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2026-06-25
12:23
VGT: Stable Pricing for High-end PCBs; Order Book Remains Full

In response to recent reports that NVIDIA Corporation (NVDA.US) asked printed circuit board (PCB) suppliers to slash prices by 10%, VGT (02476.HK) stated that raw material prices for its high-end products already in mass production remained stable, and product pricing was relatively steady.

Pricing for new products follows market-oriented principles and will be negotiated with customers based on factors such as manufacturing difficulty of specific product models, market supply and demand, and fluctuations in raw material prices.

VGT added that the company currently has a full order book, with business progressing smoothly. Order production and deliveries are being carried out as scheduled. From a mid-term perspective, supply of high-end products is expected to remain relatively tight, while downstream demand is sufficient to absorb newly added capacity.
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08:15
Micron Quarterly Results Beat; Shares Leap ~16% After Hrs; Nasdaq Futures Up 1.88%

Micron Technology, Inc. (MU.US) reported that for its third fiscal quarter ended May 28, revenue leaped nearly 3.5x to USD41.5 billion, while EPS rose to USD25.11, both beating market expectations. Adjusted gross margin more than doubled to 84.9%, above the expected 81.9%.

Micron’s share price jumped up 15.78% in after-hours trading to USD1,213.96, lifting Nasdaq futures, which last added 1.88%. In Asian markets, South Korea’s KOSPI climbed 5.4% to 8,928.61, while KOSPI 200 futures surged 5%, triggering a circuit breaker and a five-minute halt in program trading.
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AASTOCKS Financial News
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08:00
Joyson Electronics Opens Hong Kong Office to Accelerate Global Expansion and Drive "Auto + Robotics" Dual-Engine Strategy

HONG KONG, June 25, 2026 /PRNewswire/ -- Joyson Electronics (0699.HK / 600699.SH), a leading global provider of smart technology solutions, announced the official opening of its Hong Kong office today. Invited to establish a presence in the city as a strategic enterprise by InvestHK and the Office for Attracting Strategic Enterprises (OASES), Joyson Electronics will leverage this milestone to deepen its global footprint and propel its "Auto + Robotics Tier 1" dual-engine development.

The opening ceremony of Joyson Electronics’ Hong Kong office was attended by numerous distinguished guests from the political and business sectors. Officiating guests include (from left): Mr. Yike Wang, Managing Director of Joyson Electronics Hong Kong; Mr. Xuesong Zhu, Vice Chairman and Non-Executive Director of Joyson Electronics; Dr. Ming Ge, Commissioner for Industry (Innovation and Technology); Mr. Jeff Wang, Founder, Chairman, and Executive Director of Joyson Electronics; Ms. Lillian Cheong, JP, Under Secretary for Innovation, Technology and Industry; Prof. K.C. Chan, Chairman of the Chamber of Hong Kong Listed Companies, former Secretary for Financial Services and the Treasury, and Adjunct Professor and Senior Advisor to the Dean at HKUST Business School; Ms. Junyu Li, Executive Director, Vice President, and CFO of Joyson Electronics; and Mr. Zhiang Chen, Chairman of Ning Shing (Holdings) Co., Ltd.
The opening ceremony of Joyson Electronics’ Hong Kong office was attended by numerous distinguished guests from the political and business sectors. Officiating guests include (from left): Mr. Yike Wang, Managing Director of Joyson Electronics Hong Kong; Mr. Xuesong Zhu, Vice Chairman and Non-Executive Director of Joyson Electronics; Dr. Ming Ge, Commissioner for Industry (Innovation and Technology); Mr. Jeff Wang, Founder, Chairman, and Executive Director of Joyson Electronics; Ms. Lillian Cheong, JP, Under Secretary for Innovation, Technology and Industry; Prof. K.C. Chan, Chairman of the Chamber of Hong Kong Listed Companies, former Secretary for Financial Services and the Treasury, and Adjunct Professor and Senior Advisor to the Dean at HKUST Business School; Ms. Junyu Li, Executive Director, Vice President, and CFO of Joyson Electronics; and Mr. Zhiang Chen, Chairman of Ning Shing (Holdings) Co., Ltd.

Joyson Electronics is a premier global supplier of smart automotive technologies and a core component manufacturer for robotics, ranking as the second-largest in China and fourth globally in smart cockpit domain controllers. The opening ceremony was officiated by Ms. Lillian Cheong, JP, Under Secretary for Innovation, Technology and Industry; Dr. Ming Ge, Commissioner for Industry (Innovation and Technology); Prof. K.C. Chan, Chairman of the Chamber of Hong Kong Listed Companies, former Secretary for Financial Services and the Treasury, and Adjunct Professor and Senior Advisor to the Dean at HKUST Business School; and Mr. Zhiang Chen, Chairman of Ning Shing (Holdings) Co., Ltd.

The officiating guests were joined by Joyson Electronics' senior management, including Mr. Jeff Wang (Founder, Chairman, and Executive Director), Mr. Xuesong Zhu (Vice Chairman and Non-Executive Director), Ms. Junyu Li (Executive Director, Vice President, and CFO), and Mr. Yike Wang (Managing Director of Joyson Electronics Hong Kong). Other notable attendees witnessing this significant moment included representatives from InvestHK and OASES.

Synergizing "AI+" and "Finance+" to Accelerate Global Expansion

The establishment of the Hong Kong office reflects the fruitful collaboration between the Mainland and Hong Kong, highlighting the HKSAR Government's policy of synergizing "AI+" and "Finance+". Following a visit to Joyson's Ningbo headquarters last year, the Innovation, Technology and Industry Bureau (ITIB) proactively invited the company to expand into Hong Kong. Recognizing the city's premier business environment and dual advantages in I&T and capital markets, Joyson successfully listed in Hong Kong late last year. Setting up this office capitalizes on Hong Kong's role as a "super value-adder" under the national "15th Five-Year Plan." The company aims to leverage this platform to enhance global capital operations, optimize financing structures, attract top-tier tech talent, elevate its international brand, and accelerate its globalization strategy.

As a global leader in automotive intelligence and core robotics components, Joyson Electronics boasts strong integrated hardware and software capabilities. Its diverse product portfolio covers autonomous driving, smart cockpits/connectivity, new energy management, and core robotics components. Furthermore, the company is actively extending its automotive technologies into AI server power supplies and optical communications, recently making strategic investments in North American optical module production to capture new global opportunities. Overall, Joyson's core technological focus aligns perfectly with the Transport Department's policies on connected vehicles and autonomous driving, as well as the HKSAR Government's broader "AI+" initiatives.

