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JLL Receives Frost & Sullivan’s 2025 APAC and Singapore Company of the Year Recognitions for Facility Management

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JLL is recognized for redefining facility management through AI-driven innovation, people-centric design, and sustainability leadership across Asia-Pacific and Singapore.

SAN ANTONIO, Nov. 17, 2025 /PRNewswire/ — Frost & Sullivan is pleased to announce that JLL has received the 2025 Asia-Pacific and Singapore Company of the Year Recognitions in the facility management (FM) industry for its exceptional performance, innovation, and customer-centric excellence. These honors underscore JLL’s continued leadership in transforming facility management into a strategic platform that drives operational resilience, sustainability, and long-term client value in an increasingly dynamic market environment.

These honors underscore JLL’s continued leadership in transforming facility management into a strategic platform that drives operational resilience, sustainability, and long-term client value in an increasingly dynamic market environment.
These honors underscore JLL’s continued leadership in transforming facility management into a strategic platform that drives operational resilience, sustainability, and long-term client value in an increasingly dynamic market environment.

Frost & Sullivan evaluates companies through a rigorous benchmarking process across two key dimensions: strategy effectiveness and strategy execution. JLL excelled in both, showcasing its ability to align long-term vision with operational excellence and consistently deliver measurable impact across client portfolios. According to Janice Wung, industry principal at Frost & Sullivan, “JLL’s approach exemplifies how strategic innovation can redefine the facility management landscape. Through its integrated Workplace Management platform, data-driven intelligence, and people-first philosophy, JLL is not only optimizing building performance but transforming workplaces into ecosystems of productivity, sustainability, and well-being.”

Guided by a forward-looking strategy focused on digital transformation, sustainability, and human experience, JLL has evolved its service delivery through the global integration of its Workplace Management (WPM) offering under the Real Estate Management Services (REMS) segment. This framework brings together facility management, portfolio management, project and development services, and sustainability consulting under a unified data and technology architecture. The model enhances agility and scalability, ensuring clients benefit from holistic, performance-driven real estate management solutions.

Innovation is at the core of JLL’s success. Through its AI-driven Falcon platform, the company has pioneered real-time insights, predictive maintenance, and autonomous operations that optimize performance and minimize costs. Complementary solutions, such as JLL Azara and Agentic AI, provide actionable intelligence and automation, while JLL Serve digitizes assets and maintenance management to drive measurable efficiency gains across global client portfolios. Together, these initiatives position JLL at the forefront of intelligent facility management, leveraging analytics, IoT, and automation to deliver greater transparency, responsiveness, and operational value.

Beyond technology, JLL’s focus on employee experience and well-being demonstrates its human-centered approach to real estate transformation. By applying cognitive science and neuroscience through initiatives such as Brain-Body Gym, a part of its Work Science Program, JLL enables clients to create work environments that enhance cognitive performance, engagement, and overall well-being. This innovative approach bridges the gap between space, technology, and people, transforming workplaces into strategic assets that foster collaboration, creativity, and sustained performance.

Sustainability is another defining pillar of JLL’s leadership. Its Sustainable FM program leverages technology, analytics, and expert frameworks—such as the 5Rs (Reduce, Reuse, Recycle, Rethink, Replace)—to deliver tangible energy, water, and waste savings for clients. Partnerships with platforms like IBM’s Envizi enable streamlined sustainability data management, reducing reporting time by 50% and driving multimillion-dollar efficiency gains. Through the JLL Foundation, the company also supports climate-tech innovation, reinforcing its broader mission to decarbonize and future-proof the built environment.

“As workplace paradigms evolve and technology reshapes business, organizations must harness AI and data-driven insights to convert disruption into opportunity and lasting value. At JLL, we are committed to transforming real estate for a better world leveraging innovation to create workplaces that are not only intelligent and efficient, but also sustainable and people-centric. This recognition affirms our belief that forward-thinking, integrated solutions are the foundation for meaningful impact, client success, and a positive future for the built environment,” said Susheel Koul, CEO, Real Estate Management Services, APAC, JLL

Frost & Sullivan commends JLL for setting a regional benchmark in strategic leadership, technological excellence, and client partnership. The company’s integrated approach to workplace management, combined with its continued investment in AI, sustainability, and human experience, has redefined the scope and potential of facility management in Asia-Pacific and Singapore.

Each year, Frost & Sullivan presents the Company of the Year Recognition to an organization that demonstrates outstanding strategy development and implementation, resulting in measurable improvements in market share, customer satisfaction, and competitive positioning. The recognition celebrates companies that not only respond to market needs but also actively shape their industries through innovation and growth excellence.

Frost & Sullivan Best Practices Recognition
Frost & Sullivan’s Best Practices Recognitions honor companies across regional and global markets that exhibit exceptional achievement and consistent excellence in areas such as leadership, technological innovation, customer experience, and strategic product development. Each recognition is the result of a rigorous analytical process in which Frost & Sullivan industry experts benchmark performance through comprehensive interviews, deep-dive analysis, and extensive secondary research. The goal is to identify true best-in-class organizations that are driving transformative growth and setting new industry standards.
Contact us: Start the discussion.

Contact:
Tarini Singh
E: Tarini.Singh@frost.com 

About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 113,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Contact:
Imran Khan
E: imran.khan1@jll.com

 

Philippines Logistics Webinar to Be Hosted by Nippon Express (South Asia & Oceania)

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Advertorial Desk
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TOKYO, Nov. 17, 2025 /PRNewswire/ — Nippon Express (South Asia & Oceania) Pte. Ltd., a group company of NIPPON EXPRESS HOLDINGS, INC., will be holding “Philippines Logistics Webinar” on Wednesday, November 26, and Thursday, November 27.

Logo:
https://drive.google.com/file/d/1dqm0cxpYamnvMUra1AGXMuGlX932Z353/view?usp=drive_link 

Philippines Logistics Webinar:
https://drive.google.com/file/d/1ii2UWK0yD_waJqsa9b2IMg87IHmhwbeD/view?usp=drive_link 

The Philippines, backed by stable economic growth and a workforce with strong English skills, is attracting attention as an international business hub. In recent years, infrastructure development for ports and airports has progressed, particularly in the Metro Manila area, and the expansion of logistics networks connecting the north and south has further strengthened its role as a vital gateway linking Southeast Asia with the rest of the world.

This webinar will provide basic information on doing business in the Philippines as well as detailed explanations of logistics conditions there. All interested parties are welcome to participate, including companies considering a move into the Philippine market and companies already doing business there.

Event outline

Date:
(Japanese version) Wednesday, November 26, 2025; 15:00-16:00 (*Philippine time)
(English version) Thursday, November 27, 2025; 15:00-16:00 (*Philippine time)

Topic: Logistics conditions in the Philippines

Agenda:
1) Basic information on the Philippines
2) Introduction to logistics infrastructure in the Philippines
3) Systems and processes related to import and export
4) Introduction to the NX Philippines

Format: Online via Microsoft Teams

Organizers:
Nippon Express (South Asia & Oceania) Pte. Ltd.
Nippon Express (Philippines) Corporation.

