Qiansui Intl Gr Co Stock (OTC:QIAN), Trade Ideas

Qiansui International Group Co Ltd is a shell company.

QIANSUI INT GRO CO LTD by Qiansui International Group Co Ltd.

Qiansui International Group Co Ltd

QIAN YUAN BAIXING INC by Qian Yuan Baixing, Inc.

Qian Yuan Baixing Inc

Sagimet Biosciences Inc. ((Sagimet, NASDAQ:<a href="https://www.benzinga.com/stock/SGMT#NASDAQ">SGMT</a>), a clinical-stage biopharmaceutical company developing novel fatty acid synthase (FASN) inhibitors designed to target dysfunctional metabolic and fibrotic pathways, today announced a General Session oral presentation of denifanstat Phase 2b FASCINATE-2 study data in metabolic dysfunction-associated steatohepatitis (MASH) will be given at the European Association for the Study of the Liver (EASL) International Liver Congress 2024 held in Milan, Italy from June 5-8, 2024. &nbsp;
EASL Presentation Details:
General Session Oral Presentation Title: Denifanstat, a fatty acid synthase (FASN) inhibitor, shows significant fibrosis improvement and MASH resolution in FASCINATE-2, a Ph2b 52 week international, randomized, double blind, placebo-controlled trial in patients with F2 or F3 fibrosis. Presenter: Rohit Loomba M.D., MHSc, ASLD Research Center, Division of Gastroenterology and Hepatology, Department of Medicine, University of California San Diego, La Jolla, United States Date and time: Thursday, June 6th, 2024, 12:15 – 12:30 CEST

Biotech

News

General

SGMT

Sagimet Announces Oral Presentation Of Data From The Phase 2b FASCINATE-2 Study Of Denifanstat In MASH At EASL International Liver Congress 2024

