PHOENIX, Ariz., Oct. 1, 2025 /PRNewswire/ — Moatable, Inc. (Pink Limited Market: MTBLY) (“Moatable,” the “Company” or “our”), a leading US-based SaaS company, announced today the preliminary results of its fixed price tender offer (the “Tender Offer”) to repurchase up to 225,000,000 Class A ordinary shares, par value $0.001 per share (“Class A Ordinary Shares”) (including Class A Ordinary Shares represented by American Depositary Shares (the “ADSs”) of the Company, with each ADS representing 45 Class A Ordinary Shares), at a price of $3.00/45 per Class A Ordinary Share (or $3.00 per ADS), net to the seller in cash, less any applicable withholding taxes, without interest, and with respect to ADSs, less a cash distribution fee of $0.05 per ADS accepted for purchase in the Tender Offer that will be paid to Citibank, N.A., the Company’s ADS depositary, using a combination of cash on hand and funds borrowed under  a new $9.75 million senior secured credit facility pursuant to that certain credit agreement, dated as of September 11, 2025, with PNC Bank, National Association, as lender. The Tender Offer expired at 12:00 midnight, New York City time, at the end of the day on September 30, 2025.

Based on the preliminary count by Citibank, N.A., the tender agent for the Tender Offer (the “Tender Agent”), and Maples Fund Services (Cayman) Limited, the transfer agent and registrar of the Company, a total of 85,065,660 Class A Ordinary Shares (including Class A Ordinary Shares represented by ADSs) were properly tendered and not properly withdrawn in the Tender Offer. In accordance with the terms and conditions of the Tender Offer, and based on the preliminary count by the Tender Agent, the Company expects to acquire 85,065,660 Class A Ordinary Shares (including Class A Ordinary Shares represented by ADSs) in the Tender Offer, for an aggregate cost of approximately $5,671,044, excluding all fees and expenses relating to the Tender Offer. The Class A Ordinary Shares (including Class A Ordinary Shares represented by ADSs) to be acquired pursuant to the Tender Offer represent approximately 13.0% of the total number of our outstanding Class A Ordinary Shares and approximately 10.3% of our outstanding share capital.

The number of Class A Ordinary Shares (including Class A Ordinary Shares represented by ADSs) to be purchased in the Tender Offer is preliminary and subject to change. The preliminary information contained in this press release is subject to confirmation by the Tender Agent and assumes proper delivery of all Class A Ordinary Shares (including Class A Ordinary Shares represented by ADSs) tendered. The final number of Class A Ordinary Shares (including Class A Ordinary Shares represented by ADSs) properly tendered and not properly withdrawn and the final number of Class A Ordinary Shares (including Class A Ordinary Shares represented by ADSs) to be purchased will be announced following the completion by the Tender Agent of the confirmation process. Payment for the Class A Ordinary Shares (including Class A Ordinary Shares represented by ADSs) accepted for purchase under the Tender Offer, and return of Class A Ordinary Shares (including Class A Ordinary Shares represented by ADSs) tendered and not purchased, will occur promptly thereafter.

Securityholders, banks and brokers who have any questions regarding the Tender Offer may contact the information agent, Georgeson LLC, by telephone at: (866) 585-6991 (toll-free) or in writing to: 51 West 52nd Street, 6th Floor, New York, NY 10019.

About Moatable Inc.

