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CaoCao Inc. and Abu Dhabi Investment Office Sign MoU to Advance Autonomous Driving and Launch Robotaxi in the Middle East

HONG KONG, Nov. 10, 2025 /PRNewswire/ — November 10, 2025 – CaoCao Inc. (‘CaoCao’ or the ‘Company’, stock code: 2643.HK), a leading intelligent mobility platform in China, today announced the signing of a Memorandum of Understanding (‘MoU’) with the Abu Dhabi Investment Office (‘ADIO’) at DRIFTx 2025. The strategic partnership will explore the deployment of autonomous taxi (Robotaxi) services and promote green, intelligent mobility solutions in Abu Dhabi. The collaboration marks a significant step in CaoCao’s global expansion and introduces its Robotaxi technology to the Middle East.

CaoCao stands as the primary platform for Geely Holding Group’s Robotaxi commercialization. On February 28, CaoCao launched its autonomous driving platform, ‘CaoCao Intelligent Mobility’, subsequently initiating Robotaxi pilot operations in Hangzhou and Suzhou in China. CaoCao is one of the few mobility companies around the world with three core capabilities in intelligent purpose-built vehicles, autonomous driving technology, and intelligent operation, similar to Tesla’s integrated business model.

Under the MoU, CaoCao and ADIO will collaborate across several key areas, focusing on feasibility studies and pilot projects for Robotaxi services in Abu Dhabi. The partners will work with relevant local authorities to adapt CaoCao’s proven autonomous driving technology and operational expertise from the Chinese market to Abu Dhabi’s smart city transportation framework. The collaboration will also promote green mobility technologies, including electric vehicles and battery-swap models, to facilitate their deep integration into Abu Dhabi’s green energy ecosystem.

To facilitate the collaboration, CaoCao plans to establish a regional office in Abu Dhabi, serving as an operational and collaboration hub for its Middle East business. This office will be central to future testing, localization, and synergy with the local supply chain. Furthermore, the partnership will foster knowledge sharing and talent exchange through cooperation with UAE universities and research institutions, nurturing local expertise in smart mobility. The parties will also engage in policy dialogue to help shape a supportive regulatory framework for autonomous driving in the UAE.

Xin Gong, CEO of CaoCao Inc., commented: “The partnership with ADIO is a key milestone in CaoCao’s global strategy for Robotaxi services. We are confident that by deeply integrating purpose-built vehicles, autonomous driving technology, and efficient platform operations with the superior investment environment and support provided by ADIO, we can offer smarter, greener, and more convenient future mobility services to users in Abu Dhabi and the wider Middle East region.”

H.E. Badr Al-Olama, Director General of the Abu Dhabi Investment Office, said: “Abu Dhabi is revolutionising smart mobility by bringing together global players to showcase their solutions in one of the fastest growing markets in the region. Our collaboration with CaoCao reinforces Abu Dhabi’s strategy to position itself at the forefront of next-generation mobility, diving innovation and investment across the transport ecosystem.”

-ENDS-

About CaoCao Inc.

CaoCao Inc. is a leading intelligent mobility platform in China, incubated by Geely Holding Group. CaoCao upholds the brand proposition of “Serving people’s mobility wholeheartedly” and is committed to building a mobility brand with the best reputation for service. As the largest tech-driven mobility platform on HKEX, CaoCao is not only a pioneer in advanced technology but also a seasoned practitioner with massive operational expertise. By integrating vehicles, autonomous driving technology, and intelligent operation systems, CaoCao offers users a diverse range of options, including ride-hailing, taxis, purpose-built, and premium services. The company remains focused on driving the green and intelligent mobility industry. For more information, visit: www.caocao.com.cn.

About Abu Dhabi Investment Office (ADIO)

The Abu Dhabi Investment Office (ADIO) is the government vehicle responsible for accelerating Abu Dhabi’s growth and enabling the emirate’s economic transformation. Through comprehensive support services, ADIO enables both local and foreign investors to shape industries of the future set to transform liveability, technology, resources, and value-added services. Initiatives focused on regional tourism and retail development, as well as public-private partnerships, ensure that community well-being is at the centre of Abu Dhabi’s economic transformation. With a robust network of investors, strong collaboration with key stakeholders, and a global presence, ADIO is committed to empowering those who invest with Abu Dhabi to make a lasting global impact. For more information, visit: https://www.investinabudhabi.gov.ae.

iTeaworld Launches the World’s First Structured “Yin Zhi” Scented Tea Collections — Reimagining a Millennium-Old Chinese Craft

SHENZHEN, China, Nov. 10, 2025 /PRNewswire/ Following the enthusiastic response to iTeaworld’s Oolong Tea Framework at the 2025 Northwest Tea Festival, iTeaworld now extends its exploration into another essential pillar of Chinese tea culture — the art of Yin Zhi (scenting) with real flowers.

iTeaworld three curated scented tea collections
iTeaworld three curated scented tea collections

Today, iTeaworld announced the launch of three curated collections designed especially for beginners of traditional scented tea, helping global tea enthusiasts gain a clearer and more systematic understanding of China’s classic Yin Zhi craftsmanship. Each tea in the series is scented exclusively with natural fresh blossoms, without the use of artificial flavorings, to present a purer and more authentic floral aroma.

