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BitMine Immersion (BMNR) Announces ETH Holdings Exceeding 2.65 Million Tokens and Total Crypto and Cash Holdings of $11.6 Billion

BitMine now owns greater than 2% of the ETH token supply as it moves towards the ‘Alchemy of 5%’

BitMine leads Crypto treasury peers by both the velocity of raising crypto NAV per share and by the high trading liquidity of BMNR stock

BitMine Crypto + Cash Holdings + “Moonshots” total $11.6 billion, including 2.651 million ETH Tokens, unencumbered cash of $436 million, and other crypto holdings

BitMine is the 26th most traded stock in the US, trading $2.6 billion per day (5-day avg)

BitMine remains supported by a premier group of institutional investors including ARK’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital and personal investor Thomas “Tom” Lee to support BitMine’s goal of acquiring 5% of ETH

LAS VEGAS, Sept. 29, 2025 /PRNewswire/ — (NYSE AMERICAN: BMNR) BitMine Immersion Technologies (“BitMine” or the “Company”) a Bitcoin and Ethereum Network Company with a focus on the accumulation of Crypto for long term investment, today announced crypto BitMine crypto + cash + “moonshots” holdings totalling $11.6 billion.

As of September 28th at 7:00pm ET, the Company’s crypto holdings are comprised of 2,650,900 ETH at $4,141 per ETH (Bloomberg), 192 Bitcoin (BTC), $157 million stake in Eightco Holdings (NASDAQ: ORBS) (“moonshots”) and unencumbered cash of $436 million.

BitMine crypto holdings reigns as the #1 Ethereum treasury and #2 global treasury, behind Strategy Inc (MSTR), which owns 639,835 BTC valued at $71 billion. BitMine remains the largest ETH treasury in the world. 

“As we enter the final months of 2025, the two Supercycle investing narratives remain AI and crypto. And both require neutral public blockchains. Naturally, Ethereum remains the premier choice given its high reliability and 100% uptime. These two powerful macro cycles will play out over decades. Since ETH’s price is a discount to the future, this bodes well for the token and is the reason BitMine’s primary treasury asset is ETH,” said Thomas “Tom” Lee of Fundstrat, Chairman of BitMine. “As we mentioned in our August Chairman’s message, the power law benefits large holders of ETH, hence, we pursue the ‘alchemy of 5%’ of ETH.”

The GENIUS Act and SEC’s Project Crypto are as transformational to financial services in 2025 as US action on August 15, 1971 ending Bretton Woods and the USD on the gold standard 54 years ago. This 1971 event was the catalyst for the modernization of Wall Street, creating the iconic Wall Street titans and financial and payment rails of today. These proved to be better investments than gold.

“We continue to believe Ethereum is one of the biggest macro trades over the next 10-15 years,” continued Lee. “Wall Street and AI moving onto the blockchain should lead to a greater transformation of today’s financial system. And the majority of this is taking place on Ethereum.”

BitMine is now one of the most widely traded stocks in the US. According to data from Fundstrat, the stock has traded average daily dollar volume of $2.6 billion (5-day average, as of September 26, 2025), ranking #26 in the US, behind Marvell Technology (rank #25) and ahead of Visa (rank #27) among 5,704 US-listed stocks (statista.com and Fundstrat research).

“At BitMine, we are leading our crypto treasury peers by both the velocity of raising crypto NAV per share and by the high trading liquidity of our stock,” said Lee.

The company recently released a corporate presentation, which can be found here: https://bitminetech.io/investor-relations/

The Chairman’s message can be found here:
https://www.bitminetech.io/chairmans-message

To stay informed, please sign up at: https://bitminetech.io/contact-us/

About BitMine
BitMine is a Bitcoin and Ethereum Network Company with a focus on the accumulation of Crypto for long term investment, whether acquired by our Bitcoin mining operations or from the proceeds of capital raising transactions. Company business lines include Bitcoin Mining, synthetic Bitcoin mining through involvement in Bitcoin mining, hashrate as a financial product, offering advisory and mining services to companies interested in earning Bitcoin denominated revenues, and general Bitcoin advisory to public companies. BitMine’s operations are located in low-cost energy regions in Trinidad; Pecos, Texas; and Silverton, Texas.

