Latest news with #BGM
Yahoo
28-05-2025
- Business
- Yahoo
From Virtual Agents to Embodied and Industry-Specific AI: BGM Acquires Xingdao Intelligent and YD Network, Advancing AI on Two Fronts
CHENGDU, China, May 28, 2025 /PRNewswire/ -- BGM Group Ltd. (the "Company" or BGM) (NASDAQ: BGM) today announced that it has entered into definitive transaction agreements with the existing shareholders of Xingdao Intelligent Cloud Chain (Shenzhen) Co., Ltd. ("Xingdao Intelligent") and YD Network Technology Company Limited ("YD Network"). Under the terms of the agreements, BGM will acquire 100% of the equity interests of both companies at a combined valuation of RMB800 million. The consideration will be paid through the issuance of 37,123,142 newly issued Class A ordinary shares of BGM at a price of US$3.0 per share. The transactions are expected to close by the end of June 2025, subject to customary closing conditions. Upon completion, the shareholders of Xingdao Intelligent and YD Network will collectively hold approximately 15.6% of BGM's total outstanding share capital. Xingdao Intelligent is a leading manufacturer and operator of embodied service robots in China. The company has developed proprietary robotic hardware systems and foundational algorithms, positioning itself as a key builder of intelligent workforce systems that integrate embodied robotics, multi-robot product suites, and AI-powered scenario-based services. With over 300 patents related to service robotics, Xingdao Intelligent has a significant presence in areas such as mechanical design, intelligent perception, and autonomous decision-making. The company's products are widely applied in industries including restaurant services, retail malls and supermarkets, building management, hospitals, and industrial inspections. The acquisition will enable BGM to deepen its AI capabilities by integrating hardware and software, completing the "perception-understanding-execution" cycle in real-world applications. YD Network is a pioneering company dedicated to advancing intelligent stock trading through AI. Through its proprietary financial models and quantitative algorithms, the company offers services such as intelligent stock selection, trading strategy optimization, and risk management. Its solutions are used by a range of investors, including individual traders, investment banks, and private equity firms, with a significant successful track record in the U.S. stock and options markets. By acquiring YD Network, BGM will expand its AI capabilities into the fintech sector, building a cross-industry intelligence ecosystem that spans marketing, labor, and capital markets, unlocking new growth avenues. Chen Xin, Chief Executive Officer of BGM, commented, "We believe the future of AI lies in multi-agent collaboration—across both virtual and physical domains, and into deep vertical applications. The acquisitions of Xingdao Intelligent and YD Network represent two major breakthroughs for us: one in embodied intelligence and the other in industry-specific AI applications. This will not only enhance our AI workforce platform but also open up a new frontier in stock and capital markets. These moves not only expand the boundaries of our business, but also lay a solid foundation for the continued evolution of our products and deeper industry integration." BGM is accelerating its "multi-agent AI productivity platform" strategy, building a comprehensive matrix of capabilities that includes AI-powered marketing, AI workforce platforms, AI-driven industry applications, and AI infrastructure. With the addition of Xingdao Intelligent and YD Network, BGM will strengthen its position across hardware-software integration, industry expansion, and algorithmic innovation, enabling the Company to offer more efficient, intelligent, and scalable solutions to clients worldwide. View original content: SOURCE BGM Group Ltd
Hans India
17-05-2025
- Hans India
East Coast Railway AGM interacts with staff
Visakhapatnam: Additional General Manager (AGM) of East Coast Railway Mohes Kumar Behera conducted an inspection at Visakhapatnam on Friday and participated in the Biennial General Body Meeting (BGM) of the All India Guards Council (AIGC) held at the Railway Institute. During the visit, Mohes Kumar Behera interacted with staff, train managers (Guards), and officers. Speaking on the occasion, he emphasised the paramount importance of safety, security, and enhanced passenger amenities. He urged the staff and officers to work diligently towards reducing passenger complaints by addressing issues efficiently. While interacting with the Train Managers, the AGM highlighted their critical roles and responsibilities, and encouraged open discussion regarding their grievances, suggestions. Addressing the officers, the AGM advocated for the implementation of good governance and robust administrative practices. He stressed the need to focus on cleanliness, freight loading, safe train operations, and track maintenance. Further, MK Behera also advised officers to prioritise infrastructural development to meet the targets set by the railway board. He called for the preparation of comprehensive action plans to overcome challenges through effective planning and teamwork. He was accompanied by Divisional Railway Manager Lalit Bohra, ADRMs Manoj Kumar Sahoo and E Santharam.
