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EVE Energy Achieves World’s First 400MWh Energy Storage Project with 628Ah Ultra-Large Cells

WUHAN, China, Sept. 20, 2025 /PRNewswire/ — As a pioneer in big-batteries technology, EVE Energy has set a new industry milestone, building on its prior success in both launching and mass-producing big cells. The world’s first 400MWh energy storage project using 628Ah ultra-large cells has been successfully connected to the grid at Phase II of the Ruite New Energy Project in Lingshou, Hebei, China. This accomplishment not only demonstrates EVE’s full capability from R&D to deployment of high-capacity cells, but also marks the official arrival of the big-batteries era in energy storage.

Breaking New Ground: Large-Cell Technology Enables Scalable Applications

Amid global energy transformation, energy storage systems are rapidly advancing in scale and market readiness. Cells exceeding 600Ah are now key to improving energy density, reducing lifecycle costs, and enhancing safety and reliability.

On September 8, the Lingshou 200MW/400MWh standalone energy storage project—jointly developed by EVE Energy and State Grid Power Technology—was successfully energized. It represents the world’s first large-scale application of 628Ah cells in a 100MWh-level facility, setting a new benchmark for the industry.


Rapid Deployment and Reliable Operation

EVE Energy delivered and grid-connected 80 Mr.Giant energy storage systems and 40 integrated converter cabins within just one week, demonstrating exceptional project execution capabilities. From quality control and engineering coordination to system commissioning and operational support, EVE Energy has proven the maturity and feasibility of big-batteries technology.

Supporting the Modern Grid and Accelerating Energy Transition

As the world’s first operational 100MWh-scale large-cell storage project, it provides critical practical experience for large-scale applications, significantly improves regional grid peak-shaving and frequency regulation, increases power supply reliability and renewable energy integration, and supports Hebei Province’s energy structure optimization and carbon goals.

Going Global: Mr.Giant Ships Overseas

Going globle.The energy storage system Mr. Giant, equipped with 628Ah cells, completed its first batch of overseas shipments to Australia and Europe on September 10. With its minimalist design, high efficiency, low noise (≤65dB), and suitability for 4+ hour long-duration storage, Mr.Giant has gained international recognition—marking the global expansion of China’s large-cell technology.


From the first grid connection to international delivery, EVE Energy has not only realized the full-market application of 628Ah cells but also propelled the industry into a more efficient, economical, and reliable new phase.

Reliable Energy Storage with EVE’s Big Batteries. Moving forward, EVE will continue to leverage its technology-driven and manufacturing-led strategy, collaborating with global partners to advance green energy transition.

Casekoo Tops 1.27 Million Magic Stand Case Sales

NEW YORK, Sept. 20, 2025 /PRNewswire/ — CASEKOO, a leading innovator in premium smartphone protection, today announced the remarkable sale of over 1.27 million units of its Magic Stand Case across the United States since it went live in 2021. This sales milestone was driven by overwhelming consumer demand for its newly designed cases, engineered specifically for the groundbreaking iPhone 17 series.

The Best-Selling Magic Stand Cases
The Best-Selling Magic Stand Cases

The newly launched cases feature two revolutionary technologies: the proprietary DCover (Detailed Defence) Technology for ultimate camera protection and the luxurious Nubuck Texture Frame for a superior in-hand feel.

The DCover Technology represents a significant leap in lens protection. It employs a layered defense system with a shock-absorbent inner core and a scratch-resistant outer ring, shielding the iPhone 17’s advanced camera array from impacts, scratches, and everyday wear without compromising on photographic clarity.

Another breathtaking innovation is the Nubuck Texture Frame. This design provides a uniquely soft, matte finish that mimics the premium feel of real leather for the signature Matte Magic Stand collection. It offers exceptional grip, resists fingerprints, and delivers a sophisticated tactile experience that is both elegant and secure.

The most famous technology from CASEKOO is still its Magic Stand — a signature built-in kickstand made from aerospace-grade aluminum. The case offers hands-free viewing without compromising MagSafe compatibility for effortless charging and accessory attachment, and features its Advanced U-SHOCK 3.0 airbag for military-grade drop protection.

“We are thrilled and humbled by the market’s response to our new Magic Stand Case for the iPhone 17,” said Charlotte, the PR for CASEKOO. “This incredible achievement of 1.27 million units sold is a direct testament to our commitment to innovation, quality, and understanding what modern smartphone users want: unparalleled protection without sacrificing style or functionality. The integration of DCover Technology and the Nubuck Texture Frame demonstrates our dedication to leading the market with cutting-edge designs.”

About CASEKOO
CASEKOO is dedicated to creating high-quality, innovative, and stylish protective cases for mobile devices. By blending advanced engineering with sophisticated design, CASEKOO products offer users a perfect balance of durability, functionality, and aesthetic appeal. The company’s mission is to empower people to use their technology fearlessly, anywhere and everywhere. 

CASEKOO promises to make more than a case. For more information on CASEKOO and its full range of products, please visit casekoo.com.

 

PINTEC ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE FIRST HALF OF 2025

BEIJING, Sept. 20, 2025 /PRNewswire/ — Pintec Technology Holdings Limited (Nasdaq: PT) (“Pintec” or the “Company”), a Nasdaq-listed company providing technology enabled financial and digital services to micro, small and medium enterprises in China, today announced its unaudited financial results for the six months ended June 30, 2025.

First Half 2025 Financial Highlights

  • Total revenues increased by 2.71% or RMB0.40 million to RMB15.33 million (US$2.14 million) for the first half of 2025 compared to total revenues of RMB14.92 million for the same period of 2024.
  • Gross profit increased by 4.88% to RMB9.34 million (US$1.30 million) for the first half of 2025 from RMB8.90 million for the same period of 2024. Gross margin was 60.92% for the first half of 2025 compared to 59.66% for the same period of 2024.
  • Loss from operations decreased by 5.17% to RMB7.21 million (US$1.01 million) for the first half of 2025 from RMB7.61 million for the same period of 2024.
  • Net loss decreased by 43.26% to RMB4.73 million (US$0.66 million) for the first half of 2025 compared to net loss of RMB8.34 million for the same period of 2024.

