Aeson Power Showcases Innovative Sodium Battery Technology at EES Europe 2025
MUNICH, May 7, 2025 /PRNewswire/ -- At EES Europe 2025, one of the leading events for the energy storage industry, Aeson Power debuted its sodium products including the SIBPOM-4850 for telecommunications, the SIBPOM-12100 for UPS, the SIBPOM-125kWh energy storage cabinet for C&I-scale, and the NaForce and NaPulse for passenger cars.
Aeson Power & The Smarter E Europe
Aeson Power's sodium products utilize NFPP polyanionic technology battery cells. The products feature intrinsic safety (capacity can be fully restored after discharging to zero volts), excellent high-temperature resistance (cells operate normally at 60 C), superior rate performance, high charge-discharge efficiency (RTE easily exceeds 95%), and long life (over 15,000 cycles).
For the C&I energy storage, Aeson Power launched sodium product SIBPOM-125kWh energy storage cabinet with safety, intelligence, wide temperature range, and high energy density, and has passed strict third-party tests based on lithium battery standards such as IEC 62619 and IEC 62933.
For the vehicle, Aeson Power introduced two series of sodium-ion batteries ─ the NaForce following European standards (EU) and NaPulse following Japanese standards (JIS) ─ each of which includes both a start-stop option and a starting option and provides instant starting at extreme temperatures, fast charging, light weight design and long service life, especially the start-stop batteries, which have a deep cycle capacity of 180,000. They are suitable for passenger cars and the best alternative to AGM and MF batteries.
Along with the sodium product, Aeson Power also displayed the lithium battery energy storage products - a 261kWh C&I energy storage cabinet and a 5MWh containerized energy storage system - certified to IEC standards by TÜV SÜD and French BV and the bipolar lead-acid battery - TRE, TUS, TSS, THS series - with excellent PSoC cycling, better cranking performance, and high power output.
Aeson Power's general manager Shirley Zhang stated, "Our bipolar lead-acid batteries are globally unique in low temperature of -40C performance, with wide market adoption. Now, our sodium-ion batteries will also achieve breakthroughs. The safety of sodium battery technology is a critical foundation for future applications. Aeson Power will keep focusing R&D resources on sodium technology."
About Aeson Power
Aeson Power is a trusted Australian provider of reliable energy solutions, including industry-proven batteries and cutting-edge energy storage solutions. Aeson Power has built an innovation ecosystem, spanning material selection, cell design, and system integration and become a pioneer in next-generation energy storage solutions. Visit www.aesonpower.com for more information.
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Associated Press
18 minutes ago
- Associated Press
Global Times: At Rizhao Port: Small phone screen unlocks code to transform, upgrade China's global trade
BEIJING, June 9, 2025 /PRNewswire/ -- In the sunlit repair depot of Rizhao Port of Shandong Port Group, Xu Guannan stands in front of a giant 17-ton wheel loader. This beast of a machine, capable of lifting 3 cubic meters of coals in one scoop, is not humming well these days, sending its work efficiency down. Initial reports suggest the machine is hit by overheating problems, but dozens of parts could be the culprit. A traditional repair work would by this time start climbing this behemoth and try to scout for faulty parts, guided by hunches and experience. Instead, Xu, deputy head of the Technology Innovation Center of Rizhao Port, reached into his pocket to grab his smartphone. From the small screen, Xu accessed the interface of a digital repair manual developed by his team of software engineers and powered by the latest artificial intelligence (AI) tool DeepSeek, which analyzed the problem in a flash and gave the answer - a ventilation valve on the gearbox is at fault. This is just a snapshot of the high-tech-powered, smart operation of Rizhao Port, which has earned the highest praise for its successful transformation and upgrade over the years. On the afternoon of May 22, 2024, Xi Jinping, general secretary of the Communist Party of China Central Committee, Chinese president and chairman of the Central Military Commission, visited Rizhao Port, the Xinhua News Agency reported at the time. Xi said that Rizhao Port, as a new port after China's reform and opening-up drive, has transformed itself from a traditional port into a modern one through scientific and technological innovation in recent years. It has not only made the cargo throughput among the forefront of the country, but also accumulated experience in developing new quality productive forces through the transformation and upgrading of traditional industries, which is worthy of praise, Xi said, according to Xinhua. Currently, as global trade has encountered profound turbulence due to rising unilateralism and protectionism in certain parts of the world, China's focus on building modern ports and developing new quality productive forces underscore its unwavering commitment not only to high-quality development at home, but also to mutually beneficial trade with the rest of the world. This is also the underlying logic of China's development of the port economy: Let the world share China's opportunities. China is committed to building world-class ports to expand its 'circle of friends' of trading partners, contributing to the stability of global supply chains. 