27.6 C
Vientiane
Monday, July 7, 2025
spot_img
Home Blog Page 116

HKU School of Computing and Data Science Hosts Opening Ceremony for Global Asia Insurance Partnership (GAIP) Insurance Innovation Competition 2025

HONG KONG, May 28, 2025 /PRNewswire/ — The School of Computing and Data Science (CDS), The University of Hong Kong (HKU) hosted the opening ceremony of the Global Asia Insurance Partnership (GAIP) Insurance Innovation Competition 2025 on 28 May. The event marked the official commencement of this competition, which aims to foster innovation and strategic thinking within the insurance industry.

From the left: Ms Jasmine Kwong, Communications and Committee Manager of Hong Kong Federation of Insurers, Mr Steve Hui, President of The Actuarial Society of Hong Kong (ASHK), Professor Yi Ma, Director of School of Computing and Data Science, Ms Candy Au Yeung, Chief Customer Operations and Health Officer of Prudential Hong Kong, and Dr Bowen Wong, Honourary Secretary of Life Underwriters Association of Hong Kong
From the left: Ms Jasmine Kwong, Communications and Committee Manager of Hong Kong Federation of Insurers, Mr Steve Hui, President of The Actuarial Society of Hong Kong (ASHK), Professor Yi Ma, Director of School of Computing and Data Science, Ms Candy Au Yeung, Chief Customer Operations and Health Officer of Prudential Hong Kong, and Dr Bowen Wong, Honourary Secretary of Life Underwriters Association of Hong Kong

Organised by CDS with the support of the Actuarial Society of Hong Kong (ASHK) and solely sponsored by Prudential Hong Kong, this year the topic of the GAIP Insurance Innovation Competition 2025 (Hong Kong Station) is ‘Insurance Innovation’, which provides a platform for students to showcase their analytical, research, and presentation skills by proposing real-world innovations in the insurance sector.

The ceremony was officiated by esteemed guests, including Professor Yi Ma, Director of CDS; Ms Candy Au Yeung, Chief Customer Operations and Health Officer of Prudential Hong Kong; Mr Steve Hui, President of The Actuarial Society of Hong Kong (ASHK); Ms Jasmine Kwong, Communications and Committee Manager of Hong Kong Federation of Insurers and Dr Bowen Wong, Honourary Secretary of Life Underwriters Association of Hong Kong.

Professor Yi MA, articulated that the competition provides a unique opportunity for students to try out their ideas, expand their networks, and engage with industry leaders. He stated, “We are proud to host the GAIP Insurance Innovation Competition at HKU for the first time, and it is also the very first student competition hosted by our School since our official establishment last year, marking an exciting milestone for us.”

The GAIP Insurance Innovation Competition is an annual event organised by the Nanyang Technological University (NTU) and Global-Asia Insurance Partnership (GAIP) Organising Committee. The competition features two rounds: a local round hosted by partner university and a global final round held in Nanyang Technological University in Singapore. HKU is the 2025 local host and will bring in talents from different universities. The winning team will represent Hong Kong SAR and compete with other representatives of prestigious universities from countries including Australia, Indonesia, Japan, and Switzerland.

NTU expressed that “with HKU’s participation, the competition has become a truly global platform that connects emerging talents like students in Hong Kong to tackle real-world challenges under risk resilience and insurance. It is inspiring to see the creativity and passion from the participants here today in Hong Kong.”

The competition offers students the opportunity to showcase innovative solutions that could revolutionise the insurance industry. Entries will be evaluated based on the team’s analysis, creativity and innovation, feasibility and implementation, as well as presentation and communication.

Candy Au Yeung, Chief Customer Operations and Health Officer of Prudential Hong Kong said, “Prudential believes innovation is key to building a customer-centric, digitally empowered insurance experience. Sponsoring the GAIP Insurance Innovation Competition reflects our commitment to nurturing young talent and supporting bold ideas that can shape the future of health and protection. We are proud to support a platform that fosters creativity and collaboration.”

Additionally, participants stand to win cash prizes range from USD3,000 to USD15,000. Beyond prizes, participants will gain valuable insights, network with industry leaders, and enhance their professional prospects. Registration is now open until 6 June 2025.

About School of Computing and Data Science
Officially established on 1 July 2024, the School of Computing and Data Science is set to reform traditional educational frameworks to meet the needs of an ever-changing industry. Offering a variety of undergraduate and postgraduate programmes, the School is poised to play a pivotal role in shaping the future of technology and data science education.

Images download: https://shorturl.at/uc1Tu

Long-term Commitment to Treating Endometriosis and Improving Women’s Quality of Life – Gedeon Richter at the World Congress on Endometriosis

SYDNEY, May 28, 2025 /PRNewswire/ —Gedeon Richter had a strong presence at the World Congress of Endometriosis held this year in Sydney, Australia between 21-24 May 2025. As a Platinum Sponsor Gedeon Richter could reaffirm its innovation driven and long-term commitment in the field of endometriosis and in women’s health.

The company hosted a highly successful symposium titled Delving into Endometriosis Pain Management: From Adolescence to Family Planning, chaired by Prof. Neil Johnson. The session featured Prof. Rebecca Deans (Australia) on the early management of endometriosis in adolescence, Prof. Jason Abbott (Australia) on pain control and quality of life in adulthood, and Prof. Juan García-Velasco (Spain) on fertility challenges and family planning. This comprehensive agenda reflects Gedeon Richter’s focus on two closely linked areas, endometriosis and infertility, and its dedication to supporting women. Besides the expert-led scientific symposium, Gedeon Richter’s booth showcased the medical options offered for the management of endometriosis in the exhibition area as well.

Being Platinum Sponsors of WCE enabled us to show our dedication to endometriosis care with holistic, patient-centric mindset addressing both physical and emotional dimensions of women’s health. Endometriosis is a chronic, painful condition affecting over 190 million women worldwide, with an ever-increasing prevalence rate. It occurs when tissue similar to the lining of the uterus grows outside the uterine cavity, leading to inflammation, scarring, and significant pain.

