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Henan Tourism Promotion in South Korea Successfully Concludes

Creating a New Bridge for Cultural Exchange Between China and South Korea

SEOUL, South Korea, Aug. 27, 2025 /PRNewswire/ — From August 18 to 22, 2025, the Henan Provincial Department of Culture and Tourism presented its “Light of Culture” online exhibition and promotional showcase in Seoul, drawing strong participation from South Korean audiences. Visitors explored the rich cultural assets of Henan Province, gaining a deeper appreciation for the welcoming spirit of international cultural exchange.

The promotion featured both digital engagement and in-person activations. In partnership with CHINALAB, a leading South Korean online platform, the Henan Provincial Department of Culture and Tourism launched an interactive online exhibition that drew more than one million visits and generated strong feedback. The initiative significantly expanded awareness of Henan’s cultural offerings among South Korean audiences.


Complementing the digital campaign, the in-person program was staged in Seoul’s vibrant Hongdae district. Local cafés, including FLO-LOUNGE Flowercafe, showcased scenes and traditions from Central China, inviting guests to enjoy coffee in an atmosphere that reflected Henan’s cultural heritage. A branded coffee truck became a popular destination, offering more than a thousand complimentary beverages and promotional items, while creating an interactive setting where visitors could enjoy coffee while discovering all that Henan has to offer. The event provided an innovative way to connect Henan’s heritage with everyday life in Seoul.

The initiative successfully created a new platform for cultural exchange between China and South Korea, giving audiences in South Korea an authentic introduction to Henan’s cultural landscape while strengthening connections for future collaboration.

The event received coverage from major South Korean outlets, including The Korea JoongAng Daily and the travel magazine GUIDE ME.

 

 

 

Trip.com Group Limited Reports Unaudited Second Quarter and First Half of 2025 Financial Results

SINGAPORE, Aug. 28, 2025 /PRNewswire/ — Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) (“Trip.com Group” or the “Company”), a leading global one-stop travel service provider of accommodation reservation, transportation ticketing, packaged tours, and corporate travel management, today announced its unaudited financial results for the second quarter and first half of 2025.

Key Highlights for the Second Quarter of 2025

  •  International businesses sustained strong growth across all segments during the second quarter of 2025
    – Overall reservations on the Company’s international OTA platform increased by over 60% year-over-year.
    – Inbound travel bookings surged by over 100% year-over-year.
    – Outbound hotel and air ticket bookings have surpassed 120% of the pre-COVID level for the same period in 2019.

“Travel is a key driver in national growth and global engagement. It serves not only as an engine for economic development but also as a catalyst for cultural exchange, global understanding and social vitality,” said James Liang, Executive Chairman. “Looking ahead, we remain confident in the industry’s long-term growth, and will continue to prioritize strategic investments in innovation, partnership development , and inbound travel expansion to stimulate global economic advancement.”

“We are encouraged by the strong momentum across all segments of the travel industry,” said Jane Sun, Chief Executive Officer. “Our strategy focuses on capturing growing demand from every demographic, with special attention to inbound travel. At the same time, we are enhancing our service capabilities to provide global travelers with seamless local experiences. These efforts further reinforce our position as a trusted platform in the global travel landscape.”

Second Quarter of 2025 Financial Results and Business Updates

For the second quarter of 2025, Trip.com Group reported net revenue of RMB14.8 billion (US$2.1 billion), representing a 16% increase from the same period in 2024 and a 7% increase from the previous quarter, primarily driven by stronger travel demand, particularly during the holiday periods.

Accommodation reservation revenue for the second quarter of 2025 was RMB6.2 billion (US$869 million), representing a 21% increase from the same period in 2024, primarily driven by an increase in accommodation reservations. Accommodation reservation revenue for the second quarter of 2025 increased by 12% from the previous quarter, primarily driven by stronger travel demand, particularly during the holiday periods.

Transportation ticketing revenue for the second quarter of 2025 was RMB5.4 billion (US$753 million), representing an 11% increase from the same period in 2024, primarily driven by an increase in transportation reservations. Transportation ticketing revenue for the second quarter of 2025 was flat, compared to that of the previous quarter.

Packaged-tour revenue for the second quarter of 2025 was RMB1.1 billion (US$151 million), representing a 5% increase from the same period in 2024, primarily driven by an increase in packaged-tour reservations. Packaged-tour revenue for the second quarter of 2025 increased by 14% from the previous quarter, primarily driven by stronger travel demand, particularly during the holiday periods.

Corporate travel revenue for the second quarter of 2025 was RMB692 million (US$97 million), representing a 9% increase from the same period in 2024 and a 21% increase from the previous quarter, primarily driven by an increase in corporate travel reservations.

Cost of revenue for the second quarter of 2025 increased by 22% to RMB2.8 billion (US$393 million) from the same period in 2024 and increased by 4% from the previous quarter, which was generally in line with the fluctuations in net revenue from the respective periods. Cost of revenue as a percentage of net revenue was 19% for the second quarter of 2025.

