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Datasea Reports Record Fiscal Year 2025 Revenue of $71.62 Million, Up 199% Year-over-Year

DTSS Achieves Fourth Quarter Net Income Breakeven Driven by
Cutting-Edge Acoustics and AI Multimodal Digitalization; 
Ongoing Commercialization Updates in the Coming Weeks

BEIJING, Sept. 26, 2025 /PRNewswire/ — Datasea Inc. (NASDAQ: DTSS) (“Datasea” or the “Company”), a Nevada-based high-tech enterprise engaged in acoustic high-tech products and services and AI multimodal digitalization, today announced its financial results for the fiscal year ended June 30, 2025.

The Company reported record revenue of $71.62 million, an increase of 198.7% from $23.97 million in fiscal year 2024. Gross profit reached $2.44 million, up 415.5% from $0.47 million year-over-year. In the fourth quarter of fiscal year 2025, the Company achieved net income breakeven as adjusted for non-cash depreciation and amortization.

Management Commentary

Ms. Zhixin Liu, Chief Executive Officer of Datasea, stated, “Our operating and financial results for fiscal year 2025 represents a milestone in Datasea’s corporate growth. We nearly tripled our revenue due to the success of our dual-engine business segments of AI multimodal digitalization and acoustic high-tech. Further, in the fourth quarter, we achieved adjusted net income breakeven for the first time, signaling a transition from building scale to achieving profitability and sustainable growth.”

“On the business side, AI Multimodal Digitalization continues to expand through long-term customer contracts, while Acoustic + AI Solutions achieved significant progress, especially in delivering comprehensive solutions. These results reflect recognition from the marketplace as well as the resilience and viability of our innovation-driven business model. We believe that we have established a solid foundation for achieving long-term goals and maximizing shareholder value.”

Fiscal Year 2025 Financial Highlights

  • Revenue: $71.62 million, an increase of 198.7% compared to $23.97 million for fiscal year 2024, through innovative technology and cost advantages in AI multimodal digitalization, a stable client base, and scaled growth that minimizes costs and increases margins.
  • Gross Profit: $2.44 million, an increase of 415.5% compared to $0.47 million in fiscal year 2024, with gross margin improvement primarily attributable to the delivery of highly effective margin solutions in our core businesses.
  • Net Income: Breakeven in the fourth quarter of fiscal 2025, as adjusted for non-cash amortization and depreciation. Net loss for the year was $5.09 million compared to $15.7 in fiscal year 2024, a year-over-year decrease of 67.6%.
  • Intangible Assets: $3.50 million, an increase of 540.3% from $0.55 million in the prior year, mainly due to significant growth in the value of core intellectual property, such as patents, which reflect the success of the Company’s “asset-light, high-value” strategic transformation.

Business Highlights

AI Multimodal Digitalization Segment

  • As one of the Company’s core businesses, AI multimodal services delivered strong growth in fiscal year 2025 with revenue increasing by 199.49% year-over-year to $70.68 million, contributing significantly to overall performance.
  • Powered by its proprietary AI platform, the Company provided standardized platform offerings and customized solutions for clients across numerous industries.
  • Newly developed high-margin customized solutions including SME services, digital rural platforms, and new media marketing systems, were commercialized at scale, contributing revenue of approximately RMB 8.9 million (US$ 1.24 million) and emerged as a new driver of growth.
  • The number of core clients increased from eight to 15 large enterprises with several clients contributing over $10 million in annual revenue.

Acoustic High-Tech Segment

  • Positioned ‘Acoustics + AI + Application Scenarios’ with AI embedded acoustic technologies serving as a technical base for an array of products and services spanning multiple industry sectors.
  • Continuous technological breakthroughs and scenario implementations advanced the Company’s R&D in ‘Acoustics + Neuro-Regulation,’ with progress achieved in brain-computer interfaces, cardiac signal intervention, and foot acupoint stimulation.
  • The Company recorded revenue of RMB 3.7 million (US$ 0.5 million) from comprehensive acoustic solutions, marking a strategic shift from single hardware sales to high-margin solution products and services.
  • Beyond traditional enterprises and retail clients, the Company expanded its base and deployed its acoustic products into 463 beauty and health stores, evolving beyond its B2C focus and building a robust B2B sales network.

Business Outlook

Looking ahead to fiscal year 2026 and beyond, Datasea will continue to advance its dual growth engines of AI Multimodal Digitalization + Acoustic High-Tech to drive diversified high-tech growth:

  1. The Deepening of the AI Multimodal Platform
    As a pioneer in China’s AI multimodal digital field, Datasea will continue to upgrade its proprietary AI multimodal platform, focusing on delivering more high-margin solutions in SME digitalization and new media marketing, and expanding recurring revenue from ‘SaaS Subscriptions + Customized Solutions’.
  2. Acoustic Empowerment in Healthcare
    In acoustics, the Company will accelerate R&D in ‘acoustics + neuro-regulation’, advancing applications in brain-computer interfaces, neural signal intervention, and foot stimulation. Combined with its retail presence in over 500 beauty and health stores across China, Datasea aims to build a closed-loop system of ‘Detection – Analysis – Diagnosis – Intervention’ for non-pharmacological health management. The Company has also entered the health intelligent wearables market, further extending the depth and diversity of acoustic applications in healthcare.
  3. M&A Strategy
    In China, Datasea will seek to promote acoustic product penetration into the healthcare, medical beauty, agriculture, and industrial fields, and accelerate its capabilities and market channels through acquisitions. In the United States, through its wholly owned subsidiary, Datasea Acoustics LLC, the Company is planned in promoting the distribution of acoustic products and patent deployment, and is working with US partners to expand local channels. Internationally, the Company will advance patent collaboration and technology acquisitions with partners in North America, creating dual barriers of global patent protection and market penetration.

About Datasea Inc.

