SHENZHEN, China , Nov. 1, 2024 /PRNewswire/ -- Big Tree Cloud Holdings Limited ("Big Tree Cloud" or the "Company") (NASDAQ: DSY) (NASDAQ: DSYWW), a company devoted to the development, production, and sales of personal care products and other consumer goods in China, today announced that its board of directors has approved the adoption of the Big Tree Cloud Holdings Limited 2024 Equity Incentive Plan (the "Plan"). Under the Plan, the Company will be permitted to grant share options, restricted shares, restricted share units, and similar equity-based compensation for the purpose of attracting, retaining, and incentivizing qualified directors, employees, franchisees and other individuals. The maximum number of shares which may be issued or issuable under the Plan is limited to 20% of the Company's issued and outstanding ordinary shares as of the date of the approval of the Plan, to be increased on the first day of each fiscal year of the Company during the term of the Plan commencing with the fiscal year beginning July 1, 2024, by an amount equal to 1.0% of the total number of issued and outstanding ordinary shares on the last day of the immediately preceding fiscal year.

About Big Tree Cloud

Big Tree Cloud is a consumer-oriented and mission-driven company dedicated to the development, production and sales of personal care products and other consumer goods in China. Founded in 2020, Big Tree Cloud is committed to delivering high-quality products that cater to the needs of modern, health-conscious, and independent consumers. Big Tree Cloud's innovative approach and strong community engagement set it apart in the industry, making it a trusted brand in the personal care market.

Forward-Looking Statements 

This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Big Tree Cloud's future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "going to," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern Big Tree Cloud's expectations, strategy, priorities, plans or intentions. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that the predictions, forecasts, projections and other forward-looking statements will not be achieved. You should understand that a number of factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements, including the risks set forth under "Risk Factors" in our Registration Statement on Form F-4 and our other SEC filings. Big Tree Cloud cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Big Tree Cloud does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

Investor Relations Contact
Ting Yan
Phone: +86 15986815865
Email: yanting@bigtreeclouds.com 

Sale not expected to impact FY25 financial outlook
Proceeds to be used to reduce debt

ZURICH, Nov. 1, 2024 /PRNewswire/ -- Amcor (NYSE: AMCR, ASX: AMC), a global leader in developing and producing responsible packaging solutions, announced today it has entered into an agreement to sell its 50% interest in Bericap North America (BCNA) for $122 million. Established in 1997, BCNA is a 50/50 joint venture between Amcor Rigid Packaging and Germany-based Bericap that manufactures closures for beverage, food and industrial end markets in three facilities in the U.S., Canada and Mexico.

Fiscal 2024 total sales for the joint venture were approximately $190 million and Adjusted EBIT was approximately $19 million, both of which were fully consolidated under Amcor's Rigid Packaging business. Adjusted net income attributable to Amcor was approximately $8 million. Upon closing on or before December 31, 2024, cash proceeds will be used to reduce debt. Net of a resulting reduction in interest expense, the transaction is not expected to have an impact on Amcor's financial outlook for fiscal 2025. 

Amcor CEO Peter Konieczny commented, "We've had a long and respectful relationship with Bericap over the past 27 years. At this juncture, we have chosen to unwind the joint venture given differing views on near-term capital requirements and resulting returns. While Amcor continues to operate in the closures space as it remains a category of interest, we are committed to maintaining our disciplined approach to capital allocation. We thank the Bericap team for the many years of partnership and we wish them well for the future."