Product development expenses for the second quarter of 2025 increased by 17% to RMB3.5 billion (US$489 million) from the same period in 2024 primarily due to the increase in product development personnel related expenses. Product development expenses for the second quarter of 2025 decreased by 1% from the previous quarter. Product development expenses as a percentage of net revenue were 24% for the second quarter of 2025.

Sales and marketing expenses for the second quarter of 2025 increased by 17% to RMB3.3 billion (US$464 million) from the same period in 2024 and increased by 11% from the previous quarter, primarily due to the increase in expenses relating to sales and marketing promotion activities. Sales and marketing expenses as a percentage of net revenue were 22% for the second quarter of 2025.

General and administrative expenses for the second quarter of 2025 increased by 2% to RMB1.1 billion (US$153 million) from the same period in 2024 and increased by 6% from the previous quarter. General and administrative expenses as a percentage of net revenue were 7% for the second quarter of 2025.

Income tax expense for the second quarter of 2025 was RMB998 million (US$139 million), compared to RMB693 million for the same period in 2024 and RMB638 million for the previous quarter. The change in Trip.com Group’s effective tax rate was primarily due to the combined impacts of changes in respective profitability of its subsidiaries with different tax rates, changes in deferred tax liabilities relating to withholding tax, certain non-taxable income or loss resulting from the fair value changes in equity securities investments and exchangeable senior notes recorded in other income/(expense), and changes in valuation allowance provided for deferred tax assets.

Net income for the second quarter of 2025 was RMB4.9 billion (US$681 million), compared to RMB3.9 billion for the same period in 2024 and RMB4.3 billion for the previous quarter. Adjusted EBITDA for the second quarter of 2025 was RMB4.9 billion (US$680 million), compared to RMB4.4 billion for the same period in 2024 and RMB4.2 billion for the previous quarter.

Net income attributable to Trip.com Group’s shareholders for the second quarter of 2025 was RMB4.8 billion (US$676 million), compared to RMB3.8 billion for the same period in 2024 and RMB4.3 billion for the previous quarter. Excluding share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes recorded in other income/(expense), and their tax effects, non-GAAP net income attributable to Trip.com Group’s shareholders for the second quarter of 2025 was RMB5.0 billion (US$699 million), compared to RMB5.0 billion for the same period in 2024 and RMB4.2 billion for the previous quarter.

Diluted earnings per ordinary share and per ADS was RMB6.97 (US$0.97) for the second quarter of 2025. Excluding share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes recorded in other income/(expense), and their tax effects, non-GAAP diluted earnings per ordinary share and per ADS was RMB7.20 (US$1.01) for the second quarter of 2025. Each ADS currently represents one ordinary share of the Company.

As of June 30, 2025, the balance of cash and cash equivalents, restricted cash, short-term investment, and held to maturity time deposit and financial products was RMB94.1 billion (US$13.1 billion).

Recent Development

As part of the Company’s ongoing commitment to delivering value to its shareholders and ADS holders and in line with its regular capital return policy, as of August 27, 2025, U.S. Eastern Time, the Company had repurchased 7 million ADSs in aggregate with a total gross consideration of US$400 million pursuant to its existing share repurchase program authorized in February 2025.

In August 2025, the board of directors of the Company (the “Board”) has authorized a new share repurchase program under which the Company may repurchase up to an aggregate of US$5 billion of its outstanding ordinary shares and/or ADSs. The share repurchases may be made from time to time in the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations as well as repurchase mandate granted or to be granted to the Board pursuant to the resolutions of shareholders passed at the annual general meeting of the Company (to the extent applicable).

Conference Call

Trip.com Group’s management team will host a conference call at 8:00 PM on August 27, 2025, U.S. Eastern Time (or 8:00 AM on August 28, 2025, Hong Kong Time) following this announcement.

The conference call will be available live on Webcast and for replay at: https://investors.trip.com. The call will be archived for twelve months on our website.

All participants must pre-register to join this conference call using the Participant Registration link below:

https://register-conf.media-server.com/register/BI721587a0c39340f2abf725eb0ffb89eb

Upon registration, each participant will receive details for this conference call, including dial-in numbers and a unique access PIN. To join the conference, please dial the number provided, enter your PIN, and you will join the conference instantly.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under 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 “may,” “will,” “expect,” “anticipate,” “future,” “intend,” “plan,” “believe,” “estimate,” “is/are likely to,” “confident,” or other similar statements. Among other things, quotations from management in this press release, as well as Trip.com Group’s strategic and operational plans, contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, severe or prolonged downturn in the global or Chinese economy, general declines or disruptions in the travel industry, volatility in the trading price of Trip.com Group’s ADSs or shares, Trip.com Group’s reliance on its relationships and contractual arrangements with travel suppliers and strategic alliances, failure to compete against new and existing competitors, failure to successfully manage current growth and potential future growth, risks associated with any strategic investments or acquisitions, seasonality in the travel industry in the relevant jurisdictions where Trip.com Group operates, failure to successfully develop Trip.com Group’s existing or future business lines, damage to or failure of Trip.com Group’s infrastructure and technology, loss of services of Trip.com Group’s key executives, adverse changes in economic and business conditions in the relevant jurisdictions where Trip.com Group operates, any regulatory developments in laws, regulations, rules, policies or guidelines applicable to Trip.com Group and other risks outlined in Trip.com Group’s filings with the U.S. Securities and Exchange Commission or the Stock Exchange of Hong Kong Limited. All information provided in this press release and in the attachments is as of the date of the issuance, and Trip.com Group does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About Non-GAAP Financial Measures

