New York, New York--(ACN Newswire via SeaPRwire.com - April 7, 2025) - Spiking, a leader in AI-driven financial technology, is thrilled to participate in IBM Z Day: Special Edition, a landmark virtual conference hosted by IBM on Tuesday, April 8, 2025, from 10:00 AM to 5:00 PM Eastern Time (ET). This complimentary one-day event invites technology enthusiasts, industry leaders, and innovators worldwide to witness the next era of enterprise computing and artificial intelligence, spotlighting Spiking's TradeGPT as a transformative force in capital markets.Event HighlightsGroundbreaking Keynote Announcement: At 10:00 AM ET, a live broadcast from New York City will unveil a major advancement in enterprise technology, including a new AI chip that Spiking's TradeGPT will leverage for unparalleled performance.Specialized Technical Tracks: Attendees can explore three cutting-edge tracks:IBM zNext: Discover the latest IBM mainframe, boasting up to 8x on-chip AI processors per core, enabling TradeGPT's unmatched scale, speed, and security.AI & Data: Learn how Spiking integrates advanced AI into mission-critical financial workloads without additional infrastructure.App Dev & IT Ops: See how AI-driven automation boosts productivity and efficiency, a cornerstone of Spiking's development strategy.Curated Experiential Journeys: Customize your experience with three paths:Security: Explore post-quantum encryption, critical for safeguarding TradeGPT's real-time financial insights.New to Z: Gain foundational knowledge about IBM Z, powering Spiking's enterprise ambitions.Developer: Dive into technical sessions tailored for developers enhancing platforms like TradeGPT.Earn Digital Credentials: Participants can earn up to four prestigious IBM digital skills badges, enhancing professional expertise.Dr. Clemen Chiang, CEO of Spiking, stated, "IBM Z Day: Special Edition is a defining moment for enterprise innovation, and we're proud to be at its forefront. Our LLM-based TradeGPT will harness the new AI chip unveiled on April 8, 2025, delivering unmatched speed and intelligence for real-time capital market decisions. This, alongside other surprises, positions Spiking to reshape how businesses leverage AI." Chiang's vision reflects Spiking's leadership in driving AI-powered transformation.Adam LG Ring, Global Head of the IBM Z Startup Community and Spiking's advisor, added, "As Spiking scales to volumes rivaling OpenAI, moving to an enterprise-scale solution with world-class security is both logical and essential. The latest IBM Z offerings, unveiled April 8, 2025, are cost-effective at scale-perfect timing for TradeGPT to lead the capital markets." Ring's endorsement highlights the strategic alignment between Spiking's goals and IBM's technology.Through IBM Z Day: Special Edition, Spiking joins IBM to offer a dynamic platform for connecting with global thought leaders, uncovering industry-defining trends, and showcasing innovations in AI, hybrid cloud, and post-quantum security. Tailored for all skill levels, this event is a must-attend for finance and tech professionals alike.Registration & AgendaRegister Now: Reserve your spot at https://ibm.biz/specialzday1Full Agenda: Explore the complete lineup of sessions and speakers at http://ibm.biz/agendazdayse2025Join Spiking and IBM on April 8, 2025, for a day of innovation, education, and networking as we unveil the future of enterprise computing and AI in capital markets.Media ContactNicole YeeMedia RelationsEmail: info@spiking.comPhone: 1-570-SPIKINGNote: All times are in Eastern Time (ET). Please adjust for your local time zone.About SpikingSpiking is a trailblazer in AI-driven financial technology, empowering businesses and investors with real-time, intelligent solutions for capital markets. Through its flagship product, TradeGPT, Spiking leverages cutting-edge AI to deliver unmatched performance and insights.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247585 Copyright 2025 ACN Newswire via SeaPRwire.com.

Financial Highlights:- In 2024, the total revenue amounted to RMB5,261 million, representing a YoY increase of 25.1% - The revenue of the 4Paradigm Sage AI Platform (the “Sage AI Platform”) business grew by 46.7% YoY to RMB3,676 million, accounting for 69.9% of the total revenue - The SHIFT Intelligent Solutions business recorded revenue of RMB1,022 million, accounting for 19.4% of the total revenue - The revenue of the 4Paradigm SageGPT AIGS Services segment amounted to RMB563 million, accounting for 10.7% of the total revenue- Gross profit was RMB2,245 million, with a gross profit margin of 42.7%- The total R&D expenses reached RMB2,170 million, accounting for 41.2% of revenue- The annual loss attributable to the owners of the Company was RMB269 million, with a reduction of RMB640 million compared to the full year of 2023, narrowing by 70.4% YoY. This marks the fourth consecutive fiscal year of sequential loss reduction since 2021Operation Highlights:- In 2024, the number of lighthouse users served by the Company reached 161, a YoY increase of 16%. The average revenue per lighthouse user was RMB19 million, with a Net Dollar Expansion Rate (NDER) of 110% for lighthouse users in 2024- 4ParadigmSage: During the Reporting Period, the Company launched the vertical world model development and management platform, Sage AI Platform 5.0, and completed multiple minor version upgrades, achieving end-to-end capabilities across the computing layer, platform layer, model layer, and application layer- 4Paradigm SHIFT: During the Reporting Period, the Company launched multiple solutions targeting various application scenarios and continued to update and iterate the functionalities and effectiveness of existing solutions to meet enterprise requirements for accuracy, reliability, and real-time performance in different vertical scenarios- 4Paradigm AIGS: During the Reporting Period, the Company continued to upgrade and optimize the functionality and application performance of products, such as the enterprise software reconfiguration assistant AIGS Builder and the enterprise programming assistant AIGS CodeX, creating an enterprise-level “development assistant” that understands customers, businesses, knowledge and R&D, while enabling fast coding capabilitiesHONG KONG, Apr 1, 2025 - (ACN Newswire via SeaPRwire.com) - A leading enterprise AI software company - Beijing Fourth Paradigm Technology Co., Ltd. (“Fourth Paradigm” or the “Company”, Stock Code: 6682.HK) today announced the consolidated annual results for the year ended December 31, 2024 (the “Reporting Period”).In 2024, Fourth Paradigm achieved strong growth in its overall business. The Company’s total revenue reached RMB5,261 million, representing a YoY increase of 25.1%. Gross profit was RMB2,245 million, with a gross profit margin of 42.7%. The Company highly values technological R&D, and has clear profitability goals. During the Reporting