|Over a week ago|
Guardforce secures two long-term contracts for secured logistics services » 07:0201/1301/13/23
Guardforce AI announced…
Guardforce AI announced its subsidiary, Guardforce Cash Solutions Security Company has secured two long-term contracts with pre-existing clients for its secured logistics and cash handling services, further strengthening the Company's leading position in Thailand. Both clients converted into long-term agreements with GFCS following an expansion of the scope of services provided by GFCS. Both contracts started in the first quarter of 2023. The first contract is a 5-year agreement with Don Muang Tollway Public Company Limited, a toll facility management company that constructs and manages toll roads. GFCS is contracted by DMT to provide a variety of services to the Don Muang Tollway, including setting up and managing Guardforce Deposit Machines at key toll plazas, as well as providing cash handling, cash-in-transit and coupon counting. The second contract is a 3-year contract with a renowned retail chain store in Thailand. GFCS is contracted to provide cash-in-transit and counting services for 326 out of this company's 644 stores in northern Thailand.
|Over a month ago|
Guardforce enters agreement to acquire certain assets from Shenzhen Kewei » 09:0312/2112/21/22
Guardforce AI announced…
Guardforce AI announced it has signed a definitive agreement with Shenzhen Kewei Robot Technology Company to acquire certain of Kewei's robot business-related assets in China. Kewei will transfer select equipment assets, client base in the sales pipeline and related sales channels and staff, as well as provide rights to the permanent use of its patents, thereby enhancing Guardforce AI's new Robot-as-a-Service sales and capabilities. The purchase price for these assets is expected to be approximately 2.1 million US dollars, which will be fully paid in the form of 10,500,000 restricted ordinary shares of the Company based on $0.20 per share. The Company expects to complete the acquisition in the first quarter of 2023, subject to customary closing conditions. With this acquisition, Guardforce AI will have access to the entire China market through the sales channels and agents built by Kewei since 2019, and will serve clients across various industries, such as restaurants, hotels, and office buildings, including Fortune 500 customers. The revenue streams will include robotic rental, advertising, and technical services across most of the major metropolitan cities in China. Olivia Wang, Chairwoman and Chief Executive Officer of Guardforce AI, commented, "This acquisition is expected to be truly transformative, as it not only strengthens our foothold in major cities and regions across China, but also provides us new capabilities and a diverse customer base across a wide range of industries. Kewei has a strong track record of growth, and with the addition of the client base, sales channels and salesforce we are acquiring, we anticipate revenue growth in the robotic sector for the foreseeable future. We also look forward to leveraging these newly acquired capabilities across our global platform and expect to benefit from meaningful economies of scale. Importantly, completing the acquisition entirely with stock illustrates the support from Kewei shareholders and the team's confidence and belief in our RaaS business. We look forward to the journey ahead."
Guardforce launches 'AIoT' robot advertising model » 07:1011/2211/22/22
Guardforce AI announced…
Guardforce AI announced the formal launch of its Artificial Intelligence of Things Robot Advertising model and its mobile application, GFAI AD, on the Apple App Store in Asia. The AIoT RA model enables advertisers to publish advertisements on Guardforce AI's robots and make more informed marketing decisions with data feedback from the Guardforce AI Intelligent Cloud Platform. As a part of the AIoT RA rollout, the initial launch of the mobile app is commencing with robots in Macau, with additional markets to follow. Guardforce AI has managed approximately 6,000 robots deployed globally. Most robots are placed at the entrances of hotels, restaurants, supermarkets, offices and residential buildings, which are high-volume traffic points. While providing concierge, order and queue systems, and disinfection services, the robot screens could be used for advertisers to achieve more customized, cost-efficient and precise marketing strategies that better reach their target audiences. Advertisers can choose different scenarios, hours, repetitions and locations where they predict their target audiences will most frequently visit, and fine-tune their campaign through real-time data feedback, by monitoring key metrics such as exposure and customer engagement.
|Over a quarter ago|
What You Missed On Wall Street On Friday » 16:2909/3009/30/22
NKE, MU, RCII, PHG, BCS, VOYA, CRL, CENX, CYBR, TWTR, EADSY, BA, SAVE, JBLU, AAL, TSLA, JOBY, IONQ, PLTR, CFLT, ICPT, PTON, LULU, CCL, CMTL, CIR, UXIN, GFAI
Get caught up quickly on…
What You Missed On Wall Street This Morning » 12:0309/3009/30/22
NKE, MU, CCL, RCII, PHG, CRL, VOYA, CENX, CYBR, CMTL, CIR, UXIN, GFAI, LEVI, TWTR, TSLA, BA, EADSY, SAVE, JBLU, AAL, JPM, IONQ, PLTR, ICPT, CFLT
Get caught up quickly on…
Guardforce reports 1H EPS (18c) vs. (9c) last year » 09:1809/3009/30/22
Reports 1H revenue $16.9M…
Reports 1H revenue $16.9M vs. $18.4M last year. Olivia Wang, Chairwoman and CEO of Guardforce AI, stated, "In the first half of 2022 we made significant progress transforming Guardforce AI into an integrated AI and robotics business, complementing our well-established secured logistics business. Due to the impact of COVID-19 and the shutdown of certain customers' facilities in the secured logistics business segment, we experienced a slight decrease in revenue less than 10%. However, even though the robotic AI segment revenue counts for approximately 4% of the total revenue, it has grown by 253% and increased nearly four-fold as a percentage of our total revenue compared to the six months ended June 30, 2021...Overall, we are highly encouraged by the outlook for the business and expect to resume strong organic revenue growth company-wide as pandemic-related restrictions begin to ease. We believe the recent realignment of our management team is timely, given the success and increased focus on our RaaS business line, which positions us to become a dominant player in this rapidly emerging market. Moreover, we have built a highly scalable business model that we believe will drive significant value for shareholders as we continue to execute on our business model."
