Core Viewpoint - SMX has developed a technology that embeds a molecular identity into precious metals, addressing the authentication challenges that have historically limited gold's integration into modern financial systems [2][4][11] Group 1: Company Overview - SMX is presenting its innovative model at the 2025 DMCC Precious Metals Conference, which aims to revolutionize the global precious metals market by providing a reliable method for verifying the identity of gold [2][11] - The company’s technology allows for a seamless transition from physical to digital ownership of gold, enhancing transparency and trust in the asset [4][9] Group 2: Industry Context - The DMCC has established Dubai as a central hub for global commodities, emphasizing the need for clarity and integrity in transactions, moving away from traditional paper-based systems [3][8] - The gold market is evolving, with increasing demand for assets that maintain their identity throughout various transformations, such as melting and recasting [6][7] Group 3: Technological Impact - SMX's embedded identity system ensures that each piece of gold retains its unique signature throughout its lifecycle, significantly reducing the risk of confusion or manipulation [6][7] - This technology enhances the efficiency of custody and audit processes, allowing institutions to verify the identity of gold at any time, thus fostering greater accountability in the market [7][10] Group 4: Market Transformation - The introduction of verified identity in gold ownership is expected to create new investment products that prioritize clarity and stability, moving away from speculative frameworks [9][10] - SMX's approach aligns with the growing expectations from regulators and global buyers for responsible sourcing and sustainability in the gold supply chain [8][12]

Core Insights - Ecolomondo Corporation has achieved a significant milestone by performing four TDP batches in one day at its Hawkesbury facility, marking a first for the company [1][2] - The ramp-up of the Hawkesbury TDP facility is progressing well, with an increase in the number of batches processed, indicating a move towards full operational capacity [3][4] - The company continues to operate at a loss due to the ramp-up phase, despite the strong performance and increasing revenue streams from the sale of end-products [6] Production and Technology - The Hawkesbury TDP facility has successfully processed 30 batches in October 2025, compared to 17, 33, and 29 batches in the previous three quarters [3] - The TDP reactors are capable of processing two batches of 15,000 lbs of crumb rubber each day, which is crucial for achieving full ramp-up [4] - The facility utilizes new HMI automation technology to produce high-quality end-products, including recovered carbon black, tire-derived oil, and syngas [4] Financial Outlook - Revenue streams from the Hawkesbury TDP facility include sales of recovered carbon black, oil, steel, syngas, and tipping fees for scrap tire disposal [6][10] - The company aims for full ramp-up by July 2026, with growing demand for recovered carbon black and other resources expected to drive future revenue [10][9] Strategic Initiatives - Ecolomondo is focused on expanding its operations and management team to strengthen its capabilities [10] - The company is pursuing strategic initiatives, including a joint venture with Aresol Renewables, to enhance growth and operational efficiency [9] Environmental Impact - The TDP process significantly reduces greenhouse gas emissions, with a projected reduction of 15,000 tons of CO2 per year at the Hawkesbury facility [14]

Core Insights - CARBIOS has signed two new multi-year commercial agreements with major players in the beverage industry for the supply of recycled PET (r-PET) [1][7] - These agreements validate CARBIOS's technology and support its strategy of sector diversification [2][7] Company Overview - CARBIOS is a biotechnology company focused on developing biological solutions to reinvent the lifecycle of plastics and textiles, aiming to prevent pollution and promote a circular economy [3] - The company has two main technologies: one for PET biorecycling and another for PLA biodegradation, both of which are scaling up to industrial levels [3] - CARBIOS's industrial demonstration plant for biorecycling has been operational since 2021, with plans to resume construction of the world's first biorecycling plant by the end of 2025, pending additional funding [3] Strategic Developments - The new commercial agreements are part of the pre-commercialization process for CARBIOS's future industrial site, achieving approximately 50% of the site's maximum production capacity in pre-sales [7] - Ongoing negotiations aim to reach a pre-commercialization level of 70%, which is crucial for securing additional non-dilutive funding necessary for the Longlaville plant's construction [7] - A regional grant of €12.5 million has been secured, increasing the total public funding to €42.5 million [7]