Period, the R&D expenses reached RMB2,170 million, accounting for 41.2% of revenue. The annual loss attributable to the owners of the Company was RMB269 million, with a reduction of RMB640 million compared to the full year of 2023, narrowing by 70.4% YoY. This marks the fourth consecutive fiscal year of sequential loss reduction since 2021.In 2024, Fourth Paradigm committed to creating value for customers, continuously enhancing digital transformation experience for existing customers and increasing user stickiness. During the Reporting Period, the number of lighthouse users served by the Company reached 161, a YoY increase of 16%. The average revenue per lighthouse user was RMB19 million, with a Net Dollar Expansion Rate (NDER) of 110% for lighthouse users in 2024.Benefiting from the surge in AI market demand, the Company’s Sage AI Platform business achieved significant growth, driving steady performance improvement of core business. In March 2024, Fourth Paradigm launched Sage AI Platform 5.0, which integrates vertical world model development and management, enterprise AI agent application suites, GPU resource pooling and other end-to-end capabilities, supporting the large-scale production and application of vertical world models and enterprise AI agents, and continuously driving intelligent transformation and high-quality development across industries.Core business revenue increased by 46.7%, with scaled expansion driving rapid businessAs the core of the Fourth Paradigm’s all businesses, the 4Paradigm Sage AI Platform business achieved significant growth during the Reporting Period, with revenue reaching RMB3,676 million, representing a YoY increase of 46.7% and accounting for 69.9% of total revenue. Scale effects are deepening progressively.In 2024, Fourth Paradigm remained committed to technological innovation, comprehensively enhancing the capabilities of Sage AI Platform. On the basis of end-to-end capabilities across the computing layer, platform layer, model layer, and application layer, Sage AI Platform continued to optimize key capabilities such as AI agent and GPU resource pooling. Among these, AI agent further enhanced its ability to solve complex problems and improve execution accuracy, and developed the enterprise AI agent development platform that covers the entire lifecycle of AI agent design, development, debugging, deployment, operational analysis, and iterative optimization. This empowers enterprise developers to efficiently and scalably build business AI agents with cognitive, decision-making, and execution capabilities – all on demand. As a result, development cycles have been reduced by over 95% in most cases. The GPU resource pooling capability enables enterprises to achieve platform-level management of hardware clusters, on-demand allocation of computing resources, and rapid scheduling, helping to address challenges such as low utilization of heterogeneous computing resources and high costs of adapting large models to computing power. According to the latest report from the internationally authoritative research firm IDC, Fourth Paradigm has maintained its position as the leader in China’s machine learning platform market share for six consecutive years.While scaling its core business, Fourth Paradigm has also made steady progress in its two other major businesses – SHIFT Intelligent Solutions business and 4Paradigm AIGS service business, which provide strong support for the core business – Sage AI Platform, driving efficient growth across the overall business.During the Reporting Period, revenue from SHIFT Intelligent Solutions totaled RMB1,022 million, comprising 19.4% of the total revenue. This business is built on the Sage AI Platform, tailored to different industry business scenarios. These solutions enable Fourth Paradigm’s technology and capabilities to penetrate a wider range of industries and scenarios, addressing critical business challenges for traditional enterprises and driving digital and intelligent transformation across industries. Due to the impact of the business expansion strategy, the revenue from this business decreased by 20.3% YoY while the revenue from Sage AI Platform business achieved 46.7% YoY growth.In addition, the revenue from the 4Paradigm SageGPT AIGS Services business during the Reporting Period reached RMB563 million, accounting for 10.7% of the Company’s total revenue. This business provides efficient development tools and services based on generative AI for the Sage AI Platform business, enabling multi-fold increases in enterprise R&D productivity.“AI agent + Vertical World Model” dual-core architecture builds the AGI foundation, enabling continuous expansion of the business ecosystemIn recent years, the continuous advancement of generative AI technologies has accelerated progress toward Artificial General Intelligence (AGI), a consensus widely recognized across the industry. As an enterprise with over a decade of experience in the AI sector, Fourth Paradigm is committed to empowering industries through its core philosophy of “AI agent + Vertical World Model”, which uses AI agents to understand human needs and leveraging corresponding vertical world models to solve problems, while continuously enhancing their respective capabilities – will ultimately drive the realization of AGI.Over the past year, adhering to the philosophy of “AI agent + Vertical World Model”, Fourth Paradigm has collaborated with numerous industry partners and has successfully implemented hundreds of reliable and controllable enterprise-level AI agent applications, covering scenarios such as financial credit risk control, water and electricity equipment maintenance, hydrological data monitoring, chronic disease management, intelligent course learning, automotive manufacturing MES system management, fluid dynamics design, intelligent after-sales customer service and academic administration assistant, comprehensively driving the intelligent transformation for enterprises.At the same time, Fourth Paradigm, in collaboration with partners, has released several out-of-the-box user-level agent solutions, such as intelligent meeting solutions, intelligent mouse solutions, and desktop AI search tools. These solutions cover AI agent capabilities such as simultaneous interpretation, one-click translation, robotic assistants, AI writing, and intelligent cross-platform search, helping enterprise business personnel achieve a leap in daily work efficiency.In addition, since the advent of DeepSeek, the inference and deployment costs of large models have significantly decreased, catalyzing market demand across large model implementation, integrated solutions deployment, and on-device AI applications. Fourth Paradigm has rapidly iterated its technical capabilities and product adaptations to deliver high-value solutions addressing these market needs.In terms of integrated solutions, Fourth Paradigm launched