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Iridium Board of Directors Approves Additional $500 Million Share Repurchase Program; Since Inception Authorizations Now Total $1.5 Billion

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MCLEAN, Va., Sept. 19, 2024 /PRNewswire/ — Iridium Communications Inc. (Nasdaq: IRDM), a leading provider of global voice and data satellite communications, today announced that its Board of Directors has authorized the repurchase of an additional $500 million of Iridium common stock through December 31, 2027. This is the fourth stock repurchase authorization from the Board of Directors in the past four years and brings the total value of the program to $1.5 billion. This $500 million authorization is also the largest ever approved by the Board of Directors, underscoring the strength of Iridium’s business.

Iridium began its share repurchase program with an authorization of $300 million in February of 2021, a second $300 million authorization in March of 2022, and a third authorization of $400 million in July of 2023. Similar to each previous authorization, share repurchases will be executed with the aim of maximizing return on investment for investors. As updated in its second quarter 2024 earnings release, Iridium continues to target net leverage below 4.0 times through 2026 and falling below 2.0 times operational EBITDA by the end of the decade, including the ongoing effects of this repurchase program.

“With the completion of the Iridium® NEXT program, Iridium began generating meaningful free cash flow and committed to implementing shareholder-friendly activities,” said Matt Desch, CEO, Iridium. “In the last few years, we have already returned over a billion dollars through share repurchases and dividends, and this authorization continues the trend, making us one of the most shareholder-friendly companies, not just in Space, but throughout the tech and telecom industries as well.”

The Company repurchase timeframe can be extended or shortened by the Board of Directors, with any potential transactions being made on the open market at prevailing prices or in negotiated transactions off the market.

About Iridium Communications Inc.

Iridium® is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations, and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. In 2024, Iridium acquired Satelles, Inc. and announced the Iridium Satellite Time and Location service. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the Nasdaq Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services, and partner solutions, visit www.iridium.com

Forward-Looking Statements

Statements in this press release that are not purely historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding Iridium’s expectations with respect to the amount and timing of share repurchases and target leverage levels. Forward-looking statements can be identified by the words “anticipates,” “may,” “can,” “believes,” “expects,” “projects,” “intends,” “likely,” “will,” “to be” and other expressions that are predictions or indicate future events, trends or prospects. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Iridium to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties regarding customer demand for Iridium’s products and services, including demand from the U.S. government; Iridium’s ability to maintain the health, capacity and content of its satellite constellation, and the development of and market for Iridium’s products and services, as well as general industry and economic conditions, and competitive, legal, governmental and technological factors. Other factors that could cause actual results to differ materially from those indicated by the forward-looking statements include those factors listed under the caption “Risk Factors” in the Company’s Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission (“SEC”) on February 15, 2024, and the Company’s Form 10-Q for the quarter ended June 30, 2024, filed with the SEC on July 23, 2024, as well as other filings Iridium makes with the SEC from time to time. There is no assurance that Iridium’s expectations will be realized. If one or more of these risks or uncertainties materialize, or if Iridium’s underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Iridium’s forward-looking statements are based on information available to it as of the date of this press release and speak only as of the date of this press release, and Iridium undertakes no obligation to update forward-looking statements.

Press Contact:
Jordan Hassin
Iridium Communications Inc.
Jordan.Hassin@Iridium.com
+1 (703) 287-7421
X: @Iridiumcomm

Investor Contact:
Kenneth Levy
Iridium Communications Inc.
Ken.Levy@Iridium.com
+1 (703) 287-7570

 

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SOURCE Iridium Communications Inc.

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Neusoft Education officially renamed as ” Neutech Group Limited “, accelerating the advancement of the “education-healthcare-wellness and mind tour” strategy in a new stage

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HONG KONG, Jan. 11, 2025 /PRNewswire/ — On 9 January, Neusoft Education (09616.HK) announced that the Company’s English name will change from “Neusoft Education Technology Co. Limited” to “Neutech Group Limited”. The name change will take effect on the same day.

According to the announcement, the Company’s renaming to “Neutech Group Limited” better reflects its strategic transformation and upgrade, and more accurately demonstrates its five-in-one industry layout of “education-healthcare-wellness and mind tour”. This will establish a new corporate brand image and highlight the Company’s comprehensive strength in technological innovation and integrated development. Starting with the name change, the Company will focus on education and adapt to the aging economy, promoting the parallel development of academic education, continuing education, senior education, and resource output. This will create a business model of “education-assisted healthcare, education-assisted wellness, medical-care conversion, medical-education assistance, care-supported medicine, and care-education assistance”. Driven by technology and platform research and development, the company will achieve integrated development of education, medicine, care, health, and tourism, as well as efficient use of human, financial, and material resources. This will build a harmonious and inclusive “education + technology + medical care + health + tourism” prosperous ecosystem. It is expected to further enhance the Company’s brand reputation and industry influence, and support its sustainable development.

