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Mabwell Receives IND Clearance for Novel Anti-ST2 Monoclonal Antibody 9MW1911 to Initiate Phase IIa Study

SHANGHAI, Dec. 24, 2025 /PRNewswire/ — Mabwell (688062.SH), an innovation-driven biopharmaceutical company with a fully integrated industry chain, announced that it has received IND clearance from the U.S. Food and Drug Administration (FDA) for its self-developed anti-ST2 monoclonal antibody (R&D code: 9MW1911) to initiate a Phase IIa clinical study in patients with moderate-to-severe chronic obstructive pulmonary disease (COPD).

As the first domestic anti-ST2 monoclonal antibody candidate to enter clinical trials, 9MW1911 binds to the ST2 receptor with high affinity to block the IL-33/ST2 signaling pathway. It has already completed a Phase IIa study (N=80) in patients with moderate-to-severe COPD in China.

Results showed that 9MW1911 was safe and well-tolerated across all dose groups compared to placebo (N=20), with a similar adverse event incidence (70% vs. 85%). Immunogenicity was negative in all subjects, and no new safety risk signals were identified. Regarding pharmacokinetics, drug exposure increased as doses escalated. An exposure-response model can be preliminary established to define the dose-effect relationship, providing a basis for subsequent dose selection.

Pharmacokinetic results suggested that drug exposure increased with escalating doses. An exposure-response model can be preliminary established to define the dose-effect relationship, providing a basis for subsequent dose selection.

Efficacy data revealed that the annualized exacerbation rate of COPD demonstrated a dose-dependent decrease in the treatment arms. At the recommended Phase IIb dose (RP2D, N=30), the annualized rate of moderate-to-severe COPD exacerbations was reduced by over 30% compared to the placebo group. Furthermore, the annualized rate of severe exacerbations at the RP2D was reduced by over 40%, and the proportion of patients experiencing severe exacerbations was significantly lower than the placebo group (13.3% vs. 35%).

The Phase IIb clinical trial evaluating 9MW1911 in a larger COPD population achieved its first patient dosing in July 2025, with an interim analysis planned after data from at least 120 patients are collected. Based on the evaluation of Phase II outcomes, the company expects to launch a Phase III clinical study by the end of 2026 to further observe the drug’s safety, efficacy, and immunogenicity.

About Mabwell

Mabwell (688062.SH) is an innovation-driven biopharmaceutical company with capabilities spanning the entire pharmaceutical value chain. The company is committed to providing more effective and accessible therapies to meet global medical needs, with a focus on oncology and aging-related diseases. Mabwell’s mission is “Explore Life, Benefit Health” and its 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 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.

 

Eastern International Ltd. Entered into Contract for its First Photovoltaic Power Generation Construction Project With a Total Contract Price of RMB 42.5 Million (approximately US$ 6.04 million)

HANGZHOU, China, Dec. 24, 2025 /PRNewswire/ — Eastern International Ltd. (“Eastern International” or the “Company”) (NASDAQ: ELOG), a provider of domestic and cross-border professional logistic services including project logistic and general logistic for Company clients, today announced that its wholly-owned subsidiary, Guizhou Tianrun Zhicheng Construction Engineering Co., Ltd. (“Guizhou Tianrun”), has entered into a construction contract (the “Contract”) with Weifang Branch of CSCEC Southwest Architecture & Design Institute (Shandong) Design Consulting Co., Ltd. for its Hebei Laiyuan 300 MW Centralized Photovoltaic Power Generation Project.

Pursuant to the Contract, Guizhou Tianrun will act as a subcontractor and be responsible for the construction of Phase I – 50 MW (the “Project”) of the Centralized Photovoltaic Power Generation Project, with a total contract price of RMB 42.5 million (approximately US$ 6.04 million). Guizhou Tianrun will be responsible for the foundation works, photovoltaic mounting structure installation, photovoltaic module installation, module string wiring, installation and wiring of photovoltaic combiner boxes and supply of certain auxiliary materials. The Project is scheduled to commence for construction before December 31, 2025.