The Hindu
16-05-2025
- General
- The Hindu
East Coast Railway Additional General Manager stresses on the importance of safety, security and enhanced passenger amenities
Mohes Kumar Behera, Additional General Manager (AGM) of East Coast Railway, conducted an inspection and participated in the Biennial General Body Meeting (BGM) of the All India Guards Council (AIGC) held at the Railway Institute here on Friday. He was accompanied by Lalit Bohra, Divisional Railway Manager. During his visit, Mr. Behera interacted with the staff, Train Managers (Guards) and officers. He emphasised the importance of safety, security and enhanced passenger amenities. He urged all the staff and officers to work diligently towards reducing passenger complaints by addressing issues promptly and efficiently. While interacting with the Train Managers, the AGM highlighted their critical roles and responsibilities, and encouraged open discussion regarding their grievances, suggestions, and any support required from the administration. He assured them of the administration's commitment to providing a conducive work environment. In his meeting with officers, the AGM advocated the implementation of good governance and robust administrative practices. He stressed the need to focus on cleanliness, freight loading, safe train operations, and track maintenance. He also advised officers to prioritise infrastructural development to meet the targets set by the Railway Board. He called for the preparation of comprehensive action plans to overcome challenges through effective planning and teamwork. ADRM Operations Manoj Kumar Sahoo, ADRM Infra E. Santharam and branch officers of various departments were present in the meeting held at the DRM office.
IOL News
13-05-2025
- Business
- IOL News
The impact of wealth on leadership dynamics within the ANC
Patrice Motsepe's quiet bid for the African National Congress presidency amid financial influence Image: Kelly Ayoundi Political analysts have cautioned that financial power, rather than political credentials, is increasingly shaping leadership positions within the top echelons of the African National Congress (ANC). Their comments arise during ongoing provincial elective conferences that will significantly influence the party's direction in the lead-up to the 56th national elective congress, scheduled for December 2027. Independent political analyst Joe Mhlanga argued that this party's reliance on wealth undermines its integrity and ability to genuinely serve the people. 'Voters are becoming more aware of how money influences internal party processes,' he said. 'In the ANC, it's no longer about qualities of leadership or service records — it's about who can mobilise the most resources.' Mhlanga pointed to the controversial CR17 campaign that propelled Cyril Ramaphosa to the ANC leadership and South Africa's presidency. The campaign reportedly raised over R2 billion, which was used to garner internal support within the party and outside backing for Ramaphosa. 'To win a conference, history reminds us that one needs to raise at least R2 billion,' Mhlanga added. 'Money has become the real currency of power in the ANC.' Patrice Motsepe's Quiet Campaign Amid this backdrop, whispers are growing that Patrice Motsepe, the billionaire businessman and president of the Confederation of African Football (CAF), is quietly mobilising support for a possible bid for the ANC presidency. Although he has not publicly declared his intentions, sources suggest that support is building behind the scenes. When approached by IOL, Motsepe declined to comment. A close associate involved in what is being dubbed the 'M27' campaign told IOL that Motsepe 'will only engage publicly after the ANC's Bilateral General Meeting (BGM) has taken place.' The source added, 'For now, he's observing quietly and waiting for the right moment to speak.' Party Leaders Call for Silence Meanwhile, ANC Secretary-General Fikile Mbalula has issued a firm directive, urging party leaders not to engage in public succession debates. 'We want to avoid factions and division,' Mbalula said recently at Luthuli House. 'Let's focus on uniting the party and preparing for the conference without unnecessary public speculation.' Despite this, speculation about potential candidates continues to swirl, with names like Deputy President Paul Mashatile, Mbalula himself, and Police Minister Bheki Cele mentioned as possible contenders. Implications for the ANC Mhlanga warns that the party risks further voter erosion and declining credibility unless it confronts its dependence on money and internal corruption. 