First Half 2025 Operating Highlights

  • Total loans facilitated decreased by 13.00% to RMB40.17 million (US$5.61 million) for the first half of 2025 from RMB46.17 million for the same period of 2024.
  • Loan outstanding balance decreased by 19.11% to RMB53.13 million (US$7.42 million) as of June 30, 2025 from RMB65.68 million as of December 31, 2024.
  • The following table provides delinquency rates by balance for all loans facilitated by the Company as of the dates indicated:

Delinquent for

16-30 days

31-60 days

61-90 days

December 31, 2022

0.23

%

0.58

%

0.18

%

December 31, 2023

0.26

%

0.22

%

0.27

%

December 31, 2024

0.04

%

0.58

%

1.39

%

June 30, 2025

0.31

%

0.42

%

1.28

%

Mr. Zexiong Huang, Chief Executive Officer of Pintec, commented, “In the first half 2025, Pintec navigated a complex and challenging environment. Despite headwinds from evolving industry policies, regulatory adjustments, and a slowing global economy, we succeeded in identifying and capturing new opportunities—especially in our international business.”

“We have maintained an unwavering focus on boosting operational efficiency, strengthening risk management, and streamlining costs. These efforts have solidified our financial position and allowed us to respond rapidly to shifting market conditions. International expansion is a case in point: leveraging our technological edge and unique value proposition, we are preparing to enter multiple new global markets with deep engagement. These initiates show significant potential and are expected to contribute meaningfully to growth in the coming quarters.”

“Although global economic recovery remains sluggish and market risks fluctuate, our prudent risk management continues to be a cornerstone of stability—critical to sustainable development. We believe that maintaining robust financial performance, underpinned by high-quality assets, is key to seizing long-term global growth opportunities.”

“Looking ahead, we will double down on our core strategy. In this uncertain macroenvironment, financial stability and risk management remain top priorities. We will pursue sustainable growth by delivering innovative financial digitization solutions to partners, financial institutions, and end customers, with quality-led development guiding all efforts. To this end, we will enhance comprehensive risk management, expand our customer base, strengthen strategic partnerships, optimize operations, and implement cost-effective measures. We are confident that these actions will fuel stronger performance going forward.” Mr. Huang concluded.

First Half 2025 Financial Results

Revenues

Total revenues increased by 2.71% to RMB15.33 million (US$2.14 million) for the first half of 2025 from RMB14.92 million for the same period of 2024. The increase was mainly attributed to increases of RMB0.38 million and RMB0.10 million in revenues from technical service fees and installment service fees, respectively, offset by the decrease of RMB0.07 million in revenue from wealth management service fees and others.

Cost of Revenues

Cost of revenues decreased by 0.50% to RMB5.99 million (US$0.84 million) for the first half of 2025 from RMB6.02 million for the same period of 2024. This decrease was mainly attributable to the decrease of RMB1.18 million in origination and servicing cost, offset by the increase of RMB0.38 million in provision of credit losses and the decrease of RMB0.77 million in recovery of guarantee.

Gross Profit

Gross profit increased to RMB9.34 million (US$1.30 million) for the first half of 2025 from RMB8.90 million for the same period of 2024. Gross margin was 60.92% for the first half of 2025, compared to 59.66% for the same period of 202, reflecting a stable gross profit performance across periods.

Operating Expenses

Total operating expenses increased by 0.25% to RMB16.55 million (US$2.31 million) for the first half of 2025 from RMB16.51 million for the same period of 2024. The Company has been continuously optimizing and refining its organizational structure, marketing strategies and product matrix.

  • Sales and marketing expenses for the first half of 2025 decreased by 4.54% to RMB8.15 million (US$1.14 million) from RMB8.54 million for the same period of 2024. This decrease was primarily due to the decrease in marketing consulting expenditures.
  • General and administrative expenses for the first half of 2025 increased by 5.68% to RMB6.03 million (US$0.84 million) from RMB5.71 million for the same period of 2024. This increase was primarily due to the increase in professional service fees.
  • Research and development expenses for the first half of 2025 increased by 4.64% to RMB2.37 million (US$0.33 million) from RMB2.26 million for the same period of 2024. The slight increase was primarily due to the increase in salary and welfare for research and development department.

Loss from operations

Loss from operations decreased by 5.17% to RMB7.21 million (US$1.01 million) for the first half of 2025 from RMB7.61 million for the same period of 2024.

Income tax (expense)/benefit

The Company recorded income tax benefit of RMB1.82 million (US$0.25 million) for the first half of 2025, compared to income tax expense of RMB0.46 million incurred for the first half of 2024.

Net loss

As a result of the foregoing, net loss was RMB4.73 million (US$0.66 million) for the first half of 2025, compared to RMB8.34 million for the same period of 2024.

Net loss attributable to ordinary shareholders was RMB4.88 million (US$0.68 million) for the first half of 2025, compared to net loss attributable to ordinary shareholders of RMB8.43 million for the same period of 2024.

Adjusted net loss was RMB6.84 million (US$0.96 million) for the first half of 2025, compared to RMB8.34 million for the same period of 2024.

Net Loss Per Share

Basic and diluted net loss per ordinary share for the first half of 2025 were both RMB0.01 (US$0.00). Basic and diluted net loss per American Depositary Share (“ADS”) for the first half of 2025 were both RMB0.31 (US$0.04). Each ADS represents thirty-five of the Company’s Class A ordinary shares.

Adjusted basic and diluted net loss per ordinary share for the first half of 2025 were both RMB0.01 (US$0.00). Adjusted basic and diluted net loss per ADS for the first half of 2025 were both RMB0.44 (US$0.06).

Balance Sheet

The Company has an aggregate of cash and cash equivalents and long-term restricted cash of RMB38.90 million (US$5.43 million) as of June 30, 2025, compared to RMB31.95 million as of December 31, 2024.

Going Concern

The Company acknowledged that there were recurring losses from operation since 2019. For the six months ended June 30, 2025, the Company reported a net loss of RMB4.73 million (US$0.66 million). In addition, as of June 30, 2025, the Company reported a negative working capital of RMB403.79 million (US$56.37 million) and had an accumulated deficit of RMB2,533.38 million (US$353.65 million). The Company’s operating results in future periods are subject to numerous uncertainties, and it is uncertain whether the Company will be able to reduce or eliminate its net loss in the foreseeable future. To alleviate pressure on capital turnover, the Company has entered into an agreement with a third-party institution to obtain a line of credit facility of up to US$40 million, with annual interest rate of 7% when drawn.