Tech billionaire <a href="https://www.benzinga.com/topic/elon-musk">Elon Musk</a> opened up about the three troubling things that keep him up at night and the one thing that is his biggest source of joy.
Speaking at the Milken Institute's 27th Global Conference, the Tesla Inc. CEO voiced his concerns about the human civilization's future. He has talked about it quite often in the past, too, but Musk dived into more detail during his conversation with Mike Milken.
So, what keeps the third richest person in the world up at night?
<h3 class="wp-block-heading">1. Civilizational Risk Due To Falling Birth Rates</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064759/Musk-1-1024x585.jpg" alt="" class="wp-image-325713" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064759/Musk-1-1024x585.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064759/Musk-1-300x171.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064759/Musk-1-768x439.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064759/Musk-1-1536x878.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064759/Musk-1.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representational image of falling birth rates &#x7C; Image generated using Dall-E</figcaption></figure>
Musk has been vocal about the decline of humanity due to plummeting birth rates. He ranked it amongst the top issues that keep him up at night.
"You know… birth rates [are] continuing to plummet. I do think about the birth rates plummeting as being a civilizational risk."
Musk has talked about <a href="https://www.benzinga.com/news/24/03/37933859/elon-musk-wants-a-billion-americans-as-tesla-ceo-says-population-collapse-is-bigger-risk-to-civiliza">"population collapse"</a> as a "bigger risk to humanity than global warming." He wants a billion Americans and thinks that there is an impending crisis due to low birth rates.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
<h3 class="wp-block-heading">2. Threats To Democracy</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064830/Musk-2-1024x585.jpg" alt="" class="wp-image-325716" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064830/Musk-2-1024x585.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064830/Musk-2-300x171.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064830/Musk-2-768x439.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064830/Musk-2-1536x878.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064830/Musk-2.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representational image of protestors &#x7C; Image generated using Dall-E</figcaption></figure>
Next up on Musk's "keeping me up at night" issues are threats to the idea of democracy.
Reacting to independent presidential candidate Robert F. Kennedy Jr., <a href="https://www.benzinga.com/news/24/04/38039649/elon-musk-reacts-after-rfk-jr-calls-president-much-worse-threat-to-democracy-than-trump-biden-doesnt">Musk blamed</a> the "far left machine" instead of President Joe Biden for creating a "much worse threat" to democracy than former President Donald Trump.
He has called out censorship in the past, and even acquired Twitter, now X, in the <a href="https://www.benzinga.com/news/22/11/29792426/elon-musk-bought-twitter-in-the-name-of-free-speech-but-how-will-he-wield-his-new-power1">name of free speech</a>.
<h3 class="wp-block-heading">3. Threats To Merit-Based System</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064956/Musk-3-1024x585.jpg" alt="" class="wp-image-325718" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064956/Musk-3-1024x585.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064956/Musk-3-300x171.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064956/Musk-3-768x439.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064956/Musk-3-1536x878.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064956/Musk-3.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representational image of merit hanging in balance &#x7C; Image generated using Dall-E</figcaption></figure>
The third issue that's keeping Musk up at night is what he thinks are "threats" to a merit-based system.
"Anything that's leading us away from a merit-based system is a risk."
Musk has talked about it in the past when actor <a href="https://www.benzinga.com/general/entertainment/23/05/32277073/quotas-above-merit-elon-musk-agrees-with-actor-richard-dreyfuss-speaking-out-against-academ">Richard Dreyfuss said</a> that changes to the Academy Award rules "Make me vomit."
This drew a reaction from Musk, who said, "Any organization that puts quotas above merit, instantly devalues their awards."
<h3 class="wp-block-heading">Here's Musk's Biggest Source Of Joy</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064852/Musk-4-1024x585.jpg" alt="" class="wp-image-325717" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064852/Musk-4-1024x585.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064852/Musk-4-300x171.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064852/Musk-4-768x439.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064852/Musk-4-1536x878.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07064852/Musk-4.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representational image of joyful kids with their parent &#x7C; Image generated using Dall-E</figcaption></figure>
Musk opened up about the happy side of things in his life, saying that his kids give him joy.
"I probably get the most joy from my kids. I'm not saying that's the reason to have kids… kids are the greatest source of joy in my life."
The Tesla CEO has 11 children.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38636317/elon-musk-says-ai-will-shorten-the-cycle-of-crises-shaping-societies-and-creating-new-orders-heres-w">Elon Musk Says AI Will &#8216;Shorten&#8217; The Cycle Of Crises Shaping Societies And Creating New Orders: Here&#8217;s What It Means</a>
Photo via Shutterstock

Politics

Tech

Tech Billionaire Elon Musk Reveals The 3 Things That Keep Him 'Up At Night' And One Thing That Is His Biggest Source Of Joy