Mr. Lin Tan, Chief Operating Officer of Eastern International Ltd. commented, “The commencement of the construction of the Company’s first photovoltaic power generation project marks the substantive progress of our business expansion in the new energy sector. Through our professional engineering and construction team, the Company will continue to actively participate in large-scale clean energy projects and their constructions, to provide high-quality and on-time delivery and support the green transformation of regional energy structure. With this new development, we believe the Company has entered a broader stage of new business.”

About Eastern International Ltd. 

Eastern International Ltd. (NASDAQ: ELOG) is a holding company incorporated in the Cayman Islands. The Company, through Suzhou TC-Link Logistics Co., Ltd. (“Suzhou TC-Link”) and Hangzhou TC-Link Logistics Supply Chain Management Co., Ltd., both wholly owned subsidiaries of the Company, provide domestic and cross-border professional logistic services including project logistic and general logistic for Company clients. Suzhou TC-Link was established on January 9, 2006, in Jiangsu Province, China. Suzhou TC-Link has obtained the internationally recognized IS09001 certificate of high-quality service (2015 standard). Eastern International has 7 wholly owned subsidiaries and 5 warehouses/logistic centers and 3 branch offices in China which operating network covers key cities in mainland China, Hong Kong, Southeast Asia and Central Asia. For more information, please visit https://www.elogint.com

FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. 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. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors discussed in the “Risk Factors” section of the final prospectus filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and Eastern International specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. 

Contacts: 

Eastern International Ltd.
Mr. Lin Tan
Tel: +86 0571-82356096
Email: ir@elogint.com

Bybit Marks Seventh Anniversary With Exclusive EU-Only ZEN.COM PRO Plan Reward

VIENNA, Dec. 24, 2025 /PRNewswire/ — Bybit EU, the European arm of Bybit and a MiCAR-licensed crypto-asset service provider headquartered in Vienna, is commemorating Bybit’s Seventh Anniversary with the launch of its EU-only #7UpBybit Birthday Blast, featuring a special reward in partnership with ZEN.COM. Eligible EU participants may redeem 150 days of complimentary access to the ZEN PRO plan, valued at €34.50, through activities available exclusively to users on the Bybit EU platform.

This reward is part of the Bybit EU Daily Treasure Hunt, which runs from Nov. 26, 2025, at 10 a.m. UTC to Jan. 5, 2026, at 10 a.m. UTC. Only Bybit EU users participating in the EU anniversary campaign are able to earn and redeem Bybit Points for this benefit.

How It Works

  • The reward may be redeemed once per eligible EU user.
  • Users must be opening a ZEN.COM account for the first time in order to activate the ZEN PRO plan.
  • After redeeming the reward with Bybit Points on the EU platform, users will receive a unique reward code from Bybit EU for use with their new ZEN.COM account.
  • If the reward is redeemed by someone who is not new to ZEN.COM, the reward will be unusable and Bybit Points will not be refunded.

Throughout the anniversary period, only users on the Bybit EU platform can participate in tasks that earn Bybit Points, including daily check-ins, account verification with first top-up, daily spot trading, and referral activities conducted within the EU ecosystem.

Points may be redeemed across EU-only anniversary features, including USDC airdrops, fee savers, and 100,000 scratch cards available on a first-come, first-served basis.

T&Cs apply. More information on the EU campaign is available here.

Bybit Marks Seventh Anniversary With Exclusive EU-Only ZEN.COM PRO Plan Reward
Bybit Marks Seventh Anniversary With Exclusive EU-Only ZEN.COM PRO Plan Reward

#BybitEU / #TheCryptoHub

About Bybit EU

Bybit EU GmbH is an Austrian company that serves customers across the entire European Economic Area (EEA*) – with the exception of Malta – via the platform Bybit.eu. Operated by Bybit EU GmbH, a licensed Crypto-Asset Service Provider (CASP) under the Markets in Crypto-Assets Regulation (MiCAR), Bybit EU delivers fully regulated services, including crypto custody, exchange, and rewards products and more,  in full compliance with European regulations for investor protection and market integrity.