'Chinese model' Such a commitment translates into real action at Rizhao Port: autonomous trucks glide across the docks, guided by AI precision; Towering cranes, controlled remotely from a sleek command center, dance in perfect sync, unloading megaships with balletic grace. Behind this futuristic symphony of machines working seamlessly together are years of dedicated efforts to transform this once modest port into a high-tech titan, earning accolades as a 'Chinese model' for the transformation and upgrading of traditional terminals into fully automated container terminals worldwide. For Xu and his team, that means harnessing the country's latest technological advancements to empower the port's operation. Since last year, Xu's team sorted out and compiled a total of 400,000 paper maintenance log entries in the past 10 years for the port's dozens of wheel loaders and made all the information digitalized into a knowledge graph. 'In a way, we perpetuated old repair masters' wisdom through digitalization and AI,' Xu told the Global Times. The adoption of large language model is just one facets of the port's efforts in harnessing the hardcore power of technology to empower the port's smart operations. Tian Zhendong, a first-grade technician at the Technology Innovation Center of Rizhao Port of Shandong Port Group and a holder of the National May 1 Labor Medal, works at the port's 100-million-ton dry bulk cargo terminal. The terminal handles the transportation and storage of over 70 types of cargo across five major categories. Following recent technological upgrades, it is now home to over 80 sets of automated equipment across 10 major categories and operators control these machines from an office building located thousand meters away. In addition to remotely control portal cranes, a total of 24 industrial robots were employed to do the heavy and dirty job of cleaning coal-carrying rail cars and removing sticky coke. This solution alone has greatly improved unloading efficiency and slashed labor cost by 70 percent, Tian said. 'Our attitude toward automation is: once it's installed, we must use it. If we don't use it, we can't discover problems to help improve the system, and we can't truly enjoy the high efficiency automation brings,' Tian told the Global Times. Such a devotion from Tian and other workers at the port helped build the world's first parallel, open and fully automated container terminal, which handles about 6 million TEUs a year with dozens of operator-less ship-to-shore (STS) container cranes and automated guided vehicles (AGVs) working in harmony around-the-clock. The automation resulted in a single machine efficiency boost by 50 percent and reduction in overall cost by 70 percent, according to Rizhao Port authorities. Green development Smart operation is just one aspect of Rizhao Port's transformation witnessed by Tian, who started working at the port in 1989 and a second-generation port worker. His father participated in the construction of Rizhao Port in the 1980s, witnessing the port's transformation from a small fishing village on the East China Sea coast into a major coal port in China. 'In the past, city residents who live nearby the port area can tell the main cargo being transported in the port in a given period by the color of the powder dust clinging on their windows - red is iron and black is coal,' Tian said. One defining moment of the port's history, Tian recalled, is a State Council guideline policy in 2022 stipulating support for Rizhao Port to become a smart and green demonstration port for bulk dry cargo. 'With the emphasis on ecological protection in the past decade and dedicated efforts in greening the port's operation area, we have a cleaner port and a cleaner city nowadays,' Tian said, 'The theme color of Rizhao Port's story has changed from one of red and black to one featuring green and blue.' Ultimately, efforts to ensure smart and green operations are aimed at bolstering Rizhao Port's core function of handling cargoes. And in that regard, the port has also seen remarkable achievements: the port is the world's youngest port achieving an annual throughput of 500 million tons; it ranks first in China in the throughput of seven types of goods, including iron ore, soybeans, petroleum and coke; and it has become a vital port supplying raw materials and bulk commodities to the 'World's Factory.' Powering exports During the visit to Rizhao Port in May 2024, Xi learned about the local progress in promoting the smart and green development of the port, and expanding the opening-up, according to Xinhua. Rizhao Port's transformation is aimed at not only supporting the country's high-quality development, but also promoting high-level opening-up. The point of having a world-class port lies in serving world-class trade, as some workers at Rizhao Port told the Global Times. In recent years, companies in and around Rizhao city have seized the opportunity to advance port-industry-city integration and leveraged the port's shipping links with more than 100 countries and regions. Rizhao Port served as a vital link efficiently bridging production resources with global demand and effectively facilitating the global expansion of more 'Made in China' products. Wuzheng Group, a major player in China's agricultural and commercial vehicle industry located in the nearby Wulian county, offers a prime example. Rizhao Port's advantages in land transportation, efficiency, and marine transportation costs have provided the company with efficient, economical, and reliable logistics services, giving its overseas businesses a high-quality boost, according to Liang Yong, head of the company's international cooperation department. 