While jasmine tea is widely recognized around the world, the traditional Yin Zhi process behind it remains little known. Many consumers are unaware of why authentic scented tea differs so greatly from flavored or blended teas, or how diverse jasmine tea traditions exist across China. Beyond jasmine, which other flowers can unite with tea through this meticulous craft of layering and infusion?

These long-standing questions have driven iTeaworld to develop its structured scented tea collections.

Yin Zhi: An Ancient Eastern Craft

The history of Chinese scented tea dates back over a thousand years, rooted in the Eastern philosophy of “food as medicine.” For generations, Chinese artisans have cultivated harmony between humans and nature — using flowers to nurture the mind and fragrance to calm the spirit.

This wisdom is embodied in the character “窨 (Yìn),” meaning to let tea leaves rest among layers of fresh blossoms, allowing the scent to slowly infuse the leaf. From the Tang dynasty’s citrus-peel and ginger teas to the Song’s early floral infusions and the Ming’s perfected technique, Yin Zhi evolved as a meditative craft of timing, temperature, and patience. Tea masters layer tea and flowers in ideal conditions, achieving a state of perfect harmony, where tea and flowers become one — tea draws out the flower’s aroma, and flowers enrich the tea’s taste.

Four Dimensions That Define the Soul of Scented Tea

According to iTeaworld, understanding true Yin Zhi flower tea begins with four essential dimensions:

1. Tea Base – Defines the character of the fragrance. The same jasmine blossom expresses a fresh elegance with green tea, or a honeyed warmth with black tea. Tea differences in oxidation and roasting create distinct aroma profiles.
2. Number of Scenting Cycles – The “immersion level” of aroma. From three to nine scentings, each repetition deepens the fragrance and fuses the tea and flower more completely.
3. Flower–Tea Pairing – A perfect match of nature. Jasmine’s clarity, osmanthus’s sweetness, and gardenia’s richness — each flower seeks its ideal tea companion, forming a unique aromatic map.
4. Region of Origin – The flavor’s “birth certificate.” Fuzhou jasmine offers rock-sugar sweetness; Suzhou’s Daidai flower (Citrus × aurantium Amara) bloom twice a year— every terroir leaves its distinctive mark on flavor and fragrance.

Reimagining Floral Tea for Today

To help global tea enthusiasts explore this sensory landscape, iTeaworld has created three curated collections that reinterpret the heritage of Yin Zhi:

This is only the beginning. iTeaworld will soon take tea drinkers on a “virtual journey” across China’s five major scenting regions, revealing how each landscape shapes its tea.

The brand will also launch a Chenpi (Dried Tangerine Peel) Tea Series, including Chenpi White, Black, Ripe Pu-erh, and Liubao teas. In Chinese tradition, Chenpi — aged sun-dried tangerine peel — is known for its soothing aroma and harmonizing qualities, continuing iTeaworld’s philosophy that “fragrance nourishes the heart, and tea nurtures the body.”

From Tasting to Understanding

To help tea lovers not only appreciate but also share their knowledge, iTeaworld has prepared a special gift: The iTeaworld Guide to Chinese Scented Tea.

This illustrated handbook transforms the complex history and craft of flower tea into engaging stories and practical brewing guides. It helps readers easily distinguish Yin Zhi (true scenting) from simple blending or flavoring, and discover their favorite profiles. The guide is complimentary with orders and also available for free download.

This release coincides with iTeaworld’s Black Friday Premium Loose-Leaf Tea Celebration, featuring the debut of the Top Ten Scented Tea Collection and an extended range of premium loose-leaf teas for global tea enthusiasts to explore.

About iTeaworld

Founded in 2009 in the ancient tea gardens of Guilin, iTeaworld is dedicated to sustainability and the storytelling of Chinese tea culture.

What began as a mission to “share good tea with the world” has evolved into a deeper purpose — bridging the global understanding of authentic Chinese tea. From its green tea system to the oolong series celebrated at the Northwest Tea Festival, and now the revival of traditional scented teas, iTeaworld continues to share not just fine tea, but the craftsmanship, terroir, and human warmth behind every leaf.