Bybit EU GmbH is a licensed Crypto-Asset-Service Provider under the Markets in Crypto Assets Regulation (MiCAR), authorized to offer the following services to residents of the European Economic Area (except Malta):

  • providing custody and administration of crypto-assets on behalf of clients;
  • exchange of crypto-assets for funds;
  • exchange of crypto-assets for other crypto-assets;
  • placing of crypto-assets; and
  • providing transfer services for crypto-assets on behalf of clients.

Bybit EU GmbH is neither the operator of a trading platform for crypto-assets nor provides investment advice.

Media Contact: press@bybit.com
www.bybit.eu 

Disclaimer: This press release is provided for informational purposes only and does not constitute investment advice or an offer to buy or sell digital assets. The products and services mentioned herein are subject to applicable laws and regulations in the relevant jurisdictions and may not be available in certain regions.

AMTD Digital’s Subsidiary TGE Successfully Executed Multiple SPAs for Hotel Acquisitions to Add USD 300 million Worth of Assets

PARIS and NEW YORK and LONDON, Dec. 24, 2025 /PRNewswire/ — AMTD Group Inc. (“AMTD Group”), AMTD IDEA Group (NYSE: AMTD; SGX: HKB), AMTD Digital Inc. (NYSE: HKD) and The Generation Essentials Group (“TGE”, NYSE: TGE; LSE: TGE), a subsidiary of AMTD Digital Inc., announce jointly the successful execution of a sales and purchase agreement (“SPA”) for the 100% acquisition of the Hilton Garden Inn New York City Tribeca. Closing of the acquisition is subject to customary closing conditions.

Located at the heart of Tribeca along Avenue of the Americas and bordered by SoHo, Hudson Square, and Battery Park, the Hilton Garden Inn New York City Tribeca is the center of Lower Manhattan’s most dynamic and evolving neighborhoods. The hotel features 151 rooms, more than 5,000 square feet of retail space designated for food and beverage operations, a rooftop area, and amenities including a fitness center and a business center.

Having created the size and magnitude of a fast growing and a globally independent hotel group, TGE celebrates 2025 as a pivotal year for expanding its hospitality business sector, TGE has 4 acquisition deals announced in major cities around the world within the financial year 2025. The successful execution of the SPA of the New York hotel stands out as a significant milestone as TGE closes out the year.

The recent execution of definitive acquisition agreements in relation to three hotels, after TGE’s completion of its de-SPAC transaction with a special purpose acquisition company under Lawrence Ho’s Black Spade Capital, involves a total valuation of over USD300 million of assets and is expected to result in a rapid expansion of TGE’s hotel portfolio by approximately 500 rooms in just 6 months if consummated.

About AMTD Group

AMTD Group is a conglomerate with a core business portfolio spanning across media and entertainment, education and training, and premium assets and hospitality sectors.

About AMTD IDEA Group

AMTD IDEA Group (NYSE: AMTD; SGX: HKB) represents a diversified institution and digital solutions group connecting companies and investors with global markets. Its comprehensive one-stop business services plus digital solutions platform addresses different clients’ diverse and inter-connected business needs and digital requirements across all phases of their life cycles. AMTD IDEA Group is uniquely positioned as an active super connector between clients, business partners, investee companies, and investors, connecting the East and the West. For more information, please visit www.amtdinc.com or follow us on X (formerly known as “Twitter”) at @AMTDGroup.

About AMTD Digital Inc.

AMTD Digital Inc. (NYSE: HKD) is a comprehensive digital solutions platform headquartered in France. Its one-stop digital solutions platform operates key business lines including digital media, content and marketing services, investments as well as hospitality and VIP services. For AMTD Digital’s announcements, please visit https://ir.amtdigital.net/investor-news.