Looking ahead, Mr. Jeff Wang, Founder, Chairman, and Executive Director of Joyson Electronics, stated at the ceremony: "Today marks a highly strategic milestone in Joyson Electronics' development. As a leader in automotive and robotics components, we provide products and technical services to major automakers and robotics clients worldwide.  Establishing our presence here is a core step in upgrading our global tech strategy. Moving forward, we will use our Hong Kong office as a global strategic hub. By fully leveraging Hong Kong's advantages, its deep pool of international talent, and its highly developed financial system, we will accelerate the Group's global R&D and application of smart connected vehicle technologies. We look forward to forging comprehensive, deep-rooted industry-academic-research partnerships with local universities, research institutes, and government bodies such as the ITIB, OASES, and InvestHK. Together, we aim to contribute Joyson's forward-looking technological expertise to help drive the transformation and growth of Hong Kong's industries."

Prof. K.C. Chan, Chairman of the Chamber of Hong Kong Listed Companies, former Secretary for Financial Services and the Treasury, and Adjunct Professor and Senior Advisor to the Dean at HKUST Business School, stated: "It is a great pleasure to gather here today to witness the grand opening of Joyson Electronics' Hong Kong office. This is not only a major milestone but also a testament to the vitality of Hong Kong's capital market. In recent years, the Hong Kong stock market has welcomed numerous high-quality Mainland enterprises, with Joyson Electronics being a prime example. By establishing a foothold here, Joyson Electronics has enriched Hong Kong's industrial ecosystem and injected new momentum into the local market. This represents not only a strong vote of confidence in Hong Kong but also a visionary step toward the future."

Ms. Lillian Cheong, JP, Under Secretary for Innovation, Technology and Industry, remarked at the ceremony: "I am delighted to attend the opening ceremony of Joyson Electronics' Hong Kong office. On behalf of the Innovation, Technology and Industry Bureau of the HKSAR Government, I extend my warmest congratulations to the company! During my team's visit to Ningbo last year, touring Joyson Electronics' headquarters was a key highlight. Joyson's successful listing in Hong Kong last year brought fresh momentum to our stock market, and today, the official opening of this office brings the company's cutting-edge smart automotive and robotics technologies to our city. I believe this is not only a crucial step in Joyson's globalization strategy but also a strong endorsement of Hong Kong's I&T prospects and a resounding vote of confidence in our future. Hong Kong is currently at a pivotal stage in its I&T development. The HKSAR Government is fully committed to leveraging technology to build a new real economy, driving high-quality growth, and making greater contributions to the country's development as a technological powerhouse. We firmly believe that through the joint efforts of the HKSAR Government and outstanding I&T enterprises like Joyson Electronics, Hong Kong's new industrialization will reach new heights. We look forward to even closer collaboration with Joyson Electronics as we advance our new industrialization and I&T initiatives."

About Joyson Electronics

Joyson Electronics (600699.SH / 699.HK) is a leading global provider of smart technology solutions, specializing in the R&D and manufacturing of automotive electronics, automotive safety systems, and key components for next-generation agents. Joyson operates more than 25 R&D centers and 60 production facilities, and serves over 100 global automotive brands. Revenue reached RMB 61.2 billion in 2025.

Joyson Electronics positions itself as a "Tier 1 supplier for automotive and next-generation agents," providing customers with innovative products in the fields of autonomous driving, intelligent cockpits, car connectivity, E-Mobility, automotive safety, and key components of next-generation agents. It is a leading global supplier of autonomous driving, with its full-stack solutions supporting multi-scenario autonomous driving capabilities from Level 2 to Level 4. Joyson is also the second-largest supplier of intelligent cockpit domain control systems in China and the fourth largest globally.

Additionally, Joyson Electronics has supplied samples or products to companies of next-generation agents worldwide, establishing itself as a leader in the components industry of next-generation agents.

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08:00
均勝電子香港辦公室開幕 加速全球化戰略佈局 全力驅動「汽車+機器人」雙引擎

香港2026年6月25日 /美通社/ -- 全球領先的智能科技解決方案提供商均勝電子(0699.HK / 600699.SH)宣佈,其香港分部辦事處正式開幕。作為受香港投資推廣署及引進重點企業辦公室邀請落戶香港的重點企業,均勝電子將以此為契機,進一步深化全球化戰略佈局,全力驅動「汽車+機器人Tier 1」的雙引擎發展。

均勝電子香港辦公室開幕典禮獲眾多政商界重量級嘉賓出席,主禮嘉賓包括(左起): 均勝電子香港董事總經理王義克先生;均勝電子副董事長兼非執行董事朱雪松先生;創新科技及工業局工業專員(創新及科技)葛明博士;均勝電子創始人、董事長暨執行董事王劍峰先生;⁠創新科技及工業局副局長張曼莉女士,JP;⁠香港上市公司商會主席、前財經事務及庫務局局長、香港科技大學工商管理學院兼任教授及院長資深顧問陳家強教授;均勝電子執行董事、副總裁兼財務總監李俊彧女士;寧興(集團)有限公司董事長⁠陳志昂先生
均勝電子香港辦公室開幕典禮獲眾多政商界重量級嘉賓出席,主禮嘉賓包括(左起): 均勝電子香港董事總經理王義克先生;均勝電子副董事長兼非執行董事朱雪松先生;創新科技及工業局工業專員(創新及科技)葛明博士;均勝電子創始人、董事長暨執行董事王劍峰先生;⁠創新科技及工業局副局長張曼莉女士,JP;⁠香港上市公司商會主席、前財經事務及庫務局局長、香港科技大學工商管理學院兼任教授及院長資深顧問陳家強教授;均勝電子執行董事、副總裁兼財務總監李俊彧女士;寧興(集團)有限公司董事長⁠陳志昂先生

均勝電子是全球領先的智能汽車科技解決方案供應商以及機器人核心部件研發及製造商,公司是中國第二、全球第四大智能座艙域控系統供應商。今天的開幕典禮,大會邀請了創新科技及工業局副局長張曼莉女士,JP;創新科技及工業局工業專員(創新及科技)葛明博士,以及香港上市公司商會主席、前財經事務及庫務局局長、香港科技大學工商管理學院兼任教授及院長資深顧問陳家強教授,以及寧興(集團)有限公司董事長⁠陳志昂先生為活動主禮,並由均勝電子創始人、董事長暨執行董事王劍峰先生,副董事長兼非執行董事朱雪松先生,執行董事、副總裁兼財務總監李俊彧女士,以及均勝電子香港董事總經理王義克先生陪同主持儀式。出席開幕典禮代表包括投資推廣署總裁(運輸及物流 / 工業)王國藩先生、高級副總裁(運輸及物流 / 工業)何雅嫻女士,以及引進重點企業辦公室副總監(先進製造與新能源科技)盧文聰先生等,共同見證此一重要時刻,並為典禮增添光彩。

AI+」與「金融+」相互促進
助力均勝全面提速全球化戰略佈局

均勝電子香港辦公室開幕,正是國家與港政府持續深化合作的豐碩成果,亦充分展現了香港政府「AI+」與「金融+」相互促進的政策導向。去年,創新科技及工業局團隊曾赴寧波考察均勝電子總部,並主動邀請公司前來香港發展。基於對香港優質營商環境的高度認可,以及把握香港在創科發展與資本市場的雙重優勢,均勝電子繼去年底成功在港上市後,今次再進一步在港設立辦事處,正是看準了香港在國家「十五五」規劃下作為「超級增值人」的獨特角色,並充分利用香港平台,增強全球資本運作能力、深化與金融機構的合作以優化融資結構、吸收香港及海外科技型人才、提升國際品牌形象,全面提速均勝電子全球化戰略佈局。