Website: www.iTeaworld.com
Social Media: LinkedIn|Instagram|Youtube |Facebook|Discord Group
Contact: Yujie Zhang, market@iTeaworld.com 

IBM and Web Summit to Launch Sports Tech Startup Challenge to Fuel Next Wave of Innovation in Sports

  • The IBM & Web Summit Sports Tech Startup Challenge will seek to find game-changing solutions that could be leveraged throughout IBM’s technology portfolio and world-class global sports and entertainment partnership team.
  • Regional startup competitions planned for Qatar, Vancouver, and Rio, leading to the global finale at Web Summit Lisbon 2026.
  • IBM to become the Official AI Partner across all Web Summit 2026 conferences in Qatar, Vancouver, Rio de Janeiro and Lisbon.

LISBON, Portugal, Nov. 10, 2025 /PRNewswire/ — IBM (NYSE: IBM) and Web Summit today unveiled a new global sports-tech competition proposal. The Sports Tech Startup Challenge will spotlight startups using AI to revolutionize sports — from athlete performance and stadium operations to fan engagement — with regional events planned for Qatar, Vancouver, and Rio, culminating with global winners being selected during Web Summit Lisbon 2026. Participation will be subject to local laws and official rules to be published before each regional competition.

(PRNewsFoto/IBM)
(PRNewsFoto/IBM)

As one of the world’s fastest-growing industries, sports entities of all shapes and sizes are racing to better integrate AI, turning to enterprise-grade solutions to boost performance, unlock new revenue, and deliver smarter fan experiences. For more than three decades, IBM has been a trustworthy tech partner to iconic sports organizations including the Masters, Wimbledon, the US Open, Scuderia Ferrari HP, UFC and ESPN Fantasy Football. With the Sports Tech Startup Challenge, IBM will bring this unrivaled expertise to the sports tech startup community for the first time, accelerating innovation at the intersection of AI and sports.

“IBM has spent decades partnering with global sports icons, integrating our technology to redefine how the game is played, watched, and experienced,” said Emily Fontaine, Global Head of Venture Capital at IBM. “With the IBM & Web Summit Sports AI Startup Challenge, we’ll fuse that legacy with the ingenuity of some of world’s best startups, to spark the next era of sports innovation — and write a new playbook for AI-driven growth across the industry.”

The IBM & Web Summit Sports Tech Startup Challenge is expected to unfold over a 12-month cycle, including mini-regional competitions where startups will pitch enterprise-grade AI solutions for the sports and entertainment industry. Pitches will be judged by a slate of industry leaders, including IBM leaders, sports and tech executives, and world class athletes. Regional winners will be showcased live on stage at Lisbon Web Summit 2026 and conclude with the winner selection. Winners may be eligible for the following from IBM: a paid proof of concept valued at up to $100,000 in collaboration with IBM Sports and Entertainment Partnership Team, mentorship from IBM’s world-class experts in tech, innovation, and business development and evaluation for venture funding.

“As one of our long-standing partners, we’re delighted to enter this new phase with IBM,” said Kevin McDonald, Chief Commercial Officer, Web Summit. “We have helped showcase startups over the years which have went on to become some of the world’s biggest companies, such as Revolut, Stripe and Whoop. This partnership highlights the rapid growth of AI in sports tech, fusing the biggest growth sector in tech with the sports that captivate billions worldwide. We look forward to discovering the next big success story together with IBM over the coming 12 months.”

How to Apply
Startups interested in participating in the IBM & Web Summit Sports Tech Startup Challenge will be able to obtain additional information through the dedicated Web Summit Startups portal. Details, including eligibility, deadlines, and selection criteria will be announced on the portal closer to each regional pitch event.

Applicants may begin the process by going to the IBM & Web Summit Sports Tech Startup Challenge portal: https://websummit.com/ibm-ai-startup-challenge/

IBM as Web Summit’s Official 2026 AI Partner
IBM is the Official AI Partner across all Web Summit 2026 conferences in Qatar, Vancouver, Rio de Janeiro and Lisbon and will host a series of on floor activations and curated content programs focused on AI and quantum for businesses.

About IBM
IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information.

About Web Summit
Web Summit is a global technology events company that brings together founders, entrepreneurs, business leaders, and investors to connect and exchange ideas about the technologies and trends shaping the world. Since 2009, Web Summit’s portfolio – including Web Summit in Lisbon, Web Summit Rio in South America, Web Summit Vancouver in North America, and Web Summit Qatar in the Middle East, and RISE in Asia – has attracted nearly one million participants. Its newest event, Web Summit Vancouver, launched in May 2025. To learn more, visit websummit.com and follow Web Summit on LinkedIn.