Participation fee: Free

No. of participants: Up to 800 on a first-come, first-served basis

Registration deadline: Friday, November 21, 2025

How to participate:
Please contact the e-mail address below, providing the names of a participating company and all participants therefrom as well as their desired date of participation.
For registration: nsao-sg-seminar@nipponexpress.com

About the NX Group:
https://drive.google.com/file/d/1mbvBL6C8THZNrR5LREgGeafNkEdaAmV-/view?usp=drive_link 

NX Group official website: https://www.nipponexpress.com/
NX Group’s official LinkedIn account: https://www.linkedin.com/company/nippon-express-group/ 

Millennial Potash Reports Significant Increase In Resource Estimates: Measured + Indicated Resource is up by 275% and Inferred Resource is increased by 210% at its Flagship Banio Potash Project: Measured + Indicated Mineral Resources of 2.45 Billion Tonnes at 15.6% KCl and Inferred Mineral Resources of 3.56 Billion Tonnes at 15.6% KCl

By
Advertorial Desk
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West Vancouver, British Columbia – Newsfile Corp. – November 17, 2025 – Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) (“MLP”, “Millennial” or the “Company”) is pleased to announce the results of an updated Mineral Resource Estimate (“MRE”) for the northern part of its Banio Potash Project in Gabon. The MRE has an Effective Date of Nov. 11, 2025 and was completed by ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH (“ERCOSPLAN”), one of the oldest and best-known potash specialist consulting companies in the world with significant experience in the West African Potash Basin.

Table 1 Measured, Indicated and Inferred Mineral Resources, Banio Potash Project

2025 MRE
CLASSIFICATION 		TONNAGE (MT) KCL (%) MRE INCREASE (%)
FROM 2024*
MEASURED 648.19 15.72 —
INDICATED 1804.54 15.57 ~ 175%
M+I 2,452.73 15.61 ~ 275%
INFERRED 3,559.49 15.61 ~ 210%
*see MLP Press Release dated Jan.16,2024

Farhad Abasov, Millennial’s Chair, commented, “Millennial Potash is delighted to report that its updated Mineral Resource Estimates (MRE) for the northern part of its Banio Potash Project has exceeded all our expectations marking a major milestone in our development. Last year we had no Measured Resource, whereas now we have 648M tonnes of maiden Measured Resource. The total Measured and Indicated Resource increased by 275% while the Inferred Resource went up by 210%. The increase in resources since our maiden resource in 2024 has been massive with Carnallitite Measured + Indicated resources of 2.42B tonnes at 15.5-% KCl and additional Inferred Carnallitite resources of 3.6B tonnes also grading 15.4% KCl.

This vast increase in the resources calculated may also allow us to consider substantially expanding any planned production scale in the future. The newly calculated resources underscore the project’s immense potential, as it covers only about 5% of the entire project area. The presence of sylvinite seams constitute a higher-grade resource that adds further promise to the Project.

It is important to note that the resources cover only a fraction of the northern part of the entire Project area and based on historical drill results and seismic work we believe the Project deposit continues both to the south and to the north. With significant thicknesses of potash mineralization encountered in all drillholes to date, locally in excess of 100m, we see support for our interpretation that these potash seams have thickness, grade and continuity making them potentially highly suitable to solution mining.

Moving forward this MRE is expected to provide a solid base for a Feasibility Study (“FS”) which is being supported by the U.S. International Development Finance Corp. (“DFC”) by a non-dilutive USD $3M in funding. The FS will investigate various possible production scenarios via solution mining.”

The MRE includes Measured Carnallitite Mineral Resources of approximately 648 million tonnes grading 15.7% KCl, Indicated Carnallitite Mineral Resources of approximately 1.769 billion tonnes grading 15.4% KCl, Indicated Sylvinite Mineral Resources of 35 million tonnes grading 24.3% KCl, Inferred Carnallitite Mineral Resources of 3.463 billion tonnes grading 15.4% KCl, and Inferred Sylvinite Mineral Resources of 96.2 million tonnes grading 24.2% KCl (see Tables 1,3,4,5). The MRE includes analytical results from the 2024 MRE for holes BA-002 and BA-003, plus 2025 drilling results from the extension of BA-001 (BA-001-EXT), and new hole BA-004. (see MLP Press releases dated Sept. 16, 2025 and Oct. 14, 2025).

The 2025 MRE values equate to approximately 102 million tonnes of contained KCl in the Measured category, about 281 million tonnes of contained KCl in the Indicated category and approximately 555 million tonnes of contained KCl in the Inferred category (see Tables 3, 4 and 5) In addition, compared to 2024 MRE, MLP has added a large maiden Measured Mineral Resource of 648 million tonnes at 15.7% KCl (see MLP Press release dated Jan. 16, 2024).

The Banio Potash Project is located at the north end of the West-African Evaporite Basin. This is a well-established potash basin. The Mineral Resource Estimate for MLP’s Banio Potash Project is comprised of Measured, Indicated and Inferred resources based on the definition of potash-bearing seams or beds in numerous sedimentary evaporite cycles or stages that were identified from drill core collected from potash specific exploration drillholes. The Mineral Resources are comprised of carnallitite and sylvinite resources as detailed in Tables 3, 4 and 5.

Geological Model

The geological model of Banio Potash mineralization identifies 7 potash-bearing Evaporite Cycles (CII to CVIII) with up to 20 seams of carnallitite and 3 seams of sylvinite in individual Cycles. For the potash seams to be considered as potentially suitable for solution mining, which is deemed to be the optimal mining method to sustain a low-cost economic operation at Banio, they must meet certain thickness and grade criteria. In order to be considered as potentially mineable via solution mining the following cut-off parameters were applied to on the carnallitite and sylvinite seams:

  • Carnallitite: seam thickness has to be > 2.5 m when single, and > 1.25 m when other seams are present within 5 m vertical distance, and Carnallite content > 47 % (~ 12.5% KCl).
  • Sylvinite: seam thickness has to be > 2 m and the Sylvite content > 16 %. Combined Sylvite/Carnallite seams (e.g., Cycle VIII seam 4 in Ba-003, Cycle VII seam 14 in Ba-002) have been considered as separate seams.

The seams which meet these criteria are outlined in Table 2 below.

The flat-lying nature of the West African Evaporite Basin, confirmed in the project area by results from extensive seismic studies coupled with drillhole geological information, allows for extrapolation of the various cycles and seams over significant distances. The evaporite basin geology outlined in the stratigraphic columns in Figure 1 confirms continuity of potash seams over approximately 8,000m of strike length based on drill holes BA-001, BA-002, BA-003, and BA-004

Resource Estimate

In calculating the mineral resource tonnages, the following procedures were completed (Mineral Resources are given as in-situ mineralization):

  • Around each drill hole, a Radius of Influence (ROI) was defined and by intersection of these ROIs, polygons around drill holes where constructed.
  • Each polygon was clipped by the coast of Banio Lagoon and restricted to only onshore areas within the Mayumba Permit. The volume for each potash seam was calculated by multiplying the clipped polygon area with the thickness of the potash seam.
  • The carnallitite tonnage was calculated by multiplying the volume assigned to each seam with a carnallitite tonnage factor (density). The density for each seam was determined individually from the relative abundance of the salt minerals in the carnallitite seam and varies from between 1.77 g/cm³ for high grade carnallitite and 1.80 g/cm³ for low grade carnallitite seams. For Sylvinite seams, a sylvinite tonnage factor was similarly determined. Based on Sylvite grade, density varied between 2.07 g/cm³ and 2.13 g/cm³.
  • The KCl grade of each seam was calculated from a weighted average grade of drillholes sample results collected from the individual seams.