<ul>
<li>The presentation reports the development of a beta 2 microglobulin-knockout (B2M-KO) iMSC line with enhanced immunosuppressive activity and stealthing features that may further augment the therapeutic potential of MSCs in treating inflammatory diseases by precluding batch-to-batch inconsistencies, promoting in vivo persistence, and enhancing the effector function of the cells &nbsp;</li>
<li>The presentation is on Saturday, May 11th, 2024</li>
</ul>
CAMBRIDGE, Mass., May 07, 2024 (GLOBE NEWSWIRE) -- &nbsp;Eterna Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERNA#NASDAQ">ERNA</a>) ("Eterna" or the "Company"), a biopharmaceutical company using advanced cell engineering technology to develop transformational new medicines, today announces that Raven Hinkel will present at the 27th Annual Meeting of the American Society of Gene &amp; Cell Therapy, taking place in Baltimore, Maryland.
While mesenchymal stem cells (MSCs) have repeatedly demonstrated significant therapeutic potential in numerous preclinical models, their clinical translation has been greatly impeded by variability in therapeutic responses. This variability is often attributed to donor and source heterogeneity and limited expansion potential. Furthermore, MSCs can exhibit limited in vivo persistence due to clearance by host immune cells, which can also contribute to deficient therapeutic responses. Induced pluripotent stem cell (iPSC)-derived MSCs (iMSCs) promise to directly address many of the fundamental challenges facing MSC translation.
Here, we report the development of a beta 2 microglobulin-knockout (B2M-KO) iMSC line with enhanced immunosuppressive activity and stealthing features that may further augment the therapeutic potential of MSCs in treating inflammatory diseases by precluding batch-to-batch inconsistencies, promoting in vivo persistence, and enhancing the effector function of the cells.
The abstract concludes that B2M-KO iMSCs are more likely to evade immune clearance and exert their immunomodulatory effects, as demonstrated by their enhanced sensitivity of IDO1 expression and their improved ability to inhibit PBMC proliferation. Our data suggest that B2M-KO iMSCs may be a promising therapeutic agent for T-cell mediated autoimmune and inflammatory indications.
"We are thrilled to advance our iMSC research," says Sanjeev Luther, President and CEO. "iPSC-Derived iMSCs drive our Multiple Sclerosis pipeline candidate and are an important scientific focus for our team."
Presentation Details
Title: iMSCs Derived from mRNA-Engineered B2M-KO iPSCs Exhibit Enhanced Immunosuppressive Activity and Stealthing Features
Presenter: Raven Dance Hinkel, Research Associate II
Date: Saturday, May 11, 2024
Time: 10:30am - 10:45am
Session Title: Novel Immune Effector Cell Manufacturing
Session Room: Ballroom 2
Location: Baltimore Convention Center in Baltimore, MD

ERNA

Eterna Therapeutics To Present at The ASGCT 27th Annual Meeting On Development Of Beta 2 Microglobulin-Knockout iMSC Line With Enhanced Immunosuppressive Activity And Stealthing Features That May Further Augment The Therapeutic Potential Of MSCs In Inflammatory Diseases

Consolidated Comms Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNSL#NASDAQ">CNSL</a>) reported quarterly losses of $(0.27) per share which beat the analyst consensus estimate of $(0.43) by 37.21 percent. The company reported quarterly sales of $274.675 million which beat the analyst consensus estimate of $274.596 million by 0.03 percent. This is a 0.53 percent decrease over sales of $276.126 million the same period last year.

Earnings

Earnings Beats

CNSL

Consolidated Comms Hldgs Q1 2024 Adj EPS $(0.27) Beats $(0.43) Estimate, Sales $274.675M Beat $274.596M Estimate

Jefferies analyst Dennis Ding downgrades Lyra Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYRA#NASDAQ">LYRA</a>) from Buy to Hold and lowers the price target from $10 to $0.5.

Downgrades

Price Target

Analyst Ratings

LYRA

Jefferies Downgrades Lyra Therapeutics to Hold, Lowers Price Target to $0.5

Oppenheimer analyst Jeff Jones maintains Pliant Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLRX#NASDAQ">PLRX</a>) with a Outperform and raises the price target from $47 to $48.

PLRX

Oppenheimer Maintains Outperform on Pliant Therapeutics, Raises Price Target to $48

CART

UBER

Instacart And Uber Announce Partnership To Bring Uber Eats Restaurant Delivery To Instacart Customers

