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YY Group Acquires 95% Stake in Profitable Singapore-Incorporated Distributor

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Bolt-on acquisition expected to contribute to Group revenue and net income in the first full quarter following completion

SINGAPORE, Aug. 4, 2026 /PRNewswire/ — YY Group Holding Limited (NASDAQ: YYGH) (“YY Group” or the “Company”), an AI-enabled workforce management platform and integrated facility management (IFM) provider operating across Asia and beyond, today announced that it has completed the acquisition of a 95% interest in Xtreme Solutions Pte. Ltd., an established Singapore-incorporated distributor (the “Target”) for a total consideration of 4.5 million Singapore Dollars (“S$”) (approximately US$3.5 million), payable through a combination of S$0.9 million in cash and Class A ordinary shares of the Company with an aggregate value of S$3.6 million, which will be subject to a 12-month lock-up period (the “Acquisition”).

Based on unaudited and unreviewed financial statements prepared in accordance with Singapore Financial Reporting Standards (“SFRS”), the Target generated revenue of approximately S$6.0 million (approximately US$4.7 million), with a net profit of approximately S$600,000 (approximately US$0.47 million) in its financial year ended March 31, 2026. The Acquisition is expected to be accretive to the Company’s revenue and net profit in the first full quarter following completion.

YY Group believes the Target has grown into an established and profitable Singapore-incorporated distribution business, primarily through traditional sales channels and word-of-mouth referrals, while its digital sales channel remains underdeveloped and represents a significant growth opportunity. YY Group, through its digital marketing and technology subsidiary, MediaPlus Venture Group Pte. Ltd., expects to bring capabilities that the Target has not previously had access to: e-commerce and web development, digital marketing, and performance analytics. YY Group intends to modernize the Target’s digital storefront, inventory visibility, and customer acquisition channels, boosting the visibility and efficiency of a business already operating profitably. Additionally, the Target’s operational footprint is expected to provide a new, captive deployment environment for YY Group’s core YY Circle manpower outsourcing services, by creating ongoing demand for manpower to support the Target’s operations.

YY Group also plans to expand the Target’s business into overseas markets where YY Group already has an operating presence. YY Group intends to promote the Target’s products through the YY Circle platform, which has more than 500,000 members, creating additional cross-selling, customer acquisition, and regional distribution opportunities across YY Group’s ecosystem.

“Our approach to acquisition is straightforward: look for profitable, well-run businesses where we can add value without diverting attention from our core platform,” said Mike Fu, Chief Executive Officer of YY Group. “The Target fits that profile exactly: a strong operator with a loyal customer base that will generate cash immediately while offering an opportunity for digitalization-driven growth. We will continue to selectively pursue acquisitions of established, profitable businesses, apply our technology and marketing infrastructure, and grow revenue without disrupting what already works.”

The Target’s existing management team will continue to lead the business under a service agreement, preserving supplier relationships, product expertise, and customer trust built over its operating history. The Target will retain its current brand and store presence.

About YY Group Holding

YY Group Holding Limited (Nasdaq: YYGH) is an AI-enabled workforce management platform and integrated facility management (IFM) provider, headquartered in Singapore and operating across Asia and beyond. The Company’s intelligent workforce solutions platform, YY Circle, helps clients across hospitality, food and beverage, retail, and other service sectors predict, plan, and optimize workforce deployment. In YY Group’s IFM business, its 24IFM software platform and comprehensive IFM subsidiary portfolio support clients across hospitality, transportation, banking, retail, and mixed-use facilities.

As both business lines scale, the Company is systematically embedding AI and automation capabilities – progressing from intelligent decision support toward increasingly autonomous workforce management – to improve service quality, reduce deployment costs, and drive long-term margin expansion. Listed on the Nasdaq Capital Market, YY Group is committed to infrastructure innovation, measurable client outcomes, and long-term value creation.

Exchange Rate Information

Translations of amounts from Singapore dollars into U.S. dollars in this press release are solely for the convenience of the reader and were calculated at a rate of S$1.00 to US$0.7801, being the exchange rate on August 3, 2026. No representation is made that the Singapore dollar amounts could have been, or could be, converted into U.S. dollars at that rate or at any other rate.

Forward Looking Statements

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the YY Group Holding Limited’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to, (i) growth of the hospitality market across Southeast Asia, Hong Kong, and other markets in which the Company operates, (ii) capital and credit market volatility, (iii) local and global economic conditions, (iv) our anticipated growth strategies, (v) governmental approvals and regulations, (vi) our ability to successfully develop, deploy, and commercialize our AI-powered and automation products and capabilities, including through strategic partnerships, and (vii) our future business development, results of operations and financial condition. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. All information provided in this press release is as of the date of this press release, and YY Group Holding Limited undertakes no duty to update such information, except as required under applicable law.

