Technology

TAT Technologies Grows Revenue by 36%, Increases Net Income by 78% and increased adjusted EBITDA by 69%, for the Second Quarter of 2024

Published

4 months ago

August 29, 2024

Company Delivers 7th Consecutive Quarter of Expanding Revenues and Profits

Management Reviews Financial Results and Provides Business Update on Quarterly Webcast

CHARLOTTE, N.C., Aug. 28, 2024 /PRNewswire/ — TAT Technologies Ltd. (NASDAQ: TATT) (TASE: TATT) (“TAT” or the “Company”), a leading provider of products and services to the commercial and military aerospace and ground defense industries, reported today its unaudited results for the three-month and six-month period ended June 30, 2024.

Financial Highlights for the Second Quarter and First Six Months of 2024:

Revenues increased by 36.2% to $36.5 million compared to $26.8 million for the second quarter of 2024. For the first half of 2024 revenues increased by 36% to 70.6$ million compared to $52 million in the first half of 2023.Gross profit increased by 47.1% to $8.0 million compared to $5.4 million for the second quarter of 2023 (21.9% of revenues in Q224 compared to 20.2% of revenues in Q223). For the first half of 2024 gross profit increase by 55.4% to $15.1 million compared to $9.7 million in the first half of 2023 (20.9% of revenues in H124 compared to 18.6% of revenues in H123)Operating Income increased by 78.5% to $2.7 million compared to $1.5 million in Q223, (7.5% of revenues in Q224 compared to 6.5% of revenues in Q223). For the first half of 2024 operating income increased by 99% to $4.9 million compared to $2.5 million in the first half of 2023 (7% of revenues in H124 compared to 4.8% of revenues in H123).Net Income increased by 78% to $2.6 million compared to $1.5 million in the second quarter of 2023. For the first half of 2024 net income increased by 122% to $4.7 million compared to $2.1 million in the first half of 2023.Adjusted EBITDA increased by 69.4% to $4.3 million (11.9% of revenues) compared to $2.6 million (9.6% of revenues) in the second quarter of 2023. Adjusted EBITDA for the first half of 2024 increased by 73% to $8 million compared $4.6 in the first half of 2023 (11.4% of revenues in H124 compared to 9% in H123).Cash flow from operating activities was negative $(4.1) million compared to positive cash flow of $2.5 million in the second half of 2023. Cash flow from operating activities for the first half of 2024 was negative $(7.7) million compared to positive cash flow of $4.2 million in the first half of 2023.

Mr. Igal Zamir, TAT’s CEO and President commented: “We are very proud to report another record quarter marked by revenue growth, margin expansion, and profitability improvement. Our results demonstrate increasing demand for our products and services, which are aligned with our growth strategy. This was the seventh consecutive quarter of growth in revenue and EBITDA, and given our growing momentum and backlog, we expect this trend to continue.”

“During the second quarter, we secured orders of more than $40 million, resulting in a record backlog and LTA Value of over $414 million,” continued Mr. Zamir. “These new orders give us significant visibility into revenue potential over the coming quarters and bolster our confidence in continued success. On top of the continued revenue growth, we invest efforts in improving our operational efficiency and cost structure. This resulted in an improved Gross margin and EBITDA margin.”

“During the first six months of 2024 we started serving APU of the newly certified 131 and 331-500 which serves a fleet of close to 20,000 aircraft (with a total addressable annual market of about $2 billion),” added Mr. Zamir. “The revenue obtained during the first half of 2024 is mainly driven from TAT’s historical products and services. The revenue from these new engines’ capabilities is insignificant. We are very excited about our future revenue growth and profits, as we start leveraging the potential of this new market. We will continue to expand our customer base for those engines MRO services according to our growth strategy”

Shareholder Webcast

Igal Zamir and Ehud Ben-Yeir, TAT’s CEO and CFO, have posted a webcast reviewing the financial results and to provide a business update. Investors interested in accessing the webcast can visit the investor relations section of the Company’s website at https://tat-technologies.com/investors/. The webcast will remain accessible on the website for at least 90 days.

