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Mingzhu Announces Unaudited Financial Results for the Six Months Ended June 30, 2024

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SHENZHEN, China, Dec. 31, 2024 /PRNewswire/ — MingZhu Logistics Holdings Limited (“MingZhu” or the “Company”) (Nasdaq: YGMZ), an elite provider of logistics and transportation services to businesses, today announced its unaudited financial results for the six months ended June 30, 2024.

Mr. Jinlong Yang, CEO of MingZhu, commented, “After the severe negative impact of the COVID downturn, our focus has been on rebuilding our core logistics business. This process has demanded substantial resources, including significant investments and dedicated personnel to meet customer needs. Unfortunately, the additional costs, coupled with higher interest rates, have been amplified by lower sales during the six months ending June 30, 2024, resulting in an increased net loss. Moving forward, our priorities are twofold. First, we are committed to returning sales growth in our core logistics business while reducing operating expenses to improve profitability. While this will take time, we are encouraged by early signs of progress despite uncertainties from rising global tensions. Second, we are prioritizing long-term business diversification to position the company for future success in an evolving market. Our team brings extensive expertise in operating across China, where we have built a reputation as a trusted partner in safely and efficiently transporting goods. We’ve successfully expanded into adjacent opportunities, such as premium liquor distribution, leveraging our logistics infrastructure and partnerships. Looking ahead, we plan to explore additional opportunities that capitalize on our established infrastructure, dedicated ecosystem, and deep local connections to create value for our shareholders.”

Operating Results for the Six Months Ended June 30, 2024

Revenue for the six months ended June 30, 2024, decreased by $33.2 million or 59.2%, to $22.9 million from $56.1 million for the same period as last year.

Total costs decreased by $31.9 million, or 58.6%, to $22.6 for the six months ended June 30, 2024 as compared to $54.4 million for the six months ended June 30, 2023.

Net loss totaled approximately $9.8 million for the six months ended June 30, 2024, as compared to a net loss of approximately $0.9 million for the six months ended June 30, 2023, representing an increase of $8.9 million.

Balance Sheet and Cash Flow

Cash and cash equivalents dropped by $4.0 million to $1.3 million as of June 30, 2024, as we only need to maintain such a smaller balance of cash when our revenues and costs declined.

About MingZhu Logistics Holdings Limited (NASDAQ: YGMZ)

Established in 2002 and headquartered in Shenzhen, China, MingZhu Logistics Holdings Limited is a 4A-rated professional trucking service provider. Based on the Company’s regional logistics terminals in Guangdong Province and Xinjiang Autonomous Region, MingZhu Logistics Holdings offers tailored solutions to our clients to deliver their goods through our network density and broad geographic coverage across the country by a combination of self-owned fleets tractors and trailers and subcontractors’ fleets. For more information, please visit ir.szygmz.com.

Forward-Looking Statements

The statements in this press release regarding the Company’s future expectations, plans and prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding plans, goals, objectives, strategies, future events, expected performance, assumptions and any other statements of fact that have not occurred. Any statements that contain the words “may”, “will”, “want”, “should”, “believe”, “expect”, “anticipate”, “estimate”, “calculate” or similar statements that are not factual in nature are to be considered forward-looking statements. Actual results may differ materially from historical results or from those expressed in these forward-looking statements as a result of a variety of factors. These factors include, but are not limited to, the Company’s strategic objectives, the Company’s future plans, market demand and user acceptance of the Company’s products or services, technological advances, economic trends, the growth of the trucking services market in China, the Company’s reputation and brand, the impact of industry competition and bidding, relevant policies and regulations, fluctuations in China’s macroeconomic conditions, and the risks and assumptions disclosed in the Company’s reports provided to the CSRC (China Security Regulatory Commission). For these and other related reasons, we advise investors not to place any reliance on these forward-looking statements, and we urge investors to review the Company’s relevant SEC filings for additional factors that may affect the Company’s future results of operations. The Company undertakes no obligation to publicly revise these forward-looking statements subsequent to the filing of these documents as a result of changes in particular events or circumstances. 

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SOURCE MingZhu Logistics Holdings Limited

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E Source appoints new CEO

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Experienced executive, Joe Eazor, to lead E Source through its next growth chapter

BOULDER, Colo., Jan. 3, 2025 /PRNewswire/ — E Source, a leading thought partner to electric, gas, and water utilities executives, has appointed Joe Eazor as its new CEO, effective immediately.

Eazor brings a deep knowledge of E Source, having served as a board member for the last two years, and a track record of success guiding multiple culture-driven growth transformations. His career has included roles as a senior partner at McKinsey, senior executive positions at EDS, EMC, and Oracle, and CEO at Rackspace, Earthlink, and Clario.

E Source was acquired by Align Capital Partners (ACP), a lower-middle market private equity firm, in 2019. Since then, through acquisitions and strategic hiring, the company has rapidly grown into a comprehensive strategic partner to utility leaders, offering support on every aspect of the grid and customer operations. Speaking about Eazor’s appointment, Rob Langley, E Source Chairman of the Board of Directors and Managing Partner at ACP, said, “We are thrilled to announce Joe as the new CEO of E Source. Over the past five years of our partnership, E Source has grown revenue by more than 500%, becoming a leading strategic partner to utility executives. Joe’s successful track record of driving commercial success and cultural growth ideally positions him to guide the company through its next exciting chapter.”