'A three-wheeled vehicle, great at traversing inferior roads, is produced every three minutes on average at our plant and most are sold overseas to countries in Africa, including Ghana, Burkina Faso and Tanzania,' Liang Yong, head of the company's international cooperation department, told the Global Times. In May, Wuzheng Group exported 1,000 diesel-powered tricycles customized for West African mining areas through Rizhao Port, setting a new record for a single shipment of Chinese diesel tricycles to Africa. Behind that number is real stories of how 'Made in China' products changing lives in countries and regions. Liang said that many African customers told him how the three-wheeled vehicles changed their lives and help them pursue better a life. Wuzheng Group is hardly alone in leveraging the advantages offered by Rizhao Port to expand exports. Rizhao Yulan Intelligent Manufacturing Industrial Park, which is located just 15 kilometers from the port area, is also one of the companies utilizing the resources brought by the Rizhao Port. The company's highly automated plant transforms steel rolls into tinplate, a premium product having great overseas demand for its use in the making of cans used for storing fast-moving consumer goods like infant formula and beverages. 'Most of Shandong's steel production occurs near Rizhao, where our facility is based,' Wang Dawei, deputy general manager of Rizhao Yulan New Materials Co, 'This grants us access to low-cost raw materials. At the same time, we benefit from the port's extensive shipping routes, facilitating our global exports.' With over 80 container shipping routes from Rizhao and over 360 shipping routes of Shandong Port Group, Rizhao Port is a major node in the New Eurasian Land Bridge Economic Corridor as well as an important link of the Belt and Road Initiative. In addition to more destinations of exports, the types of goods shipped from Rizhao have also expanded to include new products such as new-energy vehicles (NEVs). In March, a batch of NEVs from Rizhao Port were officially shipped, marking a leap in the port's business related to the 'new three' of China's tech-intensive and green exports - NEVs, photovoltaic products, and lithium batteries, according to local media reports. The development story of Rizhao Port provides a footnote for China's steadfast efforts to strengthen its connection and exchanges with the rest of the world despite rising unilateralism and protectionism. Building world-class ports is one major aspect of those efforts, and China has made great strides - China is now home to eight of the world's top 10 busiest ports in terms of cargo throughput and seven of the world's top 10 ports in terms of container throughput, data from the Ministry of Transport showed. 'Port serves trade, and automation can make a port better. It is precisely this pragmatic attitude toward technological transformation that has enabled us to achieve what we have done so far and empowers our pursuit of a better tomorrow,' Xu said. View original content: SOURCE Global Times
Yahoo
37 minutes ago
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Electric Truck Market worth $32,133.4 million by 2032
DELRAY BEACH, Fla., June 9, 2025 /PRNewswire/ -- The electric truck market is estimated at USD 5,247.2 million in 2025. It is projected to grow at a CAGR of 29.5%, reaching USD 32,133.4 million by 2032, according to a new report by MarketsandMarkets. The electric truck market is swiftly evolving as governments and fleets push for cleaner freight solutions. With prominent players such as AB Volvo and BYD rolling out models for urban delivery and long-haul routes, adoption is accelerating. For instance, in September 2024, AB Volvo launched a new electric truck with a 372-mile range per charge designed for long-haul transport. The model uses advanced battery technology to improve operational efficiency and reduce emissions. Incentives, emission targets, and expanding charging networks are further making electric trucks more practical. Light-duty models are leading adoption in cities, while medium- and heavy-duty segments are gaining momentum. As infrastructure and battery technology improve, electric trucks are poised to reshape global commercial transport. Download an Illustrative overview: Browse in-depth TOC on "Electric Trucks Market" 120 - Tables124 - Figures384 - Pages Lithium-Nickel-Manganese-Cobalt Oxide is expected to be the largest and fastest growing segment. The electric truck market, by battery type, is dominated by the Lithium-Nickel-Manganese-Cobalt