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China Automotive Systems Reports 77.8% EPS Growth in the Third Quarter of 2025 and Raises Full Year Guidance

By
Advertorial Desk
-

WUHAN, China, Nov. 12, 2025 /PRNewswire/ — China Automotive Systems, Inc. (NASDAQ: CAAS) (“CAAS” or the “Company”), a leading power steering components and systems supplier in China, today announced its unaudited financial results for the third quarter and nine months ended September 30, 2025.

Third Quarter 2025 Highlights

  • Net sales rose 17.7% year-over-year to $193.2 million from $164.2 million in the third quarter of 2024.
  • Net sales in North America climbed 77.3% and sales in Brazil grew 30.5% higher year-over-year.
  • Gross profit increased by 26.6% year-over-year to $33.4 million from $26.4 million in the third quarter of 2024; gross profit margin was 17.3% in the third quarter of 2025 compared with 16.0% in last year’s third quarter.
  • Income from operations increased by 25.3% year-over-year to $13.9 million.
  • Net income attributable to parent company’s common shareholders increased 75.6% to $9.7 million from $5.5 million in the third quarter of 2024.
  • Diluted earnings per share attributable to parent company’s common shareholders increased by 77.8% to $0.32 compared with $0.18 in the third quarter of 2024.

First Nine Months of 2025 Highlights

  • Net sales grew by 16.1% year-over-year to $536.5 million, compared to $462.2 million in the first nine months of 2024.
  • Gross profit increased by 16.0% year-over-year to $92.5 million, compared to $79.7 million in the first nine months of 2024; gross profit margin was 17.2% in the first nine months of 2025 and 2024.
  • Income from operations rose by 12.6% year-over-year to $35.5 million compared to $31.6 million in the first nine months of 2024.
  • Net income attributable to parent company’s common shareholders increased to $24.4 million from $20.9 million in the first nine months of 2024.
  • Diluted earnings per share attributable to parent company’s common shareholders rose by 17.4% to $0.81 compared with $0.69 in the first nine months of 2024.
  • Cash, cash equivalents and short-term investments were $167.3 million, or approximately $5.54 per share, as of September 30, 2025.

Mr. Qizhou Wu, Chief Executive Officer of CAAS, commented, “We continued to grow our sales, gross profit, net profit and cash flow in the third quarter of 2025. We had increased sales across the board in the third quarter and first nine months of the 2025 period, except for sales to Chery Auto, which demonstrated the strength and breadth of our product portfolio.”

“We continued to transition to more technology-focused advanced steering products. In the third quarter of 2025, based on our iRCB’s (intelligent electro-hydraulic circulating ball power steering), performance and cost-efficiency, new orders in July, 2025 were at a record setting pace in the power steering industry for the ramp up to mass production. Our second-generation iRCB is compatible with L2+assisted driving and has begun mass production in China. By optimizing energy consumption, iRCB products are projected to reduce vehicle operational costs creating substantial economic value for customers.”

“The high quality and high performance of our steering products have allowed us to become a tier-1 supplier of advanced steering systems to large global OEM customers in North America, Europe, Asia and South America. International sales have become our growth engine as we continue to expand our customer base and enhance our sales and profits. In the third quarter of 2025, we won our first R-EPS product order from a large, well-known European automaker. This order, with annual sales expected to exceed $100 million, will start mass production by 2027 and power multiple new models. Subsequent to the third quarter of 2025, we launched our active rear-wheel steering which adds to our ADAS capabilities.”

“During the third quarter of 2025, we re-domiciled CAAS to be a Cayman Islands company. Shares continue to be listed under the trading symbol ‘CAAS’. We believe this move will provide cost savings and added flexibility to enhance shareholder value over the long term.”

Mr. Jie Li, Chief Financial Officer of CAAS, commented, “Maintaining a strong balance sheet and financial resources are our highest priorities. Our North and South American sales grew in the third quarter of 2025, and we expect to enhance our organizational structure to capture more future international market opportunities. Cash, cash equivalents and short-term investments were $167.3 million and net working capital was $173.4 million.”

Third Quarter of 2025

Net sales increased by 17.7% year-over-year to $193.2 million, compared to $164.2 million in the third quarter of 2024. CAAS’s subsidiary, Henglong, continued to increase net sales by 7.7% year-over-year to $88.8 million in the large market for Chinese passenger vehicles. The Jiulong subsidiary’s sales to the domestic commercial vehicle steering market rose by 44.4% to $24.9 million, compared with $17.2 million for the third quarter of 2024. International sales of CAAS steering systems were robust. Sales to North American customers increased by 77.3% to $33.1 million, compared to $18.7 million in the third quarter of 2024. North American sales increased primarily due to improved demand by one customer. Sales in Brazil were 30.5% higher in the third quarter of 2025 to $18.6 million from $14.3 million in the third quarter of 2024.

Gross profit grew by 26.6% year-over-year to $33.4 million from $26.4 million in the third quarter of 2024. Gross profit margin increased to 17.3% in the third quarter of 2025, consistent with the second quarter of 2025, but up from 16.0% in the third quarter of 2024. The increase in gross profit margin was mainly due to a change in product mix with greater sales of relatively higher-margin products.

Gain on other sales was $1.8 million in the third quarter of 2025, compared to $0.6 million in the third quarter of 2024. The increase in gain on other sales was mainly due to higher sales of materials.

Selling expenses increased to $6.3 million in the third quarter of 2025, compared to $4.4 million in the third quarter of 2024, primarily due to an increase in salaries and wages, and a rise in marketing expenses. Selling expenses represented 3.3% of net sales in the third quarter of 2025, compared to 2.7% in the third quarter of 2024.

