Month: July 2025

CALGARY, AB, July 16, 2025 /PRNewswire/ – Exro Technologies Inc. (TSX: EXRO) (“Exro” or the “Company“), a leading clean technology company specializing in power control solutions for electric vehicles and energy storage, provides a further update on the satisfaction of the near-term strategic milestones established in connection with the company’s US$30 million credit facility announced on May 16, 2025 (the “Facility“).

Postponement of Debenture Security

As the Company announced in its May 16, 2025 news release, advances under the Facility require Exro to meet various milestones, one of which was either (1) the postponement of security from a requisite majority of the Company’s $15 million of debentures issued pursuant to an indenture dated December 30, 2022 (the “Convertible Debentures“), or (2) the redemption of the Convertible Debentures for Exro shares.

The December 30, 2022 indenture governing the Convertible Debentures (the “Indenture“) has been amended to provide that the lender under the Facility has a first priority security interest on substantially all of the assets of the Company, and the Convertible Debentures now have a second priority security position, ranking pari passu with previously issued secured notes of the Company in the aggregate amount of US $70,832,830.  In addition, the Indenture was amended to include a 120 day standstill period in respect of the enforcement of certain rights by the holders of the Convertible Debentures on the occurrence of an event of default under the Indenture. The amendments to the Indenture were approved by an extraordinary resolution of over 66 2/3% of the principal outstanding amount of the Convertible Debentures and are contained in an Amended and Restated Indenture dated July 11, 2025, a copy of which has been filed under the Company’s profile at www.sedar.com.

Exro thanks the Convertible Debenture holders who supported the Company in this initiative.

Strategic Review

The strategic review process described in the Company’s May 16, 2025 press release remains active and is progressing positively. The Company has received an extension of the Facility milestone of demonstrating active engagement with three credible strategic partners from July 15 to July 31, 2025.

ABOUT EXRO TECHNOLOGIES INC.

Exro Technologies Inc., now expanded through the strategic acquisition of SEA Electric, is a leading clean technology company that has developed new-generation power control electronics. Its innovative suite of solutions, including Coil Driver™, Cell Driver™, and SEA-Drive®, expand the capabilities of electric motors and batteries and offer OEMs a comprehensive e-propulsion solution with unmatched performance and efficiency. Exro is reshaping global energy consumption, accelerating adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results. 

For more information visit our website at www.exro.com.

To view our Corporate Presentation visit us at www.exro.com/investors

Visit us on social media @exrotech.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified using terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved”. Forward looking statements involve risks, uncertainties and other factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators, that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company’s annual information form for the financial year ended December 31, 2024, and financial statements and related MD&A for the financial year ended December 31, 2024, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedarplus.ca. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties, and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated, or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this press release.

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SOURCE Exro Technologies Inc.

• Best ESG rating tier of negligible-risk with a top 1% global ranking score
• Industry and Regional ESG Top-Rated Company for five consecutive years
• Leader in Green CRDMO to drive innovation for a healthier future

SHANGHAI, July 16, 2025 /PRNewswire/ — WuXi Biologics (2269.HK), a leading global Contract Research, Development, and Manufacturing Organization (CRDMO), today announced it has elevated its Morningstar Sustainalytics ESG rating score to the highest negligible-risk tier, demonstrating its leadership in the global pharmaceutical industry.

Sustainalytics is a leading ESG data, research, and ratings firm that supports global investors with their development and implementation of responsible investment strategies. Its 2025 ESG Risk Ratings—covering more than 15,000 companies across different industries worldwide—evaluates over 20 material ESG issues through over 200 indicators and categorizes rating results across five risk levels, from the best negligible to the worst severe.

Under the two-dimensional assessment framework, WuXi Biologics achieved the lowest level of risk exposure and was given the strongest risk management score, placing it in the negligible-risk tier with a top 1% global ranking. In addition, for the fifth consecutive year, the company has been recognized by Morningstar Sustainalytics as an Industry and Regional ESG Top-Rated Company.