About Amcor

Amcor is a global leader in developing and producing responsible packaging solutions across a variety of materials for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect products, differentiate brands, and improve supply chains. The Company offers a range of innovative, differentiating flexible and rigid packaging, specialty cartons, closures and services. The company is focused on making packaging that is increasingly recyclable, reusable, lighter weight and made using an increasing amount of recycled content. In fiscal year 2024, 41,000 Amcor people generated $13.6 billion in annual sales from operations that span 212 locations in 40 countries. NYSE: AMCR; ASX: AMC 
www.amcor.com I LinkedIn I YouTube

Cautionary Statement Regarding Forward-Looking Statements

This document contains forward-looking statements regarding Amcor. Such statements are based on the current expectations of the management of Amcor and are qualified by the inherent risks and uncertainties surrounding future expectations generally. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties. Neither Amcor nor any of its respective directors, executive officers, or advisors, provide any representation, assurance, or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur. Risks and uncertainties that could cause actual results to differ from expectations include, but are not limited to: changes in consumer demand patterns and customer requirements in numerous industries; the loss of or reduction of demand from key customers; significant competition in the industries and regions in which we operate; an inability to expand our current business effectively through either organic growth, including product innovation, investments, or acquisitions; challenging global economic conditions; impacts of operating internationally; price fluctuations or shortages in the availability of raw materials, energy, and other inputs which could adversely affect our business; production, supply, and other commercial risks, including counterparty credit risks, which may be exacerbated in times of economic volatility; pandemics, epidemics, or other disease outbreaks;; a significant increase in our indebtedness or a downgrade in our credit rating could reduce our operating flexibility and increase our borrowing costs and negatively affect our financial condition and results of operations; rising interest rates that increase our borrowing costs on our variable rate indebtedness and could have other negative impacts; foreign exchange rate risk; a significant write-down of goodwill and/or other intangible assets; a failure to maintain an effective system of internal control over financial reporting; an inability of our insurance policies, including our use of a captive insurance company, to provide adequate protection against all of the risks we face;; and other risks and uncertainties are supplemented by those identified from time to time in our filings with the Securities and Exchange Commission (the "SEC"), including without limitation, those described under Part I, "Item 1A - Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024 and as updated by our quarterly reports on Form 10-Q. You can obtain copies of Amcor's filings with the SEC for free at the SEC's website (www.sec.gov). Forward-looking statements included herein are made only as of the date hereof and Amcor does not undertake any obligation to update any forward-looking statements, or any other information in this communication, as a result of new information, future developments or otherwise, or to correct any inaccuracies or omissions in them which become apparent, except as expressly required by law. All forward-looking statements in this communication are qualified in their entirety by this cautionary statement.

Presentation of non-GAAP information

Included in this release are measures of financial performance that are not calculated in accordance with U.S. GAAP. These measures include adjusted EBIT (calculated as earnings before interest and tax) and adjusted net income.  In arriving at these non-GAAP measures, we exclude items that either have a non-recurring impact on the income statement or which, in the judgment of our management, are items that, either as a result of their nature or size, could, were they not singled out, potentially cause investors to extrapolate future performance from an improper base. Amcor also evaluates performance on a comparable constant currency basis, which measures financial results assuming constant foreign currency exchange rates used for translation based on the average rates in effect for the comparable prior year period. In order to compute comparable constant currency results, we multiply or divide, as appropriate, current-year U.S. dollar results by the current year average foreign exchange rates and then multiply or divide, as appropriate, those amounts by the prior-year average foreign exchange rates. We then adjust for other items affecting comparability. While not all inclusive, examples of items affecting comparability include the difference between sales or earnings in the current period and the prior period related to disposed, or ceased operations. Comparable constant currency net sales performance also excludes the impact from passing through movements in raw material costs.  Management has used and uses these measures internally for planning, forecasting and evaluating the performance of the Company's reporting segments and certain of the measures are used as a component of Amcor's Board of Directors' measurement of Amcor's performance for incentive compensation purposes. Amcor believes that these non-GAAP measures are useful to enable investors to perform comparisons of current and historical performance of the Company. These non-GAAP financial measures should not be construed as an alternative to results determined in accordance with U.S. GAAP. The Company provides guidance on a non-GAAP basis as we are unable to predict with reasonable certainty the ultimate outcome and timing of certain significant forward-looking items without unreasonable effort.  These items include but are not limited to the impact of foreign exchange translation, restructuring program costs, asset impairments, possible gains and losses on the sale of assets, and certain tax related events. These items are uncertain, depend on various factors, and could have a material impact on U.S. GAAP earnings and cash flow measures for the guidance period.