The MRE classifies the carnallitite mineralization as Measured, Indicated and Inferred Mineral Resources, and the and sylvinite mineralization as Indicated and Inferred, as defined by NI 43-101. This reflects the level of confidence in the extent and grade of both the carnallitite and sylvinite bodies.

The criteria used in the MRE to define the extension of mineralization from each drillhole for the Measured, Indicated and Inferred carnallitite resources is as follows:

  • Measured Mineral Resources occur within a radius of 700m of a drill hole, as long as the seismic survey results show no significant change in thickness of the overall salt section. The ROI for Indicated Mineral Resources is not extended beyond the position of faults interpreted from the seismic survey sections.
  • Indicated Mineral Resources occur within a radius of 1,400m of a drill hole, minus the Measured Resources as long as the seismic survey results show no significant change.

Table 2 Composite carnallitite and sylvinite seam data from drillholes utilized in the MRE.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4674/274691_66dc182ab4e6286e_002full.jpg

ND no data, as the cycle has not been preserved in this drill hole (BA-001 Cycle VIII) or has not been drilled Cycle II to Cycle IV in Ba-003

LT/LG thickness or grade do just not meet the criteria
X = mineralization may be present, but thickness and grade far off from meeting criteria
Sg = slightly different grouping of seams between drill holes
Blank-empty in Cycle VI and Cycle VII due to seams being either Ct or Sy in different drill holes


Fig. 1 Correlation of potash cycles displaying good continuity from BA-002, BA-003, BA-001 and BA-004 drillholes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4674/274691_66dc182ab4e6286e_003full.jpg

  • in thickness of the overall salt section. The ROI for Indicated Mineral Resources is not extended beyond the position of faults interpreted from the seismic survey sections.
  • Inferred Mineral Resources occur within a radius of 2,800m of a drillhole, minus the Measured and Indicated resources within this area. Considering that for Inferred Mineral Resources the continuity of grade and thickness only have to be implied, the ROI for this category is predicted to extend into the fault bounded downthrown block that has been interpreted from the seismic sections.

Similarly, the MRE utilizes the following criteria to estimate the extension of the Indicated and Inferred sylvinite resources from a drillhole:

  • Measured Mineral Resources for sylvinite have not been assigned due to the uncertainly in the extent of the sylvinite deposition as it is primarily a secondary form of mineralization and structurally controlled.
  • Indicated Mineral Resources occur within a radius of 500m of a drill hole, as long as the seismic survey results show no significant change in thickness of the overall salt section.
  • Inferred Mineral Resources occur within a radius of 1,000m of a drill hole, minus the Indicated resources within this area.

Since the extent of the Sylvite mineralization is secondary and mainly structurally controlled, the ROIs for the sylvinite mineralization are not extended beyond faults interpreted from the seismic survey sections.

The ROI distribution for carnallitite seams in Cycles VI to VII showing the Indicated resource ROI clipped at interpreted faults and the Inferred ROI extending beyond these same faults is shown in Figure 2.

Cycles VI and VII in BA-001 display anomalous thickness which may be a local feature related to proximity to a NE-SW trending fault and localized folding. ERCOSPLAN has interpreted the substantial thicknesses of Cycles VI and VII to be local features and in order to be conservative in the resource estimate, have calculated True Thicknesses for all the seams in these two cycles through structural analysis and comparisons to adjacent, unaffected drillhole stratigraphy. Minor uncertainty remains regarding the exact position of this fault and consequently a 200 m wide barrier with no Mineral Resources is defined along the interpreted fault. Uncertainty around additional faults interpreted from the seismic sections are accommodated by a non-resource zone 100m wide associated with each potential fault.

The resulting Measured, Indicated and Inferred mineral resources for the Banio Project are presented in Tables 3, 4 and 5. The robust carnallitite Measured Mineral Resource Estimate of 648M tonnes grading 15.7% KCl, and carnallitite Indicated Mineral Resource Estimate of 1.77 billion tonnes grading 15.4% KCl provide a solid base for continuing exploration and development at the project and for the initiation of a Feasibility Study. The FS the Company plans to complete will focus only on the North Target although significant potential for potash mineralization is interpreted from downhole geophysical studies completed in several oil and gas wells at the South Target of the permit area.


Figure 2 Measured, Indicated and Inferred ROI Polygons for Carnallitite Seams in Cycles VI to VII with interpreted faults zones

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4674/274691_66dc182ab4e6286e_004full.jpg

In addition to carnallitite resources, the sylvinite mineralization, with Indicated Mineral Resources of approximately 35.2M tonnes grading 24.3% KCl and Inferred Mineral Resources of approximately 96.2M tonnes at 24.3% KCl, represent attractive exploration targets with higher grades that may enhance the overall grade of the project.

Table 3: Measured Mineral Resources*

DRILLHOLE AREA (km2) THICKNESS
(m) 		MINERALOGY TONNAGE (MT) GRADE % KCl TONNAGE (MT KCl)
BA-001 1.26 16.32 Carnallitite 37.00 15.41 5.70
BA-002 1.37 72.83 Carnallitite 179.77 15.33 27.55
BA-003 1.53 70.14 Carnallitite 191.85 16.06 30.82
BA-004 1.54 86.82 Carnallitite 239.56 15.79 37.82
MEASURED TOTAL Carnallitite 648.19 15.72 101.89

Table 4: Indicated Mineral Resources*

DRILLHOLE AREA (km2) THICKNESS
(m) 		MINERALOGY TONNAGE (MT) GRADE % KCl TONNAGE (MT KCl)
BA-001 3.95 68.41 Carnallitite 487.27 14.44 70.37
BA-002 0.79 4.8 Sylvinite 7.99 24.91 1.99
BA-002 2.57 72.83 Carnallitite 336.54 15.36 51.69
BA-003 0.79 7.46 Sylvinite 12.47 19.45 2.43
BA-003 2.85 70.14 Carnallitite 358.39 16.06 57.55
BA-004 0.79 9.03 Sylvinite 14.69 28.00 4.11
BA-004 3.77 87.89 Carnallitite 587.18. 15.79 92.70
INDICATED TOTAL Carnallitite 1,769.39 15.39 272.31
Sylvinite 35.15 24.26 8.53
TOTAL INDICATED CT+SYL 1,804.54 15.56 280.84
MEASURED + INDICATED Carnallitite 2,417.58 15.48 374.20
Sylvinite 35.15 24.26 8.53
TOTAL M + I CT+SYL 2,452.73 15.61 382.73

