(MENAFN- GlobeNewsWire - Nasdaq) BETHESDA, MD, Dec. 20, 2024 (GLOBE NEWSWIRE) -- HWH International Inc. (“HWH”) (Nasdaq: HWH) and its partner Sharing Services Global Corporation (“SHRG”) (OTC: SHRG) are taking further steps in their collaboration in the robotics field. Among these, HWH is proud to highlight its U.S. based partner SHRG's membership in the Association for Advancing automation (A3) and attendance at the A3 Business Forum in Orlando Florida in January 2025.
A3 is North America's largest automation trade association representing more than 1300 organizations involved in robotics, artificial intelligence, machine vision & imaging, motion control & motors and related automation technologies. A3 advocacy principles represent key drivers for the support and expansion of the robotics and automation industries. While their focus is on the United States, these principles also benefit allied countries in other regions and welcome their broader adoption by government officials elsewhere. See a list of their members which include major public companies listed on several exchange markets.
As HWH's U.S. partner, SHRG commences its launch in the first quarter of 2025 to distribute robotics throughout the U.S. in several different sectors, membership in this organization is important for access to the top speakers, contacts and experts in the industry. HWH and SHRG share an optimism that the integration of robots into diverse areas of everyday life will offer growth opportunities to businesses that engage with the industry to find new collaborations.
In an update posted on November 22, 2024, A3 Market Intelligence announced that robot sales in North America were up 8.8% in the third quarter of 2024 compared to the same period last year. According to the Association for Advancing Automation, companies purchased 7,329 robots from July through September, valued at $475 million. Unit volume growth was higher than revenue, with a 14.1% increase in units ordered.
Non-automotive industries drove demand, accounting for 56% of orders (4,113 units), while automotive customers contributed 44% (3,216 units). The automotive-specific segment showed mixed results, as Automotive Component orders surged 61%, while Automotive OEM orders contracted by 15%.
A3 Market Intelligence's November 22, 2024 update went to note that labor shortages and the growing demand for efficiency are driving businesses to embrace automation as a critical strategy for staying competitive on the global stage, and to express optimism about the opportunities 2025 will bring for the industry.
HWH's Robot-as-a-Service (RaaS) Model
SHRG has the infrastructure in place to start immediately marketing the products starting in the 1st quarter of 2025,” said Mr. Heng Fai Chan, Chairman of HWH International Inc.“With the growing demand for automation and service efficiency, our RaaS model enables businesses to access state-of-the-art robots without the heavy upfront investment.”
HWH RaaS Key Features:
HWH's RaaS offering includes a diverse range of service robots tailored to meet industry-specific needs industries:
Flexibility : Scalable robotic services based on demand, ensuring cost-effectiveness. Comprehensive Support : Ongoing maintenance and software updates allow clients to focus on core operations. Customization : Robots can be tailored to address the unique requirements of different industries and businesses.
About HWH International Inc.
HWH International Inc. is a purpose-driven lifestyle company encompassing differentiated offerings from four core pillars: Hapi Marketplace, Hapi Cafe, Hapi Travel and Hapi Wealth Builder. HWH develops new pathways to help people in their pursuit of Health, Wealth and Happiness.
For more information, visit:
About Sharing Services Global Corporation
Sharing Services Global Corporation (OTC: SHRG), formerly Sharing Services Inc., is a publicly traded company dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products and technologies in the direct selling sector and other industries. The Sharing Services combined platform currently leverages the capabilities and expertise of various companies that market and sell products direct to the consumer through independent contractors and vendors.
Forward Looking Statements
This press release contains, and certain oral statements made by representatives of HWH and its affiliates, from time to time may contain,“forward-looking statements” within the meaning of the“safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. HWH's actual results may differ from expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as“expect,”“estimate,”“project,”“budget,”“forecast,”“anticipate,”“intend,”“plan,”“may,”“will,”“could,”“should,”“believes,”“predicts,”“potential,”“might” and“continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding HWH's continued growth and expansion and its ability to deliver value to customers and investors, along with those other risks described under the heading“Risk Factors” in the registration statement on Form S-1, filed by HWH with the Securities and Exchange Commission (the“SEC”) on December 3, 2024, and those that are included in any of HWH's future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of HWH and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. HWH undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.
No Offer or Solicitation
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.
For investor and media inquiries, please contact:
HWH International Inc.
4800 Montgomery Lane, Suite 210
Bethesda, MD 20814
301-971-3955
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