General and administrative expenses (“G&A expenses”) decreased to $4.4 million, compared to $5.1 million in the third quarter of 2024, primarily due to decreased consulting fees and office expenses.  G&A expenses represented 2.3% of net sales in the third quarter of 2025, compared to 3.1% of net sales in the third quarter of 2024.

Research and development expenses (“R&D expenses”) increased to $10.4 million, compared to $6.4 million in the third quarter of 2024, primarily due to an increase in R&D activities. R&D expenses represented 5.4% of net sales in the third quarter of 2025, compared to 3.9% in the third quarter of 2024. Research and development programs include but were not limited to electric power and hydraulic steering systems, automotive intelligence and software technologies, automobile electronics, high polymer materials, and manufacturing technologies.

Other income was $1.3 million for the third quarter of 2025 which was stable with $1.3 million for the three months ended September 30, 2024. 

Income from operations rose 25.3% to $13.9 million in the third quarter of 2025, from $11.1 million in the third quarter of 2024. The increase was primarily due to higher sales and gross profit. 

Interest expense was $0.5 million in the third quarter of 2025, compared to $0.3 million in the third quarter of 2024.

Net financial income was $0.1 million in the third quarter of 2025, compared to net financial expense of $0.2 million in the third quarter of 2024. The increase in net financial income was primarily due to an increase in the foreign exchange gain due to foreign exchange volatility. 

Income before income tax expenses and equity in earnings of affiliated companies was $14.9 million in the third quarter of 2025, compared to income before income tax expenses and equity in earnings of affiliated companies of $11.9 million in the third quarter of 2024. The change in income before income tax expenses and equity in earnings of affiliated companies was mainly due to higher income from operations in the third quarter of 2025 compared with income in last year’s same quarter.

Income tax expense was $3.2 million in the third quarter of 2025, compared to $4.0 million for the third quarter of 2024. The decrease in income tax expense was primarily due to a one-time income tax expense settlement for the subsidiaries in the PRC in last year’s same quarter.

Net income attributable to parent company’s common shareholders was $9.7 million in the third quarter of 2025, compared to net income attributable to parent company’s common shareholders of $5.5 million in the third quarter of 2024. Diluted earnings per share was $0.32 in the third quarter of 2025, compared to $0.18 per share in the third quarter of 2024.

The weighted average number of diluted common shares outstanding was 30,170,702 in the third quarter of 2025, compared to 30,185,702 in the third quarter of 2024.

Nine Months of 2025

Net sales increased by 16.1% year-over-year to $536.5 million in the first nine months of 2025, compared to $462.2 million in the nine months of 2024 primarily due to increased sales volume. Nine-month’s gross profit increased by 16.0% year-over-year to $92.5 million from $79.7 million in the corresponding period last year. Nine-month gross profit margin was 17.2%, which was stable with the 17.2% in the first nine months of 2024. The gain on other sales was $3.4 million in the first nine months of 2025, compared to $2.8 million in the corresponding period last year.  Income from operations increased by 12.6% year-over-year to $35.5 million in the first nine months of 2025 from $31.6 million in the first nine months of 2024. 

Net income attributable to parent company’s common shareholders was $24.4 million in the first nine months of 2025, compared to net income attributable to parent company’s common shareholders of $20.9 million in the corresponding period in 2024. Diluted earnings per share in the first nine months of 2025 were $0.81, compared to diluted earnings per share of $0.69 in the first nine months of 2024.

Balance Sheet

Cash, cash equivalents and short-term investments were $167.3 million, or approximately $5.54 per share, as of September 30, 2025. Net working capital was $173.4 million. Total accounts receivable including notes receivable were $298.2 million, accounts payable including notes payable were $316.3 million, and short-term loans were $81.2 million. Total parent company stockholders’ equity was $378.8 million as of September 30, 2025, compared to $349.6 million as of December 31, 2024.

Business Outlook

Management has raised revenue guidance for the full fiscal year 2025 to $730.0 million. This target is based on the Company’s current views on operating and market conditions, which are subject to change.

About China Automotive Systems, Inc.

Based in Hubei Province, the People’s Republic of China, China Automotive Systems, Inc. is a leading supplier of power steering components and systems to the Chinese automotive industry, operating through its sixteen Sino-foreign joint ventures and wholly-owned subsidiaries. The Company offers a full range of steering system parts for passenger automobiles and commercial vehicles. The Company currently offers four separate series of power steering with an annual production capacity of over 8 million sets of steering gears, columns and steering hoses. Its customer base is comprised of leading auto manufacturers, such as China FAW Group, Corp., Dongfeng Auto Group Co., Ltd., BYD Auto Company Limited, Beiqi Foton Motor Co., Ltd. and Chery Automobile Co., Ltd. in China, and Stellantis N.V. and Ford Motor Company in North America. For more information, please visit: http://www.caasauto.com.

Forward-Looking Statements

This press release contains statements that are “forward-looking statements” as defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our estimates and assumptions only as of the date of this press release. Our actual results may differ materially from the results described in or anticipated by our forward-looking statements due to certain risks and uncertainties. As a result, the Company’s actual results could differ materially from those contained in these forward-looking statements due to a number of factors, including those described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission on March 28, 2025, and in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. Any of these factors and other factors beyond our control, could have an adverse effect on the overall business environment, cause uncertainties in the regions where we conduct business, cause our business to suffer in ways that we cannot predict, and materially and adversely impact our business, financial condition and results of operations. A prolonged disruption or any further unforeseen delay in our operations of the manufacturing, delivery and assembly process within any of our production facilities could result in delays in the shipment of products to our customers, increase costs and reduce revenue. We expressly disclaim any duty to provide updates to any forward-looking statements made in this press release, whether as a result of new information, future events or otherwise.