Moatable, Inc. (Pink Limited Market ink: MTBLY) operates two US-based SaaS businesses including Lofty and Trucker Path. Moatable’s American Depositary Shares, each of which currently represents 45 Class A Ordinary Shares, trade on Pink Limited Market under the symbol “MTBLY”. For more news and information on Moatable, please visit Moatable.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable U.S. securities laws, including statements regarding the Company’s ability to complete the Tender Offer and the expected final number of Class A Ordinary Shares (including Class A Ordinary Shares represented by ADSs) to be purchased pursuant to the Tender Offer. Forward-looking statements may be identified by words such as “seek”, “believe”, “plan”, “estimate”, “anticipate”, “expect”, “intend”, “continue”, “outlook”, “may”, “will”, “should”, look forward” “could”, or “might”, and other similar expressions. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. Factors that could materially affect Moatable’s business and financial results include, but are not limited to, Moatable’s goals and strategies; Moatable’s future business development, financial condition and results of operations; Moatable’s expectations regarding demand for and market acceptance of its services; Moatable’s plans to enhance user experience, infrastructure and service offerings; the expenses and time that deregistration from the U.S. Securities and Exchange Commission (the “SEC”) may require, if Moatable decides to suspend its reporting obligations, and the impact thereof; and the impact of macroeconomic or geopolitical events. Further information regarding these and other risks is included in our most recent Annual Report on Form 10-K and other documents that may be filed with the SEC. All information provided in this press release is as of the date of this press release, and Moatable does not have any intent, and disclaims any obligation, to update the forward-looking information to reflect events that occur, circumstances that exist or changes in our expectations after the date of this press release, except as required by law.

XIAOGAN, China, Sept. 30, 2025 /PRNewswire/ — Recently, new energy technology company CORNEX officially launched its next-generation 588Ah large-capacity energy storage battery cell at a dedicated event. The product was unveiled by the company’s Executive Vice President, Bu Xiangnan, in the presence of CORNEX leadership, industry partners, and media representatives.

The new 588Ah cell itself features a mass energy density of 190Wh/kg and a volume energy density of 419Wh/L, with the company reporting an energy efficiency of 96.5%.

Building on this foundation, CORNEX introduced its 588-CTP2.0 energy storage PACK solution. This design reportedly reduces the variety and quantity of materials by 20%. At the pack level, it achieves a mass energy density of 170Wh/kg and a volume energy density of 285Wh/L. For safety, the PACK incorporates a 1000°C heat-resistant isolation layer to prevent thermal runaway propagation from the cell to the system level. The company also noted that a proprietary “absorption and protection” manufacturing process has increased production efficiency by 35%, boosting its capacity for large-scale delivery.

Complementing the hardware is the new “Transformers” system platform, a highly modular solution designed for flexibility and rapid deployment. The system uses standard containers, such as a 3.13MWh 10-foot unit and a 6.26MWh 20-foot unit, which can be combined like building blocks to meet specific project requirements in power, capacity, and site conditions. This adaptability makes it suitable for diverse applications, including power generation, grid support, and large-scale commercial and industrial use.

According to CORNEX, implementing the “Transformers” platform on a 100-megawatt-scale project can lead to significant savings: a 20% reduction in land footprint, a 27% decrease in the number of BESS, and a reduction in operational costs by over 20%. The launch of this integrated ecosystem—from cell to pack to system—signals CORNEX’s strategic focus on delivering comprehensive, cost-effective solutions for the global energy transition.

In a statement, CORNEX positioned this launch as a key part of its commitment to supporting the global energy transition. The company stated that with its forward-looking technology and manufacturing capabilities, it aims to provide reliable and efficient solutions for building a cleaner and more stable energy future.

KITCHENER, ON, Oct. 1, 2025 /PRNewswire/ — Canadian Solar Inc. (the “Company” or “Canadian Solar”) (NASDAQ: CSIQ) today announced that e-STORAGE, part of the Company’s majority-owned subsidiary CSI Solar Co., Ltd. (“CSI Solar”), has entered into Battery Storage Agreements (BSA) and Long-Term Services Agreements (LTSA) with Aypa Power for the Elora and Hedley battery energy storage projects in Ontario, Canada.

Together, the Elora and Hedley projects will provide 420 MW / 2,122 MWh of new storage capacity to Ontario’s grid, making them among the largest energy storage facilities currently under development in the province. The investments underscore Ontario’s growing role in large-scale storage deployment and highlight continued collaboration between e-STORAGE and Aypa Power to deliver critical energy infrastructure across North America.