Non-GAAP Financial Measures

To supplement the consolidated financial statements presented in accordance with GAAP, the Company also presents Adjusted EBITDA. The adjustments to the Company’s GAAP results are made with the intent of providing both management and investors a more complete understanding of the Company’s underlying operational results, trends and performance. Adjusted EBITDA is calculated as net income excluding the impact of: the Company’s share in results of affiliated companies, share-based compensation, taxes on income, financial (expenses) income, net, and depreciation and amortization. Adjusted EBITDA, however, should not be considered as alternative to net income and operating income for the period and may not be indicative of the historic operating results of the Company; nor it is meant to be predictive of potential future results. Adjusted EBITDA is not measure of financial performance under generally accepted accounting principles and may not be comparable to other similarly titled measures for other companies. See reconciliation of Adjusted EBITDA below.

About TAT Technologies LTD

TAT Technologies Ltd. is a leading provider of services and products to the commercial and military aerospace and ground defense industries. TAT operates under four segments: (i) Original equipment manufacturing (“OEM”) of heat transfer solutions and aviation accessories through its Gedera facility; (ii) MRO services for heat transfer components and OEM of heat transfer solutions through its Limco subsidiary; (iii) MRO services for aviation components through its Piedmont subsidiary; and (iv) Overhaul and coating of jet engine components through its Turbochrome subsidiary. TAT controlling shareholders is the FIMI Private Equity Fund.

TAT’s activities in the area of OEM of heat transfer solutions and aviation accessories primarily include the design, development and manufacture of (i) broad range of heat transfer solutions, such as pre-coolers heat exchangers and oil/fuel hydraulic heat exchangers, used in mechanical and electronic systems on board commercial, military and business aircraft; (ii) environmental control and power electronics cooling systems installed on board aircraft in and ground applications; and (iii) a variety of other mechanical aircraft accessories and systems such as pumps, valves, and turbine power units.

TAT’s activities in the area of MRO Services for heat transfer components and OEM of heat transfer solutions primarily include the MRO of heat transfer components and to a lesser extent, the manufacturing of certain heat transfer solutions. TAT’s Limco subsidiary operates an FAA-certified repair station, which provides heat transfer MRO services for airlines, air cargo carriers, maintenance service centers and the military.

TAT’s activities in the area of MRO services for aviation components include the MRO of APUs, landing gears and other aircraft components. TAT’s Piedmont subsidiary operates an FAA-certified repair station, which provides aircraft component MRO services for airlines, air cargo carriers, maintenance service centers and the military.

TAT’s activities in the area of overhaul and coating of jet engine components includes the overhaul and coating of jet engine components, including turbine vanes and blades, fan blades, variable inlet guide vanes and afterburner flaps.

For more information of TAT Technologies Ltd., please visit our web-site:
www.tat-technologies.com

Contact:
Mr. Eran Yunger
Director of IR
erany@tat-technologies.com

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements which include, without limitation, statements regarding possible or assumed future operation results. These statements are hereby identified as “forward-looking statements” for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause our results to differ materially from management’s current expectations. Actual results and performance can also be influenced by other risks that we face in running our operations including, but are not limited to, general business conditions in the airline industry, changes in demand for our services and products, the timing and amount or cancellation of orders, [LTAs] and backlog, the price and continuity of supply of component parts used in our operations, and other risks detailed from time to time in the Company’s filings with the Securities Exchange Commission, including, its annual report on form 20-F and its periodic reports on form 6-K. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement.