Table 5: Inferred Mineral Resources*

DRILLHOLE AREA (km2) THICKNESS (m) MINERALOGY TONNAGE (MT) GRADE % KCl TONNAGE (MT KCl)
BA-001 8.10 68.41 Carnallitite 998.17 14.56 145.32
BA-002 1.56 4.80 Sylvinite 15.88 24.91 3.96
BA-002 5.15 72.83 Carnallitite 673.89 15.43 103.96
BA-003 2.36 7.46 Sylvinite 37.41 19.45 7.28
BA-003 2.62 70.14 Carnallitite 329.81 16.04 52.90
BA-004 4.52 4.58 Sylvinite 42.86 28.00 12.00
BA-004 9.38 87.89 Carnallitite 1,461.47 15.74 230.03
INFERRED TOTAL Carnallitite 3,463.34 15.37 532.20
Sylvinite 96.15 24.16 23.23
TOTAL INFERRED 3,559.49 15.61 555.43

*Cautionary Notes:

  1. MT=Million Tonnes, tonnage is for in-situ resource with no discount for recovery as mining and processing methods are to be finalized. Potash deposits have been mined by underground, open pit and solution mining methods.
  2. The numbers for tonnage, average KCl per cent are rounded figures
  3. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimates of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
  4. The quantity and grade of reported Inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred resources as an Indicated or Measured mineral resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.
  5. Densities used in resource calculations are 2.07-2.13 g/cm3 for Sylvinite and 1.77-1.80 g/cm3 for Carnallitite

The Company is required to file an NI 43-101 compliant technical report on SEDAR within 45 days of the initial disclosure of the MRE made herein.

The information in this news release has been reviewed and approved by Sebastiaan van der Klauw, EurGeol, of ERCOSPLAN and Peter J. MacLean, Ph.D., P. Geo, Director of the Company, and both are Qualified Persons as that term is defined in National Instrument 43-101.

To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 662-8184 or email at info@millennialpotash.com.

Keep up-to-date on Millennial Potash developments and join our online communities on: Twitter, Facebook, LinkedIn, Instagram and YouTube.

MILLENNIAL POTASH CORP.

“Farhad Abasov”
Chair of the Board of Directors

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This document may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan” or “planned”, “forecast”, “intend”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental (including land or water use), local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Gabon or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or CFA or other currencies, fluctuations in the market for potash or potash related products, changes in exploration costs and government royalties, export policies or taxes in Gabon or any other jurisdiction and other factors or information. The Company’s current plans, expectations and intentions with respect to development of its business and of the Banio Potash Project may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions on its ability to secure further financing or funding of the Banio Potash Project. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

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

Lens Technology: Securing AI Edge Hardware Leadership Through Three Core Strengths and a Three-Year Roadmap

By
Advertorial Desk
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HONG KONG, Nov. 17, 2025 /PRNewswire/ — At the GF Securities 2025 Global Investment Forum and Closed-Door Exchange for Select Listed Companies, Lens Technology (6613.HK) Chairman Zhou Qunfei articulated the company’s strategic vision for AI edge hardware. She underscored that success in this arena hinges on seamlessly integrating technological innovation with manufacturing excellence. Backed by three unique competitive strengths, Lens Technology is positioned to claim industry leadership.

1. R&D Excellence: End-to-End Innovation and Technology Transfer

Innovation is the cornerstone of Lens Technology. Since its IPO, the company has committed more than RMB 20 billion to R&D, including RMB 2.44 billion in the first nine months of 2025—an R&D intensity sustained above 4%. Rather than isolated advances, Lens pursues integrated breakthroughs across materials, processes, and equipment.

Its portfolio extends from consumer-electronics staples—UTG glass, 3D glass, liquid metal, and titanium alloy machining—to AI-enabling components such as light-guide lenses, functional modules, robot joints, dexterous hands, and glass hard-disk substrates.

A key differentiator is the rapid cross-domain application of proven technologies. Smartphone glass-processing expertise has been adapted for automotive panels; refined imprinting and etching techniques have boosted light-guide lens yield and throughput; and collaboration with a tier-one HDD maker has yielded glass substrates poised to displace aluminum, opening new revenue streams.

2. Manufacturing Mastery: Vertical Integration and Agile Delivery

To satisfy AI hardware’s demands for scale and precision, Lens pioneered a “single-piece flow” glass line that condenses over 200 steps into fewer than 50, enabling flexible, end-to-end production with superior efficiency and quality.

The company controls every link—from raw materials, molds, and tooling to automation equipment—and delivers everything from components and modules to full ODM assemblies. This vertically integrated model ensures cost discipline and responsiveness. When a flagship client faced AI-glasses shortages, Lens designed molds, built lines, and reached volume production within weeks.

3. Ecosystem Partnership: From Vendor to Strategic Co-Creator

Lens has evolved into a front-end R&D collaborator, embedding its engineers with client hardware teams from concept through commercialization. This leverages Lens’s strengths in design, lean operations, and supply-chain orchestration.

Commercial wins include mass production of the Zhiyuan Lingxi robot and Alipay terminals. In embodied intelligence, Lens supplies leading North American and Chinese robotics players with joint modules and dexterous hands. In 2025, it anticipates shipping 3,000 humanoid robots and over 10,000 quadruped units, placing its assembly capacity in the global top tier and establishing Lens as a pivotal platform for intelligent hardware.

Three-Year Strategic Roadmap: Global Leadership by 2027

Zhou Qunfei unveiled a focused three-year plan anchored in intensified R&D and three priority domains:

  • Consumer Electronics & AI Glasses Strengthen leadership in precision structures and modules; broaden brittle-material, sapphire, and ceramic capabilities. Within two years, become the primary supplier for premier clients’ AI glasses across components, modules, and assembly. By 2027, rank among the world’s top assemblers and dominate light-guide technology.
  • Automotive Electronics Perfect panoramic-display and smart-interaction integration; accelerate communication and domain-controller modules. By 2026, supply ultra-thin laminated glass at million-unit annual scale to major global OEMs. By 2027, expand share in interactive automotive systems.
  • Robotics Lightweight humanoid-joint modules; develop full-stack capabilities from software adaptation to final assembly. By 2026, multiply core-component and assembly volumes. By 2027, lead worldwide shipments of humanoid and quadruped robots.

Zhou Qunfei concluded that Lens Technology is determined to become a global leader in AI edge hardware manufacturing. By fusing technological depth, manufacturing rigor, and collaborative ecosystems, the company will transform edge intelligence from cloud abstraction into tangible reality.

Compiled from Chairman Zhou Qunfei’s address at the GF Securities 2025 Global Investment Forum.

United States Hosts 1.2 Million International Students at Colleges and Universities, Totaling 6% of U.S. Higher Education

By
Advertorial Desk
-

WASHINGTON, Nov. 17, 2025 /PRNewswire/ — Today, the Open Doors® 2025 Report on International Educational Exchange, the leading annual benchmark for international educational exchange in the United States, announces that U.S. colleges and universities hosted 1.2 million (1,177,766) international students in the 2024/2025 academic year, a 5% overall increase from the previous year.

International students accounted for 6% of the total U.S. higher education population. International students contributed nearly $55 billion to the U.S. economy in 2024, according to the U.S. Department of Commerce, and supported more than 355,000 jobs across the United States, according to NAFSA. The United States remains the top destination for international students globally.

“International students come to the United States to advance their education and contribute to U.S. colleges and communities,” said Jason Czyz, Institute of International Education (IIE) President and CEO. “This data highlights the impact international students have in driving innovation, advancing scholarship, and strengthening cross-cultural understanding.”