For additional details, follow on X:
https://x.com/bitmnr
https://x.com/fundstrat
https://x.com/bmnrintern

Forward Looking Statements
This press release contains statements that constitute “forward-looking statements.” The statements in this press release that are not purely historical are forward-looking statements which involve risks and uncertainties. This document specifically contains forward-looking statements regarding progress and achievement of the Company’s goals regarding ETH acquisition and staking, the long-term value of Ethereum, continued growth and advancement of the Company’s Ethereum treasury strategy and the applicable benefits to the Company. In evaluating these forward-looking statements, you should consider various factors, including BitMine’s ability to keep pace with new technology and changing market needs; BitMine’s ability to finance its current business, Ethereum treasury operations and proposed future business; the competitive environment of BitMine’s business; and the future value of Bitcoin and Ethereum. Actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond BitMine’s control, including those set forth in the Risk Factors section of BitMine’s Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on April 3, 2025, as well as all other SEC filings, as amended or updated from time to time. Copies of BitMine’s filings with the SEC are available on the SEC’s website at www.sec.gov. BitMine undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Eagle Eye Unveils Smart Rewards, A Real-Time Omnichannel Loyalty and Incentive Solution for Retailers

New real-time personalization execution solution from the leaders in retail loyalty technology instantly creates rewarding customer experiences when they matter most

LONDON, Sept. 29, 2025 /PRNewswire/ — Eagle Eye, a leading SaaS and AI technology company that delivers loyalty, personalized promotions and omnichannel marketing solutions for retail, travel and hospitality brands, today announced the launch of Smart Rewards, a real-time loyalty, incentive and customer engagement solution that forms a core component of the company’s Smart Checkout product suite. The new solution allows retailers to deliver and execute precisely targeted rewards and incentives to members at the exact moment of purchase, processing complex loyalty calculations faster than a Google search.

Smart Rewards allows retailers to deliver personalized customer experiences across any channel while maintaining speed and accuracy at checkout. For example, a shopper checking out at their local grocery store might have a discount automatically applied because they previously qualified for a discount off their next shop over $50. Importantly for the retailer, this process happens fast; the platform processes all valid discounts, rewards and points in less than 150 milliseconds, enabling retailers to move beyond the constraints of traditional point-of-sale systems and deploy loyalty incentives and offers at unlimited scale.

“Retailers today need the ability to recognize customers instantly and apply the most relevant rewards in real-time, regardless of where the transaction takes place,” said Tim Mason, CEO of Eagle Eye. “With Smart Rewards, retailers can create personalized shopping experiences that feel immediate, consistent and scalable across every interaction.”

How Smart Rewards Works

The process begins by identifying a loyalty program member at checkout. Smart Rewards analyzes the member’s basket, checks their digital wallet for applicable discounts, points and incentives, and cross-references reward eligibility against basket items. The system then applies the discounts to the checkout total and sends it back to the point-of-sale system in real-time while also sending accrued rewards, updated points balances and other loyalty entitlements back to the digital wallet for the retailer to display through their app or web Experience.

Simultaneously, the Smart Rewards platform leverages a variety of fraud protection and offer control tools to prevent misuse. These include a promotions ordering feature to determine which of multiple offers is prioritized (usually to maximize) member benefits, stacking rules to control the number of offers used in a single transaction and item promotion limits to avoid over-rewarding individual products. It also offers advanced refund and exchanges functionality to automatically re-analyze baskets when items are returned, reclaiming points or reversing redemptions to discourage abuse and protect profit margins.

Built for Omnichannel Retail

Smart Rewards’ API-first architecture ensures consistent loyalty experiences across all member touchpoints, from brick-and-mortar stores and e-commerce storefronts to shopping and loyalty apps. This unified omnichannel approach helps retailers build stronger member relationships while creating a rewarding connection in the moments that matter the most.

Smart Rewards is part of Eagle Eye’s comprehensive Smart Checkout suite, which provides retailers with integrated tools for executing modern commerce. Easily integrated into existing retail technology stacks, the entire Smart Checkout suite’s cloud-based infrastructure supports rapid scaling to meet growing business demands.

For more information about Smart Rewards, or to arrange an interview with an Eagle Eye executive, please contact Vanessa Horwell at vhorwell@thinkinkpr.com.

About Eagle Eye
Eagle Eye is a leading SaaS and AI company, enabling retail, travel and hospitality brands to earn lasting customer loyalty through harnessing the power of real-time, omnichannel and personalized marketing. Our powerful technology combines the world’s most flexible and scalable loyalty and promotions capability with cutting edge, built-for-purpose AI to deliver 1:1 personalization at scale for enterprise businesses, globally.

Our growing customer base includes Loblaws, Southeastern Grocers, Giant Eagle, Asda, Tesco, Morrisons, JD Sports, E.Leclerc, Carrefour, the Woolworths Group and many more. Each week, more than 1 billion personalized offers are seamlessly executed via our platform, and over 700 million loyalty member wallets are managed worldwide.

AI-powered, API-based and cloud-native, Eagle Eye’s enterprise-grade technology is fully certified by the MACH Alliance and has received recognition from leading industry bodies, including Gartner, Forrester, IDC and QKS. Visit www.eagleeye.com to learn more.

Makera Z1 Makes Global Debut at IFA 2025, Wins Innovation Award, and Sets Stage for Kickstarter Launch

Entry-Level CNC. Pro-Level Power.