the out-of-the-box SageOne IA large model inference integrated solution, which enables seamless switching between the full-capacity model and multiple distilled models while supporting mainstream large models. This increases GPU utilization by over 30% and improves inference performance by an average of 5-10 times. Furthermore, SageOne IA comes with a rich suite of AI applications, helping developers efficiently create enterprise-level generative AI applications.For on-device AI, Fourth Paradigm launched the ModelHub AIoT on-device inference solution. This solution allows users to easily deploy small-sized distilled models such as DeepSeek R1, Qwen 2.5, and Llama 2/3 series on on-device devices for offline operation. It also balances model compression and inference performance while addressing the complexities of deployment and optimization. In addition, the Company has further expanded these capabilities into the consumer electronics sector, delivering AI Agent solutions that integrate hardware and software. That empowers consumer electronics manufacturers to launch AI-enabled terminal products that resonate with their users.In terms of Strategic Outlooks, Dr. Dai Wenyuan, Chairman of the Board, Executive Director, Chief Executive Officer and General Manager of Beijing Fourth Paradigm Technology Co., Ltd. said, “In recent years, generative AI has gained widespread recognition globally. As an AI technology service provider with over a decade of experience in the enterprise service sector, we have a deeper and more accurate understanding of how to organically integrate these rapidly evolving AI technologies to empower our enterprise clients, create tangible business value, and deliver practical efficiency improvements for both enterprises and individuals. This aligns with our ultimate vision that has always guided our business – AI for Everyone. Looking ahead, we will build on our decade-long expertise in the enterprise service sector, look toward the broader AI market, and leverage our AI capabilities to transform all possible business domains. We believe that the convergence of these diverse capabilities will form the cornerstone for achieving AGI.” Copyright 2025 ACN Newswire via SeaPRwire.com.

HONG KONG, Apr 3, 2025 - (ACN Newswire via SeaPRwire.com) - JBM (Healthcare) Limited (“JBM Healthcare”; Stock Code: 2161, together with its subsidiaries, the “Group”), a leading branded healthcare products marketer and distributor in Hong Kong, announced today that it has acquired a 90% stake in Tin Hee Tong Medicine Factory, Limited (“Tin Hee Tong”,), at a total consideration of HK$171.0 million. Tin Hee Tong has now become a non-wholly owned subsidiary of JBM Healthcare.Strengthening the Portfolio with a Trusted Heritage BrandTin Hee Tong’s flagship product, Tin Hee Tong Tin Hee Pills, has a rich legacy and strong brand recognition across Hong Kong and Mainland China, particularly in Guangdong Province. The product is well formulated for regulating the female menstrual cycle, promoting reproductive health, and enhancing blood circulation for a radiant complexion. Tin Hee Tong Tin Hee Pills is a highly trusted brand for gynecological well-being among female consumers. Recognising its distinctive market position and long-term growth potential, the Group sees this acquisition as a valuable strategic fit for its proprietary Chinese medicines portfolio.Unlocking Growth Potential & SynergiesThe acquisition presents a compelling opportunity to expand the Group’s portfolio of proprietary Chinese medicines and accelerate its growth strategy. By integrating this iconic brand into its existing lineup, the Group is well-positioned to capitalise on rising consumer demand for holistic healthcare solutions.To maximise the brand’s potential, the Group plans to launch a comprehensive marketing campaign, leveraging its extensive expertise in brand management and revitalisation to boost consumer awareness and engagement. Additionally, the Group will expand distribution networks to capitalise on new market opportunities and customer segments. By combining the complementary strengths of both businesses, the acquisition is expected to generate significant synergies, reinforcing the Group’s strategy of acquiring assets that align with its long-term vision and create shareholders’ value.Proven Track Record in Brand RevitalisationThe Group has a proven track record of revitalising heritage proprietary medicines brands, effectively transforming legacy products into prominent market players. Its portfolio includes iconic brands such as Po Chai Pills — a market leader in proprietary Chinese gastrointestinal medicines, Ho Chai Kung — a widely recognised household name in the OTC pain killer category, and Flying Eagle Woodlok Oil — a rejuvenated brand in the traditional Chinese medicated oil sector, driven by creative advertising that blends Hong Kong nostalgia with broad consumer appeal.Through strategic brand revitalisation, omni-channel expansion, and digitally driven consumer engagement strategies, the Group has successfully transformed heritage brands into contemporary wellness solutions that resonate with both loyal customers and the younger, generations. With Tin Hee Tong Tin Hee Pills, JBM Healthcare is set to reinvigorate this trusted brand and expand its market presence.Mr. Patrick Wong, Chief Executive Officer of JBM Healthcare said, “The acquisition of Tin Hee Tong represents a pivotal step in strengthening our leadership in the proprietary Chinese medicines sector. With its rich heritage and strong recognition, Tin Hee Tong Tin Hee Pills is a highly complementary addition to our portfolio. Drawing on our proven brand revitalisation expertise, we are confident in unlocking its full growth potential and delivering long-term value to our shareholders.”About JBM (Healthcare) Limited; Stock Code: 2161)JBM Healthcare is a Hong Kong-based company that markets and distributes branded healthcare products across Greater China, Southeast Asia, and other select countries. The Group is a distinctive player in the sector with marketing expertise and heritage in pharmaceuticals that prioritises product efficacy and quality to meet consumers' healthcare needs. As a renowned healthcare brand operator in Hong Kong, the Group carries a wide-ranging portfolio of branded healthcare products comprising branded medicines, proprietary Chinese medicines, and health and wellness products, which include well-recognised household brands such as Po Chai Pills , Ho Chai Kung Tji Thung San , Tin Hee Tong Tin Hee Pills , Flying Eagle Woodlok Oil , Tong Tai Chung Woodlok Oil , Shiling Oil , Konsodona Medicated Oil , Contractubex and Mederma for Kids . JBM Healthcare has been a constituent stock of the MSCI Hong Kong Micro Cap Index since 27 May 2021. For more details about JBM Healthcare, please visit: www.jbmhealthcare.com.hk Copyright 2025 ACN Newswire via SeaPRwire.com.