International student numbers vary by academic level

The number of graduate students (488,481) pursuing master’s or doctorate degrees decreased by 3%, following three years of growth. The number of undergraduate students grew by 4% to 357,231, marking the first significant increase at that academic level since the COVID-19 pandemic. The number of international students on Optional Practical Training (OPT) reached 294,253 students, an increase of 21% from the prior year. More than half (57%) of international students across academic levels pursued STEM fields of study.

The total number of new international students – those enrolling at a U.S. college or university for the first time in fall 2024 – decreased by 7% (277,118). This varied by academic level – the number of new undergraduates grew by 5%, while the number of new graduate students fell by 15%.

India remains the top-sending country of international students

There were 363,019 international students from India in the U.S. in 2024/2025, reflecting a 10% increase from the prior year. China followed with 265,919 students, a 4% decline. Twelve of the top 25 countries sending international students reached their largest totals to date: Bangladesh, Canada, Colombia, Ghana, India, Italy, Nepal, Nigeria, Pakistan, Peru, Spain, and Vietnam.

Most international students studied at public institutions, with the largest growth at community colleges

International students studied in all 50 states. Among the 45 states that saw increases in their international student totals, the largest growth was reported in Texas (+8%, +7,497 students), Illinois (+7%, +4,336 students), and Missouri (+11%, +3,694 students). Most international students (59%) attended public institutions, while community colleges experienced the fastest rate of growth (+8%) among institutions.

U.S. students studying abroad rises, with top destinations in Europe and Asia

The Open Doors Report showed that in the 2023/24 academic year, 298,180 U.S. students studied abroad for academic credit, an increase of 6% from the prior year. Italy, Spain, the United Kingdom, and France remained the leading host destinations, with nearly half (45%) of all students studying in these top four destinations. Japan became the 5th-largest destination for the first time, with a robust 16% growth in 2023/24. Seven destinations in the top 25 reached all-time study abroad highs as of 2023/24: Denmark, Greece, Italy, Japan, Portugal, South Korea, and Spain.

“The Open Doors report provides a comprehensive picture of the destinations where U.S. students study abroad,” said Dr. Mirka Martel, IIE Head of Research, Evaluation & Learning. “For U.S. students, studying abroad is an integral part of the higher education experience that prepares them to thrive in a global economy.”

Fall 2025 Snapshot on International Student Enrollment
Over 825 U.S. higher education institutions participated in the Fall 2025 Snapshot, providing an initial look into international student numbers as of the 2025/26 academic year. These institutions report a 1% decline in international student totals in fall 2025. Undergraduate enrollments are up by 2 percent, while graduate enrollments have decreased by 12 percent. OPT continued to increase by 14 percent. New enrollments, international students studying at their U.S. college or university for the first time in fall 2025, decreased by 17%. Many institutions are continuing to focus on international student recruitment, citing the value of international students’ perspectives on campus (81%) and their financial contributions (60%). 

About Open Doors
Open Doors is the most comprehensive information resource on international students and scholars in the United States and on U.S. students studying abroad for academic credit. The Open Doors project is sponsored by the U.S. Department of State with funding provided by the U.S. Government and supported in its implementation by the Institute of International Education. For more data, infographics, and resources, visit opendoorsdata.org.

JinkoSolar Schedules 2025 Annual General Meeting to be Held on December 29, 2025

By
Advertorial Desk
-

SHANGRAO, China, Nov. 17, 2025 /PRNewswire/ — JinkoSolar Holding Co., Ltd. (the “Company,” or “JinkoSolar”) (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that it will hold its 2025 annual general meeting on Monday, December 29, 2025 at 10:00 a.m. (Beijing time) at 10F, No.1, Lane 1466, Shenchang Road, Minhang District, Shanghai, China, for the following purposes:

  • To re-elect Mr. Haiyun Cao as a director of the Company;
  • To re-elect Mr. Wing Keong Siew as an independent director of the Company;
  • To ratify the appointment of PricewaterhouseCoopers Zhong Tian LLP as auditors of the Company for the fiscal year of 2025;
  • To authorize the directors of the Company to determine the remuneration of the Company’s auditors;
  • To authorize each of the directors of the Company to take any and all action that might be necessary to effect the foregoing resolutions as such director, in his or her absolute discretion, thinks fit;
  • To receive and consider the audited financial statements and the report of the auditors for the year ended December 31, 2024, and the report of the board of directors; and
  • To act upon such other matters as may properly come before our annual general meeting or any adjournment or postponement thereof.

Only shareholders of record at the close of business on November 28, 2025 (New York time) are entitled to receive notice of and to vote at the Company’s annual general meeting or any adjournment or postponement thereof.

The notice of the Company’s annual general meeting and the Company’s 2024 Annual Report, containing the complete audited financial statements and the report of auditors for the year ended December 31, 2024, together with the report of the board of directors, are available on the Investor Relations Section of the Company’s website at www.jinkosolar.com.

The Company will provide to all shareholders, upon request, a hard copy of the Company’s 2024 Annual Report and the report of the board of directors free of charge.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, Greece and other countries and regions.

JinkoSolar had over 10 productions facilities globally, over 20 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, and other countries, and a global sales network with sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of September 30, 2025.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and the Company’s operations and business outlook, contain forward-looking statements. Such statements involve certain 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 is included in JinkoSolar’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:
Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: ir@jinkosolar.com

Mr. Rene Vanguestaine
Christensen
Tel: +86 178 1749 0483
Email: rene.vanguestaine@christensencomms.com 

In the U.S.:
Ms. Linda Bergkamp
Christensen
Tel: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com 

SOHU.COM REPORTS THIRD QUARTER 2025 UNAUDITED FINANCIAL RESULTS

By
Advertorial Desk
-

BEIJING, Nov. 17, 2025 /PRNewswire/ — Sohu.com Limited (NASDAQ: SOHU) (“Sohu” or the “Company”), a leading Chinese online media platform and game business group, today reported unaudited financial results for the third quarter ended September 30, 2025.

Third Quarter Highlights

  • Total revenues were US$180 million, up 19% year-over-year and 43% quarter-over-quarter.
  • Marketing services revenues were US$14 million, down 27% year-over-year and 13% quarter-over-quarter.
  • Online game revenues were US$162 million, up 27% year-over-year and 53% quarter-over-quarter.
  • GAAP net income attributable to Sohu.com Limited was US$9 million, compared with a net loss of US$16 million in the third quarter of 2024 and a net loss of US$20 million in the second quarter of 2025.
  • Non-GAAP[1] net income attributable to Sohu.com Limited was US$9 million, compared with a net loss of US$12 million in the third quarter of 2024 and a net loss of US$20 million in the second quarter of 2025.

Dr. Charles Zhang, Chairman and CEO of Sohu.com Limited, commented, “In the third quarter of 2025, our marketing services revenues were in line with our guidance, while both our online game revenues and our bottom-line performance, benefiting from our continuous efforts in the gaming business, were well above our prior expectations. We recorded positive net income this quarter. For the Sohu media platform, we continued to refine our products and integrate resources to better meet users’ needs and enhance their experiences. Meanwhile, leveraging our product matrix and distinctive events, we remained committed to generating and distributing diversified premium content, and continuously energizing our platform. Our differentiated advantages and unique IP enabled us to further unlock monetization potential. For our online games, both new and established titles delivered outstanding performance, driven by our deep understanding of user needs and proven operational expertise.”

