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NEXTBIOMEDICAL, Fast Resorbable Microsphere 'Nexsphere-F' : Clinical Study Results on 155 Patients Published in the JVIR
Safety and Excellent Pain Relief Effect after Musculoskeletal Pain Embolization SEOUL, South Korea, March 17, 2025 /PRNewswire/ -- NEXTBIOMEDICAL CO., LDT, announced that clinical study results of Nexsphere-F™, a resorbable embolic agent for treating joint pain, have been published in the esteemed Journal of Vascular and Interventional Radiology (JVIR). Transcatheter arterial embolization with Nexsphere-F™ was used to address a variety of joint disorders, including knee osteoarthritis, frozen shoulders, symptomatic rotator cuff tears, synovitis of the foot joints, and other refractory overuse injuries. This research was spearheaded by Dr. Yuji Okuno, a globally recognized expert and pioneer in embolization treatment for joint pain. Safety and efficacy were reported in 155 patients. At 6 months, Nexsphere-F™ embolization demonstrated a sustained and substantial reduction of 67% in pain, as assessed using the Numerical Rating Scale, across a broad spectrum of degenerative joint diseases and injuries. Notably, there were no serious adverse events reported in any of the study groups. Post-embolization pain exceeding 7 days occurred in only 5.8%, significantly lower than the rates observed in competing products, in this challenging population. NEXTBIOMEDICAL's CTO, Eunhye Lee(Ph.D), stated "It holds great significance that the safety and efficacy of Nexsphere-F™ have been further validated in Dr. Okuno's study, a prominent figure in the field. Leveraging these promising results, we intend to intensify our sales strategies in the European market and initiate further clinical trials to broaden the indications of Nexsphere-F™ beyond degenerative joint disease to encompass other joint disorders." NEXTBIOMEDICAL has received FDA IDE and WCG IRB approval for its pivotal RESORB trial in the United States and is currently recruiting clinical sites. This multicenter study will support FDA approval of Nexsphere-F™ for treatment of painful osteoarthritis, paving the way for its introduction to the U.S. market. In the meantime, NEXTBIOMEDICAL has already exceeded its Q4 2024 revenue with sales from January and February 2025 alone. The company anticipates a 1.5-fold increase in Q1 2025 revenue compared to the previous quarter, indicating sustained sales growth.
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SHEIN Kicks Off Festival Season at Rolling Loud California
The global fashion powerhouse brought bold style and interactive experiences to the world's biggest hip-hop festival LOS ANGELES, March 17, 2025 /PRNewswire/ -- Global fashion and lifestyle online retailer SHEIN made waves this past weekend at Rolling Loud California as the music festival's official online fashion retail partner. SHEIN Kicks Off Festival Season at Rolling Loud California For the first time ever, SHEIN joined forces with Rolling Loud to create an immersive festival experience that blended fashion and culture at the SHEIN Street activation. Attendees stepped into a world of festival-ready self-expression with a blinged-out accessory bar, a custom airbrush tattoo station, sparkling tooth gems, and exclusive photo moments designed for the perfect festival fit check. SHEIN remains dedicated to making bold, trend-driven festival style accessible for all. This season, SHEIN spotlighted its exclusive festival trend stores, including SUMWON, SHEIN BAE, SHEIN ICON, and StreetHX —each catering to different music festival aesthetics, from edgy and daring to effortlessly cool. Search these store names on SHEIN.com to find an array of festival-ready tops, pants, shoes, and more. With fashion-forward, affordable pieces, SHEIN empowers festivalgoers to show up and show out, without breaking the bank. SHEIN is calling on fans to share their festival fashion on social media by tagging @shein_us and using the hashtag #SHEINFestivalFits. Festival season is just getting started, shop your festival looks now at us.SHEIN.com. About SHEIN SHEIN is a global online fashion and lifestyle retailer offering SHEIN-branded apparel and products from a global network of vendors, all at affordable prices. Headquartered in Singapore, SHEIN is committed to making the beauty of fashion accessible to all, promoting its industry-leading, on-demand production methodology for a smarter, future-ready industry. To learn more about SHEIN, visit www.sheingroup.com. About Rolling Loud: Founded in 2015 by childhood friends and Miami natives, Matt Zingler and Tariq Cherif (8x Billboard Hip-Hop Power Players), Rolling Loud was built out of a flourishing South Florida hip-hop community that the pair cultivated through years of concert promotions. In a time where live hip-hop entertainment wasn't being taken seriously by the pop music machine, Rolling Loud shattered expectations from the jump – prompting them to expand at an unprecedented rate from Miami to Los Angeles, New York, San Francisco and Australia within 5 years and to Portugal, The Netherlands, Germany, Austria, Toronto and Thailand within 10 years. The festival not only brings hip-hop to fans around the world, it is where hip-hop history is made. From Lil Uzi Vert's iconic stage dive in 2017 to Ice Spice's first ever performance in 2022 to Future and Metro Boomin kicking off the Kendrick Lamar x Drake battle in 2024, the Rolling Loud stage is where it all goes down. Rolling Loud's advancement is largely credited to its dedication to cultivating community in every market they touch, paving an opportunity for them to be revered as more than just a festival – it's a lifestyle brand. With a booming fashion and merchandising business that outsells some of the biggest artists in the world, a thriving media and production arm that creates content for other world-renown brands, and an unprecedented web3 model that integrates experience with digital ownership, Rolling Loud has built a 360º brand that fans, brands, and artists alike respect for its ingenuity and authenticity. Rolling Loud is the World's Largest Hip-Hop Festival, point blank period. Many have tried, but none have prevailed like Rolling Loud.
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Giraffe Tools Commits to Innovation and Digital Strategies as Retractable Tools Market Grows
NEW YORK, March 17, 2025 /PRNewswire/ -- Once a niche convenience for garages and workshops, retractable tools have become household essentials. From coiling garden hoses to managing air pipes in DIY spaces, these tools are reshaping how consumers approach home maintenance. According to Frost & Sullivan's "White Paper for the Global Retractable Tools Industry" published in February, the retractable tools sector is projected to grow from US$880 million in 2024 to US$1.12 billion by 2029—an increase of 27.69%. Among the brands named in the report, Giraffe Tools has been recognized as a leader. The company was the first to introduce retractable pressure washers to the U.S. The report stated that the company holds 15.6 percent of the market share in this category, surpassing other established brands, such as Black and Decker (8.0%) and KARCHER (7.2%). This growth is driven by rising demand for gardening and DIY home improvement needs. Additionally, consumers are seeking sleeker, more convenient alternatives to traditional home tools, which can be bulky, cumbersome to deploy, and difficult to use. In this regard, thoughtful designs have become a focus within the tools industry. Furthermore, consumers' shopping habits have shifted from browsing in brick-and-mortar retail stores to purchasing through online marketplaces. From discovery to checkout, consumers are making more buying decisions from their homes. This shift, combined with the convenience of retractable tools, is fueling their increasing popularity. This amalgamation of factors has pushed brands to respond with smarter, more efficient tools that afford greater convenience. And as with almost all industries, technology has changed how tools are made and used. Manufacturers are increasingly enhancing their products with features like automated retraction and mobile app connectivity. Meanwhile, new materials, such as lightweight composites and corrosion-resistant alloys, have improved the tools' durability. Although much has changed in how value is added to tools, their fundamental roles remain constant. Regardless of their peripheral features, they must still possess a core set of qualities: reliable performance, durable construction, and ease of use. Giraffe Tools meet these requirements by integrating high-grade parts, materials, and design. For example, its Grandfalls Washer Pro features a powerful 1,800W induction motor that produces a maximum pressure of 3,300 PSI. Being electrically driven, it is quieter than gas-operated pressure washers and features a convenient, self-retractable wall-mounting design. The company's other products offer features such as remote-control switches, triple-piston pumps, and self-layering hose systems among others. These enhancements improve durability, performance, and user experience. The company's products have been recognized within the industry, with the Giraffe Tools Grandfalls Retractable Pressure Washer Pro earning the 2024 Pro Tool Innovation Award. Beyond pressure washers, the company has a portfolio of vacuums, hose reels, and home maintenance accessories. However, product innovation alone is no longer adequate to sway purchasing decisions. Today, tool makers need to offer seamless omnichannel consumer experiences. According to the U.S. Census Bureau[1], e-commerce sales in Q4 2024 increased by 9.4% compared to Q4 2023, with e-commerce accounting for 16.4% of total retail sales. As online shopping proliferates, consumers increasingly rely on detailed product descriptions, comparison tools, and customer reviews to make informed purchasing decisions. This trend is particularly poignant in the United States, which remains the largest single market for retractable tools, accounting for 42.8% of total sales. As a result, manufacturers have been pushed to refine their digital marketing strategies and optimize their online presence. Those who adapt will be better positioned to meet