For further information, please contact:

Jie Li
Chief Financial Officer
China Automotive Systems, Inc.
jieli@chl.com.cn

Kevin Theiss
Awaken Advisors
+1-212-510-8922
Kevin@awakenlab.com 

-Tables Follow –

China Automotive Systems, Inc. and Subsidiaries

Condensed Unaudited Consolidated Statements of Operations and Comprehensive Income

(In thousands of USD, except share and per share amounts)

Three Months Ended September 30, 

2025

2024

Net product sales

$

193,203

$

164,215

Cost of products sold

159,825

137,859

     Gross profit

33,378

26,356

Gain on other sales

1,762

553

Less: Operating expenses

Selling expenses

6,345

4,357

General and administrative expenses

4,447

5,070

Research and development expenses

10,437

6,383

Total operating expenses

21,229

15,810

     Income from operations

13,911

11,099

Other income, net

1,308

1,251

Interest expense

(467)

(271)

Financial income/(expense), net

120

(167)

Income before income tax expenses and equity in earnings
  of affiliated companies

14,872

11,912

Less: Income taxes

3,190

4,042

Add: Equity in losses of affiliated companies

98

203

Net income

11,780

8,073

Less: Net income attributable to non-controlling interests

2,113

2,562

Accretion to redemption value of redeemable non-
  controlling interests

—

(7)

     Net income attributable to parent company’s
  common shareholders

$

9,667

$

5,504

Comprehensive income:

Net income

$

11,780

$

8,073

Other comprehensive income:

Foreign currency translation gain, net of tax

3,177

6,584

Comprehensive income

14,957

14,657

Less: Comprehensive income attributable to non-
  controlling interests

2,488

3,287

Accretion to redemption value of redeemable non-
  controlling interests

—

(7)

Comprehensive income attributable to parent company

$

12,469

$

11,363

Net income attributable to parent company’s common
  shareholders per share –

Basic

$

0.32

$

0.18

Diluted

$

0.32

$

0.18

Weighted average number of common shares outstanding
  –

Basic

30,170,702

30,185,702

Diluted

30,170,702

30,185,702

 

China Automotive Systems, Inc. and Subsidiaries

Condensed Unaudited Consolidated Statements of Operations and Comprehensive Income

(In thousands of USD, except share and per share amounts)

Nine Months Ended September 30, 

2025

2024

Net product sales

$

536,542

$

462,217

Cost of products sold

444,032

382,490

     Gross profit

92,510

79,727

Gain on other sales

3,368

2,787

Less: Operating expenses

Selling expenses

15,677

13,044

General and administrative expenses

17,424

18,035

Research and development expenses

27,242

19,879

Total operating expenses

60,343

50,958

     Income from operations

35,535

31,556

Other income, net

4,309

5,389

Interest expense

(1,242)

(712)

Financial income/(expense), net

3,425

(869)

Income before income tax expenses and equity in earnings of
  affiliated companies

42,027

35,364

Less: Income taxes

10,176

7,893

Add: Equity in losses of affiliated companies

(1,244)

(1,379)

Net income

30,607

26,092

Less: Net income attributable to non-controlling interests

6,193

5,159

Accretion to redemption value of redeemable non-controlling
  interests

—

(22)

     Net income attributable to parent company’s common
  shareholders

$

24,414

$

20,911

Comprehensive income:

Net income

$

30,607

$

26,092

Other comprehensive income:

Foreign currency translation gain, net of tax

5,439

3,390

Comprehensive income

36,046

29,482

Less: Comprehensive income attributable to non-controlling
  interests

6,771

5,659

Accretion to redemption value of redeemable non-controlling
  interests

—

(22)

Comprehensive income attributable to parent company

$

29,275

$

23,801

Net income attributable to parent company’s common
  shareholders per share –

Basic

$

0.81

$

0.69

Diluted

$

0.81

$

0.69

Weighted average number of common shares outstanding –

Basic

30,170,702

30,185,702

Diluted

30,170,702

30,185,702

 

China Automotive Systems, Inc. and Subsidiaries

Condensed Unaudited Consolidated Balance Sheets

(In thousands of USD unless otherwise indicated)

September 30, 2025

December 31, 2024

ASSETS

Current assets:

Cash and cash equivalents

$

139,415

$

56,961

Pledged cash

39,285

44,863

Accounts and notes receivable, net

298,165

343,499

Inventories

117,546

112,558

Other current assets

88,249

44,757

     Total current assets

682,660

602,638

Non-current assets:

Property, plant and equipment, net

120,272

103,820

Land use rights, net

9,237

8,835

Long-term investments

62,391

64,332

Other non-current assets

64,581

70,954

     Total assets

$

939,141

$

850,579

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Short-term loans

$

81,235

$

72,566

Accounts and notes payable

316,265

292,808

Accrued expenses and other payables

86,021

59,238

Other current liabilities

25,752

31,870

     Total current liabilities

509,273

456,482

Long-term liabilities:

Other non-current liabilities

4,034

4,308

     Total liabilities

$

513,307

$

460,790

Commitments and Contingencies

Stockholders’ equity:

Common stock, $0.0001 par value – Authorized – 80,000,000 shares; Issued –
  32,338,302 and 32,338,302 shares as of September 30, 2025 and December 31, 2024,
  respectively

$

3

$

3

Additional paid-in capital

69,656

69,656

Retained earnings-

Appropriated

13,667

12,180

Unappropriated

313,199

290,273

Accumulated other comprehensive income

(9,919)

(14,780)

Treasury stock –2,167,600 and 2,167,600 shares as of September 30, 2025 and
  December 31, 2024, respectively

(7,763)

(7,763)

     Total parent company stockholders’ equity

378,843

349,569

Non-controlling interests

46,991

40,220

Total stockholders’ equity

425,834

389,789

Total liabilities and stockholders’ equity

$

939,141

$

850,579

 

SALOMON’s Decade-Long Investment in Chinese Trail Running Culminates in Dominant TsaiGu Trail 2025 Victory

By
Advertorial Desk
-

Brand’s “Lighthouse Initiative” and long-term athlete strategy fuels the rise of Chinese trail running, reinforcing its global commitment to the sport.