To supplement Trip.com Group’s consolidated financial statements, which are prepared and presented in accordance with United States Generally Accepted Accounting Principles (“GAAP”), Trip.com Group uses non-GAAP financial information related to adjusted net income attributable to Trip.com Group Limited, adjusted EBITDA, adjusted EBITDA margin, and adjusted diluted earnings per ordinary share and per ADS, each of which is adjusted from the most comparable GAAP result to exclude the share-based compensation charges that are not tax deductible, fair value changes of equity securities investments and exchangeable senior notes recorded in other income/(expense), net of tax, and other applicable items. Trip.com Group’s management believes the non-GAAP financial measures facilitate better understanding of operating results from quarter to quarter and provide management with a better capability to plan and forecast future periods.

Non-GAAP information is not prepared in accordance with GAAP, does not have a standardized meaning under GAAP, and may be different from non-GAAP methods of accounting and reporting used by other companies. The presentation of this additional information should not be considered a substitute for GAAP results. A limitation of using non-GAAP financial measures is that non-GAAP measures exclude share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes recorded in other income/(expense), and their tax effects that have been and will continue to be significant recurring expenses in Trip.com Group’s business for the foreseeable future.

Reconciliations of Trip.com Group’s non-GAAP financial data to the most comparable GAAP data included in the consolidated statement of operations are included at the end of this press release.

About Trip.com Group Limited

Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) is a leading global one-stop travel platform, integrating a comprehensive suite of travel products and services and differentiated travel content. It is the go-to destination for many travelers in Asia, and increasingly for travelers around the world, to explore travel, get inspired, make informed and cost-effective travel bookings, enjoy hassle-free on-the-go support, and share travel experience. Founded in 1999 and listed on Nasdaq in 2003 and HKEX in 2021, the Company currently operates under a portfolio of brands, including Ctrip, Qunar, Trip.com, and Skyscanner, with the mission “to pursue the perfect trip for a better world.”

For further information, please contact:

Investor Relations
Trip.com Group Limited
Tel: +86 (21) 3406-4880 X 12229
Email: iremail@trip.com

 

Trip.com Group Limited

Unaudited Consolidated Balance Sheets

(In millions, except share and per share data)

December 31, 2024

June 30, 2025

June 30, 2025

RMB (million)

RMB (million)

USD (million)

ASSETS

Current assets:

Cash, cash equivalents and restricted cash

51,093

58,313

8,140

Short-term investments

28,475

21,705

3,030

Accounts receivable, net 

12,459

14,413

2,012

Prepayments and other current assets 

20,093

22,085

3,083

Total current assets

112,120

116,516

16,265

Property, equipment and software

5,053

5,394

753

Intangible assets and land use rights

12,840

12,967

1,810

Right-of-use asset

755

766

107

Investments (Includes held to maturity time deposit and
financial products of RMB10,453 million and RMB14,097
million as of December 31,2024 and June 30, 2025,
respectively)

47,194

51,121

7,136

Goodwill

60,911

61,884

8,639

Other long-term assets

454

514

72

Deferred tax asset

3,254

3,276

457

Total assets

242,581

252,438

35,239

LIABILITIES

Current liabilities:

Short-term debt and current portion of long-term debt

19,433

28,202

3,937

Accounts payable

16,578

19,506

2,723

Advances from customers

18,029

19,692

2,749

Other current liabilities

19,970

20,054

2,800

Total current liabilities

74,010

87,454

12,209

Deferred tax liability

4,098

3,640

508

Long-term debt

20,134

10,938

1,527

Long-term lease liability

561

543

76

Other long-term liabilities

296

383

53

Total liabilities

99,099

102,958

14,373

MEZZANINE EQUITY

743

791

110

SHAREHOLDERS’ EQUITY

Total Trip.com Group Limited shareholders’ equity

141,807

147,646

20,610

Non-controlling interests

932

1,043

146

Total shareholders’ equity

142,739

148,689

20,756

Total liabilities, mezzanine equity and shareholders’
equity

242,581

252,438

35,239

 

Trip.com Group Limited

Unaudited Consolidated Statements of Income

(In millions, except share and per share data)

Three Months Ended

Six Months Ended

June 30, 2024

March 31, 2025

June 30, 2025

June 30, 2025

June 30, 2024

June 30, 2025

June 30, 2025

RMB (million)

RMB (million)

RMB (million)

USD (million)

RMB (million)

RMB (million)

USD (million)

Revenue:

Accommodation reservation 

5,136

5,541

6,225

869

9,632

11,766

1,642

Transportation ticketing 

4,871

5,418

5,397

753

9,871

10,815

1,510

Packaged-tour 

1,025

947

1,079

151

1,908

2,026

283

Corporate travel

633

573

692

97

1,144

1,265

177

Others

1,123

1,371

1,471

205

2,154

2,842

397

Total revenue

12,788

13,850

14,864

2,075

24,709

28,714

4,009

Less: Sales tax and surcharges

(16)

(20)

(21)

(3)

(32)

(41)

(6)

Net revenue

12,772

13,830

14,843

2,072

24,677

28,673

4,003

Cost of revenue

(2,312)

(2,705)

(2,818)

(393)

(4,550)

(5,523)

(771)

Gross profit

10,460

11,125

12,025

1,679

20,127

23,150

3,232

Operating expenses:

Product development *

(2,993)

(3,525)

(3,500)

(489)

(6,102)

(7,025)

(981)

Sales and marketing *

(2,835)

(2,999)

(3,326)

(464)

(5,147)

(6,325)

(883)

General and administrative *

(1,077)

(1,038)

(1,097)

(153)

(2,008)

(2,135)

(298)

Total operating expenses

(6,905)

(7,562)

(7,923)

(1,106)

(13,257)

(15,485)

(2,162)

Income from operations

3,555

3,563

4,102

573

6,870

7,665

1,070

Interest income 

634

640

609

85

1,226

1,249

174

Interest expense

(514)

(286)

(265)

(37)

(1,013)

(551)

(77)

Other (expense)/income

(183)

1,137

1,114

155

576

2,251

314

Income before income tax

expense and equity in

income/(loss) of affiliates

3,492

5,054

5,560

776

7,659

10,614

1,481

Income tax expense

(693)

(638)

(998)

(139)

(1,357)

(1,636)

(228)

Equity in income/(loss) of affiliates

1,089

(102)

318

44

1,911

216

30

Net income

3,888

4,314

4,880

681

8,213

9,194

1,283

Net income attributable to non-
controlling interests and mezzanine
classified non-controlling interests

(55)

(37)

(34)

(5)

(68)

(71)

(10)

Net income attributable to

Trip.com Group Limited

3,833

4,277

4,846

676

8,145

9,123

1,273

Earnings per ordinary share 

– Basic

5.84

6.48

7.34

1.02

12.46

13.82

1.93

– Diluted

5.57

6.09

6.97

0.97

11.93

13.05

1.82

Earnings per ADS 

– Basic

5.84

6.48

7.34

1.02

12.46

13.82

1.93

– Diluted

5.57

6.09

6.97

0.97

11.93

13.05

1.82

Weighted average ordinary shares
outstanding 

– Basic

655,857,569

660,203,576

659,916,799

659,916,799

653,603,638

660,060,247

660,060,247

– Diluted

687,977,626

702,144,923

695,705,348

695,705,348

682,766,701

698,925,198

698,925,198

* Share-based compensation included in Operating expenses above is as follows:

  Product development 

322

220

258

36

536

478

67

  Sales and marketing 

55

41

53

7

93

94

13

  General and administrative 

297

219

255

35

495

474

66

 

Trip.com Group Limited

Unaudited Reconciliation of  GAAP and Non-GAAP Results

(In millions, except %, share and per share data)

Three Months Ended

Six Months Ended

June 30, 2024

March 31, 2025

June 30, 2025

June 30, 2025

June 30, 2024

June 30, 2025

June 30, 2025

RMB (million)

RMB (million)

RMB (million)

USD (million)

RMB (million)

RMB (million)

USD (million)

Net income

3,888

4,314

4,880

681

8,213

9,194

1,283

Less: Interest income

(634)

(640)

(609)

(85)

(1,226)

(1,249)

(174)

Add: Interest expense

514

286

265

37

1,013

551

77

Add: Other expense/(income)

183

(1,137)

(1,114)

(155)

(576)

(2,251)

(314)

Add: Income tax expense

693

638

998

139

1,357

1,636

228

Less: Equity in (income)/loss of affiliates

(1,089)

102

(318)

(44)

(1,911)

(216)

(30)

Income from operations

3,555

3,563

4,102

573

6,870

7,665

1,070

Add: Share-based compensation

674

480

566

78

1,124

1,046

146

Add: Depreciation and amortization

207

204

212

29

416

416

58

Adjusted EBITDA

4,436

4,247

4,880

680

8,410

9,127

1,274

Adjusted EBITDA margin

35 %

31 %

33 %

33 %

34 %

32 %

32 %

Net income attributable to Trip.com Group Limited

3,833

4,277

4,846

676

8,145

9,123

1,273

Add: Share-based compensation

674

480

566

78

1,124

1,046

146

Add: Loss/(gain) from fair value changes of equity securities
investments and exchangeable senior notes

435

(526)

(447)

(62)

(244)

(973)

(136)

Add: Tax effects on fair value changes of equity securities

investments and exchangeable senior notes

43

(43)

46

7

15

3

0

Non-GAAP net income attributable to Trip.com Group Limited

4,985

4,188

5,011

699

9,040

9,199

1,283

Weighted average ordinary shares outstanding-
 Diluted-non GAAP 

687,977,626

702,144,923

695,705,348

695,705,348

682,766,701

698,925,198

698,925,198

Non-GAAP Diluted income per share 

7.25

5.96

7.20

1.01

13.24

13.16

1.84

Non-GAAP Diluted income per ADS 

7.25

5.96

7.20

1.01

13.24

13.16

1.84

Notes for all the condensed consolidated financial schedules presented:

Note 1: The conversion of Renminbi (RMB) into U.S. dollars (USD) is based on the certified exchange rate of USD1.00=RMB7.1636 on June 30, 2025 published by the Federal Reserve Board.