the evolving demands of today's digital-first consumers. In this regard, Giraffe Tools is heavily leveraging its direct-to-consumer channels and expanding its footprint on major e-commerce platforms such as Amazon and marketplaces like Walmart. By combining its online presence with a strong offline retail presence in stores like Lowe's, Giraffe Tools is rapidly reaching new audiences while maintaining its reputation for high quality. By January 2023, the company had already sold 10 million units globally, with the U.S. being its primary market. With the global retractable tools market poised to reach $1.12 billion by 2029, it signals continued momentum for brands that innovate and meet the evolving expectations of online consumers. For Giraffe Tools, the company is focused on expanding into new markets, such as UK, Canada, and Australia, while continuing to develop product innovations. The brand also has a clear roadmap for new releases and expansion into new product categories, including charging solutions and automotive maintenance. About Giraffe Tools Founded in 2004 with the goal of simplifying heavy work, Giraffe Tools is a leading innovator in retractable cleaning and gardening tools. The company offers user-friendly, space-saving, and efficient products, such as retractable pressure washers, outdoor vacuums, air hose reels, extension cord reels, and garden hoses, to redefine yard maintenance. With a focus on innovation and quality, Giraffe Tools has sold over 10 million units worldwide to markets including the U.S., UK, Australia, and Canada. Due to its efficient direct-to-consumer sales model, Giraffe Tools passes on the savings to its users, offering quality innovations at affordable prices. Learn more at giraffetools.com [1] Quarterly Retail E-Commerce Sales. (2025). United States Census Bureau. https://www.census.gov/retail/ecommerce.html
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WuXi AppTec Revenue and Profit Achieved Steady QoQ Growth in 2024, Meeting Full-year Guidance; Q4 Revenue and Profit Both Reached Record Highs
Fourth-Quarter Revenue Reached RMB11,539 Million, Up 6.9% Year-over-Year 2024 Revenue Reached RMB39,241 Million, Up 5.2% Year-over-Year (Excluding COVID-19 Commercial Project of 2023) Full-Year Net Profit Attributable to the Owners of the Company Reached RMB9,450 Million[1], Diluted Earnings per Share (EPS) of RMB3.26[2] Adjusted Non-IFRS Net Profit Attributable to the Owners of the Company Reached RMB10,583 Million, as 2024 Adjusted Non-IFRS Net Profit Margin Reached Record High of 27.0%; Adjusted Non-IFRS Diluted EPS of RMB3.65 in 2024 Free Cash Flow Achieved Record High of RMB7.98 Billion SHANGHAI, March 17, 2025 /PRNewswire/ -- WuXi AppTec (stock code: 603259.SH / 2359.HK), a global company that provides a broad portfolio of R&D and manufacturing services that enable companies in the pharmaceutical and life sciences industry, today announced financial results for the year ending December 31, 2024 ("Reporting Period"): Revenue reached RMB39,241 million, up 5.2% year-over-year after excluding COVID-19 commercial project in 2023. Adjusted non-IFRS gross profit reached RMB16,326 million. Adjusted non-IFRS gross profit margin was 41.6%. The Company continued to improve operating efficiency, and 2024 adjusted non-IFRS net profit margin reached a record high of 27.0%. Net profit attributable to the owners of the Company was RMB9,450 million; diluted EPS was RMB3.26. Adjusted non-IFRS net profit attributable to the owners of the Company was RMB10,583 million; adjusted diluted non-IFRS EPS was RMB3.65. Driven jointly by continued business growth, efficient operations, and constant improvement of financial management capabilities, free cash flow reached a record high of RMB7.98 billion in 2024. Demand from customers across regions continued to grow. There were ~6,000 active customers at the end of 2024. This included ~5,500 active customers for Continuing Operations, and ~1,000 new customers added in 2024 for Continuing Operations. By the end of 2024, backlog for Continuing Operations reached RMB49.31 billion, growing 47.0% year-over-year. In 2024, revenue from the top 20 global pharmaceutical companies reached RMB16.64 billion, growing 24.1% year-over-year excluding COVID-19 commercial project. The sustained and steady business growth is attributed to our unique fully integrated Contract Research, Development and Manufacturing Organization (CRDMO) platform. WuXi Chemistry's small molecule D&M pipeline has maintained growth, with a total of 1,187 new molecules added in 2024. As of December 31, 2024, our small molecule D&M pipeline reached 3,377 molecules, with an increase of 25 projects in the commercial and phase III stages during 2024. In 2024, our Taixing API manufacturing site commenced operations, and capacity at both Changzhou and Taixing sites steadily increased over the course of the year. Total reactor volume of small molecule APIs is expected to reach over 4,000kL by end of 2025. The total reactor volume of Solid Phase Peptide Synthesizer reached 41,000L as of the end of 2024, and is expected to further increase to over 100,000L by the end of 2025. The Company has been accelerating global capacity expansion. We continued to invest in Couvet, Switzerland site, doubling oral dose manufacturing capacity over the course of 2024. We continued to build the Middletown, Delaware site in the US, which is expected to commence operations by the end of 2026. In May 2024, we broke ground to build the R&D and manufacturing site in Singapore, with its Phase I portion expected to commence operations in 2027. As an enabler of innovation and a trusted partner and contributor to the global pharmaceutical and life sciences industry, the Company actively advanced sustainability and has been consistently recognized by global rating agencies. For four consecutive years, the Company maintained an "AA" rating from MSCI and was named to the S&P Global DJSI Member. In 2024, the Company was improved to EcoVadis "Gold" Rating and CDP Water Security "A" Rating, and joined the United Nations Global Compact (UNGC). Our outstanding performance has also been widely acknowledged by major global rating agencies, including Sustainalytics and FTSE Russell. The Company remains steadfast in our unwavering commitment to guarding customers' IP and adhering to the highest standards for quality and compliance. In 2024, the Company has received a total of 802 quality audits and inspections conducted by global customers, regulatory authorities and independent third parties, and achieved 100% pass rate with no critical findings. Global customers also conducted 58 information security audits, with no critical findings. In addition, 24 of our main operating sites are ISO/IEC 27001 certified, including all main operating sites in China. To ensure that clients and patients with a pressing need for the WuXi ATU cell therapy services can continue to receive time-critical and life-saving treatments without interruption, while valued scientists, technicians and other staff of the WuXi ATU US and UK business can continue to work towards achieving the mission that "every drug can be made and every disease can be treated", the Company signed an agreement to sell the US and UK based operations of WuXi ATU at the end of 2024. In addition, to sharpen our focus on the unique CRDMO to better serve global new drug R&D customers and enhance business synergies across research, development and manufacturing services to better meet the evolving needs of our customers globally, the Company signed an agreement to sell the US medical device testing operations at the end of 2024. As of now, both transactions have been completed. The aforementioned operations, classified as Discontinued Operations in the Company's 2024 Annual Report, collectively contributed revenue of RMB1.32 billion in 2024. [1] Net profit attributable to the owners of the Company is prepared according to Accounting Standard for Business Enterprises of PRC. Due to the different accounting treatment of long-term equity investments under IFRS, net profit attributable to the owners of the Company under IFRS is RMB9,353 million. [2] In 2023 and 2024, WuXi AppTec had a fully-diluted weighted average share count of 2,949,887,619 and 2,893,886,763 ordinary shares, respectively. 2025 Outlook The Company expects Continuing Operations revenue to resume double-digit growth of 10-15% YoY in 2025, targeting to deliver a total revenue of RMB41.5-43.0 billion. The Company will continue to focus on the core CRDMO business, and to improve operating efficiency amid ongoing new capacity release. Adjusted non-IFRS Net Profit Margin expects to further improve in 2025. With the acceleration of global D&M capacity expansion, capex expects to reach RMB7.0-8.0 billion in 2025. Together with business growth and efficiency improvement, free cash flow expects to reach RMB4.0-5.0 billion. While continuously building capacity and capabilities, we remain committed to rewarding shareholders by maintaining an annual cash dividend payout ratio of 30% of net profit attributable to the owners of the Company (~RMB2.8 billion). In appreciation of shareholders' support for our strategic adjustments in challenging times, we propose an additional one-time special cash dividend of RMB1.0 billion and an increased interim dividend in 2025. In addition, the Company plans to repurchase RMB1.0 billion A-share when appropriate. Meanwhile, the Company will continue to invest in talent retention for long-term shared growth. The Company plans to launch the 2025 H-share Incentive Trust Plan, which will grant HKD1.5 billion H-shares upon achieving RMB42.0 billion revenue in 2025, and an additional HKD1.0 billion H-shares upon reaching RMB43.0 billion and above in revenue. H-shares under this plan will be purchased through open market at prevailing market prices (no dilution to existing shareholders). Management Comment Dr. Ge Li, Chairman and CEO of WuXi AppTec, said, "The Company remains steadfast in 'doing the right thing and doing it right'. In 2024, we achieved 5.2% year-over-year revenue growth (excluding COVID-19 commercial project of 2023), with all revenue, profit and free cash flow meeting the targets set in our annual guidance. Meanwhile, the backlog for