Commenting on the announcement, Eazor said, “I am excited to join E Source as CEO. It is an honor to lead such a talented and dedicated team, and I am excited about the journey ahead. Our combination of research, data science, and consulting delivered by proven industry experts is exactly what utility clients need in a time of significant change.”

With a leadership style centered on clarity and culture, Eazor’s immediate priorities include building a cohesive company value proposition for clients alongside reinforcing E Source’s positive and engaged culture. “We have all the necessary elements for success—proven capabilities, industry-leading talent, and stellar client success — at a time when our clients are facing more challenges than ever. Now we have a chance to bring it all together and offer our clients a whole greater than the sum of its parts,” he added.

To learn more about E Source’s offerings and capabilities, visit www.esource.com.

About E Source

E Source combines industry-leading research, data science, and consulting to help utilities make and implement better data-driven decisions that positively impact their customers, their bottom line, and our planet. Headquartered in Boulder, Colorado, E Source has teams across the US and Canada. Learn more at www.esource.com.

Media contact: Adarsh Nalam, Director, Solutions Marketing and Communications, adarsh_nalam@esource.com

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SOURCE E Source Companies LLC

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Children’s Hospital of Philadelphia Researchers Develop New Tool with Potential to Advance Precision Medicine Treatment for Cancer

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Technology Discovers Antigen-Reactive T Cell Receptors with High Efficiency

PHILADELPHIA, Jan. 3, 2025 /PRNewswire/ — Researchers at Children’s Hospital of Philadelphia (CHOP) and the Perelman School of Medicine at the University of Pennsylvania  developed a new screening technology, Aptamer-based T Lymphocyte Activity Screening and SEQuencing (ATLAS-seq), to better identify antigen-reactive T cells that are more likely to offer greater immune responses against cancer cells. The findings were reported this week in the journal Nature Communications.

Researchers continuously work to develop immunotherapy treatments that help the immune system recognize and attack specific protein targets on cancer cells, also known as tumor antigens, thereby training the body to fight cancer more effectively and precisely. Discovering antigen-reactive T cell receptors (TCRs) is essential to this precision medicine approach.

TCRs are protein complexes located on the surface of T cells that recognize and bind to antigen peptides presented by major histocompatibility complex (MHC) molecules, triggering a cascade of cellular responses that lead to T cell activation. However, standard methods for isolating antigen-reactive TCRs often fail to identify TCRs that effectively activate T cells.

“TCRs identified by ATLAS-seq tend to be more efficient in target cell killing than those identified by conventional technologies,” said Lan Lin, PhD, senior author of the study and Assistant Professor in Pathology and Laboratory Medicine at Children’s Hospital of Philadelphia and Penn Medicine. “Overall, ATLAS-seq improves TCR screening to more effectively identify antigen-reactive TCRs with high functional activity.”

The ATLAS-seq technology combines a single-cell approach with an aptamer-based fluorescent molecular sensor that emits a fluorescence signal when a T cell is activated. In the study, the researchers designed a microfluidic system to isolate individual T cells that react to stimulation by an antigen peptide of interest and determined their unique TCR sequences using single-cell sequencing.

“We envision that ATLAS-seq can play a pivotal role in identifying TCRs targeting tumor antigens, driving the development of novel T cell immunotherapies for a broad range of hard-to-treat cancers,” said Lin, who is also a researcher in the Raymond G. Perelman Center for Cellular and Molecular Therapeutics and the Center for Computational and Genomic Medicine at CHOP.

This work was supported by National Institutes of Health grant R01GM121827, W.W. Smith Charitable Trust grant C2004 and a CHOP Research Institute Cell & Gene Therapy Collaborative seed grant.

Luo et al. “ATLAS-seq: a microfluidic single-cell TCR screen for antigen-reactive TCRs.” Nat Commun. January 2, 2025. DOI:10.1038/s41467-024-54675-3.

About Children’s Hospital of Philadelphia: 
A non-profit, charitable organization, Children’s Hospital of Philadelphia was founded in 1855 as the nation’s first pediatric hospital. Through its long-standing commitment to providing exceptional patient care, training new generations of pediatric healthcare professionals, and pioneering major research initiatives, the hospital has fostered many discoveries that have benefited children worldwide. Its pediatric research program is among the largest in the country. The institution has a well-established history of providing advanced pediatric care close to home through its CHOP Care Network, which includes more than 50 primary care practices, specialty care and surgical centers, urgent care centers, and community hospital alliances throughout Pennsylvania and New Jersey, as well as the Middleman Family Pavilion and its dedicated pediatric emergency department in King of Prussia. In addition, its unique family-centered care and public service programs have brought Children’s Hospital of Philadelphia recognition as a leading advocate for children and adolescents. For more information, visit https://www.chop.edu. 