Media contact:

Web Summit
media@websummit.com

Rebeccah Propp
IBM
Rebeccah.propp@ibm.com

IBM Corporation logo.
IBM Corporation logo.

 

   

Tiumbio to Present First Clinical Data for Dual TGF-β/VEGF Inhibitor Tosposertib (TU2218) at SITC 2025, “Robust Response Rate”

  • 70.6% Partial Response and 82.4% Disease Control Rate Observed in Interim Phase II Data

SEONGNAM, South Korea, Nov. 10, 2025 /PRNewswire/ — On Friday, 7 November (local time) at the Society for Immunotherapy of Cancer (SITC) 2025 annual meeting, Tiumbio Co., Ltd. (KOSDAQ: 321550), a clinical-stage biopharmaceutical company dedicated to developing novel therapies for rare and intractable diseases, today shared the interim Phase II clinical data for its “first-in-class” Tosposertib (TU2218), a dual inhibitor against TGFβ type I receptor (TGFβRI /ALK5) and VEGFR2. The study evaluated Tosposertib in combination with MSD’s Keytruda (pembrolizumab) as a first-line therapy for patients with recurrent/metastatic(r/m) head and neck squamous cell carcinoma (HNSCC).

Tosposertib (TU2218) is a highly potent, oral dual inhibitor designed to block the signaling pathways of transforming growth factor-beta (TGF-β) and vascular endothelial growth factor (VEGF), two critical mediators of tumor growth and metastasis. This novel drug candidate was discovered and developed by Tiumbio to enhance the therapeutic efficacy of immune-oncology agents such as Keytruda.

Hun-Taek Kim, Ph.D., CEO of Tiumbio, stated “The data presented at SITC mark an important milestone, demonstrating that the strong antitumor activity continues to be sustained with accumulating clinical data and ongoing follow-up.” He added, “The combination of Tosposertib (TU2218) and Keytruda has shown meaningful potential and value as an immuno-oncology therapy capable of overcoming the limitations of existing immunotherapies or immunotherapy/chemotherapy combinations in recurrent or metastatic head and neck cancer.”

The company plans to actively advance patient enrollment for the Tosposertib combination therapy and expand its global clinical trial sites to accelerate the studies required for regulatory approval. Through these efforts, the company aims to provide patients with recurrent or metastatic head and neck cancer earlier access to treatment and, in collaboration with global partners, continue to pursue combination trials and broader indication expansion.

Tosposertib (TU2218: TGF-β/VEGF dual inhibitor): Solid Tumors

Poster title: Phase 2 trial of TU2218, TGFβ-RI and VEGF-R2 dual inhibitor in combination with Pembrolizumab in patients with head and neck squamous cell carcinoma (HNSCC)

Observations in the poster presentation include:

  • As of July 31, 2025 data cutoff date, 27 patients (pts) were enrolled
    • The efficacy-evaluable population consisted of 17 patients who had received prior treatments such as surgery, chemotherapy, or radiotherapy.
    • Response rates overall (N=17): 70.6%, including 9 confirmed partial responses (PRs) and 3 unconfirmed PRs by Response Evaluation Criteria in Solid Tumors (RECIST) v1.1. per investigator assessment, including
      • 1L : Response rates overall (N=11) : 72.7% (8/11), including 6 confirmed partial responses (PRs) and 2 unconfirmed PRs
      • 2L+ : Response rates overall (N=6) : 66.7% (4/6), including 3 confirmed partial response (PRs) and 1 unconfirmed PRs
      • Responses observed across PD-L1 levels (CPS 1-19: 66.7% [8/12]; CPS≥20: 80% [4/5])
    • At the time of data cutoff, 17 patients of the 27 enrolled, remained on treatment.
    • Median follow up of 2.6 months for the 27 patients
    • In 27 patients the combination was well tolerated and no significant overlapping toxicities with pembrolizumab were observed.
    • Treatment-emergent adverse events (TEAEs) were reported in 26 pts
      • Most were Grade (G) 1 or 2 in severity (no G5 were observed)
      • G≥3 TEAEs occurred in 11 patients (40.7%)
      • Most common adverse events included rash and mucositis.
      • No cases of major bleeding or cardiovascular toxicities-safety concerns typically associated with VEGF or TGF-β inhibition- were observed

About Tiumbio Co., Ltd.

Tiumbio is dedicated to the discovery and development of innovative therapies that alleviate the burden of serious and debilitating disease. Tiumbio’s mission is to expand hope and improve the quality of life for people through science. For further information, visit our website at www.tiumbio.com/en and connect with us on LinkedIn.