Dr. Chris Chen, WuXi Biologics CEO and Chairman of the ESG Committee, commented, “We are very pleased to have achieved the negligible-risk rating from Morningstar Sustainalytics. It is a reflection of and recognition for WuXi Biologics’ continuous commitment to enhancing sustainability capabilities. As a global leader in Green CRDMO, we are focused not only on delivering our own ESG excellence but also on enabling partners worldwide to fulfill their ESG commitments, collaborating with all stakeholders to promote responsible practices throughout the entire value chain.”

As a participant of the United Nations Global Compact (UNGC) and the Pharmaceutical Supply Chain Initiative (PSCI), the company proactively contributes to advocating sustainability and has earned widespread recognitions for its efforts. It has been granted a MSCI AAA rating; awarded an EcoVadis Platinum Medal; listed in the Dow Jones Sustainability Indices (DJSI); named to the CDP Water Security “A list” and given an A- CDP Climate Change leadership-level score since 2023; selected as a Constituent of the FTSE4Good Index Series; listed in the Hang Seng ESG 50 Index; and rated as Prime by ISS ESG Corporate Rating.

About Morningstar Sustainalytics
Morningstar Sustainalytics is a leading ESG data, research, and ratings firm that supports investors around the world with the development and implementation of responsible investment strategies. For more than 30 years, the firm has been at the forefront of developing high-quality, innovative solutions to meet the evolving needs of global investors. Today, Morningstar Sustainalytics works with hundreds of the world’s leading asset managers and pension funds who incorporate ESG information and assessments into their investment processes. The firm also works with hundreds of companies and their financial intermediaries to help them consider material sustainability factors in policies, practices, and capital projects. Morningstar Sustainalytics has analysts around the world with varied multidisciplinary expertise across more than 40 industry groups. For more information, visit www.sustainalytics.com.

About WuXi Biologics
WuXi Biologics (stock code: 2269.HK) is a leading global Contract Research, Development and Manufacturing Organization (CRDMO) offering end-to-end solutions that enable partners to discover, develop and manufacture biologics – from concept to commercialization – for the benefit of patients worldwide.

With over 12,000 skilled employees in China, the United States, Ireland, Germany and Singapore, WuXi Biologics leverages its technologies and expertise to provide customers with efficient and cost-effective biologics discovery, development and manufacturing solutions. As of December 31, 2024, WuXi Biologics is supporting 817 integrated client projects, including 21 in commercial manufacturing (excluding COVID CMO projects).

WuXi Biologics regards sustainability as the cornerstone of long-term business growth. The company continuously drives green technology innovations to offer advanced end-to-end Green CRDMO solutions for its global partners while consistently achieving excellence in Environment, Social and Governance (ESG). Committed to creating shared value, it collaborates with all stakeholders to foster positive social and environmental impacts and promote responsible practices that empower the entire value chain.

For more information about WuXi Biologics, please visit: www.wuxibiologics.com.

Contacts

ESG

esg@wuxibiologics.com

Media

PR@wuxibiologics.com

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SOURCE WuXi Biologics

Recent Form 8-K Filing Indicates that Tisch and Bielli Led Board Has Learned Nothing about Disclosure and Transparency from the Company’s Recent Proxy Fight

Urges Tejon Ranch’s Board of Directors to Disclose Full Details Surrounding Brett Brown’s Departure  

Calls on Tejon’s Independent Directors to Follow the Recommendations of Leading Proxy Advisory Firms in Adopting PFS Trusts Shareholder Proposal that Received 49.3% of the Vote

PALO ALTO, Calif., July 16, 2025 /PRNewswire/ — Glenbrook Capital Management (“Glenbrook” or “we”), a long-time shareholder of Tejon Ranch Co. (NYSE: TRC) (“Tejon” or the “Company”) with more than 300,000 shares of Tejon, made the following statement regarding the unexplained departure on July 11, 2025 of CFO Brett A. Brown. Grover Wickersham, Chairman of Glenbrook stated:

“There has been no press release or public disclosure other than the statement in a Form 8-K late last Friday that Mr. Brown ‘separated from employment.’ This raises more questions than answers, leaving us disappointed by the Tisch-led board’s apparent continuing disregard for public shareholders. The Form 8-K Friday minimally announced Brett Brown’s abrupt departure as Chief Financial Officer and Treasurer, providing no reason or context for the sudden exit of its second most senior executive.