Neutech Group, as a pioneer in the “education-healthcare-wellness and mind tour” ecosystem in China, successfully listed on the Main Board of the Hong Kong Stock Exchange on 29 September 2020, becoming the “first stock of IT higher education” (stock code: 9616.HK). With the broad market opportunities brought by the aging population and the positive support of policies for the development of the elderly care industry, the Company leverages its innovative research and development capabilities in “education + technology + medical care” to build a new ecosystem of integrated development of ” education-healthcare-wellness and mind tour”.

In the education technology business sector, the Company will retain the main body of ” Neusoft Education Group” and continue to operate academic education, continuing education, and resource output businesses. Based on IT innovation education, the Company will further develop the “digital media” and “medical care” fields, build an integrated ecosystem of “education-healthcare-wellness”, and consolidate the core competitiveness of education technology in the future. The Company will also establish a characteristic product and service system based on the 4S model, providing first-class platforms, resources, models, and management services to governments, universities, hospitals, and health care institutions, continuously empowering partners’ reform and development.

In the elderly education and elderly care technology business sector, following the concept of “Elderly care starts with prevention, education drives elderly care, and technology empowers elderly care”, the Company has deeply developed elderly education through Neuedu Phoenix Academy and created a unique “LIFECARES” model of integrated elderly education with “leisure, care, medical services, education, and integration”. Using top-notch medical and care services and platform services to empower the elderly to live a happy life, the Company is building a dream university for active seniors. In addition, the Company will strengthen the training of elderly care service personnel by creating a one-stop industry chain of “university training + training + intern + human resource services”. On the other hand, the Company will build a medical and care technology operation service model, create an elderly care solution industrial ecosystem through the output of overall smart elderly care solutions and elderly care technology products and services, and achieve mutually beneficial cooperation with ecological partners.

In the medical and health care service sector, the Company integrates customer management service systems to provide intelligent medical and elderly care information solutions, and create a “medical care and elderly care” integrated development system with treatment-based medical institutions, rehabilitation-based nursing institutions, and care-based elderly care institutions. Its subsidiaries, Ruikang Cardiovascular Hospital, Dalian Ruikang Zhuomei Stomatology Hospital Co., Ltd., and Wecare Family Nursing Home, have been put into operation.

In the wellness tourism sector, targeting energetic seniors, the Company integrates tourism, education, and elderly care into one, with a focus on “leisure learning, slow travel, and peaceful living”. Through the concept of “study-travel-care”, seniors can experience a variety of dimensions of “learning-travel-care” in their travel and learning process, creating a comprehensive elderly education model that provides opportunities for art experiences, promotes physical and mental relaxation, enhances cultural literacy, and expands social interaction.

In addition, the Company expands its industrial management and service sector, with the vision of building a better life and using technology to empower intelligent logistics. It explores diverse, characteristic, and value-added service models to meet the diverse needs of internal and external customers, continuously expanding its brand reputation and social influence.

With its keen market insight and deep accumulation of industry and education resources, Neutech Group Limited actively embraces the development of the silver-haired economy, timely enters new tracks, and improves its position in the industrial ecosystem. Now, the Group’s new layout of “education-healthcare-wellness and mind tour ” has been formed, which not only helps to create a new growth curve but also continuously expands new development margins, moving towards becoming a leader in the development of the “education-healthcare-wellness and mind tour” ecosystem.

CONTACT: Lin Wei, weilin@neuedu.com

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SOURCE Neutech Group Limited

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RoboSense and Coco Robotics Forge Strategic Partnership to Revolutionize Autonomous Last-Mile Delivery

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LAS VEGAS, Jan. 12, 2025 /PRNewswire/ — RoboSense (2498.HK), a global leader in AI-driven robotics technology, and Coco Robotics, an innovator in delivery robots, have announced a strategic partnership to transform last-mile logistics. By combining RoboSense’s advanced sensor technology with Coco Robotics’s delivery solutions, the collaboration aims to enhance safety, efficiency, and sustainability in urban networks.

Coco Robotics bridges the gap between local businesses and customers through advanced navigation and real-time tracking, prioritizing sustainability by reducing carbon emissions and delivery costs. Since its launch in 2020, the company has expanded operations to major U.S. and European cities, forming partnerships with food delivery leaders like Uber Eats and DoorDash to meet the growing demands of modern logistics and support a greener future.

This partnership addresses key challenges in autonomous last-mile delivery by integrating RoboSense’s perception solutions into Coco Robotics’s fleet to enhance navigation and obstacle detection. Together, the companies are accelerating the deployment of delivery robots to optimize efficiency and scale operations.

“We’re thrilled to collaborate with RoboSense to push the boundaries of what’s possible in last-mile delivery,” said Zach Rash, Co-founder and CEO of Coco Robotics. “This partnership strengthens our ability to provide safe, reliable, and sustainable delivery solutions at scale, helping us better serve businesses and communities.”