Core Insights - The 22nd Annual Leasing Life Awards celebrated organizations driving innovation, sustainability, digital transformation, and customer impact in the leasing industry [1][2] Awards Summary - **Best Sustainability Initiative of the Year**: BPCE Equipment Solutions was recognized for integrating sustainability into its core business, financing over €3 billion in green assets, achieving EcoVadis certification, and training over 80% of employees in ESG principles [3] - **Circular Economy Model of the Year**: BNP Paribas 3 Step IT won for its renewable-energy-powered refurbishment center, which processes hundreds of thousands of devices annually, significantly impacting waste reduction and resource efficiency [4] - **Digital Innovation of the Year (Asset Finance)**: TotalSoft received the award for its next-generation digital leasing platform that features automation, AI readiness, and paperless operations, enhancing the customer journey and empowering stakeholders [5] - **Digital Innovation of the Year (ESG)**: PEAC Solutions was honored for its digital mobility platform that promotes greener commuting through instant onboarding and automated processes, merging ESG goals with customer-centric design [6]

Core Insights - Cobalt Blue Holdings Ltd is repositioning its Broken Hill Technology Centre to process black mass from recycled batteries, following a $15 million investment in a cobalt refining demonstration plant since 2021 [1][6][7] - Black mass contains critical minerals essential for battery manufacturing, aligning with Australia's circular economy goals [2][10] Company Strategy - The company is currently the only refiner in Australia capable of processing black mass, which will support the growth of domestic recycling capabilities [3][10] - Black mass will serve as a supplementary feedstock for the proposed cobalt refinery, helping to bridge the gap until local mining projects commence [3][11] - The strategy aims to diversify sources of feedstock while contributing to the development of Australia's circular economy [4][12] Industry Context - The initiative is expected to encourage other refiners to establish a more robust local battery recycling infrastructure [4] - The Broken Hill Technology Centre is anticipated to attract investor interest as the company moves towards a financial investment decision for the refinery [4][13]

Company Overview - Liquidity Services is a leading global provider of e-commerce marketplaces and software solutions powering the Circular Economy[8] - The company has completed over $15 billion in transactions with over 6 million registered buyers[15] - The company serves over 15,000 trusted clients worldwide[15] Financial Performance - The company's annual Gross Merchandise Volume (GMV) has increased from $1145 million in FY22 to $1571 million in FY25[63] - The company's annual revenue has increased from $315 million in FY23 to $477 million in FY25[67] - The company's annual Non-GAAP Adjusted EBITDA has increased from $459 million in FY23 to $608 million in FY25[69] Segment Performance - GovDeals segment GMV reached $2523 million in Q3FY25[41] - RSCG segment GMV reached $1098 million in Q1FY25[47] - Machinio & Software Solutions revenue reached $54 million in Q4FY25[56] Marketplace Growth - AllSurplus marketplace experienced over 30% YoY GMV Growth in the heavy equipment category in Q4-FY25[38] - Liquidationcom marketplace experienced 30% Annual GMV growth in FY25[38] - The company surpassed $15 billion in cumulative GMV[39]

Lassila & Tikanoja plc Stock exchange release20 November 2025 at 4:30 p.m The Finnish Financial Supervisory Authority has approved Lassila & Tikanoja’s demerger and listing prospectus; The New Lassila & Tikanoja’s and Luotea’s Management Teams as of the completion of the demerger Lassila & Tikanoja plc (the “Demerging Company”) announced on 7 August 2025 the approval of a demerger plan concerning the partial demerger of the Demerging Company (the “Demerger Plan”), according to which all assets, debts and li ...