SHENZHEN, China, Nov. 1, 2024 /PRNewswire/ -- Big Tree Cloud Holdings Limited ("Big Tree Cloud" or the "Company") (NASDAQ: DSY) (NASDAQ: DSYWW), a company devoted to the development, production, and sales of personal care products and other consumer goods in China, today announced  the following changes in directors of the Company and members of the board committees of the Company, each of which took effect on October 31, 2024:

(a) the resignation of each of Yifan He, Yanjie ZHU and Fengxin ZHANG (collectively, the "Departing Directors") as an independent director of the Company due to his/her personal reason;

(b) the appointment of each of Guo REN, Jiahe LIAO and Munwah WAN (collectively, the "Additional Directors") as an independent director of the Company;

(c) the appointment of each of the Additional Directors as a member of the audit committee of the Company, with Jiahe LIAO being appointed as the chairman and audit committee financial expert;

(d) the appointment of each of the Additional Directors as a member of the nominating and  corporate governance committee of the Company, with Munwah WAN being appointed as the chairman;

(e) the appointment of each of the Additional Directors as a member of the compensation committee of the Company, with Guo REN being appointed as the chairman;

The Departing Directors' resignations are not a result of any disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company.

The board of directors of the Company has determined that each Additional Director meets the criteria for independence set forth in Rule 10A-3(b)(1) under the Securities Act (subject to the exemptions provided in Rule 10A-3(c) thereunder) and the rules and regulations of Nasdaq Stock Market and/or the Securities and Exchange Commission and will be determined and deemed to be an independent director under the listing standards of Nasdaq Stock Market.

About Big Tree Cloud

Big Tree Cloud is a consumer-oriented and mission-driven company dedicated to the development, production and sales of personal care products and other consumer goods in China. Founded in 2020, Big Tree Cloud is committed to delivering high-quality products that cater to the needs of modern, health-conscious, and independent consumers. Big Tree Cloud's innovative approach and strong community engagement set it apart in the industry, making it a trusted brand in the personal care market.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Big Tree Cloud's future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "going to," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern Big Tree Cloud's expectations, strategy, priorities, plans or intentions. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that the predictions, forecasts, projections and other forward-looking statements will not be achieved. You should understand that a number of factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements, including the risks set forth under "Risk Factors" in our Registration Statement on Form F-4 and our other SEC filings. Big Tree Cloud cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Big Tree Cloud does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

Investor Relations Contact
Ting Yan
Phone: +86 15986815865
Email: yanting@bigtreeclouds.com 

SAN FRANCISCO, Nov. 1, 2024 /PRNewswire/ -- Bifrost AI, a Generative 3D Data platform, raised $8 million in Series A funding to meet the growing demand for AI training data and 3D simulations. Its physically accurate data generation engine provides the vast real-world scenarios crucial in rapidly training, testing and adapting models in AI and Robotics. The round was led by Carbide Ventures, with participation from Airbus Ventures, Peak XV's Surge (formerly Sequoia Capital India & SEA), Wavemaker Partners, MD One, and Techstars. The capital will be used to accelerate the commercialization of Bifrost's product for heavy industries such as aerospace, maritime, manufacturing, and national security.

Today's pressing challenges, such as labor shortages and escalating geopolitical tensions, primarily exist in the physical world. While AI has thrived in the digital realm, its potential in the physical domain remains untapped due to a lack of domain-specific training datasets. More than 95% of enterprises struggle to obtain high-quality training data at scale, often pouring millions into sensor deployments and dedicating months to manual data labeling—only to face uncertain outcomes. This struggle is one of the biggest barriers to effectively implementing AI systems in the physical world.

Bifrost's software platform changes this by allowing teams to generate datasets in minutes using simulated 3D worlds. This allows teams to build new AI capabilities faster than ever, teach robots how to solve real-world problems, and adapt to new objects, tasks, and environments in hours instead of months.