均勝電子在汽車智能化及機器人關鍵部件領域均處於全球領先地位,擁有汽車智能科技領域強大的軟硬件一體化技術優勢,形成智能駕駛、智能座艙/網聯、新能源管理,以及機器人核心部件等豐富產品矩陣。同時,公司還積極推進車端技術向AI伺服器電源與光通信領域橫向拓展,其中,近期已通過戰略投資光模塊北美產能,面向全球市場找尋新業務機會。總體而言,公司核心技術方向契合香港交通運輸署對車聯網、自動駕駛等政策方針,以及港府整體「AI+」的發展方向。

展望未來,均勝電子創始人、董事長暨執行董事王劍峰先生在典禮上表示:「今天,是均勝電子發展歷程中一個極具戰略意義的重要里程碑。均勝電子作為全球汽車與機器人部件領域的領軍企業,為全球主流車企和機器人客戶提供產品與技術服務,此次落戶香港,正是我們全球科創戰略升級的核心一步。未來,我們將以香港辦公室為全球戰略樞紐,充分利用香港的獨特優勢、國際化人才匯聚效應以及發達的金融體系,加速集團在全球智能網聯汽車技術上的研發與應用。我們期盼能與香港本地的高等學府、科研機構以及創科局、引進辦、投資推廣署等政府部門展開全方位、深層次的產學研合作,為香港產業的升級騰飛注入均勝的前瞻科技力量。」

香港上市公司商會主席、前財經事務及庫務局局長、香港科技大學工商管理學院兼任教授及院長資深顧問陳家強教授在開幕典禮上表示:「今天,我們有機會聚首一堂,見證均勝電子香港辦公室的開幕大日子。這不僅是一個重要的里程碑,更是我們香港資本市場蓬勃的寫照。近年香港股市迎來很多優質內地企業,均勝電子是其中很有代表性例子,均勝電子在香港設立據點,豐富了香港的產業生態,也為本地市場注入新動能,這個不只是對香港的信任,也是對未來的遠見。」

創新科技及工業局副局長張曼莉女士,JP在開幕典禮上表示:「非常高興能出席均勝電子香港辦公室的開幕典禮,我謹代表特區政府創新科技及工業局,向均勝電子致以最熱烈的祝賀!回顧去年我和團隊親赴寧波考察,其中一個最重要的行程就是參觀均勝電子總部。去年均勝在香港成功上市,為港股帶來一個新的風潮,今天更迎來了香港辦公室的正式啓用,將均勝最前沿的汽車智能與機器人的技術帶到香港,我相信這不僅是均勝全球化戰略的關鍵一環,更是對香港創科發展前景的有力支持,也是對香港未來發展投下信心的一票。香港正處於創科發展的關鍵期,特區政府將全力以赴,為香港以科技發展打造新的實體經濟,為未來高質量發展,以及為國家的科技強國建設做出更大的貢獻。我們深信在特區政府與均勝電子等優秀創科企業的共同努力之下,香港的新型工業化必將迎來新的騰飛,也希望均勝電子與未來香港的新型工業化創科發展有更多更緊密的合作。」

關於均勝電子

均勝電子(600699.SH / 699.HK)是全球領先的智能科技解決方案提供商,專注於汽車電子、汽車安全及機器人關鍵部件的研發與製造。公司全球設有超過 25 個研發中心和 60 個生產基地,客戶覆蓋超 100 個全球汽車品牌。2025年營業收入達人民幣 612 億元。

均勝電子定位「汽車 + 機器人Tier1」,向客戶提供智能駕駛、智能座艙、智能網聯、新能源管理、汽車安全以及機器人關鍵部件領域的創新產品。公司是全球智能駕駛頭部供應商,其全棧解決方案可支持實現 L2 到 L4 級別的多場景自動駕駛功能;公司也是中國第二、全球第四大智能座艙域控系統供應商。此外,均勝電子亦已向國內外知名機器人公司送樣或供貨,是全球機器人部件行業的領先者。

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06:00
Trip.com Group Limited Reports Unaudited First Quarter of 2026 Financial Results

SINGAPORE, June 25, 2026 /PRNewswire/ -- Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) ("Trip.com Group" or the "Company"), a leading global one-stop travel service provider of accommodation reservation, transportation ticketing, packaged tours, and corporate travel management, today announced its unaudited financial results for the first quarter of 2026.

Key Highlights for the First Quarter of 2026 and Preliminary Outlook for the Second Quarter of 2026

  • Trip.com Group reported solid financial results in the first quarter of 2026
    - Total net revenues increased by 17% year-over-year to RMB16.2 billion (US$2.4 billion), primarily driven by resilient travel demand.
  • International business sustained robust growth across all segments in the first quarter of 2026
    - Gross bookings on the Company's international platform increased by approximately 65% year-over-year.
    - Inbound travel bookings surged by approximately 90% year-over-year.
  • For the second quarter of 2026, the Company expects year-over-year total net revenue growth to decelerate to approximately 3%–8%, with a corresponding impact on margins and bottom-line results

"Inbound travel continues to gain momentum, creating meaningful opportunities across the travel value chain and contributing to local economic development," said James Liang, Executive Chairman. "Through continued investment in technology, product innovation, and destination enablement, we help improve connectivity between global travelers and local services. We remain committed to strengthening destination readiness and ecosystem connectivity, helping unlock the full potential of inbound travel and create long-term value for all stakeholders. As travel continues to evolve, we remain optimistic about the industry's future and committed to serving as a trusted partner for its long-term development."

"The travel market remained resilient in the first quarter of 2026, supported by continued growth in international travel demand and rising interest in more personalized travel experiences," said Jane Sun, Chief Executive Officer. "To meet these evolving needs, we have worked closely with local partners to make travel more accessible and seamless. Through technology, AI-powered solutions, and targeted destination initiatives, we help travelers overcome language and information barriers while enabling more suppliers to connect with global demand, including many participating in international travel for the first time. Looking ahead, we will continue to strengthen our partner ecosystem and help more destinations and suppliers benefit from the growth of international travel."

First Quarter of 2026 Financial Results and Business Updates

For the first quarter of 2026, Trip.com Group reported total net revenues of RMB16.2 billion (US$2.4 billion), representing a 17% increase from the same period in 2025, primarily driven by resilient travel demand. Total net revenues for the first quarter of 2026 increased by 5% from the previous quarter, primarily due to seasonality.

Accommodation reservation revenue for the first quarter of 2026 was RMB6.5 billion (US$944 million), representing a 17% increase from the same period in 2025, primarily driven by an increase in accommodation reservations. Accommodation reservation revenue for the first quarter of 2026 increased by 4% from the previous quarter, primarily due to seasonality.