Due to the uncertainty of future capital markets and the industry in which we operate, there is no assurance that the Company will achieve its budget goals, that future capital raising will be sufficient to support the Company’s ongoing operations, or that any additional financing will be available in a timely manner or on acceptable terms, if at all. Failure to raise sufficient financing or the occurrence of events or circumstances that prevent the Company from meeting its budget goals, could have a material adverse effect on the Company’s financial position, results of operations, cash flows, and ability to achieve its intended business objectives. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The condensed consolidated financial statements have been prepared on a going concern basis, which assumes the realization of assets and the satisfaction of liabilities in the normal course of business. Such realization and satisfaction  are dependent, among other things, on the Company’s ability to operate profitably, generate cash flows from operations, and secure financing arrangements to support its working capital requirements.

Related party transaction

A shareholder who also serves as a board member of the Company transferred its equity interests in Jimu Group to a third party and resigned from its key position at Jimu Group. In January 2025, the Company noted and verified this change and further assessed whether any other directors and key management personnel of the Company were related parties of Jimu Group, noting none. Accordingly, the Company concluded that Jimu Group  ceased to be a related party of the Company as of January 1, 2025.

Subsequent event

On September 3, 2025, the Company entered into a share transfer agreement with ZIITECH PTY LTD (“ZIITECH”) and certain shareholders of ZIITECH (“Transferors”). Under the share transfer agreement, the Transferors agreed to transfer an aggregate of 715,521 ordinary shares of ZIITECH, representing approximately 25% equity interest in ZIITECH, to the Company, in exchange for an aggregate of 83,726,789 Class A ordinary shares of the Company. On the same day, the Company entered into a share purchase agreement with each Transferor, under which the Company agreed to sell and issue an aggregate of 83,726,789 Class A ordinary shares to such Transferors or the persons designated by the Transferors. The transactions were completed as of the issuance of the earning release for the six months ended June 30, 2025. Under the shareholders’ agreement, the Company is entitled to appoint two-thirds of the directors of ZIITECH, and most significant financial and operating activities are solely decided by the board, as such the two directors representing the Company can control ZIITECH’s operation through the board. Upon completion of the transactions, the Company consolidates ZIITECH’s financial statements pursuant to agreements with shareholders of ZIITECH.

Use of Non-GAAP Financial Measures

In evaluating its business, the Company considers and uses adjusted net income/loss as a supplemental measure to review and assess its operating performance. The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines adjusted net income/loss as net income/loss excluding share-based compensation expenses and income tax benefit recognized due to reversal of uncertain tax position.

The Company believes that this non-GAAP financial measure can help management evaluate the Company’s operating performance and formulate business plans. Adjusted net income/loss enables management to assess operating results without considering the impact of share-based compensation expenses and income tax benefit recognized due to reversal of uncertain tax position. The Company also believes that this non-GAAP financial measure provides useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allows for greater visibility with respect to key metrics used by management in their financial and operational decision-making.

This non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. This non-GAAP financial measure has limitations as an analytical tool. One of the key limitations of using adjusted net income/loss is that it does not reflect all items of income and expenses that affect the Company’s operations. The Company will continue to incur share-based compensation expenses in its business, which are reflected in the presentation of its adjusted net income/loss. Further, this non-GAAP financial measure may differ from non-GAAP financial information used by other companies, including peer companies, and therefore its comparability may be limited.

The Company compensates for these limitations by reconciling this non-GAAP financial measure to the most directly comparable U.S. GAAP financial measure, net income/loss, which should be considered when evaluating the Company’s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.

Exchange Rate

This announcement contains translations of certain RMB amounts into U.S. dollars (“USD”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to USD were made at the rate of RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or USD amounts referred to could be converted into USD or RMB, as the case may be, at any particular rate or at all. For analytical presentation, all percentages are calculated using the numbers presented in the financial statements contained in this earnings release.

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,” “target,” “confident” and similar statements. Among other things, the quotations from management in this announcement, as well as Pintec’s strategic and operational plans, contain forward-looking statements. Pintec may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. 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, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, the Company’s limited operating history, regulatory uncertainties relating to the markets and industries where the Company operates, and the need to further diversify its financial partners, the Company’s reliance on a limited number of business partners, the impact of current or future PRC laws or regulations on wealth management financial products, and the Company’s ability to meet the standards necessary to maintain the listing of its ADSs on the Nasdaq Global Market, including its ability to cure any non-compliance with Nasdaq’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

About Pintec

Pintec is a Nasdaq-listed company providing technology enabled financial and digital services to micro, small and medium enterprises in China. It connects business partners and financial partners on its open platform and enables them to provide financial services to end users efficiently and effectively. Pintec empowers its business partners by providing them with the capability to add a financing option to their product offerings. It helps its financial partners adapt to the new digital economy by enabling them to access the online population that they could not otherwise reach efficiently or effectively. Pintec continues to deliver exceptional digitization services, diversified financial products, and best-in-class solutions with innovative technology, to solidify its relationship with its business partners and satisfy its clients’ needs. Pintec currently holds internet micro lending license, fund distribution license, insurance brokerage license and enterprise credit investigation license in China. For more information, please visit ir.pintec.com.

 

 

 

Pintec Technology Holdings Ltd.

Unaudited Condensed Consolidated Balance Sheets

(In thousands, except for share and per share data)

As of
December 31,

As of June 30,

2024

2025

2025

RMB

RMB

US$

ASSETS

Current assets:

Cash and cash equivalents

26,951

33,901

4,732

Short-term financing receivables, net

62,476

51,183

7,144

Accounts receivable, net

3,442

1,876

262

Prepayments and other current assets, net

1,609

1,764

247

Total current assets

94,478

88,724

12,385

Non-current assets:

Non-current restricted cash

5,000

5,000

698

Long-term financing receivables, net

1,625

1,116

156

Right-of-use assets, net

1,790

970

135

Other non-current assets

547

547

76

Total non-current assets

8,962

7,633

1,065

TOTAL ASSETS

103,440

96,357

13,450

LIABILITIES

Current liabilities:

Accounts payable

4,094

2,452

342

Amounts due to related parties, current

302,893

Tax payable

18,924

16,866

2,354

Accrued expenses and other liabilities

163,861

468,752

65,436

Short-term borrowings

1,825

2,865

400

Lease liabilities, current

1,658

1,577

220

Total current liabilities

493,255

492,512

68,752

Non-current liabilities:

Other non-current liabilities

4,106

3,546

495

Lease liabilities, non-current

1,198

454

63

Total non-current liabilities

5,304

4,000

558

TOTAL LIABILITIES

498,559

496,512

69,310

DEFICIT

Class A Ordinary Shares (US$ 0.000125 par value per share;
  1,750,000,000 shares authorized as of December 31, 2024 and June
  30, 2025; 503,747,680 and 503,747,655 shares outstanding as of
  December 31, 2024 and June 30, 2025)

454

454

63

Class B Ordinary Shares (US$ 0.000125 par value per share;
  250,000,000 shares authorized as of December 31, 2024 and June 30,
2025; 50,939,520 and 50,939,520 shares outstanding as of December 
  31, 2024 and June 30, 2025)

42

42

6

Additional paid-in capital

2,036,473

2,036,473

284,281

Statutory reserves

9,288

9,516

1,328

Accumulated other comprehensive income

73,143

72,841

10,168

Accumulated deficit

(2,528,273)

(2,533,377)

(353,646)

Total shareholders’ deficit

(408,873)

(414,051)

(57,800)

Non-controlling interests

13,754

13,896

1,940

TOTAL DEFICIT

(395,119)

(400,155)

(55,860)

TOTAL LIABILITIES AND DEFICIT

103,440

96,357

13,450

 

 

 

Pintec Technology Holdings Ltd.

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss

(In thousands, except for share and per share data)

For the six months ended June 30,

2024

2025

2025

RMB

RMB

US$

Revenues:

Technical service fees

2,658

3,035

424

Installment service fees

6,493

6,591

920

Wealth management service fees and others

5,771

5,700

795

Total revenues

14,922

15,326

2,139

Cost of revenues:

Provision of credit losses

(1,730)

(2,111)

(295)

Origination and servicing cost

(5,055)

(3,879)

(542)

Recovery of guarantee

765

Cost of revenues

(6,020)

(5,990)

(837)

Gross profit

8,902

9,336

1,302

Operating expenses:

Sales and marketing expenses

(8,537)

(8,149)

(1,138)

General and administrative expenses

(5,708)

(6,032)

(842)

Research and development expenses

(2,264)

(2,369)

(331)

Total operating expenses

(16,509)

(16,550)

(2,311)

Loss from operations

(7,607)

(7,214)

(1,009)

Financial income, net

132

139

19

Other (expenses)/income, net

(409)

526

73

Loss before income tax (expense)/benefit

(7,884)

(6,549)

(917)

Income tax (expense)/benefit

(459)

1,815

253

Net loss

(8,343)

(4,734)

(664)

Less: net income attributable to non-controlling interests

86

142

20

Net loss attributable to Pintec Technology Holdings Limited
shareholders

(8,429)

(4,876)

(684)

Other comprehensive loss:

Foreign currency translation adjustments, net of nil tax

(224)

(302)

(42)

Total other comprehensive loss

(224)

(302)

(42)

Total comprehensive loss

(8,567)

(5,036)

(706)

Total comprehensive income attributable to non-controlling interests

86

142

20

Total comprehensive loss attributable to Pintec Technology
   Holdings Limited shareholders

(8,653)

(5,178)

(726)

Net loss per ordinary share

Basic

(0.02)

(0.01)

(0.00)

Diluted

(0.02)

(0.01)

(0.00)

Weighted average ordinary shares outstanding

Basic

554,687,200

554,687,175

554,687,175

Diluted

554,687,200

554,687,175

554,687,175

 

 

 

Pintec Technology Holdings Ltd.

Unaudited Reconciliations of GAAP and Non-GAAP Results

(In thousands, except for share and per share data)

For the six months ended June 30,

2024

2025

2025

RMB

RMB

US$

Net loss

(8,343)

(4,734)

(664)

Add: Share-based compensation expenses

Less: Income tax benefit recognized due to reversal of uncertain tax
   position

2,102

293

Adjusted net loss

(8,343)

(6,836)

(957)

Less: Adjusted net income attributable to non-controlling interests

86

142

20

Adjusted net loss attributable to Pintec Technology Holdings Limited
  shareholders

(8,429)

(6,978)

(977)

Adjusted net loss per ordinary share

Basic and diluted

(0.02)

(0.01)

(0.00)

Weighted average number of ordinary shares outstanding

Basic and diluted

554,687,200

554,687,175

554,687,175

 

HUHUTECH International Group Inc. Announces First Half of Fiscal Year 2025 Financial Results

WUXI, China, Sept. 20, 2025 /PRNewswire/ — HUHUTECH International Group Inc. (Nasdaq: HUHU) (the “Company” or “HUHUTECH”), a professional provider of factory facility management and monitoring systems, today announced its unaudited financial results for the first half of fiscal year 2025 ended June 30, 2025.

Mr. Yujun Xiao, Chief Executive Officer of HUHUTECH, commented, “We are pleased to report a 10.9% increase in total revenue for the first half of fiscal year 2025, reaching $9.8 million. This growth is primarily driven by our strategic expansion into the Japanese market, where we have significantly increased our client base and project volume. Our Japanese subsidiary has completed 155 projects and contributed 60.9% of our total revenue in the first half of fiscal year 2025, a significant increase from 54 projects and 47.6% of total revenue in the same period last year. Excluding the impact of increased share-based compensation, our underlying business performance remained stable, and we are confident that our equity incentive plan is a long-term investment in our people that will enhance our ability to attract and retain talent, aligning our team’s commitment with the interests of our shareholders.”

Mr. Xiao continued, “In line with our global growth strategy, we have established a subsidiary in the United States and acquired our German subsidiary, extending our reach into two of the world’s most dynamic semiconductor markets. By providing comprehensive and localized system integration solutions, we are well positioned to empower the development of infrastructure for local semiconductor manufacturing clusters. Looking ahead, we will continue to invest in our international operations and expand our capabilities to serve an increasingly global customer base. We remain confident in our strategic direction and are committed to delivering growing long-term value to our shareholders.”

First Half of Fiscal Year 2025 Financial Summary

  • Total revenue was $9.8 million for the first half of fiscal year 2025, an increase of 10.9% from $8.9 million for the same period of last year.
  • Gross profit was $3.1 million for the first half of fiscal year 2025, compared to $3.2 million for the same period of last year.
  • Gross margin was 32.0% for the first half of fiscal year 2025, compared to 35.6% for the same period of last year.
  • Net loss was $8.7 million for the first half of fiscal year 2025, compared to net income of $0.8 million for the same period of last year.
  • Basic and diluted loss per share were $0.38 for the first half of fiscal year 2025, compared to basic and diluted earnings per share of $0.04 for the same period of last year.