HONG KONG, Apr 1, 2025 - (ACN Newswire via SeaPRwire.com) - Amid a rapidly shifting global economic landscape, Chinese technology companies are emerging as dazzling stars on the international stage, driven by their innovative prowess and vast market potential. Quamnet has curated the “Quam Greater China Magnificent 7,” a selection aimed at identifying the most promising tech leaders in the Greater China region, unlocking new avenues for long-term wealth creation. These seven meticulously chosen tech giants not only dominate their respective fields but are also riding a powerful wave of technological breakthroughs, market expansion, and favorable policy support, signaling robust upward momentum. The rise of the “Quam Greater China Magnificent 7” is poised to inject a shot of confidence into the market, heralding the dawn of a new era for Chinese tech investments. “Quam Greater China Magnificent 7” Unveiled: A Powerhouse Lineup The “Quam Greater China Magnificent 7” comprises Alibaba (9988), Tencent Holdings (0700), Meituan (3690), Xiaomi Group (1810), BYD Company (1211), Pinduoduo (PDD.US), and TSMC (TSM.US). These seven titans, with their commanding positions in key industries and relentless pursuit of cutting-edge technology, stand as top-tier representatives of the Greater China and broader Asian tech landscape, while also wielding significant influence on the global stage. Outshining the U.S. Magnificent 7: Unique Strengths Take the Lead Compared to the globally renowned U.S. Magnificent 7, the “Quam Greater China Magnificent 7” showcases an undeniable and distinctive appeal. First, attractive valuations are a core highlight. In contrast to their American counterparts, Chinese tech stocks often trade at lower price-to-earnings ratios, offering investors a rare opportunity to enter at a discount. Second, these companies are deeply rooted in China—the world’s most dynamic developing economy—reaping the dual benefits of rapid economic growth and rising consumer spending, with growth potential far exceeding that of their peers in mature U.S. markets. Moreover, the “Quam Greater China Magnificent 7” taps directly into the immense opportunities of China’s domestic market, fueled by rapid urbanization, an expanding middle class, and strong government backing for strategic sectors like electric vehicles (EVs) and semiconductors. Investing in this group not only reduces over-reliance on U.S. markets, enhancing portfolio diversification, but also positions investors to capitalize on stabilizing regulatory conditions in China and a resurgence in global confidence, potentially reaping outsized returns as valuations soar. The “Quam Greater China Magnificent 7” brings together seven tech behemoths, each demonstrating unmatched market leadership and innovation in their domains, shining as guiding lights for the future. Alibaba, bolstered by the formidable support of Ant Group, reigns supreme in e-commerce, cloud computing, and digital payments, its influence unrivaled. The recent launch of its latest AI model, “Qwen 2.5,” underscores its technological ambition, signaling a bold push into artificial intelligence that promises to drive future growth. Tencent Holdings, anchored by the social media giant WeChat, its dominance in gaming, and deep expertise in fintech, sits firmly atop the industry throne. Its newly unveiled Hunyuan T1 model, with its high-efficiency, low-cost edge, stakes a claim in the AI race, showcasing Tencent’s formidable competitive strength. Meituan, the king of local services, holds an unassailable lead in food delivery and online travel, its user-centric service model setting the industry standard. Even more striking are its breakthroughs in drone technology and the “Wow AI” application, opening up entirely new growth frontiers. Xiaomi Group, advancing on dual fronts in consumer electronics and EVs, leverages its HyperOS system and autonomous driving technology to pioneer the smart era, its cross-sector innovation turning heads. BYD Company, a global leader in EVs and batteries, has long set the benchmark in the renewable energy space. Its DiPilot intelligent driving system seamlessly blends electrification with smart technology, ushering in a new chapter for the auto industry. Pinduoduo, a rising star in social e-commerce, has surged ahead with AI-driven supply chain optimization and personalized recommendations, redefining cost-effective consumption and rewriting the e-commerce playbook with its unique business model. Meanwhile, TSMC, the titan of semiconductor foundry services, posted revenues exceeding $90 billion in 2024, capitalizing on surging demand for AI chips to push its market dominance to new heights, cementing its role as an indispensable force in the global tech ecosystem. These seven giants not only stand tall in competitive markets but also lead industry trends with relentless innovation, unlocking boundless potential for the “Quam Greater China Magnificent 7” investment thesis. Growth Engines in Full Throttle: Limitless Potential Unleashed From steady core business expansion to ambitious multinational forays into emerging markets, these seven companies exhibit multidimensional growth prospects. Alibaba and Tencent are accelerating their cloud computing ambitions, Meituan is advancing drone delivery, while Xiaomi and BYD flex their muscles in the EV arena. At the same time, their leadership in AI and semiconductor technologies further solidifies their global competitiveness. On the policy front, China’s sustained support for EVs and semiconductors provides a robust tailwind for the group. With the mainland economy rebounding, consumer spending recovering, regulatory clarity improving, and geopolitical tensions easing, these seven stocks are primed for a valuation re-rating, promising substantial returns for investors. A Visionary Bet on China’s Economic Rise As torchbearers of technological progress in Greater China, the “Quam Greater China Magnificent 7” offers investors a prime platform to share in the region’s economic ascent. Whether in market leadership, technological innovation, or growth potential, these seven stand as industry paragons. Quamnet believes that as global attention refocuses on China, the “Quam Greater China Magnificent 7” is set to become the next big investment wave, ushering in a new era of wealth creation for forward-thinking investors.About Quam.net Financial Media LimitedEstablished in 1998, Quamnet is a comprehensive professional financial website that brings together financial information, proprietary research and analytical tools. With a broad range of financial services and providing of comprehensive Hong Kong market news, investment ideas, Hong Kong Investment company news and global market news.For further information, please contact:Venus Kuk, Tel: (852) 2217-2727, Email: Venus.kuk@quamgroup.comCarlos Tam, Tel: (852) 2217-2703, Email: Carlos.tam@quamgroup.com Copyright 2025 ACN Newswire via SeaPRwire.com.