Beyond physical discomfort, endometriosis can seriously impact fertility and overall quality of life, requiring effective medical treatment. Gedeon Richter markets the first and only globally available Relugolix combination therapy, for the treatment of moderate to severe symptoms of uterine fibroids and symptomatic endometriosis. This GnRH antagonist combines multiple active ingredients to effectively target the disease mechanism, offering symptom relief in a once-daily oral therapy. Its convenience, safety and proven efficacy allows women to manage their conditions without resorting to surgery.

“As one of Europe’s leading pharmaceutical companies in the women’s healthcare segment, Gedeon Richter is committed to providing modern and progressive solutions on a global scale. We believe that the continuous development of therapeutic options, such as our innovative medicine for endometriosis and our fertility products, will enable millions of women around the world to improve their quality of life,” said Dr. Peter Turek, Global Head of Gedeon Richter’s Women’s Healthcare Business Unit.

Formosa Pharmaceuticals and Adalvo Limited Announce Licensing Agreement for Clobetasol Propionate Ophthalmic Suspension for the Treatment of Ocular Inflammation and Pain

TAIPEI, May 28, 2025 /PRNewswire/ — Taiwan-based Formosa Pharmaceuticals (“Formosa”, 6838.TW) announced that the company has entered into an exclusive licensing agreement with Adalvo Limited (“Adalvo”) in the European and Brazilian markets for exclusive rights to the commercialization of clobetasol propionate ophthalmic suspension, 0.05% (APP13007), a marketed innovative treatment of post-operative inflammation and pain following ocular surgery.  Adalvo, a global pharma and top-three B2B company in Europe, was founded in 2018 and specializes in market access through a flexible and innovative business strategy.  With nearly 1100 drug launches since its inception, Adalvo boasts over 170 commercial partners providing therapies in over 130 countries covering a vast array of indications and technologies. The licensing agreement with Adalvo includes upfront payment, sales milestones, and profit sharing, with additional considerations throughout the term of the agreement.

APP13007’s active ingredient is the superpotent corticosteroid, clobetasol propionate, and is derived from Formosa Pharma’s proprietary APNT® nanoparticle formulation platform.  The novel formulation, approved by the US FDA in 2024, enables a convenient and straightforward dosing regimen (twice daily for 14 days) while providing rapid and sustained relief of inflammation and pain. In a US survey of 100 ophthalmic surgeons, rapid resolution of pain (~80% pain-free four days post-surgery) and low incidence of adverse events (<2%) were highlighted as key drivers to prescribing APP13007. 

The European ophthalmology market reached $16 billion in 2024, with Germany and the UK leading as the largest markets. Cataract surgery is among the most common procedures performed in EU hospitals, driving demand for effective post-operative treatments. Looking ahead, the ocular surgery segment is projected to grow to $38 billion by 2032.

“Formosa Pharma welcomes this partnership with Adalvo to complete our licensing endeavors in the European markets.  Adalvo’s formidable presence and expertise throughout the region is renowned, and we appreciate their recognition of APP13007 as a worthy addition to their vast portfolio of innovative and impactful medicines.” said Erick Co, President and CEO of Formosa Pharmaceuticals.

“This collaboration reflects Adalvo’s continued commitment to expanding access to novel and differentiated treatments across key therapeutic areas,” said Anil Okay, CEO of Adalvo. “We are pleased to partner with Formosa to bring this valuable ophthalmic asset to new markets.”

About Formosa Pharmaceuticals, Inc.

Formosa Pharmaceuticals, Inc. (6838.TW) is a clinical stage biotechnology company with primary focus in the areas of ophthalmology and oncology.  The company’s proprietary nanoparticle formulation technology (APNT®), through which APP13007 was developed, improves the dissolution and bioavailability of APIs for topical, oral, and inhaler administration.  Resulting formulations have high uniformity, purity, and stability, thereby allowing the utilization of poorly soluble or extremely potent drug agents which otherwise may face insurmountable challenges in safety, delivery, and penetration to target tissues.  For more details about Formosa Pharma and APNT®, visit www.formosapharma.com.

About Adalvo

Adalvo is a global pharmaceutical company, and one of the leading B2B pharmaceutical companies in Europe, with commercial partnerships in more than 130 countries and over 170 commercial partners globally. The company’s declared purpose is to make a difference for patients all over the world, driven by our smart collaboration network and commitment to delivering the highest quality differentiated products and services to our partners.

Adalvo takes pride in their ability to help partners reach their goals – be those increasing revenues or pushing into new markets. Tirelessly strives for excellence in all of its endeavours, driven by a deep-rooted passion for making a difference for partners.

The company’s purpose-driven culture is committed to improving the lives of patients around the world. Adalvo’s dynamic leadership team brings significant experience and industry know-how, which has helped to establish the company as a reliable global partner in the industry.

For more details about Adalvo, visit www.adalvo.com.

IonOpticks Generation 4 Aurora Series® sets a new benchmark in chromatography

MELBOURNE, Australia, May 28, 2025 /PRNewswire/ — IonOpticks, developer of the highest-performing chromatography columns for mass spectrometry research, today announces the launch of its 4th Generation of Aurora Series columns. Following extensive testing by leading proteomics researchers, the latest generation further strengthens the qualities that made the Aurora Series® famous, offering enhanced robustness, longevity, spray stability and reproducibility, while still delivering a best-in-class balance of throughput, sensitivity and depth of coverage in sample analysis. These performance gains enable Generation 4 Aurora Series® columns to withstand demanding conditions, offering a practical solution for laboratories under pressure to produce reliable data with fewer resources.

The Generation 4 Aurora Series® features an expanded range of 150 μm capillary flow columns designed for modern proteomics workflows. These columns deliver high-throughput analysis of complex samples while maintaining sensitivity. Notably, the introduction of the 150 μm columns brings improvements that are especially valuable for high-impact applications such as drug discovery, clinical proteomics, and bioprocessing development, where consistency and data reliability are essential.