Both projects will deploy e-STORAGE’s SolBank product under 20-year LSTAs that include continuous monitoring, preventive maintenance, and performance guarantees. These contracts are structured to ensure high system availability and predictable service revenues over the life of the assets. Delivery is scheduled to commence in the first quarter of 2026, with commercial operation expected in the first half of 2027.

Moe Hajabed, CEO of Aypa Power, commented, “The Elora and Hedley projects represent critical investments in Ontario’s energy system, providing the flexible capacity needed to meet rising demand and maintain a reliable grid. By working with trusted partners and applying the highest standards in performance and safety, we are building assets that deliver lasting value to Ontario’s communities and economy.”

Colin Parkin, President of e-STORAGE, added, “We are proud to expand our partnership with Aypa Power through the Elora and Hedley projects. These projects will provide reliable capacity through the IESO’s Long-Term 1 (“LT1″) Resource Adequacy framework and reaffirm our long-term commitment to the Canadian market.”

About Canadian Solar Inc.

Canadian Solar is one of the world’s largest solar technology and renewable energy companies. Founded in 2001 and headquartered in Kitchener, Ontario, the Company is a leading manufacturer of solar photovoltaic modules; provider of solar energy and battery energy storage solutions; and developer, owner, and operator of utility-scale solar power and battery energy storage projects. Over the past 24 years, Canadian Solar has successfully delivered nearly 165 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar has shipped over 13 GWh of battery energy storage solutions to global markets as of June 30, 2025, boasting a $3 billion contracted backlog as of June 30, 2025. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12 GWp of solar power projects and 6 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 27 GWp of solar and 80 GWh of battery energy storage capacity in various stages of development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

About e-STORAGE

e-STORAGE is a subsidiary of Canadian Solar and a leading company specializing in designing, manufacturing, and integrating battery energy storage systems for utility-scale applications. e-STORAGE offers proprietary battery energy storage solutions, comprehensive EPC services, and innovative solutions aimed at improving grid operations. Currently, e-STORAGE operates fully automated, state-of-the-art manufacturing facilities with an annual battery energy storage system capacity of 10 GWh and battery cell capacity of 3 GWh. For more info, please refer to the Media&PR section of www.csestorage.com and follow our LinkedIn page.

About Aypa Power

Aypa Power, a Blackstone portfolio company, develops, owns, and operates utility-scale energy storage and hybrid renewable energy projects across North America. With 30 projects currently in operation or under construction, and a development pipeline exceeding 22 gigawatts, Aypa delivers solutions that strengthen grid reliability, integrate renewable energy, and reduce dependence on fossil fuels. Aypa has been at the forefront of energy storage development since its first energy storage project came online in 2018. For more information, follow Aypa Power on LinkedIn or visit www.aypapower.com 

Safe Harbor/Forward-Looking Statements

Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the “Safe Harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as “believes,” “expects,” “anticipates,” “intends,” “estimates,” the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business, regulatory and economic conditions and the state of the solar power and battery energy storage market and industry; geopolitical tensions and conflicts, including impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions related to global pandemics; supply chain disruptions; governmental support for the deployment of solar power and battery energy storage; future available supplies of silicon, solar wafers and lithium cells; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as China, the U.S., Europe, Brazil and Japan; changes in effective tax rates; changes in customer order patterns; changes in product mix; changes in corporate responsibility, especially environmental, social and governance (“ESG”) requirements; capacity utilization; level of competition; pricing pressure and declines in or failure to timely adjust average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; the pipeline of projects and timelines related to them; the ability of the parties to optimize value of that pipeline; continued success in technological innovations and delivery of products with the features that customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange and inflation rate fluctuations; litigation and other risks as described in the Company’s filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 30, 2025. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today’s date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.