Financial Data and Key Metrics Changes - Total net revenue reached a record high of RMB 5.15 billion, representing a 27.1% year-over-year growth [5][25] - 1P product revenue increased by 28.7% year-over-year to RMB 4.73 billion, while 3P platform service revenue rose 11.6% year-over-year to RMB 420 million [5][27] - Non-GAAP operating profits reached RMB 140 million, up 34.9% year-over-year, with a non-GAAP operating profit margin of 2.7% [5][35] Business Line Data and Key Metrics Changes - Combined refurbished product revenue surged 102% year-over-year, with 1P2C revenue growing over 70% year-over-year [7] - The number of contracted merchants on the PJC Marketplace surpassed 1.37 million, driven by rapid growth in product supply and small-sized merchants [11] - GMV for consignment in the PaiPai marketplace grew 180% year-over-year, with the take rate trending upward in the high single-digit range [14] Market Data and Key Metrics Changes - AHS Recycle achieved a trade-in penetration rate exceeding 10% on JD.com, with significant potential for further growth as retail prices of new devices increase [44] - The overall take rate of the marketplace was 4.89% for the third quarter of 2025 [28] Company Strategy and Development Direction - The company aims to strengthen core capabilities in second-hand consumer electronics, enhance fulfillment capabilities, and advance technology through automation and AI [18][19] - AHS Recycle is positioned as China's leading recycling brand, focusing on user engagement and frequency of service usage [20] - The company is preparing for an international strategy to share China's recycling story globally, with a focus on export standards and international mutual recognition [21][22] Management's Comments on Operating Environment and Future Outlook - Management expects total revenue growth in Q4 2025 to be between 25.4% and 27.4%, driven by attractive new products and strong consumer demand [45] - For 2026, the company anticipates maintaining a relatively rapid year-over-year growth rate, supported by increased trade-in program penetration and enhanced brand power [48] Other Important Information - The company repurchased approximately 0.5 million ADSs for about $2.1 million during the third quarter [36] - As of September 30, 2025, cash and cash equivalents totaled RMB 2.54 billion, sufficient to support reinvestment and shareholder returns [37] Q&A Session Summary Question: Impact of national subsidy policies on business - Management noted that national trade-in subsidies primarily promote sales of new devices priced under RMB 6,000, with limited impact on premium models [42] - The company has collaborated with JD.com and major brands to enhance trade-in experiences, benefiting from the subsidies [43] Question: Outlook for Q4 and next year - Management expects total revenue growth in Q4 to be between 25.4% and 27.4%, driven by strong consumer demand for new devices [45][46] - For 2026, the company anticipates continued growth driven by trade-in program penetration and improved supply chain efficiency [48] Question: Store opening pace for Q4 and next year - The company aims to accelerate store openings while ensuring quality development and superior user experience [52] Question: Plans for multi-category business - The multi-category business has maintained rapid growth, focusing on high-value categories and user experience [54] Question: Uptake of enhanced services across marketplace businesses - The take rate for PJC marketplace remains stable at over 6%, with ongoing adjustments to merchant service policies [57] - The consignment model in PaiPai has shown success, driving its take rate into the high single-digit range [58]

