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TWSC Debuts at COMPUTEX 2025: Empowering AI with Full-Stack Storage Solutions

TAIPEI, May 23, 2025 /PRNewswire/ — From May 20 to 23, 2025, TWSC made its debut at COMPUTEX 2025, one of the world’s leading technology exhibitions, under the theme “Transcending Intelligence, Ascending Full-Stack Solutions.” The company showcased a full range of storage products and solutions designed to support next-generation AI and computing applications.

TWSC showcases its full-scenario storage product portfolio and solutions at the event.
TWSC showcases its full-scenario storage product portfolio and solutions at the event.

As AI adoption accelerates, storage technology is becoming more scenario-driven. TWSC provides tailored “One Solution for One Scenario” services based on its full-chain capabilities in chips, algorithms, and application scenarios, accurately addressing the diverse needs of smart terminals, industrial control, servers, and other fields.

Full-Stack Storage Matrix Unleashes Efficiency

TWSC highlighted high-throughput, low-latency solutions at the event, including PCIe 5.0 SSDs, DDR5, eMMC, UFS, and LPDDR series. Combining performance and efficiency, these products enable AI inference and edge computing applications.

According to TWSC’s 2024 annual report, the company reported revenue of RMB 4.773 billion, a 168.74% increase year-over-year. Embedded storage sales reached RMB 843 million, rising by 1730.6%, while high-speed PCIe SSD sales grew 979%, becoming a major growth driver.

The company now offers scenario-based solutions across enterprise, embedded, consumer, and industrial applications, building a strong foundation for global growth through advanced storage modules.

Full-Stack Self-Developed Capabilities Build Competitive Edge

To enhance control over the industrial chain, TWSC has developed an integrated “wafer-to-product” scenario-based service capability, enabling differentiation through media analysis, chip design, firmware optimization, and packaging control.

TWSC uses its “5+1+N” global supply chain network to ensure smooth coordination across R&D, production, and delivery. With a robust validation system and adaptive quality control, the company aligns product quality closely with customer needs.

From chips to scenarios, and data to value — TWSC’s participation highlights the shift of storage technology from basic functions to intelligent services. By integrating industrial resources and expanding application scenarios, the company is building an open and collaborative innovation ecosystem for smart storage.

About TWSC: Shenzhen Techwinsemi Technology Co., Ltd. (Stock Code: 001309.SZ) was established in 2008 and specializes in integrated circuit solutions for storage controllers and modules. The product line covers four major series: SSD, embedded storage, DDR, and portable storage — offering reliable storage solutions for high-value applications such as smart terminals, data centers.

For more information please visit https://en.twsc.com.cn/, and follow TWSC on Facebook and Linkedin.

MBZUAI Launches Institute of Foundation Models and Establishes Silicon Valley AI Lab

SAN FRANCISCO, May 23, 2025 /PRNewswire/ — Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) has expanded its global footprint with the launch of its Institute of Foundation Models (IFM). The IFM is a multi-site initiative consisting of a newly established Silicon Valley Lab in Sunnyvale, CA, combined with previously announced lab facilities in Paris and Abu Dhabi.

 

Professor Eric Xing at the IFM launch in Silicon Valley
Professor Eric Xing at the IFM launch in Silicon Valley

 

The launch event yesterday at the Computer History Museum in Mountain View, establishes the third node in its global research network. This strategic expansion connects the university with California’s vibrant ecosystem of AI researchers, startups, and tech companies.

For the UAE and MBZUAI, this move represents another strategic step in the country’s long-term economic diversification plan. By investing in cutting-edge technologies like advanced AI foundation models, the UAE continues to build knowledge-based sectors to support its long-term economic and social transformation efforts.

“Today’s launch of the IFM represents a major step forward for the collaboration and global development of frontier-class AI foundation models,” said Professor Eric Xing, President and University Professor, MBZUAI. “Our expansion into Silicon Valley provides a critical footprint to grow our presence in one of the most vibrant AI ecosystems in the world. We’re creating pathways for knowledge exchange with leading institutions and accessing a talent pool that understands how to scale research into real-world applications.”

The launch event drew representatives from the world’s leading AI companies and academic institutions, highlighting the growing interest in MBZUAI’s global approach to foundation model research.