About The Generation Essentials Group

The Generation Essentials Group (NYSE: TGE; LSE: TGE), jointly established by AMTD Group, AMTD IDEA Group (NYSE: AMTD; SGX: HKB) and AMTD Digital Inc. (NYSE: HKD), is headquartered in France and focuses on global strategies and developments in multi-media, entertainment, and cultural affairs worldwide as well as hospitality and VIP services. TGE comprises L’Officiel, The Art Newspaper, movie and entertainment projects. Collectively, TGE is a diversified portfolio of media and entertainment businesses, and a global portfolio of premium properties. Also, TGE is a special purpose acquisition company (SPAC) sponsor manager, with its first SPAC successfully raised and priced on December 18, 2025.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about the beliefs, plans, and expectations of AMTD IDEA Group, AMTD Digital and/or The Generation Essentials Group, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the filings of AMTD IDEA Group, AMTD Digital and The Generation Essentials Group with the SEC. All information provided in this press release is as of the date of this press release, and none of AMTD IDEA Group, AMTD Digital and The Generation Essentials Group undertakes any obligation to update any forward-looking statement, except as required under applicable law.

For more information, please contact:

For AMTD IDEA Group:
IR Office
AMTD IDEA Group
EMAIL: ir@amtdinc.com

For AMTD Digital Inc.:
IR Office
AMTD Digital Inc.
EMAIL: ir@amtdigital.net 

For The Generation Essentials Group:
IR Office
The Generation Essentials Group
EMAIL: tge@amtd.world 

GeeLark Introduces a New Era of In-App Social Media Automation

SINGAPORE, Dec. 24, 2025 /PRNewswire/ — For years, social media automation has largely meant one thing: scheduling posts. Conventional social media management tools were built to plan content calendars, publish at optimal times, and track performance through dashboards. However, today’s fastest-growing social networks are mobile-first, algorithm-driven, and heavily influenced by real in-app behavior, which is a reality that traditional desktop-based platforms struggle to address.

GeeLark is changing this landscape by introducing a new generation of mobile social media automation built around cloud phones. Instead of relying on APIs or browser-based workarounds, GeeLark gives marketers access to fully functional Android cloud phones, each operating like a real physical device. This allows users to run social media accounts directly inside mobile apps.

GeeLark goes beyond scheduling by enabling full in-app automation. Through its RPA (Robotic Process Automation) capabilities, GeeLark can automate not only posting, but also liking, commenting, browsing feeds, logging in, and other natural user behaviors within real mobile apps. This makes automation feel less mechanical and more aligned with how actual users interact with social platforms.

GeeLark’s read-to-use RPA automation templates. Users can also create custom flows.
GeeLark’s read-to-use RPA automation templates. Users can also create custom flows.

GeeLark’s automation power is tightly integrated with content creation and account management. The platform connects with advanced AIGC models such as Veo 3, Sora 2, Seedance, and Nano Banana, allowing users to generate, edit, and manage creative assets directly inside GeeLark. Content creation, publishing, and engagement no longer require switching between multiple tools — everything happens in one unified environment.

Once content is ready, GeeLark can distribute it across dozens or hundreds of accounts simultaneously. Whether launching a campaign, testing variations, or scaling engagement, marketers can automate workflows that previously required extensive manual effort or large teams.

Before platforms like GeeLark, scaling mobile automation often meant maintaining physical device farms or relying on unstable emulators. GeeLark replaces these outdated approaches with a cloud-based infrastructure that can be deployed instantly. Cloud phones can be launched in seconds, workflows can be shared across teams, and campaigns can scale without hardware limitations.

This flexibility allows marketers to move faster, test more ideas, and respond to trends in real time, while maintaining operational stability and security.

For years, social media automation has largely revolved around scheduling posts and tracking analytics, but as platforms evolve, this approach is no longer enough. Today’s fastest-growing social networks are mobile-first, algorithm-driven, and heavily influenced by real in-app behavior — a reality that traditional desktop-based tools struggle to address. GeeLark is changing this landscape by introducing a new generation of mobile social media automation built around cloud phones.

As a cloud-phone platform, GeeLark provides users with fully functional Android devices hosted in the cloud, allowing marketers to operate social media accounts directly inside native mobile apps rather than through limited APIs or browser tools. This enables a deeper level of automation that goes far beyond publishing posts, including automated liking, commenting, browsing, logging in, and other natural user behaviors that social algorithms prioritize.