Oxide (NMC) battery. Leading manufacturers such as Ford, Scania, and Rivian integrate NMC batteries into their vehicles to optimize performance and range. These batteries have a higher energy density than Lithium Iron Phosphate (LFP) batteries. Additionally, the declining cost of NMC batteries has brought them closer to price parity with LFP batteries, enhancing their market appeal. While LFP batteries are gaining traction, mainly due to their longer lifecycle, the adoption of NMC batteries is expected to rise significantly, particularly across European and North American markets, driven by performance requirements and energy density advantages. As OEMs expand electric truck offerings across various duty cycles, battery chemistry selection is becoming increasingly application specific. NMC batteries, with their compact size and high-power output, are well-suited for long-haul and heavy-duty operations where space and energy demands are critical. Conversely, LFP batteries are preferred in short-haul, urban, and light-duty applications due to their lower thermal risk and extended cycle life. Manufacturers are also investing in flexible battery platforms to accommodate both chemistries, ensuring adaptability across diverse fleet requirements. This dual-chemistry strategy is expected to drive innovation and competitiveness in the electric truck battery ecosystem. Heavy-duty trucks are anticipated to secure a leading market position. By type, heavy-duty trucks are emerging as the most influential segment in the electric truck market, driven by the global push to decarbonize long-haul and high-load freight transportation. These trucks are central to logistics and industrial operations, which contribute disproportionately to carbon emissions. Despite accounting for less than 20% of vehicle sales, medium- and heavy-duty trucks contribute nearly 40% of transport-related greenhouse gas emissions. This imbalance has compelled policymakers, particularly in North America and Europe, to mandate electrification across high-emission commercial fleets. Government frameworks like California's Advanced Clean Trucks (ACT) regulation and Canada's 2040 zero-emission target for MHDVs have fueled OEM investment, accelerated innovation, and increased deployment of electric heavy-duty trucks. Modern heavy-duty electric trucks now rival diesel counterparts in both performance and range. For instance, the Tesla Semi, with a battery capacity of 900–1000 kWh, offers a range of up to 500 miles and supports Class 8 logistics applications. Similarly, Freightliner's eCascadia, launched by Daimler Truck North America, provides a 200–250-mile range and is used for regional haul and intermodal operations. Volvo's VNR Electric, with a 565-kWh battery pack, offers a range of up to 270 miles and targets heavy-duty urban distribution. These models illustrate how manufacturers are integrating high-capacity batteries and advanced propulsion to serve long-haul, last-mile, and intercity freight demand. Fleet operators increasingly favor these trucks due to the reduced total cost of ownership (TCO), resulting from savings in fuel, maintenance, and emissions compliance. PepsiCo, for example, began deploying the Tesla Semi to fulfill long-haul logistics in the US, helping the company meet its sustainability commitments with zero tailpipe emissions. As infrastructure scales and regulations tighten, heavy-duty trucks are set to remain pivotal to commercial EV adoption globally. The European electric market is projected to grow significantly. France, Germany, the Netherlands, Norway, Sweden, and the UK are core markets under the European electric truck landscape. The region is governed by stringent emission regulations, with national governments actively incentivizing the electrification of transport. Policies such as tax exemptions, vehicle purchase subsidies, and infrastructure funding have collectively accelerated the shift toward electric trucks. Countries like Germany and the Netherlands have also introduced aggressive clean mobility programs that align with the EU Green Deal and Fit for 55 climate targets, impacting transport emissions and market expansion. In 2024, Daimler Truck AG announced a substantial investment into its European e-mobility segment, launching next-generation electric variants such as the Mercedes-Benz eActros 600, which offers over 300 miles of real-world range. Similarly, Volvo Trucks scaled production of its FH Electric and FM Electric models across its Gothenburg and Ghent plants, with confirmed orders from logistics giants such as DFDS and DHL. Furthermore, Europe is home to the world's leading electric truck manufacturers, including AB Volvo, Mercedes Benz Group AG, and Scania AB. These OEMs are driving innovation in electric powertrain technologies, battery integration, and range performance, positioning the region at the forefront of electric truck production. As manufacturers expand their electric truck portfolios to include light, medium, and heavy-duty variants, fleet operators across logistics, construction, and municipal sectors are increasingly adopting battery-electric alternatives. This well-established industrial base provides the technological foundation and supply chain efficiency needed to scale adoption. To