Bifrost's breakthroughs in Generative AI and 3D graphics allow users to create realistic, industry-specific data & scenarios at scale—no 3D expertise needed. Designed for AI developers, the platform offers fully controllable real-time 3D worlds in supercharged Jupyter notebooks. Traditional 3D simulators often fail to deliver realism, while 2D generative AI lacks the nuanced control necessary for sophisticated applications. Bifrost bridges this gap with a hybrid approach, combining an unprecedented level of precision with realism. Users harness a powerful Python library to program every element of their 3D worlds, from camera movements to environmental conditions, automating and fine-tuning their simulations with ease.

This has enabled their customers to build new Physical AI capabilities faster than ever. Autonomous boats that can safeguard shipping lanes from piracy, industrial robots that can assemble new parts with unmatched efficiency, and drones that can inspect thousands of electrical grids for defects—all without human intervention. These systems serve as a vital link that allows digital systems to engage with the real world.

After LLMs and image generators, Physical AI represents AI's most important frontier yet.  However, building these systems is incredibly hard. Bifrost is making this process faster, cheaper, and more reliable, so teams can focus on what matters: solving real-world problems with AI.

"We work with some of the most technically demanding organizations in the world, solving some of the toughest problems. This includes major U.S. government organizations and leading enterprises in heavy industry. One example is NASA JPL, with whom we have been collaborating on several initiatives, including data generation engines for Moon and Mars exploration," said Charles Wong, Co-founder and CEO of Bifrost AI.

"The market for robotics and autonomous systems is rapidly increasing. In the future, AI development will rely increasingly on synthetic data instead of real data. We believe the Bifrost team is uniquely positioned to enable this opportunity by bridging the data , allowing systems to be trained more efficiently and quickly by an order of magnitude. We expect their approach will unlock new use cases and opportunities, enabling AI to transform our physical world", said Stephen Lee, General Partner at Carbide Ventures.

"As AI becomes increasingly prevalent, actively deployed across commercial and defense-related applications at an unprecedented scale, Bifrost stands out as a trusted partner, ready to support teams working on advanced robotics and autonomous systems," adds Thomas d'Halluin, Airbus Ventures Managing Partner. "We are confident that Bifrost AI will unlock exceptional value at the intersection of 3D generative AI, advanced simulation, and design, which is already being used by major U.S. government organizations and leading global enterprises in heavy industry."

"One of the fundamental challenges in AI and robotics is generalization—the ability to learn new skills and handle a variety of scenarios and tasks. Traditionally, adapting to new tasks could take months. But with Bifrost, that timeline has shrunk to just hours. This acceleration enables teams to build AI systems that can tackle a wider range of problems, unlock larger markets, and generate more revenue with less upfront data acquisition cost." Aravind SK, co-founder and CTO of Bifrost AI.

Read more about us at bifrost.ai

Bifrost AI - Synthetic Data

Video - https://www.youtube.com/watch?v=lv-0ELTZWWY
Logo - https://mma.prnasia.com/media2/2545636/Bifrost_AI_Logo.jpg?p=medium600
Photo - https://mma.prnasia.com/media2/2545637/Maritime_Data_with_Annotation.jpg?p=medium600

Citrea is the first to expand Bitcoin from a passive store of value to an active, programmable asset by introducing a secondary layer solution using zero-knowledge technology.

GEORGE TOWN, Cayman Islands, Oct. 31, 2024 /PRNewswire/ -- Citrea , the first solution to make it possible to build anything on Bitcoin, today announced its $14M Series A funding round, led by Peter Thiel's Founders Fund, with participation from Erik Voorhees, Balaji Srinivasan, Jameson Lopp, Maven11, and other prominent angel and venture investors. Citrea has also launched its exclusive developer program, 'Citrea Origins ', bringing together a select group of developers to build applications on Citrea—the only platform for expanding Bitcoin's utility.