Mr. Brown was Tejon’s sole senior executive with an SEC compliance background and his contributions to Tejon should not be overlooked. At Glenbrook, we were impressed by Mr. Brown’s origination of a very favorable Farm Credit loan on behalf of Tejon, his participation at investor conferences and his improvements to Tejon’s financial disclosure, such as better illuminating G & A expenses. The shareholders deserve to know why Mr. Brown ‘separated from employment.’

Shareholders are left to wonder if there is fire where there is smoke. If Mr. Brown’s exit was related to disagreements over Tejon company policies, operations, or accounting practices – such as failing to take an impairment charge for the obscenely mismanaged Centennial project, then shareholders have the right to know. We believe e SEC disclosure requirements provide that such issues be disclosed fully and promptly.

Tejon’s trademark lack of transparency on such an important development only serves to erode the Company’s dwindling supply of shareholder trust.  For this reason, we again urge the independent directors to retain independent counsel to advise them on changing course.  Tejon’s public shareholders control the majority of Tejon’s outstanding shares. Transparency is essential to building shareholder trust, especially in light of the calls for increased disclosure during the recent proxy contest.

Implementing PFS Trust’s shareholder proposal, which we called on the Board to implement in May, would allow Tejon shareholders owning a combined 10% of outstanding shares to call a special meeting of shareholders. That proposal, combined with adequate disclosure around Mr. Brown’s departure, would go a long way to salvage what little shareholder trust remains. This underscores the vital importance of Tejon shareholders having the ability to hold the Board and management accountable.   

We once again call on the independent directors to implement the PFS Trust shareholder proposal, which was overwhelmingly supported by Tejon’s public shareholders, and to immediately and transparently disclose further details of Mr. Brown’s departure and clearly communicate plans to cover the crucial function that he served.”

Media Contact:
ASC Advisors
Taylor Ingraham
Partner, ASC Advisors
tingraham@ascadvisors.com
203-992-1230

Investor Contact:
Richard Rudgley
President, Glenbrook Capital Management
richard@glenbrookcapital.net

Grover Wickersham
Chairman, Glenbrook Capital Management
415-601-1111 

Disclaimer and Cautionary Statement Regarding Forward-Looking Statements
This press release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein in any state to any person.

The information herein contains “forward-looking statements.” Specific forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and include, without limitation, words such as “may,” “will,” “expects,” “believes,” “anticipates,” “plans,” “estimates,” “projects,” “potential,” “targets,” “forecasts,” “seeks,” “could,” “should” or the negative of such terms or other variations on such terms or comparable terminology. Similarly, statements that describe our objectives, plans or goals are forward-looking. Forward-looking statements are subject to various risks and uncertainties and assumptions. There can be no assurance that any idea or assumption herein is, or will be proven, correct or that any of the objectives, plans or goals stated herein will ultimately be undertaken or achieved. If one or more of such risks or uncertainties materialize, or if Glenbrook underlying assumptions prove to be incorrect, the actual results may vary materially from outcomes indicated by these statements. Accordingly, forward-looking statements should not be regarded as a representation by Glenbrook that the future plans, estimates or expectations contemplated will ever be achieved.

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SOURCE Glenbrook Capital Management

Inspiring young talents to pioneer innovations in green technology, advanced manufacturing, and digital intelligence

SHANGHAI, July 16, 2025 /PRNewswire/ — Shanghai Electric (SEHK: 2727, SSE: 601727) recently officially launched the 2025 Digital Intelligence Technology Tournament (the “Tournament”) to empower the long-term development of young talent fostered by embracing and leveraging AI and digital technologies. These concrete actions are in alignment with the theme of the 2025 World Youth Skills Day, celebrating the vital role of young people as catalysts for change with AI and digital skills adopted.