Contacts:

Director Dae-hun Park, Management Office / daehun@tiumbio.com
Manager Hyun-kyoung Kim, Future Growth Team / hyunkyoungkim@tiumbio.com

MicroCloud Hologram Inc. Explores Unlocking the Quantum Codes of Time and Systems

SHENZHEN, China, Nov. 10, 2025 /PRNewswire/ — MicroCloud Hologram Inc. (NASDAQ: HOLO), (“HOLO” or the “Company”), a technology service provider, focuses on conquering deep-level problems in the field of quantum technology, committed to injecting new vitality into global technological development. Among them, innovative research on quantum time and quantum system evolution problems is gradually unveiling a corner of the mysterious veil of the microscopic world, expected to reshape our understanding of the interaction between space-time and matter.

Within the framework of traditional physics, time is often treated as an externally given parameter, like a uniform ruler that ticks away along a predetermined path, marking the sequence of events. HOLO breaks away from conventional thinking and delves into the nature of time at the quantum level. In the model constructed by HOLO, time escapes the confines of a simple parameter and transforms into a dynamic entity represented by quantum operators.

Quantum operators, as the core element in the HOLO model, are analogous to the position operator in quantum mechanics’ Schrödinger representation, showcasing unique multiplicative operator characteristics. The position operator plays a key role in describing the uncertainty of a particle’s spatial position and its probability distribution, drawing an accurate depiction of the particle’s “cloud-like” potential position distribution through complex calculations with the wave function. Similarly, the time quantum operator shatters the rigid, one-way, uniform flow of time in the macroscopic world, instead participating in the evolution of quantum states in an intrinsic manner, closely coupled with the quantum system. Time is no longer a passive recorder isolated from the system, but an organic part of the system’s own properties, intertwined and influencing other quantum observables.

In order to more comprehensively and accurately describe the positional information in quantum spacetime, HOLO introduces the appropriate Positive Operator-Valued Measure (POVM). POVM holds a crucial position in quantum measurement theory, providing a powerful tool to address the uncertainty and probabilistic interpretation of quantum system measurement results. When working in conjunction with the familiar 3D position operator/metric, POVM acts like a precise navigator, not only capable of locating the ‘trajectory’ of microscopic particles in three-dimensional space, but also incorporating the time dimension as a quantum factor, together outlining a unique ‘coordinate’ in quantum spacetime. This means that, within this new theoretical framework, both the ever-changing spatial trajectory of microscopic particles and their subtle evolutionary rhythm in the time dimension can be presented in fine detail, offering a more solid foundation for scientists to delve deeper into the mysteries of the quantum world.

HOLO proposes that quantum evolution is essentially a process. This perspective challenges the traditional notion of partially deterministic evolution in quantum mechanics, pushing the randomness of the quantum world to a new depth. The Lüder projection hypothesis, originally used to explain the phenomenon of state collapse in quantum measurement, emphasizes the discontinuous and probabilistic change in the quantum state due to measurement. HOLO innovatively extends this hypothesis to encompass the spontaneous evolution of quantum systems over time. From this viewpoint, quantum systems no longer evolve along a predetermined, smooth trajectory; instead, at every moment, they face multiple possible ‘branching choices,’ much like being in a quantum maze full of forks, with the path taken governed by probabilistic laws.

HOLO, starting with the development of ultra-precise quantum clocks, aims to surpass the accuracy of any existing timing device, redefining the limits of time measurement. In the field of quantum communication, leveraging a deep understanding of quantum spacetime properties, HOLO seeks to achieve zero-delay and ultra-high security in information transmission. In the realm of quantum computing, it optimizes algorithm design, fully utilizing the random characteristics of quantum evolution to accelerate the solving of complex problems and unlock unprecedented computational power.

About MicroCloud Hologram Inc.

MicroCloud Hologram Inc. (NASDAQ: HOLO) is committed to the research and development and application of holographic technology. Its holographic technology services include holographic light detection and ranging (LiDAR) solutions based on holographic technology, holographic LiDAR point cloud algorithm architecture design, technical holographic imaging solutions, holographic LiDAR sensor chip design, and holographic vehicle intelligent vision technology, providing services to customers offering holographic advanced driving assistance systems (ADAS). MicroCloud Hologram Inc. provides holographic technology services to global customers. MicroCloud Hologram Inc. also provides holographic digital twin technology services and owns proprietary holographic digital twin technology resource libraries. Its holographic digital twin technology resource library utilizes a combination of holographic digital twin software, digital content, space data-driven data science, holographic digital cloud algorithms, and holographic 3D capture technology to capture shapes and objects in 3D holographic form. MicroCloud Hologram Inc. focuses on developments such as quantum computing and quantum holography, with cash reserves exceeding 3 billion RMB, and plans to invest more than 400 million in USD from the cash reserves to engage in blockchain development, quantum computing technology development, quantum holography technology development, and derivatives and technology development in frontier technology fields such as artificial intelligence AR. MicroCloud Hologram Inc.’s goal is to become a global leading quantum holography and quantum computing technology company.

