Ev Dynamics Delivers 40 Customized 7.5-Meter Electric Vans to Europe

May 5, 2022 | Business

Ev Dynamics (Holdings) Limited (the “Company”, Stock Code: 476, together with its subsidiaries, collectively “Ev Dynamics” or the “Group”), a provider of new energy vehicles and integrated technology solutions, sets to deliver 40 custom-made 7.5-meter electric vans to Europe this year.
In line with its unique value-added business approach, Ev Dynamics customizes and develops a cabin-chassis to which customers can install compartment and do fitting on top of it according to their needs. The electric vans will be transformed into electric school buses that fit in with plans in Spain to expand her sustainable public and urban transport network.

“This particular customer in Spain was sourcing for an EV solution as part of their plans to launch greener and more energy-efficient school buses. Ev Dynamics hence custom-developed an electric vehicle light-weight and low-power consuming, which we believe will be a welcomed choice with demand for more sustainable urban mobility climbing,” said Miguel Valldecabres Polop, CEO of Ev Dynamics.

Ev Dynamics is equipped for and ready to take its tailor-made approach on new energy vehicle solutions worldwide, especially to high-growth European and Latin American electric vehicle markets. It has delivered very recently to a major customer in Mexico.

Miguel Valldecabres Polop continued: “We have been focused on promoting our value-added business approach to foster business in high-growth EV markets in the past year. There is a massive market demand for customized new energy vehicles in Europe, yet not many companies are able to provide and deliver tailor-to-needs solutions to last-mile delivery platforms. That is where Ev Dynamics comes in, as we have proven ability to satisfy those customer needs.”

About Ev Dynamics (Holdings) Limited (Stock Code: 476)
Ev Dynamics (Holdings) Limited is a pioneer and prominent player in China’s new energy commercial vehicles market, as well as a whole-vehicle manufacturer of specialty passenger vehicles and new energy passenger vehicles. It is an integrated driving and logistics solutions provider with a solid technological foundation in diverse areas including new energy platform power systems and their key components. The Group has a production base in Chongqing, boasts extensive domestic and overseas sales networks, and focuses on serving high-growth markets in Southeast Asia, Europe and Latin America.






Topic: Press release summary

SF Intra-City Delivers Outstanding Annual Results, Highest Revenue In Third-party On-demand Market

Mar 30, 2022 | Business

Hangzhou SF Intra-City Industrial Co., Ltd. (“SF Intra-City” or the “Company”; stock code: 9699), the largest third-party on-demand delivery service platform in China , today announced its annual results for the year ended 31 December 2021 (the “Year”). Revenue continued to rise with gross profit and gross profit margin turning positive for the first time. The inspiring set of results demonstrates the successful implementation of its business development strategies.

Results Highlights
— Revenue surged by 68.8% YoY to RMB8.17 billion
— Gross profit and gross profit margin turned positive, successfully achieving a gross profit of RMB94.8 million and gross profit margin of 1.2% YoY
— Revenue from intra-city delivery service increased by 58.1% YoY to RMB5.09 billion
— Non-food delivery scenarios achieved YoY revenue growth of 105% to RMB1.87 billion
— The number of active merchants increased 54.5% YoY to over 258,000
— The number of active consumers increased from approximately 5.1 million in 2020 to approximately 10.6 million in 2021, doubling YoY. The Company has achieved over 150% YoY growth in terms of revenue for intra-city delivery service to consumers for three consecutive years
— Revenue from last-mile delivery services increased by 89.3% YoY to RMB3.07 billion, accounting for 37.6% of total revenue. The number of cities and counties increased to over 1,900
— With further optimization of scale and efficiency, diversified product coverage and multi-scenario business model, SF Intra-City reported an inspiring set of results

During the Year, revenue surged 68.8% year-on-year (“YoY”) to RMB8.17 billion, underpinned by a strong performance from non-food delivery scenarios , diversified product coverage and multi-scenario business model, further expansion of active merchant and active consumer bases, and expansion of service network into lower-tier markets with huge growth potential. The Company achieved higher operational efficiency and lower delivery costs through the continued expansion of its scale and continued investment and optimization of big data and AI technologies in its City Logistics System (“CLS”). As a result, the Company achieved gross profit/loss margin improvements for three consecutive years, recording a gross profit of RMB94.8 million and a gross profit margin of 1.2%. The net loss ratio narrowed to 11% from 15.6% last year.

