy has granted Loongson greater freedom, enhanced cost-effectiveness, and a more secure supply chain. Committed to becoming both a contributor and a maintainer of the international upstream community, Loongson aims to achieve independence and compatibility on the global stage at the same time, rather than decoupling or breaking the chain.
Ming Zhao, General Manager of OKN Technology, observed that “Nowadays, market competition is fierce. For OKN, it’s about competing with ourselves, which means to continuously improve technical capabilities and product coverage, and empower high-quality development of the storage industry through testing technology.” Aaron Xu, CTO of Tytantest, highlighted that “Through our efforts on forward R&D, domestic manufacturing of complete machines, and validation on self-owned production lines, Tytantest strives to develop comprehensive solutions that better meet customer needs.”
Leo Cao, Senior Sales Director at Silergy, said that in the storage industry chain, the company possesses several advantages, including highly efficient product integration, extensive experience collaborating with top-tier clients, a wide range of product coverage, supply chain security, and global collaborative research and development. Silergy has achieved a global layout in R&D and service, and stays true to its mission to prioritize customer needs.
In the field of controller design, domestic manufacturers have also achieved significant success. Huan Ren, Marketing Director at Maxio Technology, confirmed that domestic storage controllers are still in the initial stage, expected to account for nearly 20% of global share this year and potentially rise to 30% by 2027. Jie Chen, Co-founder and VP of Data Storage Technology at InnoGrit, claimed that the data age has posed higher challenges to storage technologies. Faster and more efficient SSD interfaces will help to break through storage limitations. The collaborative optimization of InnoGrit’s memory controllers with domestically produced flash memory will enhance the read/write performance and QOS competitiveness of storage products, jointly shaping the future of China’s storage industry.
Equipment manufacturers are also aligning with market demands by launching a steady stream of innovative products. Song Zhang, Executive Vice President of Skyverse, emphasized that, “In practical applications, it can be noted that system inspection has demonstrated better results in efficiency and accuracy than manual inspection, which aids to significantly improve production efficiency for the clients. Skyverse will remain dedicated to driving innovation in AI products to provide high-quality solutions for domestic customers in the future.”
Xiaolong Ouyang, R&D VP at Attach Point Intelligent Equipment (APIE), proclaimed that APIE has launched a one-stop solution for die bonders, and the packaging process range of storage chips covered expands from 60% to 90%. This endeavor contributes to achieving high-efficient resource utilization, creating higher value for customers, and supporting flexible manufacturing of storage chips in the AI era.
Kent Wang, Business Development Manager at Heyan Technology, introduced that the company has experienced three development stages: the basic products of 6-inch dicing machines, upgraded products of 8-inch/12-inch dicing machines, and high-end products such as cutting and sorting machines and de-bonding machines. Heyan is capable of providing reliable and stable consistency assurance for customers, supporting customized solutions for different processes, and offering process-related technological innovations to meet advanced packaging demands.
Simon Ye, General Manager of Like Automation Equipment, noted that LKAUTO has mastered the capability for ball mounting on large-sized packaging, supporting applications with packaging sizes up to 120 mm × 120 mm, packaging warpage up to 700μm, and solder ball diameters of 250μm/pitch of 400μm for I/O nodes. The latest generation of innovative technology products is already being used in product development validation with domestic clients.
Steve Pei, CEO of Micro-Nano (Hong Kong) Technology, clarified that Germany SENTRONICS is now a main provider of the SemDex M1 semi-automatic system and the SemDex A fully automatic system, with related products having global installations exceeding 1,000 units, helping improve yield in HBM and advanced packaging fields.
Maxwell today has developed two major solutions: one focuses on semiconductor grinding and dicing equipment + process + materials, and the other on 2.5D/3D advanced packaging equipment. Kuilin Jin, Vice General Manager of Sales at Maxwell Technologies, added that “our ultimate goal is to break international monopolies, forge domestic competitive barriers, provide customers with complete solutions, and grow together with customers”.