MIDDLETOWN, Del., Sept. 29, 2025 /PRNewswire/ — Makera, the pioneer in smart desktop CNC solutions, took center stage at IFA 2025 (Sept 5–9, Messe Berlin) with the world premiere of the Makera Z1 Desktop CNC Machine. In its very first public appearance, the Z1 not only drew enthusiastic crowds but also earned the prestigious IFA Innovation Award 2025 (Best in Content Creation)—cementing its status as one of the show’s standout technologies.


Makera Z1 Makes Global Debut at IFA 2025, Wins Innovation Award, and Sets Stage for Kickstarter Launch

A First Look at Makera Z1

Compact yet powerful, the Makera Z1 is designed to lower the barrier of entry into CNC without compromising on capability. Built around the brand motto “Entry-Level CNC, Pro-Level Power”, the Z1 introduces features that make advanced digital fabrication truly accessible:

  • One-click auto-calibration – eliminating the most frustrating hurdle for beginners.
  • User-friendly Makera Studio software – with preloaded templates and intuitive workflows, no coding required.
  • 0.02mm positioning precision – delivering functional accuracy at an entry-level price point.
  • 4-axis machining & laser engraving – opening creative versatility in wood, plastics, and soft metals.
  • Modular dust management – built-in air-blowing for light projects, with seamless integration to the Makera Cyclone Dust Collector for advanced filtration.
  • Compact footprint (35 × 47 × 45 cm) and lightweight (17 kg) – a true desktop solution for homes, classrooms, and studios.

IFA visitors also experienced the RC Tank Battle Arena, where CNC-built tanks competed in real-time matches—an interactive showcase of how precision machining can inspire playful creativity.

Award-Winning Innovation

The IFA Innovation Award 2025 jury recognized Z1 as a breakthrough that “redefines accessibility without sacrificing performance.” Unlike most budget CNCs that underperform, or professional systems that intimidate new users, the Z1 was praised for bridging the gap—delivering professional-grade reliability in a design built for everyday creators.

Why Z1 Matters Now

Surveys confirm why many creators hesitate to adopt CNC:

  1. Budget CNCs often don’t work: weak performance leads to wasted investment.
  2. High-end CNCs feel risky: cost and complexity keep new users out.

The Z1 directly addresses these barriers. By inheriting Makera’s precision engineering from the Carvera series—used in fields as advanced as regenerative medicine research—the Z1 guarantees trust, reliability, and performance, but at a price and usability level that finally makes sense for first-time makers, educators, and hobbyists.

Looking Ahead: Global Livestream & Kickstarter Launch

Makera confirmed that the Z1’s online world premiere will take place on September 29, 2025, at 7 PM EDT, in a YouTube livestream where the team will share more details on the new product and officially announce the Kickstarter campaign.

Following the success of previous crowdfunding campaigns—Carvera (~$1.75M) and Carvera Air (~$3.5M)—the Z1 Kickstarter will mark Makera’s most ambitious step yet in its mission to democratize manufacturing tools.

“With the Z1, we’re not lowering the bar—we’re breaking barriers,” said Josh, CEO of Makera. “It’s about giving more people the confidence to start their CNC journey with a machine they can trust, one that grows with them. This is how we see the future of making: powerful, accessible, and for everyone.”

About Makera

Founded by a team of makers, Makera designs intelligent desktop CNC machines that combine automation, precision, and accessibility. From the high-performance Carvera series—trusted in classrooms, studios, small businesses, and medical labs—to the newly introduced Z1, Makera empowers creators worldwide to turn ideas into reality.

For more information and livestream registration, visit: Makera YouTube Channel Live Stream

Media Contact
press@makera.com
 | www.makera.com


Unveiling the Makera Z1 & Kickstarter Launch Plan @YouTube Livestream

Global Brands Converge at 2025 Jiefangbei International Consumption Festival

CHONGQING, China, Sept. 29, 2025 /PRNewswire/ — A news report from iChongqing:

The 2025 Jiefangbei International Consumption Festival opened this week in Chongqing’s Yuzhong District, turning the city’s landmark commercial hub into a showcase for global fashion and lifestyle trends.

With the theme “Global Style • Fashion Trends,” the festival brings together more than 100 international brands, 10 foreign consulates in Chongqing, and major commercial partners. Over the next two months, the event will feature product launches, fashion shows, exhibitions, and interactive shopping promotions.

The opening highlighted Harper’s Bazaar International Golden Street Show, with appearances from Chinese designer label II ENCORE and international bridal houses PRONOVIAS and VERA WANG Bride. Danish fragrance brand Skandinavisk debuted its first pop-up exhibition in Southwest China, while Li-Ning launched a new outdoor sports line. Bosideng unveiled its 2025 lightweight down jackets, and South Korea’s ON&ON staged its first regional exhibition.