HONG KONG, Apr 7, 2025 - (ACN Newswire via SeaPRwire.com) - On the evening of March 21, Bank of Chongqing Co., Ltd. (Stock Codes: 601963.SH, 01963.HK, hereinafter referred to as "BCQ" or "the Bank") released its 2024 Annual Report. During the reporting period, BCQ recorded operating income of RMB13.679 billion, a year-on-year (YoY) increase of 3.54%, and net profit of RMB5.521 billion, up 5.59% YoY. Net profit attributable to shareholders reached RMB5.117 billion, marking a YoY growth of 3.80%. Basic earnings per share (EPS) stood at RMB1.38.To enhance shareholder returns, the Bank proposed a final dividend of RMB2.48 per 10 shares (tax inclusive) for 2024. Dividend payments continued to demonstrate greater stability, sustainability, and predictability. The cash dividend payout ratio reached 30.01% in 2024, maintaining a five-year streak above 30% since the Bank’s A-share listing.Net Profit Attributable to Shareholders Exceeds RMB5 Billion, Asset Quality Continues to ImproveAgainst a backdrop of global economic complexity, China’s economy demonstrated resilience and vitality through steady progress in 2024. As a key regional financial institution, BCQ remained committed to advancing the "Five Key Areas in Financial Sector"—technology finance, green finance, inclusive finance, pension finance, and digital finance. By adhering to strategic directives, the Bank deepened its regional footprint, optimized its service offerings, expanded asset deployment, and reinforced liability management, steadily progressing toward high-quality development.By the end of 2024, BCQ’s total loans reached RMB440.616 billion, a 12.13% increase YoY, while total deposits rose 14.30% YoY to RMB474.117 billion.In terms of profitability, the Bank achieved operating income of RMB13.679 billion (+3.54% YoY) and net profit attributable to shareholders of RMB5.117 billion (+3.80% YoY), both hitting record highs since its 2021 listing.Within the framework of high-quality development, BCQ refined capital management and executed external capital replenishment initiatives, driving steady improvements across capital adequacy ratios. As of December 31, 2024, the Bank's Core Tier 1 Capital Adequacy Ratio stood at 9.88%, Tier 1 Capital Adequacy Ratio at 11.20%, and Total Capital Adequacy Ratio at 14.46%, representing increases of 0.10, 0.04, and 1.09 percentage points, respectively, from the prior year. These metrics not only meet regulatory requirements but also bolster risk resilience and provide a solid capital foundation for business expansion.The Bank’s non-performing loan (NPL) ratio declined to 1.25% by the end of 2024, the lowest level in five years. The special-mention loan ratio dropped to 2.64%, down 0.72 percentage points YoY, while the overdue loan ratio fell to 1.73%, a 0.22 percentage point reduction YoY. Additionally, the loan loss provision coverage ratio rose for the second consecutive year to 245.08%, up 10.90 percentage points, reinforcing financial security.Proactively Aligns with National Strategies, Multi-Tiered Services Empower the Chengdu-Chongqing Twin-City Economic CircleAs the first city commercial bank in Western China to achieve dual "A/H" listings, BCQ leverages its robust capabilities to serve markets across one municipality (Chongqing) and three provinces (Sichuan, Guizhou, Shaanxi). In 2024, the Bank seized strategic opportunities including the Chengdu-Chongqing Twin-City Economic Circle, New Western Land-Sea Corridor, and Rural Revitalization, cementing its differentiated competitive edge.During the reporting period, BCQ extended RMB40 billion in incremental credit to the Chengdu-Chongqing Twin-City Economic Circle, supported the New Western Land-Sea Corridor with RMB20 billion in additional business volume. The Bank’s issuance and outstanding balance of foreign currency bonds ranked among the top regional legal person banks in Western China.By adhering to a differentiated development strategy, BCQ leveraged its status as a legal-person bank and its strengths in inclusive finance, green finance, and other specialized sectors, to promote the "Five Key Areas in Financial Sector". In 2024, the Bank’s outstanding loans in technology, green projects, inclusive finance, and medium-to-long-term manufacturing grew by 32%, 40%, 22%, and 25%, respectively, injecting momentum into regional economic growth.In manufacturing finance, since 2024, the Bank has supported over 250 major projects through product innovation, channel expansion, and service optimization, including the Chengdu-Chongqing High-Speed Railway and Metro Line 15, with credit volume surging over 150% YoY. BCQ also provided RMB150 billion in credit to industries and infrastructure within the Chengdu-Chongqing Twin-City Economic Circle.For inclusive finance, the Bank refined its product ecosystem to empower small and micro businesses, individual businesses, and agricultural business entities. Under the "dual growth" framework, its outstanding inclusive micro and small loans reached RMB61.068 billion, up RMB10.822 billion YoY, while agriculture-related loans rose to RMB44.782 billion, up 15.40% YoY or RMB5.975 billion from 2023.As 2025 marks the conclusion of China’s 14th Five-Year Plan, BCQ pledges to strengthen strategic leadership, seize policy opportunities, accelerate transformation, and advance toward a "trillion-yuan" scale through reform, innovation, and relentless effort. The Bank aims to deliver superior financial services, enhance shareholder value, and contribute more meaningfully to regional economic and social development. Copyright 2025 ACN Newswire via SeaPRwire.com.