Today also marks the introduction of IonOpticks’ HeatSync™ product family, developed to provide a more efficient and user-friendly suite of accessories for column heating at the source. The HeatSync™ ecosystem enables precise temperature control and includes a controller, column heater, regulator, and a dedicated housing for columns shorter than 8 cm. Its streamlined design minimises complexity, allowing researchers to focus on scientific discovery rather than managing equipment.

“As research budgets tighten, the need for smarter, more efficient solutions is more important than ever. Chromatography is the key determinant in the overall performance of an LC-MS system.  By upgrading from inferior column products to IonOpticks’ Gen 4 Aurora Series, researchers can unlock exceptional performance uplifts from their existing mass specs, without the need for costly instrument upgrades,” says Xavier Perronnet, Chief Executive Officer of IonOpticks.

“For those with the latest flagship mass spec offerings, IonOpticks Aurora Series has shown      time and again to be the only columns with the separation capacity to unlock the true power of these advanced instruments. With an expanded capillary range and our HeatSync accessories, Generation 4 Aurora Series columns reflect  our relentless pursuit of practical innovation and our dedication to advancing LC-MS to service an increasingly diverse range of applications,” Perronnet continues.

The latest enhancements and expanded product range embodied in Generation 4 address the key points of demand IonOpticks has distilled from extensive collaborations with the scientific community. Designed for stability across extended workflows, Generation 4 Aurora Series® columns support uninterrupted research for more complete proteomic coverage and greater confidence in quantification.

“As scientists, we understand how critical reproducibility and accuracy are to advancing proteomics research,” explains Dr Jarrod Sandow, Chief Product Officer at IonOpticks. “With Gen 4 Aurora Series, we’ve built on our customers’ feedback to deliver enhanced performance that truly pushes the boundaries. This launch marks an important step forward, designed to meet the changing demands of the research community and accelerate scientific discovery.”

“The collaboration behind this product is unmatched. We don’t innovate in isolation. We work closely with researchers to understand their challenges and ensure our products address them head-on. Generation 4 Aurora Series is the culmination of this partnership, delivering cutting-edge solutions that empower researchers to achieve even more, faster and more efficiently,” adds Dr Sandow.

Explore the full Generation 4 Aurora Series® to see how these advanced columns support more efficient workflows and help ensure that no potential breakthrough goes undetected.

About IonOpticks
IonOpticks produces high-performance chromatography solutions for the global research community enhancing mass spectrometry (LC-MS) and high-end proteomics research. Their solutions enhance the sensitivity of mass spectrometry sample analysis, enabling scientists and clinicians to discover more from their samples. These advancements are valuable for a broad range of applications within the field of biological and medical research including drug discovery, phosphoproteomics and shotgun proteomics.

https://ionopticks.com/

Dimitra and MANTRA Partner to Tokenize Real-World Agricultural Assets for Real Impact

DUBAI, UAE, May 28, 2025 /PRNewswire/ — Dimitra, a global leader in agriculture technology and sustainability solutions – that leverages blockchain and artificial intelligence to support farmers – has partnered with MANTRA, a layer 1 blockchain platform focused on real-world assets (RWAs). This collaboration aims to bring green agricultural assets onchain, offering innovative ways for farmers to finance their activities, and enable global investors to engage in sustainable value creation.

Dimitra uses blockchain and artificial intelligence to help smallholder farmers boost productivity and build more resilient agricultural systems. MANTRA brings a secure, regulation-friendly blockchain designed for tokenizing real-world assets, across real estate, commodities, and agriculture. Together, they will unlock new pathways to connect high-impact farming projects with investors seeking transparent, asset-backed opportunities that deliver both returns and positive change.

The first phase of the partnership will focus on cacao production in the Amazon region of Brazil and carbon credit projects in Mexico. In Brazil, Dimitra is working with smallholder farmers to improve cacao yields through the Connected Cacao platform, designed to provide tools for soil analysis, crop monitoring, AI technical assistance and regenerative best practices. Cacao is a high-demand crop, especially among chocolate producers. Tokenizing cacao-based RWAs can open new paths for financing infrastructure, traceability and farmer incentives, making the entire value chain more profitable and transparent.

In Mexico, Dimitra and MANTRA will leverage Dimitra’s carbon monitoring tools to support a forest conservation project covering over 20,000 hectares, with the potential to generate nearly one million carbon credits in the next ten years. These efforts will produce 100% traceable carbon credits, making it easier to verify, trade and invest. As the global demand for carbon credits continues to rise, tokenization of carbon projects offers a path to broader access and greater impact.

While the initial projects will focus on Brazil and Mexico, this partnership will establish a framework for tokenizing agricultural projects worldwide. Dimitra’s portfolio includes dozens of agricultural projects in Latin America, Africa and Asia. Many of these projects are economically sound, but struggle to attract funding. With MANTRA’s infrastructure, these initiatives can be turned into investable opportunities that appeal to a growing number of people and institutions looking to make a real impact with real returns.

“This partnership is about unlocking new value from the real economy,” said Jon Trask, CEO of Dimitra. “Through MANTRA’s platform, we’ll be able to turn powerful, regenerative agricultural projects into accessible investment opportunities, benefiting both farmers and investors.”

“Tokenizing agriculture isn’t just about innovation, it’s about finding solutions to real-world issues long associated with food supply – at scale – and for long-term impact,” said John Patrick Mullin, CEO of MANTRA. “Dimitra is solving real-world problems, with a focus on traceability and transparency – and we’re proud to help bring those to a wider audience. MANTRA Chain was built to support projects like these.”

The partnership follows a string of strong developments from MANTRA, which continues to build momentum in the real-world asset space. Earlier this year, MANTRA was awarded the first DeFi license from Dubai’s Virtual Assets Regulatory Authority (VARA) to operate as a Virtual Asset Exchange, as well as provide Broker-Dealer and Management and Investment Services. It also launched the RWAccelerator – a start-up program for builders and startups supported by Google Cloud.