Showcase Results, Foster Collaboration
In addition to impressive keynote speeches, the GMIF2024 Innovation Summit also promoted exchange and cooperation among industry ecosystem partners through product exhibitions, global live broadcast of memory trends by brands, and golf friendship tournaments. These activities aim to accelerate the innovation, research, development, and promotion of relevant technologies and products, driving the diversified development of the semiconductor memory ecosystem.
The summit venue set up over 30 exhibition booths to provide a platform for exhibitors to demonstrate achievements and exchange cooperation. The exhibited products encompass the entire industry chain, including memory chips, controllers, packaging and testing, equipment, SoC platforms, and more. Participating enterprises included both leading memory industry companies and unicorns, startups, etc. Through displays, videos, and on-site interactions, the summit presented a multi-faceted and comprehensive view of the achievements, cutting-edge technologies, and industry trends in the storage sector.
The exhibition stands not only as an opportunity for participants to gain direct insights into the current state of storage industry development, but also a stage for enterprises to showcase their achievements and engage in collaborative discussions, receiving widespread praise and enthusiastic response from the industry.
To recognize and encourage outstanding enterprises that have made contributions to promoting innovation and development of the global memory industry chain, the winners of GMIF2024 Annual Awards were unveiled at the summit. After fierce competition, nearly 40 companies, including Intel, Micron, CXMT, YMTC, GigaDevice, Arm, UNISOC, SIXUNITED, Victory Giant, BIWIN Storage, Solidigm, Western Digital, Rockchip, Allwinner Technology, Weibu Information, Heyan Technology, OKN Technology, Attach Point Intelligent Equipment, iWISEETEC, Tytantest, Hemei Jingyi, Silicon Motion, Maxio, QUANXING, MICROFROM, Konsemi, Silergy, Tongfang, LKAUTO, Maxwell, Skyverse, RORZE, ExTripod Electronics, EPS, InnoGrit, POWEV, KingSpec, LANYI and more, had been honored with the 2024 Annual Awards.
After the awards ceremony, the organizers carefully arranged one more relaxing section of “Bay Area Night”, which not only provided participants with opportunities to relax and enjoy cuisines but also became a warm moment for everyone to further deepen friendships and share feelings.
Furthermore, GMIF2024 featured a unique section of Global Live Broadcast of Memory Trends by Brands, where storage brands such as BIWIN Storage, Silicon Motion, Victory Giant, Montage, QUANXING, InnoGrit, POWEV, and KingSpec shed lights on their innovative storage solutions, forefront technologies, and various typical innovation examples in mobile intelligent terminals, data centers, intelligent vehicles, Internet of Things, and other fields.
The golf friendship tournament, as the “finale” of this GMIF2024 Innovation Summit, played the part of an important platform for building friendships through sports and fostering connections through competition. Taking golf as a medium and competition as a bond, GMIF dedicated itself to building communication bridges between enterprises, facilitating extensive cooperation among storage manufacturers across the industry chain and collectively seeking prosperous development of the storage ecosystem.
Conclusion
As one of the largest sub-markets in the semiconductor industry, the memory market has shown signs of recovery in the fourth quarter of 2023 after nearly two years of sluggishness, and continued its upward trend into the first half of 2024. This resurgence is largely driven by advancements in AI technology.
Currently, market demands for AI phones, AI PCs, AI servers, and other applications are growing rapidly. According to IDC predictions, by the end of 2024, generative AI smartphones will achieve explosive growth of 344%, with shipments exceeding 234 million units. According to Canalys, AI PC shipments will reach 44 million units in 2024 and potentially reach 103 million units in 2025. This explosive growth in innovative applications is driving the rapid development of advanced memory technologies while also placing increasingly high demands on high-capacity, high-speed storage solutions.
From the perspective of storage enterprises, it’s only by collaborative cooperation across the entire industry chain grounded on the enhancement of product technology iteration and updates that can the companies better embrace the development opportunities catalyzed by AI. GMIF is more than a congregation of industry elites; it is a lively arena for the clash of thoughts and the synthesis of wisdom. GMIF commits itself to inspire companies along the memory industry chain to embark on a transformative journey filled with challenges and opportunities through deep collaboration and co-creation as they strive for a more brilliant future.
For more information about GMIF, please visit https://www.gmif.com.cn/.