ensure a smooth transition, European governments are heavily investing in public and private charging infrastructure while continuing to offer long-term support for vehicle electrification. Funding mechanisms under the EU Recovery and Resilience Facility, as well as national climate programs, are prioritizing clean transport projects. With policy alignment, OEM leadership, and improved environmental awareness, the electric truck market in Europe is set for sustained and robust growth. Key Market Electric Truck Industry: Prominent players in the Electric Truck Companies include as BYD (China), AB Volvo (Sweden), Ford Motor Company (US), Dongfeng Motor Corporation (China), and Rivian (US). Get 10% Free Customization on this Report: This report provides insights on: Analysis of Key Drivers (declining battery costs, extended electric truck range, government initiatives for commercial vehicles, elevated demand for electric trucks in logistics and commercial sector), Restraints (high initial investment for production, lack of EV charging infrastructure, extended charging duration), Opportunities (development of self-driving truck technology, rapid development in fuel cell technology), and Challenges (insufficient standardization of EV charging infrastructure and low availability of lithium for EV batteries) influencing the growth of the electric truck market Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and product & service launches in the electric truck market Market Development: Comprehensive information about lucrative markets – the report analyzes the electric truck market across varied regions Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the electric truck market Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like BYD (China), AB Volvo (Sweden), Ford Motor Company (US), Rivian (US), Dongfeng Motor Corporation (China), among others in the electric truck market Related Reports: Electric Scooter and Motorcycle Market Electric Vehicle Market Electric Commercial Vehicle Market Get access to the latest updates on Electric Truck Companies and Electric Truck Industry Growth About MarketsandMarkets™: MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. To find out more, visit or follow us on Twitter, LinkedIn and Facebook. Contact:Mr. Rohan SalgarkarMarketsandMarkets™ INC.1615 South Congress 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: sales@ Our Website: Logo: View original content: SOURCE MarketsandMarkets Sign in to access your portfolio
Yahoo
43 minutes ago
- Yahoo
51Talk Online Education Group Announces First Quarter 2025 Results
SINGAPORE, June 9, 2025 /PRNewswire/ -- 51Talk Online Education Group ("51Talk" or the "Company") (NYSE American: COE), a global online education platform with core expertise in English education, announced its unaudited results for the first quarter ended March 31, 2025. First Quarter 2025 Financial and Operating Highlights Gross billings[1] for the first quarter of 2025 were US$21.9 million, a 74.6% growth from the first quarter of 2024. Net revenues were US$18.2 million for the first quarter of 2025, a 93.1% increase from US$9.4 million for the first quarter of 2024. The number of active students with attended lesson consumption was approximately 81,100 in the first quarter of 2025, representing a 75.5% increase from approximately 46,200 for the first quarter of 2024. Key Financial and Operating Data For the three months endedMarch. 31,March. 31,Y-o-Y20242025Change Net Revenues (in US$ millions) 9.418.293.1 % Gross Margin 77.5 %77.0 %-0.5ppt Gross Billings (in US$ millions) 12.621.974.6 % Active students with attended lesson consumption[2] (in thousands) 46.281.175.5 % [1] Gross billings for a specific period, which is one of the Company's key operating data, is defined as the total amount of cash received and receivable from third party payment platforms for the sale of course packages and services in such period, net of the total amount of refunds in such period. The gross billings data included herein was from the Company's business system and converted with quarterly corresponding exchange rate, which may lead to differences with bank records. [2] An "active student with attended lesson consumption" for a given period refers to a student who attended at least one paid lesson, excluding those students who only attended paid live broadcasting lessons or trial lessons. "Our first-quarter gross billings increased by 74.6% compared to the same period last year, highlighting the progress we've made and the robustness of our business model. We remain confident in the sustainable growth trajectory of our operations. Looking ahead, we are encouraged by the positive momentum in the second quarter. Breakthroughs in our existing markets are driving results, and we are seeing promising early returns from our strategic investments in new regions." stated Jack Jiajia Huang, Founder, Chairman, and Chief Executive Officer of 51Talk. "We are establishing leadership positions in many of our core markets and are confident that our business model is well-equipped to outperform incumbents in mature markets and seize first-mover advantage in emerging ones. Education continues to be an operationally intensive sector, and we are proactively addressing the complexities