About Dimitra

Dimitra is a leading AI and blockchain-based platform for AgTech driving productive, intelligent and inclusive farming. Dimitra empowers farmers to make their processes smarter through actionable data-driven insights. Now working with farmers and co-ops across 35 countries, Dimitra’s AI-driven solutions equip farmers, agribusinesses, and governments with cutting-edge technology to combat deforestation, increase yields, reduce costs, and mitigate risks. Dimitra ensures seamless access to precision agriculture, supply chain transparency, carbon credit generation, and regulatory compliance.

About Mantra
MANTRA  is a purpose-built Layer 1 blockchain for real-world assets, capable of adherence to real-world regulatory requirements. As a permissionless chain, MANTRA Chain empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced technology modules, compliance mechanisms, and cross-chain interoperability. MANTRA holds a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), to operate as a Virtual Asset Exchange, as well as provide Broker-Dealer and Management and Investment Services.

OneConnect Announces First Quarter 2025 Unaudited Financial Results

SHENZHEN, China, May 28, 2025 /PRNewswire/ — OneConnect Financial Technology Co., Ltd. (“OneConnect” or the “Company”) (NYSE: OCFT and HKEX: 6638), a leading technology-as-a-service provider for the financial services industry in China, today announced its unaudited financial results for the first quarter ended March 31, 2025.

First Quarter 2025 Financial Highlights

  • Revenue from continuing operations[1] was RMB368 million, compared to RMB723 million during the same period last year.
  • Gross margin of continuing operations was 28.5%, compared to 37.7% during the same period last year.
  • Loss from continuing operations attributable to shareholders was RMB38 million, compared to RMB54 million during the same period last year. Net margin of continuing operations to shareholders was -10.4%, compared to -7.4% during the same period last year.
  • Loss from continuing operations per basic and diluted ADS was RMB-1.06, compared to RMB-1.48 during the same period last year.

[1]  As previously reported, the Company completed the disposal of its virtual bank business (the “discontinued operations”) to Lufax Holding Ltd (“Lufax”) for a consideration of HK$933 million in cash on April 2, 2024. As a result of the disposal, the historical financial results of the Virtual Banking Business segment are now reflected as “discontinued operations” in the Company’s condensed consolidated financial information and the historical financial results of the remaining business of the Company are now reflected as “continuing operations” in the Company’s condensed consolidated financial information for the first quarter ended March 31, 2025, and comparative information has been restated accordingly.

 

In RMB’000, except percentages
and per ADS amounts

Three Months Ended

March 31

YoY

2025

2024

Continuing operations

Revenue

Revenue from Ping An Group and

Lufax[1]

157,542

480,052

-67.2 %

Revenue from third-party customers[2] 

210,236

243,218

-13.6 %

Total

367,778

723,270

-49.2 %

Gross profit

104,914

272,403

Gross margin[4] 

28.5 %

37.7 %

Operating loss

(56,263)

(66,348)

Operating margin[4] 

-15.3 %

-9.2 %

Loss from continuing operations

attributable to shareholders

(38,362)

(53,696)

Net margin of continuing operations to

shareholders[4]

-10.4 %

-7.4 %

Loss from continuing operations per

ADS[3], basic and diluted

(1.06)

(1.48)

Loss from continuing and discontinued

operations attributable to shareholders

(38,362)

(104,334)

Net margin of continuing and

discontinued operations to shareholders[4] 

-10.4 %

-14.4 %

Loss from continuing and discontinued

operations per ADS, basic and diluted

(1.06)

(2.87)

 

[1]  Reference is made to the announcement made by Ping An Group on October 21, 2024. Lufax became a subsidiary of Ping An Group on July 30, 2024. Therefore, the Company’s revenue from Ping An Group shown in this table included revenue from Lufax since July 30, 2024. Revenue from Lufax for the quarter ended March 31, 2024 was approximately RMB58 million.

[2] Third-party customers refer to each customer with revenue contribution of less than 5% of the Company’s total revenue in the relevant period. These customers are a key focus of the Company’s diversification strategy.

[3] In RMB. Each ADS represents 30 ordinary shares.

[4] Gross margin from is calculated as gross profit divided by total revenue for the period. Operating margin is calculated as operating profit/(loss) divided by total revenue for the period. Net margin to shareholders is calculated as the profit/(loss) attributable to shareholders divided by total revenue for the period.

Revenue from Continuing Operations Breakdown

Three Months Ended

In RMB’000, except percentages

March 31

YoY

2025

2024

Implementation

142,952

157,459

-9.2 %

Transaction-based and support revenue

 Business origination services

5,237

12,835

-59.2 %

 Risk management services

55,105

65,483

-15.8 %

 Operation support services

121,708

134,062

-9.2 %

 Cloud services platform

1,692

318,307

-99.5 %

 Post-implementation support services

19,925

14,921

33.5 %

 Others

21,159

20,203

4.7 %

 Sub-total for transaction-based and support

revenue

224,826

565,811

-60.3 %

Total Revenue from Continuing Operations

367,778

723,270

-49.2 %

Revenue from continuing operations was RMB368 million in the first quarter of 2025, a decrease of 49.2% from RMB723 million during the same period last year, primarily due to a decrease of RMB317 million in revenue from cloud services platform. Implementation revenue was RMB143 million in the first quarter of 2025, a decrease of 9.2% from RMB157 million during the same period last year, mainly due to a decrease in demand for implementation of financial services systems in China. Revenue from business origination services was RMB5 million in the first quarter of 2025, a decrease of 59.2% from RMB13 million during the same period last year, primarily due to a decrease in transaction volumes from loan origination systems under digital credit management solutions. Revenue from risk management services was RMB55 million in the first quarter of 2025, a decrease of 15.8% from RMB65 million during the same period last year, mainly due to a decrease in transaction volumes from banking related risk analytic solutions. Revenue from operation support services was RMB122 million in the first quarter of 2025, a decrease of 9.2% from RMB134 million during the same period last year, primarily due to decreased revenue from AI customer service solution. Revenue from cloud services platform was RMB2 million in the first quarter of 2025, a decrease of 99.5% from RMB318 million during the same period last year, primarily due to the strategic phasing out of the cloud services since July 2024, details of which were previously disclosed in our announcement dated July 11, 2024 regarding an update on our business operations. Revenue from post-implementation support services was RMB20 million in the first quarter of 2025, an increase of 33.5% from RMB15 million during the same period last year, primarily due to increased demand for our post-implementation support services from our overseas customers.