Citrea Series A Funding Round

Bitcoin's global adoption has solidified its role as "digital gold", but its broader financial potential has remained untapped due to the lack of a scalability solution that maintains its core principles. This gap has forced users to either keep Bitcoin as a passive store of value or rely on custodians for broader use. This adoption undermines Bitcoin's role in decentralized finance. Without a proper scalability solution, Bitcoin risks losing its relevance in decentralized finance and becoming obsolete as a network.

Citrea is the first Bitcoin scalability solution to expand Bitcoin's utility without compromising its decentralization or security. Citrea enhances the capabilities of Bitcoin blockspace with zero-knowledge technology and enables the Bitcoin network to support diverse on-chain applications and platforms. By eliminating the need for intermediaries, Citrea allows users to trustlessly buy, leverage, lend, borrow, and use BTC—transforming Bitcoin from a passive store of value into an active financial tool.

"Citrea is a major milestone in the timeline of Bitcoin's evolution and the first investment we've made in the Bitcoin ecosystem," said Joey Krug , Partner at Founders Fund. "With the strongest team and best technical design we've seen in the Bitcoin L2 space, Citrea's 0→1 technology enables Ethereum-like rollups for smart contracts on Bitcoin in a trust-minimized way."

"For the past 18 months, we've been building the infrastructure Bitcoin needs to move beyond just a store of value and step into a new era of Bitcoin-backed decentralized finance," said Orkun Kilic , co-founder and CEO of Chainway Labs. "Citrea combines breakthroughs in cryptography with rigorous engineering to make this vision a reality. Bitcoin not only enables a borderless economy but also serves as the foundation for a censorship-resistant monetary layer. Our mission is to lay the foundation and ecosystem required to drive global hyperbitcoinization."

About Citrea

Citrea is the first rollup that increases BTC's utility and activates Bitcoin blockspace for a new decentralized financial ecosystem. Citrea's vision is to build scalable infrastructure that advances Bitcoin into its next phase: the foundation for the world's finance.

Apply for the developer program 'Citrea Origins '.

For more information, please visit: Citrea website   | Citrea X Account

About Chainway Labs

Chainway Labs, the company building Citrea, was co-founded by four young computer scientists and entrepreneurs with a focus on Bitcoin, Ethereum, and zero-knowledge technology.

The Mint earns coveted industry recognition for the world's first double-sided colour circulation coin for the Central Bank of the Bahamas and its environmentally responsible bronze plating process

OTTAWA, ON, Oct. 31, 2024 /PRNewswire/ -- The Royal Canadian Mint is delighted to have won two prestigious Excellence in Currency awards at the International Association of Currency Affairs' (IACA) 2024 Coin Conference in Lisbon, Portugal. The Mint was first recognized alongside the Central Bank of The Bahamas with the Best New Commemorative or Test Circulating Coin award for a world-first circulation coin featuring high-resolution colour on both the obverse and reverse of a coin marking the central bank's 50^th anniversary. As well, the Mint's new, environmentally responsible process for plating bronze-coloured circulation coins earned the Best new coin product, process or manufacturing innovation award.

"The Royal Canadian Mint is dedicated to advancing the art and science of coin manufacturing, not just for Canada and Canadians, but also for the benefit of the global currency industry," said Marie Lemay, President and CEO of the Royal Canadian Mint. "To be recognized in two award categories by IACA is a tremendous peer endorsement of our pursuit of innovation, which delivers great value for circulation coin users around the world and helps us find more caring and sustainable ways to produce our industry-leading products."

The 2024-dated 25-cent circulation coin celebrates the 50^th anniversary of the Central Bank of The Bahamas. It was produced in collaboration with the Royal Canadian Mint, that applied its proprietary colour pad-printing technology to both sides of this ground-breaking coin.  The obverse features the Coat of Arms of The Bahamas together with the words "Commonwealth of The Bahamas" which forms a crown around the Coat of Arms. Elements of the Coat of Arms are painted blue, white, pink, and green, highlighting the blue marlin, flamingo, and conch shell. On the reverse is a rendering of a native sloop, infused with red, white, and brown paint, in sea painted blue, near an island, accompanied by the inscriptions "THE CENTRAL BANK OF THE BAHAMAS", "50th ANNIVERSARY 1974-2024". In addition to entering general circulation on June 3, 2024, this coin was also made available to collectors in custom packaging.