of managing a growing, multi-market business. To support this expansion, we have taken deliberate steps to optimize our organizational structure, accelerate AI training and adoption company-wide, and deepen user engagement to foster stronger connections with our community." "We are excited about the future of our business and remain steadfast in our commitment to delivering long-term value to our shareholders, students and partners." concluded Jack Jiajia Huang. First Quarter 2025 Financial Results Net Revenues and Gross Margin Net revenues for the first quarter of 2025 were US$18.2 million, a 93.1% increase from US$9.4 million for the same quarter last year. The number of active students with attended lesson consumption was approximately 81,100 in the first quarter of 2025, a 75.5% increase from 46,200 for the same quarter last year. Cost of revenues for the first quarter of 2025 was US$4.2 million, a 97.6% increase from US$2.1 million for the same quarter last year. The increase was primarily due to the increase in total service fees paid to teachers, mainly resulting from an increased number of paid lessons. Gross profit for the first quarter of 2025 was US$14.0 million, a 91.8% increase from US$7.3 million for the same quarter last year. Gross margin for the first quarter of 2025 was 77.0%, compared with 77.5% for the same quarter last year. Operating Expenses Total operating expenses for the first quarter of 2025 were US$15.3 million, a 35.6% increase from US$11.3 million for the same quarter last year. The increase was mainly due to the increase in sales and marketing expenses. Sales and marketing expenses for the first quarter of 2025 were US$11.1 million, a 42.7% increase from US$7.8 million for the same quarter last year. The increase was mainly due to higher sales personnel costs related to increases in the number of sales and marketing personnel and higher expenses incurred for our marketing activities. Excluding share-based compensation expenses, non-GAAP sales and marketing expenses for the first quarter of 2025 were US$11.0 million, a 42.6% increase from US$7.7 million for the same quarter last year. Product development expenses for the first quarter of 2025 were US$1.0 million, a 9.8% increase from US$1.0 million for the same quarter last year. The increase was primarily due to higher product development personnel costs. Excluding share-based compensation expenses, non-GAAP product development expenses for the first quarter of 2025 were US$1.0 million, a 12.3% increase from US$0.9 million for the same quarter last year. General and administrative expenses for the first quarter of 2025 were US$3.2 million, a 23.8% increase from US$2.6 million for the same quarter last year. The increase was primarily due to higher general and administrative personnel costs. Excluding share-based compensation expenses, non-GAAP general and administrative expenses for the first quarter of 2025 were US$3.0 million, a 26.3% increase from US$2.4 million for the same quarter last year. Loss from Operations Operating loss for the first quarter of 2025 was US$1.3 million, compared with operating loss of US$4.0 million for the same quarter last year. Non-GAAP operating loss for the first quarter of 2025 was US$1.0 million, compared with non-GAAP operating loss of US$3.7 million for the same quarter last year. Net loss attributable to the Company's ordinary shareholders Net loss attributable to the Company's ordinary shareholders for the first quarter of 2025 was US$1.5 million, compared with net loss of US$4.0 million for the same quarter last year. Excluding share-based compensation expenses of US$0.3 million, non-GAAP net loss for the first quarter of 2025 was US$1.2 million, compared with non-GAAP net loss of US$3.7 million for the same quarter last year. Basic and diluted net loss per share attributable to ordinary shareholders for the first quarter of 2025 was US$0.004, compared with basic and diluted net loss per share attributable to ordinary shareholders of US$0.01 for the same quarter last year. Excluding share-based compensation expenses of US$0.3 million, non-GAAP basic and diluted net loss per share attributable to ordinary shareholders for the first quarter of 2025 was US$0.003, compared with non-GAAP basic and diluted net loss per share attributable to ordinary shareholders of US$0.01 for the same quarter last year. Basic and diluted net loss per American depositary share ("ADS") attributable to ordinary shareholders for the first quarter of 2025 was US$0.25, compared with basic and diluted net loss per ADS attributable to ordinary shareholders of US$0.69 for the same quarter last year. Each ADS represents 60 Class A ordinary shares. Excluding share-based compensation expenses of US$0.3 million, non-GAAP basic and diluted net loss per ADS attributable to ordinary shareholders for the first quarter of 2025 was US$0.20, compared with non-GAAP basic and diluted net loss per ADS attributable to ordinary shareholders of US$0.64 for the same quarter last year. Balance Sheet As of March 31, 2025, the Company had total cash, cash equivalents and time deposits of US$29.5 million, compared with US$$29.2 million as of December 31, 2024. The Company had advances from students[3] of US$47.9 million as of