Datasea Inc. (“Datasea”) is a leading provider of products, services, and solutions for enterprise and retail customers in two innovative industries, acoustic high tech and 5G-AI multimodal digitalization. The Company’s advanced R&D technology serves as the core infrastructure and backbone for its products. Its 5G multimodal digital segment operates on a cloud platform based on AI. Datasea leverages cutting-edge technologies, precision manufacturing, and ultrasonic, infrasound and directional sound technology in its acoustics business to combat viruses and prevent human infections, and it is also developing applications in medical ultrasonic cosmetology. In July 2023, Datasea established a wholly-owned subsidiary, Datasea Acoustics LLC, in Delaware, in a strategic move to enter the U.S. markets and to mark its global expansion plan. For additional information, please visit www.dataseainc.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will”, “expects”, “anticipates”, “future”, “intends”, “plans”, “believes”, “estimates”, “target”, “going forward”, “outlook,” “objective” and similar terms. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and which are beyond Datasea’s control, which may cause Datasea’s actual results, performance or achievements (including the RMB/USD value of its anticipated benefit to Datasea as described herein) to differ materially and in an adverse manner from anticipated results contained or implied in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in Datasea’s filings with the SEC, which are available at www.sec.gov. Datasea does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

FINANCIAL TABLES TO FOLLOW

DATASEA INC.

CONSOLIDATED BALANCE SHEETS

June 30,
2025

June 30,
2024

ASSETS

CURRENT ASSETS

Cash

$

620,807

$

181,262

Accounts receivable

1,374,180

718,546

Inventory, net

206,610

153,583

Value-added tax prepayment

137,025

107,545

Prepaid expenses and other current assets

583,650

1,486,956

     Total current assets

2,922,272

2,647,892

NONCURRENT ASSETS

Property and equipment, net

25,560

48,466

Intangible assets, net

3,495,984

546,001

Right-of-use assets, net

292,065

49,345

     Total noncurrent assets

3,813,609

643,812

TOTAL ASSETS

$

6,735,881

$

3,291,704

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES

Accounts payable

$

420,038

$

1,075,641

Unearned revenue

150,088

49,239

Accrued expenses and other payables

547,706

596,714

Due to related parties

6,126

654,560

Operating lease liabilities

128,525

53,530

Bank loan payable

2,374,767

1,170,298

     Total current liabilities

3,627,250

3,599,982

NONCURRENT LIABILITIES

Operating lease liabilities

166,436

–

     Total noncurrent liabilities

166,436

–

TOTAL LIABILITIES

3,793,686

3,599,982

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS’ EQUITY (DEFICIT)

Common stock, $0.001 par value, 25,000,000 shares authorized,
     8,128,127 and 3,589,620 shares issued and outstanding as of June 30,
     2025 and 2024, respectively

8,128

3,589

Additional paid-in capital

47,331,510

38,957,780

Accumulated comprehensive income

138,586

242,208

Accumulated deficit

(44,526,016)

(39,440,322)

     TOTAL COMPANY STOCKHOLDERS’ EQUITY (DEFICIT)

2,952,208

(236,745)

     Noncontrolling interest

(10,013)

(71,533)

     TOTAL STOCKHOLDERS’ EQUITY (DEFICIT)

2,942,195

(308,278)

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
(DEFICIT)

$

6,735,881

$

3,291,704

The accompanying notes in the Company’s 10-K as filed with the SEC are an integral part of these
consolidated financial statements.

 

DATASEA INC.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

YEARS ENDED
JUNE 30,

2025

2024

Revenues

$

71,616,820

$

23,975,867

Cost of revenues

69,172,872

23,501,762

Gross profit

2,443,948

474,105

Operating expenses

Selling

1,980,224

3,279,627

General and administrative

4,703,443

8,960,523

Research and development

914,996

359,342

Total operating expenses

7,598,663

12,599,492

Loss from operations

(5,154,715)

(12,125,387)

Non-operating income (expenses)

Other income (expenses), net

70,169

(97,893)

Interest income

5,016

1,975

Total non-operating income (expenses), net

75,185

(95,918)

Loss before income tax

(5,079,530)

(12,221,305)

Income tax

6,596

–

Loss before noncontrolling interest from continuing operations

(5,086,126)

(12,221,305)

Income before noncontrolling interest from discontinued operations

–

833,546

Less: loss attributable to noncontrolling interest from continuing
operations

(432)

(10,695)

Less: loss attributable to noncontrolling interest from discontinued
operations

–

–

Net loss attribute to noncontrolling interest

(432)

(10,695)

Net loss to the Company from continuing operations

(5,085,694)

(12,210,610)

Net income to the Company from discontinued operations

–

833,546

Net loss to the Company

(5,085,694)

(11,377,064)

Other comprehensive item

Foreign currency translation gain (loss) attributable to the Company

(103,622)

(151,044)

Foreign currency translation gain attributable to noncontrolling interest

60,588

10

Comprehensive loss attributable to the Company

$

(5,189,316)

$

(11,528,108)

Comprehensive income attributable to noncontrolling interest

$

60,156

$

(10,685)

Basic and diluted net loss per share

$

(0.77)

$

(4.38)

Weighted average shares used for computing basic and diluted loss per
share *

6,610,842

2,597,077

*     retroactively reflect 1-for-15 reverse stock split effective on January 19, 2024

The accompanying notes the Company’s 10-K as filed with the SEC are an integral part of these
consolidated financial statements.

 

 

DATASEA INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

YEARS ENDED
JUNE 30,

2025

2024

Cash flows from operating activities:

Loss including noncontrolling interest

$

(5,086,126)

$

(11,387,759)

Adjustments to reconcile loss including noncontrolling interest to net
     cash used in operating activities:

Gain on disposal of subsidiary

–

(833,546)

Bad debt expense

18,855

–

Inventory impairment

99,478

–

Depreciation and amortization

1,139,264

494,480

Loss on disposal of fixed assets

17,196

2,979

Operating lease expense

136,506

167,969

Investment loss

–

56,081

Loan forgiveness by shareholder

105,356

–

Stock compensation expense

1,892,842

6,749,326

Changes in assets and liabilities:

     Accounts receivable

(658,711)

(717,220)

     Inventory

(153,179)

91,076

     Value-added tax prepayment

(29,953)

(51,078)

     Prepaid expenses and other current assets

877,711

(810,421)

     Accounts payable

(651,887)

597,744

     Unearned revenue

101,051

(472,584)