The Mint also developed and successfully scaled up a new electroplating process that is transforming the manufacturing of bronze plated circulation products by eliminating the use of cyanide required in traditional plating as well as harsh chemicals needed to treat waste water to municipal standards, and improving employee health and safety. The Mint's new chemistry safely and reliably produces plated materials for both bronze mono-colour coins, as well as bi- or tri-metallic coins typically used for higher denominations.

The Excellence in Currency Awards were introduced by IACA in 2007 to promote and recognise excellence in currency issue, production, processing, management and distribution. The Mint is proud to have been recognized through several previous awards, most recently:

• The Best New Circulating Coin or Coin Series for its bi-metallic $2 circulation coin featuring a world-first black nickel-plated outer ring issued in honour of the late Queen Elizabeth II (2023);
• The Best New Commemorative or Test Circulating Coin for the Barbados $1 Glow-in-the-Dark Flying Fish circulation coin (2022);
• The Best Currency Initiative Implemented in Response to the Covid-19 Pandemic (Other Organization) special award for the Recognition Medal honouring Canada's front-line workers and community difference makers (2021);
• Our tri-metal token technology, under the Best new coin product, feature or distribution innovation category (2019)
• our Canada 150 commemorative circulation coin program in the Best New Communications Program category (2017); and
• joint recognition with the Reserve Bank of New Zealand for New Zealand's 50-cent Anzac 100^th anniversary coloured circulation coin, in the Best New Commemorative or Test Circulating Coin category (2015).

Images of the Central Bank of the Bahamas circulation coin can be found here.

About the Royal Canadian Mint
The Royal Canadian Mint is the Crown corporation responsible for the minting and distribution of Canada's circulation coins. The Mint is one of the largest and most versatile mints in the world, producing award-winning collector coins, market-leading bullion products, as well as Canada's prestigious military and civilian honours. As an established London and COMEX Good Delivery refiner, the Mint also offers a full spectrum of best-in-class gold and silver refining services. As an organization that strives to take better care of the environment, to cultivate safe and inclusive workplaces and to make a positive impact on the communities where it operates, the Mint integrates environmental, social and governance practices in every aspect of its operations. 

For more information on the Mint, its products and services, visit www.mint.ca. Follow the Mint on LinkedIn, Facebook and Instagram.

About IACA
Working hand in hand with the public and private sector, IACA's goal is to provide an international exchange for consultation and collaboration on matters of interest to stakeholders in the cash payments cycle and to give back to the industry through the benefits provided from our various project work, programs and information resources. Member companies include all stakeholders in the cash payments cycle, including: central banks; currency issuing authorities; ministries of finance; state and commerical printworks; state and commercial mints; cash management companies; currency industry suppliers and cash handling suppliers.

For more information, please contact:
Alex Reeves
Senior Manager, Public Affairs
(613) 884-6370
reeves@mint.ca

HONG KONG, Oct. 31, 2024 /PRNewswire/ -- Caravelle International Group (Nasdaq: HTCO), a global ocean technology company, today announced its Condensed Interim Unaudited financial results for the period ended April 30, 2024.

During the reported period, Caravelle achieved revenue of approximately $35 million with income from operation of approximately $150,000, which is a significant improvement compared to an operational loss of $7 million for the same period in the financial year of 2023.

Mr. Hanxi Chang, CEO of Caravelle, stated, "In 2024, through optimizing our business structure and enhancing operational efficiency, we successfully turned around operational losses despite continued weak demand in the freight sector. As governments, particularly in the EU, further strengthen their commitment and regulations to reduce carbon emissions in the shipping industry, we believe that the market value for addressing these emissions will approach $10 billion over the next five years. The new directors and officers are in discussions with leading companies in the fields of carbon capture, usage and storage (CCUS) to explore collaboration on the application of the technology on ships.

