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FNZ’s employee shareholders land initial legal blow in share dilution battle

LONDON, Aug. 27, 2025 /PRNewswire/ — Employee shareholders of FNZ, who have filed a USD$4.6 billion class action against FNZ Group Limited and 17 of its current and former Directors, have secured an early victory.

FNZ and its co-defendants’ many counsel lodged seven separate memoranda and two affidavits to halt the court proceedings. However, the New Zealand High Court Judge rejected FNZ’s motion to stay the proceedings, describing the memoranda as falling like snow on the Registry. The Judge agreed with the single memorandum lodged by the employee shareholders.

This is a significant win for the employee shareholders, who allege that conflicted Directors deliberately transferred wealth away from them to the same institutional and private equity investors they represent.

Despite these attempts of procedural legal challenges, the employee shareholders remain undeterred:

“We foresaw this strategy and are well prepared for FNZ doing everything in their power to prevent this from going to the High Court – including trying to bury it in technical minutiae. Seven memoranda and two affidavits later, the case has not been stayed as sought by FNZ and we hope to get back to the merits under the New Zealand Companies Act 1993, which protects minority shareholders.

“This is not a game of technicalities. It is a case about directors’ duties, oppressive conduct and a deliberate transfer of value. And a snowstorm of memoranda is not a defence; it is an attempt to stop the merits being heard. It could even be seen as an admission that those merits will cause them a problem.

“These developments represent another step towards justice,” an employee shareholder spokesperson said.

Hundreds of Class B employee shareholders have now joined the class action, and with further legal success, the case may expand to include other employee shareholders, which could see thousands of employees take action against FNZ.

Chengdu 2025: Beyond the Games

CHENGDU, China, Aug. 27, 2025 /PRNewswire/ — A report from Chengdu Economic Daily: The World Games 2025 Chengdu (TWG 2025 Chengdu) took place from August 7 to 17, 2025. As the premier international multi-sport event for non-Olympic sports, it drew 6,679 athletes and officials from 116 countries and regions, making this edition the largest and most attended in the history of the World Games.

José Perurena, President of the International World Games Association (IWGA), expressed heartfelt appreciation: “Thank you, Chengdu—you’ve made history!” Germany’s Frankfurter Allgemeine Zeitung noted that China has set a benchmark for the next host nation, Germany, with an organizational standard rivaling that of the Olympic Games.

Using Sports to Energize the City: Events Ignite Urban Vitality

Adhering to the 31st FISU Summer World University Games’ philosophy of “simple and splendid” throughout the organizing and hosting of the event, TWG 2025 made full use of its legacy infrastructure. No new venues were built for the event. Among the 27 competition venues, 18 were existing facilities repurposed for new uses, while 9 were temporary installations set up in parks or alongside lakes—seven of which will remain in public use after the Games.

Xinglong Lake Beach Venue (Photo by Hongxing News)
Xinglong Lake Beach Venue (Photo by Hongxing News)

The event has catalyzed substantial progress in public fitness across Chengdu. Since the city began preparing for the event, it has hosted more than 5,000 public sports events annually. The number of regular participants in physical activity has surpassed 9.8 million, with over 95% of residents meeting the national physical fitness standards. The TWG Sports into Communities initiative reached more than 600 communities, attracting over 120,000 participants, while 120 local schools have introduced sports such as lacrosse and frisbee. From roller-skating rinks beneath overpasses and fitness trails in parks to badminton courts next to residential areas, the city’s “forgotten corners” have been turned into vibrant spaces for public exercise.

Unlocking New Synergies: Where Sports, Culture, Commerce, and Tourism Meet

TWG 2025 Chengdu has pioneered a new model for the integrated development of culture, commerce, tourism, and sports. The event set an all-time high in market development revenue, securing partnerships with 26 sponsoring enterprises and 33 donor companies, while launching more than 500 licensed merchandise products. Moreover, the Games significantly boosted international visitor arrivals, with inbound foreign tourists reaching 69,000 during the event—a 72.5% year-on-year increase. Notably, tourist numbers from Germany surged by 4.2 times, Spain by 3.8 times, and Tanzania by 3.1 times. According to Douyin’s Life Services data, group purchase transactions in Chengdu rose by 50.8% during the World Games, while catering and dining payment volumes saw an increase of nearly 60% year-on-year.