     Accrued expenses and other payables

(45,306)

(108,736)

     Payment on operating lease liabilities

(137,777)

(177,194)

Net cash used in operating activities

(2,374,680)

(6,398,883)

Cash flows from investing activities:

     Acquisition of property and equipment

(8,129)

(6,868)

     Acquisition of intangible assets

(4,077,068)

(161,054)

     Cash disposed due to disposal of subsidiary

–

(35)

Net cash used in investing activities

(4,085,197)

(167,957)

Cash flows from financing activities:

     Proceeds from (repayment to) related parties

(203,218)

360,804

     Proceeds from loan payables

2,374,350

–

     Repayment of loan payables

(1,164,895)

(1,582,513)

     Net proceeds from issuance of common stock

5,939,133

8,061,286

Net cash provided by financing activities

6,945,370

6,839,577

Effect of exchange rate changes on cash

(45,948)

(111,203)

Net increase in cash

439,545

161,534

The accompanying notes the Company’s 10-K as filed with the SEC are an integral part of these
consolidated financial statements.

 

Investor and Media Contact: 

Datasea Investor Relations
Email:  investorrelations@shuhaixinxi.com 
             sunhezhi@shuhaixinxi.com 

Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
david.rudnick@preceptir.com

NYSE Content Advisory: Pre-Market Update + Wall Street digests August PCE data

NEW YORK, Sept. 26, 2025 /PRNewswire/ — The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today’s NYSE Pre-market update for market insights before trading begins. 

 

NYSE Content Advisory: Pre-Market Update + Wall Street digests August PCE data

Ashley Mastronardi delivers the pre-market update on September 26th

  • Stocks are mixed after investors received key economic data earlier this morning. The PCE came out today ahead of market open. Economists estimated headline PCE to show a 2.7% increase year-over-year.
  • According to the latest data, over 60% of traders anticipate we’ll see two additional interest rate cuts before the end of the year.
  • President Trump announced Thursday that new tariffs on pharmaceuticals, heavy trucks, and furniture entering the country, including a 100% tariff on patented drugs, will take effect on October 1st.

Opening Bell
Pearson (NYSE: PSO) celebrates the 25th anniversary of listing

Closing Bell
Ronald McDonald House NY celebrates National Go Gold Day

Click here to download the NYSE TV App

Video – https://mma.prnasia.com/media2/2783031/NYSE_Market_Update_September_26.mp4 

 

Bybit Brings Back Daily Treasure Hunt With October’s “Hot Token Rush”

DUBAI, UAE, Sept. 26, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is bringing back its fan-favorite Daily Treasure Hunt this October, giving users new ways to play, trade and win with the latest edition, Hot Token Rush.

The Daily Treasure Hunt series has become one of Bybit’s most popular community campaigns, drawing traders worldwide with its mix of challenges, scratch card prizes and exclusive rewards. Previous editions featured weekly leaderboards and high-demand gifts ranging from token airdrops to tech gadgets, with tens of thousands of participants taking part.

This October, Bybit says the hunt will be bigger than ever. Running from Sept. 28 through Oct. 27, with pre-registration open until Sept. 28, the event introduces upgraded prize pools, streamlined point collection and expanded reward options.

October highlights include:

  • Reward upgrades: Hot coins will be continuously added to the prize pool.
  • Scratch Card feature upgraded: Points needed per card cut in half, now requiring just 50 points, with chances to win up to 1,000 USDT in token airdrops.
  • New point-earning methods: Friend invitations now grant 10 points each — up from one point previously — with rewards capped at 20 invitations.
  • Weekly bonus tasks: Completing three days of trading tasks each week earns an additional 30 points.
  • Seamless task completion: Limited-time tasks can now fulfill trading requirements for daily cycle tasks, allowing multiple points to be claimed at once.
  • Trading bot integration: Participants can create DCA (Dollar Cost Average) trading bots and interact with TradeGPT for added opportunities. Trading bot integration on Bybit makes it easy for participants to set up a DCA strategy with just a few steps. To begin, users simply select their preferred currency and choose the cryptocurrencies they wish to invest in. Next, they set their desired investment frequency, allowing the bot to automatically purchase assets at regular intervals, helping to minimize the impact of market volatility. Once configured, the DCA bot will handle auto-investing 24/7, giving traders a smarter and more disciplined way to build their portfolios. Combined with TradeGPT insights, this integration unlocks even more opportunities for users to customize strategies and maximize potential gains while maintaining full automation and control.
  • Engagement tasks retained: Popular activities such as following, sharing, learning and browsing remain part of the points system.

These updates come alongside other enhancements, including a boosted Scratch Fun prize pool of more than 200,000 USDT, an expanded reward pool in Points Plaza totaling 300,000 USDT and daily chances to win up to 1,000 USDT instantly.

The October edition highlights Bybit’s commitment to ‘keeping the thrill alive’ while giving participants greater flexibility in how they play and earn.

Disclaimer
Eligibility requires identity verification, and participation is restricted in certain jurisdictions, including the European Economic Area. Full details, including restrictions and terms of participation, are outlined in the official Terms and Conditions.

#Bybit / #TheCryptoArk

Bybit Brings Back Daily Treasure Hunt With October’s “Hot Token Rush”
Bybit Brings Back Daily Treasure Hunt With October’s “Hot Token Rush”

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press

For media inquiries, please contact: media@bybit.com

For updates, please follow: Bybit’s Communities and Social Media

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COREE Announces Discovery of Microbiome Biomarkers Specific to Diabetes and Obesity Patients

  • Joint research achievement by Gemelli Hospital in Rome, COREE, COREE Pohang, and the Università Cattolica del Sacro Cuore

SEOUL, South Korea, Sept. 26, 2025 /PRNewswire/ — COREE announced on September 15 that it had, for the first time in the world, identified microbiome biomarkers specific to diabetes and obesity patients, in collaboration with Italian research teams. The company is led by Chairman Chong-Yoon Lim, who is also the largest shareholder of Dx&Vx.