Transportation ticketing revenue for the first quarter of 2026 was RMB6.1 billion (US$877 million), representing a 12% increase from the same period in 2025, primarily driven by an increase in transportation reservations. Transportation ticketing revenue for the first quarter of 2026 increased by 13% from the previous quarter, primarily due to seasonality.

Packaged-tour revenue for the first quarter of 2026 was RMB1.1 billion (US$164 million), representing a 19% increase from the same period in 2025, primarily driven by an increase in packaged-tour reservations. Packaged-tour revenue for the first quarter of 2026 increased by 7% from the previous quarter, primarily due to seasonality.

Corporate travel revenue for the first quarter of 2026 was RMB690 million (US$100 million), representing a 20% increase from the same period in 2025, primarily driven by an increase in corporate travel reservations. Corporate travel revenue for the first quarter of 2026 decreased by 15% from the previous quarter, primarily due to seasonality.

Cost of revenue for the first quarter of 2026 increased by 23% to RMB3.3 billion (US$483 million) from the same period in 2025 and increased by 3% from the previous quarter, which was generally in line with the fluctuations in total net revenues from the respective periods. Cost of revenue as a percentage of total net revenues was 21% for the first quarter of 2026.

Product development expenses for the first quarter of 2026 increased by 15% to RMB4.1 billion (US$589 million) from the same period in 2025 and increased by 1% from the previous quarter, primarily due to the increase in product development personnel related expenses. Product development expenses as a percentage of total net revenues were 25% for the first quarter of 2026.

Sales and marketing expenses for the first quarter of 2026 increased by 25% to RMB3.7 billion (US$543 million) from the same period in 2025 and decreased by 15% from the previous quarter, primarily due to the fluctuations in expenses relating to sales and marketing promotion activities. Sales and marketing expenses as a percentage of total net revenues were 23% for the first quarter of 2026.

General and administrative expenses for the first quarter of 2026 increased by 8% to RMB1.1 billion (US$163 million) from the same period in 2025 and decreased by 6% from the previous quarter. General and administrative expenses as a percentage of total net revenues were 7% for the first quarter of 2026.

Income tax expense for the first quarter of 2026 was RMB893 million (US$129 million), compared to RMB638 million for the same period in 2025 and RMB835 million for the previous quarter. The change in Trip.com Group's effective tax rate was primarily due to the combined impacts of changes in respective profitability of its subsidiaries with different tax rates, changes in deferred tax liabilities relating to withholding tax, certain non-taxable income or loss resulting from the fair value changes in equity securities investments and exchangeable senior notes recorded in other income, and changes in valuation allowance provided for deferred tax assets.

Net income for the first quarter of 2026 was RMB2.5 billion (US$367 million), compared to RMB4.3 billion for the same period in 2025 and RMB4.3 billion for the previous quarter. Adjusted EBITDA for the first quarter of 2026 was RMB4.8 billion (US$701 million), compared to RMB4.2 billion for the same period in 2025 and RMB3.4 billion for the previous quarter.

Net income attributable to Trip.com Group's shareholders for the first quarter of 2026 was RMB2.5 billion (US$363 million), compared to RMB4.3 billion for the same period in 2025 and RMB4.3 billion for the previous quarter. Excluding share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes recorded in other income, and their tax effects, non-GAAP net income attributable to Trip.com Group's shareholders for the first quarter of 2026 was RMB3.9 billion (US$568 million), compared to RMB4.2 billion for the same period in 2025 and RMB3.5 billion for the previous quarter.

Diluted earnings per ordinary share and per ADS was RMB3.67 (US$0.53) for the first quarter of 2026. Excluding share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes recorded in other income, and their tax effects, non-GAAP diluted earnings per ordinary share and per ADS was RMB5.73 (US$0.83) for the first quarter of 2026. Each ADS currently represents one ordinary share of the Company.

As of March 31, 2026, the balance of cash and cash equivalents, restricted cash, short-term investment, and held to maturity time deposit and financial products was RMB104.0 billion (US$15.1 billion).

Recent Development

The Company is and has been the subject of investigations or inquiries by national authorities regarding competition law matters, consumer protection issues, and other areas. While the Company is unable to predict the outcome of any current or future investigations, litigation or inquiries, it remains focused on maintaining robust compliance and governance standards.

In January 2026, the Company received a notice of investigation from the State Administration for Market Regulation ("SAMR") that it had commenced an investigation into whether the Company has abused or is abusing a dominant market position to engage in monopolistic conduct pursuant to the PRC Anti-Monopoly Law. As of the date of this press release, the Company is fully cooperating with the SAMR in its ongoing investigation, including by actively providing supplementary information and documentation, and will continue to engage constructively with the SAMR on compliance with regulatory requirements. Although the Company is currently unable to predict the timing, outcome or consequences of the investigation, or estimate the possible loss, that may be associated with it, the Company will continue to monitor developments closely. The SAMR's investigation findings could directly result in a significant fine, other financial penalties and/or changes to the Company's business practices and may have a material adverse effect on the Company's consolidated financial position, results of operations, or cash flows. The Company remains committed to continuously reviewing its business practices while providing high-quality products and services to users and partners worldwide.

Business Outlook

For the second quarter of 2026, the Company expects net revenue to grow by approximately 3%–8% year -over-year. Compared with the first quarter, the slower pace of growth is expected to have a corresponding impact on margins and bottom-line results. This reflects direct and indirect impacts from macro headwinds such as elevated energy pricing and geopolitical volatility, alongside operational adjustments the Company implemented to align with evolving industry standards and compliance frameworks. This forecast represents Trip.com Group's current and preliminary view based on the information available to it as of the date of this press release, and is subject to change and may be different from the second quarter financial results to be published in-due-course.

Conference Call

Trip.com Group's management team will host a conference call at 8:00 PM on June 24, 2026, U.S. Eastern Time (or 8:00 AM on June 25, 2026, Hong Kong Time) following this announcement.

The conference call will be available live on Webcast and for replay at: https://investors.trip.com. The call will be archived for twelve months on our website.

All participants must pre-register to join this conference call using the Participant Registration link below:
https://register-conf.media-server.com/register/BI474cf1d2cafe4883828d22dcfc4b7d15.