Especially worth highlighting is the “ticket-stub economy” model Chengdu has introduced, where event ticket holders enjoyed 50% off admission to ten major scenic areas, cultural venues, and museums, as well as exclusive discounts ranging from 30% to 80% at 56 partner hotels. This innovative “One Ticket Unlocks a Wide Range of Experiences” model ensured that the economic benefits of the event truly extended to both residents and visitors.

International Acclaim Pours In as Chengdu Shines on the World Stage

Athletes and referees participating in TWG 2025 Chengdu experience local life by riding the hotpot-themed sightseeing bus and cruising on the Jinjiang River. (Photo by Hongxing News)
Athletes and referees participating in TWG 2025 Chengdu experience local life by riding the hotpot-themed sightseeing bus and cruising on the Jinjiang River. (Photo by Hongxing News)

During the event, Chengdu received high recognition from various parties. Robert “Nob” Rauch, President of the World Flying Disc Federation (WFDF), hailed the Chengdu Sport University venue as “one of the finest we have ever seen.” Aruba’s flag bearer, Rob Timmermans, won the hearts of Chinese social media users with his radiant positivity, drawing an outpouring of warm wishes from netizens. Italian athletes took a special liking to traditional rope-braided bracelets, while their counterparts from Cyprus found themselves enchanted by Chinese aromatic incense. The panda-inspired medal “Zhuguang,” which literally translates to “bamboo light,” emerged as a cherished keepsake among competitors.

Following the success of TWG 2025, several international sports organizations have established a presence in Chengdu. The IWGA has officially established its Sports Promotion and Research Center in the city, while the TWG Disc Golf Park was unveiled in the Guixi Ecological Park. Furthermore, Chengdu has reached a consensus on preparing for the 2027 FIG Artistic Gymnastics World Championships and the World DanceSport Games, and is actively bidding for other prestigious events, including the 2026 Asia-Oceania Sixes Lacrosse Championship and the Archery World Cup from 2029 to 2031.

Currently, 315 Fortune 500 companies have settled in Chengdu. The city’s network of international sister cities and friendly cooperative partnerships has expanded to 244. Additionally, Chengdu’s international freight trains have made over 32,000 trips. Through these events, Chengdu continues to engage in dialogue with the world. Each gathering centered around sports helps advance exchange and mutual learning among civilizations, allowing the city to shine ever more brightly on the international stage.

Fosun International: Total Revenue for the First Half of 2025 Reaches RMB87.28 Billion, Industrial Operation Profit Amounts to RMB3.15 Billion

HONG KONG, Aug. 27, 2025 /PRNewswire/ — On 27 August, Fosun International Limited (HKEX stock code: 00656) announced its interim results for the six months ended 30 June 2025.

In the first half of 2025, Fosun actively captured macroeconomic trends, maintained a clear strategic focus, and leveraged its strong capabilities in innovation and globalization to drive steady business development. During the Reporting Period, the Group’s total revenue reached RMB87.28 billion, industrial operation profit amounted to RMB3.15 billion, and profit attributable to owners of the parent reached RMB661.2 million.

The four core subsidiaries – Fosun Pharma, Yuyuan, Fosun Insurance Portugal and Fosun Tourism Group (“FTG”) – achieved a total revenue of RMB63.61 billion in the first half of 2025, accounting for 73% of the Group’s total revenue.  Fosun Pharma’s net profit attributable to the owners of the parent reached RMB1.7 billion, up 38.96% year-on-year. Yuyuan’s core businesses stabilized and began to recover, with the jewelry and fashion segment generating RMB12.9 billion in operating revenue during the first half of the year, including RMB7.6 billion in the second quarter, representing a substantial quarter-on-quarter increase. Fosun Insurance Portugal saw steady growth in both domestic and international businesses, achieving a net profit of EUR133 million, representing a year-on-year increase of 27.6%. FTG’s global operational capabilities continued to improve. Its business volume reached a record high of RMB9.53 billion, and adjusted net profit increased by 42.0% year-on-year.