Manny Halley Greenlights “True to the Game” TV Series

Series is Based on New York Times Best Selling Novel and Expands the Popular “True the Game” Franchise Beyond the Feature Film Trilogy

LOS ANGELES, Aug. 28, 2025 /PRNewswire/ — Manny Halley (True to the Game, Dutch, SoulMates) is expanding the popular True to the Game franchise, making a new TV series adapted from Terri Woods’ New York Times best-selling book series, that will star Sierra Capri (On My Block), Bentley Green (White Men Can’t Jump), Vivica A. Fox (Independence Day), Angell Conwell (The Young and the Restless) and Carl Anthony Payne II (Martin, Young Dylan).

True to the Game brings the electrifying love story of Gena and Quadir to the small screen. When Gena, a sharp and independent young woman, falls for Quadir, a charming and calculated kingpin, their passion ignites a dangerous game. Determined to leave the streets behind for love, Quadir soon learns that in the world of power and betrayal, walking away comes at a deadly price.

Written by Cas Sigers-Beedles, episodes will be directed by Salvatore Sclafani, Preston A. Whitmore II, Vivica A Fox, Jamal Hill, David Wolfgang and D’Angela Steed. Manny Halley is an executive producer and producing via his A Manny Halley Productions banner. Production of the series will commence this fall in Los Angeles.

Said Halley, “Extending the True to the Game franchise via episodic storytelling allows us to really go deep into the world and characters created by Terri Woods and enjoyed by millions around the world. These are charismatic and complex characters that audiences really want to spend time with and explore in authentic ways. We have a collective vision for how this series plays out that services the appetite for lovers of the franchise as well as those who will be discovering the story for the first time.”

True to the Game franchise started in 2017 with Columbus Short, Vivica A. Fox, Erica Peeples, Jeremy Meeks, Andra Fuller and Malcolm David Kelley starring in the first installment directed by Preston A Whitmore II. Two more films True to the Game 2 and 3 were released in 2020 and 2021, respectively and garnered a cult following on streaming and cable. All films were produced by Halley’s Imani Media Group and distributed under Faith Media Distribution including limited theatrical releases.

Sierra Capri is represented by Independent Artists Group (IAG) and Aligned Entertainment. Bentley Green is represented by Independent Artists Group (IAG) and LBI Entertainment. Vivica A. Fox is represented by Sheila Legette Entertainment and A3 Artists Agency. Angell Cornwell is represented by Priluck Company and Yorn, Levine, Barnes, Krintzman, Rubenstein, Kohner, Endlich, Goodell & Gellman.

Halley most recently completed production in Los Angeles on Lot Patrol, a comedy TV series he created with Ernest Dancy starring DeRay Davis, Carl Anthony Payne II, Tamera Kissen, Darius McCrary and comedians Skeet Carter, TK Kirkland, Alex Thomas and Tanjareen Thomas.

Manny Halley is an accomplished film and television producer, talent manager, and entertainment executive who founded and runs the multidimensional Imani Media Group, which made a name for itself in the music industry for more than two decades, working with recording artists including Nicki Minaj, Young Thug, and Keyshia Cole.

Halley has produced and distributed multiple films and television projects, collaborating with the likes of Netflix, Tubi, BET, Apple TV, and Amazon Prime Video. Imani MG’s film and TV distribution arm, Faith Media Distribution, has worked with AMC Theatres, Netflix, BET, and Sony Home Entertainment, distributing films such as True to the Game and its sequels. In television, he’s made scripted drama series Legacy and the crime drama Angel for BET as well as the reality series Keyshia Cole: The Way It Is, and the spinoff, Frankie and Neffe.

MANTRA Announces Additional $25,000,000 Minimum Funding Commitment for First of Strategic OM Token Buybacks

  • Backed by key investors and stakeholders the buyback will be executed transparently over several months across publicly traded centralized exchange venues
  • Including Inveniam’s $20,000,000 investment, total commitments now reach $45,000,000, reinforcing institutional confidence in OM and MANTRA’s RWA ecosystem

ZUG, Switzerland, Aug. 28, 2025 /PRNewswire/ — MANTRA, a layer 1 blockchain purpose-built for tokenized real world assets (RWAs), today announces the first tranche of its buyback of OM tokens, supported and funded by a group of its key investors and stakeholders, via a $25,000,000 (minimum) commitment.


This first buyback follows Inveniam’s recent $20 million investment in MANTRA to advance institutional market infrastructure, and increase private real world asset participation and adoption. Combined, these two announcements reflect a minimum $45 million commitment.