Three Months Ended

In RMB’000, except percentages

March 31

YoY

2025

2024

Digital Banking segment

103,973

161,553

-35.6 %

Digital Insurance segment

142,601

131,886

8.1 %

Gamma Platform segment

121,204

429,830

-71.8 %

Total Revenue from Continuing

Operations

367,778

723,270

-49.2 %

Revenue from Gamma Platform segment was RMB121 million in the first quarter of 2025, a decrease of 71.8% from RMB430 million during the same period last year, primarily due to the strategic phasing out of cloud services. Revenue from Digital Banking segment was RMB104 million in the first quarter of 2025, a decrease of 35.6% from RMB162 million during the same period last year, mainly due to a decrease in transaction volumes from business origination and risk management services. Revenue from Digital Insurance segment was RMB143 million in the first quarter of 2025, an increase of 8.1% from RMB132 million during the same period last year, mainly due to an increased demand for digital property and casualty insurance solutions.

First Quarter 2025 Financial Results

Revenue from Continuing Operations

Revenue from continuing operations was RMB368 million in the first quarter of 2025, a decrease of 49.2% from RMB723 million during the same period last year, primarily due to a decrease in revenue from cloud services platform.

Cost of Revenue from Continuing Operations

Cost of revenue from continuing operations was RMB263 million in the first quarter of 2025, a decrease of 41.7% from RMB451 million during the same period last year, which was mainly due to revenue decrease.

Gross Profit from Continuing Operations

Gross profit from continuing operations was RMB105 million in the first quarter of 2025, compared to RMB272 million during the same period last year. Gross margin of continuing operations was 28.5%, compared to 37.7% in the prior year. The decrease in gross margin of continuing operations was mainly due to reduction in economies of scale caused by the decrease in revenue.

Operating Loss and Expenses from Continuing Operations

Total operating expenses from continuing operations were RMB156 million in the first quarter of 2025, compared to RMB342 million during the same period last year. As a percentage of revenue, total operating expenses from continuing operations decreased by 5.0ppt to 42.3% from 47.3% during the same period last year.

  • Research and Development expenses from continuing operations were RMB62 million in the first quarter of 2025, compared to RMB213 million during the same period last year. The decline was mainly due to the Company’s proactive adjustment of its business structure and its return on investment driven approach to manage research and development projects. As a percentage of revenue, research and development expenses from continuing operations decreased to 16.7% from 29.5% in the prior year.
  • Sales and Marketing expenses from continuing operations were RMB46 million in the first quarter of 2025, compared to RMB49 million during the same period last year. The decline was mainly due to a decrease in personnel costs and advertising expenses. As a percentage of revenue, sales and marketing expenses from continuing operations increased to 12.6% from 6.7% in the prior year.
  • General and Administrative expenses from continuing operations were RMB48 million in the first quarter of 2025, compared to RMB81 million during the same period last year. The decline was mainly due to a decrease in personnel costs. As a percentage of revenue, general and administrative expenses from continuing operations increased to 13.0% from 11.1% during the same period last year.

Operating loss from continuing operations was RMB56 million in the first quarter of 2025, compared to RMB66 million during the same period last year. Operating margin of continuing operations was -15.3%, compared to -9.2% in the prior year.

Loss from Continuing Operations Attributable to Shareholders

Loss from continuing operations attributable to OneConnect’s shareholders was RMB38 million in the first quarter of 2025, compared to RMB54 million during the same period last year. Loss from continuing operations attributable to OneConnect’s shareholders per basic and diluted ADS was RMB-1.06, compared to RMB-1.48 during the same period last year. Weighted average number of ordinary shares in the first quarter of 2025 was 1,089,842,845.

Cash Flow

For the first quarter of 2025, net cash used in operating activities was RMB190 million, net cash used in investing activities was RMB825 million, and net cash used in financing activities was RMB6 million.

About OneConnect

OneConnect Financial Technology Co., Ltd. is a technology-as-a-service provider for financial services industry. The Company integrates extensive financial services industry expertise with market-leading technology to provide technology applications and technology-enabled business services to financial institutions. The integrated solutions and platform the Company provides include digital banking solution, digital insurance solution and Gamma Platform, which is a technology infrastructural platform for financial institutions. The Company’s solutions enable its customers’ digital transformations, which help them improve efficiency, enhance service quality, and reduce costs and risks.

The Company has established long-term cooperation relationships with financial institutions to address their needs of digital transformation. The Company has also expanded its services to other participants in the value chain to support the digital transformation of financial services eco-system. In addition, the Company has successfully exported its technology solutions to overseas financial institutions.

For more information, please visit ir.ocft.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s limited operating history in the technology-as-a-service for financial institutions industry; its ability to achieve or sustain profitability; the tightening of laws, regulations or standards in the financial services industry; the Company’s ability to comply with the evolving regulatory requirements in the PRC and other jurisdictions where it operates; its ability to comply with existing or future laws and regulations related to data protection or data security; its ability to maintain and enlarge the customer base or strengthen customer engagement; its ability to maintain its relationship and engagement with Ping An Group and its related parties, which are its strategic partner, most important customer and largest supplier; its ability to compete effectively to serve China’s financial institutions; the effectiveness of its technologies, its ability to maintain and improve technology infrastructure and security measures; its ability to protect its intellectual property and proprietary rights; its ability to maintain or expand relationship with its business partners and the failure of its partners to perform in accordance with expectations; its ability to protect or promote its brand and reputation; its ability to timely implement and deploy its solutions; its ability to obtain additional capital when desired; litigation and negative publicity surrounding China-based companies listed in the U.S.; disruptions in the financial markets and business and economic conditions; the Company’s ability to pursue and achieve optimal results from acquisition or expansion opportunities; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.  