TAT TECHNOLOGIES AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEET

(In thousands)

Jun 30,

December 31,

2024

2023

(unaudited)

(audited)

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$ 8,058

$ 15,979

Accounts receivable, net of allowance for credit losses of $305

and $345 thousand as of Jun 30, 2024 and December 31, 2023
respectively

26,197

20,009

Restricted deposit

–

661

Other current assets and prepaid expenses

6,722

6,397

Inventory

56,763

51,280

Total current assets

97,740

94,326

NON-CURRENT ASSETS:

Restricted deposit

294

302

Investment in affiliates

2,763

2,168

Funds in respect of employee rights upon retirement

644

664

Deferred income taxes

1,097

994

Property, plant and equipment, net

40,934

42,554

Operating lease right of use assets

2,656

2,746

Intangible assets, net

1,687

1,823

Total non-current assets

50,075

51,251

Total assets

$ 147,815

$ 145,577

LIABILITIES AND EQUITY

CURRENT LIABILITIES:

Current maturities of long-term loans

$ 1,937

$ 2,200

Short term loans

12,547

12,138

Accounts payable

9,079

9,988

Accrued expenses

12,907

13,952

Operating lease liabilities

1,155

1,033

Total current liabilities

37,625

39,311

NON CURRENT LIABILITIES:

Long-term loans

11,970

12,886

Liability in respect of employee rights upon retirement

998

1,000

Operating lease liabilities

1,486

1,697

Total non-current liabilities

14,454

15,583

Total liabilities

$ 52,079

$ 54,894

EQUITY:

Share capital

3,152

3,140

Translation reserves

164

–

Additional paid-in capital

76,512

76,335

Treasury shares at cost

(2,088)

Accumulated other comprehensive income

Retained earnings

17,996

13,269

Total shareholders’ equity

95,736

90,683

Total liabilities and shareholders’ equity

147,815

$ 145,577

TAT TECHNOLOGIES AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except share and per share data)

Three months ended

Six months ended

Year ended

June 30,

December 31,

2024

2023

2024

2023

(Unaudited)

(Audited)

Revenues:

Products

$ 11,732

$ 8,167

$ 23,667

$ 15,458

$ 35,241

Services

24,793

18,637

46,946

36,564

78,553

36,525

26,804

70,613

52,022

113,794

Cost of goods:

Products

7,673

5,548

16,659

11,822

30,517

Services

20,868

15,830

38,904

30,515

60,809

28,541

21,378

55,563

42,337

91,326

Gross Profit

7,984

5,426

15,050

9,685

22,468

Operating expenses:

Research and development, net

343

157

620

256

715

Selling and marketing

1,993

1,298

3,653

2,457

5,523

General and administrative

2,916

2,474

6,225

4,933

10,588

Other income

(2)

(35)

(390)

(441)

(433)

5,250

3,894

10,108

7,205

16,393

Operating income (Loss)

2,734

1,532

4,942

2,480

6,075

Interest expenses

(413)

(440)

(763)

(806)

(1,683)

Other financial income (expenses), Net

106

167

148

353

Income before taxes on income (tax benefit)

2,427

1,259

4,186

1,822

4,745

Taxes on income (tax benefit)

(63)

(109)

(90)

576

Income before share of equity investment

2,383

1,322

4,295

1,912

4,169

Profit of equity investment of affiliated
companies

234

153

432

221

503

Net Income

$ 2,617

$ 1,475

$ 4,727

$ 2,133

$ 4,672

TAT TECHNOLOGIES AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In thousands)

Basic and diluted income per share

Net income per share

$ 0.26

$ 0.16

$ 0.46

$ 0.24

$ 0.52

Net income per diluted shares

$ 0.25

$ 0.15

$ 0.44

$ 0.23

$ 0.51

Weighted average number of shares
outstanding

Basic

10,394,654

8,942,423

10,386,859

8,942,423

8,961,689

Diluted

10,561,420

9,052,163

10,722,153

9,052,163

9,084,022

Three months ended

Six months ended

Year ended

June 30,

December 31,

2024

2023

2024

2023

(Unaudited)

(Audited)

Net income

$ 2,617

$ 1,475

$ 4,727

$ 2,133

$ 4,672

Other comprehensive income , net

Change in foreign currency translation
adjustments

164

–

164

–

Net unrealized income from derivatives

–

(27)

Total comprehensive income

2,781

$ 1,501

$ 4,864

$ 2,159

$ 4,725

TAT TECHNOLOGIES AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(In thousands, except share data)

Share capital

Accumulated

Number of
shares issued

Amount

Additional
paid-in
capital

Translation
reserves

other
comprehensive
income (loss)