LINHAI, China, Nov. 12, 2025 /PRNewswire/ — SALOMON, the global leader in trail running, highlights its deep commitment to the sport in China following a dominant team performance at the TsaiGu Trail 2025. SALOMON athletes secured victories across both men’s and women’s divisions in the 25K, 50K, and 105K categories, demonstrating the brand’s decade-long, systemic investment in the Chinese trail running community.

This competitive success stems from SALOMON’s long-term strategy to nurture talent through initiatives like the “Lighthouse Initiative”, which provides structured support, elite training camps, and community development for runners at every level.

Building a Foundation for Long-Term Success in China

For the past decade, the brand has focused on building a complete ecosystem, from introducing international training methodologies to creating pathways for aspiring athletes to turn professional.

This sustained investment is now yielding results. At TsaiGu Trail 2025, 20-year-old Fan Banglin identified through SALOMON’s talent development project, set a new course record of 4:14:33 to win the 50K. Zhang Huohua, supported by the brand since 2021, claimed his third champion title at the event with a victory in the 105K. Another athlete, Chi Lingjie, successfully transitioned from marathon to trail running with a professional training plan from SALOMON, delivering excellent performances this year in multiple races.

Market data confirms this success, showing SALOMON as the top shoe brand in key distances at events like the Golden Trail World Series at Jinshanling and the TsaiGu Trail, underscoring the competitiveness of its product portfolio.

Global Excellence Mirrors Local Commitment 

SALOMON’s athlete development philosophy is consistently applied worldwide, creating champions both in China and across the global stage. This commitment to long-term partnership is exemplified by elite athletes like Rémi Bonnet, who has dominated the Golden Trail World Series with multiple victories, supported by SALOMON’s performance innovation and sports science resources.

Similarly, Courtney Dauwalter’s remarkable career, including her historic triple crown of UTMB, Western States, and Hardrock 100, has been nurtured by SALOMON since 2017. François D’Haene’s four UTMB victories and successful comeback after injury further demonstrate SALOMON’s unwavering support through an athlete’s entire career journey.

Deepening Commitment Through the “Lighthouse Initiative”

The launch of the second phase of SALOMON’s “Lighthouse Initiative” prize fund reinforces the brand’s core commitment to trail running. With total awards across both phases now totaling approximately €120,000 (equivalent to over 1 million RMB), the initiative is designed to provide substantial support for athletes, cultivate a stronger environment for the sport in China, and nurture the next generation of trail running stars.

As a global leader in trail running, SALOMON remains dedicated to advancing the sport’s development and cultural heritage. Moving forward, the brand will continue to leverage the “Lighthouse Initiative” to inspire more athletes to excel and break new ground in competitive trail running, elevating China’s trail running scene to unprecedented heights.

A New Decade of Global Integration

From community building to leading international dialogue, SALOMON will continue its efforts to establish China as a third major hub in the global trail running landscape. The brand aims to attract runners from around the world to experience China’s unique racing venues and cultural offerings, while persistently fostering deeper integration and mutual progress between Chinese trail culture and the global ecosystem.

This ten-year milestone marks both a significant achievement in SALOMON’s dedication to trail running culture and the starting point for an even more ambitious journey ahead.

Innovation Engine Drives Global Expansion: Baida Popping Leads the Industry Towards Premium Quality

By
Advertorial Desk
-

CHAOZHOU, China, Nov. 12, 2025 /PRNewswire/ — Against the backdrop of the global food industry’s ongoing pursuit of healthier, more engaging, and premium transformations, Guangdong Shantai Food Co., Ltd. (hereinafter referred to as “Shantai Family “)—a comprehensive snack food enterprise integrating R&D, production, and sales—has consistently pursued a dual strategy of “Technology + Creativity.” Through continuous product innovation and the expansion of its international market presence, Shantai has steadily enhanced its core brand competitiveness.

In the first half of 2025, Shantai successively participated in multiple important domestic and international industry exhibitions, including the 112th National Food and Drinks Trade Fair, the 137th China Import and Export Fair, the SIAL Shanghai, and the 3rd Guangdong (Chaozhou) Specialty Food Industry Conference，THAIFEX-ANUGA ASIA 2025 and World Food Moscow. It comprehensively showcased a series of innovative products centered around “the third-generation popping candy technology”, fully demonstrating the innovative vitality and manufacturing excellence of Chinese food enterprises. This attracted widespread attention and partnership interest from numerous professional buyers, distributors, and consumers both domestically and internationally, further enhancing the brand’s influence and market reputation.


Innovative product system and diversified consumption scenarios

Amid evolving consumption patterns and increasing segmentation in the snack industry, Shantai has systematically built a comprehensive product matrix—spanning six categories and 48 flavors—based on its self-developed “third-generation popping candy technology.” This diversified portfolio addresses various niche demands, including sugar-free options and oat-based healthy ingredients, featuring products such as classic popping candy, milk stick candy, popping stick candy, and popping balloons. An interactive experience zone set up at the exhibition attracted numerous industry professionals and international buyers.

The new-generation Baida popping, with its unique bubble-activation technology, delivers a multi-layered sensory experience—ranging from gentle “sparkling pops” to intense “explosive jumps”—significantly enhancing the product’s playfulness and memorability.

Additionally, Shantai has launched new series such as “Sour Series” and “Cooling Sensation” to cater to regional consumer preferences, further diversifying the sensory experience. Innovative derivative products like “Popping Chocolate Sticks” have also received positive feedback from distributors and international buyers for their fun texture and chewiness.