Upon registration, each participant will receive details for this conference call, including dial-in numbers and a unique access PIN. To join the conference, please dial the number provided, enter your PIN, and you will join the conference instantly.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "may," "will," "expect," "anticipate," "future," "intend," "plan," "believe," "estimate," "is/are likely to," "confident," or other similar statements. Among other things, quotations from management in this press release, as well as Trip.com Group's strategic and operational plans, contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, severe or prolonged downturn in the global or Chinese economy, general declines or disruptions in the travel industry, volatility in the trading price of Trip.com Group's ADSs or shares, Trip.com Group's reliance on its relationships and contractual arrangements with travel suppliers and strategic alliances, failure to compete against new and existing competitors, failure to successfully manage current growth and potential future growth, risks associated with any strategic investments or acquisitions, seasonality in the travel industry in the relevant jurisdictions where Trip.com Group operates, failure to successfully develop Trip.com Group's existing or future business lines, damage to or failure of Trip.com Group's infrastructure and technology, loss of services of Trip.com Group's key executives, adverse changes in economic and business conditions in the relevant jurisdictions where Trip.com Group operates, any regulatory developments in laws, regulations, rules, policies or guidelines applicable to Trip.com Group, any investigation, enforcement or legal/administrative proceeding against Trip.com Group in connection with its business operation and other risks outlined in Trip.com Group's filings with the U.S. Securities and Exchange Commission or the Stock Exchange of Hong Kong Limited. All information provided in this press release and in the attachments is as of the date of the issuance, and Trip.com Group does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About Non-GAAP Financial Measures

To supplement Trip.com Group's consolidated financial statements, which are prepared and presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), Trip.com Group uses non-GAAP financial information related to adjusted net income attributable to Trip.com Group Limited, adjusted EBITDA, adjusted EBITDA margin, and adjusted diluted earnings per ordinary share and per ADS, each of which is adjusted from the most comparable GAAP result to exclude the share-based compensation charges that are not tax deductible, fair value changes of equity securities investments and exchangeable senior notes recorded in other income, net of tax, and other applicable items. Trip.com Group's management believes the non-GAAP financial measures facilitate better understanding of operating results from quarter to quarter and provide management with a better capability to plan and forecast future periods.

Non-GAAP information is not prepared in accordance with GAAP, does not have a standardized meaning under GAAP, and may be different from non-GAAP methods of accounting and reporting used by other companies. The presentation of this additional information should not be considered a substitute for GAAP results. A limitation of using non-GAAP financial measures is that non-GAAP measures exclude share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes recorded in other income, and their tax effects that have been and will continue to be significant recurring expenses in Trip.com Group's business for the foreseeable future.

Reconciliations of Trip.com Group's non-GAAP financial data to the most comparable GAAP data included in the consolidated statement of operations are included at the end of this press release.

About Trip.com Group Limited

Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) is a leading global one-stop travel platform, integrating a comprehensive suite of travel products and services and differentiated travel content. It is the go-to destination for many travelers in Asia, and increasingly for travelers around the world, to explore travel, get inspired, make informed and cost-effective travel bookings, enjoy hassle-free on-the-go support, and share travel experience. Founded in 1999 and listed on Nasdaq in 2003 and HKEX in 2021, the Company currently operates under a portfolio of brands, including Ctrip, Qunar, Trip.com, and Skyscanner, with the mission "to pursue the perfect trip for a better world."

For further information, please contact:

Investor Relations
Trip.com Group Limited
Email: [email protected]

 

Trip.com Group Limited







Unaudited Consolidated Balance Sheets







(In millions, except share and per share data)


















December 31, 2025


March 31, 2026


March 31, 2026


RMB (million)

RMB (million)

USD (million)



















ASSETS








Current assets:








Cash, cash equivalents and restricted cash


46,451


57,124


8,281


Short-term investments


32,007


23,892


3,464


Accounts receivable, net 


15,241


16,294


2,362


Prepayments and other current assets 


27,351


25,990


3,768










Total current assets


121,050


123,300


17,875










Property, equipment and software


5,445


5,660


820


Intangible assets and land use rights


13,013


12,979


1,882


Right-of-use asset


881


835


121


Investments (Includes held to maturity time deposit

 and financial products of RMB27,302 million and

RMB22,951 million as of December 31,2025 and

March 31, 2026, respectively)


61,375


54,791


7,943


Goodwill


62,268


62,222


9,020


Other long-term assets


600


492


71


Deferred tax asset


2,755


2,934


425










Total assets


267,387


263,213


38,157










LIABILITIES








Current liabilities:








Short-term debt and current portion of long-term debt


19,335


20,087


2,912


Accounts payable


19,150


19,987


2,897


Advances from customers


18,185


18,917


2,742


Other current liabilities


21,499


21,605


3,132


Total current liabilities


78,169


80,596


11,683










Deferred tax liability


3,949


4,091


593


Long-term debt


11,430


10,742


1,557


Long-term lease liability


585


542


79


Other long-term liabilities


654


519


75










Total liabilities


94,787


96,490


13,987










MEZZANINE EQUITY


131


136


20










SHAREHOLDERS' EQUITY
















Total Trip.com Group Limited shareholders' equity


170,818


165,000


23,920










Non-controlling interests


1,651


1,587


230










Total shareholders' equity


172,469


166,587


24,150










Total liabilities, mezzanine equity and

shareholders' equity


267,387


263,213


38,157

 

Trip.com Group Limited









Unaudited Consolidated Statements of Income







(In millions, except share and per share data)




















Quarter ended


Quarter ended


Quarter ended


Quarter ended


March 31, 2025


December 31, 2025


March 31, 2026


March 31, 2026


RMB (million)


RMB (million)


RMB (million)


USD (million)





























Net Revenues:










Accommodation reservation 


5,541


6,287


6,510


944


Transportation ticketing 


5,418


5,368


6,050


877


Packaged-tour 


947


1,056


1,130


164


Corporate travel


573


808


690


100


Others


1,351


1,879


1,828


265


Total net revenues


13,830


15,398


16,208


2,350












Cost of revenue


(2,705)


(3,240)


(3,330)


(483)


Product development *


(3,525)


(4,028)


(4,062)


(589)


Sales and marketing *


(2,999)


(4,398)


(3,747)


(543)


General and administrative *


(1,038)


(1,198)


(1,124)


(163)












Income from operations


3,563


2,534


3,945


572












Interest income 


640


679


563


82


Interest expense


(286)


(115)


(115)


(17)


Other income


1,137


2,038


176


26












Income before income tax

expense and equity in loss of

affiliates


5,054


5,136


4,569


663












Income tax expense


(638)


(835)


(893)


(129)


Equity in loss of affiliates


(102)


(28)


(1,151)


(167)












Net income


4,314


4,273


2,525


367












Net (income)/loss attributable to

non-controlling interests and

mezzanine classified non-

controlling interests


(37)


18


(19)


(3)


Accretion to redemption value of

redeemable non-controlling

interests


-


(10)


(7)


(1)












Net income attributable to

Trip.com Group Limited


4,277


4,281


2,499


363












Earnings per ordinary share 










- Basic


6.48


6.53


3.85


0.56


- Diluted


6.09


6.11


3.67


0.53












Earnings per ADS 










- Basic


6.48


6.53


3.85


0.56


- Diluted


6.09


6.11


3.67


0.53












Weighted average ordinary

shares outstanding 










- Basic


660,203,576


655,910,664


648,991,284


648,991,284


- Diluted


702,144,923


700,452,261


681,679,206


681,679,206












* Share-based compensation included in expenses above is as follows:






  Product development 


220


304


363


53


  Sales and marketing 


41


67


66


10


  General and administrative 


219


293


262


38

 

Trip.com Group Limited









Unaudited Reconciliation of  GAAP and Non-GAAP Results









(In millions, except %, share and per share data)






















Quarter ended


Quarter ended


Quarter ended


Quarter ended


March 31, 2025


December 31, 2025


March 31, 2026


March 31, 2026


RMB (million)


RMB (million)


RMB (million)


USD (million)





























Net income


4,314


4,273


2,525


367


Less: Interest income


(640)


(679)


(563)


(82)


Add: Interest expense


286


115


115


17


Less: Other income


(1,137)


(2,038)


(176)


(26)


Add: Income tax expense


638


835


893


129


Add: Equity in loss of affiliates


102


28


1,151


167


Income from operations


3,563


2,534


3,945


572


Add: Share-based compensation


480


664


691


101


Add: Depreciation and amortization


204


217


194


28


Adjusted EBITDA


4,247


3,415


4,830


701


Adjusted EBITDA margin


31 %


22 %


30 %


30 %












Net income attributable to Trip.com Group Limited


4,277


4,281


2,499


363


Add: Share-based compensation


480


664


691


101


Add: (Gain)/loss from fair value changes of equity securities

investments and exchangeable senior notes


(526)


(1,673)


876


127


Add: Tax effects on fair value changes of equity securities

investments and exchangeable senior notes


(43)


212


(161)


(23)


Non-GAAP net income attributable to Trip.com Group

Limited


4,188


3,484


3,905


568


Weighted average ordinary shares outstanding-
 Diluted-non GAAP 


702,144,923


700,452,261


681,679,206


681,679,206


Non-GAAP Diluted income per share 


5.96


4.97


5.73


0.83


Non-GAAP Diluted income per ADS 


5.96


4.97


5.73


0.83












Notes for all the condensed consolidated financial schedules

presented:




















Note 1: The conversion of Renminbi (RMB) into U.S. dollars (USD) is based on the certified exchange rate of USD1.00=RMB6.8980 on March 31, 2026 published by

the Federal Reserve Board.

 

Information Provided by PR Newswire [Disclaimer]
2026-06-24
17:58
Ping An Good Doctor CEO He Mingke Speaks At 2026 Summer Davos: China Is Entering Its Own "Longevity Era"

HONG KONG and SHANGHAI, June 24, 2026 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. ("Ping An" or the "Group"; HKEX: 2318/82318; SSE: 601318) attended the World Economic Forum's 17th Annual Meeting of the New Champions, also known as Summer Davos 2026, convened at the Dalian International Conference Center on 23 June, 2026. This year's forum brought together more than 1,700 representatives from over 90 countries and regions to discuss cutting-edge topics related to global economy, technology, and social development. Among the key topics were ageing population and the sustainable development of a longevity society.

Ping An Good Doctor CEO He Mingke Speaks At 2026 Summer Davos: China Is Entering Its Own “Longevity Era”
Ping An Good Doctor CEO He Mingke Speaks At 2026 Summer Davos: China Is Entering Its Own “Longevity Era”

He Mingke, CEO of Ping An Healthcare and Technology Company Limited ("Ping An Good Doctor"; HKEX: 1833), the flagship of Ping An Group's health and senior care ecosystem, shared insights on Ping An's full-cycle health and longevity management solutions under its "integrated finance + health and senior care" strategy, with a focus on population aging and the sustainable development of a longevity society.

Ping An Good Doctor to Launch Health Longevity Index and Upgrade Longevity Management Services

"China is entering its own 'longevity era', and the focus of population health management is shifting from simply extending lifespan to extending healthy lifespan. The average life expectancy of Chinese residents is now close to 79 years, while healthy life expectancy remains below 69 years, leaving a health deficit of approximately 10 years. Traditional passive healthcare and post-incident claims settlement alone are no longer sufficient to meet the health needs arising from longevity. What is needed is more proactive health management, with earlier intervention to delay functional decline, reduce the risk of disability, and help more people maintain good health over a longer life course," said He Mingke, CEO of Ping An Healthcare and Technology Company Limited.

Based on this insight, Ping An Good Doctor will jointly release white paper titled Centenarian Health Standards: From Passive Healthcare to a Proactive Health Paradigm with the Asia-Pacific Longevity Medicine Society, and will take the lead in launching the "China Health Longevity Index (CHLI)". Ping An Good Doctor will also upgrade the "Ping An Longevity Management Service System", promoting the shift of health management from fragmented wellness practices to systematic management, and from "treating illness and providing elderly care" to "healthy aging".

Advancing the "Integrated Finance + Health and Senior Care" Strategy

In recent years, Ping An has continued to advance its "integrated finance + health and senior care" strategy, with the upgrade of the "Ping An Longevity Management Service System" serving as a key customer-centric initiative. It is designed to promote deeper synergy between financial protection and health and senior care services, transforming insurance policies into more frequent, heartwarming companionship and helping customers enjoy healthier, higher quality lives.

Since 2026, Ping An has launched a range of services, including AI-powered Express Service, which enables customers to "get things done with one sentence", its Global Emergency Assistance service, which enables customers to "respond to emergencies with one button", and "Ping An Home-based Services". These initiatives reflect Ping An's active response to customers' evolving needs in financial services, travel safety, health, and senior care. Looking ahead, the Group will continue to deepen its "integrated finance + health and senior care" strategy, further advance the "finance + services" model and product innovation, and bring greater wellbeing to more families through Ping An's services.

- End -

About Ping An Insurance (Group) Company of China, Ltd.

Ping An Insurance (Group) Company of China, Ltd. (HKEX:2318 / 82318; SSE:601318) is one of the largest financial services companies in the world. It strives to become a world-leading provider of integrated finance, health and senior care services. Under the technology-enabled "integrated finance + health and senior care" dual-pronged strategy, the Group provides professional "financial advisory, family doctor, and senior care concierge" services to its over 250 million retail customers. Ping An advances intelligent digital transformation and employs technologies to improve financial businesses' quality and efficiency and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of December 2025, Ping An had more than RMB13 trillion in total assets. The Group ranked 27th in the Forbes Global 2000 list in 2025, 47th in the Fortune Global 500 list in 2025, and ranked AAA in MSCI ESG Ratings in 2025.

For more information, please visit the www.group.pingan.com and follow our LinkedIn page - PING AN.

