Fintech PR
Over 2,100 Vehicles Sold at Ideanomics’ MEG Center in May
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
LONDON, April 24, 2025 /PRNewswire/ — Holiston Media has announced the winners of its first ever Global Crypto Awards, with some of the industry’s big names topping the list!
Covering areas such as digital assets, exchanges and wallets, to crypto trading platforms, technology and payments, the Global Crypto Awards has sought to highlight the success and innovation across the sector with ten top businesses claiming an award.
Comments Archie Humphries, Director at Holiston Media, “We saw an opportunity in the market for a standalone truly independent crypto and digital assets awards. The Global Crypto Awards 2025 celebrate the best product and service providers who are pushing the boundaries of innovation and service in the crypto, digital asset and supporting technology and service spaces.”
“We have been overwhelmed by the reaction to these new awards. There were 69 nominated companies, who in turn received hundreds of votes from those in the industry and we’re very pleased to reveal our ten very worthy winners,” adds Archie.
Best Crypto Payment Services Provider – ForumPay
Best Crypto Provider Global – Binance
Best Crypto Regulation, Legal and Compliance Provider – Chainalysis
Best Crypto Trading Platform – PrimeXBT
Best Crypto Wallet – Coinbase
Best Digital Asset Custodian – Anchorage Digital Bank
Best Digital Asset Exchange – Kraken
Best Mobile Trading Platform/App for Crypto Trading – Revolut
Best Provider of Crypto FinTech – Revolut
Best Provider of Crypto Innovation – BCB Group
Launched in 2018, Holiston Media has built a trusted name for itself in the financial awards sector having seen more than 350,000 public votes cast across its portfolio of renowned awards: Global Forex Awards – Retail, Global Forex Awards – B2B, The Professional Trader Awards and the Online Money Awards.
Now it is offering those in the crypto and digital asset sectors an unmatched opportunity to boost their profile and credibility, whilst increasing their visibility in the industry.
To find out more about these awards visit https://www.globalcryptoawards.com/
View original content:https://www.prnewswire.co.uk/news-releases/holiston-media-winners-of-inaugural-global-crypto-awards-are-revealed-302425527.html
Company Achieves Record-Breaking First-Quarter Revenue
Driven by Balanced Growth in Home Appliance and B2B Sectors
SEOUL, South Korea, April 24, 2025 /PRNewswire/ — LG Electronics Inc. (LG) today announced consolidated revenue of KRW 22.74 trillion and operating profit of KRW 1.26 trillion for the first quarter of 2025. This marks the highest first-quarter revenue in the company’s history and the sixth consecutive year in which operating profit surpassed KRW 1 trillion during the first quarter. Strong performance was driven by qualitative growth across key business areas, especially in B2B, non-hardware segments (such as subscriptions and webOS platform) and direct-to-consumer (D2C) sales.
Vehicle solutions and heating, ventilation and air conditioning (HVAC) – both critical to LG’s B2B strategy and future growth – delivered record-breaking quarterly revenue and operating profit. Combined operating profit from the Vehicle Solution Company and Eco Solution Company increased 37.2 percent year-over-year, with revenue climbing 12.3 percent.
The Home Appliance Solution Company, LG’s flagship business and primary profit generator, also recorded its highest-ever quarterly revenue while maintaining global market leadership. The business is rapidly transforming through innovative models such as subscription services and D2C sales. Meanwhile, the media and entertainment segment demonstrated solid performance, led by continued growth in LG’s webOS-based advertising and content platform.
The LG Home Appliance Solution Company reported first-quarter revenue of KRW 6.70 trillion and operating profit of KRW 644.6 billion. Compared to the same period last year, revenue increased by 9.3 percent, setting a new record, and operating profit grew by 9.9 percent. The Company continues to maintain its market leadership while accelerating the growth of its subscription and D2C sales.
Looking to the second quarter, the Company anticipates increased uncertainty due to shifting global trade policies and increasing market competition. To address these challenges, the Company will expand its portfolio of new and volume-zone products, while deepening its focus on subscription and online businesses. Additional priorities include focusing on opportunities in B2B such as built-in appliances and external sales of key components like motors and compressors. Profitability efforts will center on enhancing cost competitiveness through optimizing operational efficiency.
The LG Media Entertainment Solution Company posted first-quarter revenue of KRW 4.95 trillion and operating profit of KRW 4.9 billion. While TV demand remained soft, growth in webOS-based advertising and content services made a greater contribution to performance. Revenue remained in line with the previous year, though profitability was impacted by rising LCD panel prices and higher marketing spend.
In the second quarter, the Company will seek to create synergies across its display-focused businesses, including TVs, commercial displays, and IT products such as laptops and monitors. While the market recovers slowly, the Company will emphasize profitability, particularly through premium products. The expanding webOS-based platform will aim to increase geographic reach and product base while advancing strategic partnerships with content providers to maintain its growth trajectory.