Media Contact:
Ms. Gu, 15064010336, wenjing.gu@gmif.com.cn
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SOURCE Shenzhen Memory Industry Association
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Hyundai Motor Group Announces 2024 Second Half Key Executive Appointments
Published
50 minutes agoon
November 15, 2024By
Jaehoon Chang is promoted to Vice Chair of Hyundai Motor Group – Automotive DivisionJosé Muñoz appointed as CEO of Hyundai Motor CompanySung Kim appointed as President of Hyundai Motor CompanyJun Young Choi is promoted to President of Kia Corporation; and Kyoo Bok Lee is promoted to President of Hyundai GlovisAppointment of new CEOs for the Group’s affiliates, including Cheol Seung Baek, Hyundai Transys; Joon Dong Oh, Hyundai KEFICO; Hanwoo Lee, Hyundai E&C; Woo Jeong Joo, Hyundai Engineering
SEOUL, South Korea, Nov. 14, 2024 /PRNewswire/ — Hyundai Motor Group (the Group) today announced key executive appointments for the year 2024 as part of its aims to solidify sustainable growth and better prepare for uncertainties in the global business environment.
This appointment reflects its commitment to a performance-based approach that aligns with outstanding achievements. By consolidating the Group’s core competencies and strategically placing proven leaders with verified track records in key positions, the Group aims to strengthen organizational foundations and accelerate our future transformation.
Jaehoon Chang is promoted to Vice Chair of Hyundai Motor Group – Automotive Division, effective Jan. 1st, 2025, to further strengthen the future competitiveness of the Group’s mobility business.
Looking ahead, Chang will oversee the entire value chain, including product planning, supply chain management manufacturing, and quality assessment. He will optimize business operations across the automotive business while securing internal synergies and building foundational systems for cost and quality innovation to ensure sustainable future competitiveness.
José Muñoz is appointed President and CEO of Hyundai Motor Company to advance global management framework and solidify customer-focused mobility innovation through diverse powertrain offerings, including electric, hybrid, ICE and hydrogen technologies, effective Jan. 1st, 2025.
As a result, Muñoz is appointed as the first non-Korean CEO of Hyundai Motor – identified as the ideal fit to further enhance the company’s performance thanks to his merit-based management philosophy and his commitment to recruiting top global talent. Going forward, he is expected to enhance the company’s global management systems and further elevate its stature as a leading global brand.
Sung Kim is appointed as President of Hyundai Motor Company to manage the business effectively through global economic uncertainties, effective Jan. 1st, 2025.
As part of his appointment to enhance the company’s Think Tank capabilities and better navigate various geopolitical challenges, Kim will oversee global external affairs, analyze and research domestic and international policy trends, and lead communications and PR initiatives. He will focus on increasing synergies across the company’s intelligence functions, strengthening external networking and advancing global protocol capabilities.
Jun Young Choi is promoted to President of Kia Corporation from Head of Domestic Production Division and Chief Safety Officer (CSO). Kyoo Bok Lee, CEO of Hyundai Glovis, is promoted to President.
To strengthen sustainable management and accelerate business transformation, the Group has appointed Cheol Seung Baek as CEO of Hyundai Transys and Joon Dong Oh as CEO of Hyundai KEFICO.
To address challenges in the construction industry and accelerate fundamental improvements, the Group has appointed Hanwoo Lee as CEO of Hyundai Engineering & Construction Co., Ltd. (Hyundai E&C) and Woo Jeong Joo as CEO of Hyundai Engineering Co., Ltd.
* Editor’s note: Appointment of all CEOs referenced are subject to approval by the relevant Group affiliate’s Board of Directors
About Hyundai Motor Group
Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel, and construction, as well as logistics, finance, IT, and service. With about 250,000 employees worldwide, the Group’s mobility brands include Hyundai, Kia, and Genesis. Armed with creative thinking, cooperative communication and the will to take on any challenges, we strive to create a better future for all.
More information about Hyundai Motor Group can be found at:
http://www.hyundaimotorgroup.com or Newsroom: Media Hub by Hyundai, Kia Global Media Center (kianewscenter.com), Genesis Media Center.
