WAIC 2025: Shanghai Electric Debuts First Industrial Humanoid Robot "SUYUAN," Advancing Next-Gen Intelligent Manufacturing through Holistic Value Chain Layout
With 38 degrees of freedom (DoF) and 275 TOPS of on-device computation power, SUYUAN delivers precise operations and dynamic movements, making it adaptable to a wide range of industrial application scenarios. This launch represents a significant milestone in Shanghai Electric's humanoid robotics journey, further strengthening its comprehensive value chain for industrial humanoid solutions.
Designed with human-like proportions—standing 167 cm tall and weighing 50 kg—SUYUAN is engineered to navigate complex industrial environments with ease. Its 38-DoF articulation provides exceptional dexterity, enabling both delicate manipulations and expansive motions. Capable of handling up to 10 kg of total cargo and lifting 2 kg objects with a single arm, SUYUAN is perfectly suited for logistics and assembly line tasks, operating efficiently at a movement speed of 5 km/h.
SUYUAN leverages a fusion of LiDAR and binocular vision technologies to achieve self-guided mobility. Its 275-TOPS on-device AI processor powers instant data analysis and LLM integration, allowing natural task interpretation and adaptive object handling.
In pilot tests, SUYUAN autonomously identified, positioned, picked, and relocated mixed-size crates, using advanced computer vision and synchronized joint control, significantly boosting warehouse productivity.
Supercharging the Industrial Revolution: Intelligent Manufacturing Powered by Humanoid Precision
The high-end equipment manufacturing advancements driven by innovation hinge on real-world applications. At WAIC 2025, Shanghai Electric's "LINGKE" dual-arm robot also wowed the audiences at a skills showcase, tackling complex manufacturing challenges with its high-precision operation, adaptive collaboration, and closed-loop data capabilities.
LINGKE is more than a human labor replacement. It uses bimanual coordination and compliant force control to free workers from repetitive, high-intensity tasks, improving efficiency fivefold. The core competency lies in its Data-Model-Deployment closed-loop technology. With operational data as the starting point, LINGKE creates self-optimizing workflow through data cleansing and annotation, model training, live deployment, and feedback-based optimization, achieving the transition from "passive executors" to "active learners."
Pioneering Smarter Automation
At WAIC 2025, a joint venture between Shanghai Electric and Johnson Electric debuted with a showcase of revolutionary humanoid robots, key hardware modules, and system integration solutions. The venture introduced rotary joints, linear joints, and dexterous finger joints for next-gen robots, delivering precise, smooth, quiet, and intelligent motion performance.
The joint venture further strengthened its efforts to expand product applications by securing two major partnerships: a first-unit supply agreement with the National and Local Co-Built Humanoid Robotics Innovation Center (Qinglong Project) and a product cooperation memorandum with Fourier Robotics.
With 189 patent applications (including 120 granted) in humanoid robotics, Shanghai Electric is making significant strides in AI-driven industrial innovation. Going forward, Shanghai Electric will expand smart "human-machine" and "inter-machine" collaborative solutions across multifunctional industrial environments. Its comprehensive R&D capabilities—spanning critical components to fully functional robots—are accelerating the development of a world-class AI ecosystem.