At the heart of MBZUAI’s demonstrations was PAN, a world model capable of infinite simulations of diverse realities ranging from basic physical interactions to complex agent scenarios.

Unlike previous systems focused primarily on generating text, audio, or images, PAN predicts comprehensive world states by integrating multimodal inputs like language, video, spatial data, and physical actions. This enables advanced reasoning, strategic planning, and nuanced decision-making for applications from autonomous driving to robotics.

PAN’s innovative hierarchical architecture supports multi-level reasoning and real-time interaction within simulations, maintaining high accuracy over extended scenarios. Its companion, PAN-Agent, showcases its utility in multimodal reasoning tasks, such as mathematics and coding, within dynamic simulated environments.

K2 and JAIS: Advanced Foundation Models with Global Impact

The IFM lab is also advancing two flagship AI systems demonstrating the commitment to further advance frontier-class foundation models: K2 and JAIS.

A soon to be released update to K2-65B will focus on delivering breakthrough reasoning capabilities with sustainable performance.

JAIS stands as the world’s most advanced Arabic large language model. At the IFM JAIS will continue to expand in capability with increased language support and add more context to preserve and promote the cultures it supports.

Building AI in the Open: Transparency as a Core Value

MBZUAI has established one of the industry’s most transparent approaches to AI development, open-sourcing not just models but entire development processes—positioning IFM as a leader in building openly. The LLM360 initiative provides researchers with complete materials including training code, datasets, and model checkpoints. This openness is balanced with safeguards including international advisory boards and peer review processes that maintain research integrity.

The IFM’s structure includes dedicated teams focused on model architecture, training methods, evaluation frameworks, and safety systems—combining the agility of a startup with the resources of an established research institution.

About Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) 

MBZUAI is a research-focused university in Abu Dhabi, and the first university dedicated entirely to the advancement of science through AI. For more information, visit www.mbzuai.ac.ae

For press inquiries:
Aya Sakoury 
Head of PR and Strategic Communications
media@mbzuai.ac.ae 

 

 

Mabwell Announces Clinical Data of Multiple ADCs to be presented at 2025 ASCO Annual Meeting

SHANGHAI, May 23, 2025 /PRNewswire/ — Mabwell (688062.SH), an innovation-driven biopharmaceutical company with entire industry chain, announced multiple clinical research results to be presented at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting, including phase Ib/II clinical study data of 9MW2821 (Bulumtatug Fuvedotin, BFv), a novel Nectin-4 targeting ADC, in combination with Toripalimab in locally advanced or metastatic uroepithelial carcinoma to be presented as oral presentation, and clinical study data of 7MW3711 and 9MW2921, a novel B7-H3 targeting ADC and a novel Trop-2 targeting ADC respectively, to be presented as poster presentations. The study of 9MW2821 was the only selected Chinese oral presentation in the field of urothelial carcinoma at this meeting.

Nectin-4 ADC (9MW2821):

In the phase Ib/II clinical study of 9MW2821 in combination with Toripalimab for the treatment of patients with locally advanced or metastatic urothelial carcinoma (la/mUc), a total of 40 patients with previously untreated for la/mUC were enrolled in the study and were treated with 9MW2821 (1.25 mg/kg) and Toripalimab (240 mg).

As of December 19, 2024, the objective response rate (ORR) was 87.5% and the confirmed ORR was 80%. The disease control rate (DCR) was 92.5%. Median progression-free survival (PFS) and duration of response (DoR) have not been achieved. No new safety signals of 9MW2821 or Toripalimab were observed in this study.

9MW2821 stands out as the first clinical-stage drug candidate among Chinese companies for this specific target. And it’s the first Nectin-4 targeting ADC to disclose clinical efficacy data in cervical, esophageal, and breast cancers. Currently, 3 Phase III pivotal clinical trials are ongoing. Its monotherapy and combination therapy with Toripalimab for urothelial carcinoma have been granted Breakthrough Therapy Designation (BTD) by the Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA) in China. It has also been granted Fast Track Designations (FTD) for 3 indications and Orphan Drug Designation (ODD) for 1 indication by the U.S. Food and Drug Administration (FDA).