The strategic buyback reflects the key partners’ continued belief and confidence in MANTRA’s ecosystem, as well as the long-term value and sustainability of the OM token. Today’s announcement confirms MANTRA CEO and Founder, John Patrick Mullin’s statement in April 2025 that a strategic token buyback was planned and would occur.

From 27 August, 2025, MANTRA AG, MANTRA Chain Association’s wholly owned subsidiary, will execute the buyback transparently over several months until all the proceeds have been fully deployed. Recurring buy orders at, or near, current market prices, will be placed by well regarded independent trading firms, across publicly traded centralized exchange venues. Upon completion of each tranche, all purchased OM tokens will be withdrawn from exchanges as ERC20 tokens, migrated to MANTRA Chain mainnet, and staked with MANTRA’s validator set.

Periodic progress updates will be provided via MANTRA’s X account, as the buybacks are executed and completed. The wallets storing the repurchased and staked OM will be published via the OM token dashboard.

“This buyback program is a pivotal moment for MANTRA. It is not merely a financial transaction but a signal of confidence from our existing partners and key stakeholders. Through the repurchasing of OM on the open market, we reinforce our belief in the long-term utility of the token, support our vision for the ecosystem and return value to token holders,” John Patrick Mullin, CEO and Founder of MANTRA said.

At current prices, the total value of the repurchasing program corresponds to roughly 110 million OM. This would account for roughly 10% of OM’s circulating supply.

About MANTRA
MANTRA  is a purpose-built Layer 1 blockchain for real-world assets, capable of adherence to real-world regulatory requirements. As a permissionless chain, MANTRA Chain empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced technology modules, compliance mechanisms, and cross-chain interoperability.

MANTRA holds a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), to operate as a Virtual Asset Exchange, as well as provide Broker-Dealer and Management and Investment Services.

CATL Unveils TENER Stack at Smarter E South America 2025, Expands Presence in South America

SÃO PAULO, Aug. 28, 2025 /PRNewswire/ — CATL, a global leader in innovative energy storage solutions, unveiled its latest technologies in its debut at the Smarter E South America 2025, the largest energy storage exhibition on the continent. TENER Stack—currently the world’s first stackable, 9MWh ultra-large capacity energy storage system—is adaptable to CATL’s different cell technologies, offering either up to five years of zero degradation or high-temperature resistance. It is suitable for South America’s varied climates, underscoring CATL’s commitment to sustainable energy development throughout the region.

Brazil possesses one of the most diversified applications of energy storage systems in the world. With our proven track record in delivering product solutions for a diverse range of decarbonization applications, and the strong local partnerships we are shaping, we are committed to helping accelerate the region’s transition to clean energy,” said Ray See, Executive President, Americas Energy Storage Business Division.

Tailored for Brazil’s demanding conditions

Brazil’s energy market is at a tipping point, poised for rapid growth due to a grid dominated by renewables, creating demand for flexibility solutions. BloombergNEF highlights that storage in Brazil is “set to take off,” as by 2050, Brazil requires over $6 trillion in energy investment to reach Net Zero, highlighting its explosive potential.

In response to the fast-growing demand in this region, CATL is introducing TENER Stack, a ground-breaking product that represents a strategic leap forward in capacity, deployment flexibility, safety, and transportability.

The system stores 9MWh of energy, which can fully charge 45 electric buses with 200kWh battery packs or provide 6 years of electricity for an average Brazilian household. It utilizes land area 45% more efficiently and offers 50% higher projected energy density than conventional 20-foot systems. For large projects, it needs 45% fewer containers to build an 800MWh station than 5MWh systems.

Flexibility is built in. The “two-in-one” design weighs less than 36 tonnes, keeping it within transport regulations in 99% of global markets. Its compatibility with standard shipping methods reduces transport costs by up to 35%, while a lower centre of gravity ensures stability on routes with bridges, tunnels, and rural infrastructure constraints.

Safety and reliability are built into the TENER Stack. It uses LFP battery chemistry for thermal stability and upgraded gas sensors that are 40% more sensitive, triggering fire suppression 35% faster. Triple-layer insulation provides up to two hours of fire resistance. The system also meets IEEE693 seismic standards, or otherwise understood as withstanding a magnitude of category 9 earthquakes and Category 5 hurricanes. Its overhead thermal management keeps noise to just 65dB(A), making it suitable for use in cities.

The Brazilian and other South America markets also feature unique challenges: frequent grid fluctuations, high ambient temperatures, and limited maintenance resources across remote installations. TENER Stack is specifically engineered for these diverse conditions.

Its new gas sensors offer a 10-year maintenance-free lifespan, compared to traditional 2-year sensors, reducing operational interruptions in hard-to-access sites. Meanwhile, the redesigned container UPS system features a self-powered design that eliminates reliance on short-lived lead-acid or 8-year LFP batteries, extending backup for BMS and explosion-proof fans from 20 minutes to 2 hours during outages.