During the Reporting Period, Fosun’s investment in technology innovation reached RMB3.6 billion, with innovative drug business entering a period of rapid growth, fostering multiple achievements attaining ‘China’s first’ and ‘world’s first’ milestones. Among them, FUMAINING (Luvometinib tablets), a Class I new drug independently developed by Fosun Pharma, was approved for marketing in Chinese mainland, filling the treatment gap in the field of rare tumors. In August 2025, the small molecule orally administered DPP-1 inhibitor developed by Fosun Pharma achieved overseas licensing for a potential total of US$645 million.

HLX43, a PD-L1-targeting antibody-drug conjugate (ADC) independently developed by Henlius, has entered global Phase II clinical trials. It is currently undergoing clinical studies for solid tumors such as non-small cell lung cancer and thymic carcinoma in countries including China, the United States, Japan, and Australia, demonstrating significantly stronger competitiveness than leading international pharmaceutical companies in terms of drug safety, efficacy, and R&D progress with the potential to become a broad-spectrum anti-cancer drug. HLX22, an innovative anti-HER2 monoclonal antibody, was granted Orphan Drug Designation (ODD) by the European Commission (EC) for the treatment of gastric cancer, marking it as the first anti-HER2-targeted therapy for gastric cancer to receive ODD approval from both the EU and the US.

Leveraging its business presence and profound industry operations in over 40 countries and regions around the world, Fosun’s overseas revenue reached RMB46.67 billion during the Reporting Period, accounting for 53% of the Group’s total revenue. Henlius’ overseas products profits surged over 200%. As the overseas sales volume of commercialized products continues to rise, the company expects significant growth in overseas revenue and profits for the full year of 2025, with strong momentum likely to continue into 2026.

Club Med’s global performance once again reached a record high. Its business volume amounted to RMB9.25 billion, operating profit reached RMB1.27 billion, representing a year-on-year growth of 11.0%. With strong demand continuing for the summer vacation season and the upcoming snow season, bookings are expected to witness sustainable growth in the second half of 2025 and the first half of 2026.

As of the end of the Reporting Period, the total debt to capital ratio stood at 53%, with debt ratio remaining at a healthy level. In May 2025, the international credit rating agency S&P affirmed Fosun’s credit metrics and maintained its rating outlook as ‘Stable’. The Group’s Hong Kong-listed companies in the Health segment saw a strong market capitalization performance in the first half of 2025, driving a revaluation of underlying asset values.

Guo Guangchang, Chairman of Fosun International, said: “In the first half of the year, we remained steadfast in implementing our core business-focused strategy. Our core segments—pharmaceuticals and healthcare, cultural tourism and consumption, financial services and insurance—delivered steady growth. In particular, we achieved several industry-leading breakthroughs in the innovative drugs, which have not only been well received by the market but will also benefit more patients worldwide. Meanwhile, we continued to strengthen our global operating capabilities, allowing more competitive products and services to accelerate their expansion into international markets and to serve a growing number of families. Looking ahead, we will remain focused on our core businesses, step up innovation efforts, and firmly advance our globalization strategy. Building on our long-established core capabilities, we are committed to driving Fosun’s sustainable growth, scaling new heights in our areas of strength, expanding our leadership across more business areas, and creating greater value for our shareholders and society.”

LIVESTOCK MALAYSIA 2025 SHOWCASES BREAKTHROUGHS IN FEED, FARMING, AND FOOD SECURITY AT KLCC

Three Days of Industry Innovation and Networking, From Global Market Insights to Advanced Feed Solutions and Smart Farming

KUALA LUMPUR, Malaysia, Aug. 27, 2025 /PRNewswire/ — Livestock Malaysia 2025, the Malaysian International Feed, Livestock & Meat Industry Trade Show, opened today at the Kuala Lumpur Convention Centre (KLCC). Organised by Informa Markets Malaysia, the three-day event brings together over 200 leading brands and companies representing 30+ countries. The event is expected to attract more than 6,000 industry professionals, innovators, and stakeholders eager to explore the latest technologies and market trends shaping Southeast Asia’s livestock sector.