B7-H3 ADC (7MW3711):

7MW3711 has enrolled 43 patients as of January 2, 2025 in a phase I/II clinical study in patients with advanced solid tumors. During the dose-escalation phase, dose-limiting toxicity (DLT) was not observed and the maximum tolerated dose (MTD) has not been reached. In patients evaluated at doses of 4.5 mg/kg or higher, the ORR for esophageal cancer, ovarian cancer, and prostate cancer was 33.3%, 60.0%, and 50.0%, respectively, and the DCR was 100%.

In the phase I/II clinical study in lung cancer patients, 37 lung cancer patients were enrolled as of January 8, 2025, including 16 small cell lung cancer (SCLC) patients and 21 non-small cell lung cancer (NSCLC) patients. Common grade ≥3 adverse reactions were neutrophil count decreased, white blood cell count decreased, anemia, lymphocyte count decreased, and platelet count decreased. Among the 25 patients who received 7MW3711 at a dose of 4.5 mg/kg or greater and completed at least one tumor evaluation, the ORR was 36.0% and the DCR was 96.0%; of these, the ORR and DCR were 62.5% and 100.0%, respectively, for patients with small-cell lung cancer at a dose of 4.5 mg/kg. Among squamous lung cancer (Sq-NSCLC) patients with a B7-H3 H-score >5, the ORR and DCR were 37.5% and 87.5%, respectively.

The study results suggest that 7MW3711 has a tolerable safety profile and good anti-tumor activity in patients with advanced tumors such as lung, esophageal, prostate and ovarian cancers.

7MW3711 was developed with Mabwell’s Interchain-Disulfide Drug Conjugate (IDDC™) platform. It consists of an innovative antibody molecule, a novel linker, and a novel payload: Mtoxin™, which is a topoisomerase I inhibitor. It has been granted ODD by the FDA for the treatment of SCLC.

Trop-2 ADC (9MW2921):

In the first-in-human clinical study in patients with advanced solid tumors, a total of 39 patients were enrolled as of November 12, 2024. The most common ≥3 grade adverse were stomatitis, anemia, white blood cell count decreased, neutropenia, lymphocyte count decreased, etc. The ORR of 3.0 mg/kg dose group was 42.1% and the DCR was 84.2%. Under this dose level, the ORR and DCR was 75% and 100% for endometrial cancer, 50% and 75% for HR+/HER2- breast cancer, 50% and 100% for gastric cancer, 25% and 100% for non-squamous non-small cell lung cancer.

The study result suggests that 9MW2921 has a tolerable safety profile and good anti-tumor activity in patients with advanced tumors.

9MW2921 was developed with Mabwell’s Interchain-Disulfide Drug Conjugate (IDDC™) platform. It consists of an innovative antibody molecule, a novel linker, and a novel payload: Mtoxin™, which is a topoisomerase I inhibitor. 

About Mabwell

Mabwell (688062.SH) is an innovation-driven biopharmaceutical company with the entire value chain of the pharmaceutical industry. We provide more effective and accessible therapy and innovative medicines to fulfill global medical needs. Since 2017, an advanced R&D system which covers target discovery, early discovery, druggability, preclinical, clinical research and manufacturing transformation was established. Mabwell has 16 pipeline products in different stages based on a world-class and state-of-the-art R&D engine, including 12 novel drug candidates and 4 biosimilars. We focus on the therapeutic areas of oncology, immunology, bone disorders, ophthalmology, hematology and infectious diseases, etc. Of these, 3 products have been approved and commercialized, 1 product has been filed for market approval, 3 products are in pivotal trials. We have also undertaken 1 national major scientific and technological special project for “Significant New Drugs Development”, 2 projects for National Key R&D Programmes, and multiple provincial and municipal science and technological innovation projects. Mabwell’s Taizhou factory possesses robust in-house manufacturing capability compliant with international GMP standards regulated by the NMPA, FDA and EMA, and has passed the EU QP Audit. The large-scale manufacturing base in Shanghai and the ADC commercialized manufacturing base in Taizhou are under construction. Our mission is “Explore Life, Benefit Health” and our vision is “Innovation, from ideas to reality”. For more information, please visit www.mabwell.com/en.