HONG KONG, Mar 31, 2025 - (ACN Newswire via SeaPRwire.com) - On 30 March, Fosun International (00656) announced its 2024 annual results, reporting a total revenue of RMB192.14 billion. The Group’s four core subsidiaries – Yuyuan, Fosun Pharma, Fosun Insurance Portugal, and Fosun Tourism Group (“FTG”) – generated a total revenue of RMB134.65 billion, accounting for 70.1% of the Group’s total revenue. The loss attributable to owners of the parent amounted to RMB4.35 billion, mainly attributable to Alibaba Group’s repurchase of Cainiao’s shares at a low price, which significantly reduced the carrying value of those shares. Excluding the effect of this factor, Fosun International’s profit attributable to owners of the parent in 2024 amounted to RMB750 million, and the industrial operation profit, which reflects Fosun’s fundamentals and growth potential, reached RMB4.9 billion.According to the announcement, the Company provided a detailed explanation, along with sufficient supporting data, for the one-off book loss related to the Cainiao investment during the reporting period. Fosun International pointed out that, during the investment period, Fosun recorded Cainiao investment at fair market value based on market transactions, and the carrying value of Fosun’s holding of 564.18 million shares in Cainiao was approximately USD1.05 billion as at the end of 2023. In 2024, Alibaba Group repurchased shares in Cainiao held by its minority shareholders at USD0.62 per share in order to implement further adjustments to Cainiao’s business, which represents a substantial decrease compared to the carrying value of the Cainiao investment held by Fosun as at the end of 2023. Therefore, the carrying value of the Cainiao investment was adjusted according to the repurchase price of USD0.62 per share, resulting in a one-off non-cash book loss of approximately RMB5.1 billion in its 2024 financial statements. Fosun is still in ongoing negotiations with Alibaba Group regarding the subsequent arrangement related to the Cainiao investment.It is understood that prudent adjustments to the fair value of investment equity, made by Hong Kong-listed companies in accordance with Hong Kong accounting standards, are regarded as non-cash book changes. Such adjustments do not have a direct impact on the company’s operations or cash flow. Fosun International also emphasized in its announcement that this book adjustment is a one-off non-cash adjustment. “The Company’s overall operational fundamentals remain stable, the core businesses are under healthy development, and the industrial operation profits and operating cash flows stay healthy and stable.”In addition, the announcement disclosed Fosun’s investment and exit information regarding the Cainiao investment: “The Group’s total investment in Cainiao was approximately RMB1.5 billion. As at the end of 2024, the accumulative proceeds from historical divestments reached approximately RMB4.4 billion, yielding an internal rate of return (IRR) of approximately 34%.”It is worth noting that, from an investment perspective, Fosun has already achieved considerable returns on the Cainiao investment. The non-cash book loss resulting from the decline in Cainiao’s valuation is a standard financial adjustment, and does not reflect the company’s actual operations. However, it could potentially create misconceptions about Fosun’s operational performance.In fact, a clear strategic focus and solid industrial operational capabilities are becoming key perspectives for the market to observe Fosun’s long-term steady development. Recently, Fosun’s subsidiaries have successively announced their 2024 annual results, demonstrating consistent growth momentum and operational resilience.Among which, Fosun Pharma achieved operating revenue of RMB41.07 billion and net profit attributable to shareholders of RMB2.77 billion, representing a year-on-year increase of 16.08%; Henlius achieved operating revenue of approximately RMB5.72 billon, representing a year-on-year increase of 6.1%, while net profit reached RMB820.5 million, representing a year-on-year increase of 50.3%; FTG achieved sustained profitability, with Club Med’s business turnover reaching a record high of RMB16.15 billion, while Atlantis Sanya’s business turnover remained at a high level; Yuyuan’s asset-liability ratio further reduced to 67.82%, which is considered safe and reasonable, and the company had ample cash on hand of RMB10.69 billion; Fosun Insurance Portugal achieved growth in both domestic and international business. Its total gross written premiums reached EUR6.17 billion, while overseas revenue reached EUR1.84 billion. Through overseas expansion, the proportion of international business increased from less than 5% in 2014 to over 29.8%; Hainan Mining reported a net profit attributable to shareholders of RMB706 million, representing a year-on-year increase of 12.97%, and a net profit excluding non-recurring gains and losses of RMB680 million, representing a year-on-year increase of 23.72%.Fosun also maintained a healthy and stable operating cash flow. As at the end of 2024, the Group’s total debt to total capital ratio was 52.0%, and cash and bank balance and term deposits amounted to RMB106.34 billion.In 2024, Fosun continuously advanced its core business-focused and business streamlining strategy by divesting non-core assets and heavy assets to focus on core operations, reduce debt, and optimize its capital structure. The signed asset divestment amounted to approximately RMB17.5 billion equivalent at the group level, and approximately RMB30.0 billion equivalent at the consolidated level.In November 2024, after an absence of three years, Fosun returned to the offshore USD bond market and successfully issued long duration USD bonds, substantially expanding its offshore financing options. In terms of bank financing, Fosun refinanced its three-year unsecured syndicated loan with upsize from matured loan, achieving the successful launch of offshore syndicated loans for 8 consecutive years. Fosun High Technology issued several super short-term commercial papers, raising a total of RMB5.1 billion. In June 2024, the international credit rating agency S&P fully recognized the Group’s steady improvement in credit matrix, and reaffirmed the BB- rating and a stable credit outlook.Recently, Fosun International has successfully completed the refinancing of a USD870 million equivalent syndicated loan due on 28 March 2025. Of this amount, USD675 million equivalent was secured through a newly arranged syndicated loan. This syndicated loan represents the largest of its kind for a Chinese private enterprise so far this year, demonstrating strong recognition from leading international banks for Fosun’s strategic development in recent years.Looking ahead, Fosun will remain focused on its core businesses. Leveraging its globalization and innovation capabilities, along with the efficient execution of “strategic advancements and exits”, Fosun is set to maintain ample capital flow, thereby supporting its continued steady development. Copyright 2025 ACN Newswire via SeaPRwire.com.