International Golden Street Show. (Photo/Organizer)
International Golden Street Show. (Photo/Organizer)

Organizers have integrated initiatives under the “Five Trend-Sharing Plans,” ranging from debut exhibitions and boutique shopping experiences to nightlife activities, street revitalization, and online shopping campaigns. In partnership with UnionPay, major banks, and platforms like Meituan and Douyin, more than 100 themed promotions will boost consumer participation. The festival also debuts the Chongqing International Trend Beverage Festival, creating immersive experiences for visitors.

Aligned with the Chengdu-Chongqing Economic Circle, the festival jointly released the 2025 “Top Ten Trendsetting Consumption Destinations” with Chengdu’s Chunxi Road, reinforcing both cities’ ambitions to become world-class consumption hubs.

“Yuzhong is Chongqing’s window to the world and the world’s living room in Chongqing,” said Xie Dong, District Mayor of Yuzhong, noting the district’s role as home to all 15 foreign consulates in Chongqing, over 1,000 foreign-invested enterprises, and nearly 90 million annual visitors.

Since its launch in 2020, the Jiefangbei International Consumption Festival has grown into a flagship event blending commerce, culture, and international exchange. It underscores Chongqing’s rise as Western China’s leading consumption and lifestyle destination.

Hong Kong Digital Entertainment Association Launched “Hong Kong Pavilion” in “Tokyo Game Show 2025”

The 5th Hong Kong Game Enhancement and Promotion Scheme 
Breaking onto the global stage Showcasing HK’s original creative power to the world

HONG KONG, Sept. 29, 2025 /PRNewswire/ — Organized by The Hong Kong Digital Entertainment Association (HKDEA) and funded by the Cultural and Creative Industries Development Agency (CCIDA), as the lead sponsor, the 5th “Hong Kong Game Enhancement and Promotion Scheme” (GEPS) set up the Hong Kong Pavilion again at the renowned Tokyo Game Show 2025, held from 25th to 28th September 2025, to facilitate 11 selected local game start-ups to showcase Hong Kong’s diverse original games to the world.

11 Hong Kong start-ups showcased their brand-new original game at the Tokyo Game Show, one of Asia’s largest gaming events. They aimed to demonstrate Hong Kong’s creative strength and innovative technologies to global industry players, fostering exchanges and collaborations with international partners and expanding their presence in overseas markets, showcasing the power of Hong Kong’s original creations to the world.

The annual Tokyo Game Show was held at Makuhari Messe in Chiba, Japan, bringing together leading game developers, industry leaders, and gaming enthusiasts from around the world to explore the latest and most exciting game titles and technology trends. To mark the occasion, Mr. Gabriel Pang, Chairman, of HKDEA, along with 11 selected companies had an opening ceremony of the “Hong Kong Pavilion”. 

The Tokyo Game Show 2025 – Hong Kong Pavilion was located in 08-C04 in Hall 8. It occupied a floor space of about 100 square meters and exhibit 11 of the latest Hong Kong-made original games. Genres included real time strategy, MR game, casual game, UGC, Roblox, Roguelike, and others.

Selected Local Game Start-ups Participating in the 5th GEPS

Company Name

Game Name

Type of Game

Bright Success Technology Limited

Three Kingdoms Asunder

Real time strategy

Eteam Entertainment Limited

BlitzTrike(MR)

MR Game

Hammerstone Limited

Samurai Soul

Action Game

LIONROCK STUDIO LIMITED

SUPER FOCUS

Trivia / Casual Game

Lokin Studios (Hong Kong) Limited

School 666

Multiplayer Cooperative

LOST Studio Ltd.

LOST Studio

UGC

PANGU BY KENAL LIMITED

MENTAL MONSTERS

Roblox

Studio19B Limited

Fashion Runway

Simulation Game

Trillion AI Co Ltd

Dream Décor

Simulation Game

Vision Party Limited

In Woods

Roguelike, Survival

Why Not Have Fun Studio Limited

Doodle fantasy

Roblox Simulator

 

UOB pioneers cross-border card rewards redemption for Singapore customers, strengthening Malaysia-Singapore Consumer Connectivity

New capability leverages the Bank’s leading regional presence and adds to existing card benefits for UOB customers across ASEAN

SINGAPORE, Sept. 29, 2025 /PRNewswire/ — UOB is the first Singapore financial institution to launch a pioneering credit card capability today, enabling Singapore customers to redeem rewards points (UNI$) when they travel and spend in Johor, Malaysia. From today, Singapore UOB cardholders can instantly offset their bills at more than 150 merchant outlets using their rewards points (UNI$) at the point of sale.

From today, Singapore UOB credit card customers may instantly redeem UNI$ rewards points at the point of sale at eligible merchants in Johor.
From today, Singapore UOB credit card customers may instantly redeem UNI$ rewards points at the point of sale at eligible merchants in Johor.

As the Bank with the most comprehensive regional network serving more than 8.4 million retail customers and the largest credit card issuer in ASEAN for Visa and Mastercard in billings, UOB is well positioned to facilitate intra-regional consumer travel and spending. This new capability marks another milestone in the Bank’s regional strategy to deliver seamless, cross-border banking experiences, complementing its existing cross-border transaction solutions.