The announcement was made at the 38th Annual Workshop of the European Helicobacter & Microbiota Study Group (EHMSG), held in Rome, Italy, from September 11 to 13. EHMSG, a prestigious academic platform with over 30 years of history, is an international venue where the latest findings in Helicobacter pylori and microbiome research are presented each year. This year’s workshop brought together more than 500 researchers and clinicians from around the world.

COREE participated as an official sponsor of the event, with Chairman Chong-Yoon Lim, CEO Sung-Jun Han, Professor Dae-Hee Kang of Seoul National University, Professor In-Taek Lim of the Catholic University of Korea, and about 30 other Korean scientists in attendance as part of the Future Medical Innovation Forum.

At the workshop, Professor Lorenza Putignani of Sapienza University of Rome and Gemelli Hospital presented the results of a clinical study jointly conducted by Gemelli Hospital, COREE, COREE Pohang, and the Università Cattolica del Sacro Cuore. The study analyzed clinical samples from 93 patients with obesity or type 2 diabetes and 45 healthy controls, successfully identifying for the first time worldwide microbiome distribution patterns unique to these patients.

The research involved metagenomic analysis of stool and saliva samples. Findings showed that the gut microbiome diversity of obese patients was significantly reduced compared to healthy controls. Specific bacterial groups such as Clostridium sp. Q and “CAG-74” were highlighted as potential biomarkers capable of distinguishing patient groups. In type 2 diabetes patients, differences in oral microbiome distribution were observed, with Parvimonas and Aggregatibacter identified as potential biomarkers.

COREE explained that the study is not just a scientific discovery but also a critical foundation for future diagnostic platforms, new drug development, and fecal microbiota transplantation (FMT).

Sung-Jun Han, CEO of COREE, stated, “This is the first time globally that statistically significant microbiome characteristics specific to diabetes and obesity patients have been identified. With further research, these biomarkers could be developed for early diagnosis and prediction of treatment response.”

The company emphasized that this achievement provides a clear roadmap for its future growth areas in diagnostics, therapeutics, and FMT solutions.

The academic exchange extended beyond diabetes and obesity research, highlighting broader public health challenges shared by both Italy and Korea. Both countries face extremely low birth rates and rapidly aging populations, making child and senior health critical national priorities.

Dr. In-Taek Lim, former Assistant Minister for Health of the Korea Ministry of Health and Welfare, and now Research Professor at the Catholic University of korea, Graduate School of Public Health and Healthcare Management, commented:

“Both Korea and Italy are confronted with structural challenges of low fertility and rapid aging. This joint research marks an important starting point for future academic and industrial collaborations aimed at tackling common health issues across generations, particularly children and the elderly.”

Building on this study, COREE and Gemelli Hospital underscored the importance of expanded research into pediatric and adolescent microbiome health as well as preventive strategies for age-related diseases. Future directions will include initiatives to strengthen maternal and child health as part of efforts to overcome declining birth rates, along with the development of tailored preventive medicine strategies for the elderly.

Professor Dae-Hee Kang of Seoul National University’s Department of Preventive Medicine added:

“This achievement serves as a source of great inspiration not only to Korean scientists but also to the global research community. It demonstrates the potential of Helicobacter and microbiome research to evolve into a new therapeutic paradigm.”

Meet INSEAD AI50 – An alumni-led recognition of global AI builders

Independent recognition of INSEAD community advancing AI with real-world impact  across industries, regions, roles and sectors.

SINGAPORE, SAN FRANCISCO and FONTAINEBLEAU, France, Sept. 26, 2025 /PRNewswire/ — The INSEAD AI 50, an alum-led initiative, today announced its inaugural list recognizing 50 members of the INSEAD community who are shaping artificial intelligence across finance, healthcare, retail, climate, industrials, media and the public sector. Honorees hail from North America, Europe, the Middle East and Asia, reflecting the school’s 170+ nationalities and presence in nearly 180 countries. Honorees include founders, executives, board leaders, researchers and educators who turn AI from research into responsible, scaled deployment. Anyone can view the INSEAD AI 50 at INSEADAI50.com. 

Meet the INSEAD AI 50 (Alum-led)
Meet the INSEAD AI 50 (Alum-led)

“INSEAD leaders focus on tangible outcomes customers can feel. They build, deploy, govern and iterate. This list highlights leaders who turn models into products and products into businesses,” said Robert Maciejko, co-founder of the INSEAD AI (alum-led) community and one of the organizers of the INSEAD AI 50.

“AI is moving from hype to execution at remarkable speed. Our global community of leaders, across startups, corporates and institutions, forms a network of learners who help each other cut through the noise and truly understand AI. We are independent and international, with a simple goal: enabling leaders to apply AI effectively, responsibly and at scale,” said Fabio Valle, co-founder of the INSEAD AI (alum-led) community and one of the organizers of the INSEAD AI 50.

Why the INSEAD Network Matters

This alumni initiative builds on the strength of the INSEAD network: one school with a global footprint across Europe, Asia, the Middle East and the INSEAD San Francisco Hub that connects the community to the Bay Area ecosystem.

The network includes 70,000+ alumni representing 170+ nationalities in nearly 180 countries. Entrepreneurship is part of the culture. In recent alumni research, 73% of surveyed students and graduates embarked on entrepreneurial ventures after INSEAD. The school is the No. 1 international MBA in Poets&Quants’ 2024–2025 ranking and No. 2 on LinkedIn among all MBA programs, reflecting strong career outcomes and network reach. INSEAD has been an early mover in AI executive education, with faculty translating rigorous research into practical programs for leaders.

“At INSEAD, our mission is to develop responsible leaders who transform business and society. It is inspiring to see our faculty and alumni working together to turn AI insight and capabilities into real-world impact. Their efforts reflect the values that connect INSEAD community worldwide,” said Francisco Veloso, Dean of INSEAD.

What the INSEAD AI 50 recognizes

Selection emphasizes four criteria:

1. real-world outcomes and adoption

2. innovation in product, science or go-to-market

3. leadership and responsible use

4. potential to scale globally

The list is global by design and spans startups, public companies and academia, with selection weighted toward real-world deployment. Honorees this year include leaders based in the United States, France, the United Arab Emirates, Singapore, India, the United Kingdom, the Netherlands, Germany, Israel, Canada, Switzerland, Sweden, and China.