LIVESTOCK MALAYSIA 2025 SHOWCASES BREAKTHROUGHS IN FEED, FARMING, AND FOOD SECURITY AT KLCC
LIVESTOCK MALAYSIA 2025 SHOWCASES BREAKTHROUGHS IN FEED, FARMING, AND FOOD SECURITY AT KLCC

As the region’s premier platform for the feed, livestock, and meat value chain, the exhibition showcases cutting-edge technologies, sustainable practices, and market-ready solutions to help producers thrive in an increasingly competitive and resource-constrained environment.

The Opening Ceremony featured YB Dato’ Sri Arthur Kurup, Deputy Minister of Agriculture and Food Security, as Guest of Honour, who outlined Malaysia’s ambitious vision for the sector.

“Half a century ago, Malaysia transformed from an agricultural economy to an industrial powerhouse. Today, we stand at the threshold of a new transformation: becoming a high-tech livestock industry capable of feeding not just our nation, but the wider region,” said YB Dato’ Sri Arthur Kurup.

He highlighted key priorities, including local feed production, palm-based alternative protein development, adoption of precision farming, automation, strengthened biosecurity, and enhanced veterinary capabilities.

With Southeast Asian livestock demand projected to grow 25% by 2030, the industry faces mounting pressures from rising feed costs for imported corn and soybeans, heavy reliance on imported feeder cattle, and transboundary animal diseases. Livestock Malaysia 2025 directly addresses these challenges by serving as a comprehensive solutions hub, connecting industry stakeholders with technologies, partnerships, and strategies designed to build resilience and drive sustainable growth.

“Livestock Malaysia 2025 represents a pivotal moment for our industry,” said Tan Sri Abdul Rahman Mamat, Chairman of Informa Markets Malaysia. “We’re connecting Malaysian farmers with global technologies that can immediately impact their operations, from reducing feed costs to improving animal health outcomes.”

Dr. Aida Muhid, Senior Director of the Department of Veterinary Services Malaysia, reinforced the collaborative approach essential for industry transformation: “We see every farmer as a partner, every integrator as a collaborator, and every industry player as an ally. We are here to remove barriers, not create them – while upholding the highest standards.”

The event features an extensive programme designed to deliver maximum value to attendees. The Technical Seminars, International Livestock Forum, and Association Seminars provide participants with valuable insights into the latest trends, market dynamics, and best practices in livestock management. These educational components complement the exhibition floor, creating a comprehensive learning environment where attendees can gain practical knowledge to make informed business decisions.

Adding to this, the Malaysia Livestock Industry Awards will shine a spotlight on excellence, recognising individuals and organisations whose contributions are driving the sector forward.

Meanwhile, the International Pavilions are a key feature, showcasing a range of innovations from smart feeding systems to advanced biosecurity measures. This gives local livestock farmers the chance to explore global best practices and discover new solutions to improve their operations.

The event aligns with Malaysia’s National Agro-Food Policy 2021-2030, which targets 60% self-sufficiency in key protein sources. Dr. Aida Muhid articulated this vision: “Let us see the future we are building together – where Malaysian livestock products are recognised for quality across Southeast Asia and beyond, where our farms model sustainability and efficiency, and where every Malaysian has access to safe, affordable, locally-produced protein.”

Beyond showcasing innovation, Livestock Malaysia 2025 serves as a business catalyst, with dedicated networking sessions designed to forge partnerships between local producers and international technology providers, creating sustainable growth opportunities in Southeast Asia’s expanding livestock sector.

Livestock Malaysia 2025 runs from 27-29 August 2025 at the Kuala Lumpur Convention Centre. Trade visitors are encouraged to register and participate in this transformative industry event to discover new opportunities, gain valuable insights, and connect with the professionals shaping the future of the livestock sector.

For registration and more information, visit https://www.livestockmalaysia.com/ or contact the organising team at Informa Markets Malaysia.

Notes to Editors:

About Livestock Malaysia

Since 2001, Livestock Malaysia has become the nation’s premier exhibition and conference for the feed, livestock, and meat industries. This leading event, formerly known as Livestock Asia, brings together key players – from farmers and producers to suppliers and government agencies. Organised by Informa Markets, the event features the latest technologies, targeted technical seminars, and high-value networking to tackle industry challenges and promote sustainable growth. With its focus on innovation, education, and collaboration, Livestock Malaysia continues to strengthen and advance the regional livestock community toward a resilient and prosperous future.