Contacts

Investor Relations:
OCFT IR Team
OCFT_IR@ocft.com 

Media Relations:
OCFT PR Team
pub_jryztppxcb@pingan.com.cn 

 

ONECONNECT

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

Three Months Ended March 31

2025

2024

RMB’000

RMB’000

Continuing operations

Revenue

367,778

723,270

Cost of revenue

(262,864)

(450,867)

Gross profit

104,914

272,403

Research and development expenses

(61,570)

(213,183)

Selling and marketing expenses

(46,485)

(48,500)

General and administrative expenses

(47,685)

(80,520)

Net impairment losses on financial and contract

assets

(8,981)

(13,690)

Other income, gains or loss ‑ net

3,544

17,142

Operating loss

(56,263)

(66,348)

Finance income

15,544

10,340

Finance costs

(1,734)

(4,278)

Finance income – net

13,810

6,062

Loss before income tax

(42,453)

(60,286)

Income tax expense

(641)

(89)

Loss for the period from continuing operations

(43,094)

(60,375)

Discontinued operations

Loss from discontinued operations (attributable

to owners of the Company)

(50,638)

Loss for the period

(43,094)

(111,013)

Loss attributable to:

– Owners of the Company

(38,362)

(104,334)

– Non-controlling interests

(4,732)

(6,679)

(43,094)

(111,013)

Loss attributable to owners of the Company

arises from:

– Continuing operations

(38,362)

(53,696)

– Discontinued operations

(50,638)

(38,362)

(104,334)

Other comprehensive (loss)/income, net of tax:

Items that may be subsequently reclassified to

profit or loss

– Foreign currency translation differences of

continuing operations

(67)

1,334

– Exchange differences on translation of

discontinued operations

177

– Changes in the fair value of debt instruments

measured at fair value through other

comprehensive income of discontinued

operations

6,056

Item that will not be reclassified subsequently to

profit or loss

– Foreign currency translation differences

(2,628)

1,942

Other comprehensive (loss)/income for the

period, net of tax

(2,695)

9,509

Total comprehensive loss for the period

(45,789)

(101,504)

Loss per share for loss from continuing

operations attributable to owners of the

Company

(expressed in RMB per share)

– Basic and diluted

(0.04)

(0.05)

Loss per ADS for loss from continuing operations

attributable to owners of the Company

(expressed in RMB per share)

– Basic and diluted

(1.06)

(1.48)

Loss per share for loss attributable to owners of

the Company

(expressed in RMB per share)

– Basic and diluted

(0.04)

(0.10)

Loss per ADS for loss attributable to owners of

the Company

(expressed in RMB per share)

Basic and diluted

(1.06)

(2.87)

 

ONECONNECT

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

March 31

2025

December

 31

2024

RMB’000

RMB’000

ASSETS

Non‑current assets

Property and equipment

52,364

43,895

Intangible assets

189,152

195,636

Deferred tax assets

313,805

313,805

Restricted cash and time deposits over three

months

3,932

Prepayments and other receivables

7,260

6,506

Trade receivables

10,186

10,106

Total non-current assets

576,699

569,948

Current assets

Trade receivables

504,110

496,429

Contract assets

65,673

63,420

Prepayments and other receivables

268,007

342,221

Financial assets measured at fair value

through profit or loss

877,059

455,016

Derivative financial assets

797

40,356

Restricted cash and time deposits over three

months

490,428

51,940

Cash and cash equivalents

924,955

1,947,922

Total current assets

3,131,029

3,397,304

Total assets

3,707,728

3,967,252

EQUITY AND LIABILITIES

EQUITY

Share capital

78

78

Shares held for share option scheme

(145,195)

(149,544)

Other reserves

11,029,706

11,041,209

Accumulated losses

(8,371,653)

(8,333,291)

Equity attributable to equity owners of the

Company

2,512,936

2,558,452

Non-controlling interests

(59,241)

(54,509)

Total equity

2,453,695

2,503,943

LIABILITIES

Non‑current liabilities

Trade and other payables

17,669

10,670

Contract liabilities

11,254

12,946

Total non‑current liabilities

28,923

23,616

Current liabilities

Trade and other payables

890,467

993,842

Payroll and welfare payables

201,981

311,190

Contract liabilities

110,025

115,501

Short-term borrowings

19,907

19,160

Derivative financial liabilities

2,730

Total current liabilities

1,225,110

1,439,693

Total liabilities

1,254,033

1,463,309

Total equity and liabilities

3,707,728

3,967,252

 

ONECONNECT

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Three Months Ended March 31

2025

2024

RMB’000

RMB’000

Net cash used in operating activities

(189,795)

(115,236)

Net cash (used in)/generated from investing activities

(824,942)

255,848

Net cash used in financing activities

(5,646)

(100,971)

Net (decrease)/increase in cash and cash equivalents

(1,020,383)

39,641

Cash and cash equivalents at the beginning of the period

1,947,922

1,379,473

Effects of exchange rate changes on cash and cash

equivalents

(2,584)

1,777

Cash and cash equivalents at the end of period

924,955

1,420,891

 

Mega Matrix Inc. Presented FlexTV Weekly Highlights from May 19 to 23, 2025, Featuring Desire Maze, Ethical Dilemmas and Breakthrough Manual

SINGAPORE, May 28, 2025 /PRNewswire/ — Mega Matrix Inc. (NYSE American: MPU) launched seven English mini-series on its short drama platform FlexTV between May 19 and May 23, 2025, each illuminating life’s myriad vicissitudes. Through tales of emotional entanglement, familial upheaval, social barriers, and fateful turning points, audiences witnessed love’s sweetness and sorrow, betrayal’s pain and enlightenment, and the fervor and hope of triumph against the odds.