Aiming to inspire young professionals to push the boundaries of AI and digital innovation while driving the industry’s digital and intelligent transformation, the Tournament—open to all Shanghai Electric employees worldwide since June 27— encourages the submission of digital tools and research papers. These contributions focus on optimizing and advancing existing technologies, fostering industry-wide digital and intelligent transformation, and promoting the growth of digital intelligence.

Shanghai Electric is committed to long-term employee development and talent empowerment. As an indication of this dedication, the company has implemented comprehensive training programs for all staff, spanning management, technical, professional, and skilled roles. In 2024, Shanghai Electric invested a total of 107.84 million yuan (USD 15.03 million) in staff training, covering 98.61 percent of employees, with an average of 3.4 training days per person.

The company has clearly defined competency requirements for each job level and role, including abilities, qualities, knowledge, and skills, aligning with targeted training courses offered through initiatives, such as the “AIK” curriculum and the “E-Academy” online platform.

In 2024, Shanghai Electric was officially recognized as a “Shanghai Training Base for Young and Middle-Aged Engineers.” It also won the title of the “2024 Most Popular Employer Among Chinese University Students” by 51Job and received the “2024 Annual HR Pioneering Practice Award” from GHR.

In addition, developing high-value patents is essential for establishing a globally recognized center for science and technology innovation. In 2024, Shanghai Electric organized seminars focused on high-value patents, providing participants with a deeper understanding and promoting the development of high-quality intellectual property at the company. By the end of 2024, Shanghai Electric held 6,823 valid patents, including a cumulative total of 3,276 patents for invention.

The continuous talent development ecosystem built by Shanghai Electric is spearheading the deep dive into digital intelligence and accelerating transformation across the industry.

Shanghai Electric harnesses digital technologies to enhance the performance of energy equipment and reduce operating costs. By integrating IoT and AI, the company proactively predicts and addresses potential issues in wind power equipment, significantly boosting maintenance efficiency and ensuring more reliable operations.

Additionally, digital intelligence streamlines production and management processes through the seamless integration of AI, IoT, and blockchain technologies across R&D, production, and management, further advancing smart manufacturing upgrades.

To learn more about Shanghai Electric’s initiatives in talent development, please visit https://www.shanghai-electric.com/listed_en/upload/resources/file/2025/05/19//111560.pdf.

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SOURCE Shanghai Electric

HANGZHOU, China, July 16, 2025 /PRNewswire/ — ZEEKR Intelligent Technology Holding Limited (“Zeekr Group” or the “Company”) (NYSE: ZK), the world’s leading premium new energy vehicle group, today announced that it will report its unaudited financial results for the second quarter ended June 30, 2025, before the U.S. markets open on Thursday, August 14, 2025.

About Zeekr Group

Zeekr Group, headquartered in Zhejiang, China, is the world’s leading premium new energy vehicle group from Geely Holding Group. With two brands, Lynk & Co and Zeekr, Zeekr Group aims to create a fully integrated user ecosystem with innovation as a standard. Utilizing its state-of-the-art facilities and world-class expertise, Zeekr Group is developing its own software systems, e-powertrain and electric vehicle supply chain. Zeekr Group’s values are equality, diversity, and sustainability. Its ambition is to become a true global new energy mobility solution provider.

For more information, please visit https://ir.zeekrgroup.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “future,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to,” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor Relations Contact

In China:

ZEEKR Intelligent Technology Holding Limited
Investor Relations
Email: ir@zeekrlife.com

Piacente Financial Communications
Tel: +86-10-6508-0677
Email: Zeekr@thepiacentegroup.com

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: Zeekr@thepiacentegroup.com

Media Contact

Email: Globalcomms@zeekrgroup.com

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SOURCE ZEEKR Intelligent Technology Holding Limited