Continuing Operations reached a record high of RMB49.3 billion, representing a 47.0% year-over-year growth." "The Company continues to focus on our unique CRDMO business model, delivering efficient and exceptional services to our global customers and benefiting patients worldwide. Our CRDMO business model enables the Company to generate distinct industry insights and respond promptly to new molecule demands from customers, ensuring the Company's long-term business growth and sustainable returns to shareholders. Entering 2025, the Company will resume its growth trajectory, with Continuing Operations revenue expected to achieve a year-over-year double-digit growth of 10-15%, and the adjusted non-IFRS net profit margin expected to further improve." "Thanks to the enduring trust and support from our global customers, the Company will continue to enhance our capabilities, capacity and operating efficiency, while retaining and attracting top talent to support our customers' growing efforts to bring groundbreaking therapies to patients. Together, we can realize our vision that 'every drug can be made and every disease can be treated'." Business Performance by Segments WuXi Chemistry: CRDMO Business Model Drives Continuous Growth; 2024 Revenue Up 11.2% YoY Excluding COVID-19 Commercial Project of 2023, with TIDES Revenue Up 70.1% YoY WuXi Chemistry Q4 revenue was up 13.0% year-over-year to RMB8.96 billion; 2024 revenue reached RMB29.05 billion, up 11.2% year-over-year excluding COVID-19 commercial project. With continued optimization of production process and constant improvement in efficiency, 2024 adjusted non-IFRS gross profit margin steadily improved 1.2pts year-over-year to 46.4%. Small molecule drug discovery services ("R") continues to generate downstream opportunities. In 2024, we successfully synthesized and delivered more than 460,000 new compounds to customers, which resulted in 10% year-over-year growth. Through our "follow-the-customer" and "follow-the-molecule" strategies, we established trusted partnerships with our customers globally, supporting the sustainable growth of our CRDMO business. In 2024, 366 molecules were converted from R to D. Small molecule development and manufacturing (D&M) services remains strong.i. 2024 revenue of small molecule D&M services reached RMB17.87 billion, up 6.4% year-over-year excluding COVID-19 commercial project.ii. The small molecule CDMO pipeline continued to expand. In 2024, 1,187 new molecules were added to the small molecule D&M pipeline. As of December 31, 2024, our small molecule D&M pipeline reached 3,377 molecules, including 72 commercial projects, 80 in phase III, 360 in phase II and 2,865 in phase I and pre-clinical stages, with an increase of 25 projects in the commercial and phase III stages during 2024.iii. In 2024, Taixing API site commenced operations, and capacity at both Changzhou and Taixing sites steadily increased over the course of the year. The total reactor volume of small molecule APIs is expected to reach over 4,000kL by end of 2025.iv. We continued to invest in our Switzerland (Couvet) site, doubling oral dose capacity over the course of 2024. Meanwhile, we continued to build our U.S. (Middletown) site, which is expected to commence operations by the end of 2026. In May 2024, we announced the groundbreaking of Singapore R&D and manufacturing site; Phase I expects to commence operations in 2027. TIDES business (oligo and peptides) sustains rapid growth.i. 2024 TIDES revenue grew 70.1% year-over-year to RMB5.80 billion. By end of 2024, TIDES backlog was up 103.9% year-over-year.ii. TIDES D&M customers grew 15% year-over-year, while the number of TIDES molecules grew 22% year-over-year.iii. At the end of 2024, total reactor volume of solid phase peptide synthesizers reached 41,000L, and is expected to further increase to over 100,000L by the end of 2025. WuXi Testing[3]: Drug Safety Evaluation Service & Site Management Organization (SMO) Maintain Leading Positions Revenue of WuXi Testing reached RMB5.67 billion. Adjusted non-IFRS gross profit margin was 33.3%. 2024 revenue of lab testing services reached RMB3.86 billion, down 8.0% year-over-year due to market impact as pricing gradually reflected in revenue along with backlog conversion. Of which, drug safety evaluation services revenue was down 13.0% year-over-year, while maintaining an industry-leading position in the Asia-Pacific region. In 2024, the Qidong and Chengdu facilities received the National Medical Products Administration (NMPA) and Organization for Economic Co-operation and Development (OECD) GLP qualifications. The Suzhou facility was reviewed for the first time by the Japan Pharmaceuticals and Medical Devices Agency (PMDA) for on-site audit and successfully passed. New modality business continued to develop, while new vaccine capabilities continued to improve, and market share of nucleic acids, conjugates, and mRNA further expanded. The Company is committed to actively enabling customers global licensing. WuXi AppTec has supported approximately 40% of China biotech companies that have made out-licensing deals over the past three years. 2024 revenue of clinical CRO & SMO grew 2.8% year-over-year to RMB1.81 billion. Of which, SMO revenue grew 15.4% year-over-year, maintaining the industry leading position in China. In 2024, Clinical CRO enabled our customers to obtain 29 IND approvals and submit for 1 NDA filing. The SMO business continued steady growth, and supported 73 new drug approvals for customers in 2024. SMO supported 255 new drug approvals in total over the past decade, maintaining significant advantages in multiple areas (endocrinology, dermatology, lung cancer, cardiovascular disease, ophthalmology, rheumatology, central nervous system, medical aesthetics and rare tumors, etc.). [3] As disclosed in 2024 Annual Report, WuXi Testing here includes only the core business of Continuing Operations (similar to 2023 baseline). WuXi Biology: Early Screening & In Vivo Pharmacology-Related Business Drives Growth; WuXi Biology Platform Continues to Generate Downstream Opportunities With platform resources further integrated, WuXi Biology achieved steady quarter-over-quarter growth in 2024. Q4 revenue was up 9.3% quarter-over-quarter and up 9.2% year-over-year. Full-year revenue reached RMB2.54 billion, relatively flat year-over-year. Adjusted non-IFRS gross profit margin was 38.8%. The Company fully leveraged the advantage of one-stop service platform with in vitro & in vivo synergies, 2024 revenue of the non-oncology business grew 29.9% year-over-year, led by growth in metabolic and neurological areas. The Company continued to build a comprehensive and integrated screening platform, with related revenue gaining 18.7% year-over-year. The Company continued to build capabilities related to new modalities, which contributed more than 28% of WuXi Biology's total revenue in 2024. The number of customers and projects served by the nucleic acid platform continued to increase. Cumulatively, the Company has provided services to more than 290 customers, and successfully delivered more than 1,400 projects since 2021. WuXi Biology continued to generate downstream opportunities and contributed over 20% of the Company's new customers. This release provides a summary of the results and does not intend to provide a complete statement relating to the Company, its securities, or any relevant matters herein that a recipient may need in order to evaluate the Company. For additional information, please refer to the WuXi AppTec 2024 Annual Results Presentation and 2024 Annual Report disclosed on the Company's official website, as well as the Company's disclosure documents and information on the Shanghai Stock Exchange, the Stock Exchange of Hong Kong Limited website. Investors are advised to exercise caution and be aware of the investment risks in trading Company shares. Net Profit Attributable to the Owners of the Company is prepared under Accounting Standard for Business Enterprises of PRC ("People's Republic of China Financial Reporting Standards"), in currency of RMB. Besides, all other financial information disclosed in this press release is prepared based on International Financial Reporting Standards (IFRS), in currency of RMB. The 2024 Annual Report of the Company has been audited. 2024 Results by Segments Unit: RMB million Segment Revenue Change Adjusted non-IFRS Gross Profit Change Adjusted non-IFRS Gross Profit Margin WuXi Chemistry 29,052.41 (0.4) % 13,466.65 2.3 % 46.4 % WuXi Testing 5,670.74 (4.8) % 1,888.95 (19.1) % 33.3 % WuXi Biology 2,543.93 (0.3) % 987.23 (8.8) % 38.8 % Others(Note 1) 650.71 (34.7) % 210.16 3.2 % 32.3 % Discontinued Operations (Note 2) 1,323.65 (20.4) % (226.68) (253.3) % (17.1) % Total 39,241.43 (2.7) % 16,326.31 (3.6) % 41.6 % Note 1: Others comprise the non-core business of the company, as well as income from administrative services, sales of raw materials and sales of scrap materials. Note 2: By the end of 2024, the Company has signed an agreement to sell the US and UK based operations of WuXi ATU and the US medical device testing operations. According to IFRS, the aforementioned businesses are classified as discontinued operations. The Company completed the sales of the US and UK based operations of WuXi ATU and the US medical device testing operations as at the date of the report. Note 3: Any sum of the data above that is inconsistent with the total is due to rounding. Consolidated Statement of Profit or Loss[4] – Prepared under IFRS RMB Million Year Ended December 31, 2024 Year Ended December 31, 2023 Revenue 39,241.4 40,340.8 Cost of sales (23,225.3) (23,968.3) Gross profit 16,016.1 16,372.5 Other income 1,146.1 962.5 Other gains and losses 804.4 1,350.3 Impairment losses under expected credit losses ("ECL") model, net of reversal (334.3) (240.9) Impairment losses of non-financial assets (115.6) (67.4) Impairment losses of goodwill (110.4) (49.6) Impairment losses of assets classified as held for sale (948.4) - Selling and marketing expenses (745.4) (701.0) Administrative expenses (3,009.5) (2,994.9) R&D expenses (1,238.5) (1,440.6) Operating Profit 11,464.5 13,190.7 Share of results of associates 252.1 (35.1) Share of results of joint ventures (7.1) (32.5) Finance costs (268.6) (193.6) Profit before tax 11,441.0 