Desire Maze

  • Forced to Love the Ruthless CEO (May 19)
    Mega Matrix Inc.’s FlexTV introduced “Forced to Love the Ruthless CEO,” in which college student Nina enters a forbidden pact with CEO Ian to fund her mother’s surgery, only to reunite with her former lover Evan in a hospital corridor. As an artificial kidney becomes the pivot of a deadly love triangle, every embrace conceals ulterior motives and every tear carries a price.
  • Hands Off, Hearts On (May 20)
    FlexTV then premiered “Hands Off, Hearts On,” where martial-arts heiress Emily collides with business magnate Alexander in a fateful car accident. When Emily’s sister impersonates her savior, the story subverts the typical “stand-in” trope. Filmed in real locations, the rain-soaked fight scenes showcase authentic kung-fu choreography and an Eastern aesthetic of strength.
  • Wrong Man, Right Love (May 23)
    Finally in this block, “Wrong Man, Right Love” features a ludicrous case of mistaken abduction thrusting a faux playboy heir into the spotlight, exposing his survival instincts beneath a gilded façade. From bed-bound bindings to boardroom battles, the protagonists spark darkly humorous sparks amid their identity confusion.

Ethical Dilemmas

  • Code Red: Love’s Last Call (May 19)
    On May 19, FlexTV rolled out “Code Red: Love’s Last Call,” in which Dr. Ethan faces his marriage’s final reckoning with three life-or-death choices, spotlighting the modern struggle to “cut losses” in intimate relationships. When his wife Claire diverts life-saving funds to her first love, the series provokes profound debate on emotional coercion and the limits of responsibility.
  • From Trash to Throne (May 21)
    On May 21, “From Trash to Throne” dramatizes the story of disinherited scion Ethan, whose birthright is usurped by his adopted son. As evidence of a mansion fire surfaces in three stages, he transforms from victim to judge, unmasking the hypocrisy within his own bloodline.

Breakthrough Manual

  • Lady of Logic, Lover of War (May 21)
    Also on May 21, FlexTV released “Lady of Logic, Lover of War,” where Diana’s divorce is waged not with vengeance but with M&A strategy to reclaim her family’s empire. Paralleling a restaurant takeover with clashes against warlord factions, the drama underscores the strategic depth of a female disruptor.
  • Life 2.0: Loser Reloaded (May 22)
    On May 22, “Life 2.0: Loser Reloaded” follows laborer Ryan’s resurrection, defying conventional “cheat-code” arcs. By upgrading his flip phone and rewriting his destiny, the narrative embodies the tangible pursuit of social mobility. The brotherhood of the construction site lends the story authenticity and heart.

When Drama Mirrors the Struggle for Survival
Mega Matrix Inc.’s FlexTV highlights how deals struck beside the operating theater reflect moral quandaries born of unequal resources; a marriage countdown lays bare the critical threshold for “loss-limitation” in love; on the worksite, it is not only phones that ascend but barriers to class mobility; and in the gilded halls of privilege, it is blood and power—rather than brick and mortar—that burn with the fiercest conflicts.

Available in 15 languages including English, Japanese, and Korean, FlexTV reaches viewers in over 100 countries and regions. As it continues to innovate and diversify its content offerings, FlexTV remains committed to providing a premium viewing experience for audiences around the world. For more captivating series, visit https://www.flextv.cc/.

About Mega Matrix Inc.: Mega Matrix Inc. (NYSE American: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through Yuder Pte, Ltd., an indirect wholly owned subsidiary of the Company. Mega Matrix Inc. is a Cayman Islands corporation headquartered in Singapore. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io.

Key Metrics

The numbers for our key metrics, which include our period active users (PAU), period paying users (PPU), average membership and top-up streaming service revenue per active user (ARPU), and average membership and top-up streaming service revenue per paying user (ARPPU), are calculated using internal company data based on the activity of user accounts. We define an active user as a user who has downloaded and opened the FlexTV app at least once. We define a paying user as a user who has registered for a membership or has topped up, provided a method of payment, and is entitled to access FlexTV services (this membership or topping up does not include participation in free trials or other promotional offers extended by FlexTV to new users). We define ARPU as average membership and top-up streaming services revenue generated by each active user in one quarter. We define ARPPU as average membership and top-up streaming services revenue generated by each paying user in one quarter. We use these metrics to assess the growth and health of the overall business and believe that ARPU best reflects our ability to attract, retain, engage and monetize our users, and thereby drive revenue. While these numbers are based on what we believe to be reasonable estimates of our user base for the applicable period of measurement, there are inherent challenges in measuring usage of our products across large online and mobile populations around the world. In addition, we are continually seeking to improve our estimates of our user base, and such estimates may change due to improvements or changes in technology or our methodology.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company’s profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company’s new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company’s future results of operations are subject to additional risks and uncertainties set forth under the heading “Risk Factors” in documents filed by the Company with the Securities and Exchange Commission (“SEC”), including the Company’s latest annual report on Form 20-F, filed with the SEC on March 28, 2025, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company’s inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company’s assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Disclosure Channels

We announce material information about the Company and its services and for complying with our disclosure obligation under Regulation FD via the following social media channels:

X (f/k/a Twitter):

twitter.com/MegaMatrixMPU

Facebook:

facebook.com/megamatrixmpu

facebook.com/flextvus

LinkedIn:

linkedin.com/company/megamatrixmpu

TikTok:

tiktok.com/@flextv_english

YouTube:

youtube.com/@FlexTV_English

The Company will also use its landing page on its corporate website (www.megamatrix.io) to host social media disclosures and/or links to/from such disclosures. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our website, press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our website.

For inquiries, please contact: Info@megamatrix.io 

Cebu Pacific, Flyadeal Forge Strategic Partnership for Wet Lease, Commercial Cooperation

@CebuPacificAir #LetsFlyEveryJuan

MANILA, Philippines , May 28, 2025 /PRNewswire/ — Cebu Pacific (CEB), Philippines’ leading carrier, and flyadeal, Saudia Arabia’s fast growing low-cost airline, today signed a Memorandum of Understanding (MoU) to explore joint strategic commercial initiatives.

The historic agreement covers a wide range of opportunities in commercial cooperation and support in maintenance and engineering.