By automating real in-app actions, GeeLark allows brands, creators, and agencies to scale engagement in a way that feels authentic and aligns with how platforms like TikTok, Instagram Reels, YouTube Shorts, WhatsApp, and Telegram are designed to work.

GeeLark also functions as an end-to-end automation engine by combining content creation, distribution, and engagement within a single platform. With integrations to advanced AIGC models such as Veo3, Seedance, and Nano Banana, users can generate, edit, and manage creative content directly inside GeeLark without switching tools.

Once content is ready, GeeLark’s RPA automation can distribute it across dozens or even hundreds of accounts simultaneously, enabling large-scale campaigns, rapid testing, and efficient growth. Each cloud phone operates in an isolated environment with its own device fingerprint and configurable proxy, allowing safe multi-account management, regional testing, and global campaign execution without accounts being linked or restricted.

Unlike traditional approaches that rely on physical device farms or unstable emulators, GeeLark’s cloud-based infrastructure allows new devices and workflows to be deployed instantly, shared across teams, and scaled without hardware limitations.

As social media continues to shift toward mobile-native experiences and behavior-driven algorithms, GeeLark represents a fundamental change in how automation is defined. By moving beyond scheduling and enabling real mobile automation at scale, GeeLark is ushering in a new era of social media marketing — one built for the realities of today’s platforms and the opportunities of tomorrow.

Contact:
Name: Eleanor Tse
Email: eleanor.tse@geelark.com 

FP Markets Celebrates 20 Years of Transforming Trading and Looks Ahead to a New Era of Growth

SYDNEY, Dec. 24, 2025 /PRNewswire/ — Global multi-asset broker FP Markets proudly marked its twentieth anniversary this year, celebrating two decades of ‘Transforming Trading’ through innovation, performance-driven technology, and a commitment to placing traders first.

Since its founding in 2005, FP Markets has consistently redefined trading excellence, developing next-generation financial technology, delivering comprehensive trader education, and providing exceptional customer support tailored to a diverse client base.

 

FP Markets Celebrates 20 Years of Transforming Trading and Looks Ahead to a New Era of Growth
FP Markets Celebrates 20 Years of Transforming Trading and Looks Ahead to a New Era of Growth

 

In 2025, the broker further solidified its industry-leading position with continued global expansion, a refreshed digital brand identity, multiple product enhancements, and participation in major financial international expos. The past year was also marked with significant achievements as FP Markets received over 20 international acknowledgements, including ‘Broker of the Year – Global’, ‘Most Valuable Broker’, and ‘Most Reputable Broker’.

Commenting on the company’s milestone anniversary, Andria Phiniefs, Global Head of Marketing, stated: “FP Markets pledges to continue pushing boundaries and setting new industry standards, expanding access to markets worldwide while remaining firmly grounded in our values. With innovation and our client-centric focus at the core of everything we do, we are well positioned and ready for our next era of growth.”

Looking ahead, FP Markets will be continuing its strategic expansion into new regions and emerging markets with the aim of delivering trading solutions to a broader global audience. The broker also plans to expand its financial technology, tools, and product suite to meet the evolving needs of traders. While fully embracing technological progress, FP Markets remains firmly committed to its customer-centric philosophy, ensuring fintech innovation is complemented by exemplary education and unmatched client support.

Canadian Solar Appoints Colin Parkin as President and Dylan Marx as Chief Operating Officer

KITCHENER, ON, Dec. 24, 2025 /PRNewswire/ — Canadian Solar Inc. (the “Company” or “Canadian Solar”) (NASDAQ: CSIQ) today announced the appointment of Colin Parkin as a member of its Board of Directors and his promotion to President of Canadian Solar.

Parkin succeeds Yan Zhuang on the Company’s Board of Directors and assumes the role of the Company’s President from Dr. Shawn Qu, effective immediately. Dr. Qu, the Founder of Canadian Solar, continues to serve as the Company’s Chairman and Chief Executive Officer. Parkin’s promotion will allow Dr. Qu to focus on long-term strategy and technology innovation, as the Company continues to expand its investments and manufacturing operations in North America.