12,929.6 Income tax expense (1,972.1) (2,131.7) Profit for the year 9,469.0 10,797.9 Profit for the year attributable to: Owners of the Company 9,352.6 10,690.2 Non-controlling interests 116.3 107.7 9,469.0 10,797.9 Consolidated Statement of Profit or Loss (continued) – Prepared under IFRS Year Ended December 31, 2024 Year Ended December 31, 2023 Weighted average number of ordinary shares for calculating EPS (express in shares) – Basic 2,885,200,544 2,934,188,474 – Diluted 2,893,886,763 2,949,887,619 Earnings per share (expressed in RMB per Share) – Basic 3.24 3.64 – Diluted 3.22 3.61 [4] If the sum of the data below is inconsistent with the total, it is caused by rounding Consolidated Statement of Financial Position[5] – Prepared under IFRS RMB Million December 31, December 31, 2024 2023 Non-current Assets Property, plant and equipment 25,267.8 25,844.4 Right-of-use assets 1,874.8 2,348.3 Goodwill 972.4 1,820.9 Other intangible assets 601.0 906.7 Interests in associates 2,322.2 2,180.4 Interests in joint ventures 3.4 35.2 Deferred tax assets 473.1 366.7 Financial assets at fair value through profit or loss ("FVTPL") 8,943.4 8,626.0 Other non-current assets 114.7 105.8 Biological assets 1,063.0 1,012.5 Total Non-current Assets 41,635.7 43,246.9 Current Assets Inventories 3,532.1 2,886.1 Contract costs 912.2 695.6 Biological assets 955.5 1,154.6 Amounts due from related parties 89.3 86.7 Trade and other receivables 9,643.7 9,372.7 Contract assets 988.8 1,234.4 Income tax recoverable 87.2 17.5 Financial assets at FVTPL 1,234.0 11.0 Derivative financial instruments - 414.0 Other current assets 734.1 785.8 Pledged bank deposits 22.1 1.6 Term deposits with initial term of over three months 4,865.6 3,761.4 Bank balances and cash 13,434.3 10,001.0 36,498.8 30,422.5 Assets classified as held for sale 2,191.3 - Total Current Assets 38,690.2 30,422.5 Total Assets 80,325.8 73,669.3 Consolidated Statement of Financial Position (continued) [6]– Prepared under IFRS RMB Million December 31, December 31, 2024 2023 Current Liabilities Trade and other payables 7,025.5 7,333.5 Amounts due to related parties 15.3 11.5 Derivative financial instruments 202.0 501.9 Contract liabilities 2,251.0 1,955.4 Bank borrowings 1,278.6 3,721.6 Lease liabilities 224.2 240.5 Income tax payables 870.8 991.9 Convertible bonds 3,493.1 - 15,360.6 14,756.3 Liabilities associated with assets classified as held for sale 865.5 - Total Current Liabilities 16,226.1 14,756.3 Non-current Liabilities Bank borrowings 2,959.5 687.0 Deferred tax liabilities 522.4 530.1 Deferred income 985.6 1,079.9 Lease liabilities 546.6 1,098.6 Total Non-current Liabilities 5,014.1 3,395.6 Total Liabilities 21,240.2 18,151.9
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Nexteer Launches Rear-Wheel Steering: Optimized for Cost-Effectiveness, Durability, Integration & Driver Experiences
AUBURN HILLS, Mich., March 17, 2025 /PRNewswire/ -- Today, Nexteer Automotive announced a Rear-Wheel Steering (RWS) system engineered for cost-effectiveness, lightweighting, durability and seamless integration. Nexteer's RWS is also optimized for enhanced maneuverability, stability, safety and performance – delivering a superior driving experience especially when steering heavier vehicles with long wheelbases such as trucks, SUVs and EVs. The company earned two RWS contracts with a leading Chinese OEM and expects to start production in 2026. ABOUT RWS - MANEUVERABILITY, STABILITY & SAFETY Nexteer's new RWS allows the rear wheels to turn up to 12 degrees in coordination with the front wheels, optimizing handling at both low and high speeds. At lower speeds, RWS reduces the turning radius for potentially challenging maneuvers, such as parking in tight spots, parallel parking, backup events and hitching. RWS also improves vehicle nimbleness during tight cornering and overall city driving. At higher speeds, RWS enhances chassis responsiveness, vehicle stability and safety by improving control during sudden lane changes or evasive maneuvers. It also enhances driver comfort and reduces fatigue especially while towing and trailering. ABOUT NEXTEER'S APPROACH Nexteer strategically designed its RWS to solve industry challenges and leverage its existing technology leadership and building blocks. Following are key highlights: Cost-Effective & Lightweight: Nexteer's RWS design prioritizes cost-effectiveness and lightweighting design principles, enabling OEMs to quickly adopt RWS into vehicle platforms with minimal impact on fuel efficiency or EV range. Reuse & Integration: Also tied to cost-effectiveness, Nexteer's approach offers component and manufacturing process reuse with its industry-leading Rack-assist Electric Power Steering (REPS) systems, as well as easy integration with all vehicle types and potential to simplify rear axle designs. In Steer-by-Wire (SbW) vehicles, RWS may offer additional synergies as RWS could serve as an additional redundancy layer to meet safety requirements. Durable & Reliable: Nexteer's anti-rotation design minimizes friction, enhances strength and supports long-term reliability. Proven & Pioneering: During RWS development, Nexteer pulled from its industry-leading REPS, award-winning SbW, software and vehicle integration expertise, as well as its legacy as a pioneer of RWS-for-mass-production in the early 2000s for GM truck applications (Quadrasteer). Synergies & Compounding Benefits: For longer wheelbases/heavier loads, OEMs can combine RWS with Nexteer's other steering/driveline solutions to compound driver benefits. Nexteer is globally renowned for motion control tailored for larger/heavier vehicle segments. "Nexteer's approach to Rear-Wheel Steering delivers a cost-effective, lightweight and easy-to-integrate solution for OEMs so they can differentiate their drivers' experiences with enhanced maneuverability, stability and comfort across all vehicle types. RWS addresses a convergence of many trends including the growing demand for trucks and SUVs, varying shifts to EVs and growing cities with challenges of urban driving. We're always anticipating market needs and innovating the next motion control solution to make future mobility safer, greener and more exciting," said Robin Milavec, President, Chief Technology Officer, Chief Strategy Officer, and Executive Board Director, Nexteer Automotive. Milavec added that while the team is excited to announce RWS, they are already innovating next-generation enhancements and looking forward to a future announcement. Nexteer will publicly debut RWS in their exhibit at the 2025 Auto Shanghai event April 23–May 2, 2025. ABOUT NEXTEER AUTOMOTIVE Nexteer Automotive (HK 1316) is a global leading motion control technology company accelerating mobility to be safe, green and exciting. Our innovative product and technology portfolio includes electric and hydraulic power steering systems, steer-by-wire systems, steering columns and intermediate shafts, driveline systems and software solutions. The company solves motion control challenges across all megatrends – including electrification, software/connectivity, ADAS/automated driving and shared mobility – for more than 60 customers around the world including BMW, Ford, GM, RNM, Stellantis, Toyota and VW, as well as automakers in India and China including BYD, Chery, Great Wall, Geely, Xpeng and others. www.nexteer.com Link to Nexteer Media Center & Press Kit
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Rona Therapeutics Receives IND Clearance from FDA to Initiate Phase 2 Study of RN0361: an APOC3 Targeted siRNA for Management of Hypertriglyceridemia
SHANGHAI, March 17, 2025 /PRNewswire/ -- Rona Therapeutics Inc., a global leader in RNA-targeted therapeutics, announced the clearance of an Investigational New Drug (IND) by the U.S. Food and Drug Administration (FDA) for RN0361-an APOC3 targeted siRNA (small interfering RNA) therapeutic for severe hypertriglyceridemia (SHTG), mixed dyslipidemia, and familial chylomicronemia syndrome (FCS) treatment. The company plans to advance RN0361 development in HTG patients based on a favorable safety profile and sustained triglyceride (TG) reduction in a 6-month single dose phase 1 clinical trial. The upcoming randomized, double-blind, placebo controlled, multicenter global Ph2 study will evaluate RN0361 efficacy, safety and duration in hypertriglyceridemia patient population for nine-month follow-up period. RN0361 is a potential best-in-class APOC3 target siRNA utilizes Rona's proprietary siRNA conjugate and oligo chemistry platform GAIA to enable robust and durable hepatocyte-specific silencing via subcutaneous administration. The therapy achieves durable gene silencing through optimized chemical modifications, significantly silencing APOC3 mRNA and reducing the expression of APOC3 protein. "This IND submission underscores our commitment to advance transformative RNAi therapies for patients with severe lipid disorders," said Stella Shi, CEO and Founder of Rona Therapeutics. "RN0361's Phase I data validate its potential as a best-in-class siRNA with durable efficacy and patient-friendly dosing. We look forward to collaborating with global investigators and agency to accelerate its development." Dr. Alex M. DePaoli, CMO and EVP of translational medicine, was excited to share: "This Phase 2 study of RN0361 in dysmetabolic patients with hypertriglyceridemia will built on the evidence for RN0361 as an important therapeutic for multiple populations with significant hypertriglyceridemia and its pathologic consequences." He added, "The remarkable potency and durability of triglyceride reduction already seen in the First in Human single dose study offers patients a potential powerful tool in the management of a substantial unmet need." About Rona Therapeutics Rona Therapeutics is a global leader in nucleic acid innovative drug platform company, specializing in the treatment of metabolic and neurological diseases. Rona Therapeutics is always committed to developing the best and first-in-class siRNA drugs with differentiation and innovation to address unmet needs and improve outcome in cardiovascular diseases, obesity, and MASH. In addition, Rona Therapeutics is unlocking the potential of extra-hepatic delivery for neurological disorders and adipose/muscle delivery or various metabolic syndromes.