Forward-Looking Statements

This press release contains forward-looking statements including, but not limited to, the potential safety, efficacy, regulatory review or approval and commercial success of our product candidates and those relating to the Company’s product development, clinical studies, clinical and regulatory milestones and timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statements that are predictive in nature. “Forward-looking statements” are statements that are not historical facts and involve a number of risks and uncertainties, which may cause actual results to be materially different from any future results expressed or implied in the forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions and the negatives of those terms.

Forward-looking statements are based on the Company’s current expectations and assumptions. Forward-looking statements are subject to a number of risks, uncertainties, and other factors, many of which are beyond the Company’s control, including, but not limited to: environment; politic; economy; society; legislation; our dependence on our product candidates, most of which are still in preclinical or various stages of clinical development; our reliance on third-party vendors, such as contract research organizations and contract manufacturing organizations; the uncertainties inherent in clinical testing; our ability to complete required clinical trials for our product candidates and obtain approval from regulatory authorities for our product candidates; our ability to protect our intellectual property; the potential impact of COVID-19; the loss of any executive officers or key personnel. In case one or more of these risks or uncertainties deteriorate, or any assumptions are incorrect, the actual results may be seriously inconsistent with the stated results.

The Company cautions all the persons not to place undue reliance on any such forward-looking statements, which speaks only as of the date of this press release. The Company disclaims any obligation, except as specifically required by law and the rules of the applicable Stock authority to publicly update or revise any such statements to reflect any change in expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. All forward-looking descriptions, figures and assumptions in this press release are applicable to this statement.

LILYSILK Unveils Breathable, Stretchable, and Machine-Washable Silk Jersey Collection for Summer 2025

NEW YORK, May 23, 2025 /PRNewswire/ — LILYSILK, the world’s leading silk brand dedicated to inspiring people to live spectacular, sustainable lives, is proud to unveil its latest innovation: the Silk Jersey Capsule Collection, available online starting May 23. Combining the softness of knitwear with the elegance of silk, the new line redefines everyday luxury with seven versatile, breathable pieces designed for the summer season.

LILYSILK Unveils Breathable, Stretchable, and Machine-Washable Silk Jersey Collection for Summer 2025
LILYSILK Unveils Breathable, Stretchable, and Machine-Washable Silk Jersey Collection for Summer 2025

At the heart of this collection is Silk Jersey, a fabric crafted using natural protein fibers and a specialized weaving technique that brings together the best of both worlds: the stretch and softness of jersey with the breathability and sheen of high-grade silk. Lightweight, cool to the touch, and hypoallergenic, Silk Jersey offers a luxuriously comfortable experience ideal for warmer weather.

LILYSILK’s Silk Jersey is lighter than cotton and cooler than linen, making it a smart, stylish choice for those seeking comfort without compromising elegance. Crafted from 6A-grade mulberry silk, the brand has enhanced the material’s durability with added stretch and machine-washable functionality — turning timeless silk into an easy-care staple.

The seven-piece capsule includes five t-shirts, one shirt, and one skirt. Each piece blends form with function, offering refined silhouettes that complement modern lifestyles.

  • Slim Fitted Silk Jersey Tee: Designed to flatter with a slim fit and balanced length, this tee accentuates the figure while staying breathable and fresh. Available in four colors, it embodies quiet confidence and everyday grace.
  • Oversized Silk Jersey Tee: Draped and effortless, this tee transitions effortlessly from day to night, offering understated elegance in three calming tones.
  • Silk Jersey Cowl-Neck Sleeveless Top: Featuring a deep, structured cowl neckline and hidden anti-slip tape, this top layers beautifully under summer jackets for a refined yet comfortable look.

“As we welcome the summer season, I’m proud to unveil our Silk Jersey Capsule Collection, which embodies the essence of LILYSILK: innovation, elegance, and intention,” said David Wang, CEO of LILYSILK. “By reimagining the properties of silk with a breathable knit structure, we’ve created timeless garments that move with you, from sunlit mornings to starlit evenings.”

This summer, LILYSILK invites consumers to embrace luxurious self-care through thoughtful clothing that fits both body and lifestyle — whether traveling, working, or unwinding at home.

For more information, please visit www.lilysilk.com or follow LILYSILK on Instagram and Facebook.