[1] Non-GAAP results exclude share-based compensation expense; and interest expense recognized in connection with the one-time transition tax (the “Toll Charge”) imposed by the U.S. Tax Cuts and Jobs Act signed into law on December 22, 2017 (the “U.S. TCJA”). Explanation of the Company’s non-GAAP financial measures and related reconciliations to GAAP financial measures are included in the accompanying “Non-GAAP Disclosure” and “Reconciliations of Non-GAAP Results of Operation Measures to the Nearest Comparable GAAP Measures.”

Third Quarter Financial Results

Revenues

Total revenues were US$180 million, up 19% year-over-year and 43% quarter-over-quarter.

Marketing services revenues were US$14 million, down 27% year-over-year and 13% quarter-over-quarter.

Online game revenues were US$162 million, up 27% year-over-year and 53% quarter-over-quarter. The increases were mainly due to the revenue contribution of our new PC game Tian Long Ba Bu (“TLBB”): Return, which was launched in July 2025, as well as increased revenue from TLBB PC that resulted from content updates and in-game promotional activities launched during the quarter.

Gross Margin

Both GAAP and non-GAAP gross margin were 81%, compared with 74% in the third quarter of 2024 and 78% in the second quarter of 2025.

Both GAAP and non-GAAP gross margin for the marketing services business were 10%, compared with 9% in the third quarter of 2024 and 17% in the second quarter of 2025.

Both GAAP and non-GAAP gross margin for online games were 87%, compared with 84% in the third quarter of 2024 and 86% in the second quarter of 2025.

Operating Expenses

GAAP operating expenses were US$132 million, up 5% year-over-year and 9% quarter-over-quarter. Non-GAAP operating expenses were US$131 million, up 5% year-over-year and 9% quarter-over-quarter.

Operating Profit/(Loss)

Both GAAP and non-GAAP operating profit were US$14 million, compared with an operating loss of US$13 million in the third quarter of 2024 and an operating loss of US$22 million in the second quarter of 2025.

Income Tax Expense

GAAP income tax expense was US$17 million, compared with income tax expense of US$15 million in the third quarter of 2024 and income tax expense of US$9 million in the second quarter of 2025.

Non-GAAP income tax expense was US$17 million, compared with income tax expense of US$11 million in the third quarter of 2024 and income tax expense of US$9 million in the second quarter of 2025.

Net Income/(Loss)

GAAP net income attributable to Sohu.com Limited was US$9 million, or net income of US$0.32 per fully-diluted American depositary share (“ADS,” each ADS representing one Sohu ordinary share), compared with a net loss of US$16 million in the third quarter of 2024 and a net loss of US$20 million in the second quarter of 2025.

Non-GAAP net income attributable to Sohu.com Limited was US$9 million, or net income of US$0.33 per fully-diluted ADS, compared with a net loss of US$12 million in the third quarter of 2024 and a net loss of US$20 million in the second quarter of 2025.

Liquidity and Capital Resources

As of September 30, 2025, cash and cash equivalents, short-term investments and long-term time deposits totaled approximately US$1.2 billion.

Supplementary Information for Changyou Results[2]

Third Quarter 2025 Operating Results

  • For PC games, total average monthly active user accounts[3] (MAU) were 2.7 million, an increase of 24% year-over-year and 15% quarter-over-quarter. Total quarterly aggregate active paying accounts[4] (APA) were 1.1 million, an increase of 27% year-over-year and 19% quarter-over-quarter. The year-over-year increases in MAU and APA were mainly from TLBB: Return, which was launched in July 2025, as well as the improved performance of TLBB PC, resulting from content updates and optimization launched during recent quarters. The quarter-over-quarter increases in MAU and APA were mainly from TLBB: Return.
  • For mobile games, total average MAU were 1.9 million, a decrease of 42% year-over-year and 4% quarter-over-quarter. Total quarterly APA were 0.3 million, a decrease of 72% year-over-year and 3% quarter-over-quarter. The year-over-year decreases in MAU and APA were mainly due to the natural decline of New Westward Journey, which was launched during the second quarter of 2024.

[2] “Changyou Results” consist of the results of Changyou’s online games business and its 17173.com Website.

[3] Monthly active user accounts refers to the number of registered accounts that are logged in to these games at least once during the month.

[4] Quarterly aggregate active paying accounts refers to the number of accounts from which game points are utilized at least once during the quarter.

Third Quarter 2025 Unaudited Financial Results

Total revenues were US$163 million, an increase of 27% year-over-year and 53% quarter-over-quarter. Online game revenues were US$162 million, an increase of 27% year-over-year and 53% quarter-over-quarter.

Both GAAP and non-GAAP gross profit were US$141 million, compared with US$108 million for the third quarter of 2024 and US$92 million for the second quarter of 2025.

Both GAAP and non-GAAP operating expenses were US$54 million, an increase of 19% year-over-year and 31% quarter-over-quarter. The year-over-year and quarter-over-quarter increases were mainly due to an increase in marketing and promotional spending for our online games, as well as an increase in salary and benefits expenses.

GAAP operating profit was US$87 million, compared with US$62 million for the third quarter of 2024 and US$50 million for the second quarter of 2025.

Non-GAAP operating profit was US$88 million, compared with US$62 million for the third quarter of 2024 and US$51 million for the second quarter of 2025.

Recent Development

Under the previously-announced share repurchase program of up to US$150 million of the outstanding ADSs, Sohu had repurchased 7.6 million ADSs for an aggregate cost of approximately US$97 million as of November 13, 2025.

Business Outlook

For the fourth quarter of 2025, Sohu estimates:

  • Marketing services revenues to be between US$15 million and US$16 million; this implies an annual decrease of 15% to 20%, and a sequential increase of 10% to 18%.
  • Online game revenues to be between US$113 million and US$123 million; this implies an annual increase of 3% to 12%, and a sequential decrease of 24% to 30%. 
  • Both non-GAAP and GAAP net loss attributable to Sohu.com Limited to be between US$25 million and US$35 million.

For the fourth quarter 2025 guidance, the Company has adopted a presumed exchange rate of RMB7.10=US$1.00, as compared with the actual exchange rate of approximately RMB7.15=US$1.00 for the fourth quarter of 2024, and RMB7.13=US$1.00 for the third quarter of 2025.

This forecast reflects Sohu’s management’s current and preliminary view, which is subject to substantial uncertainty.

Non-GAAP Disclosure

To supplement the unaudited consolidated financial statements presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”), Sohu’s management uses non-GAAP measures of gross profit, operating profit/(loss), net income/(loss), net income/(loss) attributable to Sohu.com Limited and diluted net income/(loss) attributable to Sohu.com Limited per ADS, which are adjusted from results based on GAAP to exclude the impact of share-based compensation expense and interest expense recognized in connection with the Toll Charge imposed by the U.S. TCJA. These measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results.