Treasury
shares

Retained
earnings

Total equity

BALANCE AT DECEMBER 31, 2022

9,186,019

$ 2,842

$ 66,245

–

$ (26)

$ (2,088)

$ 8,597

$ 75,570

CHANGES DURING THE YEAR ENDED
DECEMBER 31, 2023:

Comprehensive loss

–

4,672

4,725

Exercise of option

32,466

157

–

165

Issuance of common shares net of issuance costs of $141
thousands

1,158,600

290

9,774

–

10,064

Share based compensation

–

159

–

159

BALANCE AT DECEMBER 31, 2023

10,377,085

$ 3,140

$ 76,335

–

$ 27

$ (2,088)

$ 13,269

$ 90,683

CHANGES DURING THE PERIOD ENDED JUN
31, 2024 (unaudited):

Comprehensive profit

164

(27)

–

4,727

4,864

Exercise of option

49,109

(12)

–

Change in foreign currency translation adjustments

–

Share based compensation

189

BALANCE AT JUN 30, 2024 (unaudited)

10,426,194

3,152

76,512

164

–

(2,088)

17,996

95,736

TAT TECHNOLOGIES AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

Three months ended

Six months ended

Year ended

June 30,

December 31,

2024

2023

2024

2023

(Unaudited)

(Audited)

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income

$ 2,617

$ 1,475

$ 4,727

$ 2,133

$ 4,672

Adjustments to reconcile net income (loss) to net cash
provided by (used by) operating activities:

Depreciation and amortization

1,431

901

2,805

1,942

4,710

Loss (gain) from change in fair value of derivatives

–

(9)

Change in funds in respect of employee rights upon
retirement

(27)

(97)

116

Change in operating right of use asset and operating leasing
liability

(3)

–

(6)

Non-cash financial expenses

(274)

(134)

(488)

(248)

(172)

Decrease in restructuring plan provision

(43)

(32)

(63)

(90)

(126)

Change in allowance for credit losses

(2)

(5)

(182)

Share in results of affiliated companies

(233)

(153)

(431)

(221)

(503)

Share based compensation

148

189

120

159

Liability in respect of employee rights upon retirement

(5)

(47)

(2)

(127)

(148)

Capital gain from sale of property, plant and equipment

(1)

(29)

(355)

(485)

(530)

Deferred income taxes, net

306

(98)

(103)

(76)

235

Changes in operating assets and liabilities:

Decrease (increase) in trade accounts receivable

(5,430)

3,137

(6,250)

1,123

(4,205)

Decrease (increase) in other current assets and prepaid
expenses

(144)

359

(325)

1,634

(341)

Increase in inventory

(2,906)

(3,248)

(5,543)

(285)

(5,400)

Decrease in trade accounts payable

(209)

(1,034)

(909)

(2,155)

(245)

Increase (decrease) in accrued expenses and other

591

1,352

(982)

1,062

4,202

Net cash provided by (used in) operating activities from
continued operation

$ (4,100)

$ 2,450

(7,647)

$ 4,219

$ 2,255

CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from sale of property and equipment

–

375

1,306

1,935

2,002

Purchase of property and equipment

(978)

(1,021)

(1,967)

(2,454)

(5,102)

Purchase of intangible assets

–

(479)

Cash flows used in investing activities

$(978)

$ (646)

$ (661)

$(519)

$(3,579)

CASH FLOWS FROM FINANCING ACTIVITIES:

Repayments of long-term loans

(510)

(425)

(950)

(847)

(1,701)

Short-term credit received from banks

4,668

668

1,000

Proceeds from long-term loans received

–

712

Issuance of common shares

–

Proceeds from issuance of common shares, net

–

10,064

Exercise of options

(13)

165

(12)

165

Cash flows provided by (used in) financing activities

$ 4,157

$ (260)

$ (282)

$(682)

$10,240

Net increase (decrease) in cash and cash equivalents and
restricted cash

(921)

1,546

(8,590)