Trading With Confidence: Bybit Offers Zero-Loss Coverage and Educational Rewards

DUBAI, UAE, May 23, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has renewed its offers for trading beginners in a bundle of first-trade coverage and rewards this summer. The five-track Fearless Futures initiative has something to offer in every stage of crypto trading—from research to futures trading.

Modeled after fitness coaching, Fearless Futures is a supportive package for fresh traders and learners starting their crypto trading journey. The comprehensive loss protection and rewards program offers derisking opportunities for first-time traders in sync with the market-wide rally, with BTC pushing above 100K and ETH regaining investor favor. Sophisticated product suites and knowledge sharing are becoming increasingly accessible to everyday traders, and Bybit continues to support the crypto community with professional-grade tools and flawless execution with millisecond precision. 

From now until June 30 or until prize pools are fully unlocked, eligible Bybit users will enjoy exclusive protection and rewards as they advance their trading levels:

  1. A Zero-Risk Introduction to Futures Trading: Eligible user’s first Futures trade will be covered up to 50 USDT at Bybit should a loss occur. Vouchers are available for first-time Futures traders on Bybit until June 30, 2025. 
  2. Carefree Copy Trading: New followers of Master Traders may claim up to 100 USDT in loss protection for Copy Trading. This welcome offer not only takes away the pressure of strategizing, but also reduces volatility risks. Copy Trading Vouchers can be used as margin and are up for grabs until December 30, 2025.
  3. Gold & FX Copy Trading: Another Copy Trading product tailored for Gold and FX matched the limited-time offer for first-time traders until June 30, 2025.
  4. It Pays to Learn: Before diving into trading, beginners may explore Bybit’s Read-to-Earn initiative and get the basics down while dividing up a 18,000 USDT prize pool.
  5. Bonus Community Challenge: Signing up for the Bybit Learn Community will qualify eligible users for the Community Futures Challenge. The gamified experience incentivizes knowledge sharing and community engagement with a 2,500 USDT weekly prize pool, to be shared by top contributors in the leaderboard.

The campaign benefits Bybit users at a strategic juncture when the crypto market continues its upward trajectory. Supporting the broader crypto community since 2018, Bybit aspires to help its users navigate volatility responsibly, become better traders, and be part of their progress.

Trading With Confidence: Bybit Offers Zero-Loss Coverage and Educational Rewards
Trading With Confidence: Bybit Offers Zero-Loss Coverage and Educational Rewards

Registration and task fulfilments are required, and terms and conditions apply. For details, users may visit: Fearless Futures | Trade with Confidence, Not Consequence.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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Former Pakistan Central Bank Governor Yaseen Anwar Visits FinVolution, Highlights Tech for Inclusion

SHANGHAI, May 23, 2025 /PRNewswire/ — Former Governor of the State Bank of Pakistan, Yaseen Anwar, visited FinVolution Group’s headquarters from May 22 to 23, delivering a keynote address on the critical role of technology in driving financial inclusion and navigating global economic uncertainty.

During the visit, Mr. Anwar held in-depth discussions with FinVolution’s senior leadership and employee representatives on macroeconomic trends, fintech innovation, and the company’s global expansion strategy.

 

In his speech, Mr. Anwar emphasized that technology is not merely a tool for efficiency, but a strategic asset for managing uncertainty. “Technology has become a powerful enabler amid global volatility,” he said. He noted that tech-driven financial solutions are increasingly recognized worldwide, especially for their impact in broadening access to finance in developing markets. He also pointed to regional integration as a key pathway for mitigating external shocks and unlocking new growth opportunities for globally oriented, innovative enterprises like FinVolution.

Mr. Anwar praised FinVolution’s strong technical capabilities and culture of innovation, encouraging the company to remain steadfast in its mission to promote inclusive and sustainable financial services.

As a fintech enterprise combining advanced technology with localized operations, FinVolution continues to expand its presence across the Asia-Pacific under its “Deep Localization + Global Expansion” strategy. Since launching its globalization efforts in 2018, the company has built localized fintech platforms in Indonesia, the Philippines, and Pakistan, and is actively growing its tech service footprint in regions such as Latin America. As of Q1 2025, FinVolution had served more than 7.6 million users overseas, with international business contributing 20.4% of its quarterly revenue.