Sohu’s management believes excluding share-based compensation expense and interest expense recognized in connection with the Toll Charge from the Company’s non-GAAP financial measures is useful for itself and investors. Further, the impact of share-based compensation expense and interest expense recognized in connection with the Toll Charge could not be anticipated by management and business line leaders, and these expenses were not built into the annual budgets and quarterly forecasts that have been the basis for information Sohu provides to analysts and investors as guidance for future operating performance. As share-based compensation expense does not involve subsequent cash outflow and is not reflected in the cash flows at the equity transaction level, Sohu does not factor in its impact when evaluating and approving expenditures or when determining the allocation of its resources to its business segments. As a result, in general, the monthly financial results for internal reporting and any performance measures for commissions and bonuses are based on non-GAAP financial measures that exclude share-based compensation expense and interest expense recognized in connection with the Toll Charge.

The non-GAAP financial measures are provided to enhance investors’ overall understanding of Sohu’s current financial performance and prospects for the future. A limitation of using non-GAAP gross profit, operating profit/(loss), net income/(loss), net income/(loss) attributable to Sohu.com Limited, and diluted net income/(loss) attributable to Sohu.com Limited per ADS excluding share-based compensation expense is that this expense has been and can be expected to continue to recur in Sohu’s business. In order to mitigate these limitations Sohu has provided specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables include details on the reconciliation between the GAAP financial measures that are most directly comparable to the non-GAAP financial measures that have been presented.

Notes to Financial Information

Financial information in this press release other than the information indicated as being non-GAAP is derived from Sohu’s unaudited financial statements prepared in accordance with GAAP.

Safe Harbor Statement

This announcement contains forward-looking statements. It is currently expected that the Business Outlook will not be updated until release of Sohu’s next quarterly earnings announcement; however, Sohu reserves right to update its Business Outlook at any time for any reason. Statements that are not historical facts, including statements about Sohu’s beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that 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, instability in global financial and credit markets and its potential impact on the Chinese economy; exchange rate fluctuations, including their potential impact on the Chinese economy and on Sohu’s reported U.S. dollar results; fluctuations in Sohu’s quarterly operating results; the possibilities that Sohu will be unable to recoup its investment in content and will be unable to develop a series of successful games for mobile platforms or successfully monetize mobile games it develops or acquires; and Sohu’s reliance on marketing services and online games for its revenues. Further information regarding these and other risks is included in Sohu’s annual report on Form 20-F for the year ended December 31, 2024, and other filings with and information furnished to the SEC.

Conference Call and Webcast 

Sohu’s management team will host a conference call at 7:30 a.m. U.S. Eastern Time, November 17, 2025 (8:30 p.m. Beijing/Hong Kong time, November 17, 2025) following the quarterly results announcement. Participants can register for the conference call by clicking here, which will lead them to the conference registration website. Upon registration, participants will receive details for the conference call, including the dial-in numbers and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin.

The live Webcast and archive of the conference call will be available on the Investor Relations section of Sohu’s website at https://investors.sohu.com/.

About Sohu

Sohu.com Limited (NASDAQ: SOHU) was established by Dr. Charles Zhang, one of China’s internet pioneers, in the 1990s. Sohu operates one of the leading Chinese online media platforms and also engages in the online games business in the Chinese mainland. Sohu has built one of the most comprehensive matrices of Chinese language web properties, consisting of Sohu News App, Sohu Video App, the mobile portal m.sohu.com, the PC portal www.sohu.com, and the online games platform www.changyou.com/en/.

As a mainstream media platform with social features, Sohu is indispensable to the daily life of millions of Chinese, providing to a vast number of users a network of web properties and community based products, which offer a broad array of content such as news, information, text, picture, video, and live broadcasting. Sohu also attracts users to be highly engaged in content generation and distribution, and actively interact with each other on the platform. Sohu’s online games business is conducted by its subsidiary Changyou which develops and operates a diverse portfolio of PC and mobile games, such as the well-known TLBB PC and Legacy TLBB Mobile.

For investor and media inquiries, please contact:

In China:

Ms. Pu Huang
Sohu.com Limited
Tel: +86 (10) 6272-6645
E-mail: ir@contact.sohu.com

In the United States:

Ms. Linda Bergkamp
Christensen
Tel: +1 (480) 614-3004
E-mail:  linda.bergkamp@christensencomms.com

 

SOHU.COM LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)

Three Months Ended

Sep. 30, 2025

Jun. 30, 2025

Sep. 30, 2024

Revenues:

    Marketing services

$

13,596

$

15,624

$

18,677

    Online games

162,036

105,994

127,721

    Others

4,529

4,649

5,594

Total revenues

180,161

126,267

151,992

Cost of revenues:

Marketing services

12,172

12,979

17,040

Online games

21,177

14,544

20,292

Others 

1,517

768

2,283

Total cost of revenues

34,866

28,291

39,615

Gross profit

145,295

97,976

112,377

Operating expenses:

Product development (includes share-based

compensation expense of nil, nil, and $6, respectively) 

61,820

58,824

62,231

Sales and marketing (includes share-based

compensation expense of $4, $1, and $9, respectively) 

49,699

48,545

48,494

General and administrative (includes share-based

compensation expense of $426, $352, and $29,

respectively)

20,196

12,922

14,692

Total operating expenses

131,715

120,291

125,417

Operating profit/(loss)

13,580

(22,315)

(13,040)

Other income, net

5,145

3,481

3,635

Interest income

7,140

7,570

9,074

Exchange difference

(563)

185

(988)

Income/(loss) before income tax expense

25,302

(11,079)

(1,319)

Income tax expense

16,636

8,937

15,028

Net income/(loss)

8,666

(20,016)

(16,347)

Net income/(loss) attributable to Sohu.com Limited

8,666

(20,016)

(16,347)

Basic net income/(loss) per share/ADS attributable to

Sohu.com Limited

$

0.32

$

(0.69)

$

(0.52)

Shares/ADSs used in computing basic net

income/(loss) per share/ADS attributable to Sohu.com

Limited[5]

27,491

28,826

31,729

Diluted net income/(loss) per share/ADS attributable

to Sohu.com Limited

$

0.32

$

(0.69)

$

(0.52)

Shares/ADSs used in computing diluted net

income/(loss) per share/ADS attributable to Sohu.com

Limited

27,491

28,826

31,729

[5] Each ADS represents one ordinary share.