Information Provided by PR Newswire [Disclaimer]
15:50
雲頂新耀與海南合瑞就耐賦康®相關專利達成諒解並開展商業化合作

上海2026年6月24日 /美通社/ -- 雲頂新耀(HKEX 1952.HK)是一家專注於創新藥研發、臨床開發、製造及商業化的生物製藥公司,今日宣佈,自耐賦康®上市以來惠及了廣大的IgA腎病患者,為進一步擴大患者用藥可及性,公司與海南合瑞製藥股份有限公司(以下簡稱「海南合瑞」)就耐賦康®(布地奈德腸溶膠囊)相關專利達成諒解,並就海南合瑞於2025年12月獲得中國國家藥品監督管理局批准的布地奈德腸溶膠囊開展商業化合作。

根據本次合作,海南合瑞的布地奈德腸溶膠囊將獲准在中國大陸市場上市,由雲頂新耀負責其商業化。雲頂新耀將對海南合瑞的生產及供應進行嚴格的技術指導與質量審計。該合作將有助於提升患者對耐賦康®與海南合瑞布地奈德腸溶膠囊的用藥選擇。本次合作需滿足慣例交割條件後方可生效。

關於耐賦康®(NEFECON®

耐賦康®(NEFECON®)是布地奈德腸溶膠囊,作為全球首個對因治療IgA腎病的藥物,是靶向腸道黏膜B細胞的免疫調節劑,能減少50%腎功能下降[1],在中國人群中能延緩腎功能衰退達66%[2],預計將疾病進展至透析或腎移植的時間延緩12.8年[3]。同時布地奈德首過代謝率達90%[4],具有良好的安全性。耐賦康®專為IgA腎病患者研製,每顆膠囊含布地奈德4mg,通過特殊的遲釋及緩釋雙重制劑工藝,將布地奈德三層包衣微丸靶向釋放於迴腸末端的黏膜B細胞(包括派爾集合淋巴結),三層包衣微丸持續穩定釋放布地奈德,高濃度覆蓋整個靶區域,從而減少誘發IgA腎病的半乳糖缺陷的IgA1(Gd-IgA1)產生,進而干預發病機制上游階段,達到治療IgA腎病的作用。

2019年6月,雲頂新耀與Calliditas Therapeutics 簽訂獨家授權許可協議,獲得在大中華地區和新加坡開發以及商業化耐賦康®的權利。該協議於2022年3月擴展,將韓國納入雲頂新耀的授權許可範圍。

關於雲頂新耀

雲頂新耀是一家專注於創新藥研發、臨床開發、製造和商業化的生物製藥公司,致力於滿足全球市場尚未滿足的醫療需求。雲頂新耀的管理團隊在中國及全球領先製藥企業擁有深厚的專長和豐富的經驗。公司在浙江嘉善擁有具備商業化規模的全球生產基地,並依據中國、美國及歐盟標準建立了完善的GMP生產質量管理體系。

公司聚焦自身免疫、眼科、急重症及CKM(心血管、腎臟及代謝)等疾病治療領域,已打造集全渠道商業化體系與藥品全生命週期商業化能力於一體的商業化平台,並以擁有全球權益的自研mRNA平台為基礎,持續推進mRNA in vivo CAR-T與mRNA腫瘤疫苗等現有管線,同時通過引進及生態孵化潛力平台,拓展研發能力,同時強化全球化佈局,加快國際化發展進程。更多信息,請訪問公司官網:www.everestmedicines.com

前瞻性聲明
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參考文獻

1.Lafayette R,et al. Lancet. 2023 Sep 9;402(10405):859-870.

2. Zhang H, et al. Kidney360. 2024 Dec 1;5(12):1881-1892.

3.Jonathan Barratt,et al. 2023 ASN. Poster no. SA-PO886.

4.Edsbäcker S,et al. Aliment Pharmacol Ther. 1999 Feb;13(2):219-24.

 

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15:07
Everest Medicines and Hainan Herui have entered into a commercialization collaboration relating to Hainan Herui's budesonide enteric capsules

SHANGHAI, June 24, 2026 /PRNewswire/ -- Everest Medicines (HKEX 1952.HK, "Everest", or the "Company"), a biopharmaceutical company focused on the discovery, clinical development, manufacturing, and commercialization of innovative therapeutics, today announced that Everest Medicines and Hainan Herui have entered into a commercialization collaboration relating to Hainan Herui's budesonide enteric capsules, which were approved by the National Medical Products Administration (NMPA) in December 2025.

Pursuant to this collaboration, Hainan Herui's budesonide enteric capsules will be permitted to be launched in the Chinese mainland market, with Everest Medicines responsible for their commercialization. Everest Medicines will provide rigorous technical guidance and quality audits over Hainan Herui's manufacturing and supply processes. This collaboration is expected to enhance patient access to the combined franchise of NEFECON® and Hainan Herui's budesonide enteric capsules. This collaboration is subject to the satisfaction of customary closing conditions.

About NEFECON®

NEFECON® is an oral, delayed release formulation of budesonide, a corticosteroid with potent glucocorticoid activity and weak mineralocorticoid activity that undergoes substantial first pass metabolism. NEFECON® was designed as a 4 mg delayed release capsule and is enteric coated so that it would remain intact until it reaches the ileum. Each capsule contains coated beads of budesonide that target mucosal B-cells present in the ileum, including the Peyer's patches, which are responsible for the production of galactose-deficient IgA1 antibodies (Gd-IgA1) causing IgA nephropathy.

NEFECON® was approved in November 2023 through National Medical Products Administration (NMPA)'s priority review for the treatment of primary IgA nephropathy in adults at risk of disease progression. It was subsequently included in the National Reimbursement Drug List in November 2024, and received full approval from the NMPA in April 2025, irrespective of proteinuria levels, benefiting most individuals living with IgA nephropathy.

It has been approved across all Everest Medicines' territories, including mainland China, Hong Kong SAR, Macau SAR, Taiwan region, China, as well as Singapore and South Korea.

About Everest Medicines

Everest Medicines is a biopharmaceutical company focused on discovering, developing, manufacturing and commercializing innovative pharmaceutical products that address critical unmet medical needs for patients in global markets. The management team of Everest Medicines has deep expertise and an extensive track record both in China and with leading global pharmaceutical companies.

The Company's therapeutic areas of focus include CKM (cardiovascular, kidney, and metabolic), autoimmune, ophthalmology and critical care. Everest Medicines has developed a fully integrated commercialization platform that combines omnichannel commercial capabilities with end-to-end product lifecycle management. Leveraging its proprietary mRNA platform, the Company is advancing its existing pipeline, including mRNA in vivo CAR-T and mRNA cancer vaccines, while selectively expanding into additional high-value therapeutic areas with blockbuster potential, and accelerating its global expansion. For more information, please visit the Company's website: www.everestmedicines.com.

Forward-Looking Statements

This news release may make statements that constitute forward-looking statements, including descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the business operations and financial condition of the Company, which can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, or other factors, some of which are beyond the control of the Company and are unforeseeable. Therefore, the actual results may differ from those in the forward-looking statements as a result of various factors and assumptions, such as future changes and developments in our business, competitive environment, political, economic, legal and social conditions. The Company or any of its affiliates, directors, officers, advisors or representatives has no obligation and does not undertake to revise forward-looking statements to reflect new information, future events or circumstances after the date of this news release, except as required by law.

