MACAO – The Board of Directors of Deswell Industries, Inc. (Nasdaq: DSWL) is saddened to announce that Mr. Richard Pui Hon Lau, the Company’s chairman, passed away on June 12, 2023.

The Board of Directors issued the following statement: "The Company’s directors, Chief Executive Officer, Chief Financial Officer and employees are immensely saddened by the passing of Mr. Lau. Mr. Lau served the Company and its predecessors since its inception in 1987. During his 36 years at Deswell, Mr. Lau led the Company to transform and grow from a small plastic plant to a Nasdaq listed company, producing a wide variety of plastic parts and components, electronic products and subassemblies and metallic molds. The contribution made by Mr. Lau to the Company is immeasurable. We will miss him greatly. We extend our sympathies to his family.”

The Board of Directors also announced the appointment of Mr. Chin Pang Li as the Chairman of the Board of Directors. Mr. Li has served the Company as a Member of the Board of Directors and in various executive capacities with the Company and its predecessors since its inception in 1987. He became Secretary of the Company in February 1995 and Chief Financial Officer in May 1995, a position which he held until March 31, 2006. Mr. Li received his Bachelor of Science degree from Chun Yan Institute College, Taiwan in 1967.

Additionally, the Board of Directors announces the appointment of Mr. Ben Yiu Sing Poon as interim Director, until the Company's 2023 Annual General Meeting, or other shareholders’ meeting called before such date, when his appointment shall be submitted for shareholder approval.

Mr. Poon has been working in one of the company’s major subsidiaries since 2002. He received his bachelor’s degree in mechanical engineering design from Northeastern University in Massachusetts in 2002. He has been working in the plastic injection manufacturing industrial field for 21 years and was appointed as a General Manager of a major subsidiary since 2022. Mr. Poon is the nephew of Mr. Lau.

Mr. Lau and the Board had taken care over the years to ensure that the Company and its subsidiaries would be prepared to continue in his absence. There will be no changes in the operation of the Company, and at this time the Lau family has no plans to dispose of the shares under their ownership.

BESIGHEIM, GERMANY – Weller Tools, a leader in hand soldering solutions and part of the Apex Tool Group, is pleased to announce that it has expanded its new Weller Web Communication Platform, a dynamic customer communication portal that connects with users worldwide. The platform is now live in the EMEA (Europe, Middle East, and Africa) and rest of world regions. Building on the success of the platform’s availability in the US and LATAM regions since October 2022, Weller Tools is expanding its reach to cater to a global audience.

The new Weller Web Communication Platform is designed to enhance the user experience and strengthen communication with customers. With language options including English, German, French, Italian, and Chinese, in addition to the existing English and Spanish options, Weller Tools ensures that customers worldwide can access relevant information in their preferred language.

Extensive research and analysis were conducted during the discovery phase to create a targeted and engaging user experience. Customer journey and user experience research, along with an optimized search functionality, were integral parts of this phase. The insights gained allowed Weller Tools to tailor the platform to meet customers' specific needs and preferences.

“Our goal with the new Weller Communication Platform is to increase brand awareness, improve customer satisfaction, and deliver exceptional service,” said Sonja Gabler, Sr. Manager, Marketing Communications Brand & Digital of Weller Tools and responsible for the global Weller websites. “By leveraging the power of the platform, we aim to provide a seamless and engaging experience for our customers worldwide.”

The Weller Communication Platform retains the e-commerce functionality with Nexmart, enabling customers to seamlessly navigate from product pages to distributors' e-shops for convenient purchasing options.

With the launch of the new Weller Web Communication Platform, Weller Tools is poised to elevate its brand awareness and enhance customer satisfaction. The platform serves as a gateway for customers to explore the world of Weller and stay connected with the latest soldering solutions and innovations.

For more information, please visit weller-tools.com.

WINDSOR, UK – RED Semiconductor (“RED”), a fabless semiconductor company, has added David Harold to the management team as Head of Business Development. Harold has over 25 years of semiconductor industry experience and was most recently Chief Marketing Officer at Imagination Technologies. He will be responsible for commercial strategy for the launch of RED’s innovative vector processor chip and will report to CEO James Lewis.

RED has created the Vector+1 ISA which makes the key algorithms required for AI, IoT and autonomy significantly more power-efficient and secure. The instruction-light ISA is the basis for a ground up low-power microprocessor design that RED will bring to market, initially for Edge A/IoT. This chip will cut the processing overhead for complex compute routines by an order of magnitude enabling the migration of more compute-capability to the Edge.

