In conclusion, the gunning down of the CEO of an American insurance giant has sent shockwaves through the business community and beyond. The suspect has been apprehended, but many questions remain unanswered. As the community grieves the loss of John Smith, the incident serves as a somber reminder of the need for vigilance and security in an increasingly unpredictable world.Quarterly net revenues were RMB539.4 million (US$76.9 million) 1 Quarterly lidar shipments were 134,208 units SHANGHAI, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Hesai Group ("Hesai” or the "Company”), (NASDAQ: HSAI), the global leader in three-dimensional light detection and ranging (lidar) solutions, today announced its unaudited financial results for the three months ended September 30, 2024. Operational Highlights ended September 30, 2024 ended September 30, 2024 "We are thrilled to share that our business continues to thrive and advance on a strong growth path,” said Yifan "David” Li, Hesai's Co-Founder and CEO. "This quarter, we have made significant strides in the ADAS market, securing new design wins, partnerships, and development programs with key players, including a Top 3 OEM in Japan, SAIC Volkswagen, Leapmotor, and a premium EV brand backed by a leading Chinese automotive group. We also have reached a key milestone in our global expansion by successfully delivering B-sample units for our worldwide shipping programs with a leading global automotive OEM. OEMs at home and abroad have widely recognized lidar's essential safety features as a critical component in their holistic safety systems, similar to an 'active' seat belt or airbag. Furthermore, lidar's versatility, with applications in emerging areas such as industrial robotics, smart factories and logistics, continues to garner attention. Our latest flagship product, OT128, a 360° mechanical, automotive-grade long-range lidar, is designed for scalable deployment in robotaxi and industrial applications. We are actively exploring new use cases and engaging with customers across both ADAS and AM sectors, leveraging our full lineup of versatile lidars. "I am also delighted to announce that Andrew Fan has joined us as our Chief Financial Officer. Andrew brings a wealth of experience in financial strategy and corporate finance, as well as an impressive track record of driving growth and operational efficiency in dynamic industries. His insights and leadership will be invaluable as we navigate the evolving landscape and continue to strengthen our position in the global lidar industry,” Dr. Li continued. "Andrew's strategic vision aligns seamlessly with our goals, and I believe his commitment to innovation and financial rigor will help us unlock new levels of success. I am confident that with his expertise and dedication, we are well-positioned for another exciting chapter of growth and accomplishment.” Mr. Andrew Fan, Hesai's CFO, added, "Our strong third quarter financial performance was highlighted by robust operational execution across all key metrics. Quarterly shipment volume reached 134,208 units, marking our second consecutive quarter of nearly 50% sequential growth and propelling net revenues to RMB539.4 million (US$76.9 million), surpassing the upper range of our guidance. We maintained a robust blended gross margin of 47.7%, driven by effective cost management and our flywheel approach to cost and scale optimization. The margin was further bolstered by NRE revenues from our L4 lidar, which is being prepared for potential large-scale deployment by a leading global robotaxi player in the coming years. Our strong commitment to operational efficiency and financial discipline has also enabled us to consistently reduce our GAAP net loss for four consecutive quarters. Looking ahead, we're expecting a record-breaking fourth quarter, with lidar shipments projected to reach 200,000 units-an astounding volume nearly matching our total shipments in 2023. Based on our current estimates, fourth quarter net revenues are expected to soar to nearly US$100 million, delivering an estimated net profit of US$20 million and a positive operating cash flow. Additionally, we anticipate achieving full-year profitability on a non-GAAP basis for 2024, positioning us to become the first automotive lidar company worldwide to achieve this remarkable milestone. This anticipated explosive growth underscores our robust momentum as we drive toward a landmark fiscal year finish!” Mr. Fan has over 18 years of experience in accounting and corporate financing. From May 2021 to September 2024, Mr. Fan held the position of chief financial officer at a leading automotive technology company. Prior to that, Mr. Fan held senior finance-related roles at listed companies including Hailiang Education Group Inc., Aesthetic Medical International Holdings Group Limited, and Dali Foods Group Company Limited, and various roles at financial institutions including Deutsche Bank, HSBC, and Macquarie. Additionally, Mr. Fan has served as an independent non-executive director of Jiangsu Innovative Ecological New Materials Limited (HKEX: 2116) since 2018. Mr. Fan graduated from Tsinghua University, with bachelor's and master's degrees in accounting in 2004 and 2006, respectively. (in RMB millions, except for per ordinary share data and percentage) For the fourth quarter of 2024, the Company expects net revenues to approach US$100 million (RMB702 million). The above outlook is based on the current market conditions and reflects the Company's preliminary estimates of market and operating conditions and customer demand, which are all subject to change. Conference Call The Company's management will host an earnings conference call at 8:00 PM U.S. Eastern Time on November 25, 2024 (9:00 AM Beijing/Hong Kong Time on November 26, 2024). For participants who wish to join the call by phone, please access the link provided below to complete the pre-registration process and dial in 5 minutes prior to the scheduled call start time. Upon registration, each participant will receive dial-in details to join the conference call. A replay of the conference call will be accessible approximately an hour after the conclusion of the call until December 3, 2024, by dialing the following telephone numbers: Hesai is the global leader in