March 31, 2025, compared with US$45.1 million as of December 31, 2024. The financial statements for the first quarter ended March 31, 2025 herein have not been audited or reviewed by the Company's independent registered accounting firm. [3] "Advances from students" is defined as the amount of obligation to transfer goods or service to students or business partners for which consideration has been received from students in advance. The deposits from students are also presented in the total amount of "advances from students". Outlook For the second quarter of 2025, the Company currently expects net gross billings to be between US$24.5 million and US$25.5 million,which would represent a sequential growth of 11.7% to 16.3% and an increase of approximately 54.4% to 60.7% from the same quarter last year. The above outlook is based on current market conditions and reflects the Company's current and 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 AM U.S. Eastern Time on June 9, 2025 (8:00 PM Singapore/Hong Kong time on June 9, 2025). Dial-in details for the earnings conference call are as follows: United States (toll free): 1-888-346-8982 International: 1-412-902-4272 Singapore (toll free): 800-120-6157 Mainland China (toll free): 4001-201203 Hong Kong (toll free): 800-905945 Hong Kong (local toll): 852-301-84992 Participants should dial-in at least 5 minutes before the scheduled start time and ask to be connected to the call for "51Talk Online Education Group." Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at A replay of the conference call will be accessible until June 17, 2025, by dialing the following telephone numbers: United States (toll free): 1-877-344-7529 International: 1-412-317-0088 Replay Access Code: 6422462 About 51Talk Online Education Group 51Talk Online Education Group (NYSE American: COE) is a global online education platform with core expertise in English education. The Company's mission is to make quality education accessible and affordable. The Company's online and mobile education platforms enable students to take live interactive English lessons, on demand. The Company connects its students with a large pool of highly qualified teachers that it assembled using a shared economy approach, and employs student and teacher feedback and data analytics to deliver a personalized learning experience to its students. Use of Non-GAAP Financial Measures In evaluating its business, 51Talk considers and uses the following measures defined as non-GAAP financial measures by the SEC as supplemental metrics to review and assess its operating performance: non-GAAP sales and marketing expenses, non-GAAP product development expenses, non-GAAP general and administrative expenses, non-GAAP operating expenses, non-GAAP operating income/(loss), non-GAAP net income/(loss), non-GAAP net income/(loss) attributable to ordinary shareholders, and non-GAAP net income/(loss) attributable to ordinary shareholders per share and per ADS. To present each of these non-GAAP measures, the Company excludes share-based compensation expenses. 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 table captioned "Reconciliations of non-GAAP measures to the most comparable GAAP measures" set forth at the end of this press release. 51Talk believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance by excluding share-based compensation expenses that may not be indicative of its operating performance from a cash perspective. 51Talk believes that both management and investors benefit from 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 51Talk's historical performance. 51Talk computes its non-GAAP financial measures using the same consistent method from quarter to quarter and from period to period. 51Talk 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 non-GAAP measures is that these non-GAAP measures exclude share-based compensation expenses that have been and will continue to be for the foreseeable future a significant recurring expense in the 51Talk's business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying table at the end of this press release provides more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures. 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. Among other things, 51Talk's quotations from management in this announcement, as well as 51Talk's strategic and operational plans, contain forward-looking statements. 51Talk may also make written or oral forward-looking statements in its periodic reports to the Securities and Exchange Commission ("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 statements about 51Talk'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: 51Talk's goals and strategies; 51Talk's expectations regarding demand for and market acceptance of its brand and platform; 51Talk's ability to retain and increase its student enrollment; 51Talk's ability to offer new courses; 51Talk's ability to engage, train and retain new teachers; 51Talk's future business development, results of operations and financial condition; 51Talk's ability to maintain and improve infrastructure necessary to operate its education platform; competition in the online education industry in its international markets; the expected growth of, and trends in, the markets for 51Talk's course