3,018

8,916

Cash and cash equivalents and restricted cash at
beginning of period

9,273

9,498

16,942

8,026

Cash and cash equivalents and restricted cash at the end
of period

8,352

11,044

8,352

11,044

16,942

SUPPLEMENTARY INFORMATION ON INVESTING
ACTIVITIES NOT INVOLVING CASH FLOW:

Additions of operating lease right-of-use assets and
operating lease liabilities

245

–

590

–

1,345

Reclassification of inventory to property, plant and
equipment

–

Supplemental disclosure of cash flow information:

Interest paid

(410)

(267)

(852)

(512)

(1,438)

TAT TECHNOLOGIES AND ITS SUBSIDIARIES

RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA (NON-GAAP)

(UNAUDITED)

(In thousands)

Three months ended

Six months ended

Year ended

June 30,

December 31,

2024

2023

2024

2023

Net income (Loss)

$ 2,617

$ 1,475

$4,727

$ 2,133

$4,672

Adjustments:

Share in results and sale of equity
investment of affiliated companies

(234)

(153)

(432)

(221)

(503)

Taxes on income (tax benefit)

(63)

(109)

(90)

576

Financial expenses (income), net

306

272

755

658

1,330

Depreciation and amortization

1,468

1,006

2,898

2,140

4,902

Share based compensation

148

189

120

159

Adjusted EBITDA

$ 4,349

$ 2,567

$ 8,028

$ 4,740

$ 11,136

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

TAT TECHNOLOGIES LTD.

(Registrant)

By: /s/ Ehud Ben-Yair
Ehud Ben-Yair
Chief Financial Officer

Date: August 28, 2024

Photo – https://mma.prnewswire.com/media/2492171/EBITDA_Q224.jpg
Photo – https://mma.prnewswire.com/media/2492172/revenue_Q224.jpg

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SOURCE TAT Technologies Ltd.

Technology

PURE POWER FOR ALL–VAPORESSO’s Global Movement to Drive Clean Energy Solutions and Sustainable Living

Published

1 hour ago

December 25, 2024

SHENZHEN, China, Dec. 24, 2024 /PRNewswire/ — On December 2nd, VAPORESSO proudly launched its PURE POWER FOR ALL global ECO-Empowerment initiative—a powerful testament to its commitment to advancing clean energy solutions and promoting sustainable lifestyles worldwide. Anchored by the revolutionary ECO NANO SOLAR and the forward-thinking PURE POWER ACTION movement, this initiative seamlessly integrates cutting-edge technological innovation with impactful social action. Together, these efforts mark a pivotal step in the global transition toward clean energy and a more sustainable future.

ECO NANO SOLAR—Revolutionizing Sustainable Vaping in the Industry

At the heart of this initiative lies the industry’s first solar-powered open-system vape—ECO NANO SOLAR. Crafted from 70% eco-conscious materials, this innovative device features a modular structure with interchangeable components, extending product life while promoting resource efficiency and long-term sustainability.

This pioneering ECO innovation combines degradable photovoltaic technology with a recyclable modular design. Its solar panel achieves remarkable light-to-electricity efficiency and is over 80% biodegradable, advancing clean energy adoption while significantly reducing environmental impact. With the ECO NANO SOLAR, VAPORESSO sets a new standard for sustainability in the vaping industry, inspiring a broader shift toward eco-conscious practices and paving the way for a greener future in vaping and beyond.

PURE POWER ACTION: Bridging Online Engagement with Real-World Impact

The PURE POWER ACTION movement, as a key part of the PURE POWER FOR ALL initiative, engages participants worldwide through a series of interactive online activities designed to build momentum for clean energy advocacy. From simple actions like clicking to show support to vibrant community discussions on sustainable living, each activity amplifies the reach of this global movement. Together, these efforts inspire eco-friendly habits, encourage the exchange of ideas, and foster collective commitment through initiatives like the Pure Living Proposal. By empowering individuals to take small, meaningful steps, the movement unites participants in creating a ripple effect of change that transcends geographic boundaries, all while boosting the Pure Power Level—a key measure of progress.