three-dimensional light detection and ranging (lidar) solutions. The Company's lidar products enable a broad spectrum of applications across passenger and commercial vehicles with advanced driver assistance systems (ADAS) and autonomous vehicle fleets (autonomous mobility). Hesai's technology also empowers robotics applications such as last-mile delivery robots and logistics robots in restricted areas. The Company's commercially validated solutions are backed by superior R&D capabilities across optics, mechanics, and electronics. Hesai integrates lidar designs with an in-house manufacturing process, facilitating rapid product development while ensuring high performance, consistent quality and affordability. Hesai has established strong relationships with leading automotive OEMs, autonomous vehicle, and robotics companies worldwide, covering over 40 countries as of December 31, 2023. Use of Non-GAAP Financial Measures To supplement Hesai's consolidated financial results presented in accordance with GAAP, Hesai uses the following measures defined as non-GAAP financial measures by the SEC: loss from operation excluding share-based compensation expenses, net loss excluding share-based compensation expenses, net loss attributable to ordinary shareholders excluding share-based compensation, and per ordinary share net loss attributable to ordinary shareholders excluding share-based compensation. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the tables captioned "Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this release. Hesai believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based compensation expenses that may not be indicative of its operating performance from a cash perspective. Hesai believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management's internal comparisons to Hesai's historical performance and liquidity. Hesai believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using these non-GAAP financial measures is that they exclude share-based compensation expenses that have been and will continue to be for the foreseeable future a significant recurring expense in our business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP financial measure. The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB7.0176 to US$1.00, the exchange rate on September 30, 2024, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollars amounts referred could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under 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,” "confident,” "potential,” "continue” or other similar expressions. Among other things, the business outlook and quotations from management in this announcement, as well as the Company's strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's goals and strategies; the Company's future business development, financial condition and results of operations; expected changes in the Company's revenues, costs or expenditures; the trends in, expected growth and the market size of the ADAS, autonomous mobility and robotics industries; the market for and adoption of lidar and related technology; the Company's ability to produce high-quality products with wide market acceptance; the success of the Company's customers in developing and commercializing products using its solutions, and the market acceptance of those products; the Company's ability to introduce new products that meet its customers' requirement; the Company's expectations regarding the effectiveness of its marketing initiatives and the relationship with its third-party partners; competition in the Company's industry; the Company's ability to recruit and retain qualified personnel; relevant government policies and regulations relating to the Company's industry; the Company's ability to protect its systems and infrastructures from cyber-attacks; general economic and business conditions globally and in China; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: In China: Hesai Group Yuanting "YT” Shi, Investor Relations Director Email: [email protected] Piacente Financial Communications Jenny Cai Tel: +86 (10) 6508-0677 Email: [email protected] In the United States: Piacente Financial Communications Brandi Piacente Tel: +1-212-481-2050 Email: [email protected] Source: Hesai Group UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (All amounts in thousands, except share and per share data and otherwise noted) 2023 2024The relentless upward trajectory of the Chinese yuan in recent days has defied expectations and market dynamics. The currency's gains have been attributed to a combination of factors, including growing investor confidence in the Chinese economy, the relative strength of China's recovery from the pandemic, and the country's robust trade surplus. Additionally, the Chinese government's efforts to stabilize the currency and prevent excessive depreciation have been effective in bolstering confidence in the yuan.Reports: Saints concerned over QB Derek Carr's hand injury
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SAO PAULO (AP) — Brazil’s former far-right President Jair Bolsonaro was fully aware of and actively participated in a coup plot to remain in office after his defeat in the 2022 election , according to a Federal Police report unsealed Tuesday. Federal Police last Thursday formally accused Bolsonaro and 36 other people of attempting a coup. They sent their 884-page report to the Supreme Court, which lifted the seal. “The evidence collected throughout the investigation shows unequivocally that then-President Jair Messias Bolsonaro planned, acted and was directly and effectively aware of the actions of the criminal organization aiming to launch a coup d’etat and eliminate the democratic rule of law, which did not take place due to reasons unrelated to his desire,” the document said. At another point, it says: “Bolsonaro had full awareness and active participation.” Bolsonaro, who had repeatedly alleged without evidence that the country's electronic voting system was prone to fraud, called a meeting in December 2022, during which he presented a draft decree to the commanders of the three divisions of the armed forces, according to the police report, signed by four investigators. The decree would have launched an investigation into suspicions