For more information, please visit http://ir.mcholo.com/  

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic; financial condition and results of operations; the expected growth of the holographic industry and business conditions in China and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission (“SEC”), including the Company’s most recently filed Annual Report on Form 10-K and current report on Form 6-K and its subsequent filings. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

As Strategic Technical and Exclusive Apparel Sponsor, Elite Roster of 8 Xtep Athletes Dominates Podium at Standard Chartered Hanoi Marathon 2025

HANOI, Vietnam, Nov. 10, 2025 /PRNewswire/ — On November 9, Xtep’s elite athletes delivered an outstanding performance at the Standard Chartered Heritage Marathon Hanoi 2025, with Duber Abdisa Teshome claiming the men’s marathon title in 02:21:57 and Lema Alemitu Ajema leading a women’s podium sweep with her winning time of 02:40:27. The Ethiopian dominance was further demonstrated by Adula Askale Alemayehu (02:41:37) and Tadese Zeritu Shawel (02:44:56) securing the remaining women’s podium spots. Vietnamese runners also shone brightly, with Phạm Thị Hồng Lệ capturing the national women’s title in 02:53:30, Phạm Đức Thọ earning national men’s bronze in 02:40:01, and Trịnh Quốc Lượng taking half marathon bronze in 01:15:40. As the Strategic Technical and Exclusive Apparel Sponsor, Xtep was there throughout this spectacle, marking its 7th consecutive year supporting the runners in their pursuit of new personal bests.

The outstanding finishing times of Xtep elite runners
The outstanding finishing times of Xtep elite runners

Vietnam’s running scene is booming, with major events now attracting over 20,000 participants and approximately 36% of the population exercising regularly. Through its seven-year partnership, Xtep has identified a pivotal shift: Vietnamese runners are no longer just participating; they are actively pursuing better performance, advanced techniques, and professional-grade equipment. This insight formed the strategic foundation for Xtep’s comprehensively upgraded support system this season.

It began with equipping runners for success, launching the 160X 7.0 series in August to provide elite and ambitious runners with championship-level gear designed to help them achieve their goals. Building on this hardware advantage, Xtep rolled out an integrated promotional campaign, bringing the marathon’s message, “TOGETHER, WE RUN FURTHER” to life through official POP materials and a thematic video. Community activation followed, with the 1st X-RUN CAMP in Hanoi on October 19, where certified coaches trained pacers in critical skills like pace control and endurance management. Further deepening local engagement, the brand collaborated with the XRC Running Club for community training sessions, offering runners of all levels professional guidance and a confidence boost ahead of race day.

The scene of of X-RUN CAMP in October
The scene of of X-RUN CAMP in October

The excitement continued off the course as well. On November 6, Xtep hosted its 1st runner experience session at the AEON Mall Ha Dong store, where elite athletes engaged with the community, sharing course-specific strategies and pacing techniques. The event created a space for genuine community connection and motivation, inspiring runners to set new goals. From November 7 to 9, Xtep’s booth at the Marathon Expo became one of the most popular stops of the weekend, featuring interactive demos and prize giveaways that drew steady crowds and celebrated the joy and community of running.

The Running Friends Gathering at AEON Mall Ha Dong store on November 6th
The Running Friends Gathering at AEON Mall Ha Dong store on November 6th

 

November 7th - 8th, the Standard Chartered Hanoi Marathon Expo Site
November 7th – 8th, the Standard Chartered Hanoi Marathon Expo Site

 

The scene of the Standard Chartered Hanoi Marathon on November 9th
The scene of the Standard Chartered Hanoi Marathon on November 9th

This series of initiatives from training to race-week engagement reflects Xtep’s brand philosophy: “Make It Different.” The brand is squarely focused on serving elite athletes, providing them with the cutting-edge gear and race-ready support needed to compete at their absolute peak. Every innovation is engineered to help these runners break limits, push for the podium, and deliver performances that define their careers.

Throughout its long-term involvement in Vietnam, Xtep has brought substantial value to the running community – from introducing innovative running gear and professional event support to fostering diverse community engagement. The brand has not only witnessed but actively contributed to the evolution of Vietnam’s running culture, helping build a more professional and vibrant running ecosystem. Looking ahead, Xtep will continue to drive innovation across its footwear and apparel lines, contributing to the growth of the local running culture while inspiring more people to move forward through the power of sport.