Examples include a US developer platform rolling out AI coding copilots to over 100 million developers, a European semiconductor equipment leader using AI to lift lithography yields that power global compute, and an Indian agentic-AI startup turning a “don’t try to out-train foundation models” comment from Sam Altman into production-grade enterprise agents. Governments and healthcare are moving too, with a national digital chief accelerating AI across public services and a surgical team using real-time AI guidance to cut complications and time in the OR.

“INSEAD AI is a builder’s network. We swap playbooks across markets, pair alumni with operators and researchers, and share what works in the field. The AI 50 celebrates practical progress and raises the bar for what responsible adoption looks like,” said Amit Akhelikar, co-founder of INSEAD AI (alum-led) and President, US INSEAD Alumni Association.

“INSEAD’s global community is uniquely positioned to translate AI innovation into value for companies and communities. The AI 50 shines a light on builders who pair entrepreneurial drive with strong ethics and execution,” said Kristin Skogen Lund, Chair of the INSEAD Board of Directors.

Launch event and publication

Announcement: Thursday, September 25, 2025 at 6:00 PM PT at the INSEAD San Francisco Hub. Event sponsor: Lynx Analytics, a company founded by INSEAD alumni and professors, which offers advanced AI solutions through expert consulting.

Where to view: INSEADAI50.com will publish the full list, profiles and sector breakouts at the time of the announcement. “The alumni network is an engine for action. With 70,000+ alumni in nearly 180 countries, we can move ideas across borders quickly. The AI 50 helps us share what works and lift the whole community,” said Frans Blom, President of the global INSEAD Alumni Association.

###

About INSEAD, The Business School for the World

As one of the world’s leading and largest graduate business schools, INSEAD brings together people, cultures and ideas to develop responsible leaders who transform business and society. Our research, teaching and partnerships reflect this global perspective and cultural diversity. Our global perspective and unparalleled cultural diversity are reflected in our research, teaching, partnerships; as well as in our alumni network of over 71,000 members spanning 172 nationalities.

With locations in Europe (France), Asia (Singapore), the Middle East (Abu Dhabi), and North America (San Francisco), INSEAD’s business education and research spans four regions. Our 160 renowned Faculty members from 38 countries inspire more than 1,500 degree participants annually in our Master in Management, MBA, Global Executive MBA, Specialised Master’s degrees (Executive Master in Finance and Executive Master in Change) and PhD programmes. In addition, more than 18,000 executives participate in INSEAD Executive Education programmes each year.

INSEAD continues to conduct cutting-edge research and innovate across all our programmes. We provide business leaders with the knowledge and awareness to operate anywhere. Our core values drive academic excellence and serve the global community as The Business School for the World.

Media contact: 
Aileen Huang
Email: aileen.huang@insead.edu

About INSEAD AI 50

INSEAD AI 50 is organized by the INSEAD AI (alum-led) community. It recognizes INSEAD students, staff, alumni and professors advancing artificial intelligence with real-world impact and responsible practice. Selection is governed by alumni reviewers and published by the INSEAD AI (alum-led) community.

The INSEAD AI (alum-led) community curates industry learnings, convenes dialogues across industries and connects builders with decision-makers. It is independent of INSEAD.

Media contact:  
Robert Maciejko, co-Founder, INSEAD AI 50 (alum-led),
Email: Robert@Maciejko.com

 

Quhuo Limited Reports Unaudited Financial Results for the Six Months Ended June 30, 2025

BEIJING, Sept. 26, 2025 /PRNewswire/ — Quhuo Limited (NASDAQ: QH) (“Quhuo” or the “Company”), a leading gig economy platform focusing on local life services in China, today announced its unaudited financial results for the six months ended June 30, 2025.

Despite a challenging market environment and intense industry competition, the Company continued to advance its dual-track strategy: on the one hand, optimizing on-demand delivery solutions to drive growth, and on the other, accelerating the expansion of housekeeping and accommodation solutions to further enhance profitability.

On-Demand Delivery Solutions: Optimizing Structure to Unlock Potential

Quhuo generated total revenue of RMB1,131.4 million in the first half of 2025. In the second quarter of 2025, competition in China’s food delivery market intensified, with rising costs passed down to service providers and strategic adjustments by major clients reshaping the industry landscape.

In response, Quhuo focused on workforce management and operational optimization, leveraging its strong track record and reputation to secure new business opportunities. While new site launches and integrations temporarily increased costs, the Company observed signs of market share gains relative to its key competitor since May 2025, which management believes will lay a foundation for sustainable growth.

Meanwhile, Quhuo streamlined its management structure and reallocated resources by exiting underperforming sites and concentrating on higher-revenue locations, thereby improving overall operational quality. Management expects that economies of scale and profitability in on-demand delivery solutions may begin to materialize in the second half of 2025.

Housekeeping and Accommodation Solutions: Significant Growth in Revenue and Profitability

In the first half of 2025, Quhuo’s housekeeping and accommodation businesses delivered robust results, with revenue up 70.8% year over year and gross profit increasing 63.4%, becoming a major driver of the Company’s earnings mix.

  • Chengtu (Homestay Business): Revenue grew 83.6% year over year, while gross profit surged 390.8%, achieving a gross margin of 55.2%. Supported by a scalable operating model and the rollout of its proprietary mini program, Chengtu now provides a seamless, closed-loop service from property search to payment. Looking forward, Chengtu plans to open its platform to more property owners by providing standardized management tools and marketing support, transitioning from a property management service provider into a platform operator.
  • Lailai (Hotel and Home Services): Revenue increased 63.6% year over year, driven by its partnership with Ke Holdings Inc. (“Beike”), a leading housing transactions and services platform in China. Lailai provides comprehensive property-related services, including pre- and post-listing maintenance, daily housekeeping, and customized solutions for specific resident groups. Leveraging years of expertise in local life services and its proprietary digital dispatch system, Lailai integrates cleaning, repair, and other services on a single platform, ensuring efficient management and high-quality delivery. Its services currently cover Chengdu, Beijing, Shanghai, Ningbo, and Jinan, with plans to expand to Shenzhen, Guangzhou, and other cities. Management expects these initiatives to serve as new growth engines for Quhuo’s sustainable development.