At the exhibitions, many overseas purchasers engaged in in-depth discussions with Shantai’s sales and international trade teams, conducting substantive negotiations on import policies, customized cooperation, and logistics support. These interactions demonstrated the strong acceptance and business potential of Shantai’s products in global markets.

A century of heritage lays the foundation for a secure, stable, and flexible supply chain

Since its founding in Chaozhou in 1917, Shantai has been passed down through four generations, evolving from a traditional handmade confectionery workshop into a modern food enterprise now recognized as both a “Guangdong Time-honored Brand” and a National High-Tech Enterprise. The company places strong emphasis on quality control and standardization, having established two modern production bases with a total area exceeding 20,000 square meters. Production workshops are strictly designed and managed in compliance with the 100,000-class GMP cleanliness standard. Since 2004, Shantai has obtained multiple international food safety certifications—including HACCP, ISO 22000, IFS, BRC, HALAL, KOSHER, and SMETA—and implemented a comprehensive quality control system covering the entire process from raw material sourcing and production to finished product delivery.

On the technical front, Shantai remains committed to in-house development of key equipment and continuous improvement of production processes. Its third-generation popping candy maintains the signature popping experience while achieving a breakthrough in heat resistance of up to 52°C, significantly enhancing the product’s climate adaptability and logistics reach. Even in high-temperature and high-humidity regions, it retains stable performance. Currently, the company’s annual production capacity exceeds 5 billion packs, with products exported to over 100 countries and regions worldwide. Shantai has become a long-term supplier for numerous international snack brands and retail chains.

Additionally, leveraging 9 self-developed production lines, 20 high-speed automated packaging lines, and a flexible manufacturing system, the company has established a structured product portfolio covering 48 base flavors and numerous customizable options. This system supports diverse product demands—including sugar-free and low-calorie health-oriented concepts.

Through a database of 11 standard product formats and a 72-hour rapid sampling response mechanism, Shantai offers highly customized OEM/ODM solutions, helping brand clients efficiently transition from product concept to mass production. This strengthens its position as a global hub for manufacturing and innovation in popping candy.

In 2023, Shantai was recognized as a “National High-Tech Enterprise,” and in 2025, it was again listed among Chaozhou’s first batch of AEO-certified enterprises—further demonstrating its excellence in technological innovation and international trade compliance.

Eco-Synergistic strategic layout for global markets

Facing the new trends of channel fragmentation and consumption stratification in the snack industry, Shantai strategically enhanced its channel development and brand partnership initiatives in 2025.

In traditional retail and convenience store channels, the company enhanced product visibility and repurchase rates by optimizing packaging and display layouts for its classic items. For emerging brand snack collective stores, Shantai launched multi-size, cost-effective product series, maintaining quality while effectively controlling retail prices to expand reach among younger consumers.

Additionally, customized theme collections compatible with PDQ (Product Display Quickly) systems were developed for membership stores and hypermarkets. These initiatives leveraged the display advantages of such channels to enhance brand visual impact and drive experiential purchasing.

Mr. Hong Yonghong, General Manager of Shantai, stated in an interview that participating in international exhibitions is not only a platform to showcase products and technologies, but also a key initiative to deeply connect with global supply chain partners and co-create an industry ecosystem.

During the series of exhibitions in the first half of the year, Shantai’s booth received industry professionals from East Asia, Southeast Asia, the Middle East, Europe, the United States, and other regions. Extensive discussions were held regarding distribution agreements, technology licensing, and joint product development, laying a solid foundation for further expanding the international market and optimizing regional presence.

Looking ahead, Shantai will remain committed to its strategic vision of “Building the World’s Most Enjoyable Food Enterprise,” by increasing R&D investment and advancing intelligent manufacturing and digital transformation. While consolidating its leading position in the popping candy category, the company will steadily expand into broader snack food segments.

By integrating consumption scenario innovation, flavor science, and health considerations, Shantai is committed to delivering more innovative products that combine fun and high quality to global consumers. Together with value-chain partners, it aims to build a sustainable and mutually beneficial industrial ecosystem.

 

AS Watson Surpasses Halfway Mark in Global Youth Employment Pledge: 134,000 Young People Recruited Worldwide and 3.8 Million Training Hours Delivered to Empower Future Retail Leaders

By
Advertorial Desk
-

HONG KONG SAR – Media OutReach Newswire – 12 November 2025 – AS Watson, the world’s largest international health and beauty retailer, has reached a major milestone in its global youth employment pledge – recruiting 134,000 young people to date and delivering 3.8 million hours of training. This achievement marks more than halfway toward its goal of creating 200,000 opportunities by 2030.

AS Watson Commitment to Young People

Alongside job creation, AS Watson has invested heavily in training and development, delivering 3.8 million hours of learning to new joiners in their first year – meaning each young person receives on average 28 hours of learning. This initiative underscores the Group’s dedication to empowering young talent with the skills needed to thrive in a rapidly evolving retail landscape.

AS Watson launched the Pledge in 2022 to address the challenges young people face when entering the workforce. A lack of initial workplace experience and a disconnect between academic learning and practical skills often limit their employability. AS Watson is committed to helping them overcome these barriers by providing hands-on experience and practical skills training that bridge the gap between education and the workplace.

Empowering the Next Generation

Dr. Malina Ngai, Group CEO of AS Watson, said, “At AS Watson, we give young people more than a job – we give them belonging, purpose, and the tools to succeed.”

“When we invest in young people, we invest in the future of everything – our industry, our communities, and our world. That’s the real purpose behind every opportunity we create.”

Impact Beyond Numbers

Beyond offering first jobs, AS Watson’s programme focuses on long-term career growth. It equips young employees with essential digital, customer service, and leadership skills. The Group continues to collaborate with educational institutions and NGOs to ensure inclusive access to career opportunities.