The first phase of the MoU will see flyadeal utilize two of Cebu Pacific’s Airbus A320 aircraft on a wet-lease arrangement for the upcoming summer peak flying season in the Kingdom of Saudi Arabia. Reciprocally, Cebu Pacific is examining wet-leasing flyadeal A320s during the busy winter period in Southeast Asia at the end of the year.

The agreement was signed at a joint press conference held in Manila today at which flyadeal chief executive officer (CEO) Steven Greenway and Cebu Pacific CEO Mike Szucs outlined plans for a phased cooperation beginning with the wet-lease arrangement.

Talks between the two airlines began earlier this year following a visit by Greenway and a flyadeal delegation to Manila to learn more about Cebu Pacific’s A330-900neo operations. flyadeal, the Middle East’s fastest growing airline, recently announced plans to venture into the long-haul market with an order for 10 A330 widebodies to be deployed between Saudi Arabia and the Philippines, and across southeast Asia from 2027.

Greenway said: “Today’s agreement is momentous as it marks flyadeal’s first ever strategic airline partnership. It was clear and obvious that flyadeal could learn a lot from Cebu Pacific’s experience of low-cost long-haul operations given we will be inducting the same A330-900neos into our fleet in just two years’ time. There are great benefits in sharing technical knowledge, training, and best practice in preparation for our A330 induction and, of course, we are both A320 operators.

“This was the starting point for wide-ranging commercial discussions covering a broad range of areas including more immediate needs of wet-leasing aircraft for flyadeal’s busy upcoming summer season. A win, win situation all round to bring in Cebu Pacific aircraft during our peak period and vice versa for Mike and his team to explore taking our aircraft for their winter peak later this year.”

Szucs explained: “With Cebu Pacific’s growing fleet, we seek to maximize the potential of our increased capacity through all months of the year. The utilization of our capacity by other carriers during our lean season is a way of achieving that.”

“This partnership with flyadeal highlights Cebu Pacific’s growing capability to support international carriers through wet leasing and broader operational collaboration. It diversifies our revenue streams and further expands Cebu Pacific’s presence beyond the Asia Pacific region.”

Both CEOs said their respective teams will meet frequently to map out the joint commercial plans over the next few months.

About Cebu Pacific

Cebu Pacific is the Philippines’ largest carrier both domestically and internationally with 37 domestic destinations, with hubs in Manila, Cebu, Clark, Iloilo, and Davao. It also currently operates flights to 26 international destinations, spanning across Asia, Australia, and the Middle East. Cebu Pacific currently operates a fleet of 98 aircraft—the youngest jet fleet in the Philippines—including a diversified mix of Airbus A320, A321, A330, and ATR aircraft.

In 2024, CEB signed a landmark purchase agreement with Airbus and Pratt & Whitney, an RTX business, for up to 152 A321neo aircraft, equipped with Pratt & Whitney GTF™ engines. This acquisition — which has a minimum commitment of 70 aircraft — is the largest in Philippine aviation history, valued at approximately USD $24 billion (PHP 1.4 trillion) based on list prices for the entire 152 aircraft order. This purchase agreement reflects CEB’s unwavering optimism for the future of air travel and steadfast commitment to meeting the evolving needs of passengers.

CEB was awarded as the Best Low-Cost Airline Brand in the Philippines in 2023 by World Economic Magazine, and the Best Airline in 2024 by Route Asia Awards. CEB is also a recognized ESG leader in both the Philippines and the Global Airline Industry. It also received a Gold Rating for Environmental Sustainability from Centre for Asia Pacific Aviation (CAPA) in 2023 and achieved an MSCI ESG rating of ‘AA’ in 2024. Only two companies in the Philippines and only 11 airlines in the world achieve this distinction.

CEB remains dedicated to providing affordable and accessible flights, enabling more travelers to connect with people, explore new places, and seize opportunities across the Philippines and beyond.

For more information, please contact:
Carmina Romero
Cebu Pacific, Director for Corporate Communications
Email: carmina.romero@cebupacificair.com
www.cebupacificair.com

About flyadeal

On 23 September 2017, National Day of the Kingdom of Saudi Arabia, flyadeal began operations with its historic maiden flight from Jeddah to Riyadh. A pioneer and innovator, flyadeal was the first regional low-cost airline to be launched only across digital distribution channels. Being the sister airline of full-service national carrier Saudia — both under the umbrella ownership of Saudi Arabian Airlines Corporation (Saudia Group) — flyadeal was created for the price-conscious and tech-savvy consumer in mind in a market where 80 per cent of the Saudi population is aged less than 40 years and has at least two mobile phones.

flyadeal aims to stimulate travel, tourism and trade with its affordable, value for money everyday fares catering to leisure, religious, family and business travellers. Simplicity is key with an all-Economy Class cabin across flyadeal’s narrowbody fleet. With the Kingdom undergoing dramatic transformation through its Vision 2030 economic diversification drive, aviation and tourism are among the many sectors earmarked for dynamic growth. flyadeal is the fastest growing airline in the Kingdom of Saudi Arabia and Middle East, recognised for excellence in on-time performance that is consistently above the global industry average.

flyadeal operates a young fleet of Airbus A320 narrowbody aircraft flying from bases in Riyadh, Jeddah and Dammam to destinations across Saudi Arabia with a growing international footprint in Europe, Middle East, North Africa and South Asia. The airline has flown over 35 million passengers since its inaugural flight. In May 2024, flyadeal placed its biggest ever order for 51 aircraft – 12 A320neos and 39 larger A321neos – with a delivery schedule beginning in 2026. In addition, flyadeal will operate long-haul scheduled services from 2027 with the phased induction of 10 Airbus A330neo widebody aircraft ordered by Saudia Group in April 2025.

By 2030, flyadeal plans to operate hundreds of routes that will see its fleet and network triple in number to over 100 aircraft and destinations, respectively. flyadeal’s aggressive expansion drive makes the rapidly growing airline one of the country’s most desirable companies to work for.

For more information, please contact:
Updesh Kapur
Corporate Communications Department
Email: updesh.kapur@flyadeal.com
www.flyadeal.com