UOB’s cross-border redemption offering caters to rising cross-border consumer traffic and spending in Malaysia, where Singapore visitor numbers have grown by more than 22 per cent in the first half of 2025, compared to the same period in 2024[1]. This upward trend is expected to continue with growing connectivity and economic ties between the two cities, catalysed by the newly established Johor-Singapore Special Economic Zone and the upcoming Singapore Rapid Transit System launching in 2026.

Ms Jacquelyn Tan, Head of Group Personal Financial Services at UOB, said, “Singaporeans love travelling to Johor. In the first half of 2025, Singapore UOB cardholders spent nearly 15 per cent more overseas compared to the same period in 2024, higher than the regional average. Of this, they are spending 20 per cent more in Malaysia, with half of that spent in Johor. Leveraging the Bank’s strong presence in Malaysia, our new rewards capability opens a fresh avenue for our customers to stretch their rewards and experience greater value deals as they cross the border. This marks the next phase of our goal to create a borderless rewards ecosystem, providing our ASEAN customers with more choices, enhanced flexibility and greater value in how they spend, earn and redeem rewards overseas.”

This feature complements UOB’s existing cross-border capabilities – from travel-centric cards like the UOB PRVI Miles Credit Card, EVOL Card with 0% FX fees and multi-currency FX+ Debit Card, to easy payments via Duitnow QR, and fee-free overseas withdrawals at UOB ATMs. It also adds to ongoing regional card privileges, such as UOB Thailand’s collaboration with Central Group offering Tourist Exclusive deals, and accelerated miles on regional spend with the UOB PRVI Miles Credit Card.

Furthermore, through the Bank’s award-winning digital banking platform UOB TMRW, UOB continues to elevate its customer experience by delivering personalised offers tailored to each individual’s preferences. Central to this initiative is UOB TMRW’s Rewards+ programme featuring over 1,000 curated local and regional deals, which feeds country-specific offers to customers based on their travel location and spending patterns. This empowers customers to fulfil their lifestyle and travel aspirations, backed by UOB’s robust regional presence and its leadership as the top credit card issuer in ASEAN.

Singaporeans opting for lower-value purchases but shopping more often in Johor

Singapore UOB credit card customers in Malaysia are spending more in Malaysia over the years, with an uptick of about 40 per cent in billings annually from 2022 to 2024, and another 20 per cent growth year-on-year as of June 2025 year-to-date. Johor remains the top Malaysia city of choice, seeing the highest spending growth at 60 per cent annually from 2022 to 2024, and taking up nearly 50 per cent of all spending in Malaysia during the first half of 2025.

While the average ticket size for Johor transactions have dipped slightly from 2022 to 2024, the number of transactions on Singapore credit cards have surged, more than tripling from 2022 to 2024. In the first half of 2025, this number went up further by more than 50 per cent compared to 1H2024. This data suggests that while Singapore consumers are purchasing smaller-ticket items in Johor, they are spending more time or taking more frequent trips to Johor within a year, driving overall spending higher.

Dining remains the top category spend for Singaporeans in Johor, constituting to about 15 per cent of total credit card billings in Johor for 2023, 2024 and 1H2025. Other popular spend categories also remained relatively unchanged in the last few years, including supermarkets and apparel, which clocked in 10 per cent and 9 per cent of credit card billings in Johor respectively in 1H2025.

UNI$ redemption details and exclusive perks for UOB customers from today

In 2024, close to 20 per cent of Singapore customers holding UNI$ credit cards (UOB Lady’s Card, PRVI Miles Credit Card, UOB Visa Signature Credit Card, etc.) have used their UNI$ to offset credit card transactions. From today, Singapore UOB customers may use UNI$ to pay for their purchases instantly, at a rate of UNI$500 = S$5, or equivalent in Malaysian Ringgit. This feature is available at popular Johor merchants frequently visited by Singaporeans. These include brands like Subway, Jean Yip, MOG Eyewear and more, all of which have seen year-on-year growth in billings from 2023 to 2024.[2]

Furthermore, UOB is providing exclusive offers for Singaporeans holding any UOB credit or debit card from today. These include:

  • usage offers with popular F&B outlets including Din Tai Fung, Oriental Kopi, Haidilao and more;
  • RM5 discounts for Grab rides within Johor; and
  • 25 per cent off hotel bookings via Unravel in Johor.

The UOB EVOL Credit Card and FX+ Debit Card will also be enhanced from today to offer additional cashback at 10 per cent and 3 per cent respectively, on top of existing 0% FX fees.

Further details on UOB’s UNI$ redemption capability, participating merchants and usage offers may be found on go.uob.com/JBdeals.

About UOB
UOB is a leading bank in Asia. Operating through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, UOB has a global network of more than 470 branches and offices in 19 markets in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. Today, UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings.