First Half of Fiscal Year 2025 Financial Results

Revenues

Total revenue was $9.8 million for the first half of fiscal year 2025, an increase of 10.9% from $8.9 million for the same period of last year. The overall increase in total revenue was primarily attributable to a $0.7 million increase in revenue from system integration projects and a $0.4 million increase in revenue from product sales.

  • Revenue from system integration projects was $9.4 million for the first half of fiscal year 2025, an increase of 8.5% from $8.7 million for the same period of last year. The increase was due to the expansion of the Company’s business in the Japanese market for the first half of fiscal year 2025.  
  • The Company did not generate revenue from engineering consulting services for the first half of fiscal year 2025. Revenue from engineering consulting services was $0.2 million for the same period of last year. The decrease was mainly due to a shift of focus on system integration projects for first half of fiscal year 2025.
  • Revenue from product sales was $0.4 million for the first half of fiscal year 2025, an increase of 1,029.8% from $0.04 million for the same period of last year. The increase of product sales revenue was due to increase in product needs along with system integration projects for the first half of fiscal year 2025.

Cost of Revenues

Cost of revenue was $6.7 million for the first half of fiscal year 2025, an increase of 17.1% from $5.7 million for the same period of last year.

Gross Profit and Gross Margin

Gross profit was $3.1 million for the first half of fiscal year 2025, a decrease of 0.4% from $3.2 million for the same period of last year. Gross profit for system integration projects was $3.1 million for the first half of fiscal year 2025, an increase of 2.7% from $3.0 million for the same period of last year. Gross profit for product sales was $39,864 for the first half of fiscal year 2025, an increase of 296.7% from $10,049 for the same period of last year.

Gross margin was 32.0% for the first half of fiscal year 2025, decreased from 35.6% for the same period of last year.

Operating Expenses

Total operating expenses were $11.8 million for the first half of fiscal year 2025, an increase of 511.5% from $1.9 million for the same period of last year.

  • Selling expenses were $0.9 million for the first half of fiscal year 2025, an increase of 79.9% from $0.5 million for the same period of last year. The increase was mainly due to the operation increased business promotion expenses of HUHU Technology Co., Ltd. (“HUHU Japan”).
  • General and administrative expenses were $10.3 million for the first half of fiscal year 2025, an increase of 1,035.3% from $0.9 million for the same period of last year. The significant increase in G&A expenses was contributed by (i) an approximately $8.8 million increase in share-based compensation; (ii) an approximately $0.2 million increase in salary and compensation; (iii) an approximately $0.2 million increase in other items including lease expenses and office expenses.
  • R&D expenses stayed at $0.5 million for the first half of fiscal year 2025 and 2024.

Net Income (Loss)

Net loss was $8.7 million for the first half of fiscal year 2025, compared to net income of $0.8 million for the same period of last year.

Basic and Diluted Earnings (Loss) per Share

Basic and diluted loss per share were $0.38 for the first half of fiscal year 2025, compared to basic and diluted earnings per share of $0.04 for the same period of last year.

Financial Condition

As of June 30, 2025, the Company had cash of $3.0 million, compared to $3.1 million as of December 31, 2024.

Net cash used in operating activities for the first half of fiscal year 2025 was $0.5 million, compared to net cash provided by operating activities of $0.3 million for the same period of last year.

Net cash used in investing activities for the first half of fiscal year 2025 was $0.1 million, compared to $1.6 million for the same period of last year.

Net cash used in financing activities for the first half of fiscal year 2025 was $0.04 million, compared to net cash provided by financing activities of $3.0 million for the same period of last year.

About HUHUTECH International Group Inc.

HUHUTECH International Group Inc. is a professional provider of factory facility management and monitoring systems. Through its subsidiaries in China, Japan, the United States, and Germany, HUHUTECH designs and provides customized high-purity gas and chemical production system and equipment. The Company’s products mainly include high-purity process systems (HPS) and factory management control systems (FMCS), which effectively increase operation efficiency by using standardized module software. The modularity of HUHUTECH’s software solution reduces the errors caused by frequent updates of the program. As a nationally recognized brand, HUHUTECH serves major players in the pan-semiconductor industry. Its products and services are widely used by semi-conductor manufacturers, LED and micro-electronics factories, as well as some pharmaceutical, food and beverage manufacturers. For more information, please visit the Company’s website: ir.huhutech.com.cn.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” or other similar expressions in this announcement. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s Annual Report on Form 20-F and other filings with the U.S. Securities and Exchange Commission (“SEC”).

For more information, please contact:

HUHUTECH International Group Inc.
Investor Relations Department
Email: ir@huhutech.com.cn

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

 

 

 

HUHUTECH INTERNATIONAL GROUP INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

As of 

June 30,

As of

December 31,

2025

2024

(unaudited)

ASSETS

CURRENT ASSETS:

Cash

$

2,978,868

$

3,102,865

Restricted cash

57,151

220,261

Note receivable

6,587

254,092

Accounts receivable, net

11,170,072

9,633,289

Accounts receivable – a related party

950,052

—

Inventories

982,954

1,175,241

Advance to vendors

348,713

150,637

Prepayments and other assets, net

181,046

80,137

TOTAL CURRENT ASSETS

16,675,443

14,616,522

Property, plant and equipment, net

5,016,051

4,978,080

Intangible assets, net

65,793

79,985

Deferred tax assets

526,349

326,087

Right-of-use assets, net

168,375

183,815

TOTAL ASSETS

$

22,452,011

$

20,184,489

LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES:

Short term bank loans

$

2,861,690

$

5,273,678

Long-term bank loan – current

251,270

—

Loan payable from third-party

500,000

—

Notes payable

190,501

733,996

Accounts payable

5,014,033

4,466,933

Due to a related party

506,115

246,454

Advance from customers

2,028,683

1,403,628

Accrued expenses and other liabilities

1,398,421

732,419

Taxes payable

204,332

356,889

Operating lease liabilities – current

119,579

104,088

TOTAL CURRENT LIABILITIES

13,074,624

13,318,085

Long term bank loans

2,421,807

260,299

Operating lease liabilities – non-current

13,867

80,636

TOTAL LIABILITIES

15,510,298

13,659,020

COMMITMENTS AND CONTINGENCIES (Note 13)

SHAREHOLDERS’ EQUITY:

   Ordinary shares, $0.0000025 par value, 20,000,000,000 shares authorized,
      23,173,413 and 21,173,413 shares issued and outstanding as of June 30, 2025 and
      December 31, 2024, respectively

58

53

Additional paid-in capital

13,495,345

4,695,350

Statutory reserves

343,077

343,077

(Accumulated deficit) retained earnings

(6,704,455)

2,026,786

Accumulated other comprehensive loss

(192,312)

(539,797)

TOTAL SHAREHOLDERS’ EQUITY

6,941,713

6,525,469

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

$

22,452,011

$

20,184,489

 

 

 

HUHUTECH INTERNATIONAL GROUP INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(unaudited)

For the Six Months

Ended 

June 30,

2025

2024

Revenues – third parties

$

9,337,289

$

8,853,479

Revenues – related party

480,183

—

Total Revenues

9,817,472

8,853,479

Cost of revenues – third parties

6,533,648

5,137,460

Cost of revenues – related party

144,628

565,466

Total cost of revenues

6,678,276

5,702,926

Gross profit

3,139,196

3,150,553

Operating expenses:

Selling expenses

899,367

500,032

General and administrative expenses

10,330,446

909,952

Research and development expenses

520,479

511,674

      Total operating expenses

11,750,292

1,921,658

(Loss) Income from operations

(8,611,096)

1,228,895

Other income (expense):

Interest income

6,736

1,523

Interest expense

(64,246)

(49,185)

Other expense, net

2,051

(100,698)

      Total other expense, net

(55,459)

(148,360)

(Loss) income before income taxes

(8,666,555)

1,080,535

Provision for income taxes

64,686

231,208

Net (loss) income

(8,731,241)

849,327

Comprehensive income (loss)

Foreign currency translation adjustments

347,485

(336,141)

Comprehensive (loss) income

$

(8,383,756)

$

513,186

(Loss) earnings per share

Basic and diluted

$

(0.38)

$

0.04

Weighted average number of shares outstanding

Basic and diluted

23,018,717

20,000,000

 

 

 

HUHUTECH INTERNATIONAL GROUP INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

For the Six Months

Ended

June 30,

2025

2024

Cash flows from operating activities:

Net (loss) income

$

(8,731,241)

$

849,327

        Adjustments to reconcile net income to net cash (used in) provided by operating
activities:

Depreciation and amortization

169,951

223,891

Provision for credit losses

30,265

26,263

Deferred tax benefit

(191,703)

(3,939)

Amortization of operating lease right-of-use assets

73,034

55,659

Share-based compensation

8,800,000

—

Changes in operating assets and liabilities:

Accounts receivable

(1,375,962)

(1,365,703)

Accounts receivable – related party

(938,394)

—

Notes receivable

249,223

(3,881)

Inventories

211,917

(277,321)

Prepayments and other assets

(98,286)

(19,867)

Advance to vendors

(195,164)

(687,971)

Advance to vendors – related party

—

(69,300)

Due from related parties

—

(578,513)

Accounts payable

467,452

48,242

Accrued expenses and other liabilities

645,080

159,134

Advance from customers

591,122

1,710,559

Taxes payable

(157,026)

291,930

Operating leases liabilities

(73,671)

(55,428)

Net cash (used in) provided by operating activities

(523,403)

303,082

Cash flows from investing activities:

Additions to property, plant, and equipment

(93,665)

(1,556,739)

Additions to intangible assets

(5,236)

—

Net cash used in investing activities

(98,901)

(1,556,739)

Cash flows from financing activities:

Repayments to related parties

—

(868,438)

Advances from related parties

261,158

—

Loan from third-party

500,000

—

(Repayments of) proceeds from bank acceptance notes payable, net

(550,559)

427,044

Proceeds from short-term bank loans

5,403,440

4,487,582

Repayment of short-term bank loans

(7,995,277)

(1,663,202)

Proceeds from long-term bank loans

2,412,000

693,001

Repayment of long-term bank loans

(74,088)

—

Payment of offering costs

—

(89,667)

Net cash (used in) provided by financing activities

(43,326)

2,986,320

Effect of exchange rate changes on cash and restricted cash

378,523

(265,228)

Net (decrease) increase in cash and restricted cash

(287,107)

1,467,435

Cash and restricted cash at the beginning of period

3,323,126

2,846,659

Cash and restricted cash at the end of period

$

3,036,019

$

4,314,094

Reconciliation of cash and restricted cash, end of period

Cash

$

2,978,868

$

4,120,178

Restricted cash

57,151

193,916

Cash and restricted cash at the end of period

$

3,036,019

$

4,314,094

Supplemental cash flow disclosures:

Cash paid for income tax

$

1,795

$

97,101

Cash paid for interest

$

40,657

$

36,403

Non-cash investing activities:

Right-of-use assets obtained in exchange for operating lease obligations

$

54,345

$

15,287

 

 

SU Group Holdings Receives Notice of Delisting from Nasdaq Due to Minimum Publicly Held Share Deficiency; Company Appeals Determination

HONG KONG, Sept. 20, 2025 /PRNewswire/ — SU Group Holdings Limited (Nasdaq: SUGP) (“SU Group” or the “Company”), an integrated security-related engineering services company in Hong Kong, today announced that it received a letter (the “Determination Letter”) on September 17, 2025 from the staff of the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market LLC (the “Nasdaq”) notifying it that unless the Company requests an appeal, which it already has, the Company’s securities will be scheduled for delisting from The Nasdaq Capital Market and will be suspended at the opening of business on September 26, 2025, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the “SEC”), which will remove the Company’s securities from listing and registration on The Nasdaq Stock Market.  The Company has already appealed Staff’s determination to a hearings panel (the “Panel”). The hearing request stays the suspension of the Company’s securities and the filing of the Form 25-NSE pending the Panel’s decision. The Company’s shares will continue to trade uninterrupted on the Nasdaq Capital Market under the ticker symbol, “SUGP,” until the earlier of the deficiency being rectified or the appeal being heard by the Panel.

As previously reported on Form 6-K, on March 20, 2025, the Company received a written notification letter (the “First Letter”) from Nasdaq, notifying the Company it was not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2). On July 31, 2025, the Company effected a reverse stock split in order to cure the deficiency under Nasdaq Listing Rule 5550(a)(2) for continued listing. On July 31, 2025, the Company’s ordinary shares were also redesignated as Class A ordinary shares (the “ordinary shares”), as previously reported on Form 6-K on August 20, 2025.