 

SOHU.COM LIMITED

CONDENSED CONSOLIDATED BALANCE SHEETS 

(UNAUDITED, IN THOUSANDS)

As of Sep. 30, 2025

As of Dec. 31, 2024

ASSETS

Current assets:

           Cash and cash equivalents

$

133,961

$

159,927

           Short-term investments

740,605

744,498

           Accounts receivable, net

39,839

53,762

           Prepaid and other current assets 

85,568

83,575

Total current assets

999,973

1,041,762

Fixed assets, net

246,559

252,860

Goodwill 

47,115

46,944

Long-term investments, net

43,621

43,120

Intangible assets, net

5,686

7,695

Long-term time deposits

336,865

331,290

Other assets

10,776

10,995

Total assets

$

1,690,595

$

1,734,666

LIABILITIES 

Current liabilities:

           Accounts payable 

$

42,632

$

36,043

           Accrued liabilities

98,258

97,138

           Receipts in advance and deferred revenue

53,787

51,007

           Accrued salary and benefits

41,078

47,232

           Taxes payables

13,433

14,225

           Other short-term liabilities

76,436

76,322

Total current liabilities

$

325,624

$

321,967

Long-term other payables

3,270

2,807

Long-term tax liabilities

304,418

485,545

Other long-term liabilities

617

1,659

Total long-term liabilities

$

308,305

$

490,011

                         Total liabilities

$

633,929

$

811,978

SHAREHOLDERS’ EQUITY:

          Sohu.com Limited shareholders’ equity

1,056,322

922,335

          Noncontrolling interest

344

353

                     Total shareholders’ equity

$

1,056,666

$

922,688

Total liabilities and shareholders’ equity  

$

1,690,595

$

1,734,666

 

SOHU.COM LIMITED

RECONCILIATIONS OF NON-GAAP RESULTS OF OPERATIONS MEASURES TO THE NEAREST COMPARABLE GAAP MEASURES

(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)

Three Months Ended Sep. 30, 2025

Three Months Ended Jun. 30, 2025

Three Months Ended Sep. 30, 2024

GAAP

Non-GAAP 

Adjustment

Non-GAAP

GAAP

Non-GAAP 

Adjustment

Non-GAAP

GAAP

Non-GAAP

Adjustment

Non-GAAP

–

(a)

–

(a)

–

(a)

Marketing services gross profit

$

1,424

$

–

$

1,424

$

2,645

$

–

$

2,645

$

1,637

$

–

$

1,637

Marketing services gross margin

10 %

10 %

17 %

17 %

9 %

9 %

–

(a)

–

(a)

–

(a)

Online games gross profit 

$

140,859

$

–

$

140,859

$

91,450

$

–

$

91,450

$

107,429

$

–

$

107,429

Online games gross margin

87 %

87 %

86 %

86 %

84 %

84 %

–

(a)

–

(a)

–

(a)

Others gross profit 

$

3,012

$

–

$

3,012

$

3,881

$

–

$

3,881

$

3,311

$

–

$

3,311

Others gross margin

67 %

67 %

83 %

83 %

59 %

59 %

–

(a)

–

(a)

–

(a)

Gross profit

$

145,295

$

–

$

145,295

$

97,976

$

–

$

97,976

$

112,377

$

–

$

112,377

Gross margin

81 %

81 %

78 %

78 %

74 %

74 %

Operating expenses

$

131,715

$

(430)

(a) $

131,285

$

120,291

$

(353)

(a) $

119,938

$

125,417

$

(44)

(a) $

125,373

430

(a)

353

(a)

44

(a)

Operating profit/( loss)

$

13,580

$

430

$

14,010

$

(22,315)

$

353

$

(21,962)

$

(13,040)

$

44

$

(12,996)

Operating margin

8 %

8 %

-18 %

-17 %

-9 %

-9 %

Income tax expense

$

16,636

$

–

$

16,636

$

8,937

$

–

$

8,937

$

15,028

$

(3,883)

(b)$

11,145

430

(a)

353

(a)

44

(a)

–

–

3,883

(b)

Net income/(loss) before non-

controlling interest

$

8,666

$

430

$

9,096

$

(20,016)

$

353

$

(19,663)

$

(16,347)

$

3,927

$

(12,420)

430

(a)

353

(a)

44

(a)

–

–

3,883

(b)

Net income/( loss) attributable to

Sohu.com Limited for diluted

net loss per share/ADS

$

8,666

$

430

$

9,096

$

(20,016)

$

353

$

(19,663)

$

(16,347)

$

3,927

$

(12,420)

Diluted net income/( loss) per

share/ADS attributable to 

Sohu.com Limited

$

0.32

0.33

$

(0.69)

(0.68)

$

(0.52)

(0.39)

Shares/ADSs used in computing

diluted net income/( loss) per

share/ADS attributable to 

Sohu.com Limited

27,491

27,491

28,826

28,826

31,729

31,729

Note:

(a) Share-based compensation expense

(b) Accrued interest expense in connection with the Toll Charge

 

Ahn Hyo Seop’s wax figure arrives at Madame Tussauds Singapore

By
Advertorial Desk
-

SINGAPORE – Media OutReach Newswire – 17 November 2025 – Madame Tussauds Singapore is excited to announce the arrival of beloved actor Ahn Hyo Seop’s wax figure on Tuesday, 2 December 2025.

Ahn Hyo Seop with his wax figure at Madame Tussauds

Known for captivating audiences with his performances in popular dramas and movies like “Business Proposal”, “Omniscient Reader: The Prophet” and “A Time Called You,” Ahn Hyo Seop has established himself as a true heartthrob among fans. Most recently, he voiced Jinu, the leader of the fictional K-pop boy band Saja Boys, in the Netflix global animated film “KPop Demon Hunters,” which was released in June 2025.

“We’re beyond excited to welcome Ahn Hyo Seop to our K-Wave Zone, he’s the heartthrob that fans around the world have been swooning over.” said Steven Chung, General Manager of Madame Tussauds Singapore. “It’s time to grab your cameras and your fellow K-drama fans, because this is one proposal you definitely don’t want to turn down.”

The brand-new wax figure, created after Ahn Hyo Seop participated in a personal sitting, perfectly captures the actor’s “charismatic CEO” persona. A detail that will delights fans, the wax figure showcases the original suit from Ahn Hyo Seop’s “Business Proposal” filming wardrobe, which the actor graciously donated.

This elegant look highlights the actor’s flawless appearance and enchanting presence, immersing visitors in the romantic world of K-dramas. The figure previously debuted at Madame Tussauds Hong Kong before coming to Madame Tussauds Singapore.

Now part of the K-Wave zone at Madame Tussauds Singapore, the figure is now part of an exclusive showcase celebrating global Hallyu icons.

For more information about booking tickets to visit Ahn Hyo Seop at Madame Tussauds Singapore, please visit www.madametussauds.com/singapore/
Hashtag: #MadameTussaudsSingapore



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

Madame Tussauds

Madame Tussauds has been inviting people to walk the red carpet and get closer to the revered – and feared – for over 250 years. With 22 attractions in the world’s top destination cities, we are dedicated to giving millions of visitors the opportunity to mingle with the mighty from A-listers to music legends, heroes of sport, to infamous world leaders. Today, we continue to partner with the global icons of a generation to create astonishing lifelike figures from sittings and offer exciting and interactive experiences to ensure guests have never felt closer to fame.

About Merlin Entertainments

Merlin Entertainments is a world leader in branded entertainment destinations, offering a diverse portfolio of resort theme parks, city-centre gateway attractions and LEGOLAND Resorts which span across UK, US, Western Europe, China and Asia Pacific. Dedicated to creating experiences that inspire joy and connection, Merlin welcomes more than 62 million guests annually to its growing estate, with over 140 sites across 23 countries. An expert in bringing world-famous entertainment brands to life, Merlin works with partners including the LEGO Group, Sony Pictures Entertainment, Peppa Pig, Dreamworks and Ferrari to create destinations where guests can immerse themselves in a wide array of brand-driven worlds, rides, and uplifting learning experiences. See for more information.

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