New Business Initiatives: Pursuing Stability While Expanding Opportunities

In the first half of 2025, Quhuo continued to optimize its on-demand delivery operations while expanding its housekeeping and accommodation businesses. Recently, the Company entered into a partnership with JD.com to provide on-demand delivery services in select cities, which management believes could generate incremental revenue in China’s competitive food delivery market.

In addition, the Company’s beef supply chain partnership with NIU World has been progressing since its launch in May 2025, generating approximately RMB14.4 million in revenue. Management views this as an important milestone in Quhuo’s transformation from a fulfillment service provider to a supply chain enabler, creating additional value from its core delivery network.

Outlook

Looking ahead, Quhuo will continue to execute its dual-track strategy—strengthening its core operations while accelerating the growth of new business initiatives. With a focus on efficiency, structural optimization, and innovation, the Company aims to deliver more sustainable and stable long-term returns for its shareholders.

About Quhuo Limited

Quhuo Limited (NASDAQ: QH) is a leading gig economy platform focusing on local life services in China. Leveraging Quhuo+, its proprietary technology infrastructure, Quhuo is dedicated to empowering and linking workers and local life service providers and providing end-to-end operation solutions for the life service market. The Company currently provides multiple industry-tailored operational solutions, primarily including on-demand delivery solutions, mobility service solutions, housekeeping and accommodation solutions, and other services, meeting the living needs of hundreds of millions of families in the communities.

With the vision of promoting employment, stabilizing income and empowering entrepreneurship, Quhuo explores multiple scenarios to promote employment of workers, provides, among others, safety and security and vocational training to protect workers, and helps workers plan their career development paths to realize their self-worth.

Safe Harbor Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding Quhuo’s business development, financial outlook, beliefs and expectations. Forward-looking statements include statements containing words such as “expect,” “anticipate,” “believe,” “project,” “will,” “may,” “potential” and similar expressions intended to identify forward-looking statements. These forward-looking statements are based on Quhuo’s current expectations and involve risks and uncertainties. Quhuo’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks and uncertainties related to Quhuo’s abilities to (1) manage its growth and expand its operations, (2) address any or all of the risks and challenges in the future in light of its limited operating history and evolving business portfolios, (3) establish in its competitive position in the on-demand food delivery market or further diversify its solution offerings and customer portfolio, (4) maintain relationships with major customers and to find replacement customers on commercially desirable terms or in a timely manner or at all, (5) maintain relationships with existing industry customers or attract new customers, (6) attract, retain and manage workers on its platform, and (7) maintain its market shares in relation to competitors in existing markets and its success in expansion into new markets. Other risks and uncertainties are included under the caption “Risk Factors” and elsewhere in the Company’s filings with the Securities and Exchange Commission, including, without limitation, the Company’s latest annual report on Form 20-F. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Quhuo undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

 

One-stop home exhibition “In-Home Expo 2025 Autumn” officially opens

Debut Lighting Zone and Upgraded Senior Living Pavilion

8 Themed Zones with 580 Booths deliver a One-Stop Home Experience

HONG KONG, Sept. 26, 2025 /PRNewswire/ — Organized by Exhibition Group, the one-stop home exhibition “In-Home Expo 2025 Autumn” has been postponed due to the typhoon and officially opens today at Hall 5BCDE of the Hong Kong Convention and Exhibition Centre. The show runs from today through Sunday, 28 September. To allow the public more time to visit and shop, the organizer has extended opening hours for show days (26–28 September). Admission is free for people aged 65 or above (upon presentation of a Senior Citizen Card or ID) or those who register as Exhibition Group members (regular ticket price HK$30).

The one-stop home exhibition “In-Home Expo 2025 Autumn” officially opens today and runs through Sunday, 28 September.
The one-stop home exhibition “In-Home Expo 2025 Autumn” officially opens today and runs through Sunday, 28 September.

Riding on the momentum of May’s “In-Home Expo,” the Autumn edition focuses on mid-to-high-end spending, new home move-ins, and the home renovation market. The expo sets a new record in scale with eight themed zones: Building Materials and Systems, Interior Design and Renovation, Home Appliances and Smart Home, Bedroom and Sofas, Health Equipment and Home Purification, Senior Living Products, the debut Lighting Zone, and Other Professional Home Services, bringing together over 580 booths. The show features premium brands in home goods, appliances, and bedding, alongside numerous interior design, renovation, and home services exhibitors, collectively presenting the latest home design concepts, décor ideas, materials, and smart furnishings, delivering a one-stop platform for shopping and inspiration.

Mr. Carl Wong, Chairman of Exhibition Group, said: “This year’s In-Home Expo Autumn reaches a new scale, introducing the first-ever Lighting Zone and upgrading the Senior Living Pavilion to bring more diverse home inspiration and lifestyle experiences to visitors of all ages. We are also piloting the ‘Point2Purchase Consumption Vouchers’ Campaign at both the In-Home Expo 2025 Autumn and the concurrent Hong Kong Holiday & Travel Expo 2025 Autumn to further stimulate footfall and on-site spending. Going forward, our expos will continue to introduce international design, smart home innovations, and senior-living products to drive the development of Hong Kong’s home industry and to provide a true one-stop selection and experience platform for the public.”

Debut Lighting Zone showcasing international design

The Expo features a dedicated “Lighting Zone,” for the first time, presenting 30 curated luminaires from Denmark’s Bolia, Italy’s NEMO, and original designs from Mainland China, some making their first appearance in Hong Kong, highlighting the diversity of international design. The zone is staged across 10 distinct home scenarios, from modern office and cozy home living to outdoor lifestyles, illustrating the aesthetics of light-and-space interaction. Highlights include the China-original Aladin Smart Floor Lamp, winner of a French design award, offering full-spectrum eye-care lighting, smart sensing, and Bluetooth audio, embodying the new trend of healthy, intelligent living. Visitors can also appreciate artful pieces from Italy’s NEMO and the Nordic natural aesthetics of Denmark’s Bolia, and experience how design illuminates life. Beyond elevating ambience, lighting also influences mood and wellness, inviting visitors to feel a new home atmosphere where design meets technology.