For nine decades, UOB has adopted a customer-centric approach to create long-term value by staying relevant through its enterprising spirit and doing right by its customers. UOB is focused on building the future of ASEAN – for the people and businesses within, and connecting with, ASEAN.

The Bank connects businesses to opportunities in the region with its unparalleled regional footprint and leverages data and insights to innovate and create personalised banking experiences and solutions catering to each customer’s unique needs and evolving preferences. UOB is also committed to help businesses forge a sustainable future, by fostering social inclusiveness, creating positive environmental impact and pursuing economic progress. UOB believes in being a responsible financial services provider and is steadfast in its support of art, social development of children and education, doing right by its communities and stakeholders.

[1] Source: The Star: https://www.thestar.com.my/news/nation/2025/08/19/over-10-million-singaporean-tourist-arrivals-in-2025-to-date-says-tiong 

[2] 2023-2024 year-on-year billings growth for Subway: close to 80 per cent; Jean Yip: close to 40 per cent; MOG Eyewear: more than 120 per cent (based on UOB cards data).

 

Greater China Retail Supply/Demand Trends 2025 – Shifting consumption patterns reshaping retail real estate


HONG KONG SAR – Media OutReach Newswire – 29 September 2025 – Cushman & Wakefield, a leading global real estate services firm, today released its annual Greater China Retail Supply/Demand Trends report. According to the report, by Q2 2025, the total prime retail property stock in the core markets of the 15 major cities we track in Greater China reached 116.7 million sq m. During the past year, supported by “boosting consumption” measures, the Chinese mainland’s retail market demonstrated strong resilience. However, influenced by subdued consumer confidence and project upgrading efforts, the overall average vacancy rate across the 15 major cities rose 0.4 percentage points year-on-year to 11.1% in Q2 2025.

The supply/demand rundown for 17 city core area-level markets in Greater China (Q2 2025)
Source: Cushman & Wakefield Research

Duke Zhen, Managing Director, Head of Retail Services, China, Cushman & Wakefield, said, “With policy stimulus, the consumption environment improved marginally in the first half of 2025, reflected in both the recovery of consumer confidence and the accelerating growth of total retail sales of consumer goods on a quarter-on-quarter basis. Driven by emotional consumption and the increasing importance of quality–price ratio, the Chinese consumer market has become more diverse and dynamic, exhibiting renewed vitality.”

Shaun Brodie, Head of Greater China Research Content, Cushman & Wakefield said, “Since the start of this year, a series of supportive policies have continued to stimulate consumption, driving steady growth in the Chinese consumer market. To meet increasingly diverse and personalized consumer demands, the retail sector has been actively introducing new business models, consumption scenarios, service offerings, and retail formats.”

Retailers and shopping center landlords are responding with a renewed focus on customer experience, introducing new technologies, and experimenting with innovative retail formats. In terms of supply and demand, several key trends stand out in 2025:

  • Renovation and upgrading of existing properties;
  • Integration of cultural and tourism consumption;
  • The rise of pop toys as part of emotional consumption;
  • Strong growth in health-related consumption.

While slower economic growth and uncertain disposable incomes are likely to temper household spending, ongoing government measures to stimulate consumption — together with the success of new retail concepts and formats — are expected to support steady momentum. The outlook for Greater China’s retail property market remains positive, with policy support, changing consumer preferences, and innovative supply all converging to drive sustainable long-term growth.

Beijing

By the end of H1 2025, the total stock in Beijing’s retail property market reached 18.7 million sq m, of which 16.9 million sq m was accounted for by shopping centers.

Despite pressures from an economic slowdown and consumption downgrading, the market broadly maintained stability over the past year. Average asking rents stood at RMB2,130 per sq m per month, while the vacancy rate edged down to 10.5%. To adapt to shifting consumer sentiment, malls have actively renewed and upgraded their tenant mixes, aiming to attract footfall, enhance customer loyalty, and align with changing demands. The strategy has helped mitigate operational challenges faced by both projects and retail brands.

Looking ahead, approximately 500,000 sq m of new supply is scheduled to enter the market in H2 2025. This pipeline is concentrated in suburban developments and urban renewal projects across traditional submarkets, which will further diversify Beijing’s retail landscape.

In parallel, Beijing has rolled out a series of supportive policies to stimulate consumption. A new policy issued in June emphasizes upgrading traditional submarkets and malls, fostering innovative consumption scenarios, promoting the introduction of brand first stores, and providing targeted support for China-Chic brands and time-honored domestic brands. Together, these measures are expected to reinforce market confidence and unlock new consumption potential in the capital.

Shanghai

In the past year, 1.61 million sq m of new retail space was added to the Shanghai market, bringing the total stock of mid- to high-end shopping centers to approximately 25.0 million sq m.