SF Intra-City said, “We are pleased to report an inspiring set of annual results this year. Following our successful IPO at the end of last year, the impressive annual results represent another outstanding milestone in our business development. Over the past year, we have achieved significant growth by expanding our multi-scenario, customer base and geographic coverage. Not only did we continue to grow revenues, but we also managed to achieve positive gross profit and gross margin. This is an excellent result among peers.”

Business Review

High Growth in Intra-city Delivery Service
Revenue from Intra-city delivery service increased by 58.1% YoY to RMB5.09 billion, underpinned by a strong performance from non-food delivery scenarios, diversified product coverage and multi-scenario business model, further expansion of active merchant and active consumer bases, and expansion of service network into lower-tier cities with huge development potential. The revenue of non-meal delivery scenarios increased by 105% YoY to RMB1.87 billion, accounting for 37% of the total revenue from intra-city delivery, and the revenue from lower-tier cities increased by 89% YoY to RMB1.67 billion.

Intra-city Delivery to Merchants
SF Intra-City empowers merchants with its open and inclusive on-demand delivery network as well as its professional and comprehensive solutions. The number of its active merchants increased 54.5% YoY to over 258,000. SF Intra-City has become the preferred third-party on-demand delivery service provider for its merchant customers. It has achieved remarkable revenue growth in local retail, local e-commerce and local services, with over 165% YoY growth in revenue for merchants deliveries in the pharmaceutical, apparel and 3C electronics industry, as well as over 95% YoY growth in revenue for merchants deliveries including fresh produce, flowers, cakes and desserts and other groceries. In addition, the Company continued to deepen cooperation with leading brands during the year and established friendly business relationships with over 2,300 merchant brands. With the Company’s commitment to quality, stability and customer-focused service, the retention rate for Top 100 accounts reached 86% during the year.

Intra-city Delivery to Consumers
Revenue from intra-city delivery service to consumers has grown by more than 150% YoY for three consecutive years, driven by a rapidly expanding consumer base. The number of active consumers doubled YoY from approximately 5.1 million in 2020 to approximately 10.6 million in 2021 driven by the professional, reliable, and 24/7 real-time service across all scenarios. The Company’s specialized “pioneer riders” continued to improve its delivery standard for consumers, achieving order-pick-up rate of no less than 99% and fulfillment-in-time rate of no less than 96% at the end of 2021.

Last-mile Delivery Advantage Further Strengthened
Revenue from last-mile delivery services increased significantly by 89.3% YoY to RMB3.07 billion, with the number of cities and counties covered by last-mile services expanding to over 1,900, underpinned by increasing demand and the Company’s efficient fulfillment capabilities to take on more orders. The last-mile delivery service business has further expanded its network and enhanced network efficiency and economies of scale, increasing rider income and loyalty and effectively reducing delivery costs.

Technology Empowering Improvements in Riders’ Ability to Perform High-Quality Service
The Company has made continuous investments in technology to further optimize operational efficiency and reduce delivery costs. Through the utilization of CLS, real-time analysis can be performed on order volume and order density enabling precise adjustments such that riders can deliver orders for different service scenarios throughout the day and cope with real-time order volume volatility, resulting in rider efficiency enhancement.

During the Year, the number of our active riders increased 32% YoY to over 606,000. The increase in rider base has enabled SF Intra-City to further expand its existing business while exploring and taking on new business initiatives, including the development of a night-time (24-hour) delivery service network, allowing better service performance and responses to specific customer needs. The Company also maintained its high quality of service, with a fulfillment in-time rate of 95%, successfully driving impressive revenue growth. Particularly for food delivery scenarios (which time is of the essence), SF Intra-City have achieved an average delivery time of 26 minutes per order in 2021. During the Year, the number of cities covered by night-time (24 hours) delivery service network amounted to 693 cities.

The Company concluded, “In order to drive business and revenue growth and maintain above industry average growth rates, we have devoted ourselves to cultivating different delivery service scenarios and actively expanded our coverage network and customer base over the years. To reach more merchants and consumers, we expanded our service network from first- and second-tier cities into lower-tier cities that have large growth potential, abundant rider resources and rich sales channels. At the same time, we are actively responding to the ever-changing, complex and diversified needs of consumers, insisting on enhancing customer loyalty through high-quality services, as well as improving customized service and enabling technology empowerment to further optimize service quality. Through efficiency improvements from business optimization and operational refinement as well as deeper market penetration, we believe going forward SF Intra-City will achieve greater economies of scale and network effects, realize profitability and create long-term value for shareholders.”