Looking ahead, AS Watson remains committed to:

  • Reach 200,000 youth employment opportunities by 2030
  • Expand training in digital skills and sustainability roles
  • Drive innovation through technology and Generative Al in retail

To learn more about AS Watson’s youth employment initiatives and career opportunities, visit Join Us | AS Watson Group – A member of CK Hutchison Holdings

Hashtag: #ASWatson



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

Johnson Electric reports results for the half year ended 30 September 2025

By
Advertorial Desk
-

Highlights of FY25/26 Half-Year Results

  • Group sales US$1,833 million – down 1% compared to first half of the prior financial year
  • Gross profit US$441 million or 24.0% of sales (compared to US$438 million or 23.6% of sales in the first half of the prior financial year)
  • Adjusted EBITA US$159 million or 8.7% of sales (compared to US$177 million or 9.5% of sales in the first half of the prior financial year)
  • Net profit attributable to shareholders increased by 3% to US$133 million or 14.21 US cents per share on a fully diluted basis
  • Underlying net profit, excluding the net impact of unrealized gains or losses relating to exchange rate movements and restructuring costs, decreased by 8% to US$123 million
  • Free cash flow from operations US$174 million (compared to US$144 million in the first half of the prior financial year)
  • Total debt to capital ratio of 11% and cash reserves of US$932 million as of 30 September 2025
  • Interim dividend 17 HK cents per share (2.18 US cents per share)

HONG KONG SAR – Media OutReach Newswire – 12 November 2025 – Johnson Electric Holdings Limited (“Johnson Electric”), a global leader in electric motors and motion subsystems, today announced its results for the six months ended 30 September 2025.

Total group sales for the first half of the 2025/26 financial year totalled US$1,833 million, a decrease of 1% over the first half of the prior financial year. Excluding the effect of foreign exchange rate changes, sales declined by 2%. Net profit attributable to shareholders increased by 3% to US$133 million or 14.21 US cents per share on a fully diluted basis. Underlying net profit decreased by 8% to US$123 million.

Automotive Products Group

The Automotive Products Group (“APG”), which accounted for 84% of total Group sales in the period under review, reported a 3% decline in sales on a constant currency basis. On a regional basis, APG’s constant currency sales were lower by 6% in Asia, 1% in the Americas, and 1% in Europe.

The reduced level of sales achieved in the first half reflected the combination of price reductions for more mature product applications and APG’s Sino-foreign joint venture OEM customers in China continuing to experience a significant loss in market share.

Car production in Asia, dominated by China, now accounts for approximately 60 percent of global vehicle volume. Beyond its sheer size, the dynamism of China’s auto sector is transforming the market domestically and, increasingly, globally. Government subsidies, expanding charging infrastructure, and aggressive pricing among the more than 100 brands of electric vehicles have fuelled a structural shift to electrification – with New Energy Vehicles (NEVs) amounting to over half of all passenger vehicles sold in China. Domestic OEM brands are leading this transformation, having almost doubled their market share in less than five years to over two-thirds of domestic sales.

In the short term, APG has been negatively impacted by the rapid shift in automotive OEM market share, since a majority of its sales in China have historically been to Sino-foreign joint venture customers. However, encouraging progress is being made in winning new business from several leading domestic Chinese OEM customers who have found Johnson Electric to be a responsive and cost-competitive partner to support their future growth plans. Those plans include accelerating exports of “Made in China” vehicles, as well as establishing assembly plants elsewhere in the world that will produce a new generation of vehicles “Designed in China”. As the newly awarded programs begin to ramp-up production in the second half of the financial year, APG is on track to return to growth.

Outside of Asia, automotive industry demand over the period under review was relatively subdued. In Europe, consumer interest in NEVs remains strong, especially for plug-in hybrids, but concerns over job security and the comparatively higher price of NEVs are keeping buyers in check. The region’s automakers are themselves faced with enormous structural challenges that include increased competition from Chinese brands who have taken five percent of the market, and excess production capacity that is forcing several OEMs to pause production in some plants and rethink their future vehicle roadmaps.

North America’s automotive sector is similarly navigating a turbulent landscape shaped by trade policy uncertainty, shifting consumer behaviour, and electrification trends. Earlier in the year, the market was lifted by a consumer rush to buy new cars to beat an expected tariff-induced price hike. Demand momentum has since softened, except for a brief boost to electric vehicle sales spurred by the expiry of a federal tax credit. Volatile tariff policies are also disrupting supply chains, requiring OEMs and their suppliers to reconfigure operations across the US, Canada, and Mexico. These changes are increasing costs, leading to higher vehicle prices and reduced affordability.

APG’s strategy in the context of this varied and highly unpredictable global operating environment remains, firstly, to focus on bringing to market innovative motion technologies that enable electrification, reduce emissions, and enhance passenger safety and comfort. Secondly, APG aims to offer its diverse base of customers an unrivalled total cost and value proposition that combines speed, scale, and reliability of production with an adaptable global operating footprint.

Industry Products Group

The Industry Products Group (“IPG”), which accounted for 16% of total Group sales, reported flat sales compared to the first half of the prior financial year on a constant currency basis.

IPG’s sales have stabilized after a difficult period of contraction that resulted from a softening in demand for discretionary hardware products (relative to services) in the post-pandemic era; and low pricing (rather than brand name, functionality, or reliability) increasingly becoming the key purchasing criteria for many consumers.

Management has rationalized and consolidated its production to focus on application segments where it can leverage highly automated assembly lines and digital processes to be more cost competitive. Equally important, new business development has been redirected towards the rapidly growing base of Chinese manufacturers who are capturing an increasing share of the global market for consumer and commercial hardware goods – particularly for low-priced, entry-level products. Although the repositioning of IPG is still at an early stage, the division has secured several recent orders that give rise to optimism.