SOURCE Hyundai Motor Group
Technology
GreenPower Provides Business Update and Reports Second Quarter Fiscal 2025 Results
Published
50 minutes agoon
November 15, 2024By
Shareholder Call Scheduled for November 15, 2024 at 10 a.m. EST/7 a.m. PST
VANCOUVER, BC, Nov. 14, 2024 /PRNewswire/ — GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) (“GreenPower” and the “Company”), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today reported its second quarter fiscal year 2025 results and provided an update on its manufacturing operations.
“GreenPower spent the quarter advancing the school bus production process at its West Virginia facility by setting up an oversized paint booth and establishing production stations to increase throughput in order to meet customer orders and demands,” said GreenPower President Brendan Riley. “The increase in production coupled with manufacturing process improvements is expected to result in higher gross profit margins and cost reductions on a per unit basis as throughput improves.”
Riley said that the Company has been systematically increasing its production workforce to provide for its growing production. “Putting the workforce in place and validating the manufacturing process is key to our efficiency, and production growth which is expected to drive cost savings on a per unit basis. With these in place, GreenPower will be able to attain its longer-term manufacturing goal of producing 20 school buses per month,” he said, noting that steady, measured growth, a foundation of GreenPower’s model, is critical for maintaining quality throughout the production process.
“The growth in production complements GreenPower’s sales strategy of focusing on states where there are money and mandates for electric school buses,” added Fraser Atkinson, CEO of GreenPower. “While we continue to manufacture and sell EV school buses for current orders and contracts under both state and federal programs, the future is more focused on states that have put policies and plans in place to provide a cleaner, healthier ride for students through the deployment of electric school buses. States like California and New York, and regions like the Southwest.”
During the second quarter of GreenPower’s fiscal year 2025, the manufacturing process was exhibited when the Company produced the first Type D BEAST all-electric, purpose-built, zero-emission school bus for the 37 BEAST order from the state of West Virginia from its South Charleston plant, which was delivered at the beginning of our current quarter. That was the second BEAST produced in the facility following the production of the Kanawha County bus purchased directly by the school district outside of the state order. Additional deliveries to fulfill the state order are planned to take place in the third and fourth quarters.
Second Quarter 2025 Highlights:
Generated revenues of $5.3 million for the three months ended September 30, 2024, an increase of 78% over the previous quarter.Delivered 11 BEAST Type D all-electric school buses, six EV Star Cargo and EV Star Cargo Plus and five EV Star Passenger Vans.Deferred revenue increased to $10.4 million, including the current portion of $7.5 million, which is expected to be realized over the next year.At the end of the quarter GreenPower had working capital of $10.1 million including inventory of $31.7 million consisting of $9.3 million of finished goods, $18.6 million of work-in-process and $3.8 million of parts and components.Received order for school buses under EPA’s Clean School Bus Program from the RWC Group for Arizona.
In October the Company completed an underwritten offering of 3,000,000 common shares raising gross proceeds of $3 million. The net proceeds from this offering are intended for the production of all-electric vehicles, including BEAST school buses and EV Star commercial vehicles, product development, with the remainder, if any, for general corporate purposes.
For additional information on the results of operations for the periods ended September 30, 2024 review the interim financial statements and related reports posted on GreenPower’s website as well as on www.sedar.com or filed on EDGAR.
Shareholder Call Information
Date: Friday November 15, 2024
Time: 7 a.m. PST/10 a.m. EST
Participant dial-in: (US) 1-844-739-3982 (Canada); 1-866-605-3852; (International) 1-412-317-5718. Ask to be joined into the GreenPower Motor Company Inc. conference call.
Webcast Link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=pVZ0NwpL
Replay: (US) 1-877-344-7529; (Canada) 1-855-669-9658; (International) 1-412-317-0088
Replay access code: 4413647
For further information contact:
Fraser Atkinson, CEO
(604) 220-8048
Brendan Riley, President
(510) 910-3377
Michael Sieffert, CFO
(604) 563-4144
About GreenPower Motor Company Inc.