SKF presents scalable clean technologies and circular solutions at COP30; wins SBCOP’s Best Cases

SKF makes remanufacturing work globally – Winner of SBCOP’s Best Cases

GOTHENBURG, Sweden, Nov. 10, 2025 /PRNewswire/ — At COP30 in Belém, Brazil, SKF will showcase scalable clean technologies and circular solutions to accelerate industrial decarbonization, reaffirming its commitment to innovation, circularity, and responsible growth. As a global leader in bearing and rotating equipment solutions, SKF continues to drive innovation that supports the transition to a net-zero future.

“The COP30 platform emphasizes that collaboration and partnerships are key to the climate transition, and we are proud to contribute with innovative and sustainable solutions that reduce environmental impact while delivering tangible value to industries worldwide,” says Annika Ölme, CTO and Senior Vice President, Technology Development.

Key technologies and initiatives on display will include energy transition, circular economy and materials. Remanufacturing and RecondOil are two examples of how SKF contributes to a circular future. Other solutions that SKF will present at COP30 are:

  • Industrial heat pumps with ceramic and magnetic technologies.
  • Energy-efficient HVAC systems powered by SKF magnetic bearings.
  • Tidal power drivetrains for renewable energy generation.
  • Internal decarbonization programs and a robust investment framework.

SKF wins SBCOP’s Best Cases

At COP30, SKF’s Remanufacturing solutions will be recognized as a winner of SBCOP’s (Sustainable Business COP) Best Cases. This award highlights SKF’s commitment to sustainability and its pioneering efforts in extending product lifecycles, reducing waste, and minimizing carbon emissions through advanced remanufacturing practices.

“At SKF, we demonstrate our credibility and progress on our own science-based net-zero journey, applying the same ambitious standards internally as we advocate for externally. By actively decarbonizing our operations, investing in circularity, and ensuring supply chain transparency, our leadership is built on verifiable action and technological innovation,” says Annika Ölme.

Accelerating industrial decarbonization

SKF’s remanufacturing initiative exemplifies how clean technologies and circular solutions can accelerate industrial decarbonization. Remanufactured bearings perform like new—at a lower cost, with shorter lead times, and a significantly reduced manufacturing CO₂ footprint. The process ensures the same product quality and standards, with no shortcuts.

SKF RecondOil double separation technology (DST) enhances the circularity of industrial oil by regenerating it into a reusable asset, preventing it from aging and eliminating the need for new oil purchases. This reduces waste, cuts emissions, and improves machine performance.

“SKF has consistently driven sustainability through energy-efficient solutions, circularity, and emissions reductions in close collaboration with our customers. COP30 marks a strategic moment for SKF to step forward, share our learnings, and collaborate on global climate solutions,” says Sofie Runius Cederberg, Head of Sustainability.

The agenda and activities where SKF participates at COP30 is available on SKF at COP30: The world can’t afford friction – it’s time to scale what works | SKF

Media:

To book interviews with Annika Ölme, CTO and Senior Vice President, Technology Development, Sofie Runius Cederberg, Head of Sustainability, or other SKF participants at COP30, please contact Karin Markhede on karin.markhede@skf.com

Previous press release on similar topics:
20 October 2025: “SKF at COP30: The world can’t afford friction – it’s time to scale what works” [link]

04 November 2025: “SKF launches The Patent Bay, a platform for sharing technologies that could reduce environmental impact” [link]

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RSPO Urges for Broader Smallholder Inclusion and Increased Technology Adoption

From smallholder financing, ecosystem regeneration to supply chain innovation, the Roundtable on Sustainable Palm Oil (RSPO) annual conference explored scalable solutions to accelerate the palm oil industry’s sustainable transformation.

KUALA LUMPUR, Malaysia, Nov. 10, 2025 /PRNewswire/ — The Annual Roundtable Conference on Sustainable Palm Oil (RT2025) by the Roundtable on Sustainable Palm Oil (RSPO) convened global stakeholders to call for stronger adoption of existing technological and scientific tools to strengthen the quality, productivity, and sustainability of the sector. Experts discussed how smarter data, digitalisation, and diligence can unlock the potential of the industry, drive equity for smallholders and strengthen trade resilience amidst legislative, regulatory and geopolitical disruptions.

RSPO CEO Joseph D'Cruz giving the opening remarks at RT2025
RSPO CEO Joseph D’Cruz giving the opening remarks at RT2025

In a moderated conversation with Professor Simon S.C. Tay, Chairman, Singapore Institute of International Affairs (SIIA), H.E Arif Havas Oegroseno, Vice Minister for Foreign Affairs, Ministry of Foreign Affairs, Republic of Indonesia, highlighted the necessity to respect the balance between environmental issues, social justice, and economic development amidst the challenges of unilateral sustainability expectations in this shifting global landscape. “Even though the world is shaped by regions, trading blocks, and borders, sustainability is universal, and so should standards. Sustainability grows stronger when everyone is included.”