Upgraded Senior Living Pavilion promoting age-friendly homes

First introduced at this May’s “In-Home Expo,” the Senior Living Pavilion has been further upgraded for “In-Home Expo 2025 Autumn,” comprehensively showcasing barrier-free home designs and smart care solutions to improve seniors’ quality of life. The pavilion shifts from “product-led” to “human-centered,” emphasizing holistic solutions and peace-of-mind assurances. Through innovative services and design, it addresses seniors’ needs across safety, independence, and psychological well-being, while helping families reduce caregiving pressure. A dedicated “Senior Fun Park” invites seniors and families to join interactive games, try smart products, and enjoy a nostalgic home-themed photo spot with abundant gifts. The pavilion also introduces multiple research-driven and smart home technologies to make senior life more convenient and caring. To promote silver spending, admission is free for people aged 65 or above or Senior Citizen Card holders, encouraging active participation and advancing age-friendly home concepts.

Diverse on-site activities and exclusive offers from featured brands

This edition presents creative workshops where visitors can handcraft unique home décor or housewarming gifts such as Mandala String Art Clock or Mirror workshops (Booth: 5B-E33) and painted design classes. Over 20 free professional seminars and consultations will be held, inviting experts from various fields—including Feng Shui consultant Master Szeto—to share on home Feng Shui, renovation, and age-friendly living. Visitors can also join the daily on-site quiz game “In-Home Genius” for chances to win over 150 prizes, including bedding, home cleaning, and care products. In addition, visitors who pay with Mastercard® can join the Scratch Card Lucky Draw: every HK$500 in a single receipt earns one entry, HK$1,000 earns two entries, and so on, up to 10 entries per receipt. Prizes include round-trip air tickets for two to Tokyo, a window-type air-conditioner, a 3-seater sofa, a 4K LED smart TV, and other major home appliances and gifts, with instant results on scratch. Over 3,000 prizes will be given away, totaling more than HK$150,000 in value. (Trade Promotion Competition Licence No.: 060470, 060471; terms and conditions apply.)

A large appliance outlet is set up on-site. Tolam Commerce (Hong Kong) Company Limited (Booth: 5E-S68) offers warehouse-sale deals on a wide range of appliances including electric kettles, fans, coffee machines, and smart TVs with daily limited-time offers as low as 90% off. Tung Yuen Electric Co. (Booth: 5E-N68) provides special-price appliances such as a slim front-load washer (show price HK$2,680 with a complimentary USB-powered desk lamp), a window-type air-conditioner (show price HK$1,990), and an ionizer dehumidifier (show price HK$1,290). For aesthetics-driven shoppers, Interplay Interiors Limited (Booth: 5B-E29) showcases Italy’s artisanal wall clock Butterfly Mariposa, inspired by butterflies, an artful yet practical statement piece. Emma Sleep Hong Kong Limited (Booth: 5C-L39) presents the German-made Emma Diamond mattress, featuring patented temperature regulation to enhance deep sleep quality; show prices from HK$9,100 with a complimentary German fiber duvet or memory foam pillow upon purchase. The Only Way International (HK) Ltd. (Booth: 5E-R56) debuts Japan’s Mariage Hydrogen Water Generator in Hong Kong, using a rice-husk filter cartridge with a lifespan of up to 10 years, designed to support metabolism and antioxidation; show price HK$25,920.

The expo also gathers many renowned brands, offering stylish yet practical home solutions and limited-time deals to help families build their ideal smart homes with ease. Farbe Sofa Design Co. Limited (Booth: 5B-F23) launches a limited-time dining set offer: purchase a sintered-stone extendable dining table and receive four tech-fabric dining chairs (valued at HK$3,072). The table is heat-resistant and scratch-resistant with flexible extension; the chairs are water- and stain-resistant for easy cleaning—perfect for daily use and gatherings. Original price HK$5,871; show price HK$2,799; limited to 50 sets. ALOT Living Limited (Booth: 5E-N60), a Japanese-style furniture specialist, brings the Japan-made Popolo TV Board crafted in paulownia for moisture resistance and durability. It features push-to-open soft-closing glass doors and tiered drawers for convenient storage and can be paired with matching series cabinets—an expression of refined Japanese aesthetics. Medical Butler Integrated Services Centre Limited (Booth: 5S-U08) offers in-home caregiving and medical escort services, tailoring care plans for seniors and those in need, including daily assistance, medication reminders, and clinic/hospital accompaniment; sign up on-site for a 10% discount (regular price HK$360/2 hours). For renovation and design needs, K Plus Design Limited (Booth: 5C-L32) focuses on aesthetic design and fine craftsmanship to ensure build quality matches the design intent, creating comfortable and durable homes; on-site registration includes one extra year of warranty (typical project value HK$500,000+).

Introducing the “Point2Purchase Consumption Vouchers” Campaign to stimulate spending with points-to-voucher conversion

Exhibition Group recently announced the new “Point2Purchase Consumption Vouchers” Campaign, with up to HK$100 million worth of vouchers to be redeemed across exhibitions in the coming year. In the first phase, the Group partners with The Club, HKT’s customer loyalty programme, to pilot the Campaign at “In-Home Expo 2025 Autumn” and the concurrent “Hong Kong Holiday & Travel Expo 2025 Autumn,” providing the public with a new way to convert day-to-day accumulated points into spending vouchers, further boosting footfall and on-site consumption. From 12 September, The Club’s 4+ million members can redeem vouchers via The Club app, use the QR code on the e-redemption letter to collect physical vouchers at designated booths, and instantly offset spending at participating exhibitors. Members can redeem one HK$50 voucher for 300 Club points or two vouchers for 580 Club points; early-bird redemptions made from 12–24 September include a complimentary admission ticket. Building on the success of the post-pandemic “Overseas Visitor Cash Voucher Campaign,” the initiative aims to expand to 10+ themed exhibitions from 2025 to 2026, further energizing local retail and the exhibition sector and creating a win-win outcome for exhibitors, platforms, and consumers.