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Siemens’ Building X Portfolio Manager serves as a single pane of glass for multi-site assets
Siemens Smart Infrastructure is revolutionizing building management for enterprises with the launch of Building X Portfolio Manager, an advanced software-as-a-service application designed to unify real estate, energy, sustainability, and operational data into a single, intelligent solution. The app makes portfolio management across various domains a breeze by seamlessly integrating OT (operational technology), IT (information technology) from enterprise systems as it collates data from sensors, meters, IoT (Internet of Things) devices, and data lakes. This enables portfolio managers, consultants and energy engineers to gain full visibility of all services and operations across multiple sites. These include real-time tracking, automation, and integrated data management to enhance decision-making for different aspects of the building such as energy, water, sustainability, space, environment, parking, occupancy, and more. Part of Siemens Xcelerator, Building X Portfolio Manager combines Artificial Intelligence-driven insights, automation, and cross-domain portfolio management to empower organizations to optimize their infrastructure, reduce emissions, and stay ahead in a rapidly evolving digital landscape. Building X Portfolio Manager is modular and serverless, acting as a single source of truth for portfolio managers of large corporations or facility management companies. It is available to customers with building fleets across different locations and a wide variety of use cases. It can be implemented in commercial buildings, hospitals, universities, business campuses, airports, ports and other building types, allowing portfolio managers to track, manage, and optimize their assets at any given time to reach their goals. Portfolio managers can oversee building performance, energy consumption, and asset utilization across properties. In addition, they can ensure operational efficiency and track maintenance schedules, while optimizing energy and resource use. By monitoring carbon emissions, sustainability metrics, and regulatory compliance corporate sustainability goals can be achieved, while getting insights into operational costs, financial returns, and investment planning for better performance. Ultimately, it empowers portfolio managers to oversee multi-site assets, benchmark performance, and make data-driven decisions through the possibility for data accuracy checks and audit-ready workflows. “At the intersection of the real and the digital worlds, we are accelerating the transformation of buildings – empowering our customers with software and data-driven services that redefine efficiency, sustainability, and innovation across every vertical we serve. The launch of Building X Portfolio Manager is an important step in this direction,” said Susanne Seitz, CEO, Siemens Smart Infrastructure Buildings. Through its Advanced Emissions Reporting and ESG Compliance, the application generates quarterly, half-yearly, and annual emissions audits to support corporate sustainability goals while providing tenant-specific emissions allocation for enhanced transparency and accountability. Building X Portfolio Manager as an extension of the existing Building X application offering, allows seamless data acquisition by working across various data sources, providing a data-source-agnostic, modular, and easy-to-deploy solution. Its dashboards can be configured to cater to different users such as for C-suite executives, sustainability managers, and facility operators. Siemens is currently deploying the Building X Portfolio Manager application across 1,300 of its own sites in 60 countries. It will be available on the market from May 2025. Building X is a digital building platform that supports customers to digitalize, manage, and optimize their building operations, paving the way for sustainable, autonomous, and profitable assets. It is part of Siemens Xcelerator, an open digital business platform that enables customers to accelerate their digital transformation easier, faster and at scale. Building X and other showcases can be seen at the Siemens booth D53 in hall 9 at this year’s Hanover Fair, taking place from March 31 to April 4, 2025, in Hanover, Germany.
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PRYSMIAN AND EDISON ENERGIA SIGN A MULTI-YEAR AGREEMENT FOR THE SUPPLY OF RENEWABLE ENERGY
Prysmian, global cable solution provider leading the energy transition and digital transformation and Edison Energia, an Edison Group company active in the supply of electricity and gas to businesses and families and value-added services to the retail segment, have signed a multi-year Corporate Power Purchase Agreement (PPA) for the supply of 100% renewable energy. The agreement marks an important step forward in Prysmian's commitment to sustainability and reducing its CO2 emissions. Edison Energia will supply Prysmian with approximately 25% of its current annual electricity consumption in Italy. The electricity will be produced by a newly built photovoltaic plant located in Viterbo province, Italy, with a total installed capacity of approximately 150 MWp (Megawatt-peak). Maria Cristina Bifulco, Chief Investor Relations, Sustainability and Communication Officer at Prysmian, commented: “This agreement is an important milestone in our journey in reducing our CO2 emissions. By securing a long-term supply of renewable energy, we are not only enhancing our environmental impact but also benefiting from stable energy costs. This PPA aligns with our broader ESG goals and demonstrates our commitment to leading the energy transition”. Laura Colli, Chief Purchasing Officer at Prysmian, added: “This agreement is a key component of Prysmian’s sourcing strategy, which emphasizes building partnerships with a sustainable supplier base. By securing clean energy sources, we not only ensure a reliable supply chain but also make a positive impact on the environment, contributing to a greener and more sustainable future for the new generations”. Massimo Quaglini, CEO of Edison Energia, said: “The green energy supply agreement signed with Prysmian underlines Edison Energia's commitment to support customers in their decarbonisation journey. We offer our industrial and retail customers both energy produced from renewable sources and our extensive experience as a leading national operator. We focus on quality of service, flexibility and tailor-made contracts. Our goal is to be a trusted partner, leveraging our Group’s assets to guide customers towards sustainable consumption with reduced environmental impact.”
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Chance Pharma Secures New Funding to Accelerate Development of Innovative Inhalation Therapies
HANGZHOU, China, March 17, 2025 /PRNewswire/ -- Chance Pharmaceuticals ("Chance Pharma"), a clinical-stage biotechnology company dedicated to the research and development of innovative inhalation therapies, today announced the successful completion of a new round of financing. Heda Health Fund and Qihang Venture Capital participated in this round. The proceeds will support the advancement of Phase III clinical trials for CXG87, an improved formulation of budesonide/formoterol inhalation powder, as well as the development of several innovative inhalation powder formulations. Lighthouse Capital acted as the exclusive financial advisor for this transaction. Dr. Donghao Chen, Founder and CEO of Chance Pharma, commented, "We are deeply grateful to our investors for their trust and support. This financing marks a pivotal milestone for Chance Pharma as we enter a critical phase. The funding will significantly accelerate the Phase III clinical trials of CXG87, a product with great clinical and commercial potential. Furthermore, it will strengthen our innovative inhaled drug development capabilities, anchored by our proprietary spray-dried formulation platform. Moving forward, we will continue to leverage our unique technological expertise to address unmet clinical needs, foster collaborations with domestic and international partners, and deliver safe, efficacious, and cost-effective treatment options to patients worldwide." About Chance Pharmaceuticals Chance Pharmaceuticals is a clinical-stage biotechnology company dedicated to the research and development of innovative dry powder inhalation (DPI) therapies. The company's pipeline is supported by two core technology platforms: milling and mixing, and spray drying. Its proprietary spray drying platform enables the transformation of biological macromolecules, low-activity drugs, and deep lung/systemic delivery drugs into highly efficient dry powder inhalation formulations. Chance Pharma operates state-of-the-art production facilities compliant with FDA and EMA quality standards, underscoring its strong capabilities in both R&D and manufacturing. Through independent innovation and strategic partnerships, the company is advancing a diverse portfolio of programs targeting respiratory diseases, central nervous system (CNS) disorders, and fibrotic diseases. For more information, please visit www.chancepharmaceuticals.com. Contact Information: Hangzhou Chance PharmaGuobao ZhaoZhaoguobao@chancepharmaceuticals.com+86 571-8630-9565 Goby GlobalBob Aibai@gobyglobal.com+1 646-389-6658
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Solid Innovation For Green Tomorrow: XCMG to Launch New Energy Series and Lineup Over 40 Flagship Products at bauma 2025
MUNICH, March 17, 2025 /PRNewswire/ -- XCMG Machinery ("XCMG", SHE:000425) is set to exhibit a lineup of over 40 construction equipment products and launch a new energy product series at bauma 2025, which will take place in Munich, Germany, from April 7 to 13. XCMG Launch New Energy Series and Lineup Over 40 Flagship Products at bauma 2025 As world's leading trade fair for construction machinery, building material machines, mining machines, construction vehicles and construction equipment, bauma 2025 presents the opportunity for XCMG to showcase its latest innovation achievements, technologies, products and solutions. Themed Solid Innovation for Green Tomorrow, XCMG's grand product lineup includes top models from six major categories of hoisting, excavating, loading and road machineries, aerial work platforms, as well as non-excavating machinery. XCMG will be at booth FS.1005/4 at Messe München. Aspired to become a leading enterprise in low carbon and emission reduction, XCMG is actively carrying out a sustainability roadmap and unswervingly takes the green development path of green innovation, green manufacturing, and green products. Centering on Powered by Green Innovation, XCMG's exhibition at bauma 2025 will debut a green, new energy product series while focusing on integrating the new energy development, financial system and aftermarket development. In light of the future challenges, XCMG is promoting the digital transformation from traditional, single-point and localized informatization to global, full-value-chain and full-business-domain digitalization, improving overseas lean operation capability, and comprehensively enhancing localized service capability, especially the aftermarket services. Since 1992, XCMG has continuously expanded the scale of its exhibition at bauma, contributing the solutions, intelligent innovations and power of XCMG to the global construction machinery industry. Now recognized in over 190 countries and regions, XCMG is making strides in the international market and supporting global infrastructure construction: it's joining hands with Rio Tinto in developing the Simandou iron ore project, the world's largest untapped reserve of high-grade iron ore; the group has set up a West Asia and North Africa value-added service center in UAE; and the export of 100 units of mining equipment to Australia has been the largest order to date. In Europe, XCMG will continue to improve the service system and network, strengthen the service team, carry out professional trainings to break through the service bottlenecks, and at the same time, complete the construction of the German spare parts center, improve the efficiency of spare parts logistics and distribution, as well as management and market responsiveness.