Together with other offerings such as the EnerOne+ and TENER series, CATL delivers a broader range of options for off-grid, commercial, and utility-scale energy projects. Designed to be lightweight, highly portable, and equipped with integrated a moisture reduction system, these solutions are built to withstand the humid conditions of rainforests and operate reliably across extreme temperatures from -35°C to 55°C. CATL provides customized energy solutions for projects of all scales across Brazil and South America.

Committed to South America’s Sustainable Future

CATL has already made its mark in Brazil, powering the country’s first utility-scale storage project, the Registro Energy Storage Project, in 2022. After three years of stable operation, it has become a benchmark for the energy storage industry in South America. The site has reached a significant milestone this year by expanding the first power station, marking a new phase of growth for CATL in the local market.

Beyond Brazil, CATL has continuously deepened its global business layout, accelerated the expansion of the industry, and continuously improved its core competitiveness throughout South America. The company is actively building local teams in Chile, Argentina, Mexico, Colombia, and the Dominican Republic.

This September, a new South America office will open in Chile, providing local expertise and support to customers’ innovation. With the TENER series and other cutting-edge energy storage products, CATL continues to push boundaries and reinforce its commitment to helping South American and global partners accelerate the energy transition by delivering more flexible, safe, and sustainable solutions.

As of the end of H1 2025, CATL’s ESS products have been deployed in over 2,000 projects across the world, spanning all climate zones and operating environments. CATL has also ranked first in the market share of global energy storage battery shipments for four straight years in 2024, deploying over 93GWH.

U. S. Air Force Global Strike Command Reinstates the M18 Pistol

Confirms the safety, reliability, and durability of the P320 based M18

NEWINGTON, N.H., Aug. 27, 2025 /PRNewswire/ — SIG SAUER applauds the USAF and the Global Strike Command in their diligence and expediency in the safety inspection related to the investigation into the tragic incident at F.E. Warren Air Force Base.

We remain in direct contact with the Air Force Global Strike Command (AFGSC) leadership during this process and will continue to work with them as they return the M18 to service and provide Airmen with safe, reliable, and effective weapon systems.

As affirmed by the AFGSC, the M18 was specifically designed and rigorously tested to meet stringent requirements unique to the military. The AFGSC command-wide inspection showed that no weapon discharges were attributed to a malfunction and the M18 can safely and reliably accomplish their missions across the globe.

We value this further confirmation of the safety, reliability, and durability of the P320-based M18 and look forward to continuing our partnership with the USAF. The U.S. military selected the M18 and M17 pistols for their safety and extreme reliability. The AFGSC’s comprehensive M18 investigation and inspection validates the platform’s military suitability. SIG SAUER is hopeful the USAF’s thorough inspection and confirmation will satisfy the concerns of ranges, training facilities and organizations who temporarily suspended the use of P320 variants.

The SIG SAUER P320 based M17 and M18 pistols are in service with all branches of the U.S. military and SIG SAUER is extremely proud to support the mission to protect the nation and defend freedom around the world.

For more information on SIG SAUER please visit www.sigsauer.com.

About SIG SAUER, Inc.:
SIG SAUER, Inc. is a leading provider and manufacturer of firearms, electro-optics, ammunition, airguns, suppressors, remote controlled weapons stations, and training. For over 250 years SIG SAUER, Inc. has evolved, and thrived, by blending American ingenuity, German engineering, and Swiss precision. Today, SIG SAUER is synonymous with industry-leading quality and innovation which has made it the brand of choice amongst the U.S. Military, the global defense community, law enforcement, competitive shooters, hunters, and responsible citizens. Additionally, SIG SAUER is the premier provider of elite firearms instruction and tactical training at the SIG SAUER Academy. SIG SAUER is certified a Great Place to Work™. For more information about the company and product line visit: sigsauer.com.

Media Contact:
Phil Strader
Vice President, Consumer Affairs
phil.strader@sigsauer.com

 

 

CRIMSONLOGIC LAUNCHES IMPORT CONTROL SYSTEM 2 ENS FILING SOLUTION, FACILITATING EFFICIENT CUSTOMS SECURITY DECLARATIONS TO THE EU

Empowering businesses with AI-driven automation, EU ICS2 ENS Filing solution streamlines cross-border imports and delivers unmatched supply chain visibility for trade flow in and through the European Union.

IRVINE, Calif., Aug. 28, 2025 /PRNewswire/ — Global technology company CrimsonLogic, a wholly-owned subsidiary of PSA International specializing in digitalization of trade facilitation, customs clearance and port operations, today announced the launch of the European Union (EU) Import Control System (ICS) 2 Entry Summary Declaration (ENS) Filing solution—an advanced, AI-powered solution designed to facilitate the submission of complete shipment information for businesses importing goods into or transiting through the EU.

Effective 1 September 2025, the current Import Control System will be phased out as ICS2 becomes the mandatory system, implementing an entirely new business process aligned with the EU Customs Code.

CrimsonLogic’s new AI-powered EU ICS2 ENS Filing solution facilitates seamless regulatory compliance and provides status visibility, helping businesses achieve timely shipments and smoother movement of goods. Freight forwarders, logistics service providers, importers/ exporters and e-commerce businesses can now clear thousands of shipments in a single step, thanks to its robust automation and information validation features.