About Informa Markets

Informa Markets creates platforms for industries and specialist markets to trade, innovate, and grow. As a global leader in exhibitions, conferences, and B2B events, Informa Markets brings together buyers and sellers across a wide range of industries, helping businesses connect, discover new opportunities, and drive meaningful partnerships. With a portfolio spanning over 450 international events and brands across markets including healthcare, infrastructure, food, hospitality, automotive, and more, Informa Markets delivers trusted platforms that support business growth and industry development worldwide.

FTFT Announces Special Meeting of Shareholders

NEW YORK, Aug. 27, 2025 /PRNewswire/ — Future FinTech Group Inc. (NASDAQ: FTFT), (hereinafter referred to as “Future FinTech”, “FTFT” or the “Company”), a comprehensive financial and digital technology service provider, announced today that its special meeting of shareholders will take place on September 2, 2025 at 10:00 a.m. Hong Kong time (or 10:00 p.m. Eastern Standard Time), at the Company’s corporate headquarters, located at 02B-03A, 23/F, Sino Plaza, 255-257 Gloucester Road, Causeway Bay, Hong Kong, Special Administrative Region, People’s Republic of China.

We encourage all shareholders as of the record date at the close of business on July 2, 2025 to submit their vote by accessing their Proxy Card which can be found on page ANNEX A of the Company’s Proxy Statement that has been mailed to shareholders of record. The Shareholders’ Proxy Card on page ANNEX A can also be accessed via the Company’s Proxy Statement filed with the SEC at sec.gov/Archives/edgar/data/1066923/000121390025073438/ea0250682-02.htm#T99110 which contains instructions on how to vote online, by email, by fax and by mail.

About Future Fintech Group Inc.

Future FinTech Group Inc. (NASDAQ: FTFT) is a comprehensive financial and digital technology service provider. The Company, through its subsidiaries, conducts brokerage and investment banking services in Hong Kong, and engages in supply chain trading and finance businesses in China and efficient digital financial services. For more information, please visit www.ftft.com.

Safe Harbor Statement

Certain statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include statements regarding our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties, and other factors that may be beyond our control, which may cause the actual results, performance, capital, ownership, or achievements of the Company to be materially different from those implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements by our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target” and other similar words and expressions relating to the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, the risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2024 and our other reports and filings with the SEC. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise, or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements are otherwise made.

Momcozy Ergonest Maternity Belly Band Nominated for Prestigious Kind+Jugend Innovation Award 2025


LONDON, UK – Media OutReach Newswire – 27 August 2025 – Momcozy, a leading maternity and baby brand trusted by over 3.6 million mothers worldwide, is proud to announce that its Ergonest Maternity Belly Band has been nominated for the Kind + Jugend Innovation Award 2025. The product is the only Momcozy entry to reach the award’s final session, underscoring its breakthrough design and impact in the global maternity care sector.

Recognition on the Industry’s Biggest Stage

Kind + Jugend, held annually in Cologne, Germany, is regarded as the most influential international trade fair for the baby and maternity industry. Its Innovation Award is among the most respected global honors, highlighting products that set new standards in design, functionality, and care.

The nomination of Momcozy’s Ergonest Belly Band reflects both the jury’s approval and the endorsement of midwives, who recognize its value in advancing maternal comfort and health. Winners will be announced on September 9, 2025, during the Kind + Jugend opening ceremony. The Ergonest Belly Band is also in the running for the “Midwives’ Choice” Award, which honors products proven beneficial in real-world use.

Momcozy will be showcasing at Kind + Jugend 2025.

Date: September 9–11, 2025
Booth: Hall 11.2, Stand A008
Location: Koelnmesse, Cologne, Germany

Pioneering Design: Ergonest Support Structure™ + O-Shaped Molding

The Ergonest Maternity Belly Band is the first in the industry to integrate the patented Ergonest Support Structure™ with an O-shaped 3D molding system, offering unmatched stability and relief for expectant mothers.

  • Ergonest Support Structure™ relieves lower back pain.
  • O-shaped molding reduces belly pressure and enhances daily support.
  • Soft, breathable fabrics ensure a gentle fit for long hours of wear.