As a result of the reverse stock split, on August 27, 2025, as previously reported on From 6-K, the Company received a written notification letter (the “Second Letter”) from Nasdaq notifying the Company that it no longer meets the minimum 500,000 publicly held shares requirement for continued listing on the Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(4). The Company submitted a compliance plan to Staff on September 15, 2025, detailing the actions the Company intends to take in order to restore compliance with Nasdaq Listing Rule 5550(a)(4) and 5550(a)(2).

As noted above, the Company has already appealed Staff’s determination to a hearings panel. The Company intends to cure the deficiencies as soon as possible and if the hearing is to move forward will provide a plan to regain compliance to the Panel and will present a plan that includes a discussion of the actions that it believes will enable it to regain compliance with Nasdaq Listing Rule 5550(a)(2) and 5550(a)(4). Among other actions, the Company is currently contemplating a secondary offering on a registration statement on Form F-1 which will increase the Company’s publicly held shares amount.

If the Company does not rectify the deficiencies and has to go to a hearing and the Panel disagrees and/or does not grant the Company an extension to comply with Nasdaq Listing Rule 5550(a)(2) and 5550(a)(4) the Company will be subject to being delisted from the Nasdaq. If a delisting occurs, the Company will be faced with a number of material adverse consequences, including limited availability of market quotations for its ordinary shares; limited news and analyst coverage; decreased ability to obtain additional financing or failure to comply with the covenants required by the Company’s borrowing arrangement; limited liquidity for the Company’s shareholders due to thin trading; and a potential loss of confidence by investors, employees and other third parties who do business with the Company.

About SU Group Holdings Limited

SU Group (Nasdaq: SUGP) is an integrated security-related services company that primarily provides security-related engineering services, security guarding and screening services, and related vocational training services in Hong Kong. Through its subsidiaries, SU Group has been providing turnkey services to the existing infrastructure or planned development of its customers through the design, supply, installation, and maintenance of security systems for over two decades. The security systems that SU Group provides services include threat detection systems, traffic and pedestrian control systems, and extra-low voltage systems in private and public sectors, including commercial properties, public facilities, and residential properties in Hong Kong. For more information visit www.sugroup.com.hk. 

Forward-Looking Statements

The Company makes forward-looking statements in this report within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations or forecasts for future events. These statements may be preceded by, followed by or include the words “may,” “might,” “will,” “will likely result,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target” or similar expressions. These forward-looking statements are based on information available to the Company as of the date of this report and involve substantial risks and uncertainties. Actual results may vary materially from those expressed or implied by the forward-looking statements herein due to a variety of factors, including the Company’s ability to submit a plan to regain compliance satisfactory to Nasdaq and the Panel; the Company’s ability to evidence that it has a minimum of 500,000 publicly held shares and a minimum bid price of at least $1 per share; and other risks and uncertainties set forth in our reports filed with the Securities and Exchange Commission. The Company does not undertake any obligation to update forward-looking statements as a result of new information, future events or developments or otherwise.

 

Huawei Launches Xinghe AI Fabric 2.0, Empowering Enterprises to Create Always-on Data Center Networks with Full Computing Power

SHANGHAI, Sept. 20, 2025 /PRNewswire/ — At HUAWEI CONNECT 2025’s inaugural Data Center Innovation Summit, themed “Leading AI DC Innovation for an Intelligent Future”, Huawei joined over 600 global industry leaders, experts, and scholars to discuss high‑quality, sustainable data center infrastructure in the AI era. Huawei unveiled Xinghe AI Fabric 2.0—a full upgrade to its AI Fabric launched in 2018—empowering enterprises to create always‑on data center networks with full computing power and accelerating digital-intelligent transformation.

Arthur Wang, President of Data Center Network Domain, Huawei Data Communication Product Line, delivering a keynote
Arthur Wang, President of Data Center Network Domain, Huawei Data Communication Product Line, delivering a keynote

In his keynote, Arthur Wang noted that rapid AI iteration and evolving cloud architectures are driving data center networks to a critical inflection point. Xinghe AI Fabric 2.0, built on a three‑layer architecture comprising AI Brain, AI Connectivity, and AI Network Elements, integrates the AI network agent (NetMaster), StarryWing Digital Map (three‑level automation), Xinghuan training + Xingzhi inference scheduling engine, and Rock‑Solid Architecture.

Xinghe AI Fabric 2.0—Creating Always‑on Data Center Networks with Full Computing Power

  • AI Brain: Uses StarryWing Digital Map and NetMaster for drag‑and‑drop service orchestration and automated deployment, integrated application‑network O&M automation, and end‑to‑end automation across heterogeneous networks and security domains—significantly boosting O&M efficiency.
  • AI Connectivity: Utilizes the network scale load balancing (NSLB) algorithms to increase network throughput to 95% and improve training/inference efficiency by over 10%. iReliable three‑level reliability technology, built on the Rock‑Solid Architecture, delivers 10Ă— higher reliability.
  • AI Network Elements: CloudEngine series general‑purpose computing switches, XH series intelligent computing switches, and StarryLink optical modules enable precise traffic awareness and visualization of packet loss and latency. Intrinsic security and group-based isolation help enhance network security.

Show Floor Highlights—Demonstrating Core Technical Strengths

Huawei’s Data Center Network booth featured dynamic demos and simulations of Xinghe AI Fabric 2.0’s three-layer architecture, showcasing the value of “AI for Fabric & Fabric for AI.” Also displayed: the full 800GE portfolio—including the industry’s highest-density 128Ă—800GE fixed switch XH9330, 64Ă—800GE fixed switch XH9320, complete 800GE StarryLink optical modules—plus the Xinghe liquid-cooled cabinet and the industry’s first all-port liquid-cooled high-density 128Ă—400GE fixed switch XH9230‑LC.

Looking ahead, Huawei will continue open collaboration with partners and customers, advancing research and innovation in data center networking, driving intelligent network upgrades and generational evolution, and creating greater value for industries worldwide.

DREAMCELL®, Engineered by DSC® Sponsors First-Ever Sketchbattle SNKR, the “Fight Club of Design” for Sneaker Creatives

DSC is Proud to Continue to Support the Next Generation in Footwear Design

PORTLAND, Ore., Sept. 19, 2025 /PRNewswire/ — DSC®, a global leader in high-performance foam innovation and designer of DREAMCELL® and DURAPONTEX® insoles, is proud to sponsor the first-ever Sketchbattle SNKR on September 19, 2025. The live sneaker design competition brings the energy of Detroit’s legendary design battles to the footwear industry for the very first time.