In parallel to targeting high-volume, standardized motion product applications, IPG has continued to make progress in supplying motion subsystem solutions to more specialized, higher-growth segments, including warehouse automation, medical devices, semiconductor manufacturing equipment, and liquid cooling applications.

Formation of PRC Joint Ventures to pursue opportunities in Humanoid Robotics

In July 2025, the Group announced the formation of two joint venture companies with Shanghai Mechanical & Electrical Industry Co., Ltd, a leading Chinese industrial manufacturing company with extensive interests across a wide range of end markets. This new initiative has been established to enable the end-to-end delivery of high-performance humanoid robotic core components and subsystems to customers across the PRC. The two joint ventures are structured to complement one another – combining sales, business development and customer application support with product design, engineering, and manufacturing expertise.

Gross Margins and Operating Profitability

Gross profit margins increased slightly to 24.0% from 23.6%, primarily due to reduced direct labour costs, material cost deflation, and favourable foreign exchange rate movements that outweighed the effects of price reductions and wage inflation.

Reported earnings before interest, tax and amortization (“EBITA”) was flat at US$171 million. Adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, EBITA was US$159 million or 8.7% of sales.

Free Cash Flow and Financial Condition

Free cash flow from operations increased to US$174 million from US$144 million, largely due to a reduction in working capital that more than offset an increase in capital expenditure. Capital expenditure levels in the near term are expected to remain at a high single-digit percentage of sales due to planned investments in automation and further development of the manufacturing footprint.

The Group remains in a financially robust condition with a total debt to capital ratio of 11% and cash balances of US$932 million as of 30 September 2025.

Interim Dividend

The Board has today declared an interim dividend of 17 HK cents per share, equivalent to 2.18 US cents per share (2024/25 interim: 17 HK cents per share). The interim dividend will be payable on 6 January 2026 to shareholders registered on 9 December 2025.

Chairman’s Comments on the Half-Year Results and Outlook

Commenting on the results, Dr. Patrick Wang, Chairman and Chief Executive, said, “Johnson Electric delivered stable financial results in the six-month period ended 30 September 2025, despite subdued macro-economic conditions and ongoing uncertainty concerning global trade tariffs.”

“Although the global economy is showing resilience in the face of the disruption caused by the radical shift in US international trade policy, overall consumer sentiment in the world’s major economies has remained cautious due to cost of living concerns and softening labour markets. In Johnson Electric’s primary end markets of automotive vehicles and consumer and industrial hardware products, the impact has been mixed. Favourable growth dynamics in several new motion application segments are being offset by sluggish growth of more mature products and by OEM customers delaying the launch of new programs due to ongoing uncertainties related to demand and global supply chain configurations.”

Regarding the outlook for the second half of the financial year, Dr. Patrick Wang commented, “The resilience of the global economy during the first half of the year belied a precarious environment for trade and investment that remains a significant concern for international manufacturing businesses. The new regime of higher US tariffs on imports from almost all countries is still unfolding and its impact on consumer behaviour, business confidence, and manufacturing supply chains is unclear.”

Dr. Patrick Wang further commented, “Notwithstanding the highly uncertain macro-economic outlook, Johnson Electric is cautiously optimistic that its sales in the second half of the financial year will improve modestly over the prior year. Over the medium and longer term – and assuming that the ongoing trade negotiations between the US and China result in a pragmatic agreement – the prospects for profitable growth are encouraging. Our product portfolio of innovative components and subsystems is uniquely well placed to help our customers solve their most critical motion-related problems. And we are continuing to invest in adapting and strengthening our operating model to provide security of supply to customers at the same time as delivering sustainable value creation for shareholders.”

Hashtag: #JohnsonElectric

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

About Johnson Electric Group

The Johnson Electric Group is a global leader in electric motors, actuators, motion subsystems and related electro-mechanical components. It serves a broad range of industries including Automotive, Smart Metering, Medical Devices, Business Equipment, Home Automation, Ventilation, White Goods, Power Tools, and Lawn & Garden Equipment. The Group is headquartered in Hong Kong and employs over 30,000 individuals in over 20 countries worldwide. Johnson Electric Holdings Limited is listed on The Stock Exchange of Hong Kong Limited (Stock Code: 179). For further information, please visit: .

Forward Looking Statements
This news release contains certain forward looking statements with respect to the financial condition, results of operations and business of Johnson Electric and certain plans and objectives of the management of Johnson Electric.

Words such as “outlook”, “expects”, “anticipates”, “intends”, “plans”, “believe”, “estimates”, “projects”, variations of such words and similar expressions are intended to identify such forward looking statements. Such forward looking statements involve known and unknown risk, uncertainties and other factors which may cause the actual results or performance of Johnson Electric to be materially different from any future results or performance expressed or implied by such forward looking statements. Such forward looking statements are based on numerous assumptions regarding Johnson Electric’s present and future business strategies and the political and economic environment in which Johnson Electric will operate in the future.

Qudian Inc. Announces Board Approval of Changes to Company Name and Ticker Symbol, as well as Calling of Extraordinary General Meeting

By
Advertorial Desk
-

XIAMEN, China, Nov. 12, 2025 /PRNewswire/ — Qudian Inc. (“Qudian” or “the Company” or “We”) (NYSE: QD), a consumer-oriented technology company in China, today announced that the Company’s board of directors (the “Board”) resolved to change the Company’s (i) English name to “High Templar Tech Limited” (the “English Name Change”), subject to shareholder approval being received for the English Name Change and (ii) ticker symbol to “HTT”.

Pursuant to the Company’s Second Amended and Restated Articles of Association, the English Name Change needs to be adopted by a special resolution at a general meeting of shareholders. For the purpose of seeking such shareholder approval, the Board also resolved to call an extraordinary general meeting of shareholders (the “EGM”) to consider the English Name Change.

The EGM will be held at Building 1, Qudian Innovation Park, Meilin Street, Tongan District, Xiamen, Fujian Province, China on December 10, 2025 at 10:00 a.m., local time.

