Fintech PR

Over 2,100 Vehicles Sold at Ideanomics’ MEG Center in May

Published

5 years ago

June 9, 2020

Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”) is pleased to announce that auto dealers operating in its subsidiary, Mobile Energy Global’s (MEG) expo center in Qingdao, have sold 2,139 vehicles for a total value of RMB 235 Million or USD 33 Million. As a reminder, the MEG Center in Qingdao began operations on May 1. Based on the level of sales activity in the first week of June, this month’s sales are expected to exceed May levels. In China, the high season for car buying is from October to January. In its first five weeks of being operational, the dealers at the MEG Center have received high levels of interest, and management is optimistic that it can achieve its previously stated RMB 1 Billion sales target in 2020.

China, much like the rest of the world, has been negatively impacted by the shutdowns resulting from COVID-19. As the country has only begun to relax restrictions last month, many businesses are struggling to recover. The local government provided the facility rent-free to Ideanomics. Management felt that, during these unprecedented times, MEG should support local businesses and passed on savings from the government’s generosity by not charging commissions or rent to its dealers for the month of May. As MEG’s partners strengthen their financial positions, management will gradually implement its fee model starting in mid-June. Note that the May and early June sales were primarily used vehicles, and that MEG will be charging commissions for electric vehicles (EVs) with the manufacturers’ direct sale model. MEG’s total financing solutions will be available starting in July, and with its high-profit margins, should make a meaningful contribution to the Center’s profitability.

“The region loosened restrictions on business activities in early May, so we are very pleased with the Center’s high levels of activity at this early stage. The Center’s solid customer foot traffic indicates that the country’s economy is on a steady path to recovery and there is a strong appetite for passenger and commercial vehicle sales which bodes well for MEG,” said Ideanomics Chairman Dr. Bruno Wu. “The initial activity combined with the projected growth for the remainder of 2020 reinforces our belief that the MEG Center will be a material source of revenue for Ideanomics.”

SOURCE Ideanomics

Related Topics:COVID-19 Ideanomics latest-news

Up Next

Lendified Announces Management Change

Don't Miss

Klarna Launches Vibe: the First Buy Now, Pay Later Shopper Loyalty Program

Click to comment

Fintech PR

Declaration on longevity and precision medicine launched at Abu Dhabi Global Health Week

Published

2 hours ago

April 18, 2025

CISION (PR Newswire)

declaration-on-longevity-and-precision-medicine-launched-at-abu-dhabi-global-health-week

Establishing actionable frameworks to advance precision medicine and longevity science
The declaration highlights the impact longevity and precision medicine can have on supporting healthy communities, and engages leaders to work towards actionable solutions, drive consensus among global peers, and invest in long-term solutions
It brings together leading healthcare and academic institutions to redefine and improve health outcomes while aligning on key global healthcare priorities

ABU DHABI, UAE, April 18, 2025 /PRNewswire/ — A groundbreaking ‘Declaration on Longevity and Precision Medicine’ was launched at Abu Dhabi Global Health Week (ADGHW), marking a historic milestone in the quest to transform healthcare delivery and research worldwide.

As the first initiative of its kind, and developed in collaboration with leading international health organisations, academic institutions, and industry pioneers, the declaration establishes key principles to accelerate the advancement of precision medicine and longevity science.

Speaking at the launch, H.E. Mansoor Ibrahim Al Mansoori, Chairman of the Department of Health – Abu Dhabi (DoH) stated: “Healthy populations lead to healthy communities, stronger social cohesion, and fuels economic growth. This declaration unites global leaders to harness emerging technologies responsibly and deliver the benefits of precision medicine to all. Because health knows no boundaries, we are working together towards actionable and long-term solutions.”

Developed in collaboration with experts worldwide, the declaration aims to drive the adoption of personalised care and promote research into extending healthy lifespans. It highlights the urgency of addressing the widening healthspan-lifespan gap, which currently stands at nearly a decade globally.

The declaration comes at a critical time as the World Health Organization projects the global population aged 60 and older will double to 2.1 billion by 2050. Concurrently, the precision medicine market is expected to grow from $81 billion in 2023 to over $175 billion by 2030.

The United Arab Emirates (UAE) is rapidly emerging as a regional and global leader in the longevity market, driven by pioneering regulatory frameworks, investments in precision medicine, and groundbreaking initiatives such as the world’s first licensed Healthy Longevity Medicine Centre. From $19 billion in 2020, the UAE’s longevity market is estimated to reach $32 billion by 2026.