In conjunction with Parkin’s appointment, the Board also appointed Dylan Marx as Chief Operating Officer.

Together, these leadership changes underscore the Company’s commitment to developing internal talent and to maintaining strong collaboration and execution across its global subsidiaries.

Parkin is a 20-year veteran of Canadian Solar and most recently served as President of the Company’s subsidiary, e-STORAGE, a utility-scale energy storage manufacturer and service provider. Prior to his role at e-STORAGE, Parkin served as Vice President of Canadian Solar’s Energy Group, now known as Recurrent Energy, and previously held roles as General Manager of Canada and Vice President of Engineering and Projects. Before joining Canadian Solar, Parkin founded Integrated Manufacturing Technologies (IMT) and held roles at Photowatt International and Automation Tooling Systems (ATS). Parkin studied Manufacturing Engineering at Fanshawe College in London, Ontario.

Marx joined Canadian Solar in 2013 and most recently served as Corporate Vice President of Operations and President of Operations and Maintenance (O&M) for the Company’s subsidiary, Recurrent Energy. He brings deep experience across renewable energy, automation, and manufacturing to his new role. Prior to joining Canadian Solar, Marx held senior roles at ATS Automation and BlackBerry. Marx holds a diploma in Mechanical Engineering, Design, and Analysis from Conestoga College and an MBA from the University of Windsor.

Together, Parkin and Marx bring three decades of executive leadership experience with Canadian Solar and its affiliates, and the Board determined that they will provide cohesive leadership across the Company’s global operations.

Dr. Shawn Qu, Chairman and CEO of Canadian Solar, stated, “As we approach our 25th anniversary in 2026, Canadian Solar enters a pivotal period in its evolution. We are extremely proud of the Company’s accomplishments and remain deeply committed to our more than 15,000 employees worldwide. Colin has played a critical role in building e-STORAGE into a global energy storage leader. Together, with their deep institutional knowledge and leadership, Colin and Dylan will help chart and execute Canadian Solar’s next phase of growth and drive long-term value.”

About Canadian Solar Inc.

Canadian Solar is one of the world’s largest solar technology and renewable energy companies. Founded in 2001 and headquartered in Kitchener, Ontario, the Company is a leading manufacturer of solar photovoltaic modules; provider of solar energy and battery energy storage solutions; and developer, owner, and operator of utility-scale solar power and battery energy storage projects. Over the past 24 years, Canadian Solar has successfully delivered nearly 170 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar has shipped over 16 GWh of battery energy storage solutions to global markets as of September 30, 2025, boasting a $3.1 billion contracted backlog as of October 31, 2025. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12 GWp of solar power projects and 6 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 25 GWp of solar and 81 GWh of battery energy storage capacity in various stages of development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

Safe Harbor/Forward-Looking Statements 

Certain statements in this press release, including those regarding the Company’s expected future shipment volumes, revenues, gross margins, and project sales are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the “Safe Harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as “may”, “will”, “expect”, “anticipate”, “future”, “ongoing”, “continue”, “intend”, “plan”, “potential”, “prospect”, “guidance”, “believe”, “estimate”, “is/are likely to” or similar expressions, the negative of these terms, or other comparable terminology. These forward-looking statements include, among other things, our expectations regarding global electricity demand and the adoption of solar and battery energy storage technologies; our growth strategies, future business performance, and financial condition; our transition to a long-term owner and operator of clean energy assets and expansion of project pipelines; our ability to monetize project portfolios, manage supply chain fluctuations, and respond to economic factors such as inflation and interest rates; our outlook on government incentives, trade measures, regulatory developments, and geopolitical risks; our expectations for project timelines, costs, and returns; competitive dynamics in solar and storage markets; our ability to execute supply chain, manufacturing, and operational initiatives; access to capital, debt obligations, and covenant compliance; relationships with key suppliers and customers; technological advancement and product quality; and risks related to intellectual property, litigation, and compliance with environmental and sustainability regulations. Other risks were described in the Company’s filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 30, 2025. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today’s date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.