In her keynote address, Dr. Ravigadevi Sambanthamurthi, Chairperson of Biological, Agricultural, and Environmental Sciences Discipline, Academy of Sciences Malaysia, highlighted the role of scientific solutions in advancing the sustainable palm oil sector. “Science has already delivered breakthrough solutions – from DNA testing for seed quality to biomass utilisation in a circular economy – to advance sustainable production. Our greatest challenge today is no longer innovation, it is implementation”. A Fellow of the Royal Society, she called for a unified, industry-wide commitment, stating that technology without take-up was costing the palm oil sector in countries such as Indonesia and Malaysia as much as USD 6 billion and USD 1 billion respectively in oil palm productivity annually, while increasing smallholder vulnerability.

Smallholders spotlight

Smallholder inclusion was a central focus of the three-day dialogue. Despite comprising about 40% of the total oil palm plantation area, smallholders remain marginalised from national, regional and global markets. They face mounting challenges, including a slowdown in demand for smallholder credits, cuts to government budgets for development funding, and disrupted trade relationships caused by shifting tariff policies.

“Smallholders have done the hard work to show they can produce sustainably, proving their commitment through the pursuit of RSPO Certification,” said RSPO CEO, Joseph  D’Cruz. “Yet they are bearing a crushing burden with decreasing support. Their inclusion in the sustainable palm oil supply chain is imperative for transforming the sector.”

A collective voice from large growers to downstream actors, social and environmental NGOs, assurance and financial actors called for more diverse market incentives for RSPO Certified Independent Smallholders (ISH) to access the physical market. Discussions highlighted practical solutions such as price premiums, access to finance, risk-sharing, and long-term contracts, as potential pathways to support smallholder inclusion at a greater scale.

Speaking on behalf of smallholders during the Opening Ceremony, Pedro Seijas Cárdenas, Group Manager of the Peruvian smallholder group, Asociación de Productores Monte Alegre de Neshuya (APROMAN), asserted: “Every credit sold, every hectare certified, and every community strengthened is a reminder that sustainable palm oil is not built in boardrooms, but in the soil, under the sun, in the hands of those who cultivate hope.”

In 2024 alone, 284,188 Independent Smallholders Credits worth US$6.5 million were bought to directly benefit 116 RSPO Certified ISH groups.

Further reinforcing this commitment, a Memorandum of Understanding (MoU) was signed between Malaysia’s National Association of Smallholders (NASH), Asia School of Business (ASB) and RSPO to facilitate smallholder capacity building and access to international sustainable markets.

Certified growth, conservation and evidence-based impact

In the last year, RSPO Certification has expanded to São Tomé and Príncipe and Sri Lanka, bringing the total certified oil palm area to 5.1 million hectares across 24 countries. A total of 425,597 hectares (ha) are now conserved under RSPO Certification – an area 17 times the size of Kuala Lumpur and 29,469 ha of riparian reserves are also set aside for protection.

D’Cruz remarked, “While certification is a milestone achievement, it is only part of the sustainability journey. The world is moving beyond measuring impact in terms of certificates and certified hectares. We must also show our success in terms of resilient communities, protected forests, and empowered farmers. We are shifting from a badge economy to a world that prioritises measurable outcomes and evidence-based impact.”

This approach was exemplified through a MoU signed between Nanjing Hongshan Forest Zoo and RSPO, aimed at promoting biodiversity conservation and sustainable palm oil awareness in China.

RT2025 also honoured members whose work exemplifies sustainable commitments. The RSPO Excellence Awards celebrated outstanding contributions across five categories: PT Dharma Satya Nusantara for Conservation Leadership; Perkumpulan Petani Mitra Harapan for the Smallholder Award; Lestari Capital for Innovation; Wild Asia Group Scheme for Communicating for Good; and AAA Oils & Fats for Shared Responsibility.

About RSPO:
The Roundtable on Sustainable Palm Oil (RSPO) is a global partnership to make palm oil sustainable. Formed in 2004, the RSPO is a multi-stakeholder non-profit organisation that unites members from across the palm oil value chain, including oil palm producers, palm oil processors and traders, consumer goods manufacturers, retailers, banks and investors, environmental or nature conservation non-governmental organisations (NGOs), and social or developmental NGOs.

As a partnership for progress and positive impact, the RSPO facilitates global change to make the production and consumption of palm oil sustainable. To inspire change, we communicate the environmental and social benefits. To make progress, we catalyse collaboration. To provide assurance, we set the standards of certification.

The RSPO is registered as an international association in Zurich, Switzerland, with main offices in Malaysia and Indonesia, and offices in China, Colombia, Netherlands, United Kingdom and the United States.

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