Mark Qiu, CEO of RoboSense, said, “The successful collaboration with Coco Robotics is one of the key milestones in RoboSense’s global strategy. By combining our visual sensor technology with Coco Robotics’ innovative robotics solutions, we aim to redefine what’s possible in autonomous last-mile delivery. RoboSense will continue to innovate, providing superior incremental components and solutions to our global robotics customers. Partnering with Coco Robotics, we will create safer, smarter robotic delivery services and expand into global markets.”  

About RoboSense

RoboSense (2498.HK), founded in 2014, is an AI-driven robotics technology company that supplies industry-leading incremental components and solutions for the robotics market. The company is committed to “Become the global leader in robotics technology platforms”, and its mission is “Safer world, Smarter life”. For more information about RoboSense, visit https://www.robosense.ai 

About Coco Robotics

Coco Robotics is the world’s largest urban robot delivery platform. Founded in 2020, Coco has completed over 500,000 zero-emission deliveries, serving customers in the US and Europe. Coco’s mission is to create a more sustainable, reliable, and affordable last-mile logistics solution in cities around the world. For more information about Coco, visit cocodelivery.com  

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SOURCE RoboSense Technology Co., Ltd.

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AI Wellness Launches SoCal Fire Relief Initiative to Support Families and First Responders in Southern California

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LOS ANGELES, Jan. 11, 2025 /PRNewswire/ — Demonstrating a commitment to both innovation and compassion, AI Wellness has officially launched the SoCal Fire Relief Initiative to provide aid to families and first responders affected by the devastating fires in Southern California. Unveiled during CES 2025, this initiative aims to deliver critical resources and long-term recovery solutions to the communities hardest hit by this tragedy.

 

Southern California is more than just where we operate—it’s our home,” said Dr. Gideon Kwok, Co-Founder of AI Wellness. “The fires have left countless families without homes, belongings, and hope. This initiative is our way of giving back and rebuilding the lives of our neighbors and the first responders who have worked tirelessly to protect them.”

Let’s Take Action Together

The SoCal Fire Relief Initiative brings together individuals, brands, and organizations to address the urgent and long-term needs of affected communities. In partnership with the Mission Community Hospital Foundation and the Santo Niño Health Center, AI Wellness is leading efforts to:

Provide essential supplies such as food, water, clothing, and medical care to displaced families.Deliver hydration and wellness resources to first responders working on the frontlines.Support long-term community recovery through wellness programs and innovative solutions.

“It is during a crisis that the best of humanity comes out,” said Bernard Hiller. “It’s important for those affected to know they are not alone. This is a huge undertaking that we cannot do without you. These are our friends, neighbors, and family. Please help us.”

How You Can Help

The initiative provides several ways to make a difference:

Donate to Relief Efforts:
Contributions directly fund essential resources for families and first responders.Send Water to Evacuation Centers:
Every purchase of AI Wellness Water helps ensure first responders and displaced families stay hydrated, while also funding continued production and donation efforts.Spread Awareness:
Share the SoCal Fire Relief Initiative with your networks to amplify its reach and inspire collective action.Wellness Bundles:
Wellness bundle purchases such as the Powersuit, Smart Ring, and Mindbody Matrix Water, help support relief efforts with proceeds contributing to recovery initiatives.

DONATE HERE

Real Impact in Action

Since the fires began, AI Wellness and its partners have made a significant impact:

Delivered over 10,000 water packs to evacuation centers and first responders.Distributed 500 wellness bundles to displaced families.Donated proceeds from the first 1,000 AI Wellness Powersuits and 5,000 Smart Rings to relief efforts.Raised $250,000 to support critical aid and recovery.

“This initiative is about more than providing relief,” said Abby Aboitiz Founder of AI Wellness. “It’s about restoring hope and rebuilding our community, together.”

Uniting Brands and Innovators

During CES 2025, AI Wellness called on brands and innovators to collaborate on this critical mission. Companies can contribute by donating resources, partnering on curated wellness bundles, or amplifying awareness for the initiative.

“We’re inspired by the innovation and generosity of the brands we’ve met here at CES,” said Dr. TK Huynh, Medical Innovator at AI Wellness. “Together, we can transform this tragedy into an opportunity to rebuild lives and strengthen our community.”

Join the SoCal Fire Relief Initiative

Support the SoCal Fire Relief Initiative by visiting aiwellness.ai or contacting AI Wellness directly:

Email: info@aiwellness.aiInstagram: @aiwellnesstv

About AI Wellness

AI Wellness is a pioneer in health, wellness, and philanthropy, combining cutting-edge AI technology with innovative solutions to address the most pressing challenges facing communities today. From digital avatars to precision education and curated wellness bundles, AI Wellness empowers individuals and brands to make a meaningful impact.

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SOURCE Assisted Intelligence Wellness, Inc.

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