CANADIAN SOLAR INC. INVESTOR RELATIONS CONTACT
Wina Huang
Investor Relations
Canadian Solar Inc.
investor@canadiansolar.com

Cloopen Announces Receipt of Preliminary Non-Binding “Going Private” Proposal

BEIJING, Dec. 24, 2025 /PRNewswire/ — Cloopen Group Holding Limited (OTC: RAASY) (“Cloopen” or the “Company”) today announced that its Board of Directors (the “Board”) has received a preliminary non-binding proposal letter (the “Proposal”), dated December 22, 2025, from Mr. Changxun Sun, the Company’s founder and chief executive officer, and Trustbridge Partners VII, L.P. (collectively, the “Buyer Group”), proposing to acquire all of the outstanding Class A ordinary shares and Class B ordinary shares of the Company (the “Ordinary Shares”), including Ordinary Shares represented by American depositary shares (the “ADSs,” each representing six Class A ordinary shares), that are not already beneficially owned by the Buyer Group or their affiliates, for a purchase price of US$0.4940 per Ordinary Share, or US$2.9641 per ADS, in cash in a going private transaction (the “Proposed Transaction”), subject to certain conditions. The price represents (1) a premium of 51.23% to the Company’s closing price on the last trading day prior to the date of the proposal, and (2) a premium of 74.87% and 86.22% to the volume-weighted average closing price during the last 15 and 30 trading days prior to the date of the proposal, respectively. A copy of the Proposal is attached hereto as Annex A.

The Board intends to form a special committee consisting of independent and disinterested directors to consider the Proposal. The Board expects that the special committee will retain independent advisors, including independent financial and legal advisors, to assist it in this process.

The Board cautions the Company’s shareholders and others considering trading the Company’s securities that the Board has just received the Proposal and has not had an opportunity to carefully review and evaluate the Proposal or make any decision with respect to the Company’s response to the Proposal. There can be no assurance that any definitive offer will be made, that any definitive agreement will be executed relating to the Proposed Transaction or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.

About Cloopen Group Holding Limited

Cloopen Group Holding Limited is a leading multi-capability cloud-based communications solution provider in China offering a full suite of cloud-based communications solutions, covering communications platform as a service (CPaaS), cloud-based contact centers (cloud-based CC), and cloud-based unified communications and collaborations (cloud-based UC&C). Cloopen’s mission is to enhance the daily communication experience and operational productivity for enterprises. Cloopen aspires to drive the transformation of enterprise communications industry by offering innovative marketing and operational tactics and SaaS-based tools.

For more information, please visit https://ir.yuntongxun.com.

Forward-Looking Statements

This press release contains forward-looking statements made under the “safe harbor” provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Cloopen may also make written or oral forward-looking statements in its reports filed with or furnished to the SEC, 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. Any statements that are not historical facts, including statements about Cloopen’s beliefs and expectations as well as its financial outlook, are forward-looking statements. These forward-looking statements are based on Cloopen’s current expectations and involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in Cloopen’s filings with the SEC. All information provided in this press release is current as of the date of the press release, and Cloopen does not undertake any obligation to update such information, except as required under applicable law. All forward-looking statements are qualified in their entirety by this cautionary statement, and you are cautioned not to place undue reliance on these forward-looking statements.

For investor and media inquiries, please contact:
Cloopen Group Holding Limited
Investor Relations
Email: ir@yuntongxun.com

 

Annex A

Preliminary Non-binding Proposal to Acquire Cloopen Group Holding Limited

December 22, 2025

The Board of Directors
Cloopen Group Holding Limited (the “Company“)
16/F, Tower A, Fairmont Tower
33 Guangshun North Main Street
Chaoyang District, Beijing 100102
The People’s Republic of China

Ladies and Gentlemen:

We, Mr. Changxun Sun, the chief executive officer of the Company and Trustbridge Partners VII, L.P. (collectively, the “Buyer Group“, “we” or “us“), acting for ourselves and on behalf of our respective affiliated funds and any of our or their nominee entities, are pleased to submit this preliminary non-binding proposal to acquire all of the outstanding Class A ordinary shares and Class B ordinary shares of the Company (the “Ordinary Shares“) and the American Depositary Shares of the Company (the “ADSs“, each ADS representing six Class A ordinary shares) that are not already beneficially owned by the Buyer Group or their affiliates in a privatization transaction (the “Acquisition“), as described below.