CANADIAN SOLAR INC. INVESTOR RELATIONS CONTACT
Wina Huang
Investor Relations Canadian Solar Inc.
investor@canadiansolar.com 

e-STORAGE MEDIA CONTACT
marketing@csisolar.com 

AYPA POWER MEDIA CONTACT
communications@aypa.com

WUXI, China, Oct. 1, 2025 /PRNewswire/ — Mingteng International Corporation Inc. (the “Company” or “Mingteng International”) (Nasdaq: MTEN), an automotive mold developer and supplier in China, today announced its unaudited financial results for the first half of fiscal year 2025 ended June 30, 2025.

Mr. Yingkai Xu, Chairman and Chief Executive Officer of Mingteng International, remarked, “In the first half of fiscal year 2025, we adopted a balanced and agile strategy to navigate market volatility and emerging trends. This included expanding our operations of machining services to diversify our revenue streams, while maintaining relationships with our long-term customers and expanding further in the mold market. Revenue from mold production grew steadily by 9.7%, while our machining services segment maintained the momentum with a 39.1% increase in revenue and a 19.0% rise in gross profit. This reinforced the machining service’s position as our second-largest revenue contributor and helped drive total revenue growth of 13.2%, despite challenging industry conditions.”

With greater production capacity and a stronger workforce, we are now better positioned to pursue complex, customized, and longer-cycle products that command premium pricing and open new opportunities for value-added services. We expect this enhanced productivity to further strengthen our competitive edge in an increasingly competitive environment.

At the same time, we have continued to invest in advancing our technologies. Our research and development (R&D) spending rose 42.1%, underscoring our long-term commitment to innovation as a core pillar of our business.

Looking ahead, we believe our current strategy, combined with our focus on innovation, will continue to provide a solid foundation for sustainable growth and value creation, even in a macro environment shaped by both headwinds and tailwinds.”

First Half of Fiscal Year 2025 Financial Summary

Total revenue was $5.26 million for the first half of fiscal year 2025, an increase of 13.2% from $4.65 million for the same period of last year.

Gross profit was $1.47 million for the first half of fiscal year 2025, compared to $1.65 million for the same period of last year.

Gross margin was 27.9% for the first half of fiscal year 2025, compared to 35.5% for the same period of last year.

Net loss was $1.36 million for the first half of fiscal year 2025, compared to $0.27 million for the same period of last year.

Basic and diluted losses per share were $0.20 for the first half of fiscal year 2025, compared to $0.05 for the same period of last year.

First Half of Fiscal Year 2025 Financial Results

Revenues

Total revenue was $5.26 million for the first half of fiscal year 2025, an increase of 13.2% from $4.65 million for the same period of last year. After consideration of the impact of rising exchange rates, total revenue increased by 14.5% or $4.8 million in RMB base currency.

Revenue from mold production was $3.63 million for the first half of fiscal year 2025, an increase of 9.7% from $3.31 million for the same period of last year. This indicates that Wuxi Mingteng Mould Technology Co., Ltd. (“Wuxi Mingteng Mould”) maintains long-term relationships with major customers and continues to open up the mold market in fiscal year 2025.

Revenue from mold repair was $0.49 million for the first half of fiscal year 2025, a decrease of 5.2% from $0.52 million for the same period of last year. The decrease is attributable to an economic downturn in the market, compelling the Company to maintain its business by reducing prices. 

Revenue from machining services was $1.14 million for the first half of fiscal year 2025, an increase of 39.1% from $0.82 million for the same period of last year. The increase was mainly attributed to the Company’s commencement of a new machining business operation, which requires the supply of raw materials. The complexity of this operation contributed to an increase in revenue.

Cost of Revenues

Cost of revenues was $3.79 million for the first half of fiscal year 2025, an increase of 26.7% from $3.00 million for the same period of last year. The increase was mainly due to the increase in outside processing services, labor cost and manufacturing costs.

The reasons for the cost increase much more than revenue are as follows:

Firstly, the increase in material costs. Due to the change in the sales model for machining services for the first half of fiscal year 2025, the Company now provides the processing materials, which has resulted in an additional material cost of $163,642 compared for the same period of last year.