DREAMCELL®, engineered by DSC® sponsors the first-ever Sketchbattle SNKR, known as the “Fight Club of Design” for sneaker creatives on September 19, 2025.
DREAMCELL®, engineered by DSC® sponsors the first-ever Sketchbattle SNKR, known as the “Fight Club of Design” for sneaker creatives on September 19, 2025.

Billed as the “Fight Club of Design,” Sketchbattle is a high-energy competition where student and professional designers from across backgrounds and experience levels go head-to-head in live footwear sketching rounds. Competitors battle the clock in front of a crowd of 600+ designers, creatives, and title sponsors including DSC®, Nike, Jordan, and Converse, among others. With industry judges, live DJs, and a high-energy atmosphere, Sketchbattle SNKR is more than a competition—it’s a real-time disruptive hiring engine where new talent is discovered, recruited, and celebrated.

DSC® is thrilled to be part of the very first sneaker-focused Sketchbattle,” said Mei-Fen Wei, Chief Operating Officer of DSC®. “Just as DSC pushes the boundaries of insole innovation, Sketchbattle challenges designers to push creative limits in real time. Supporting young designers has always been a priority for us, and we’re proud to stand alongside this movement that gives them a stage, access, and a career pathway.”

Founded by designer and educator Brook Banham, Sketchbattle was created to celebrate Detroit’s rich history in automotive design. Now, with the debut of Sketchbattle SNKR, the platform expands to a sneaker face off— bringing cultural and industry connections across the global footwear community, to come together to create and engage in a dynamic, friendly rivalry.

“This is a dream years in the making,” said Brook, founder of Sketchbattle. “We’ve seen Sketchbattle change lives in automotive design—talent discovered on this stage goes on to work at the biggest brands in the world. To now bring that same platform to sneakers, with the support of leaders like DREAMCELL®, Engineered by DSC®, opens up incredible opportunities for the next generation of designers.”

DSC’s sponsorship of Sketchbattle SNKR builds on its ongoing commitment to supporting the next generation in nurturing design talent and access. The company first connected with Brook through his role as a professor at the College for Creative Studies (CCS), where DSC® has sponsored a design sprint program for the past several years in support of young designers in both the industry and the community.

This year’s event will feature three awards: Sketchbattle Champion, People’s Choice, and the Darby Jean Award. Named in honor of Sketchbattle’s first female Sketchbattle Champion in 2015, the Darby Jean Award shines a spotlight on women designers underrepresented in the industry, by recognizing and celebrating their talent and contributions.

Sketchbattle SNKR hopes to expand to key sneaker cities like Portland, Boston, and Los Angeles. The inaugural Detroit event marks the beginning of a new chapter where sneaker design takes center stage, and DSC® is proud to help lead the charge.

About DSC
For 80 years since its founding in 1945, Dahsheng Company (DSC®) has been a leader in foam innovation for the sports industries. Known for its premium comfort and performance foam DREAMCELL® and DURAPONTEX®, DSC® partners with top brands and footwear manufacturers worldwide. By advancing innovation and pushing the limits of foam manufacturing, DSC® is dedicated to creating eco-friendly and advanced foam solutions that set new standards in the industry.

Visit www.dahsheng.com to learn more about DSC® and its commitment to sustainability and eco-innovation.

About Sketchbattle
Known as the “Fight Club of Design”, Sketchbattle is a live design competition that brings together students, professionals, and industry leaders for high-energy battles where creativity meets opportunity. Founded in Detroit, Sketchbattle has become a disruptive platform for discovering and hiring design talent, transforming the way the industry connects with the next generation of creatives. Visit www.sketchbattles.com for more information.

Media Contact:
Erin Patterson
t: +1-323-422-0274
e: erin.patterson@writetheskycomms.com

 

Pimax unveils new VR headsets offering the widest field of view for Micro-OLED

WILMINGTON, Del., Sept. 20, 2025 /PRNewswire/ — Pimax today shared a major update on its Micro-OLED product line: the Dream Air SE, Dream Air, and Crystal Super Micro-OLED. First revealed earlier this year, these headsets are now approaching launch with finalized specs, enhanced features, and confirmed availability. Together, they showcase Pimax’s ability to bring Micro-OLED displays and pancake optics into VR headsets that break industry conventions.

Pimax Dream Air & Crystal Super Micro-OLED
Pimax Dream Air & Crystal Super Micro-OLED

Breakthrough in Micro-OLED VR

Micro-OLED promises ultra-high pixel density, deep blacks, and near-infinite contrast, but faces challenges in heat management, optics, and high-resolution scaling. Pimax solved these with its proprietary ConcaveView pancake optics, making it the first VR brand to deliver Micro-OLED headsets at scale, not just prototypes.

Product Lineup

  • Dream Air SE – A lightweight (under 140 g) all-in-one 5K headset with 2560 Ă— 2560 resolution per eye, Tobii eye-tracking, dynamic foveated rendering, 6DOF SLAM tracking, and spatial audio. At $899, it makes Micro-OLED VR accessible to gamers and creators.
  • Dream Air – The world’s smallest full-feature 8K VR headset, offering 3840 Ă— 3552 resolution per eye (27+ million pixels combined). At under 170 g, it delivers a 110° horizontal and 120°+ diagonal FOV with optimized stereo overlap, balancing portability with uncompromising image quality.
  • Crystal Super Micro-OLED – Pimax’s flagship, featuring 116° horizontal and 128°+ diagonal FOV, the widest ever on Micro-OLED VR. As part of the modular Crystal ecosystem, it supports interchangeable optical engines (Ultrawide, 57 PPD clarity, and Micro-OLED), ideal for enthusiasts and professional sim users.

Availability

Pre-orders for all three headsets are open now, with shipments beginning later this year. Early adopters will receive exclusive accessories such as prescription lens frames and a free copy of Le Mans Ultimate. All models are supported by the Pimax Prime program, ensuring service and ongoing software updates. We’re also offering a limited batch of prototype micro-OLED optical engines to loan exclusively to our earliest Crystal Super supporters.

Redefining the Future of VR

With the launch of Dream Air SE, Dream Air, and Crystal Super Micro-OLED, Pimax becomes the only brand offering a full lineup of Micro-OLED + pancake lens VR headsets. This milestone proves Micro-OLED VR is no longer just a concept—it’s real, refined, and ready for users worldwide.