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XCMG HANYUN Deeply Integrates with DeepSeek: Pioneering a New Era of Industrial Intelligence
XUZHOU, China, March 17, 2025 /PRNewswire/ -- XCMG HANYUN, a leader in the industrial internet sector under XCMG Machinery ("XCMG", SHE: 000425), has taken a significant step in industrial intelligence by integrating with DeepSeek. Through this deep integration, XCMG Hanyun and DeepSeek will concentrate on critical areas within the Internet of Vehicles (IoV) sector, including big data analysis, predictive maintenance, and fault pattern databases. Simultaneously, in the smart manufacturing sector, the collaboration will drive innovations in intelligent scheduling, process optimization, and supply chain forecasting. XCMG HANYUN Deeply Integrates with DeepSeek: Pioneering a New Era of Industrial Intelligence Building on DeepSeek's advanced foundational model capabilities, the Hanyun Industrial Internet Platform has implemented a collaborative architecture that integrates large models with specialized models. At its core lies an intelligent data analysis platform powered by multimodal large models. This platform features a deep learning framework and a robust foundational model, with DeepSeek serving as the base model to enhance algorithms and model performance. It autonomously interprets user needs, generates deep learning code, and conducts training and validation, ultimately creating a comprehensive repository of specialized models. Building on this intelligence platform, XCMG HANYUN is driving innovations across two key application areas: Intelligent Connected Vehicles: Enhancing six core scenarios, including big data analytics, intelligent scheduling, equipment prediction, edge computing, smart services, and fault pattern libraries. Smart Manufacturing: Strengthening five critical areas, including intelligent scheduling, production simulation, process optimization, production enhancement, and supply chain forecasting. By continuously refining learning techniques and algorithm capabilities, XCMG HANYUN ensures high-performance applications while optimizing cost efficiency. For example, a single piece of construction machinery generates over 300 operational parameters, such as location, working conditions, hydraulic pressure, and vibrations. Traditionally, modeling for telematics data analysis could take up to two weeks. However, with DeepSeek's foundational model technology, developers can now complete the entire process, from demand analysis and feature engineering to model deployment, through simple interactions. This reduces predictive model development time to just 20 minutes, profoundly improving development and deployment efficiency, turning "what you think is what you get" into reality. By strengthening its capabilities across platforms, edge computing, industrial applications, and ecosystem collaboration, XCMG HANYUN aims to build a more resilient supply chain, advance flexible production, and enhance interactive intelligence. With AI-driven innovation, XCMG HANYUN continues to push the boundaries of industrial productivity, providing a strong driving force for the development of next-generation industrial internet solutions.
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Rizhao green tea: Northern marvel born of sun, sea, unique climate
RIZHAO, China, March 17, 2025 /PRNewswire/ -- A news report from chinadaily.com.cn: In the northern reaches of China, the brisk sea winds and harsh winters have given rise to a remarkable phenomenon – the renowned Rizhao green tea. At 35 degrees north latitude, the direct angle of sunlight gives the Rizhao tea plantations an average of 2,600 hours of sunshine annually. The combination of the salty and humid sea breeze from the Yellow Sea with the undulating terrain of the Yimeng mountainous area creates a distinctive microclimate. Racing against time: Northern tea crafting thrives against the odds At daybreak, the dew-kissed green leaves must undergo a transformation within three hours. The moment the 220 degrees C iron pot begins to release white smoke, the tea master plunges his hand into the midst of the green leaves, tossing them at a rate of two times per second, a 40 percent increase in speed compared to traditional methods in southern China. Additionally, a gentle press and slow kneading take the place of heavy pressure and rapid rolling, preserving the integrity of the bud and leaf while creating the precise cracks in the waxy layer, which is what leads to the tea's signature chestnut fragrance. Moreover, the denizens of Rizhao have repurposed air-raid shelters into constant humidity workshops to combat the capricious coastal climate. The introduction of modern freeze-drying technology further allows the fresh and crisp spring tea to be preserved before the summer deluges. Forged by cold and sea: The natural evolution of Rizhao tea Rizhao's frigid winters activate the cold-resistant genes of the tea trees, while the salt content in the sea mist fortifies the cuticle layer of the leaves. This natural selection process led to a 30 percent increase in the cold resistance of northern tea compared to its southern progenitor. Furthermore, tea trees that have withstood extremely low temperatures exhibit a 22 percent surge in polyphenol content in the subsequent year's spring tea. A taste shaped by the elements Rizhao green tea offers a crisp initial note, a bittersweet mid-palate, and a sweet finish. As the tea broth cools to room temperature, the vapor condenses into delicate golden rings on the cup's inner surface, serving as tangible evidence of the 15 percent higher polyphenol content in northern tea.
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FIC2025：Angel Yeast Leads Health-conscious Trends with China's First Approved Microbial Protein
SHANGHAI, March 17, 2025 /PRNewswire/ -- The 28th FOOD INGREDIENTS CHINA 2025 (FIC2025) took place in Shanghai from March 17-19, drawing the attention of the global food industry to the Asian market. In the face of challenges such as population growth, resource scarcity, and global warming, the concept of "great food" views is emerging as a key solution to address food shortages and nutritional imbalances. Microbial proteins, as a new quality production, are making significant progress in this direction. FIC2025：Angel Yeast Leads Health-conscious Trends with China's First Approved Microbial Protein Angel Yeast(SH600298) made a significant presence at the exhibition, showcasing a matrix of core solutions, ranging from China's first approved microbial protein to the development of functional yeast products. The company's offerings span from natural flavor enhancements to innovative fermentation nutrition elements, presenting a comprehensive industry chain solution to support global health upgrades. Wang Xishan, Deputy General Manager of Angel Yeast, emphasized the importance of the "great food" views in transcending traditional agricultural thinking and expanding to diverse food resources. He highlighted the significance of ecological balance and sustainable development, with microbial proteins aligning with global trends towards sustainability, green environmental practices, and energy efficiency. Wang pointed out that microbial proteins offer a sustainable alternative to traditional animal proteins, addressing the global protein supply shortage. Angel Yeast's introduction of the AnPro®（AngeoPro）yeast protein in 2023 marked a milestone in the field of microbial fermentation, securing China's first approved microbial protein product. With an impressive absorption rate of 92.7% and high digestibility and nutritional balance, AnPro®（AngeoPro) yeast protein is positioned as a high-quality complete protein, catering to diverse nutritional needs such as post-workout recovery and elderly nutrition supplementation. Furthermore, Angel Yeast is expanding its research and development efforts to provide functional yeast products that go beyond basic fermentation raw materials. These initiatives include: Nutrient-enriched yeast products: Developing yeast protein, yeast beta glucan, selenium-rich, and zinc-rich yeast to enter the health food and specialty medical food tracks. Sugar and salt reduction technology: Using YE to enhance the flavor levels of low-sodium and low-sugar foods, catering to the needs of meal replacement and healthy snacks. Synergistic application of probiotics: Combining Saccharomyces Boulardii and yeast beta glucan to expand the matrix of intestinal health products. The company's focus on clean label ingredients, such as yeast extract (YE), as natural flavor enhancers, underscores its commitment to meeting the demand for natural and healthy food options. By leveraging the unique flavor profile of YE products, Angel Yeast aims to enhance the flavor experience of various food products, catering to the evolving preferences of food manufacturers. FIC 2025 serves as a platform for showcasing the transformative trends in the Asian food industry. Angel Yeast's innovative solutions in the realm of microbial proteins exemplify how companies can drive global food system evolution through new quality production, embracing the potential of biotechnology and bio-industry to meet the changing needs of consumers.
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CBAK Energy Reports Full Year of 2024 Unaudited Financial Results
DALIAN, China, March 17, 2025 /PRNewswire/ -- CBAK Energy Technology, Inc. (NASDAQ: CBAT) ("CBAK Energy," or the "Company") a leading lithium-ion battery manufacturer and electric energy solution provider in China, today reported its unaudited financial results for the full year of 2024 ended December 31, 2024. Full Year of 2024 Financial Highlights Net revenues from sales of batteries were $136.59 million, an increase of 2.7% from $132.99 million in the same period of 2023. Net revenues from batteries used in light electric vehicles were $10.32 million, an increase of 84% from $5.61 million in the same period of 2023. Net revenues from batteries used in electric vehicles were $1.68 million, a decrease of 41.67% from $2.88 million in the same period of 2023. Net revenues from residential energy supply & uninterruptible supplies were $124.59 million, an increase of 0.1% from $124.5 million in the same period of 2023. Gross margin for the battery business was 31.5%, an increase of 7.7 percentage points from 23.8% in the same period of 2023. Net income from the battery business was $19.43 million, an increase of 39.08% from $13.97 million in the same period of 2023. Zhiguang Hu, Chief Executive Officer of the Company, stated, "We are pleased to announce a 36.33% increase in gross profit for our battery segment, reaching US$43.05 million. The gross profit margin also expanded significantly to 31.5%. Even more impressively, net income for the battery segment rose to $19.43 million in 2024, reflecting a substantial growth of 39.08%. These exceptional results are particularly noteworthy as they surpass those of many industry competitors, including leading Chinese battery manufacturers, despite the prevailing challenges and downturn in the broader new energy sector. Furthermore, with demand for our Model 32140 exceeding supply, we are actively expanding production capacity to meet this surge. Looking ahead, we are confident in our ability to sustain profitability in the battery segment for the coming year." Jiewei Li, Chief Financial Officer and Secretary of the Board, commented, "While Mr. Hu highlighted the strong performance of our battery segment, our consolidated financial results also showed a remarkable turnaround—from a net loss in 2023 to a net income attributable to shareholders of CBAK Energy of US$11.79 million in 2024. This was achieved despite a modest decline in consolidated net revenues to US$176.61 million, primarily due to the performance of our raw materials production segment, Hitrans. Notably, even with lower consolidated net revenues, we delivered a gross profit margin of 23.65%, representing a significant improvement of 8.13 percentage points compared to last year. These results underscore the robust profitability of our battery segment. We remain confident that the continued growth of this segment will further enhance our consolidated financial performance. Additionally, having fully met all financial obligations to Hitrans, and given that Hitrans' products are not integrated into our supply chain, its financial performance does not materially impact our business, this is why we have focused on reporting the metrics of our battery segment." Full Year of 2024 Financial Results Net revenues[1] were $176.61 million, representing a decrease of 13.61% compared to $204.44 million in the same period of 2023. This decrease was mainly caused by the decrease of net revenues of Hitrans, our acquired raw materials production unit. Among these revenues, detailed revenues from our battery business are: Battery Business 2023 Full Year 2024Full Year % ChangeYoY Net Revenues ($) 132,993,518 136,588,803 2.7 Gross Profits ($) 