GreenPower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van and a cab and chassis. GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. GreenPower was founded in Vancouver, Canada with primary operational facilities in southern California. Listed on the Toronto exchange since November 2015, GreenPower completed its U.S. IPO and NASDAQ listing in August 2020. For further information go to www.greenpowermotor.com
Forward-Looking Statements
This document contains forward-looking statements relating to, among other things, GreenPower’s business and operations and the environment in which it operates, which are based on GreenPower’s operations, estimates, forecasts and projections. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “upon”, “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. A number of important factors including those set forth in other public filings (filed under the Company’s profile on www.sedar.com) could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. GreenPower disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. All amounts in U.S. dollars. ©2024 GreenPower Motor Company Inc. All rights reserved.
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SOURCE GreenPower Motor Company
Technology
Announcing the Launch of “JPxData Portal (beta version)”, a Portal Site Comprehensively Covering Data Provided by JPX Group, etc.
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November 15, 2024By
TOKYO, Nov. 14, 2024 /PRNewswire/ — The JPX Market Innovation & Research, Inc., a leading global provider of Japan’s financial market data, promptly began provision of “JPxData Portal (beta version)” (hereinafter referred to as “Website”), a portal site that comprehensively introduces data provided by Japan Exchange Group, Japan Exchange Group companies and partner companies (hereinafter referred to as “JPX Group, etc.”), as of August 2024.
What is JPxData Portal?
JPX Group, etc. currently provide over 200 types of data, which are used by a wide range of users, including investors, brokerage firms, and listed companies. However, JPXI received feedback that it is difficult for users to search through due to the overwhelmingly large amount of data and know what kind of data can be used for what. This feedback led us to the launch of Website providing users with easy access to data they seek and showing how to use the data.
“JPxData Portal” is named after “a data portal site of JPX Group, etc.” and “a place where “Japan (JP)” and “data(Data)” are combined” with the letter “x.” JPXI will aim to develop Website further to make it an easy-to-use site, where any data on the Japanese market are accessible in the future.
Click here for JPxData Portal (beta version): https://clientportal.jpx.co.jp/ClientPortalEN/s/
JPxData Portal Main Features
Product List
Users can search over 200 types of data by using simple keywords such as “stock price,” “derivatives,” “margin trading,” and “ESG.”Users can check the frequency and timing of updates, the period of historical data available, file formats (PDF, CSV, Excel, etc.), and if such data are provided via an API.For some data, sample data and articles on how to use them are also provided.
Use cases
Users can find articles introducing how to use data, including examples of analysis using the data, and the differences among similar data such as stock price data and issue master data with comparison of them.Users can discover related data from an article about data users initially searched for.
Company search
Users can check basic information, timely disclosure information, filing information, corporate governance, and other information about each issue.In addition to company names and codes, users can also search by using keywords such as “cloud” and “digital transformation” based on generative AI technology.The current list of listed issues is available for free download.
Disclosure search
Users can search TDnet disclosures published for the past one year*.
* The latest one is for two business days prior.Users can leverage browser machine translation easily for financial statements and other information disclosed in HTML format. An article on how to use browser’s machine translation features and detailed usage notes is also provided.English tags are attached to Japanese documents to facilitate primary extraction of information so that users easily search for information in English.
Useful links
Users can check a list of useful websites related to the securities market*.
* Currently, only websites managed by JPX Group or related companies are available.)
About JPX Market Innovation & Research
JPX Market Innovation & Research, Inc. (JPXI) was established as a subsidiary of Japan Exchange Group, Inc. (TOKYO:8697) in 2022. It consolidates JPX Group’s data/index services and system-related services, and leads further business enhancement of JPX Group by leveraging IT technologies and new business partnerships.
Contact
Frontier Development Department,
JPX Market Innovation & Research, Inc.
E-mail: inf_dev@jpx.co.jp
Inquiry form: https://clientportal.jpx.co.jp/ClientPortalEN/s/InquiryFormEn
View original content:https://www.prnewswire.com/news-releases/announcing-the-launch-of-jpxdata-portal-beta-version-a-portal-site-comprehensively-covering-data-provided-by-jpx-group-etc-302306517.html
SOURCE JPX Market Innovation & Research, Inc.
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