The influx of new supply in H2 2024 and H1 2025 placed pressure on market fundamentals. The overall vacancy rate for mid- to high-end retail properties edged up 0.2 percentage points year-on-year to 9.5%, while the average first-floor asking rent fell 4.2% year-on-year to RMB728.7 per sq m per month. The rental decline was primarily driven by competitive pricing at newly launched suburban projects.

This heightened level of supply has intensified intra-market competition. Many aging retail properties are responding by repositioning their projects, upgrading brand mixes, and enhancing facilities to better align with the needs of Shanghai’s increasingly sophisticated consumer base.

Looking ahead, the second half of 2025 will see a further influx of new projects, adding to competitive pressures. Nonetheless, established properties by leading developers are expected to remain attractive to both international and prominent domestic retailers. Conversely, older retail properties located near new developments will face mounting competition and will need to adapt proactively to retain relevance and market share.

Shenzhen

Shenzhen’s retail market maintained positive momentum in the past year, with demand bright spots providing confidence for mall operators. Development activity also picked up, with approximately 878,000 sq m of prime shopping mall space delivered. As a result, Shenzhen’s prime mall stock increased 13.3% year-on-year to reach 7.5 million sq m.

At the same time, consumer behavior is evolving. More residents are frequenting community-based retail premises for convenience, reducing visits to large-scale malls. In response, landlords adjusted strategies by lowering rents to attract new entrants. The average monthly rental level declined 6.2% year-on-year to RMB761.6 per sq m, while the citywide vacancy rate rose 0.7 percentage points year-on-year to 9.1%. Looking ahead, approximately 1.3 million sq m of prime new mall space is scheduled for completion through the end of 2027. This influx of supply will intensify competition and exert further downward pressure on rental levels.

To counterbalance these pressures, Shenzhen has introduced a series of action plans aimed at improving employment rates and raising household incomes, measures designed to strengthen consumer confidence. These initiatives are expected to help mitigate the impact of macroeconomic uncertainty and support more sustainable long-term retail growth.

Guangzhou

Over the past year, Guangzhou added 443,000 sq m of high-quality retail space, lifting citywide stock to more than 6 million sq m. Approximately 87% of this new supply was delivered in non-core commercial districts, accelerating the city’s retail landscape diversification and extending consumer reach beyond traditional hubs.

Despite signs of improving consumer demand, retailers adopted a more cautious expansion approach. As a result, the overall vacancy rate rose 1.9 percentage points year-on-year to 9.2%. Competitive leasing strategies were observed in some prime malls, where landlords lowered rents to attract leading brands. This contributed to a 6.1% year-on-year decline in average prime mall rents, which fell to RMB672.6 per sq m per month.

Still, Guangzhou’s retail sector demonstrated resilience. Supported by the “first store” policy, prime malls introduced nearly 85 first stores in the past year — representing a 70% increase year-on-year — a clear sign of retailers’ long-term confidence in the city’s consumer base.

Looking ahead, approximately 976,000 sq m of new retail space is scheduled for completion between mid-2025 and 2026, with Panyu and Liwan districts accounting for nearly 40% of deliveries. Meanwhile, Guangzhou continues to strengthen its policy environment, issuing a draft implementation plan to stimulate consumer markets and rolling out special measures targeting duty-free retail, elderly services, and the catering industry. These initiatives are expected to further energize market vitality and accelerate the city’s consumption recovery.

Chengdu

The recovery of consumption supported the growth of Chengdu’s retail market over the past year. During H2 2024 and H1 2025, four new shopping centers were completed, adding 452,000 sq m of retail space and bringing the prime retail market stock to approximately 8.5 million sq m.

However, the addition of new projects with relatively high vacancy rates, combined with adjustments in existing retail properties, led to an increase in the overall vacancy rate, which rose 2.9 percentage points year-on-year to 8.93% by the end of Q2 2025. In response to this pressure, the average first-floor asking rent declined 3.4% year-on-year to RMB586.62 per sq m per month.

Despite these challenges, Chengdu has implemented multiple supportive policies in 2025 aimed at enhancing the retail sector. These initiatives are designed to diversify consumption scenarios, improve consumer spending capacity, and revitalize the city’s retail market, providing a solid foundation for sustainable long-term growth.

Hangzhou

Hangzhou continues to promote “domestic demand expansion and consumption growth” through targeted policies and activities, positioning consumption as a key engine for the city’s economic vitality. However, amid growing global uncertainties, demand remains somewhat constrained, highlighting the need for stronger foundations to support recovery.

Over the past 12 months, Hangzhou’s premium retail market welcomed the grand openings of six major commercial projects, adding nearly 380,000 sq m of new retail space. This marks a new phase of qualitative upgrading within the city’s retail sector.

Commercial complexes are increasingly enhancing their offerings to provide richer and more diverse shopping experiences. The market is also seeing a concentrated launch of flagship stores and first-to-market outlets, while emerging formats such as anime-themed venues and pet-centric stores continue to expand, creating new opportunities for premium consumption.