Contracts

LDOS

Leidos Secures $631M Sensor Contract From US Army

<a href="https://www.globenewswire.com/Tracker?data=5eMwXcpK6MraK7DaZ0X3rEmzCM87qD0lCI3RWN7H3f2tEf-NcLNe3OFQWEEK5EVcRLTWHPTEGM679EN7Y6FQ7rELxL3XE1rUuk-qk7cPUr8=">Matinas BioPharma</a> Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTNB#NYSE">MTNB</a>), a clinical-stage biopharmaceutical company focused on delivering groundbreaking therapies using its lipid nanocrystal (LNC) platform delivery technology, announces that <a href="https://www.globenewswire.com/Tracker?data=K_Ei9EimegXDSPYlcwpSHYWB3-CvXnRxMSNUvehx6krtfOO680O_MTcr8KeqpS8fO_EOhg2uCYOrHqfCxB5PrJpOeoFpQnJ_8O0Iw1nFOasfNSisxL0skbPw1-uTVte6oMydR31p_bMI579CoWSSGmeXLrhl03LMn9HDXeJgCKY2BqOvA2fgJV6jptQlndVDOBQHfmdiIzK2lf011gQqmDQDeMGhFseLo-mvUjKqYtA=">James J. Ferguson, M.D., Chief Medical Officer of Matinas</a>, will be presenting two abstracts at the <a href="https://www.globenewswire.com/Tracker?data=hrxt1VHy9R6stRGUzy9B_dXxFIsDP86shFeFUVKVh4N0BtIxHfLgDEcDQ3zQZ2IKUQStoLWVZsYYU0ZqIjk8S10ZVl2Vmvt04iG0L6YTB3_5idmLdatph1JfgvdHAARQ">ASGCT 27th Annual Meeting</a> being held May 7-11, 2024 in Baltimore highlighting data from ex vivo, in vitro and in vivo studies evaluating the use of Matinas' LNC platform for the uptake and targeted delivery of small oligonucleotides. &nbsp;
Presentations:
<figure class="table"> 
<table>
<tbody>
<tr>
<td>Title:</td>
<td><a href="https://annualmeeting.asgct.org/abstracts/abstract-details?abstractId=98059">Lipid Nanocrystal Delivery of siRNA: Dynamics of Uptake in Innate Immune</a> <a href="https://annualmeeting.asgct.org/abstracts/abstract-details?abstractId=98059">Cells in Human Blood and Visualization of Small Oligonucleotide Delivery</a> <a href="https://annualmeeting.asgct.org/abstracts/abstract-details?abstractId=98059">in Cell Cultures</a></td>
</tr>
<tr>
<td>Format:</td>
<td>Oral Presentation</td>
</tr>
<tr>
<td>Location:</td>
<td>Room 314-317</td>
</tr>
<tr>
<td>Date/Time:</td>
<td>May 10, 4:15 pm ET</td>
</tr>
</tbody>
</table>
</figure>
"In the first presentation we report on the dynamics of LNC uptake and cargo delivery ex vivo and in vitro and shows that LNCs – both with and without cargo – are avidly taken up by innate immune cells – like phagocytes – in human blood," said Dr. Ferguson. "We were also able to dynamically visualize the actual processes of LNC uptake and cargo delivery in cultured cells, with very different dynamics in somatic and cancer cells. These exciting data strongly support our belief that LNCs hold significant future promise for intracellular delivery of complex therapeutics."
<figure class="table"> 
<table>
<tbody>
<tr>
<td>Title:</td>
<td><a href="https://annualmeeting.asgct.org/abstracts/abstract-details?abstractId=98060">Successful In Vivo Oral Delivery of Biologically Active and Therapeutic Anti-</a> <a href="https://annualmeeting.asgct.org/abstracts/abstract-details?abstractId=98060">Inflammatory mRNA-Targeted Oligonucleotides with a Lipid Nanocrystal</a> <a href="https://annualmeeting.asgct.org/abstracts/abstract-details?abstractId=98060">Delivery Platform</a></td>
</tr>
<tr>
<td>Format:</td>
<td>Poster Session</td>
</tr>
<tr>
<td>Location:</td>
<td>Exhibit Hall</td>
</tr>
<tr>
<td>Date/Time:</td>
<td>May 10, 12:00-7:00 pm ET</td>
</tr>
<tr>
<td>Poster #:</td>
<td>1709</td>
</tr>
</tbody>
</table>
</figure>
"This second presentation builds on the in vitro work to show that our LNC platform can be used in vivo to orally deliver biologically active – and potentially therapeutic – oligonucleotides designed to target key cytokines in inflammatory disease models," added Dr. Ferguson. "We are currently focused on optimizing these LNC formulations to improve delivery efficiency, increase potency and extend application of oral cytokine-targeting oligo therapeutics to additional inflammatory disease models."