This innovative belly band helps reduce strain, improve posture, and provide much-needed comfort throughout pregnancy—allowing mothers to move more freely and confidently.

More Than a Product: A Commitment to Women’s Health

For Momcozy, this recognition goes beyond product innovation. It reflects the company’s dedication to empowering women and creating solutions that support maternal well-being.

“Being nominated for the Kind + Jugend Innovation Award is not only an honor for the Ergonest Maternity Belly Band, but also a validation of our mission to make motherhood more comfortable, supported, and celebrated,” said Fiona, GTM Director at Momcozy.

Hashtag: #Momcozy

The issuer is solely responsible for the content of this announcement.

About Momcozy

Momcozy is a global mother and baby brand, serving over 4.5 million* mothers in more than 60 countries and regions. Since 2018, we’ve evolved to meet the unique needs of moms and their families, offering a range of products from pregnancy through early motherhood. As the Cozy Reformer, we always put moms first, delivering innovative solutions, comfort, and support to bring joy and ease to their journeys.

Turnitin Expands Capabilities Amid Rising Threats Posed by AI Bypassers

New detection feature helps educators detect potential AI misuse

OAKLAND, Calif., Aug. 27, 2025 /PRNewswire/ — Turnitin, a leading provider of technology solutions in academic integrity, announced that its existing AI writing detection capabilities now include AI bypasser detection*, designed to help educators detect text that may have been intentionally modified by AI humanizer tools. These latest updates further ensure that Turnitin keeps pace with the evolving LLM landscape.

The past two years has seen a rise in AI bypasser tools, or “humanizers,” which allow students to disguise AI-generated text as human-written, evading detection by both teachers and AI tools. The easy availability of these tools poses a growing threat to academic integrity, shifting students’ focus from merely using AI to actively concealing it, making it harder for educators to verify the originality of submitted work and negatively impacting a student’s learning experience.

The new bypasser detection capability is integrated seamlessly with Turnitin’s overall AI writing detection capabilities. When AI writing detection is enabled, educators can automatically check submissions for likely AI-generated content as well as content that may have been further modified by leading bypassers without the need for additional integrations or outside tools that could pose data or security risks. Turnitin’s AI bypasser detection enables educators to uphold academic integrity detecting AI-generated content even if it’s been modified by bypassers, with the sole aim of evading detection.

“While cheating has always been a concern of educators, with the rise of AI, there has been a new category formed of cheating providers. These companies exist to profit from students’ misuse of AI by providing free and easy access to humanizers to conceal AI-generated content,” said Annie Chechitelli, chief product officer, Turnitin. “In service of our ongoing commitment to AI writing transparency, we’ve updated our software to detect leading AI bypasser modifications so educators can uphold academic integrity against this emerging challenge.”

AI presents exciting potential to enhance education, but its misuse, particularly through the emergence of AI bypassers, presents real challenges to learning and academic integrity. These bypassers undermine the educational process by working against genuine learning, eroding trust between educators and students, and diminishing the educator’s ability to confidently ensure students understand the course material.

Turnitin’s AI bypasser detection is now available as part of Turnitin’s AI writing detection capabilities within the Turnitin Originality** add-on & AI capabilities add-on for iThenticate 2.0 customers. 

This launch follows the recent introduction of Turnitin Clarity and a rearchitected Turnitin Feedback Studio (TFS) demonstrating Turnitin’s commitment to innovation and delivering a comprehensive solution to help educators and administrators.

* The AI bypasser feature has been trained and tested to support interactions in English only.
** AI writing detection is available when licensing Turnitin Originality.

Press Contact:
press@turnitin.com 

About Turnitin
Turnitin is a global company dedicated to ensuring the integrity of education and meaningfully improving learning outcomes. For more than 25 years, Turnitin has partnered with educational institutions to promote honesty, consistency, and fairness across all subject areas and assessment types. Turnitin products are used by educational institutions and certification and licensing programs to uphold integrity and increase learning performance, and by students and professionals to do their best, original work.

Turnitin has offices in Australia, Germany, India, Japan, South Korea, Mexico, the Netherlands, Sweden, The United Arab Emirates, the United Kingdom and the United States. Over 16,000 customers in 185 countries use Turnitin services: Gradescope by Turnitin, iThenticate, Turnitin Feedback Studio, Turnitin Originality, Turnitin Similarity, ExamSoft by Turnitin, ProctorExam and Ouriginal.