We believe that our proposal provides a very attractive opportunity to the Company’s shareholders. Our proposal values the Company at approximately the US$ 155.92 million (equivalent to RMB 1,100 million, calculated based on the exchange rate on December 12, 2025, as set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System), representing a premium of 51.23% to the Company’s closing price on the last trading day, and a premium of 74.87% and 86.22% to the volume-weighted average closing price during the last 15 and 30 trading days, respectively.

1.

Consortium. We have agreed to work together with each other as a buyer consortium in pursuing the Acquisition, and will form an acquisition company for the purpose of implementing the Acquisition.

2.

Purchase Price. The consideration payable for each Ordinary Share, par value US$0.0001 per share, of the Company will be US$0.4940 in cash, or US$2.9641 in cash for each ADS (in each case, other than those Ordinary Shares or ADSs held by us or our affiliates that may be rolled over in connection with the Acquisition).

3.

Funding. We intend to finance the Acquisition with a combination of equity and debt capital. Equity financing would be provided by the Buyer Group in the form of rollover equity in the Company and cash contributions from us, and we expect definitive commitments by financial institutions for the required debt to be in place when the Definitive Agreements (as defined below) are signed.

4.

Due Diligence. We have engaged Han Kun Law Offices as international legal counsel to our buyer consortium. We believe that we will be in a position to complete customary legal, financial and accounting due diligence for the Acquisition in a timely manner with the full cooperation of the Company, and in parallel with discussions on the Definitive Agreements.

5.

Definitive Agreements. We are prepared to promptly negotiate and finalize definitive agreements (the “Definitive Agreements“) in connection with the Acquisition and related transactions. These documents will provide for representations, warranties, covenants and conditions which are typical, customary and appropriate for transactions of this type.

6.

Process. We believe that the Acquisition will provide superior value to the Company’s shareholders. We recognize that the Company’s Board of Directors (the “Board“) will evaluate the Acquisition independently before it can make its determination to endorse it. Given the involvement of Mr. Changxun Sun and Trustbridge Partners VII, L.P. in the Acquisition, we appreciate that the independent members of the Board will proceed to consider the Acquisition. The members of the Buyer Group and their respective affiliates collectively own approximately 20.32% of the issued and outstanding Ordinary Shares of the Company and approximately 53.98% of the Company’s voting power.  In considering our offer, you should be aware that we are interested only in acquiring the outstanding Ordinary Shares that are not currently owned by us or our affiliates, and we do not intend to sell any Ordinary Shares owned by us or our affiliates to any third party during the Acquisition.

7.

Confidentiality. We expect the Company to make a public announcement in connection with receiving our proposal. However, we are sure you will agree with us that it is in all of our interests to ensure that we otherwise proceed in a strictly confidential manner, unless otherwise required by law, until we have executed Definitive Agreements or terminated our discussions.

8.

No Binding Commitment. This letter constitutes only a preliminary indication of our interest, and does not constitute any binding commitment with respect to the Acquisition. A binding commitment will result only from the execution of Definitive Agreements, and then will be on terms and conditions provided in such documentation.

In closing, we would like to express our commitment to working together to bring this Acquisition to a successful and timely conclusion. Should you have any questions regarding this proposal, please do not hesitate to contact us. We look forward to hearing from you.

[signatures begin on next page]

Sincerely,

/s/ Changxun Sun
Changxun Sun

Trustbridge Partners VII, L.P.

By: LIN  Ning David
Name: LIN Ning David
Title: Authorized Signatory