of fraud and crimes related to the October 2022 vote, and suspended the powers of the nation's electoral court. The navy’s commander stood ready to comply, but those from the army and air force objected to any plan that prevented Lula’s inauguration, the report said. Those refusals are why the plan did not go ahead, according to witnesses who spoke to investigators. Bolsonaro never signed the decree to set the final stage of the alleged plan into action. Bolsonaro has repeatedly denied any wrongdoing or awareness of any plot to keep him in power or oust his leftist rival and successor, Luiz Inácio Lula da Silva. “No one is going to do a coup with a reserve general and half a dozen other officers. What is being said is absurd. For my part, there has never been any discussion of a coup,” Bolsonaro told journalists in Brazil’s capital Brasilia on Monday. “If someone came to discuss a coup with me, I’d say, that’s fine, but the day after, how does the world view us?” he added. “The word ‘coup’ has never been in my dictionary.” The top court has passed the report on to Prosecutor-General Paulo Gonet. He will decide whether to formally charge Bolsonaro and put him on trial, or toss the investigation. Ahead of the 2022 election, Bolsonaro repeatedly alleged that the election system, which does not use paper ballots, could be tampered with. The top electoral court later ruled that he had abused his power to cast unfounded doubt on the voting system, and ruled him ineligible for office until 2030 . Still, he has maintained that he will stand as a candidate in the 2026 race. Since Bolsonaro left office, he has been targeted by several investigations, all of which he has chalked up to political persecution. Federal Police have accused him of smuggling diamond jewelry into Brazil without properly declaring them and directing a subordinate to falsify his and others’ COVID-19 vaccination statuses . Authorities are also investigating whether he incited the Jan. 8, 2022 riot in which his followers ransacked the Supreme Court and presidential palace in Brasilia, seeking to prompt intervention by the army that would oust Lula from power. Bolsonaro had left for the United States days before Lula’s inauguration on Jan. 1, 2023 and stayed there three months, keeping a low profile. The police report unsealed Tuesday alleges he was seeking to avoid possible imprisonment related to the coup plot, and also await the uprising that took place a week later. Hughes reported from Rio de JaneiroOne common lens through which young people view Qiong Yao's dramas is the concept of the "Love-Struck" protagonist. In many of her stories, the main characters are portrayed as deeply emotional and idealistic individuals who often prioritize romantic love above all else. For some young viewers, this portrayal may seem outdated or even unrealistic in today's fast-paced and pragmatic society. The intense focus on love and romantic relationships, sometimes to the point of sacrificing personal growth or independence, can be seen as a reflection of a bygone era's values.
Gan Wei's story serves as a reminder that love and relationships are complex and multifaceted. Sometimes, the path we choose may be challenging and unconventional, but ultimately, it is our own experiences and choices that shape our lives.
As a precautionary measure, the affected bath centers were immediately shut down to prevent further exposure and to allow for a comprehensive investigation to take place. The authorities have also coordinated with medical professionals to provide treatment and care for those individuals who have fallen ill as a result of their visits.In the midst of this turbulent period, Mbappe's leadership qualities are being put to the test. As he navigates the treacherous waters of team politics and interpersonal conflicts, Mbappe must strike a delicate balance between justice and unity. The success of his mission hinges not only on identifying the culprits but also on fostering a sense of trust and camaraderie among his teammates.
As they sat down to catch up on lost time, the graduate student shared the story of her journey, the challenges she had faced, and the strength she had drawn from her children. Her children, in turn, expressed their gratitude for her sacrifices and dedication, vowing to make her proud with their achievements and successes.In light of this tragedy, it is essential for both consumers and practitioners to prioritize safety, transparency, and professionalism in all aspects of alternative therapy. By educating themselves about the potential risks and benefits of different treatments, individuals can make informed decisions and advocate for their own health and well-being. Likewise, therapists and practitioners must commit to ongoing training, ethical practices, and a deep understanding of human anatomy to avoid causing harm to their clients.'Operation Vigilance' finds checks Yolo sex offenders' compliance
As the winter transfer window approaches, the pharmaceutical factory-owned club is preparing to make a significant offer to lure the young prodigy away from Real Madrid. While the financial aspect of the deal is important, the club is also touting a project that promises the player regular playing time, development opportunities, and the chance to become a key figure in their squad.
Mr. Zhang, the owner of a furniture factory in a small town, has been in the industry for over two decades. Over the years, he accumulated a wealth of experience in woodworking and furniture production. However, he also faced a growing challenge of dealing with the mounting piles of wood waste and straw generated during the manufacturing process. Determined to find a sustainable solution, Mr. Zhang embarked on a journey of exploration and innovation.None
IMD Update: There will be heavy rain in 11 states, know IMD’s update regarding coldIn a surprising turn of events, Manchester United is reportedly open to the idea of selling star midfielder Paul Pogba due to ongoing discipline issues within the squad. According to sources close to the club, Pogba's departure is seen as a necessary step in order to maintain the team's unity and focus, as well as to pave the way for the potential arrival of highly-rated young talent James Yorkley, also known as James.