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Liquidity position: The Trust held $5.7 million of cash at the end of the quarter and $28.5 million is available under its credit facilities (3). _______________________________________ (1) Non-IFRS financial measure. See Appendix 1. The referred non-IFRS financial measures do not have a standardized meaning prescribed by IFRS and these measures cannot be compared to similar measures used by other issuers. (2) This is a non-IFRS financial measure. The mortgage debt ratio is calculated by dividing the mortgage loans outstanding by the total gross value of the assets of the Trust less cash and cash equivalents. (3) Credit facilities is a term used that reconciles with the bank loans as presented and defined in the Trust's consolidated financial statements and accompanying notes. QUARTERLY CALL INFORMATION Management will hold a conference call on Tuesday, August 5, 2025, at 9 a.m., Eastern Time, to present BTB's financial results and performance for the second quarter of 2025. Interested parties are invited to access the call at least 5 minutes prior to the scheduled start of the call. Note that the call will be in listening mode only. Conference call operators will coordinate the question-and-answer period (from analysts only) and will instruct participants regarding the procedures during the call. The audio recording of the conference call will be available via playback until August 12, 2025, by dialing (+1) 289-819-1450 (local) or 1-888-660-6345 (toll-free) and by entering the following access code: 05333 # ABOUT BTB BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB invests in industrial, suburban office and necessity-based retail properties across Canada for the benefit of their investors. As of today, BTB owns and manages 73 properties, representing a total leasable area of approximately 6.1 million square feet. People and their stories are at the heart of our success. For more detailed information, visit BTB's website at FORWARD-LOOKING STATEMENTS This press release may contain forward-looking statements with respect to BTB. These statements generally can be identified by the use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intend", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of BTB could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulation, and the factors described from time to time in the documents filed by BTB with the securities regulators in Canada. The cautionary statements qualify all forward-looking statements attributable to BTB and persons acting on their behalf. Unless otherwise stated or required by applicable law, all forward-looking statements speak only as of the date of this press release. APPENDIX 1: RECONCILIATION OF NON-IFRS MEASURES Non-IFRS Financial Measures Certain terms used in this press release are listed and defined in the table hereafter, including any per unit information if applicable, are not measures recognized by International Financial Reporting Standards ("IFRS") and do not have standardized meanings prescribed by IFRS. Such measures may differ from similar computations as reported by similar entities and, accordingly, may not be comparable to similar measures. Explanations on how these non-IFRS financial measures provide useful information to investors and additional purposes, if any, for which the Trust uses these non- IFRS financial measures, are also included in the table hereafter. Securities regulations require that non-IFRS financial measures be clearly defined and that they not be assigned greater weight than IFRS measures. The referred non-IFRS financial measures, which are reconciled to the most similar IFRS measure in the table thereafter if applicable, do not have a standardized meaning prescribed by IFRS and these measures cannot be compared to similar measures used by other issuers. NON-IFRS MEASURE DEFINITION Cash Net Operating Income Cash net operating income ("NOI") is a non-IFRS financial measure defined as net operating income less: (i) lease incentive amortization; and (ii) straight-line lease adjustment. Cash NOI is reconciled to NOI, which is the most directly comparable IFRS measure. The Trust considers this to be a useful measure of operating performance and the profitability of it's portfolio by excluding non-cash items. Cash Same-Property NOI Cash same-property NOI is a non-IFRS financial measure defined as Cash net operating income ("NOI") for the properties that the Trust owned and operated for the entire duration of both the current year and the previous year. The most directly comparable IFRS measure to same-property Cash NOI is Operating Income. The Trust believes this is a useful measure as Cash NOI growth can be assessed on its portfolio by excluding the impact of property acquisitions and dispositions of both the current year and previous year. The Trust uses the Cash same-property NOI to indicate the profitability of its existing portfolio operations and the Trust's ability to increase its