Quotes

Says David Harold: “This is an important time for the UK semiconductor industry, with a new government strategy launched to ‘double down on design, research and advanced chip leadership – securing the UK’s position as a global science and technology superpower’. The world is watching what the UK will do next. RED Semiconductor has innovated a game changing solution that will impact on a global scale, closing the gap between next-gen application demands and silicon capability. I’m thrilled I’m going to get to take these chips to market.”

Says James Lewis, CEO, RED Semiconductor: “We are delighted to have David’s experience on the team at RED Semiconductor. He has a proven track record of successfully promoting complex concepts and value propositions to extremely demanding customers and has a deep understanding of the dynamics of partnerships with some of the world's largest technology companies. With the team we are putting together, and the technology we have created, RED is ready for great things.”

Says David Calderwood, Chairman, RED Semiconductor: “I’ve spent my career building outstanding teams for Arm, AMD, CSR, and others, and RED Semiconductor today has extraordinary talent at its heart. We have technical genius, visionary leadership, world-class delivery, and accomplished advisors. And there is more to come.”

SHANGHAI – USI (SSE: 601231), a leading global electronics manufacturing services provider, is expanding its expertise and capabilities in the EV industry. With the growing demand for electric vehicles worldwide, USI is committed to integrating the production of powertrain systems, a critical component in the electric vehicle industry.

International Energy Agency (IEA) released a report in April 2023 indicating that global electric vehicle sales are projected to grow by 35% compared to the previous year, reaching nearly 14 million vehicles. This rapid growth reflects the continuous expansion and innovation within the electric vehicle industry, with estimates from Goldman Sachs Research this February suggesting that electric vehicles could capture about 50% of global car sales by 2035.

The powertrain system, including components such as batteries, motors, inverters, and controllers, plays a pivotal role in the electric vehicle industry. It is responsible for converting electrical energy into mechanical energy and delivering it to the wheels. The powertrain system's design and manufacturing capabilities directly impact electric vehicles' performance, efficiency, reliability, and competitiveness.

Steven Su, GM of APE & Wireless & Wearable Miniaturization Solutions Business Group, said "USI is committed to integrating the manufacturing of electric vehicle powertrain systems. Currently, the company produces IGBT and silicon carbide (SiC) power modules primarily used in electric vehicles' power inverters and onboard chargers. These modules are crucial components for achieving efficient energy conversion and charging capabilities. In the future, there are plans to expand the application of these power modules to other components, such as inverters for electric compressors and DC-DC converters. Furthermore, USI's powertrain solutions encompass power inverters, batteries and thermal management systems. These components ensure optimized energy flow management and effective heat dissipation, enhancing overall vehicle performance and safety. By integrating upstream and downstream capabilities, USI provides customers with comprehensive one-stop service experiences, simplifying procurement and supply chain management, accelerating time-to-market, and boosting competitiveness."

USI has successfully verified and developed various manufacturing processes, including die and wire bonding for Power Modules in electric vehicles, as well as sintering, Cu clip packaging, welding, molding, and other customized processes required to meet specific manufacturing needs. USI has gained significant production experience in most of these processes. Moreover, for powertrain system assembly products, USI provides tailored design solutions for automated production based on customer product characteristics. Key processes include SMT component placement, wave soldering, conformal coating, ultrasonic welding, and the expansion into automated assembly lines. This enhances manufacturing design capabilities (DFM) and fosters close collaboration with customers through joint development initiatives (JDM) to improve the cost competitiveness of their products.

With the continuous growth in demand for electric vehicles, USI provides strong support to the automotive industry with its powerful electronic manufacturing capabilities. By combining expertise in powertrain systems, advanced manufacturing technologies, and a commitment to automotive safety standards, USI has gained recognition and orders from automotive original equipment manufacturers and Tier 1 suppliers in Europe, the United States, and Japan. The application models include sedans, pickups, SUVs, and commercial trucks/buses.

Among USI's 28 factories in the globe, 13 of them have obtained the IATF 16949 certification for automotive standards. Among these, the Zhangjiang, Kunshan, and Mexico factories have also achieved ISO 26262 certifications for manufacturing sections of Chapter 2 and Chapter 7, meeting the stringent automotive functional safety standards required by original equipment manufacturers (OEMs). Furthermore, Zhangjiang facility has obtained TISAX Level 3 certification in 2023, demonstrating compliance with automotive safety standards set by OEM customers.