MTNB

Matinas BioPharma's LNC Platform For The Delivery Of Small Oligonucleotides Featured In Two Presentations At The ASGCT Annual Meeting

GCM Grosvenor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GCMG#NASDAQ">GCMG</a>) reported quarterly earnings of $0.14 per share which met the analyst consensus estimate. This is a 40 percent increase over earnings of $0.10 per share from the same period last year. The company reported quarterly sales of $108.866 million which missed the analyst consensus estimate of $113.367 million by 3.97 percent. This is a 9.84 percent increase over sales of $99.116 million the same period last year.

Earnings Misses

GCMG

GCM Grosvenor Q1 2024 Adj EPS $0.14, Inline, Sales $108.866M Miss $113.367M Estimate

Cogent Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COGT#NASDAQ">COGT</a>) reported quarterly losses of $(0.62) per share which missed the analyst consensus estimate of $(0.51) by 21.57 percent. This is a 14.81 percent decrease over losses of $(0.54) per share from the same period last year.

COGT

Cogent Biosciences Q1 EPS $(0.62) Misses $(0.51) Estimate

Talkspace (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TALK#NASDAQ">TALK</a>) reported quarterly losses of $(0.01) per share which met the analyst consensus estimate. This is a 80 percent increase over losses of $(0.05) per share from the same period last year. The company reported quarterly sales of $45.42 million which beat the analyst consensus estimate of $44.50 million by 2.06 percent. This is a 36.24 percent increase over sales of $33.34 million the same period last year.

TALK

Talkspace Q1 EPS $(0.01), Inline, Sales $45.42M Beat $44.50M Estimate

Needham analyst Alex Henderson reiterates Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) with a Buy and maintains $220 price target.

Reiteration

Needham Reiterates Buy on Fabrinet, Maintains $220 Price Target

Guidance

HRTX

Heron Therapeutics Reaffirms FY24 Revenue $138.0M-$158.0M Vs $144.875M Est.

Financial Guidance
&nbsp;
<table cellspacing="0" style="width:100%">
<tbody>
<tr>
<td style="vertical-align:top">2024 Full Year Financial Guidance</td>
<td colspan="3" style="text-align:center; vertical-align:bottom">Low</td>
<td colspan="3" style="text-align:center; vertical-align:bottom">High</td>
</tr>
<tr>
<td style="vertical-align:bottom; width:70%">Net sales</td>
<td style="text-align:right; vertical-align:bottom; width:1%">$</td>
<td style="text-align:right; vertical-align:bottom; width:11%">525,000</td>
<td style="text-align:right; vertical-align:bottom; width:1%">$</td>
<td style="text-align:right; vertical-align:bottom; width:11%">560,000</td>
</tr>
<tr>
<td style="vertical-align:bottom">Adjusted EBITDA</td>
<td style="text-align:right; vertical-align:bottom">$</td>
<td style="text-align:right; vertical-align:bottom">34,000</td>
<td style="text-align:right; vertical-align:bottom">$</td>
<td style="text-align:right; vertical-align:bottom">39,000</td>
</tr>
<tr>
<td style="vertical-align:bottom">Free cash flow</td>
<td style="text-align:right; vertical-align:bottom">$</td>
<td style="text-align:right; vertical-align:bottom">12,000</td>
<td style="text-align:right; vertical-align:bottom">$</td>
<td style="text-align:right; vertical-align:bottom">18,000</td>
</tr>
<tr>
<td style="vertical-align:bottom">Capital spending as a percent of sales</td>
<td style="text-align:right; vertical-align:bottom">2.0</td>
<td style="text-align:right; vertical-align:bottom">%</td>
<td style="text-align:right; vertical-align:bottom">2.5</td>
<td style="text-align:right; vertical-align:bottom">%</td>
</tr>
</tbody>
</table>

FSTR

L.B. Foster Sees FY2024 Sales $525.000M-560.000M vs $548.89M Est

Core Molding Technologies (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/CMT#AMEX">CMT</a>) reported quarterly earnings of $0.43 per share which beat the analyst consensus estimate of $0.28 by 53.57 percent. This is a 34.85 percent decrease over earnings of $0.66 per share from the same period last year. The company reported quarterly sales of $78.14 million which beat the analyst consensus estimate of $77.69 million by 0.59 percent. This is a 21.47 percent decrease over sales of $99.51 million the same period last year.