'The ANC must return to traditional politics, honest debate, policy focus, and service delivery,' he urged. 'Otherwise, the cycle of money-driven leadership will persist, and the party's relevance will continue to decline.' Earlier this year, Mbalula restructured the Gauteng and KwaZulu-Natal provincial structures to regain ground. He immediately reshuffled subcommittees and provincial deployees, citing the need to reinforce party committees and implement the principle of rotation. Analysts' View on New Provincial Task Teams Political analysts have weighed in on these developments. They note that the newly appointed Provincial Task Teams (PTTs) in Gauteng and KwaZulu-Natal will face significant challenges in restoring support unless they address internal governance issues and factional conflicts. Dr Metji Makgoba, a senior lecturer at the University of Limpopo, commented on the ANC's efforts in these provinces. 'The decline of the ANC in Gauteng and KZN stems from internal leadership conflicts, the rise of opposition parties, and shifting voter priorities,' he said. In Gauteng, Makgoba noted, the focus has shifted from party loyalty to effective governance and service delivery. 'Voters now demand stability and tangible results, but successive governments have struggled to maintain governance continuity, which weakens public trust.' In KwaZulu-Natal, the situation is further complicated by the influence of former President Jacob Zuma and the emergence of new political formations like uMkhonto weSizwe (MK) party. 'Zuma's charisma, cultural resonance, and deep ties to traditional structures have made it difficult for the ANC to reclaim lost ground,' Makgoba explained. He also highlighted ongoing tensions within the party, particularly between traditional councils and provincial leaders, which continue to undermine stability and progress. [email protected] IOL Politics
New Straits Times
04-05-2025
- Politics
- New Straits Times
Sports Commissioner says Malaysian cricket leadership still in limbo
KUALA LUMPUR: Though the Malaysian Cricket Association (MCA) has elected a new set of office bearers, the controversy over its leadership is far from over. Sports Commissioner Suhardi Alias has said that the national body's leadership dispute remains unresolved due to legal proceedings initiated by two parties. "As both sides have lodged police reports and taken legal action, we cannot accept or reject the outcome of the BGM (Biennial General Meeting) at this stage," said Suhardi when contacted by Timesport on Sunday. "We must wait for the police to complete their investigations and for the court to determine the status of the association. Only then will we make a final decision based on verified facts." In April, the MCA held an Emergency General Meeting (EGM) to pass a vote of no confidence against its then president Mohammed Iqbal Ali Kassim Ali. An insider said 11 state affiliates were unhappy with Iqbal's leadership and his unilateral decision-making. Iqbal subsequently resigned, claiming of a coup against him. However, he retracted his resignation letter and argued that the requisition for the EGM — aimed at removing MCA executive committee members — was likely ultra vires (without authority) and conducted in bad faith. He alleged that several individuals nominated for leadership positions were aware of the alleged plot, with one even acting as a representative for the purported signatories. Iqbal, who served two terms as MCA president from 2021, said reports had been lodged with the Sports Commissioner's Office and the International Cricket Council Anti-Corruption Unit for immediate intervention. Additional reports were also filed with the Royal Malaysia Police and the Malaysian Anti-Corruption Commission. However, the MCA "new faction" proceeded with their BGM on April 27, during which Mahinda Vallipuram returned as president, having previously held the role from 2015-2021. Malaysian cricket has drawn renewed attention following the allocation of RM1 million for the sport's development under Budget 2025. Under Iqbal's leadership, the MCA hosted the Under-19 women's T20 World Cup from Jan 18-Feb 2. However, Malaysia lost all their four group-stage matches and finished last in the 16-team tournament.