Carbon monoxide poisoning is a serious health risk that occurs when individuals inhale excessive amounts of carbon monoxide, a colorless and odorless gas. The gas can be produced by the incomplete combustion of fuels such as gas, oil, and wood, which are commonly used in heating systems and water heaters. If not detected early, carbon monoxide poisoning can lead to severe health complications and even be fatal in some cases.
Schools and businesses in the affected areas are already announcing closures in anticipation of the blizzard, as safety concerns take precedence over regular activities. Residents are encouraged to stay indoors and limit exposure to the harsh weather conditions, as frostbite and hypothermia are serious risks during extreme cold snaps.Renowned Chinese actress Gong Li, at the age of 58, has recently captured the public's attention by showcasing her vitality and allure through a late-night badminton session. With a career spanning over four decades and numerous accolades under her belt, Gong Li continues to embody grace, sophistication, and elegance both on and off the screen. Her unexpected choice of engaging in physical activity during unconventional hours not only highlights her commitment to a healthy lifestyle but also serves as a reminder that age is just a number when it comes to staying active and vibrant.
However, as the trading day progressed, profit-taking and concerns about the sustainability of the market rally led to a slight pullback in stock prices. Some investors chose to book profits following the initial uptick, especially in sectors that had seen rapid gains in recent sessions. This led to a moderation in the overall market performance, with some stocks experiencing price corrections.ADDISON, Texas--(BUSINESS WIRE)--Nov 25, 2024-- Concentra Group Holdings Parent, Inc. (“Concentra,” “we,” “us,” or “our”) (NYSE: CON) today announced that Select Medical Holdings Corporation (“Select Medical”) (NYSE: SEM) has completed its previously announced distribution (the “Distribution”) of 104,093,503 shares of Concentra’s common stock owned by Select Medical Corporation (“SMC”), a wholly owned subsidiary of Select Medical, representing approximately 81.7% of the outstanding shares of Concentra’s common stock. After the completion of the Distribution, Select Medical no longer owns any shares of Concentra’s common stock. The Distribution was made today to Select Medical’s stockholders as of the close of business on November 18, 2024 (the “Record Date”). The Distribution took place in the form of a pro rata common stock distribution to each of Select Medical’s stockholders on the Record Date. Based on the shares of Select Medical’s common stock outstanding on the Record Date, Select Medical’s stockholders received 0.806971 shares of Concentra’s common stock for every share of Select Medical’s common stock held as of the Record Date. No fractional shares of Concentra’s common stock were distributed. Instead, Select Medical’s stockholders will receive cash in lieu of any fraction of a share of Concentra’s common stock that they otherwise would have received. On November 19, 2024, Select Medical made available an information statement to its stockholders on the Record Date, which included details on the Distribution. The information statement is posted under the Investor Relations tab on Select Medical’s website at www.selectmedical.com/investor-relations/ . About Concentra Concentra is the largest provider of occupational health services in the United States by number of locations, with the mission of improving the health of America’s workforce, one patient at a time. Concentra’s 11,000 colleagues and affiliated physicians and clinicians support the delivery of an extensive suite of services, including occupational and consumer health services and other direct-to-employer care, to more than 50,000 patients each day on average across 45 states at our 549 occupational health centers, 156 onsite health clinics at employer worksites, and Concentra Telemed as of September 30, 2024. This press release may contain forward-looking statements based on current management expectations. Numerous factors, including those related to market conditions and those detailed from time-to-time in Concentra’s filings with the Securities and Exchange Commission, may cause results to differ materially from those anticipated in the forward-looking statements. Many of the factors that will determine Concentra’s future results are beyond the ability of Concentra to control or predict. These statements are subject to risks and uncertainties and, therefore, actual results may differ materially. Readers should not place undue reliance on forward-looking statements, which reflect management’s views only as of the date hereof. Concentra undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. View source version on businesswire.com : https://www.businesswire.com/news/home/20241125422840/en/ CONTACT: Investor inquiries: Bill Chapman Vice President, Strategy & Investor Relations 972-725-6488 ir@concentra.com KEYWORD: UNITED STATES NORTH AMERICA TEXAS INDUSTRY KEYWORD: HEALTH TELEMEDICINE/VIRTUAL MEDICINE HEALTH TECHNOLOGY HEALTH INSURANCE MANAGED CARE GENERAL HEALTH SOURCE: Concentra Group Holdings Parent, Inc. Copyright Business Wire 2024. PUB: 11/25/2024 05:30 PM/DISC: 11/25/2024 05:28 PM http://www.businesswire.com/news/home/20241125422840/en