The LG Vehicle Solution Company recorded its highest-ever quarterly revenue and operating profit, with revenue of KRW 2.84 trillion and operating profit of KRW 125.1 billion. Growth continues to be powered by a robust order backlog totaling KRW 100 trillion. Notably, profitability improved in the in-vehicle infotainment business, where premium product share is steadily increasing. In the second quarter, the Company aims to sustain revenue growth and solidify a stable profit structure by expanding high-value product sales, optimizing operations in the EV component business, and enhancing resource efficiency.
The LG Eco Solution Company also achieved record-high quarterly revenue and operating profit. First-quarter revenue reached KRW 3.05 trillion, with operating profit of KRW 406.7 billion, resulting in a strong operating margin of 13.3 percent. Year-over-year, revenue rose 18.0 percent and operating profit grew 21.2 percent. Since the beginning of 2025, LG has operated its HVAC business as an independent division, with noticeable performance gains driven by efficient resource allocation and a B2B-focused organizational structure.
Alongside the Vehicle Solution Company, the Eco Solution Company serves as a core engine of LG’s B2B growth. In the second quarter, the Company will seek to expand sales of new residential HVAC products and secure commercial air conditioning contracts in emerging markets. It also plans to target large-scale industrial and power-generation projects – including AI data centers – by leveraging its ultra-large chiller solutions.
Logo – https://mma.prnewswire.com/media/2672176/LGE.jpg
View original content:https://www.prnewswire.co.uk/news-releases/lg-announces-first-quarter-2025-financial-results-302437037.html
DUBAI, UAE, April 24, 2025 /PRNewswire/ — Azentio Software, a leading technology enabler in the BFSI space, is proud to announce the opening of newly expanded and upgraded office spaces in Dubai, United Arab Emirates, and Cairo, Egypt, as part of its ongoing growth strategy in the Middle East and Africa region.
While Azentio has maintained a strong presence in both cities for many years, these new offices represent a significant milestone in the company’s regional evolution, reflecting its long-term commitment to closer client engagement, local innovation, and talent investment.
The new Dubai office, located in Business Central Towers in Dubai Internet City (DIC), will serve as Azentio’s Middle Eastern regional hub and a true Center of Excellence for the business, playing a critical role in accelerating growth, driving operational excellence, and supporting clients across the region with even greater proximity and efficiency.
In Cairo, the larger, more sophisticated office space will further strengthen Azentio’s ability to collaborate with financial institutions, insurers, and enterprises, while also supporting local hiring and delivery capabilities.
This regional investment follows closely on the heels of Azentio’s recently expanded offices in Bangalore and Chennai, India, which were also officially unveiled this year. Together, these developments underscore the company’s focus on expanding its operational footprint in high-growth markets and supporting customers with on-the-ground presence and expertise.
“We’ve always believed in being close to our customers, and this next chapter in Dubai and Cairo is a reflection of that philosophy,” said Sanjay Singh, CEO at Azentio Software. “These new spaces are more than just offices, they’re a signal of our intent to double down on our presence in the MEA region and continue to invest in the resources and environments that will help our teams, and our clients, thrive.”
About Azentio
Azentio is a leading provider of purpose-built, intelligence-driven technology solutions designed to transform the banking, financial services, insurance (BFSI), and enterprise resource planning (ERP) sectors. By combining cutting-edge innovation with deep domain expertise, Azentio empowers businesses to accelerate growth, enhance operational efficiency, and stay ahead in a rapidly evolving market. With a strong presence across the Middle East, Africa, and Southeast Asia, Azentio delivers world-class technology that streamlines processes and delivers tangible results, enabling organizations to achieve sustainable success. For more information on Azentio, please visit www.azentio.com.
Logo: https://mma.prnewswire.com/media/2670942/Azentio_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/azentio-deepens-regional-commitment-with-new-flagship-offices-in-dubai-and-cairo-302436000.html
-
Fintech PR5 days agoBybit’s CEO Meets with Vietnam’s Minister of Finance to Support Regulatory Sandbox and Strengthen Crypto Compliance
-
Fintech PR7 days agoDigital Oilfield Market is expected to generate a revenue of USD 38.09 Billion by 2031, Globally, at 5.31% CAGR: Verified Market Research®
-
Fintech PR6 days agoYarbo Secures $27M+ Series B Funding to Accelerate Global Growth, Innovation, and Ecosystem Expansion
-
Fintech PR6 days agoeCig Click Questions Impact of £10 Million Trading Standards Crackdown on Illicit Tobacco and Vaping Trade
-
Fintech PR7 days agoCognoa Advocates for Expanded Insurance Coverage of Canvas Dx as CDC Reports 1 in 31 Children Now Identified with Autism
-
Fintech PR5 days ago“Shanghai Summer”: A Living Case of a Next-Generation Consumer Hub
-
Fintech PR7 days agoCard Payments Market to Reach $38,325.4 billion by 2027 in the short run and $56,379.3 billion by 2033 Globally, at 6.9% CAGR: Allied Market Research
-
Fintech PR5 days agoShanghai Summer: A One-of-a-Kind Seasonal Experience