Drawing on our years of experience and extensive network in the shipping industry, we are confident in our ability to become a leading provider and operator of on-board carbon capture (OCC) solutions. We are committed to pioneering innovative and viable methods for reducing greenhouse gas emissions while creating long-term value for our shareholders."

About Caravelle International Group

Caravelle is a global ocean technology company with businesses in international shipping and marine carbon neutrality. The company is committed to improving shipping efficiency through innovative technologies and promoting sustainable development in the industry. Caravelle is headquartered in Singapore.

Forward Looking Statements

This announcement contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words "believe," "expect," "anticipate," "future," "will," "intend," "plan," "estimate" or similar expressions, are "forward-looking statements". Such statements include, but are not limited to risks detailed in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F for the fiscal year ended October 31, 2022. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. All information provided in this press release is as of the date of the publication, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

HONG KONG, Oct. 31, 2024 /PRNewswire/ -- Metalpha Technology Holding Limited (Nasdaq: MATH) (the "Company" or "Metalpha"), a global digital asset-focused wealth management company, today announced that it filed its Form 20-F annual report for the fiscal year ended March 31, 2024 ("Fiscal Year 2024") on October 30, 2024. In Fiscal Year 2024, the Company reported a total notional amount of derivate products of approximately US$1.56 billion, which was 406% comparing to the total notional amount of US$382 million for the fiscal year ended March 31, 2023 ("Fiscal Year 2023").

Financial Highlights

Metalpha is one of the leading digital asset-focused derivative trading firms. Income from the wealth management business surged about 195% from US$5.7 million in Fiscal Year 2023 to US$16.8 million in Fiscal Year 2024. Gross profit also increased by 180% from US$2.0 million in Fiscal Year 2023 to US$5.6 million in Fiscal Year 2024.

"The Company has seen some great progress in the Fiscal Year of 2024 and I'm delighted to see a continued strong growth in our wealth management business. Most importantly we are committed to deliver the best products and services to our clients. We are very confident in the outlook of the digital asset industry and will continue to innovate and design superb products for our professional clients," said Adrian Wang, Chairman of the Board of Directors and Chief Executive Officer of Metalpha.

The annual report can be accessed under the SEC Filings section on the Company's investor relations website at https://www.metalpha.net/investor-relations.html. The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders upon request. Requests should be directed to the Company's Investor Relations Department at info@metalpha.finance.

About Metalpha Technology Holding Limited

Founded in 2015, Metalpha Technology Holding Limited (Nasdaq: MATH) went public on October 20, 2017. The listed Company, through its subsidiaries, is dedicated to providing investing and wealth management services with a full-service, institutional-grade platform. With dedicated blockchain expertise, the Company aims to become a leader in the field of crypto wealth management services, bringing robust innovation and transparency to the customers and businesses it serves.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to" and similar statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management's control. These statements involve risks and uncertainties that may cause Metalpha's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.

HONG KONG, Oct. 31, 2024 /PRNewswire/ -- Hang Seng Investment Management Limited ('Hang Seng Investment'), Hong Kong's largest exchange-traded fund ('ETF') manager, is pleased to celebrate the launch of SAB Invest Hang Seng Hong Kong ETF by its partner SAB Invest, a subsidiary of The Saudi Awwal Bank in Saudi Arabia. This new feeder ETF, which fully invests into the Tracker Fund of Hong Kong ('TraHK' – Stock Code: 2800.HK), made its trading debut on the Saudi Exchange (Tadawul) today (31 October 2024).

Addressing attendees at the listing ceremony, the Honorable Paul Chan Mo-Po, Financial Secretary of the Government of the Hong Kong Special Administrative Region ('HKSAR') congratulated SAB Invest, Hang Seng Investment and the Saudi Exchange (Tadawul) for this successful listing, and said, "Today's ETF invests into the Tracker Fund of Hong Kong, which tracks more than 80 of the largest, most liquid, stocks on the Hong Kong Stock Exchange. It creates another channel for Saudi investors to participate in Hong Kong's equity market on a diversified basis covering such key sectors as finance, technology and property – in Hong Kong, and Mainland China."