The declaration outlines bold commitments to advance longevity science, artificial intelligence (AI), driven diagnostics, and personalised therapeutics. It sets forth six key pillars: advancing research and innovation, enhancing collaboration and knowledge-sharing, investing in education and workforce development, advocating for supportive policy and regulation, upholding ethics and responsible practices and engaging the public about longevity research and its implications for health and society.

Signatories who convened at ADGHW to formalise their commitment which was led by DoH included, M42, Masdar City, PureHealth, Illumina, NYU Abu Dhabi, University of Pennsylvania, Aldar, Children’s National Hospital, Burjeel, Children Hospital of Philadelphia, and the Institute for Healthier Living Abu Dhabi (IHLAD).

PwC Middle East, a strategic partner in the initiative, highlighted the global significance of this declaration in advancing global healthcare priorities. Lina Shadid, Health Industries Leader, PwC Middle East stated: “The declaration on longevity and precision medicine provides a global blueprint for integrating AI, genomics, and precision healthcare into mainstream medical practice and within the health ecosystem, to accelerate the adoption of life-changing medical innovations worldwide.

The declaration reflects Abu Dhabi’s ongoing commitment to shaping the future of health through knowledge-sharing, investment in research, and the integration of emerging technologies. By convening global experts and institutions, DoH is ushering a new era of precision medicine —one that prioritises personalised and preventative care, and enhances quality of life for populations worldwide.

Governments, health organisations and relevant stakeholders worldwide are encouraged to sign this declaration. For more information, please visit: https://www.adghw.com/

ADGHW is a major government initiative from DoH and serves as a platform for innovation and collaboration under the theme ‘Towards Longevity: Redefining Health and Well-being.’ It places a strong emphasis on community-driven health and well-being, with a proactive approach centred around preventive, personalised, and holistic care.

For media inquiries or interview opportunities, please contact:
Maroun Farah, Senior Media Relations Manager, Weber Shandwick
E: mfarah@webershandwick.com
T: +971 55 166 2557

For media inquiries, please contact: Mariam Al Marzooqi
msalmarzooqi@doh.gov.ae,
+971 50 536 6660

Photo – https://mma.prnewswire.com/media/2668417/Declaration_on_longevity_precision_medicine.jpg
Logo – https://mma.prnewswire.com/media/2666335/Abu_Dhabi_Global_Health_Week_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/declaration-on-longevity-and-precision-medicine-launched-at-abu-dhabi-global-health-week-302432556.html

Fintech PR

Yarbo Secures $27M+ Series B Funding to Accelerate Global Growth, Innovation, and Ecosystem Expansion

Published

2 hours ago

April 18, 2025

CISION (PR Newswire)

yarbo-secures-$27m+-series-b-funding-to-accelerate-global-growth,-innovation,-and-ecosystem-expansion

NEW YORK, April 18, 2025 /PRNewswire/ — Yarbo, the world’s first year-round multipurpose intelligent yard robot, has successfully closed its Series B funding round, raising approximately $27M USD. The round was backed by a group of strategic and financial investors, bolstering Yarbo’s vision of reimagining how the world handles outdoor work – one season at a time.

This fresh injection of capital will turbocharge Yarbo’s ability to scale mass production, enhance supply chain resilience, and deepen investment in R&D, fuelling faster product optimisation and iteration. The company also plans to accelerate talent acquisition, strengthen liquidity, and push forward with pre-IPO planning as it sets its sights on global expansion and long-term market leadership.

A Decade of Innovation, One Yard at a Time

Founded in 2015, Yarbo began life as Snowbot: targeting the infamously tough task of snow removal, a long-standing pain point for homeowners. Since then, the company has transformed from a niche robotics brand into a global category leader in outdoor automation, now operating under the Yarbo name.

With its signature “1+N” modular design, Yarbo offers year-round functionality powered by one intelligent core robot and a growing family of interchangeable modules. From snow blowing in winter, to lawn mowing in summer, to leaf blowing in autumn, Yarbo has become a household name for those who’d rather relax in their gardens than maintain them.

In 2022, Yarbo’s crowdfunding campaign raised over $3.45M USD, and by 2024, its own direct-to-consumer full-payment pre-order campaign generated 6,000+ orders. With momentum continuing to build, Yarbo expects 4–5x sales growth in 2025, supported by expansion across North America, Europe, Japan, and Australia.