Secondly, the headcount of production workers increased from 124 to 136 for the first half of fiscal year 2025, with the average monthly wage also rising by $124 per person. Labor costs have increased overall $112,089 compared for the same period of last year.

Lastly, the customized nature of the products led to more complex manufacturing techniques, which extended the processing time and consequently increased direct processing costs by $493,423 for the first half of fiscal year 2025.

Gross Profit and Gross Margin

Gross profit was $1.47 million for the first half of fiscal year 2025, a decrease of 11.1% from $1.65 million for the same period of last year. Gross margin was 27.9% for the first half of fiscal year 2025, compared to 35.5% for the same period of last year.

Gross margins for mold production, mold repair and machining services were 25.6%, 56.2%, and 23.1%, respectively, for the first half of fiscal year 2025, compared to 33.8%, 59.9%, and 27.0%, respectively, for the same period of last year.

Operating Expenses

Operating expenses were $1.47 million for the first half of fiscal year 2025, a decrease of 23.9% from $1.93 million for the same period of last year.

Selling expenses were $53,764 for the first half of fiscal year 2025, a decrease of 57.2% from $125,535 for the same period of last year. The decrease was primarily due to lower promotion and publicity expenses.

General and administrative expenses were $1.00 million for the first half of fiscal year 2025, a decrease of 33.7% from $1.51 million for the same period of last year. The decrease was mainly due to the decrease of consulting and professional fee for the first half of fiscal year 2025 by $0.63 million compared with the same period of last year. The Company paid large amount of consulting and professional fees for the Initial Public Offering(“IPO”) in April 2024, while such decrease was partially offset by the increase in the staff costs by $0.09 million due to the increased number of employees.

Research and development expenses were $409,623 for the first half of fiscal year 2025, an increase of 42.1% from $288,182 for the same period of last year. The increase is mainly attributable to, a) increase in labor expenses by $118,914 for the first half of fiscal year 2025 due to the increased number of employees involved in R&D work and the increase in average salary; b) increase in the depreciation expense increased by $1,365 for the first half of fiscal year 2025 compared with the same period of last year.

Net Loss

Net loss was $1.36 million for the first half of fiscal year 2025, compared to $0.27 million for the same period of last year.

Basic and Diluted Losses per Share

Basic and diluted losses per share were $0.20 for the first half of fiscal year 2025, compared to $0.05 for the same period of last year.

Financial Condition

As of June 30, 2025, the Company had cash and cash equivalents of $1.76 million, compared to $2.08 million as of December 31, 2024.

Net cash used in operating activities was $0.23 million for the first half of fiscal year 2025, compared to $0.66 million for the same period of last year.

Net cash used in investing activities was $0.30 million for the first half of fiscal year 2025, compared to $3.16 million for the same period of last year.

Net cash provided by financing activities was $0.19 million for the first half of fiscal year 2025, compared to $4.15 million for the same period of last year.

About Mingteng International Corporation Inc.

Based in China, Mingteng International Corporation Inc. is an automotive mold developer and supplier that focuses on molds used in auto parts. The Company provides customers with comprehensive and personalized mold services, covering mold design and development, mold production, assembly, testing, repair and after-sales service. With its production plant located in Wuxi, China, the Company aims to build a systematic solution for automobile mold services and create a personalized and integrated “Turnkey Project” for customers. The Company’s main products are casting molds for turbocharger systems, braking systems, steering and differential system, and other automotive system parts. The Company also produces molds for new energy electric vehicle motor drive systems, battery pack systems, and engineering hydraulic components, which are widely used in automobile, construction machinery and other manufacturing industries. For more information, please visit the Company’s website: https://ir.wxmtmj.cn/.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct. The Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to read the risk factors contained in the Company’s final prospectus and other reports it files with the SEC before making any investment decisions regarding the Company’s securities. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.

For investor and media inquiries, please contact:

Mingteng International Corporation Inc.
Investor Relations Department
Email: ir@wxmtmj.cn 

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com