offerings in its international markets; relevant government policies and regulations relating to 51Talk's corporate structure, business and industry; general economic and business condition in the Philippines, its international markets and elsewhere; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in 51Talk's filings with the SEC. All information provided in this press release is as of the date of this press release, and 51Talk does not undertake any obligation to update any forward-looking statement, except as required under applicable law. 51TALK ONLINE EDUCATION GROUPUNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(In thousands) As of Dec. 31,Mar. 31,20242025US$US$ASSETS Current assets Cash and cash equivalents27,75829,415 Time deposits1,43090 Prepaid expenses and other current assets10,90612,506 Total current assets40,09442,011 Non-current assets Property and equipment, net363620 Intangible assets, net8077 Right-of-use assets2,8882,297 Deferred tax assets5756 Other non-current assets460433 Total non-current assets3,8483,483 Total assets43,94245,494LIABILITIES AND SHAREHOLDERS' DEFICITS Current liabilities Advances from students 45,06447,892 Accrued expenses and other current liabilities 6,6446,910 Amounts due to related parties2,8533,161 Lease liabilities1,2421,027 Taxes payable1,1001,169 Total current liabilities56,90360,159 Non-current liabilities Lease liabilities1,4411,158 Other non-current liabilities310318 Total non-current liabilities1,7511,476 Total liabilities58,65461,635 Total shareholders' deficits(15,000)(16,422) Noncontrolling interests288281 Total deficits(14,712)(16,141) Total liabilities and shareholders' deficits43,94245,494 51TALK ONLINE EDUCATION GROUP UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (In thousands except for number of shares and per share data)For the three months endedMar. 31,Dec. 31,Mar. 31,202420242025US$US$US$ Net revenues 9,44916,23618,247 Cost of revenues (2,128)(3,651)(4,205) Gross profit 7,32112,58514,042 Operating expenses Sales and marketing expenses (7,761)(10,121)(11,077) Product development expenses (948)(933)(1,041) General and administrative expenses (2,599)(2,389)(3,217) Total operating expenses (11,308)(13,443)(15,335) Loss from operations (3,987)(858)(1,293) Interest income 822720 Other expenses, net (86)(421)(59) Loss before income tax expenses (3,991)(1,252)(1,332) Income tax expenses (22)(162)(157) Net loss (4,013)(1,414)(1,489) Net loss attributable to noncontrolling interests (19)(36)(19) Net loss attributable to the Company's ordinary shareholders (3,994)(1,378)(1,470) Weighted average number of ordinary shares used in computing basic and diluted loss per share 345,124,338348,918,600351,595,585 51TALK ONLINE EDUCATION GROUPUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS(In thousands except for number of shares and per share data)For the three months ended Mar. 31,Dec. 31,Mar. 31,202420242025US$US$US$Net loss per share attributable to ordinary shareholders Basic and diluted(0.01)(0.00)(0.00)Net loss per ADS attributable to ordinary shareholders Basic and diluted(0.69)(0.24)(0.25)Share-based compensation expenses are included in the operating expenses as follows:Sales and marketing expenses(29)(30)(48)Product development expenses(33)(32)(13)General and administrative expenses(225)(145)(218) 51TALK ONLINE EDUCATION GROUPReconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures(In thousands except for number of shares and per share data)For the three months endedMar. 31,Dec. 31,Mar. 31,202420242025US$US$US$Sales and marketing expenses(7,761)(10,121)(11,077)Less: Share-based compensation expenses(29)(30)(48)Non-GAAP sales and marketing expenses(7,732)(10,091)(11,029)Product development expenses(948)(933)(1,041)Less: Share-based compensation expenses(33)(32)(13)Non-GAAP product development expenses(915)(901)(1,028)General and administrative expenses(2,599)(2,389)(3,217)Less: Share-based compensation expenses(225)(145)(218)Non-GAAP general and administrative expenses(2,374)(2,244)(2,999)Operating expenses(11,308)(13,443)(15,335)Less: Share-based compensation expenses (287)(207)(279)Non-GAAP operating expenses(11,021)(13,236)(15,056)Loss from operations(3,987)(858)(1,293)Less: Share-based compensation expenses(287)(207)(279)Non-GAAP loss from operations(3,700)(651)(1,014) 51TALK ONLINE EDUCATION GROUP Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures (In thousands except for number of shares and per share data)For the three months ended Mar. 31,Dec. 31,Mar. 31, 202420242025 US$US$US$Income tax expenses(22)(162)(157) Less: Tax impact of Share-based compensation expenses--- Non-GAAP income tax expenses(22)(162)(157)Net loss attributable to the Company's ordinary shareholders(3,994)(1,378)(1,470) Less: Share-based compensation expenses(287)(207)(279) Non-GAAP net loss attributable to the Company's ordinary shareholders(3,707)(1,171)(1,191)Weighted average number of ordinary shares used in computing basic and diluted loss per share345,124,338348,918,600351,595,585 Non-GAAP net loss per share attributable to ordinary shareholders Basic and diluted(0.01)(0.00)(0.00)Non-GAAP net loss per ADS attributable to ordinary shareholders Basic and diluted(0.64)(0.20)(0.20) 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