Financial Data and Key Metrics Changes - Total net revenue reached a record high of RMB 5.15 billion, representing a 27.1% year-over-year growth [5][29] - 1P product revenue increased by 28.7% year-over-year to RMB 4.73 billion, while 3P platform service revenue rose 11.6% year-over-year to RMB 420 million [5][31] - Non-GAAP operating profits reached RMB 140 million, up 34.9% year-over-year, with a non-GAAP operating profit margin of 2.7% [5][38] Business Line Data and Key Metrics Changes - Combined refurbished product revenue surged 102% year-over-year, with 1P2C revenue growing over 70% year-over-year [6] - The overall take rate of the marketplace was 4.89% for the third quarter [10] - Multi-category recycling businesses contributed nearly RMB 53 million of revenue, accounting for 12.5% of service revenue [31] Market Data and Key Metrics Changes - AHS Recycle achieved a trade-in penetration rate exceeding 10% on JD.com, indicating a growing trend in trade-in programs [46] - The number of contracted merchants on the PJC Marketplace surpassed 1.37 million, driven by rapid onboarding of small-sized merchants [11] Company Strategy and Development Direction - The company aims to strengthen core capabilities in second-hand consumer electronics and enhance trade-in collaboration with partners like JD.com and Apple [18] - AHS Recycle is positioned as China's leading recycling brand, focusing on user engagement and frequency of service usage [20] - The company is preparing for an international strategy to share China's recycling story globally, with a focus on export standards and international mutual recognition [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the healthy development of the second-hand industry and strong growth trajectory for the company [25] - For Q4 2025, total revenue growth is expected to be between 25.4% and 27.4%, driven by attractive new product launches [47] - For 2026, the company anticipates maintaining a relatively rapid year-over-year growth rate, supported by increased trade-in program penetration and enhanced brand power [50] Other Important Information - ATRenew was recognized as a finalist for the Earthshot Prize, highlighting its contributions to the circular economy [26] - As of September 30, 2025, cash and cash equivalents totaled RMB 2.54 billion, sufficient to support reinvestment and shareholder returns [40] Q&A Session Summary Question: Impact of national subsidy policies on business - Management noted that national trade-in subsidies primarily promote sales of new devices priced under RMB 6,000, with limited impact on premium models [44][45] Question: Outlook for Q4 and next year - Total revenue growth for Q4 is expected between 25.4% and 27.4%, with a full-year estimate of RMB 20.87 billion to RMB 20.97 billion, indicating potential for faster growth than initially budgeted [47][48] Question: Store opening pace for Q4 and next year - The company aims to accelerate store openings, with nearly 88% of self-operated stores equipped with multi-category services [53][54] Question: Plans for multi-category business - The multi-category business is rapidly developing, focusing on high-value categories and improving user transaction experience [56][58] Question: Uptake of enhanced services across marketplace businesses - The take rate for PJC marketplace remains stable at over 6%, with the consignment model in PaiPai showing initial success and a take rate in the high single-digit range [61][62]

Core Insights - ATRenew Inc. reported a record total revenue of RMB5,149 million (US$723.3 million) for Q3 2025, marking a 27.1% year-on-year increase [3][5][6] - The company achieved improved profitability with adjusted income from operations rising by 34.9% year-on-year to RMB140 million (US$19.7 million) [3][9] - The number of consumer products transacted increased to 10.9 million, up from 9.1 million in the same period of 2024 [6][10] Financial Performance - Total net revenues increased by 27.1% to RMB5,149.2 million (US$723.3 million) from RMB4,051.2 million in Q3 2024 [5][6] - Net product revenues rose by 28.7% to RMB4,726.3 million (US$663.9 million) due to higher sales of pre-owned consumer electronics [5][6] - Net service revenues grew by 11.6% to RMB422.8 million (US$59.4 million), driven by the multi-category recycling business [7] Profitability Metrics - Income from operations was RMB120.8 million (US$17.0 million), a significant increase of 385.1% from RMB24.9 million in Q3 2024 [6][9] - Net income reached RMB90.8 million (US$12.8 million), up 407.3% from RMB17.9 million in the same period last year [10][11] - Adjusted net income (non-GAAP) was RMB110.2 million (US$15.5 million), reflecting a 22.3% increase year-on-year [10] Operating Costs - Operating costs and expenses rose to RMB5,033.2 million (US$707.0 million), an increase of 25.0% compared to RMB4,028.1 million in Q3 2024 [8] - Merchandise costs increased by 26.3% to RMB4,094.2 million (US$575.1 million) due to growth in product sales [12] - Fulfillment expenses were RMB437.1 million (US$61.4 million), up 25.9% as a result of increased personnel and logistics costs [12] Business Outlook - For Q4 2025, ATRenew expects total revenues to be between RMB6,080 million and RMB6,180 million, indicating a year-on-year increase of 25.4% to 27.4% [14] - The company is focusing on enhancing its fulfillment capabilities and exploring multi-category recycling services to capitalize on the circular economy [3][14] Recent Developments - ATRenew announced a new share repurchase program, allowing for the repurchase of up to US$50 million of its shares over a 12-month period [15]