Mr. Anwar’s visit further affirms FinVolution’s commitment to leveraging technology to foster regional connectivity and financial empowerment. The company reiterated its openness to global collaboration and its goal of sharing its fintech capabilities to meet the rising demand for inclusive financial services worldwide.

Tongcheng Travel 2025Q1 Secures Foothold in the Mass Travel Market Revenue Grows 13.2% Yoy to RMB4.4 Billion

Rising Travel Spending Boosts Core OTA Business Growth

AI Empowers High-Quality Development Across the Travel Industry Chain

HONG KONG, May 23, 2025 /PRNewswire/ — Tongcheng Travel Holdings Limited (“Tongcheng Travel” or the “Company”, together with its subsidiaries the “Group”, stock code: 0780.HK), an innovator and leader in China’s online travel industry, today announced its unaudited consolidated results for the three months ended 31 March 2025 (the “period under review” or “2025Q1”).

202 5Q1 Results Highlights with Year-on-year (yoy) Change

Continued Growth Momentum in Revenue and Adjusted Net Profit

●       Revenue increased by 13.2% yoy to RMB4,377.4 million

●       Adjusted EBITDA increased by 41.3% yoy to RMB1,159.4 million, adjusted EBITDA margin increased 5.3 percentage points yoy to 26.5%

●       Adjusted net profit increased by 41.1% yoy to RMB788.2 million, adjusted net margin increased 3.6 percentage points yoy to 18.0%

User Base and User Value Consistently Grew

●       Monthly paying users (MPUs) for the first quarter increased by 9.2% yoy to 46.5 million, reaching a record high

●       Annual paying users (APUs) increased by 7.8% yoy to 247.3 million, setting another record

●       Accumulated number of travelers served in the 12-month period increased by 7.3% yoy to 1,959.5 million

Soild Growth in Core OTA Business

●       Revenue of core OTA business increased by 18.4% yoy to RMB3,792.4 million

‣      Revenue from transportation ticketing services increased by 15.2% yoy to RMB 2,000.2 million, with international air ticket volume recording a growth rate of over 40% yoy

‣      Revenue from accommodation reservation services increased by 23.3% yoy to RMB1,189.6 million, with international hotel room nights sold registering a yoy increase of over 50%

‣      Revenue from other businesses increased by 20.0% yoy to RMB602.6 million

Mr. Ma Heping, Executive Director and Chief Executive Officer of Tongcheng Travel, said, “Since the beginning of 2025, China’s travel market remained steady growth, driven by the release of diversified travel demand and the continuous rise in consumption power in non-first tier cities in China. We maintain an optimistic outlook on the growth of China’s travel industry in 2025 and remain confident in the growth prospects of the outbound travel market this year. Looking ahead, Tongcheng Travel will continue to deepen its presence in the mass travel market and actively invest in AI capabilities, delivering smarter and more efficient travel services to the public while contributing to the high-quality development of the travel industry.”

Deepened Presence in the Mass Travel Market with Record Number of Annual Paying Users
Through effective user acquisition and user engagement initiatives, Tongcheng Travel continued to expand its user base and drive improvements in user value. Leveraging efficient traffic acquisition strategies and exceptional operational capabilities, the Group continued to gain users and further expanded its influence in the mass market in China. For the first quarter of 2025, the Group’s MPUs increased by 9.2% yoy to 46.5 million and APUs increased by 7.8% yoy to 247.3 million, both recorded historic highs with twelve-month Accumulated Number of Travelers Served increased by 7.3% yoy to 1,959.5 million.

Tongcheng Travel not only diversified its traffic sources by exploring the potentials of various channels, but also focused on improving operational efficiency to enhance conversion. Under the stable cooperation with Tencent, the Group remained focused on enhancing its operating efficiency within the Weixin ecosystem, which continued to serve as a vital source of traffic for the Group. Meanwhile, the Group’s proprietary APP also made notable progress, attracting a significant number of younger users through continuous product refinement and interactive marketing campaigns. For the first quarter of 2025, the DAUs of the standalone APP continued to exhibit strong growth momentum. Furthermore, the Group has stepped up the distribution of creative content on social media platforms to boost user engagement and user stickiness. As of 31 March 2025, over 87% of registered users resided in non-first tier cities in China. During the period under review, over 68% of new paying users on the Weixin platform were from non-first tier cities in China.