Core Molding Technologies Q1 EPS $0.43 Beats $0.28 Estimate, Sales $78.14M Beat $77.69M Estimate

Golden Sun Health Technology Group Limited, formerly known as Golden Sun Education Group Limited (the "Company" or "Golden Sun") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSUN#NASDAQ">GSUN</a>), a provider of tutorial services in China, today announced that the Company received a written notification (the "Notification Letter") from the Nasdaq Stock Market LLC ("Nasdaq") on May 3, 2024, informing the Company that it has regained compliance with the Nasdaq's minimum bid price requirement. According to the Notification Letter, as of May 2, 2024, Golden Sun has maintained a closing bid price of $1.00 per share for ten consecutive trading sessions following a 1 for 10 reverse stock-split on April 19, 2024.

GSUN

Golden Sun Health Technology Group Limited Regains Compliance With Nasdaq Continued Listing Requirement

WK Kellogg Reaffirms 2024 Adj .Net Sales And Adj. EBITDA Guidance

Haoxi Health Technology Limited (the "Company" or "HAO"), an online marketing solution provider headquartered in Beijing, China, today announced that Beijing Haoxi Digital Technology Co., Ltd. ("Haoxi Beijing"), a wholly-owned subsidiary of the Company, entered into a bidding data promotion rebate agreement (the "Rebate Agreement") on April 29, 2024 with Jinan Yanling Biotechnology Co., Ltd. ("Yanling") and its subsidiaries and affiliated companies (together, the "Clients"). &nbsp;
Pursuant to the Rebate Agreement, Haoxi Beijing has agreed to provide comprehensive advertising and promotion services to the Clients, which operate in biomedical drug development, health technologies and other healthcare-related industries. The Rebate Agreement sets up a rebate system whereby the Clients receive a rebate based on factors such as bidding data, industry relevance, delivery and business models, and adherence to the Rebate Agreement's requirements and thresholds. The Rebate Agreement also sets a targeted advertising placement spend of no less than RMB50 million (approximately $7 million) within the term of the Rebate Agreement for the Clients.
Haoxi Beijing will utilize the advertising platform resources under the umbrella of ByteDance, a technology conglomerate globally, including Jinri Toutiao (Today's Headlines), Douyin, and Xigua Video. With its global appeal and extensive user base, ByteDance's platforms have become hotspots for short-video content, making them ideal platforms for e-commerce businesses to showcase their offerings. By capitalizing on ByteDance's platforms, Haoxi Beijing aims to help Yanling and its affiliated companies gain heightened exposure, elevate their brand image, and expand their market reach.
The mutually beneficial rebate arrangement between Haoxi Beijing and the Clients allows them to enjoy a proportionate rebate on their actual advertising expenditures across different platforms. The accumulated rebate amount can then be reinvested to further enhance future advertising campaigns, enabling the Clients to access additional promotional resources and seize greater opportunities for growth.
Mr. Zhen Fan, CEO and Chairman of the Company, commented: "HAO is thrilled about this partnership with Yanling and its subsidiaries and affiliated companies. By aligning with ByteDance's advertising platforms, HAO is poised to deliver highly efficient and precisely targeted advertising and promotion services to these enterprises.
"The signing of this Rebate Agreement signifies another milestone in HAO's continuous growth and business development within the advertising and online marketing industry. We anticipate a mutually rewarding partnership that will generate shared value and contribute to the advancement of our respective business endeavors."

Haoxi Health Technology Limited Enters Into Rebate Agreement With Clients On Advertising Placement Campaign

Jefferies analyst Stephanie Moore initiates coverage on UL Solutions (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ULS#NYSE">ULS</a>) with a Buy rating and announces Price Target of $42.