- The 2nd Smart Lighting Expo and 16th Hong Kong International Lighting Fair (Spring Edition), opened today and will run for four days until 9 April 2025 at the Hong Kong Convention and Exhibition Centre- The twin fairs reveal brand new product trends including greenovation, customisation, connectivity & creativity, health & wellness and smart technology- Both the Asian Lighting Forum (6 April) and Smart Lighting Solution Forum (7 April) will be held during the fair period to explore the latest trends and developments in the lighting industryHONG KONG, Apr 6, 2025 - (ACN Newswire via SeaPRwire.com) - The 2nd Smart Lighting Expo and 16th Hong Kong International Lighting Fair (Spring Edition), organised by the Hong Kong Trade Development Council (HKTDC), opened today and will continue until 9 April at the Hong Kong Convention and Exhibition Centre. This year, the theme for both fairs is Go Smart, Live Green, presenting innovative and eco-friendly lighting solutions to enhance smart living and promote sustainability.Sophia Chong, Deputy Executive Director of the HKTDC, said: “As one of the events of Business of Innovation & Technology Week (BIT Week), Smart Lighting Expo returns this year and showcases a range of products and solutions, including smart lighting technologies, human-centric designs, sustainable lighting and much more. The Spring Lighting Fair continues to serve as a one-stop trading platform for diverse lighting products. The two fairs bring together some 1,000 exhibitors, creating an exceptional business and trade event for lighting fixtures, products and solutions.”According to Statista, the size of the global smart lighting market is expected to surge from US$8.1 billion in 2020 to US$44 billion in 2030. Smart lighting is programmed to allow users to adjust brightness, colour and colour temperature according to their needs. The International Energy Agency (IEA) predicts that LED technology will significantly reduce global electricity use by 2026, cutting carbon emissions by billions of dollars annually, and the widespread use of solar lighting solutions in urban infrastructure projects further demonstrates the industry's commitment to renewable energy.Two lighting fairs reveal new product trendsIn the face of changing market demands, apart from focusing on the functionality, the lighting industry continues to innovate this year with new trends such as sustainability, personalisation and creativity, healthy lighting and artificial intelligence (AI) technology being incorporated into lighting products.- Greenovation - Sustainable and innovative lighting productsIn response to the growing demand for sustainable solutions, the lighting sector has embraced “greenovation” — a forward-thinking approach that merges eco-friendly practices with cutting-edge technology and is becoming a new driver of growth. The principles of the circular economy are reshaping how lighting products are created, as seen from an increased use of recyclable and biodegradable components in fixtures, reducing environmental footprints.The Greenovation zone made its debut at the Spring Lighting Fair, with 15 exhibitors bringing a wide range of green lighting and smart home products. This included the LED mirror produced by Essence Sanitary Ware (Booth: 3E-C01) which combines advanced light control technology to provide intelligent lighting solutions in an adjustable brightness design and anti-fog technology. This is equipped with a magnifying mirror, Bluetooth speakers, a digital clock, WiFi weather updates, USB ports, a wireless charging shaving socket, and a smart panel, enhancing comfort and convenience. This innovative product is currently used in hotel and residential sectors and has been selected by multinational hotel groups.- Lighting fixtures with AI technology to create a smart homeThe introduction of AI and Internet of Things (IoT) solutions into lighting products has become an important part of enhancing the living environment and creating a high quality of life. The Smart Lighting Expo provides a comprehensive platform to showcase a wide range of smart products and lighting solutions. One such example is Kinglumi Co., Ltd. (Booth: 1B-A10), a national high-tech enterprise, which integrates AI, IoT and data analytics into its Caimeta AIoT product. This product is highly adaptable to the environment, outputs professional light colours, and provides end-to-end intelligent lighting solutions for industries such as retail, office buildings, hotels, residential buildings, schools, and restaurants.- Customised lighting to meet specific needsGone are the days of a one-size-fits-all approach to lighting, as the demand for personalised and adaptable lighting solutions has soared. This transformation is reshaping the industry and creating new opportunities for businesses to cater to individual preferences. Products can be tailored to meet the specific needs of customers and venues.Shenzhen Snoowel Technology Co., LTD (Booth: 1B-C19), a high-tech enterprise in Shenzhen, has brought customisable LED plant grow lights to the fairs which can be tailored to meet customers' colour and shape preferences. The lights promote photosynthesis through the intertwined emission of blue and red light. They also provide targeted and general lighting, with adjustable colour temperature and full-spectrum white LED that enhances the natural colouring of the plants. Another notable product is XRibbon, an ultra-thin LED light strip from Huitron Limited (Booth: 1E-C24). Crafted from a flexible material and offering customisable light colours, it is ideal for indoor and outdoor decorative applications. This product has received the Red Dot Design Award.