About Hangzhou SF Intra-City Industrial Co., Ltd. (stock code: 9699.HK)
SF Intra-City focuses on the emerging opportunities of intra-city on-demand delivery services. Since 2019, SF Intra-city has operated as an independent legal entity to capture the growth opportunities arising from the new consumption trends. SF Intra-City adopts a multi-scenario business model, providing full coverage of delivery scenarios for all types of products and services. The Company’s extensive service coverage, ranging from mature scenarios such as food delivery to growth scenarios such as local retail, local e-commerce and local services, has enabled it to respond to the evolving customer needs resulting from the development and upgrade of the local consumer market. For more details, please visit company’s website: https://ir.sf-cityrush.com/en/investor-relations/.

For media enquiries:
Christensen China Limited
Suri Cheng
Phone: +86 185 0060 8364

Jenny Lam
Phone: +852 2232 3928 / +852 6312 2027
Email: SFIntracity@christensenir.com






Topic: Press release summary

Geosite Delivers Air Force Search and Rescue Response Tools to Help Save Lives Faster

Mar 16, 2022 | Business

Team led by female Stanford Ph.D. and Pentagon veterans enables 3X faster response times for Air Force command that managed more than 11K incidents and saved over 350 lives in 2021 alone

PALO ALTO, Calif. – WEBWIRE –



Today, Geosite, the company that builds business intelligence software leveraging cutting-edge spatial data and AI, delivered a powerful new application – called the Mission Management Tool (MMT) – to the Air Force Rescue Coordination Center (AFRCC). The MMT streamlines the AFRCC’s response to calls for help cutting response times 3X, from as much as three hours to a few minutes in the vital first moments of a life-threatening emergency.


“There’s no better example of the power of simplified and easy-to-use geospatial data than the lifesaving work that AFRCC does,” says Rachel Olney, Geosite’s CEO and Founder. “Unlocking data from multiple sources like maps and checklists – and even satellites, drones, and IoT devices – opens the door for any enterprise to efficiently manage resources while solving critical problems from rescuing lost hikers to coordinating field maintenance efforts.”


AFRCC is the single agency responsible for coordinating on-land federal search and rescue (SAR) activities in the 48 contiguous United States, Mexico and Canada. In 2021, AFRCC received approximately 50,000 phone calls and ultimately managed over 11,000 SAR incidents, their busiest year in recorded history.


The small team of personnel tasked with this herculean effort must triage each individual call to screen for false alarms, localize the source of distress, prioritize immediacy, and parse the myriad of local jurisdictions for the correct resources to respond – a process that can require up to two hours. Geosite’s Mission Management Tool will reduce these triage times to a matter of minutes in the critical early moments of emergencies.


The secret behind this unprecedented streamlining of incident triage is Geosite’s ability to harness the power of geospatial data – information that links people, objects, or behaviors with the “when and where” they occupy. Traditionally, working with this data in real-time has proven extremely difficult even for GIS experts.


Geosite has cracked this code by fusing multiple streams of geospatial data into a single, easy-to-use environment that leverages time-saving productivity features. Within the Mission Management Tool, a customized version of the company’s highly successful, incident response application Beacon, SAR controllers can quickly ingest, assign, review, and coordinate a SAR incident from any location in an office or in the field.


Today’s news comes on the heels of Geosite’s recent successful $5M Series A funding round that was co-led by Lavrock Ventures and NextGen Venture Partners with participation from Bee Partners and MS&AD Ventures, the investment arm of the Japanese insurance titan MS&AD Insurance Group.


About Geosite

Geosite is an enterprise Software-as-a-Service company with applications that leverage spatial data for operations, planning, and analysis. From search and rescue coordination across the U.S. to insurance underwriting and claims, Geosite fuses complex data into simple workflows by delivering the power of geospatial data directly to business operations from multiple satellite, drone, IoT, and geospatial analytic sources. The company was founded in 2018 by Rachel Olney, a Stanford Ph.D. and Forbes “30-Under-30” top entrepreneur for enterprise technology. The company is backed by marquee venture capitalists including YCombinator, Bee Partners, Lavrock, NextGen Venture Partners, and MS&AD Ventures. The company is the 2021-2022 Cloud Awards winner for Best Geospatial / Aviation Solution. For information about Geosite visit: www.geosite.io.


Media Contact

Sean Yokomizo

On behalf of Geosite

press@geosite.io

925.878.1200


###

Japan – Fujitsu Delivers New Resource Toolkit to Offer Guidance on Ethical Impact of AI Systems

Feb 21, 2022 | Business

Fujitsu today announced the development of a resource toolkit offering developers guidance for evaluating the ethical impact and risks of AI systems based on international AI ethics guidelines. Fujitsu will offer these resources free of charge starting from February 21, 2022 to promote the safe and secure deployment of AI systems in society.