Enhanced Travel Spending Drove Core OTA Business Growth
During the period under review, China’s travel demand shifted from “essential travel” to “leisure and vacation”. In order to meet the diverse mass travel demand, Tongcheng Travel focused on the “first mile” and “last mile” of user journeys, building a comprehensive travel product system. Driven by ongoing enrichment of the value-added product and service offerings, as well as a stronger focus on the ROI of marketing investments, the Group registered solid growth for its core OTA business. Revenue from transportation ticketing services increased by 15.2% yoy to RMB2,002.2 million. Benefiting from the effective execution of international expansion strategy and optimized efficiency of user subsidies, the Group’s international air ticketing volume increased by more than 40% yoy. As for the train ticketing business, Tongcheng Travel remained concentrated on enhancing user experience by leveraging its algorithm-driven Huixing system, in an effort to better meet user demand. As a result, the train ticketing business improved its monetization capability and recorded a stable growth.

The Group’s accommodation business also delivered impressive results in business volume and revenue. On one hand, the Group continued to implement its cross-selling strategies by utilizing the vast traffic from the transportation business. On the other hand, the Group closely monitored evolving user demands and actively explored emerging accommodation reservation scenarios to capture new growth opportunities, such as entertainment and sport events. Revenue from the accommodation business increased by 23.3% yoy to RMB1,189.6 million. In addition, Tongcheng Travel further deepened cooperation with international hotel suppliers and expanded the coverage of its product and service offerings, with the aim of strengthening price competitiveness as well as user engagement. Therefore, the Group’s international hotel room nights sold maintained a strong growth momentum during the period under review, with a yoy growth rate exceeding 50%.

The Group’s other businesses demonstrated solid performance. Revenue from the other businesses achieved RMB602.6 million with a 20.0% yoy growth, driven by strong performance in the hotel management business and PMS business. By the end of March 2025, the number of hotels in operation that have joined the eLong Hotel Technology Platform has risen to over 2,500, with over 1,400 more in the pipeline.

Advanced Technology Enabled Industry Transformation
AI Ushered in the New Era of Smart Travel
Tongcheng Travel is dedicated to empowering industry partners and delivering exceptional experiences to its users with its profound internet expertise and advanced technologies. During the period under review, the Group initiated a strategic collaboration with China United Airlines Co., Ltd, aiming to fully leverage its advantages in membership marketing, technology and customer service to conduct joint marketing campaigns across online and offline channels. Additionally, Tongcheng Travel entered into a strategic cooperation with Wuhan Tianhe International Airport. By leveraging its big data capabilities, the Group will help the airport optimize its flight planning as well as enhance its brand awareness. Moreover, the Group will also deepen collaborations in areas such as marketing, connecting flights and membership programs.

As a technology-driven company, Tongcheng Travel strategically integrated emerging technologies to deliver seamless and comfortable travel experiences for its users. During the period under review, the Group upgraded its proprietary tourism-specific large language model Chengxin and launched the AI agent DeepTrip, which integrates the reasoning capabilities of DeepSeek and the supply chain advantages of its OTA platform. Not only can DeepTrip assist users in planning complex travel itineraries but also enable direct access to booking services on its platform, creating a seamless transaction loop. In addition, the Group has equipped its employees with a series of generative AI tools to further enhance internal efficiency. For coding tasks, generative AI has greatly reduced the staff’s workload. In customer service, the Group has utilized the reasoning capabilities of generative AI to address user requests more effectively and efficiently. Currently, generative AI handles a meaningful portion of online inquiries related to accommodation reservations and will be applied to more scenarios in the coming quarters.

Furthermore, HopeGoo, the new international online travel booking platform under Tongcheng Travel, has been in full operation. It provides reservation services in six key areas including flights, hotels, train tickets, tickets, ferry tickets, and local activities, and supports payments in 16 currencies and multiple languages. Meanwhile, some hotel brands under eLong Hotel Technology, the hotel technology platform of Tongcheng Travel, have expanded to countries including Japan, Malaysia and Indonesia, aiming to provide diverse and high-quality accommodation experiences for global consumers.