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14:42
Zoomlion Engineer Shares the R&D Story Behind a Middle East Excavator Recognized at Seventh Technology Innovation Conference

CHANGSHA, China, June 24, 2026 /PRNewswire/ -- Zoomlion Heavy Industry Science & Technology Co., Ltd. ("Zoomlion") developed a 21-ton crawler hydraulic excavator for the extreme heat, dusty conditions and prolonged breaker operations common in the Middle East. Developed by a team led by Wu Baoshuo, deputy director of the Medium and Large Excavator Research Institute at Zoomlion Earthmoving Machinery Company, the excavator received an Outstanding Flagship Product Award at the company's Seventh Science and Technology Innovation Conference.

Developed for high-temperature and dusty worksites, Zoomlion's 21-ton crawler hydraulic excavator operates at a quarry in the Middle East.
Developed for high-temperature and dusty worksites, Zoomlion's 21-ton crawler hydraulic excavator operates at a quarry in the Middle East.

Designed for the Middle Eastern markets, the excavator is built for municipal construction, utility projects and mining operations, where temperatures can exceed 50 degrees Celsius and hydraulic breaker work may account for more than 70% of operating time.

"Customers in the Middle East do not simply need another excavator. They need one that can keep working," Wu said. "The conditions are very different from conventional earthmoving, so the machine has to be developed around the realities of the local jobsite."

Wu led the project from design and testing through optimization and mass production. One of the team's biggest challenges was controlling heat during prolonged breaker operations. The combination of continuous breaker work and extreme temperatures placed heavy demands on the cooling system.

The team redesigned the airflow layout and optimized the cooling core to improve heat dissipation. Engineers also strengthened key structural components and refined welds to reduce stress during repeated impact. To improve dust protection, they enhanced the air intake system and cab sealing.

The team tested each improvement at customer worksites in the Middle East, using sensors to collect data and completing thousands of breaker cycles to refine the design.

The project brought together teams across product development, testing, manufacturing, technical support and overseas operations, while Zoomlion's testing center at its headquarters supported three months of high-frequency breaker durability testing.

The development process required repeated testing and refinement. When an early cooling design needed further adjustment, the team used the data to adjust the system and move forward.

"Innovation always comes with lessons," Wu said. "The company's support gave us the confidence to keep solving tough engineering challenges."

For Wu and his team, the award recognizes years of customer-focused engineering. "It is an honor, but not the finish line," he said. "We will keep learning from the jobsite and building equipment customers can rely on."

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14:39
WuXi Biologics' 25th Drug Substance Facility Completes First GMP Production, Manufacturing Process Execution with Zero Deviations

SHANGHAI, June 24, 2026 /PRNewswire/ -- WuXi Biologics (2269.HK), a leading global Contract Research, Development and Manufacturing Organization (CRDMO), announced that its MFG17 drug substance facility located at the Shanghai Fengxian site has successfully completed its first GMP production campaign. The manufacturing process execution was completed with zero deviations, while critical process parameters remained stable and yields reached expected levels, demonstrating robust process performance and strong execution capabilities. As the 25th drug substance manufacturing facility within WuXi Biologics' global network, MFG17 is designed to provide scalable manufacturing services for a broad range of biologics across both clinical and commercial stages.

To meet the diverse needs of projects at different development stages, MFG17 is equipped with multiple single-use bioreactors (SUBs), with a total manufacturing capacity of 9,000 liters for 80-100 batches annually. While adhering to global regulatory requirements, MFG17 offers both flexibility and process adaptability, supporting a wide variety of process modes, including fed-batch, N-1 perfusion, perfusion, intensified perfusion, and fully automated continuous manufacturing. These capabilities enhance operational efficiency and process productivity, while enabling robust scale-up and reliable supply for complex biologics.

MFG17 is also advancing its digitalization strategy by systematically implementing automation, digital technologies, and advanced infrastructure across the manufacturing value chain. By transforming data, computation, and predictive modelling capabilities into smarter operational management and higher production efficiency, providing clients cost-competitive manufacturing solutions.

The facility will work in close synergy with other operations at the Fengxian site, accelerating end-to-end integration from discovery to development, from clinical to commercial manufacturing, from drug substance to drug product, enabling faster and more efficient project delivery.

Dr. Chris Chen, CEO of WuXi Biologics, commented, "The successful completion of the first GMP production at MFG17 further strengthens our manufacturing capabilities. Leveraging highly flexible single-use technologies and continuously advancing digital capabilities, we not only provide high-quality manufacturing support for our customers, but also serve as an extension of their capabilities, empowering global partners to accelerate the delivery of innovative biologics to patients worldwide."

WuXi Biologics continues to enhance its global dual-sourcing strategy to support technology transfer, scale-up, and multi-regional registration, providing long-term, reliable, and resilient commercial supply. The company operates across China, the United States, Ireland, Germany, and Singapore, with 5 research centers, 10 development centers, and 18 manufacturing sites, including 25 drug substance facilities and 18 drug product facilities currently in operation, providing end-to-end integrated solutions and services for global partners.

As of 2025, WuXi Biologics has delivered over 2,350 drug substance batches and over 2,260 drug product batches, and passed 46 regulatory inspections worldwide, including 22 inspections by the European Medicines Agency (EMA) and the U.S. Food and Drug Administration (FDA), with a 100% success rate, no critical findings, and no data integrity issues. In an additional demonstration of consistent high-quality delivery across its global network, the company has passed more than 1,800 GMP quality audits by global clients, including over 230 audits by EU Qualified Persons.

About WuXi Biologics

WuXi Biologics (stock code: 2269.HK) is a leading global Contract Research, Development and Manufacturing Organization (CRDMO) offering end-to-end solutions that enable partners to discover, develop and manufacture biologics—from concept to commercialization—for the benefit of patients worldwide*.

With over 13,000 employees in China, the United States, Ireland, Germany, and Singapore — including experts and scientists in biologics R&D and manufacturing, technology innovation, and operational excellence — WuXi Biologics leverages its technologies and expertise to deliver efficient, cost-effective, and scalable biologics solutions tailored to meet clients' needs. By embedding digital capability and infrastructure across the full biopharmaceutical value chain, the company turns data, computation, and prediction into transparent client experience, faster development, intelligent operations, and more efficient manufacturing. As of April 30, 2026, WuXi Biologics is supporting 982 integrated client projects, including 78 in Phase III and 25 in commercial manufacturing, with complex modalities representing more than half of the entire project portfolio.

WuXi Biologics regards sustainability as the cornerstone of long-term business growth. The company continuously drives technology innovations to offer advanced end-to-end Green CRDMO solutions for its global partners while demonstrating exemplary Environmental, Social and Governance (ESG) practices. Committed to creating shared value, it collaborates with all stakeholders to foster positive social and environmental impacts, and promote responsible practices that empower the entire value chain.

For more information about WuXi Biologics, please visit: www.wuxibiologics.com

*The winner of the "2026 Biologics CDMO of the Year" (Large CDMOs) (Life Science Connect / Outsourced Pharma)

*The winner of the "2026 Best Contract Development & Manufacturing Organization Award" (ABEA)

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