As the Pure Power Level reaches new milestones, the initiative transitions from online engagement to tangible offline impact. Clean energy solutions, including solar-powered innovations, are introduced into vape stores worldwide, offering users hands-on opportunities to experience the convenience and benefits of renewable power sources. These offline activities, supported by the collective efforts of participants, not only bring sustainability to the forefront of the vaping industry but also demonstrate how individual contributions can culminate in meaningful, real-world changes. Through this seamless integration of online and offline efforts, VAPORESSO underscores the importance of unified action in driving the global transition toward a brighter tomorrow.

A Greener Tomorrow Begins Today

With PURE POWER FOR ALL, VAPORESSO demonstrates how ECO innovation and forward-thinking movement can lead to meaningful global impact. The groundbreaking ECO NANO SOLAR stands as a powerful benchmark for ECO innovation, inspiring the adoption of cleaner, more responsible practices in the vaping industry. At the same time, the PURE POWER ACTION initiative fosters a ripple effect of positive change, uniting individuals and communities in a shared mission to embrace sustainable living and advance clean energy solutions. Together, through collective effort and shared commitment, VAPORESSO is not only shaping the future of the vaping industry but also contributing to a healthier, more sustainable world.

For more details about the PURE POWER FOR ALL movement and ECO NANO SOLAR, please visit: https://www.vaporesso.com/activity/pure_power_for_all. Together, we create a brighter, cleaner future for all.

About VAPORESSO

VAPORESSO was founded on the belief that each action is an endeavor to achieve excellence. Our unwavering commitment to surpassing the ordinary has propelled us to become the leading vaping brand globally. We embody a vision where our technology and values merge, crafting a better, cleaner, and more enjoyable life for all.

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SOURCE VAPORESSO

Technology

SWAG, Asia’s Largest Adult Content Platform, Releases 2024 Annual Report

Published

2 hours ago

December 25, 2024

Revealing the Top 15 Searched Keywords in Asia

TAIPEI, Dec. 24, 2024 /PRNewswire/ — SWAG, Taiwan’s largest adult livestreaming platform, often known as the “Pornhub of Asia,” has released the 2024 SWAG Recap today. The report dives into the world of trending adult content, the year’s top searched keywords, and even the income of creators, sparing no details. According to the data, the top searched keyword on SWAG in 2024 was “Vietnam.” Meanwhile, two Taiwanese creators—former Army Chief Counselor “Neinei” and former Sea Dragon Frogman 177—landed in the 3rd and 6th positions as the most searched keywords thanks to their enormous social media buzz. The hashtag with the most clicks went to “Big Boobs.”

In this year’s top searched keyword ranking, “Vietnam” and Vietnamese creator Rosa (@rosababyvip) dominated the top two spots with overwhelming search volume, highlighting the loyalty of Vietnamese enjoyers of SWAG. Meanwhile, keywords like “Ex-Army Chief Counselor Neinei” and “Sea Dragon Frogman 177” maintained high visibility throughout the year, landing them in 3rd and 6th places, respectively.

Analyzing average daily login time by users from different countries, SWAG users spent 15 minutes and 56 seconds per session on average globally, 49 seconds longer than last year. Taiwan emerged as the undisputed champion with an average daily login time of 16 minutes and 21 seconds, the only country above the platform average. On the flip side, Japanese users clocked in at just 11 minutes and 25 seconds, becoming the quickest to reach post-nut clarity. Notably, Vietnamese users soared from last year’s last place to the 4th longest with their online duration time, surpassing users from Singapore and the U.S.

Among SWAG’s nearly 200 hashtags, “Big Boobs” reclaimed its crown from last year’s champion, “Schoolgirl,” becoming the most searched hashtag of the year. “Schoolgirl” fell to 4th, edged out by “Gangbang.” Surprisingly, the long-beloved tag “Creampie” dropped to its record-low position, only ranking 9th.