Key Features of ICS2:

  • Seamless Integration: Direct connectivity with national Customs systems across all EU member states, as well as Northern Ireland, Norway, and Switzerland, for effortless compliance.
  • Mode-Specific Workflows: Tailored processes for air, sea shipments, optimizing efficiency for every (applicable) transport mode.
  • Multi-Level Filing: Supports filings at the freight forwarder, NVOCC, and consignment levels to streamline operations for all supply chain partners.
  • Advanced Compliance & Risk Management: Validation of EORI number, HS code accuracy and address to prevent entry rejection and ensure shipments meet the latest EU customs regulations.
  • Comprehensive Audit Trails: Automatically generates detailed audit trails for every transaction, supporting transparency and regulatory requirements.

“With our EU ICS2 ENS Filing solution, we are setting a new benchmark for customs compliance and supply chain visibility for trade with the EU,” said Varun Sahai, Head of Trade Business Products at CrimsonLogic. “Our AI-driven solution empowers businesses to seamlessly automate complex customs processes, providing control and confidence when moving goods across borders to the EU. ICS2 is more than a compliance tool—it is a catalyst for operational excellence, further augmenting our suite of digital trade management solutions.”

ABOUT CRIMSONLOGIC

CrimsonLogic, a wholly-owned subsidiary of PSA International, is a global technology company driven by innovation to digitally transform and simplify global trade.

With over 36 years of experience worldwide, CrimsonLogic specializes in technology-enablement in the fields of trade facilitation, customs clearance automation, AI-driven supply chain optimization, port operations and government services. We offer next-generation IID, ACE and ACI eManifest software for U.S. and Canadian customs, along with our advanced port community system, Global PORTNET®.

As a trusted partner to businesses, logistics service providers, governments, port and terminal operators, our tailored solutions are designed to meet the unique needs of every client, enabling seamless and secure optimization of supply chains and operations.

Having pioneered the world’s first single window trade facilitation system for Singapore, CrimsonLogic continues to drive digital transformation in global trade via cutting-edge technology, exemplified by the successful implementation of innovation solutions in over 40 countries worldwide.

www.crimsonlogic.com

RingConn Gen 2 Now Available at BestBuy.com, Expanding Access to Health Innovation

LOS ANGELES, Aug. 28, 2025 /PRNewswire/ — RingConn, known for cutting-edge smart rings, launches its Gen 2 Smart Ring on BestBuy.com, advancing its mission to expand access to advanced health technology in the U.S. The availability of RingConn Gen 2 on BestBuy.com, marks another major strategic step in expanding the brand’s presence in mainstream American retail following its collaboration with Target.com and Walmart.com.

RingConn Gen 2 Smart Ring
RingConn Gen 2 Smart Ring

Best Buy, the leading consumer electronics retailer in the United States, operates more than 1,000 stores nationwide and is renowned for curating innovative technology products that combine performance, convenience, and style. Wearables are one of Best Buy’s core categories, spanning smartwatches, fitness trackers, and smart rings. As an innovation leader in the smart ring sector, RingConn’s entry into Best Buy not only underscores its strengths in technology, market demand, and brand potential, but also signifies an important step in reaching more health-conscious consumers through this mainstream consumer electronics platform. By leveraging Best Buy’s brand influence and extensive retail network, RingConn will further expand its presence and channel footprint in the U.S. market.

With features such as sleep apnea monitoring, ultra-lightweight craftsmanship, and advanced AI integration, RingConn has already earned the trust of over 250,000 users worldwide. While actively expanding its global strategic markets, RingConn remains committed to continuous innovation and its mission of empowering healthier lifestyles, consistently rolling out software updates and functional enhancements. Looking ahead, RingConn will further strengthen its offerings with expanded sports mode support, women’s health features, and a more integrated AI-driven data experience. The U.S. has always been a key strategic market for RingConn, and this partnership with Best Buy will enable the brand to connect with a broader mainstream audience, enhance its influence, and bring RingConn’s vision of health technology into the daily lives of more consumers.

The RingConn Gen 2 Smart Ring, now available at BestBuy.com was launched in late 2024 and broke a Kickstarter category record with $4.4 million in crowdfunding. It’s the world’s first smart ring to offer sleep apnea monitoring. Besides, Gen 2 holds several technical distinctions:

  • Lightest available model at 2-3 grams, and thinnest profile in its category at 2mm
  • Extended battery life of 10-12 days
  • Cross-platform compatibility (Android/iOS) with no subscription fees
  • Advanced menstrual cycle monitoring feature

To ensure the best wearing experience, Best Buy customers can first order a sizing kit on the website, after a period of trial wear to confirm ideal smart ring size. This partnership with Best Buy marks a significant step for RingConn in expanding its presence in the mainstream consumer tech market, enabling the brand to reach more health-conscious users.

About RingConn

Established in 2021, RingConn is a leading personal health technology company dedicated to creating innovative products and services that transform the experience of maintaining personal wellness. Guided by the principle of “Hardware + Software + Services,” RingConn aims to provide unique products and services for people’s health.