Contact: Jennifer Lee
Children’s Hospital of Philadelphia
(267) 426-6084
leej41@chop.edu

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SOURCE Children’s Hospital of Philadelphia

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embedUR systems Showcases Edge AI Innovations in Collaboration with STMicroelectronics

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Delivering High-Performance Edge AI Solutions on STM32 microcontrollers

SILICON VALLEY, Calif., Jan. 3, 2025 /PRNewswire-PRWeb/ — embedUR systems, a leader in embedded solutions and Edge AI technologies, is proud to join STMicroelectronics’ Authorized Partner program. By leveraging ST’s hardware and software ecosystem, embedUR systems has developed three advanced Edge AI applications for the STM32N6 platform. These applications demonstrate the transformative potential of AI on efficient, compact hardware across diverse industries.

“In a few short weeks, embedUR has been able to demonstrate the incredible potential of edge AI on STMicroelectronics’ components to drive transformative AI solutions across industries.” said Miguel Castro, head of AI strategy & business dev for Americas at STMicroelectronics.

Through this collaboration, embedUR systems not only optimized AI models but also developed, trained, and integrated them to run on ST’s latest STM32N6 microcontrollers complete with the embedded software stack needed for productization. By leveraging deep expertise in STMicroelectronics’ platforms, embedUR is enabling innovative Edge AI applications that pave the way for transformative industry solutions.

Edge AI Solutions

People Detection with Image Segmentation:

embedUR delivers a state-of-the-art Image Segmentation solution for high-speed detection and classification of individuals. This functionality is well-suited for applications such as occupancy counting, presence detection, crowd management, person following and more.

This capability combines:

Adaptation of YOLACT for Neural-ART Accelerator™, the STM32N6’s Neural Processing Unit (NPU): supporting real-time instance segmentation, YOLACT has been optimized for the STM32N6 hardware, ensuring low latency and robust performance.Proprietary optimization techniques: embedUR’s advanced quantization strategies shrink model size by nearly 75% while maximizing speed and accuracy, making it ideal for resource-constrained devices.Enhanced image quality through STM32N6’s Image Signal Processor (ISP): this integration ensures reliable performance across varying lighting conditions and enables the solution to run at 71 FPS.

Facial Recognition with Enrollment:

embedUR’s on-device facial recognition solution combines security and high-speed processing, making it ideally suited to biometric boarding at airports or keyless entry systems, which require stringent standards of security, privacy and performance.

Features include:

embedUR’s UReyeD framework: Enables precise facial detection, keypoint extraction, and embedding generation for fast, accurate recognition.Direct on-device enrollment: Eliminating the need for external infrastructure, this feature enhances privacy and simplifies deployment.Support for large-scale databases with rapid identification: Designed for environments with high user throughput, such as access control and public safety.

Audio Denoising:

embedUR systems has also created an audio denoising solution that runs on STM32N6’s Neural-ART Accelerator (NPU). It incorporates the excellent audio capabilities of the STM32N6 platform with a state-of-the-art audio denoising model to deliver clear speech, even in noisy environments. As systems add speech to text to feed LLMs, denoising will be increasingly used to ensure that LLMs are fed with the most accurate transcription.

Notable characteristics:

embedUR chose an award-winning audio denoising model designed to run on GPUs and then adapted and optimized this for the NPU on the STN32N6.Running the model on the STM32N6 NPU reduces power consumption, increases accuracy, and removes latency needed to make the audio solution work in a variety of high demand and low power environments

Driving Innovation in Edge AI

“This collaboration with STMicroelectronics is a testament to our engineering excellence and ability to bring up AI solutions rapidly and independently on literally any Edge platform (CPU/GPU/NPU),” said Rajesh Subramaniam, CEO of embedUR systems. “We’re proud to demonstrate how efficient, high-performance AI solutions can be realized on the STM32N6 microcontroller, and the myriad applications they can enable.”

“embedUR systems has demonstrated expertise in creating AI technology and optimizing it for our STM32N6 microcontroller, with minimal support required from our engineering teams. Their experience, creativity and efficiency are extraordinary. In a few short weeks, they have been able to demonstrate the incredible potential of edge AI on STMicroelectronics’ components to drive transformative AI solutions across industries.” said Miguel Castro, head of AI strategy & business dev for Americas at STMicroelectronics. “We are pleased to announce that embedUR is a new ST Authorized Partner“.

embedUR systems invites businesses to explore how its expertise and solutions can enable the next generation of Edge AI applications. To learn more, visit www.embedur.ai.

About embedUR systems

embedUR systems is a Silicon Valley-based leader in embedded systems, AI, and Edge Computing. With over two decades of expertise and a proven track record of accelerating product time-to-market for telecom, network equipment, and silicon vendors, embedUR delivers cutting-edge embedded solutions powering millions of devices worldwide. Its ModelNova platform offers pre-trained AI models for seamless integration into intelligent edge systems, enabling AI enthusiasts and afficionados alike to experiment with AI and easily develop proof of concepts with little to no AI modeling expertise, in record time. Browse pre-trained Edge AI models today at modelnova.ai.

Media Contact

Mark Cowtan, embedUR systems Inc., 1 6502098229, marketing@embedur.com, https://embedur.ai 

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SOURCE embedUR systems Inc.

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