revenues, reduce its operating costs and generate organic growth. NON-IFRS MEASURE DEFINITION Funds from Operations ("FFO") and FFO Adjusted FFO is a non-IFRS financial measure used by most Canadian real estate investment trusts based on a standardized definition established by REALPAC in its January 2022 White Paper ("White Paper"). FFO is defined as net income and comprehensive income less certain adjustments, on a proportionate basis, including: (i) fair value adjustments on investment properties, class B LP units and derivative financial instruments; (ii) amortization of lease incentives; (iii) incremental leasing costs; and (iv) distribution on class B LP units. FFO is reconciled to net income and comprehensive income, which is the most directly comparable IFRS measure. FFO is also reconciled with the cash flows from operating activities, which is an IFRS measure. FFO Adjusted is also a non-IFRS financial measure that starts with FFO and remove the impact of non-recurring items such as transaction cost on acquisitions and dispositions of investment properties and early repayment fees. The Trust believes FFO and FFO Adjusted are key measures of operating performance and allow the investors to compare its historical performance. Adjusted Funds from Operations ("AFFO") and AFFO Adjusted AFFO is a non-IFRS financial measure used by most Canadian real estate investment trusts based on a standardized definition established by REALPAC in its White Paper. AFFO is defined as FFO less: (i) straight- line rental revenue adjustment; (ii) accretion of effective interest; (iii) amortization of other property and equipment; (iv) unit-based compensation expenses; (v) provision for non-recoverable capital expenditures; and (vi) provision for unrecovered rental fees (related to regular leasing expenditures). AFFO is reconciled to net income and comprehensive income, which is the most directly comparable IFRS measure. AFFO is also reconciled with the cash flows from operating activities, which is an IFRS measure. AFFO Adjusted is also a non-IFRS financial measure that starts with AFFO and removes the impact of non-recurring items such as transaction costs on acquisitions and dispositions of investment properties and early repayment fees. The Trust considers AFFO and AFFO Adjusted to be useful measures of recurring economic earnings and relevant in understanding its ability to service its debt, fund capital expenditures and provide distributions to unitholders. NON-IFRS MEASURE DEFINITION FFO and AFFO per unit and FFO adjusted and AFFO adjusted per unit FFO and AFFO per unit and FFO adjusted and AFFO adjusted per unit are non-IFRS financial measures used by most Canadian real estate investment trusts based on a standardized definition established by REALPAC in its White Paper. These ratios are calculated by dividing the FFO, AFFO, FFO adjusted and AFFO adjusted by the Weighted average number of units and Class B LP units outstanding. The Trust believes these metrics to be key measures of operating performances allowing the investors to compare its historical performance in relation to an individual per unit investment in the Trust. FFO and AFFO payout ratios and FFO Adjusted and AFFO Adjusted payout ratios FFO and AFFO payout ratios and FFO Adjusted and AFFO Adjusted payout ratios are non-IFRS financial measures used by most Canadian real estate investment trusts based on a standardized definition established by REALPAC in its White Paper. These payout ratios are calculated by dividing the actual distributions per unit by FFO, AFFO and FFO Adjusted and AFFO Adjusted per unit in each period. The Trust considers these metrics a useful way to evaluate its distribution paying capacity. Total Debt Ratio Total debt ratio is a non-IFRS financial measure of the Trust financial leverage, which is calculated by taking the total long-term debt less cash divided by total gross value of the assets of the Trust less cash. The Trust considers this metric useful as it indicates its ability to meet its debt obligations and its capacity for future additional acquisitions. Total Mortgage Debt Ratio Mortgage debt ratio is a non-IFRS financial measure of the Trust financial leverage, which is calculated by taking the total mortgage debt less cash divided by total gross value of the assets of the Trust less cash. The Trust considers this metric useful as it indicates its ability to meet its mortgage debt obligations and its capacity for future additional acquisitions. NON-IFRS MEASURE DEFINITION Interest Coverage Ratio Interest coverage ratio is a non-IFRS financial measure which is calculated by taking the Adjusted EBITDA divided by interest expenses net of financial income (interest expenses exclude early repayment fees, accretion of effective interest, distribution on Class B LP units, accretion of non-derivative liability component of convertible debentures and the fair value adjustment on derivative financial instruments and Class B LP units). The Trust considers this metric