Speaking at the event, Rosita Lee, Director and Chief Executive Officer of Hang Seng Investment Management Limited, said: "As the manager of TraHK, Hang Seng Investment is delighted that TraHK has been selected as the underlying investment for the new feeder ETF outside of Hong Kong, highlighting its appeal to international markets. Our collaboration with SAB Invest demonstrates our shared vision of fostering a greater diversity in the investment market in Saudi Arabia and will play a pivotal role in strengthening capital flows between Hong Kong and the Middle East, particularly by leveraging Hong Kong's position as a super connector between mainland China and the rest of the world."

Launched in 1999, TraHK is the largest ETF in Hong Kong in terms of assets under management (AUM) and turnover, with AUM of HKD 166 billion as of the end of September 2024. The SAB Invest Hang Seng Hong Kong ETF offers Middle Eastern investors a new opportunity to access Hong Kong's dynamic capital markets.

North American bank sees success with Personetics' AI-powered savings solution, helping customers reach financial milestones

NEW YORK, Oct. 31, 2024 /PRNewswire/ -- Personetics today announced the success of BMO's Savings Amplifier offering. The BMO Savings Amplifier offering has helped tens of thousands of BMO customers set over 100,000 savings goal targets through the award-winning BMO Mobile app. BMO customers have rated the Savings Amplifier offering 4.7 out of 5 stars*. The exceptional rating reflects the program's effectiveness in helping customers achieve their savings goals and make real financial progress.

In 2022, BMO partnered with Personetics to build an AI-powered savings solution within its mobile banking app. With competitive interest rates, unlimited no fee, self-serve transfers and no minimum balances or monthly fees, the BMO Savings Amplifier offering is designed to empower customers to take control of their savings journey by enabling them to open new savings accounts online, set personalized savings goals, establish automated transfers to advance their goals, and monitor their progress through the BMO Mobile Banking app.

The transfers maintain a minimum balance selected by the customer. With just a few clicks, customers can build savings and gain visibility into achieving their financial dreams, all directly within the familiar BMO Mobile Banking app.

"This award-winning solution demonstrates BMO's continued commitment to support evolving customer needs and empower them to make real financial progress," said Peter Poon, Head & VP, Digital Self-Service, Innovation & Technology, BMO "Collaborating with Personetics has helped us turn data into clear, actionable insights that empower our customers to conveniently manage their finances, and confidently achieve their financial goals."

Jody Bhagat, President of the Americas at Personetics, offered his insight on the solution: "Through automated fund allocation, goal-based targets and personalized nudges, Personetics is bringing leading solutions to BMO, helping them to empower their customers to save efficiently," he said. "BMO wanted a state-of-the-art personalized engagement solution, and our experienced team did even more by launching a program that was simple and intuitive for customers."

BMO's collaboration with Personetics on the Savings Amplifier offering has received several important recognitions, including Celent's Model Bank Award and a Digital CX Award from The Digital Banker. In March 2024, the bank was ranked among Fast Company's list of the World's Most Innovative Companies. Recognized in the Personal Finance category, the award recognized BMO's innovative digital tools and resources including the BMO Savings Amplifier offering.

*Based upon average rating of the savings goals tracking insight.

About Personetics

Personetics is the global leader in financial data-driven personalization, enabling financial institutions to forge deeper relationships by enhancing clients' financial wellness and helping them make smarter decisions. Personetics reaches 150 million customers across 35 global markets while serving more than 130 financial institutions. Personetics' AI analyzes financial data in real-time to understand customer financial behavior, anticipate needs, and deliver a hyper-personalized experience with day-to-day actionable insights, personalized recommendations, product-based financial advice, and automated financial wellness programs. The company has offices in New York, London, Singapore, São Paulo, and Tel Aviv. For more information, visit www.personetics.com.

Press contact:
Michal Milgalter
Personetics
michal.milgalter@personetics.com