In-Home Expo 2025 Autumn

Date

26–28 September 2025 (Friday to Sunday)

Time

26–27 September (Fri–Sat): 10:00–21:00
28 September (Sun): 10:00–19:00

Venue

Hall 5BCDE, HKCEC 

Website

https://www.exhibitiongroup.com.hk/exhibitions/inhomeaut2025

About In-Home Expo Autumn

Since its debut in 2013, the In-Home Expo has been dedicated to creating a high-quality and unique home exhibition, held annually in May or June. It provides visitors with a one-stop destination for the latest home products and services. Starting in 2022, the Expo also introduced the “In-Home Expo Autumn” every September. With two home expos held each year, the event aims to offer visitors a comprehensive understanding of the most complete range of home products available in the market, including interior design, furniture, building materials, home goods, and appliances.

Not only does the exhibition offer consumers a wide variety of choices, but it also creates limitless business opportunities for the industry, driving the discovery of market potential and new opportunities. The event also fosters communication and development within the home industry.

About Exhibition Group

Exhibition Group Limited is one of Hong Kong’s renowned exhibition companies. Our core team has been assembled since 2003, bringing together a group of innovative, experienced, and professional exhibition talents. As a leading event management company, specializing in the planning and operation of world-class public exhibitions, conferences, and trade fairs, covering a wide range of industries. With years of industry experience, we are committed to the development of exhibition and marketing businesses, gaining a prestigious reputation within the exhibition industry.

Our company organizes a variety of themed exhibitions and marketing projects, which not only receive substantial support from the business community and exhibitors but also effectively attract a large number of public participants. Each event has garnered rave reviews, resulting in a win-win situation for exhibitors in both product promotion and sales. Notable exhibitions include the Pet Show, In-Home Expo, Premium Pet Supplies Expo, Hong Kong Cat Expo, Hong Kong Holiday & Travel Expo, Extracurricular Activities Festival cum Teaching Materials and Supplies Expo, and Hong Kong Outdoor & Sports Expo, among others. In recent years, our company has been honored with several awards, including the “Outstanding Award for Pandemic Resilience,” “ESG Commendation Awards,” and “Innovative Exhibition Planning,” recognizing our business development achievements across various sectors.

This press release is distributed by Market Hubs Holdings Limited.

For Media Enquiry,

Market Hubs Holdings Limited

Lierence Li

Debbie So

+852 3998-4900

+852 3998-4900

lierence@markethubsgroup.com

debbie@markethubsgroup.com

 

UCLOUDLINK’s Groundbreaking PetPhone Launches on HKT’s CSL Network in Hong Kong

HONG KONG, Sept. 26, 2025 /PRNewswire/ — UCLOUDLINK GROUP INC. (“UCLOUDLINK” or the “Company”) (NASDAQ: UCL), the world’s first and leading mobile data traffic sharing marketplace, today announced that its groundbreaking product, PetPhone – the world’s first smartphone for pets – has been formally procured by CSL, a leading mobile services brand under Hong Kong Telecommunications Limited (“HKT”) (HKEX: 6823), through its authorized distributor Qool International Limited. This partnership marks the official commercial launch of PetPhone and attest to the strong market recognition of the product. The Company is also in advanced discussions with multiple other potential strategic partners. PetPhone is a cutting-edge smart device designed to redefine pet care by integrating real-time communication, advanced tracking, health monitoring, and a built-in community for pet lovers.


HKT will distribute PetPhone, featuring with CSL eSIM data, through its consumer-facing mobile brand, CSL. This partnership marks a significant milestone in UCLOUDLINK’s global expansion strategy, underscoring the growing demand for its innovative solutions and its market leadership in smart connectivity solutions. This also demonstrates UCLOUDLINK’s unique value proposition to mobile network operators globally, offering them additional channels for subscriber acquisition and revenue growth through its innovative portfolio of solutions. HKT’s robust network and expansive retail presence in Hong Kong will offer reliable connectivity and convenience to pet owners in the city.

Mr. Chaohui Chen, Director and CEO of UCLOUDLINK, said, “We are excited to partner with HKT to expand the global reach of PetPhone and offer it to more pet-loving households. This partnership highlights the versatility of our GlocalMe ecosystem and our commitment to delivering innovative solutions for diverse consumer needs. PetPhone is not just a device—it’s a transformative tool that strengthens the bond between pets and their owners by offering unparalleled safety, health insights, and connectivity. Partnerships with network operators like this form the backbone of our global strategy and will lay the groundwork for future regional expansion globally. This will help accelerate the scaling up of our user base and diversify our revenue streams to a mix of value-added services and mobile data traffic solutions as part of our broader goal of building a comprehensive global mobile data traffic sharing marketplace.”

About UCLOUDLINK GROUP INC.

UCLOUDLINK is the world’s first and leading mobile data traffic sharing marketplace, pioneering the sharing economy business model for the telecommunications industry. The Company’s products and services deliver unique value propositions to mobile data users, handset and smart-hardware companies, mobile virtual network operators (MVNOs) and mobile network operators (MNOs). Leveraging its innovative cloud SIM technology and architecture, the Company has redefined the mobile data connectivity experience by allowing users to gain access to mobile data traffic allowance shared by network operators on its marketplace, while providing reliable connectivity, high speeds and competitive pricing.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Statements that are not historical facts, including but not limited to statements about market size and market opportunity and UCLOUDLINK’s beliefs and expectations, are forward-looking statements. Forward looking statements involve inherent risks and uncertainties and are based on assumptions and estimates that may prove to be inaccurate. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the development of and competition in the markets and industries UCLOUDLINK operates in and any changes in the regulatory environment; UCLOUDLINK’s strategies; UCLOUDLINK’s future business development, financial condition and results of operations; UCLOUDLINK’s ability to increase its user base and usage of its mobile data connectivity services, and improve operational efficiency; changes in UCLOUDLINK’s revenues, costs or expenditures; governmental policies and regulations relating to the global mobile data connectivity service industry, general economic and business conditions globally and in China; the impact of the COVID-19 pandemic to UCLOUDLINK’s business operations and the economy in China and elsewhere generally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and UCLOUDLINK undertakes no duty to update such information, except as required under applicable law.