31,580,168 43,052,991 36.3 Gross Margin 23.75 % 31.5 % - Net Income ($) 13,962,215 19,430,769 39.2 Net Revenues from Battery Business onApplications ($) Electric Vehicles 2,883,385 1,681,651 -41.7 Light Electric Vehicles 5,607,435 10,319,176 84.0 Residential Energy Supply &Uninterruptable supplies 124,502,698 124,587,976 0.1 Total 132,993,518 136,588,803 2.7 [1] Net revenues consist of the Company's self-operated battery business and Hitrans, which was acquiredin 2021, an independently managed raw materials business. Cost of revenues was $134.84 million, representing a decrease of 21.9% from $172.71 million in the same period of 2023. The decrease in the cost of revenues corresponds to the Company's higher gross profit from the battery business. Gross profit was $41.75 million, representing an increase of 31.68% from $31.72 million in the same period of 2023. Gross margin was 23.7%, compared to 15.5% in the same period of 2023. Operating income amounted to $8.79 million, compared to an operating loss of $7.25 million in the same period of 2023. Net income attributable to shareholders of CBAK Energy was $11.79 million, compared to net loss attributable to shareholders of CBAK Energy of $2.45 million in the same period of 2023. Basic and diluted income per share were both $0.13, compared to basic and diluted loss per share of $0.03 in 2023. Conference Call CBAK Energy's management will host an earnings conference call at 8:00 AM U.S. Eastern Time on Monday, March 17, 2025 (8:00 PM Beijing/Hong Kong Time on March 17, 2025). For participants who wish to join our call online, please visit:https://edge.media-server.com/mmc/p/wwi4b3cb Participants who plan to ask questions during the call will need to register at least 15 minutes prior to the scheduled call start time using the link provided below. Upon registration, participants will receive the conference call access information, including dial-in numbers, a unique pin, and an email with detailed instructions. Participant Online Registration:https://register.vevent.com/register/BI71c592a6d5ad484abebbdb4a1710f229 Once completing the registration, please dial-in at least 10 minutes before the scheduled start time of the conference call and enter the personal pin as instructed to connect to the call. A replay of the conference call may be accessed within seven days after the conclusion of the live call at the following website: https://edge.media-server.com/mmc/p/wwi4b3cb The earnings release and the link for the replay are available at ir.cbak.com.cn. About CBAK Energy CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium and sodium batteries, as well as the production of raw materials for use in manufacturing high power lithium batteries. The applications of the Company's products and solutions include electric vehicles, light electric vehicles, energy storage and other high-power applications. In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in Dalian, Nanjing, Shaoxing and Shangqiu, as well as a large-scale R&D and production base in Dalian. For more information, please visit ir.cbak.com.cn. Safe Harbor Statement This press release contains "forward-looking statements" that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," or "will" or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements. Any forward-looking statements contained in this press release are only estimates or predictions of future events based on information currently available to our management and management's current beliefs about the potential outcome of future events. Whether these future events will occur as management anticipates, whether we will achieve our business objectives, and whether our revenues, operating results, or financial condition will improve in future periods are subject to numerous risks. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: significant legal and operational risks associated with having substantially all of our business operations in China, that the Chinese government may exercise significant oversight and discretion over the conduct of our business and may intervene in or influence our operations at any time, which could result in a material change in our operations and/or the value of our securities or could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and could cause the value of such securities to significantly decline or be worthless, the effects of the global Covid-19 pandemic or other health epidemics, changes in domestic and foreign laws, regulations and taxes, the volatility of the securities markets; and other risks including, but not limited to, the ability of the Company to meet its contractual obligations, the uncertain markets for the Company's products and business, macroeconomic, technological, regulatory, or other factors affecting the profitability of our products and solutions that we discussed or referred to in the Company's disclosure documents filed with the U.S. Securities and Exchange Commission (the "SEC") available on the SEC's website at www.sec.gov, including the Company's most recent Annual Report on Form 10-K as well as in our other reports filed or furnished from time to time with the SEC. You should read these factors and the other cautionary statements made in this press release. If one or more of these factors materialize, or if any underlying assumptions prove incorrect, our actual results, performance or achievements may vary materially from any future results, performance or achievements expressed or implied by these forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law. For further inquiries, please contact: In China: CBAK Energy Technology, Inc.Investor Relations DepartmentEmail: ir@cbak.com.cn CBAK Energy Technology, Inc. and Subsidiaries Condensed consolidated Balance Sheets As of December 31, 2023 and 2024 (Unaudited) (In US$ except for number of shares) December 31, December 31, 2023 2024 Assets Current assets Cash and cash equivalents $ 4,643,267 $ 6,724,360 Pledged deposits 54,179,549 54,061,642 Term deposits - 4,237,090 Trade and bills receivable, net 28,653,047 32,938,918 Inventories 33,413,422 22,851,027 Prepayments and other receivables 7,459,254 20,004,966 Receivables from former subsidiary 74,946 12,399 Income tax recoverable - 566,458 Total current assets 128,423,485 141,396,860 Property, plant and equipment, net 91,628,832 85,486,829 Construction in progress 37,797,862 42,526,859 Long-term investments, net 2,565,005 2,246,494 Prepaid land use rights 11,712,704 11,075,973 Intangible assets, net 841,360 382,962 Deposit paid for acquisition of long-term investments 7,101,492 15,864,318 Operating lease right-of-use assets, net 1,084,520 3,237,849 Total assets $ 281,155,260 $ 302,218,144 Liabilities Current liabilities Trade and bills payable $ 82,429,575 84,724,386 Short-term bank borrowings 32,587,676 26,087,350 Other short-term loans 339,552 335,715 Accrued expenses and other payables 41,992,540 58,285,635 Payable to a former subsidiary, net 411,111 419,849 Deferred government grants, current 375,375 556,214 Product warranty provisions 23,870 23,426 Operating lease liability, current 691,992 1,268,405 Finance lease liability, current 1,643,864 - Total current liabilities 160,495,555 171,700,980 Deferred government grants, non-current 6,203,488 7,580,255 Product warranty provisions 522,574 420,688 Operating lease liability, non-current 475,302
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Healthcare Holding Schweiz Acquires Effectum CH-Rep (Switzerland)
Healthcare Holding Schweiz AG, a leading service provider and distributor of medical devices in Switzerland, is expanding its portfolio with the acquisition of Effectum CH-Rep AG. Healthcare Holding Schweiz is managed by Winterberg Advisory GmbH. BAAR, Switzerland, March 17, 2025 /PRNewswire/ -- Healthcare Holding Schweiz AG has successfully completed the acquisition of Effectum CH-Rep AG. This transaction marks a carve-out of all services provided as Swiss Authorized Representative (CH-REP) from Effectum Medical AG. Under the Medical Devices Ordinance (MedDO SR 812.213) effective since May 26, 2021, manufacturers of medical devices without a registered office in Switzerland must appoint a CH-REP to distribute their products within the country. Through this acquisition, Healthcare Holding Schweiz AG strengthens its position as a comprehensive partner for medical technology manufacturers worldwide. With its group of companies, it can now provide integrated services that encompass not only import and distribution but also full compliance with regulatory requirements. Transaction successfully closed, from left to right: Florian Angstmann, MME Legal, Fabio Fagagnini, CEO of Healthcare Holding Schweiz AG, Fabian Kroeher, President of the Board of Healthcare Holding Schweiz AG, Carina Kandrian, Founder of Effectum Medical AG, Michael Eggimann, Board Member of Effectum Medical AG, Philipp Pielmeier, CFO of Healthcare Holding Schweiz AG, Gregory Budakov, Managing Director M&A of Healthcare Holding Schweiz AG Fabio Fagagnini, CEO of Healthcare Holding Schweiz, expressed his enthusiasm for the acquisition: "With Effectum CH-Rep, we are expanding our service portfolio to include the role of Swiss Authorized Representative, thereby strengthening our growing group. This allows our sales representatives and managing directors to focus even more on innovative products and exceptional customer service, with the assurance that all regulatory requirements are being professionally met." Kim Züger, Head of Quality Management & Regulatory Affairs and the newly appointed Director of Effectum CH-Rep, emphasized: "Regulatory compliance is our top priority. Through Effectum CH-Rep, we offer this service not only to suppliers of Healthcare Holding Schweiz but also to numerous other manufacturers—a clear testament to our professionalism and high-quality standards." Michael Eggimann, Board Member of Effectum Medical AG and responsible for the sale of Effectum CH-Rep AG, added: "We have valued working with Fabio Fagagnini and his team for many years and are confident that Effectum CH-Rep is in excellent hands. This transition allows us to fully concentrate on the further development and distribution of our Legal Manufacturing offering as well as our innovative plug-and-play quality management system, while continuing to collaborate closely with Effectum CH-Rep for the benefit of our customers." About Effectum CH-Rep AG Effectum CH-Rep AG, based in Olten, facilitates access for foreign manufacturers of medical devices to the Swiss market by acting as the Swiss Authorized Representative (CH-REP). As a CH-REP, Effectum CH-Rep AG takes on responsibilities such as ensuring compliance with Swiss registration requirements, collaborating with Swissmedic on preventive and corrective actions, providing a Person Responsible for Regulatory Compliance (PRRC), guaranteeing access to technical documentation, and reporting incidents and complaints. About Healthcare Holding Schweiz AG Healthcare Holding Schweiz AG is a Buy, Build & Technologize platform and a leading provider of medical technology products and services in Switzerland. The group is based in Baar and pursues an ambitious growth strategy through acquisitions, often in the context of succession arrangements, partnerships, and organic growth. Healthcare Holding Schweiz and its group companies are committed to the highest standards of innovation and customer satisfaction. The group consistently leverages technology to make business processes safer and more efficient. As a market leader, the company sets new standards for the industry and offers employees attractive development opportunities. All of the management team holds shares in Healthcare Holding Schweiz, thus forming a dynamic community of entrepreneurs. About Winterberg Advisory GmbH and Winterberg Group AG Winterberg Group AG, based in Zug, operates as an independent family office for its founders. Winterberg mainly invests in SMEs in the German-speaking region, and selectively considers investments in startups and real estate. Winterberg Advisory GmbH is a general partner and fund manager regulated by the German BaFin. Winterberg Advisory has launched numerous private equity funds and is invested in Healthcare Holding Schweiz AG through its funds Winterberg Investment VIII and Winterberg Investment IX. The two Partners and Executive Directors, Fabian Kröher and Florian Brickenstein, manage Healthcare Holding Schweiz AG via its board of directors. For press inquiries, please contact presse@healthcare-holding.ch For more information about Dental Axess AG, visit www.effectum-chrep.com For more information about Healthcare Holding Schweiz AG, visit www.healthcare-holding.ch For more information about the portfolio companies of Healthcare Holding, visit www.senectovia.ch, www.winthermedical.ch, www.mikrona.ch, www.orthowalker.ch, www.mcm-medsys.ch, www.naropa-reha.ch, www.mvb-medizintechnik.ch, www.dentalaxess.com This press release is issued and distributed by Winterberg Advisory GmbH on behalf of Healthcare Holding Schweiz AG.