useful as it indicates its ability to meet its interest cost obligations for a given period. Debt Service Coverage Ratio Debt service coverage ratio is a non-IFRS financial measure which is calculated by taking the Adjusted EBITDA divided by the Debt Service Requirements, which consists of principal repayments and interest expenses net of financial income (interest expenses exclude early repayment fees, accretion of effective interest, distribution on Class B LP units, accretion of non-derivative liability component of convertible debentures and the fair value adjustment on derivative financial instruments and Class B LP units). The Trust considers this metric useful as it indicates its ability to meet its interest cost obligations for a given period. APPENDIX 2: NON-IFRS FINANCIAL MEASURES – QUARTERLY RECONCILIATION Funds from Operations (FFO) (1) The following table provides a reconciliation of net income and comprehensive income established in accordance with IFRS and FFO (1) for the last eight quarters: 2025 2025 2024 2024 2024 2024 2023 2023 Q-2 Q-1 Q-4 Q-3 Q-2 Q-1 Q-4 Q-3 (in thousands of dollars, except for per unit) $ $ $ $ $ $ $ $ Net income and comprehensive income (IFRS) 6,194 7,608 18,847 5,470 7,272 7,153 1,734 15,216 Fair value adjustment on investment properties (700) - (9,975) (283) - (6) 4,480 (6,481) Fair value adjustment on Class B LP units 167 28 (174) 335 (21) 160 (42) (159) Amortization of lease incentives 836 797 966 807 704 690 641 664 Fair value adjustment on derivative financial instruments (176) 868 (760) 2,168 379 (325) 2,396 (584) Leasing payroll expenses 525 466 739 535 433 591 401 359 Distributions – Class B LP units 52 52 52 52 53 52 52 56 Unit-based compensation (Unit price remeasurement) 201 61 (39) 342 63 409 (11) (87) FFO (1) 7,099 9,880 9,656 9,426 8,883 8,724 9,651 8,984 Transaction costs on disposition of investment properties and mortgage early repayment fees 266 - - - 266 201 37 46 FFO Adjusted (1) 7,365 9,880 9,656 9,426 9,149 8,925 9,688 9,030 FFO per unit (1) (2) (3) 8.0¢ 11.1¢ 10.9¢ 10.7¢ 10.1¢ 10.0¢ 11.1¢ 10.3¢ FFO Adjusted per unit (1) (2) (4) 8.3¢ 11.1¢ 10.9¢ 10.7¢ 10.4¢ 10.2¢ 11.1¢ 10.4¢ FFO payout ratio (1) 94.0 % 67.4 % 68.8 % 70.0 % 74.3 % 75.2 % 67.5 % 72.9 % FFO Adjusted payout ratio (1) 90.6 % 67.4 % 68.8 % 70.3 % 72.2 % 73.5 % 67.2 % 72.5 % (1) This is a non-IFRS financial measure, refer to appendix 1. (2) Including Class B LP units. (3) The FFO per unit ratio is calculated by dividing the FFO (1) by the Trust's unit outstanding at the end of the period (including the Class B LP units at outstanding at the end of the period). (4) The FFO Adjusted per unit ratio is calculated by dividing the FFO Adjusted (1) by the Trust's unit outstanding at the end of the period (including the Class B LP units at outstanding at the end of the period). Adjusted Funds from Operations (AFFO) (1) The following table provides a reconciliation of FFO (1) and AFFO (1) for the last eight quarters: 2025 2025 2024 2024 2024 2024 2023 2023 Q-2 Q-1 Q-4 Q-3 Q-2 Q-1 Q-4 Q-3 (in thousands of dollars, except for per unit) $ $ $ $ $ $ $ $ FFO (1) 7,099 9,880 9,656 9,426 8,883 8,724 9,651 8,984 Straight-line rental revenue adjustment 1,500 (381) (374) (247) (183) (394) (197) (842) Accretion of effective interest 367 580 402 391 361 308 310 271 Amortization of other property and equipment 17 18 21 17 17 17 20 33 Unit-based compensation expenses 159 133 247 19 (95) (9) 159 184 Provision for non-recoverable capital expenditures (1) (610) (688) (654) (650) (644) (653) (639) (626) Provision for unrecovered rental fees (1) (375) (375) (375) (375) (375) (375) (375) (375) AFFO (1) 8,157 9,167 8,923 8,581 7,964 7,618 8,929 7,629 Transaction costs on disposition of investment properties and mortgage early repayment fees 266 - - - 267 201 37 46 AFFO Adjusted (1) 8,423 9,167 8,923 8,581 8,231 7,819 8,966 7,675 AFFO per unit (1) (2) (3) 9.2¢ 10.3¢ 10.1¢ 9.7¢ 9.1¢ 8.7¢ 10.2¢ 8.8¢ AFFO Adjusted per unit (1) (2) (4) 9.5¢ 10.3¢ 10.1¢ 9.7¢ 9.4¢ 8.9¢ 10.3¢ 8.8¢ AFFO payout ratio (1) 81.8 % 72.7 % 74.5 % 76.8 % 82.9 % 86.2 % 72.9 % 85.8 % AFFO Adjusted payout ratio (1) 79.2 % 72.7 % 74.5 % 77.2 % 80.2 % 83.9 % 72.6 % 85.3 % (1) This is a non-IFRS financial measure, refer to appendix 1. (2) Including Class B LP units. (3) The AFFO per unit ratio is calculated by dividing the AFFO (1) by the Trust's unit outstanding at the end of the period (including the Class B LP units at outstanding at the end of the period). (4) The AFFO Adjusted per unit ratio is calculated by dividing the AFFO Adjusted (1) by the Trust's unit outstanding at the end of the period (including the Class B LP units at outstanding at the end of the period). APPENDIX 3: NON-IFRS FINANCIAL MEASURES – DEBT RATIOS Debt Ratios The following table summarizes the Trust's debt ratios as at June 30 2024 and 2025 and December 31, 2024: (in thousands of dollars) June 30, 2025 December 31, 2024 June 30, 2024 $ $ $ Cash and cash equivalents (5,677) (2,471) (857) Mortgage loans outstanding (1) 