New Trimmer Module Nears Mass Production

Hot off the back of a successful Spring Sale & Robotic Trimmer Launch livestream in early April – where Yarbo moved 702 total units, including 284 trimmers, and raked in over $850,000 in sales within 2 hours – the new Trimmer Module is fast approaching mass production.

Designed to tackle edges, tight spots, and other areas your mower can’t reach, the Trimmer expands Yarbo’s spring and summer capabilities, perfectly complementing the Lawn Mower and Blower modules.

Yarbo’s modular expansion doesn’t stop there. Future modules are in development to cover tasks such as granular or liquid spraying, moving your garbage bins to the curb, dog waste picking, and even fruit harvesting. All without changing the core robot. The goal? A full-spectrum, “1+N” yard ecosystem that meets every seasonal demand and makes yard work a relic of the past.

The Future of Yard Work Is Modular

After a well-received showcase at CES 2025, Yarbo continues to build on its latest product innovations, including:

“Follow Me” Mode – Let Yarbo visually track and follow you, hands-free.
3,500 lbs pulling capacity – Yes, really. From firewood to garden carts.
Quick-swap design – Change tracks, antennas or modules in under 5 minutes.
Halow-powered Data Center – Better connectivity, stronger signal, wider coverage.

Whether it’s clearing leaves, trimming lawn edges, or prepping for a summer BBQ, Yarbo is the robotic outdoor companion for every season. The future looks even brighter (and a lot less back-breaking) for yard owners everywhere.

Interested in trying Yarbo for yourself? We’re happy to arrange media test units, product demos, and interviews to showcase just how easy spring yard work can be. Yarbo is actively recruiting distributors in both North America and Europe. For those interested, please email dealer@yarbo.com or visit www.yarbo.com/become-a-dealer.

For more information on Yarbo, please visit www.yarbo.com.

About Yarbo

Yarbo is the world’s first multi-purpose yard robot, designed to meet over 20 kinds of yard care demands such as snow blowing, lawn mowing, leaf blowing and more. The fully autonomous robot’s core features include all-season yard maintenance, a modular design, data connectivity capabilities, wireless charging, smart route planning, app control and remote control and next-generation smart obstacle avoidance with patented precise positioning and navigation technology. This together provides yard enthusiasts with versatile and easy-to-use options for a stress-free, hands-free yard care experience. Established in 2015, Yarbo’s mission is to create value and make a difference in people’s lives through being the world’s leading intelligent outdoor equipment provider.

For inquiries, please contact:

Kathy Zhang
kathy@yarbo.com

Photo – https://mma.prnewswire.com/media/2667215/Yarbo_Modules.jpg
Logo – https://mma.prnewswire.com/media/2667217/Yarbo_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/yarbo-secures-27m-series-b-funding-to-accelerate-global-growth-innovation-and-ecosystem-expansion-302432550.html

Fintech PR

Bybit launches Crypto Surf: Copy Traders and Bots Battle for 250K USDT

Published

5 hours ago

April 18, 2025

CISION (PR Newswire)

bybit-launches-crypto-surf:-copy-traders-and-bots-battle-for-250k-usdt

DUBAI, UAE, April 18, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is making waves with its latest trading showdown: Crypto Surf: Ride the Waves with Trailing Stops. This high-octane competition invites traders to rally behind either copy trading or trading bots, battling it out for their share of a prize pool worth up to $250,000 in USDT.

Running from April 18 to May 19, 2025, at 12 a.m. UTC, the event introduces a squad-based structure where users choose their camp, trade strategically, and compete across PnL, ROI and trading volume leaderboards. With a dynamic reward structure, participants can also win by predicting which squad will come out on top.

Prize Pool Distribution Highlights:

40% to the champion squad
30% to the runner-up
25% to the top 100 individual traders by volume
5% to users who correctly predict the winning squad

The event brings together the best of both worlds: the strategic finesse of copy trading and the automated power of trading bots. It celebrates innovation, user choice, and the thrill of crypto trading.

Participants must hold a minimum wallet balance of $1,000 in USDT, generate at least $10,000 in squad volume, and complete identity verification Level 1 to qualify. Users can only register for one squad and vote once to predict the winner. Rewards will be distributed within 14 business days of the event’s completion.

The total prize pool will scale in line with event volume milestones, starting at $1.2 billion and unlocking up to $2 billion in traded volume for the full $250,000 in USDT.

Bybit continues to redefine the competitive trading landscape – bringing fun, strategy and serious rewards to its global community.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit’s Communities and Social Media