SWAG noted that nearly 5,000 new creators joined this year, with 40% hailing from Vietnam, making it the country with the most new creators, followed by Taiwan. Among the talents, luna (@rouav) and Jolly (@jollyntr) were crowned as the most popular creator and best newcomer respectively! After a brief hiatus, Luna made a strong comeback by captivating fans with her “natural melons,” “S-line waist,” “perky booties,” and “flawless legs.” Her popularity skyrocketed by 891 spots, earning her the title of SWAG’s Most Popular Creator 2024. The best newcomer, Jolly, who only joined SWAG less than a year ago, gained immense popularity for her housewife aesthetic and NTR-themed content. Fans of the married lady buzzed over her livestreams and videos, where her husband reportedly has been watching helplessly behind the camera, further fueling her meteoric rise.

In other creator data, SWAG’s “Fan Following Clock” is ticking faster than ever! On average, a creator gains a new follower every 5.7 seconds on the platform. Additionally, 8.8% of new creators earn USD 30,000 in less than four months, with Betty (@bettyqueen) achieving this milestone in just three weeks, making her the fastest-earning newcomer of 2024.

Does SWAG make creators rich? The numbers prove everything. This year, Shirley (@shirleybebe) posted a story, which was unlocked by over 3,000 users within 48 hours, earning her approximately $1,500 instantly as the post became the most profitable story of 2024. Best Newcomer Jolly also delivered impressive results. After debuting in May, one of her long videos attracted over 2,000 viewers, earning her $17,000 just from that one single upload.

When it comes to SWAG’s most lucrative money-making features, livestreaming and private messaging definitely top the list. For example, when Grape (@stellajs) hosted her birthday livestream this year, she generated USD 37,000 in just three hours. Meanwhile, Nini Baby (@ninibaby), well-known for her private chats, sent 380,000 text messages to users this year, receiving 85,000 replies and countless chat gifts. Her private messaging income alone earned a staggering USD 490,000 in revenue, a 17% increase from last year, securing her throne as SWAG’s Queen of private chat.

《2024 SWAG Recap》: https://swag.live/blog/en/swag_2024_recap/

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SOURCE SWAG

Technology

Higer New V Series, Leading Bus New Trend

Published

3 hours ago

December 25, 2024

SUZHOU, China, Dec. 24, 2024 /CNW/ — In November 2024, Higer New V Series buses officially launched in the Philippines, this batch of electric buses was the first batch of new energy buses introduced by the Philippines and put into commercial operation. And it has aroused extensive attentions and heated discussions from the Philippines local government, media and people.

Higer New V Series products were launched globally in March 2024, and then made a stunning debut at the Higer Global Partners Conference. The New V-series products with a new shape and a new platform are committed to creating new classic models with high quality, high safety and high intelligence.

In 3 years, more than 1000 people participated in the process of R&D, a one-time investment of more than 100 million yuan was made in the R&D and manufacturing of key components, equipment, tooling, molds, inspection tools, verification of components and vehicle, achieving comprehensive innovation, realizing a significant improvement in product quality and reliability, maintenance convenience and customer experience. Measuring from 8 to 13 meters in length, they can be powered by fossil fuels, electricity, hydrogen, etc. and are readily adaptable for the tourist transportation market, urban public transportation market, etc. The luggage compartment volume is 21.6% greater than similar products, the seating space is 50mm larger, and the middle aisle is 30mm wider. The overall component universality rate was greatly improved by the platform, modular, and universal design concept, and the number of component types decreased by 58%.

It is worth mentioning that Higer is committed to creating a technological experience, redefining the domain-centralized electronic and electrical architecture, and Higer launched the industry’s first mass-produced intelligent cabin. It will help the driver concentrate on driving. The new model provides a mobile phone control interface, drivers and tour guides can control lighting, multimedia, air conditioning, etc. through app. In addition, the intelligent cabin can be customized according to the operational needs of the transport company, realizing intelligent dispatching, intelligent charging, intelligent maintenance, AI interaction, and human-computer interaction.

So far, Higer new V series coaches have already received orders from more than 20 countries like Italy, Qatar, UAE, Saudi Arabia, Algeria and etc., showing a fast rising popularity in the international market.

Higer new V series are committed to providing customers with new “classic models” with better quality, higher efficiency, achieving sustainable development and exploring more possibilities.

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SOURCE HIGER