Looking ahead, Tongcheng Travel will continue to strengthen its core competitiveness and actively seize new market opportunities to achieve sustainable growth. While expanding the user base, the Group will prioritize enhancing user value by enriching its product offerings, improving user experience and enhancing user loyalty. At the same time, the Group will continue to advance its outbound travel business to expand its global footprint. Furthermore, the Group will persist in developing its hotel management business to further strengthen its presence across the industry chain. Moreover, the Group will pursue strategic investment opportunities aligned with its long-term objectives to fuel future growth. Finally, Tongcheng Travel will place emphasis on corporate governance, environmental protection, and social responsibility in its operations to generate sustainable value for all stakeholders.

– End –

About Tongcheng Travel Holdings Limited (HKSE Stock Code: 0780.HK)

Tongcheng Travel is a one-stop shop for users’ travel needs. With the mission “make travel easier and more joyful”, Tongcheng Travel offers a comprehensive and innovative selection of products and services covering nearly all aspects of travel, including transportation ticketing, accommodation reservation, tourist attraction ticketing, and products including package tour, self-guided tour and cruise, including a wide array of transportation and leisure travel scenarios primarily through its online platforms, which comprise its Tencent-based platforms, its proprietary mobile Apps, quick Apps and other channels.

As a technology-driven company, Tongcheng Travel leverages big data and AI capabilities to better understand the preferences and behaviors of users, thereby offering users customized products and services. Tongcheng Travel has a strategic focus on lower-tier cities in China and seized opportunities there supported by its diversified traffic sources, product innovation capability and flexible operation strategies. Through the in-depth understanding of user experience and advanced technological capabilities, Tongcheng Travel has been revolutionizing what consumers expect from the online travel industry, making the entire travel process more convenient, personalized and enjoyable than ever. Tongcheng Travel aims to develop and apply its advanced technology to transform from an online travel agency to an intelligent travel assistant.

For more information, please visit the Group’s website at https://www.tongchengir.com

Leptage Debuts at TOKEN2049 Dubai: Showcasing Innovations in Web3 Infrastructure

WARSAW, Poland, May 23, 2025 /PRNewswire/ — Leptage, a modern fintech platform catering to global ambition, recently made its significant debut at TOKEN2049 Dubai, one of the most anticipated global crypto events in the Web3 ecosystem. Through its active participation at the event, Leptage captivated both attendees and industry leaders, marking an important step in expanding its presence within the global crypto community.

Hosted at the prestigious Madinat Jumeirah from April 30 to May 1, TOKEN2049 Dubai attracted over 15,000 participants from more than 160 countries, including industry pioneers, innovators, regulators, developers, and institutional investors. Leptage’s involvement went beyond sponsorship, reflecting the company’s ongoing commitment to advancing industry knowledge, fostering regional growth, and supporting community empowerment. TOKEN2049 served as a valuable platform for exchanging insights and driving innovation, echoing the vision that Leptage continues to champion.

At TOKEN2049, Leptage introduced key updates to its core infrastructure products, reflecting its continued innovation in shaping the future of crypto transactions and blockchain technology. The enhanced Ramping service enables real-time fiat-to-crypto conversions across more than 180 countries, while Treasury delivers more agile and secure management of stablecoins and digital assets. CardLink, a cutting-edge crypto wallet management infrastructure that provides seamless and secure integration for crypto card services. These updates demonstrate Leptage’s commitment to providing seamless, compliant, and scalable pathways that bridge Web2 and Web3.

Leptage’s participation at TOKEN2049 Dubai marked a pivotal step in its global journey. Leptage continues to bridge Web2 and Web3 with cutting-edge solutions that drive real-world adoption. Looking ahead, Leptage remains focused on advancing blockchain technology and shaping the next wave of Web3 innovation.

About Leptage

Leptage is a modern fintech platform catering to global ambition.

Regulated in Poland, our headquarters is situated in Warsaw. We have expanded our operations to include strategic teams in Hong Kong, the United Kingdom, and Singapore. Our international footprint is a testament to our commitment to serving clients worldwide.

At Leptage, we pride ourselves on providing fully compliant, cutting-edge solutions that harmoniously integrate advanced technology with a user-centric design. We aim to build a more secure, efficient, and seamless financial landscape by breaking down barriers and bridging gaps for boundless businesses.

www.leptage.com