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dsm-firmenich scents the Swiss and Dutch Pavilions at Expo 2025 in Osaka
Presenting bespoke fragrances by Master Perfumer Wessel-Jan Kos and Perfumer Coralie Spicher KAISERAUGST, Switzerland and MAASTRICHT, Netherlands, March 17, 2025 /PRNewswire/ -- dsm-firmenich, innovators in nutrition, health, and beauty, has created unique fragrances for the Swiss and Dutch Pavilions at Expo 2025 Osaka, Kansai, Japan. Running from April 13 to October 13, the World Expo will bring together people and innovations from around the world, in an effort to address issues we face on a global scale. This year's theme, "Designing a Future Society for Our Lives", builds on the concept of providing a laboratory where new technologies and products will be born for a future society. As a company that takes pride in both its Swiss and Dutch roots, dsm-firmenich values this opportunity to lend the creativity of its talented perfumers for this landmark global event. With Expo 2025 taking place in the Asia Pacific region, it is also an opportunity for dsm-firmenich to show its commitment to its Asian customers and consumers. The Swiss Pavilion will take visitors on an immersive and interactive journey through different spheres that showcase collaborative innovation. Entitled "From Heidi to High-Tech", the narrative will reflect Switzerland's evolution from its iconic Alpine heritage to a globally recognized hub of technology and innovation. This year, dsm-firmenich will infuse several areas of the pavilion with exclusive, custom-made scents inspired by, not only the rich Swiss landscape, but also by its vision of the future. Through scent diffusers in each sphere, visitors will be able to smell fragrances inspired by the thematic of each space, such as Lake of Visions and The Magic Lies in You. Born in Geneva, Perfumer Coralie Spicher was the perfect candidate to create these fragrances, given her Swiss heritage. "Switzerland, my childhood country, has always been my olfactive playground and has given me my deepest olfactive memories," shares Coralie. "I grew up between the mountains and the lakes, feeling the duality of the pure air, contrasted with the warmth and comforting smells of the soil, woods, rocks and flowers. There is something that moves me, and I wanted to transcribe this raw aspect of purity in these fragrances. It is really a great honor to represent my beloved Switzerland and share it with the world in Osaka." For her three fragrance creations, Coralie used one of the star ingredients in the dsm-firmenich palette, Helvetolide®, the first ever alicyclic musk, discovered and patented in 1991. "I wanted to use this as a base for all the fragrances, so that there can be a harmony of richness and warmth," she says. "Its volatility adds presence to a fragrance and its aura is felt from top to bottom." Aside from Helvetolide®, Coralie also used ingredients that promote dsm-firmenich's commitment to sustainability, such as Dreamwood® made from biotechnology and Cardamom Guatemala SFE made from upcycled cardamom pods. At the Dutch Pavilion, a man-made sun symbolizes limitless energy from renewable sources. It is a fully-circular pavilion that envisions a "new dawn" in the energy transition – an idea captured by dsm-firmenich's Master Perfumer Wessel-Jan Kos. dsm-firmenich has a long-standing history in the Netherlands. Perfumery Maison Neuve (PMN) is connected to a part of this history through its founders, who also established the first factory in the Delft area, now transformed by dsm-firmenich into an innovation ecosystem, Biotech Campus Delft. Today, they join forces on the development of the Dutch Pavilion's exclusive fragrance for Expo 2025, in the original Delft porcelain blue bottles, and with Wessel-Jan creating the fragrance inside. "The fragrance is called New Dawn, and I built it around a refined blend of white and green tea, supported by a floral accord of jasmine, magnolia and orris, and resting on a smooth foundation of musk and amber," shares Wessel-Jan. "I was inspired by the first Dutch traders who were allowed to enter Japan centuries ago. It was a very isolated country back then, and I wondered how that must have been – the different culture, language, and rituals. I wondered what they would trade, and this made me think of tea, the main theme of the New Dawn fragrance." Only 150 bottles of this limited-edition fragrance will be available during the expo. About dsm-firmenich As innovators in nutrition, health, and beauty, dsm-firmenich reinvents, manufactures, and combines vital nutrients, flavors, and fragrances for the world's growing population to thrive. With our comprehensive range of solutions, with natural and renewable ingredients and renowned science and technology capabilities, we work to create what is essential for life, desirable for consumers, and more sustainable for the planet. dsm-firmenich is a Swiss company with dual headquarters in Kaiseraugst, Switzerland and Maastricht, Netherlands, listed on the Euronext Amsterdam, with operations in almost 60 countries and revenues of more than €12 billion. With a diverse, worldwide team of nearly 30,000 employees, we bring progress to life every day, everywhere, for billions of people. www.dsm-firmenich.com Forward-looking statements This press release may contain forward-looking statements with respect to dsm-firmenich's future performance and position. Such statements are based on current expectations, estimates and projections of dsm-firmenich and information currently available to the company. dsm-firmenich cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance, transaction progress and positions to differ materially from these statements. dsm-firmenich has no obligation to update the statements contained in this press release, unless required by law. This communication contains information that qualifies as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. The English language version of this press release prevails over other language versions.
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Fangzhou Inc.'s H2H Smart Healthcare Platform Honored as one of Guangdong's Premier High-Tech Innovation Products
GUANGZHOU, China, March 17, 2025 /PRNewswire/ -- Fangzhou Inc. ("Fangzhou" or the "Company") (06086.HK), a leader in Internet healthcare solutions, today announced that its proprietary "H2H Smart Healthcare Innovation Platform" has been distinguished as a "2024 Guangdong Province Premier High-Quality and High-Tech Product" by the Guangdong High-Tech Industry Association. This prestigious accolade underscores Fangzhou's pioneering advancements in technological innovation and leadership in shaping the digital healthcare landscape. Dr. Xie Fangmin, founder, chairman, and CEO of Fangzhou, commented, "The H2H platform's inclusion highlights our role in advancing smart healthcare through groundbreaking solutions. Fangzhou looks forward to advancing the Internet healthcare sector toward sustainable and high-impact growth, by intensifying focus on AI-driven healthcare ecosystems, fostering deeper relationships with industry stakeholders." Pursuing Innovation in AI-Powered Healthcare Fangzhou continues to push the boundaries of technological excellence. In 2025, the Company successfully deployed cutting-edge AI models, leveraging DeepSeek-V3 and DeepSeek-R1, through full-scale integration and local deployment. Through its strategic collaboration with Tencent Cloud and Tencent Health, Fangzhou is exploring transformative AI applications across pharmaceutical logistics and healthcare services. AI Assisted Healthcare By harnessing its "AI + H2H Smart Healthcare Ecosystem", Fangzhou's upgraded platform now features four flagship AI-driven modules: AI Physician Assistant, AI Customer Engagement Assistant, AI Procurement Orchestrator, and AI Content Assistant. We believe that these AI enabled applications have the potential significantly enhance efficiency across our platform, ultimately enabling us to deliver an improved user experience for our patients and customers. About Fangzhou Inc. Fangzhou Inc. (06086.HK) is China's leading online chronic disease management platform. With 45.6 million registered users and 217,000 registered doctors on its platform (as of June 30, 2024), the Company provides tailored medical care and precision medicine for a growing population of chronic disease patients. For more details, visit https://investors.jianke.com. About the "Guangdong Province Premier High-Quality and High-Tech Product" Award The "Guangdong Province Premier High-Quality and High-Tech Product" designation celebrates innovations developed by local high-tech enterprises that exemplify proprietary intellectual property, technological sophistication, market leadership, and disruptive potential. Rigorously evaluated by industry experts, award-winning products embody Guangdong's commitment to fostering a globally competitive innovation ecosystem and driving economic advancement through technological leadership. Media Contact For further inquiries or interviews, please reach out to: Xingwei Zhao Associate Director of Public Relations Email: pr@jianke.com Disclaimer: This press release contains forward-looking statements. Actual results may differ materially from those anticipated due to various factors. Readers are cautioned not to place undue reliance on these statements