Holders of record of the Company’s ordinary shares at the close of business on November 17, 2025, New York time (the “Record Date”) are entitled to notice of, and to attend and vote at the extraordinary general meeting or any adjournment thereof. Holders of the Company’s American Depositary Shares (“ADSs”) who wish to exercise their voting rights for the underlying ordinary shares must act through Deutsche Bank Trust Company Americas, the depositary of the Company’s ADS program.

Notice of the extraordinary general meeting, which sets forth the resolutions to be submitted for shareholder approval at the extraordinary general meeting, is available on the Investor Relations section of the Company’s website at https://ir.qudian.com/.

About Qudian Inc.

Qudian Inc. (to be renamed as High Templar Tech Limited) (NYSE: QD) (to be changed to HTT) is a consumer-oriented technology company. Qudian is exploring innovative business opportunities to satisfy consumers’ demand by leveraging its technology capabilities. For more information, please visit http://ir.qudian.com.

For investor and media inquiries, please contact:

In China:
Qudian Inc.
Tel: +86-592-596-8208
E-mail: ir@qudian.com

Vipshop Holdings Limited to Hold Annual General Meeting on December 5, 2025

By
Advertorial Desk
-

GUANGZHOU, China, Nov. 12, 2025 /PRNewswire/ — Vipshop Holdings Limited (NYSE: VIPS), a leading online discount retailer for brands in China (“Vipshop” or the “Company“), today announced that it will hold an annual general meeting of shareholders at Vipshop Headquarters, 128 Dingxin Road, Haizhu District, Guangzhou 510220, People’s Republic of China on December 5, 2025 at 11:00 a.m., Beijing time.

No proposal will be submitted for shareholder approval at the annual general meeting. Instead, the annual general meeting will serve as an open forum for shareholders and beneficial owners of the Company’s American depositary shares (“ADSs“) to discuss Company affairs with management.

The board of directors of the Company has fixed the close of business on November 10, 2025 as the record date (the “Record Date“) for determining the holders of the Company’s ordinary shares that are entitled to receive notice of, and to attend, the annual general meeting or any adjourned or postponed meeting thereof.

Holders of record of the Company’s ordinary shares at the close of business on the Record Date are entitled to attend the annual general meeting and any adjournment or postponement thereof in person. Beneficial owners of the Company’s ADSs are welcome to attend the annual general meeting in person.

The Company has filed its annual report on Form 20-F (the “Annual Report“), which includes the Company’s audited financial statements for the fiscal year ended December 31, 2024, with the U.S. Securities and Exchange Commission (the “SEC“). The Company’s Annual Report can be accessed on the investor relations section of its website at https://ir.vip.com/, as well as on the SEC’s website at https://www.sec.gov/.

Holders of the Company’s ordinary shares or ADSs may obtain a hard copy of the Annual Report free of charge by emailing Jessie Zheng, Vipshop Holdings Limited, at ir@vipshop.com or by writing to:

Vipshop Headquarters, 128 Dingxin Road
Haizhu District, Guangzhou 510220
People’s Republic of China
Attention: Jessie Zheng

About Vipshop Holdings Limited

Vipshop Holdings Limited is a leading online discount retailer for brands in China. Vipshop offers high quality and popular branded products to consumers throughout China at a significant discount to retail prices. Since it was founded in August 2008, the Company has rapidly built a sizeable and growing base of customers and brand partners. For more information, please visit https://ir.vip.com/.

Investor Relations Contact

Tel: +86 (20) 2233-0732
Email: IR@vipshop.com

Free Bus Services on Opening and Closing Days of the 12th National Games

By
Thongsavanh Souvannasane
-
Vientiane Capital will provide free BRT and bus services from 15 to 25 November to support the 12th National Games.

Vientiane Capital will provide free Bus Rapid Transit (BRT) and public bus services on 15 and 25 November, coinciding with the opening and closing ceremonies of the 12th National Games, to facilitate the movement of athletes, officials, and spectators. 

The initiative, announced by the Vientiane Public Works and Transport Department on 11 November, aims to reduce traffic congestion, improve accessibility, and ensure the smooth flow of participants and visitors during the major national sporting event.

According to the official notice, three main free routes will operate on these two days.

The first route will run from the That Luang area near Saphanglane Lake (Nongbone intersection) to the Lao National Stadium at KM 16, using 16 BRT buses. Services will operate between 1:00 PM and 3:00 PM for departures and 6:00 PM to midnight for return trips from the stadium back to That Luang.

The second route, operated with standard public buses, will start from the Dongdok intersection, travel along 450 Years Road, pass by the Lao-China Railway (LCR) Station, and continue to the Lao National Stadium KM 16 near the Lao Railway Vocational Technical College before returning via the same route. 

Buses will operate every 30 minutes from 1:00 PM to midnight, stopping at designated temporary bus stops.

The third route will start at the Xaythany District Public Security Office, pass Donnoun Roundabout, and continue along National Road No. 13 South to the KM 21 traffic light before returning on the same route. Services will run every 30 minutes from 1:00 PM to midnight, with stops at temporary bus signs along the way.

Moreover, traffic control measures will also be in place on 15 and 25 November, with restrictions around Donnoun Roundabout, KM 21 traffic lights, and the LCR area. Only authorized vehicles for athletes, guests, and officials may use BRT lanes, while private vehicles are prohibited. 

Meanwhile, the Ministry of Public Works and Transport has launched a two-month free BRT trial service beginning on 8 November, operating on weekdays from 7:00 AM to 7:00 PM. The route runs from View Mall, passing SOS School, the International Cooperation and Training Center (ICTC), Phonphanao, Phonkheng, Souphanouvong, Phonsaart, Patuxay, and returning to View Mall.

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