Figure 1. Outline of AI Ethics Impact Assessment

The toolkit consists of a variety of case studies and reference materials, including a newly developed method for clarifying ethical requirements in AI ethics guidelines written in natural language, as well as for applying ethical requirements to actual AI systems. The resources in Japanese can be downloaded here, with availability in English to follow in the near future.

With this guidance, Fujitsu aims to prevent misunderstandings and potential risks caused by differences in the interpretation of descriptions in guidelines, offering AI system developers and operators new tools for thoroughly identifying and preventing possible ethical issues early in the development process in keeping with international best practices.

Dr. Christoph Lutge of the Technical University of Munich, a leading authority in the research of responsible AI and business ethics, comments, “In Europe, there is a growing debate about AI regulations, and one of the key issues is how to close the gap between principles and practices, or “what” and “how.” I believe that the results of this research are very significant in that they enable us to practice based on principles. I would also like to express my deep appreciation for the decision to open up the research results and stimulate discussion worldwide.”

Going forward, Fujitsu will actively work to partner with government agencies, private companies, and leading researchers to further refine and promote its newly developed methodology and aims to release an expanded version of the resource toolkit in fiscal year 2022.

Background

In April 2021, the European Commission issued a draft for a regulatory framework calling for a comprehensive ethical response for AI system developers, users, and stakeholders in response to increasing concerns surrounding algorithmic bias and discriminatory decision-making in AI and machine learning applications.

To commit fully to the responsible use of technology and earn society’s trust in AI systems and the companies and organizations involved in this space, Fujitsu has formulated its own AI Commitment in 2019, as well as a new AI Ethics and Governance Office to develop and enforce robust policies for AI ethics, promote organizational AI ethical governance to ensure their effectiveness. Now, Fujitsu will move from principle to practice by steadily implementing best practices in the real-world to ensure the realization of ethical, safe, and transparent AI and machine learning technologies.

At present, it is common practice in AI system development to identify possible ethical risks in AI systems based on AI ethics guidelines issued by government authorities and companies. These guidelines are written in natural language, however, contributing to possible differences in interpretation and misunderstandings amongst designers and developers that can lead to inappropriate or insufficient measures. Under this method it is also difficult to judge whether the contents of the guidelines were thoroughly and appropriately reviewed.

Many challenges remain, however, and possible misinterpretation of guidelines in the design phase of new technologies can potentially lead to insufficient or inappropriate measures to counter risk.

New evaluation method and resources to help clarify guidelines and ethical risk

In preparing this new toolkit and guidance for developers, Fujitsu performed analyses of past AI related incidents collected in the AI Incident Database of the international consortium Partnership on AI (1). This process led to the conclusion that ethical issues related to AI systems can be contextualized with the exchange of information (“interactions”) between discreet elements within an AI system and between an AI system and its users and other stakeholders.

Based on these findings, Fujitsu successfully developed an evaluation method to systematically identify relevant ethical issues related to AI systems, allowing for the creation of AI ethics models (2) that are able to clarify the interpretation of AI ethics guidelines.

Fujitsu applied its new evaluation method to 15 representative cases out of the AI Incident

Database (164 global cases registered as of February 21, 2022, examples included cases from areas like the financial and human resources sector). Applying the new method, all ethical issues that occurred in real world use cases were successfully identified as risks in advance during verification trials, the results of which have been published.

Fujitsu will be offering the following resource toolkit consisting of a variety of resources and guidance for developers to refer to in their own work:

Download site (in Japanese, English available at future date)
1. Whitepaper: A general overview of methodology
2. AI ethical impact assessment procedure manual: AI system diagram, preparation procedure of AI ethical model and explanation of problem correspondence method
3. AI ethical model: An AI ethical model based on AI ethical guidelines published by the European Commission (created by Fujitsu)
4. AI ethics analysis case studies: Results of analysis of major AI ethics issues from the AI Incident Database of Partnership on AI (As of February 21, there were six cases, which were added sequentially.)

Use Case: risk in use of AI for the evaluation of individuals for bank loans, recruitment

Figure 1 shows an example of an evaluation process of an individual typical in use case scenarios like personnel recruitment or the approval of bank loans. The correspondence table in the AI ethics model identified the “validity of the evaluation process” (whether the evaluation is conducted responsibly with reference to the output results from the AI system) as a check item for the interaction (relationship) between the user of the AI system and the target person to be evaluated, whereas “overdependency on AI results,” “selective interpretation and evaluation of output results” and “ignorance of output results” are listed as possible risks.