659,094 665,607 636,492 Convertible debentures (1) 36,816 19,576 43,375 Credit facilities 30,951 44,298 39,606 Total long-term debt less cash and cash equivalents (2) (3) 721,184 727,010 718,616 Total gross value of the assets of the Trust less cash and cash equivalents (2) (4) 1,263,906 1,254,818 1,236,326 Mortgage debt ratio (excluding convertible debentures and credit facilities) (2) (5) 51.7 % 52.8 % 51.4 % Debt ratio – convertible debentures (2) (6) 2.9 % 1.6 % 3.5 % Debt ratio – credit facilities (2) (7) 2.4 % 3.5 % 3.2 % Total debt ratio (2) 57.1 % 57.9 % 58.1 % (1) Before unamortized financing expenses and fair value assumption adjustments. (2) This is a non-IFRS financial measure, refer to appendix 1 (3) Long-term debt less free cash flow is a non-IFRS financial measure, calculated as total of: (i) fixed rate mortgage loans payable; (ii) floating rate mortgage loans payable; (iii) Series I debenture capital adjusted with non-derivative component less conversion options exercised by holders; and (iv) credit facilities, less cash and cash equivalents. The most directly comparable IFRS measure to net debt is debt. (4) Gross value of the assets of the Trust less cash and cash equivalent ("GVALC") is a non-IFRS financial measure defined as the Trust total assets adding the cumulated amortization property and equipment and removing the cash and cash equivalent. The most directly comparable IFRS measure to GVALC is total assets. (5) Mortgage debt ratio is calculated by dividing the mortgage loans outstanding by the GVALC. (6) Debt ratio – convertible debentures is calculated by dividing the convertible debentures by GVALC. (7) Debt ratio – credit facilities is calculated by dividing the credit facilities by the GVALC. SOURCE BTB Real Estate Investment Trust
Cision Canada
6 hours ago
- Cision Canada
LSL PHARMA GROUP ANNOUNCES THE COMPLETION OF EARLY REDEMPTION OF ALL 11% UNSECURED CONVERTIBLE DEBENTURES
BOUCHERVILLE, QC, Aug. 4, 2025 /CNW/ - LSL PHARMA GROUP INC. (TSXV: LSL) (" LSL Pharma" or the " Corporation"), a Canadian integrated pharmaceutical company, today announced that it has completed the early redemption and cancellation of all issued and outstanding 11.0% Unsecured Convertible Debentures (originally scheduled to mature on October 31, 2028) (the " Debentures"). Pursuant to the Company's announcement on July 2, 2025, Debenture holders were paid an aggregate amount of $3,505,098.08, representing (i) $3,288,000 as the principal amount of the Debentures, (ii) the early repayment premium pursuant to the trust indenture dated November 1, 2023 between the Corporation and the Trustee ,TSX Trust Company and (iii) all accrued and unpaid interest up to but excluding the Redemption Date. As a result of the early redemption, all Debentures, previously listed on the TSX Venture Exchange (" TSXV") under the symbol were delisted and have ceased trading on August 1, 2025, in accordance with TSXV policies. ABOUT LSL PHARMA GROUP INC. LSL Pharma Group Inc. is a Canadian integrated pharmaceutical company specializing in the development, manufacturing and commercialization of high-quality sterile ophthalmic pharmaceutical products, as well as pharmaceutical, cosmetic and natural health products in solid, semi-solid and liquid dosage forms. Companies forming part of LSL Pharma Group include Steri-Med Pharma Inc., LSL Laboratory Inc., Virage Santé Inc. and Dermolab Pharma Ltd. For further information, please visit our website at CAUTION REGARDING FORWARD-LOOKING STATEMENTS This press release may contain forward-looking statements as defined under applicable Canadian securities legislation. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "continue" or similar expressions. Forward-looking statements are based on a number of assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Corporation's ability to control or predict, that could cause actual results or performance to differ materially from those expressed or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, those identified in the Corporation's filings with Canadian securities regulatory authorities, such as legislative or regulatory developments, increased competition, technological change and general economic conditions. All forward-looking statements made herein should be read in conjunction with such documents. Readers are cautioned not to place undue reliance on forward-looking statements. No assurance can be given that any of the events referred to in the forward-looking statements will transpire, and if any of them do, the actual results, performance or achievements of the Corporation may differ materially from those expressed or implied by the forward-looking statements. All forward-looking statements contained in this press release speak only as of the date of this press release. The Corporation does not undertake to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) have reviewed or accept responsibility for the adequacy or accuracy of this release. SOURCE Groupe LSL PHARMA INC.