- Stylish lighting with creative design elementsThe industry is incorporating innovative design ideas and stylish elements into its lighting products. Lighting is no longer just about visibility — it’s a medium for creativity experience, and interconnected lifestyles. For example, lighting that can be controlled by voice can be connected to music devices at home to provide an immersive experience for users. Hong Kong SNC Lighting Co Ltd (Booth: 1E-C02) is introducing a new and innovative LED work light, the Multifunctional Move Work Light, which can be flexibly rotated to five angles, from 0° to 120°. The design offers streamlined, high-efficiency heat dissipation through holes in the light body, and each light can be adjusted for brightness, enhancing the users experience. The versatile work light is suitable for both indoor and outdoor use, such as architectural lighting, scene lighting, commercial lighting, and advertising lighting. The LED lamp has won the iF design award for design innovation.Human-centric healthy lightingThe industry focuses not only on the design of lighting fixtures but also on the health of users, including intelligent healthy lighting products that can enhance the quality of users' sleep through human-centric lighting. Some exhibitors have made special efforts to create a healthy lighting environment. For example, Korea’s Prism (Booth: 3C-D09) brought the LED Desk Lamp to the Spring Lighting Fair, which is equipped with intelligent sensors for easy adjustment of light intensity. This can be attached to a monitor, making it suitable for long-term use, reducing eye fatigue.Gathering the most advanced lighting and solutionsThe Shanghai Pudong Intelligent Lighting Association returns to the Smart Lighting Expo and hosts the Smart Ecosystem and IoT Supply Chain Area, featuring Bweetech, Creatrol Intelligence, LEDiFUTURE, Shuncom AIoT, TYF and many more. In addition, there are group pavilions from Guangdong - Hong Kong – Macao Greater Bay Area – including a new Shenzhen Pavilion and the SZSA Smart Lighting Pavilion brought by Shenzhen Semiconductor Association, and the returning Zhongshan Pavilion, featuring some “New Technology Little Giant” enterprises that focus on niche and high-end market demands. Notable companies include Shenzhen Snoowel Technology Co., Ltd. (Booth: 1B-C19), which has patented LED lightbox edge light sources, and Shenzhen Xuyu Optoelectronics Co., Ltd. (Booth: 1B-A20), specialising in full-spectrum LED chips.Two forums to analyse hot topics in the marketIn addition to product demonstrations, the two fairs organise several industry seminars, networking receptions, product promotions and launches to keep participants abreast of the latest industry trends in sustainable lighting, healthy lighting and smart lighting, as well as provide opportunities for networking and expanding connections.The two key events are:- Asian Lighting Forum (6 April)The forum aims to facilitate the lighting industry’s adaptation to the latest market standards and showcase ESG developments through case studies. Matthew Norman, Creative Director at Baseline Lighting Design Studio, will present case studies from Asia and Europe on how the market is adapting to new EU regulations. Lucy Bubb, Managing Director of William Sugg & Co, a UK-based company specialising in the restoration of heritage lighting, will also share case studies on the revitalisation of heritage sites using sustainable lighting solutions, such as Duddell Street, Central, and the UK’s Parliament House, Buckingham Palace, and Westminster Abbey.- Smart Lighting Solution Forum (7 April)Co-organised with Shanghai Pudong Intelligent Lighting Association (SILA) again, industry experts will explore the advancement of human-centric lighting technology and the customised application of intelligent lighting in different scenarios. Industry leaders such as Dr. Feng Huang, Chair of Zhaga CTF and DALI CFG at Zhaga Consortium & DALI Alliance, Zoe, Yi Xia, Director of the International WELL Building Institute (China), which leads the development of healthy buildings around the world, and Lingtao Kong, Head of R&D Department of Xiaomi IoT Platform, will share their views on the relationship between lighting and physical and mental health, and discuss the future of human-centric lighting.Business of Innovation & Technology Week (BIT Week) packed with innovation eventsDriven by the Government of the Hong Kong Special Administrative Region’s Innovation, Technology and Industry Bureau and the HKTDC, the Business of Innovation & Technology Week (BIT Week) in April 2025 brings together a series of tech-related exhibitions, conferences, seminars, roundtables and networking events in Hong Kong, setting the perfect scene for industry exchanges and cross-disciplinary collaborations. A series of exciting events during the week, including the Smart Lighting Expo, InnoEX, Hong Kong Electronics Fair (Spring Edition), Hong Kong Web3 Festival and the Hong Kong World Youth Science Conference, are must-attend technology events for the industry.Photo download: https://bit.ly/4jejb5aThe 2nd Smart Lighting Expo and 16th Hong Kong International Lighting Fair (Spring Edition), will run until 9 April 2025, bringing together some 1,000 exhibitorsSmart Lighting Expo showcases a range of products and solutions, including smart lighting technologies, human-centric designs, energy-efficient innovations and much moreThe Shanghai Pudong Intelligent Lighting Association returns to the Smart Lighting Expo and hosts the Smart Ecosystem and IoT Supply Chain Area, showcasing the latest solutions from multiple renowned brandsSpring Lighting Fair is a one-stop trading platform for a wide range of lighting productsGreenovation Zone made its debut at the Spring Lighting Fair with 15 exhibitors presenting a wide range of green lighting and smart home productsAsian Lighting Forum was held today to facilitate the lighting industry’s adoption of the latest market standards and showcased ESG developments through case studiesFair informationDateOpening hours6-8 April 2024 (Sunday to Tuesday)9:30am – 6:30pm9 April 2024 (Wednesday)9:30am – 5pmVenueHall 1A-E and 3C-E, Hong Kong Convention and Exhibition Centre, 1 Expo Drive, Wan ChaiPress registration counter and media centreFor registration, members of the press must present their name cards and press passes at the counter located at the concourse of Hall 1CD, Hong Kong Convention and Exhibition Centre, or visit the HKTDC media centre (G/F of Hong Kong Convention and Exhibition Centre near the Expo Drive entrance)Fair websitesSmart Lighting Expo: smartlightingexpo.hktdc.comHong Kong International Lighting Fair (Spring Edition): hklightingfairse.hktdc.comActivity schedule: https://www.hktdc.com/event/smartlightingexpo/en/programmeHKTDC Media Centre: https://mediaroom.hktdc.com/enMedia enquiriesPlease contact HKTDC’s Communication & Public Affairs Department:Stanley SoTel: (852) 2584 4049Email: stanley.hp.so@hktdc.orgSerena CheungTel: (852) 2584 4272Email: serena.hm.cheung@hktdc.orgClayton LauwTel: (852) 2584 4472Email: clayton.y.lawuw@hktdc.orgAbout HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With over 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Copyright 2025 ACN Newswire via SeaPRwire.com.