Hong Kong

Over the past year, Hong Kong has seen a continuous uptick in total tourist arrivals. However, visitor spending has become more cautious, with a growing preference for cultural experiences and value-for-money retail offerings. As a result, the increase in visitor numbers has not yet translated into stronger retail sales. From January to June 2025, total retail sales amounted to HK$185.1 billion, reflecting a year-on-year decline of 3.3%. High-end retail segments traditionally favored by tourists were particularly affected.

Some traditional retailers have exited the market after struggling to adapt to evolving consumption patterns among inbound tourists and local residents. Consequently, vacancy pressure has increased, with the average high street vacancy rate rising to 9.7% as at Q2 2025, exerting downward pressure on overall high street and F&B rents.

Despite these challenges, current attractive rental levels have encouraged mass-market retailers and emerging brands to enter high street areas, boosting leasing activity. The market is also undergoing a reshuffling of tenants, resulting in a more diversified and dynamic retail landscape.

Looking ahead, government initiatives promoting mega events and world-class concerts are expected to draw more international visitors and tourism spending. As a result, high street and F&B rents are projected to remain largely stable in H2 2025.

Taipei

In 2024, Taipei’s retail market stabilized as the effects of the pandemic recovery gradually diminished. Major shopping districts returned to regular activity, while brands adopted longer-term expansion strategies. The opening of the Taipei Dome boosted visibility and attracted visitors to the Zhongxiao district, while Zhongshan-Nanjing and Ximen maintained stable performance, supported by everyday consumption and inbound tourism.

During H1 2025, the retail market continued to perform steadily, with both rents and vacancy rates remaining flat. However, the long-term impact of the Taipei Dome on Zhongxiao remains to be seen.

Looking ahead to H2 2025, global economic uncertainty and outbound travel, which is diverting domestic spending overseas, are expected to persist. Meanwhile, new retail supply such as Dream Plaza will intensify competition. Major retail districts are likely to remain stable but may face rising pressure from consumer dispersal. Enhancing the street-level shopping experience and maintaining dynamic brand content will be key to sustaining competitiveness. The growth of micro-stores and flexible leases reflects a broader shift toward spatial efficiency and faster tenant turnover, helping retail districts adapt to evolving market dynamics.

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About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2024, the firm reported revenue of $9.4 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit or follow us on LinkedIn ().

HUAFA SNOW BONSKI Opens in Shenzhen, Creating the World’s Premium Ski Dome

SHENZHEN, China, Sept. 29, 2025 /PRNewswire/ — HUAFA SNOW BONSKI, a landmark destination that establishes Shenzhen as home to the world’s premium ski dome, will open to the public on Sept. 29. As one of the world’s largest ski domes, with a total construction area of 100,000 square meters, the project combines world-class infrastructure, professional training systems, and family-oriented entertainment to create a new global benchmark for indoor ice and snow sports.

HUAFA SNOW BONSKI
HUAFA SNOW BONSKI

Positioned as a comprehensive international snow sports operator, HUAFA SNOW BONSKI integrates professional venues, elite coaching, structured training, school–enterprise collaboration, and the capacity to host international competitions. Beyond filling a gap in premium indoor facilities, it pioneers a ‘snow sports + athletics + cultural tourism’ model that drives industry growth, cultivates new winter sports talent, and energizes the cultural and sports economy of the Greater Bay Area, encompassing Hong Kong, Shenzhen, Macau, and Guangzhou.

At the opening event, a spectacular snow show combining professional skill, visual spectacle, and interactive elements captivated the audience, heralding a new chapter of year-round snow sports in Shenzhen. Amid continuous applause and cheers, the performance not only showcased the expertise and professionalism of the coaching team but also marked the trail opening of HUAFA SNOW BONSKI.

HUAFA SNOW BONSKI is equipped with five professional ski slopes stretching a combined 1,569 meters. The venue offers a maximum vertical drop of 83 meters, a maximum slope of 18°, and the longest single run extending 463 meters. With two terrain parks, the facility provides dynamic experiences for both recreational skiers and professional athletes. Crucially, the advanced slope and the intermediate slope are constructed to meet the stringent standards of the International Ski Federation (FIS). This enables the venue to host events such as alpine parallel competitions and slalom, making it capable of staging internationally certified FIS competitions.

Beyond professional skiing, the project features a 4,000-square-meter Ice & Snow Wonderland with 14 interactive attractions. From parent-child activities to youth competitions, it delivers diverse, year-round experiences for guests of all ages and abilities.

As the world-class ski dome worldwide, HUAFA SNOW BONSKI is set to attract both international tourists and elite winter-sports talent. Through high-profile events, expanded training collaborations, and cutting-edge recreational offerings, HUAFA SNOW BONSKI seeks to provide a holistic, all-encompassing experience for global visitors.

For more information, please visit HUAFA SNOW BONSKI on Instagram/Facebook.