NaaS Technology Inc. Releases 2024 ESG Report, Highlighting Strong Green Transition Initiatives

BEIJING, Aug. 27, 2025 /PRNewswire/ — NaaS Technology Inc. (Nasdaq: NAAS) (“NaaS” or the “Company”), the first U.S.-listed EV charging service company in China, today announced the release of its 2024 Environmental, Social and Governance (ESG) Report (the “Report”). The Report underscores the Company’s commitment to strong governance, technological innovation, green and low-carbon transition, employee empowerment, and ecosystem collaboration. Furthermore, the Company establishes a new long-term target of achieving net-zero emissions across Scopes 1, 2, and 3 by 2050.

Key Highlights from the 2024 ESG Report:

  • Green Transition: NaaS achieved 3.22 million tons of carbon reduction through EV charging services, while cutting the Company’s total greenhouse gas emissions by more than 47%. Notably, the Company’s Anji Heavy Truck Integrated Energy Station Project became the first facility in China to obtain the FAST-Infra certification.
  • Innovation Focus: Throughout the year, the Company filed 56 patents applications and secured 38 granted patents. Additionally, NaaS joined the AI Application Alliance alongside leading innovation-driven companies such as Huawei and Alibaba Cloud.
  • Ecosystem Collaboration: NaaS jointly released the 2024 White Paper on Carbon Inclusion Development with 14 partner organizations; Meanwhile, the Company facilitated China’s first carbon reduction transaction for EV charging services with carbon account users exceeding 1 million.

In 2024, the Company achieved significant advancements across key international ESG rating frameworks, further solidifying its position as a global leader in the space. In the S&P Global Corporate Sustainability Assessment (CSA), NaaS scored 72 points, ranking top 1 in the China’s retail industry and seventh in the global retail industry, among the Top 1% of global performers. In the CDP Climate Change Questionnaire, the Company received an “A” rating, the highest grade. Meanwhile, its Sustainable Fitch ESG Rating improved to 78 points, the highest score in the Asia-Pacific region as of 2024, making it the first company in China recognized as a “Pure Player”.

Ms. Yang Wang, Chief Executive Officer of NaaS commented, “We will continue to implement a systematic ESG management framework covering governance, innovation, environment, people, and ecosystem, embedding sustainability in our routine operations. Guided by New- Quality Productive Forces, we will further enhance the intelligent upgrade of green energy infrastructure and drive deeper synergy between ESG management and long-term value creation.”

About NaaS Technology Inc.

NaaS Technology Inc. is the first U.S.-listed EV charging service company in China. The Company is a subsidiary of Newlinks Technology Limited, a leading energy digitalization group in China. The Company is one of the leading providers of new energy asset operation services. The Company utilizes advanced technology to intelligently match charging supply with demand, offering electric vehicle users a seamless, efficient, and smart charging experience. Furthermore, NaaS empowers charging stations and charging station operators to optimize their operations, driving greater efficiency and enhancing profitability.

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update 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 its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NaaS’ goals and strategies; its future business development, financial conditions and results of operations; its ability to continuously develop new technology, services and products and keep up with changes in the industries in which it operates; growth of China’s EV charging industry and EV charging service industry and NaaS’ future business development; demand for and market acceptance of NaaS’ products and services; NaaS’ ability to protect and enforce its intellectual property rights; NaaS’ ability to attract and retain qualified executives and personnel; the COVID-19 pandemic and the effects of government and other measures that have been or will be taken in connection therewith; U.S.-China trade war and its effect on NaaS’ operation, fluctuations of the RMB exchange rate, and NaaS’ ability to obtain adequate financing for its planned capital expenditure requirements; NaaS’ relationships with end-users, customers, suppliers and other business partners; competition in the industry; relevant government policies and regulations related to the industry; and fluctuations in general economic and business conditions in China and globally. Further information regarding these and other risks is included in NaaS’ filings with the SEC.

For investor and media inquiries, please contact:

Investor Relations
NaaS Technology Inc.
E-mail: ir@enaas.com 

Media inquiries:
E-mail: pr@enaas.com