Within this example, AI system developers can identify the risk of an “overdependence of users on outputs from an AI system that may contain bias and lead to unfair decisions” as a possible risk in an AI system and appropriately adjust the system to prevent this risk.

(1) Partnership on AI:
A non-profit organization established in 2016 that address the ethical challenges of AI, for a future where AI and humans work together.
(2) AI ethics models:
AI ethics models include a correspondence table of “check items” and “interactions”, a tool for step-by-step evaluation of ethical requirements for AI systems. AI ethic models are manually created based on a specific guideline, but once generated, a model can be used generically to evaluate various AI systems. Using this method, developers and operators of AI systems can automatically retrieve all relevant check items from a previously created AI ethics model for a systematic and comprehensive evaluation of related possible risks based on the type of interactions within an AI system.

About Fujitsu

Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services. Approximately 126,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE:6702) reported consolidated revenues of 3.6 trillion yen (US$34 billion) for the fiscal year ended March 31, 2021. For more information, please see www.fujitsu.com.




BYD ADL Partnership Delivers 29 Enviro400EV Electric Buses to Abellio London

Feb 17, 2022 | Business

LONDON, UNITED KINGDOM – WEBWIRE –



Alexander Dennis Limited (ADL) and BYD UK jointly announced today that their electric vehicle partnership, the UK’s leading electric bus producer, has supplied 29 BYD ADL Enviro400EV to Abellio London for use on Transport for London (TfL) route 63 between King’s Cross and Honor Oak.


The zero emission double-deckers have innovative features, aimed at making them an even more attractive, green alternative to the car as London recovers from the pandemic.


ADL is a subsidiary of leading independent global bus manufacturer NFI Group Inc. (NFI), while BYD is the world’s leading manufacturer of new energy vehicles (NEV) and power batteries.


The new buses on route 63 have a more open feel thanks to a skylight on the upper deck and handles on the backs of seats rather than vertical poles for an unobstructed view. With high back seats throughout, journeys will be more comfortable. USB chargers and mobile phone holders in the seats mean passengers can work or relax more easily, while also taking the time to watch the sights of London go by.


A wood-effect floor adds to the cutting-edge design. New covers for the priority seats, with a contrasting colour scheme, help differentiate them from other seats for passengers who are less able to stand. The vehicles also have a larger wheelchair and buggy area, improving accessibility and helping parents getting around town. CCTV cameras have also been upgraded to provide higher-definition footage, acting as a greater deterrent and making travel even more safe and secure.


New digital signage on board the buses share a wider range of real-time information, including the time to the next stop, disruptions, space on the next bus and service updates for Tube and Overground services.


Thanks to the ADL’s extensive experience in tailoring buses’ interiors to customer requirements, the manufacturer was well placed to adapt the interior of the BYD ADL Enviro400EV electric double deckers. They were built at ADL’s factory in Scarborough, Yorkshire, supporting skilled green jobs and apprenticeships.


The electric buses are powered by BYD Iron-Phosphate Battery technology providing a longer driving range and optimised battery life. They also benefit from BYD’s innovative chassis, incorporating a ‘6 in one controller’ integrating the entire ecosystem of the bus for improved reliability.


Chris Gall, ADL Group Engineering Director, said: “We are delighted to continue to work with TfL and operators like Abellio to deliver innovation for London’s buses with the customer-friendly features on these zero emission buses. TfL’s sustained investment in its bus network is hugely important as it underpins skilled jobs and apprenticeships at our factories in Yorkshire and Scotland, our aftermarket facilities across the country, as well as in our extensive domestic supply chain, supporting communities through re-investment in local economies.”


Frank Thorpe, Managing Director, BYD UK, said: “Innovation and collaboration are integral to achieving ambitious net zero strategies. BYD strongly believes in the value of partnerships to help fast-track environmental goals for transport authorities and operators, such as TfL and Abellio. We are proud to bring our world leading expertise in batteries and integrated powertrain technology to our successful eBus venture in the UK with ADL.”


ABOUT BYD


The Official Sponsor of Mother Nature™, BYD, the world’s leading electric vehicle company, is dedicated to creating a “total solution.”  Globally, BYD has committed to corporate social responsibility, deeply monitoring our supply chain in terms of human rights, environmental safety, hazardous substance control and intellectual property rights. We only select suppliers who share our commitment to just labor practices, human rights standards and the environment. For more information, please visit https://byd.com/ or follow BYD on LinkedIn, Twitter, Facebook and YouTube.