Guardforce, Riversoft partner to co-develop, launch robotic travel concierge » 07:1109/2309/23/22
Guardforce announced that…
Guardforce announced that it has entered into a partnership agreement with Riversoft, a Peakwork Company who is specialized in travel management software, to co-develop and co-launch contactless travel services with its existing GFAI's Concierge robots. Guardforce AI and Riversoft plan to co-develop these contactless travel services in a new robotic solution to be known as Robot Travel Agency, RTA. Olivia Wang, Chairwoman and Chief Executive Officer of Guardforce AI, stated, "We are excited about our partnership with Riversoft and our joint plans to launch the RTA. According to the Global Business Travel Association's latest Business Travel Index, global business travel activity will continue to recover in 2023 and is headed towards a full recovery to 2019 pre-pandemic spending levels of USD $1.4 trillion. Our strategic objective of the RTA is to launch in the hospitality industry to help travelers find exclusive local promotions for restaurants, events, and stores. The hotel industry is one of our important and major markets for our robotic solutions and we are working with Riversoft to further expands our services, enabling us to provide more efficient, and convenient experiences to our customers and clients."
Guardforce awarded five-year contract by Bank of Thailand » 07:1409/1909/19/22
Guardforce AI announced…
Guardforce AI announced that Guardforce Cash Solutions Security was awarded a 5-year contract by the Bank of Thailand to manage its Consolidated Cash Centers in the city of Ubonratchathani and the city Phitsanulok in Thailand. The contract represents an expansion of its current services provided to the Bank of Thailand. The Ubonratchathani CCC's service covers 6 provinces and Phisanulok covers 13 provinces. In connection with the contract, GFCS will manage approximately 500 ATM locations in Ubonratchathani and approximately 600 ATM locations in Pitsanulok. Currently, the Bank of Thailand has ten CCCs across the country, and GFCS will now operate four of its CCC centers across the country, covering 31 of Thailand's 76 provinces. The contract for the Ubonratchathani CCC is expected to begin in November 2022 and the contract for the Pitsanulok CCC is expected to begin in December 2022.
Guardforce announces LOI to acquire Shenzhen Kewei Robot Technology » 07:0709/1309/13/22
Guardforce AI announced…
Guardforce AI announced it has signed a non-binding letter of intent, LOI, with Shenzhen Intelligent Guardforce Robot to acquire Shenzhen Kewei Robot Technology Company Limited, a high-tech robotics company specializing in developing robotics software solutions and robotics management platforms, as well as robotics sales and technical services. This agreement supersedes and replaces the previously announced LOI with Kewei to acquire 12 of its subsidiary companies, and the terminated securities purchase agreement pursuant to which the Company had intended to acquire 7 of its subsidiary companies. The purchase price and consummation of the acquisition of Kewei are subject to the satisfactory completion of the Company's due diligence and an independent audit, as well as a third-party valuation and fairness opinion. The Company plans to pay for this acquisition through a combination of cash and restricted common stock of the Company at a value of no less than $1 per share. Guardforce AI expects to enter into a definitive purchase agreement with Kewei relating to this acquisition within the next few months. Olivia Wang, Chairwoman and Chief Executive Officer of Guardforce AI, added, "After conducting further due diligence, it became clear that acquiring Kewei itself, compared to acquiring only the Kewei sales channel subsidiaries, would add both a premier roster of business clients, as well as advanced technologies that we believe will help to accelerate our strategic expansion within the robotics industry worldwide. Overall, we remain focused on our goal to transform Guardforce AI into a leading integrated security company in AI and robotics."
Guardforce announces new executive leadership team » 07:3508/3108/31/22
Guardforce AI announced a…
Guardforce AI announced a series of appointments to form a new management team to support the Company's accelerated growth in the robotics and information security markets. Lei Wang, who serves as Chief Executive Officer of Guardforce AI, has been appointed Chairman of the Board, and will continue to serve as Chief Executive Officer. Lin Jia has been appointed President. Yu-Heng Ma has been appointed Chief Financial Officer and Mingchang Liu has been appointed Chief Technology Officer. The Company also announced that, effective August 31, 2022, Wing Khai Yap resigned from his position as Chairman of the Board to pursue other interests. Also effective August 31, 2022, Chung Chi Ng resigned from her position as the Company's Chief Financial Officer to pursue other interests. Prior to his appointment as President, Lin Jia served as Guardforce AI's Head of Research & Development since May 2022. Yu-Heng Ma brings more than 20 years of experience in finance and accounting, including with several publicly listed companies. He previously served as Chief Financial Officer at China Grand Star Luxury Cars Investment Holdings Limited. Mingchang Liu has served as Manager of the Technical Development Department at Shenzhen GFAI Robot Technology, a wholly-owned and recently acquired subsidiary of Guardforce AI since March 2022.