Investor Contact
Jason Zhi Yong Phua, Chief Financial Officer
YY Group
enquiries@yygroupholding.com

TECHTRONIC INDUSTRIES DELIVERS STRONG FIRST HALF PERFORMANCE

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GROWING SALES TO US$8.3 BILLION, NET PROFIT INCREASED TO US$738 MILLION

HONG KONG, Aug. 4, 2026 /PRNewswire/ — Techtronic Industries Co. Ltd. (“TTI” or the “Group”) (stock code: HK: 0669, ADR symbol: TTNDY), a global cordless power tool, outdoor power equipment and floorcare & cleaning company, is pleased to announce its results for the six-month period ended June 30, 2026. The Group delivered record first half results in 2026, with revenue growing 5.9% to US$8.3 billion. Its two leading brands, MILWAUKEE and RYOBI, both delivered a strong performance in the first half of 2026, growing at a combined 8.2% underlying growth rate in local currency.

  • TTI delivered record first half results in 2026, with revenue growing 5.9% to US$8.3 billion and net profit increasing 17.5% to US$738 million. 
  • Our global MILWAUKEE business grew 10.5% on an underlying basis in local currency, after adjusting for the planned 2025 timing impact related to the MILWAUKEE Americas ERP system conversion.
  • RYOBI, the #1 global consumer cordless tool and outdoor products brand, grew 1.7% in local currency to US$1.9 billion in the first half of 2026. 
  • EBIT margin expanded 86 basis points to a record high 9.9%, up from 9.1% in the first half of 2025. More importantly, we are well positioned to meet or exceed our internal target of 10.0% EBIT margin by 2027.
  • We delivered US$753 million of free cash flow in the first half of 2026 and we are on track for another strong free cash flow performance in the second half. 
  • The Company commenced its US$500 million automatic share repurchase plan following authorization and approval in June 2026. 

 

Financial Performance Highlights for H1 2026

2026

US$’

million

2025

US$’

million

Changes

Revenue

8,292

7,833

+5.9 %

Gross profit margin

42.9 %

40.3 %

+258 bps

EBIT

822

709

+15.9 %

Profit attributable to Owners of the Company

738

628

+17.5 %

Basic Earnings per share (US cents)

40.50

34.37

+17.8 %

Free Cash Flow

753

468

+285 m

Interim dividend per share (approx. US cents)

19.31

16.09

+20.0 %

Gross margin expanded 258 basis points to a record 42.9% in the first half of 2026. The 2026 gross margin expansion of 163 basis points was driven from the annualization of our tariff-mitigation efforts such as optimizing production, productivity gains, and supplier partnerships. EBIT grew 15.9% to US$822 million, while EBIT margin increased 86 basis points to 9.9%. Net Profit increased 17.5% to US$738 million due to lower net finance costs, and earnings per share rose 17.8% to US40.50 cents. Working capital as a percentage of sales improved 11 basis points from last year to 16.6%. TTI generated US$753 million in positive Free Cash Flow in the first six months of 2026, ending the period in a US$1.066 billion net cash position. In June 2026, TTI commenced its automatic share repurchase plan of up to US$500 million over the next 18 months. Through the end of July, it has repurchased US$42 million of stock pursuant to the plan.

The Group’s reportable segment structure is changed from the previous business segments of “Power Equipment” and “Floorcare and Cleaning” to the newly defined segments of “Professional” and “Consumer”. The Professional segment delivered sales of US$5.9 billion in the first half of 2026, an increase of 9.7% in reported currency. The Consumer segment delivered sales of US$2.4 billion in the first half of 2026, a decrease of 2.5%.

The Directors have resolved to declare an interim dividend of HK150.00 cents (approximately US19.31 cents) (2025: HK125.00 cents (approximately US16.09 cents)) per share for the six-month period ended

June 30, 2026. The interim dividend will be paid to shareholders listed on the register of members of the Company on September 4, 2026. It is expected that the interim dividend will be paid on or about September 18, 2026.

Mr. Horst Pudwill, Executive Chairman of TTI, said, “With the best people and strongest culture, deepest relationships with the core trades and customers, the most robust product roadmap, and the healthiest balance sheet in TTI’s history, we are poised to continue leading the industry in the years to come.”

Mr. Steven P. Richman, CEO of TTI, commented, “After delivering a 9.9% EBIT margin in the first six months of 2026, we have an increased level of confidence in our ability to meet or exceed our internal target of 10.0% EBIT margin by 2027 with further upside in 2028 and beyond. TTI is poised to deliver another outstanding year in 2026.”

Forward-Looking Statements

This announcement contains certain forward-looking statements or uses certain forward-looking terminologies which are based on the current expectations, estimates, projections, beliefs and assumptions of TTI about the businesses and the markets in which the Group operates and reflect TTI’s views as of the date of this announcement. These forward-looking statements are not guarantees of future performance and are subject to market risk, uncertainties and factors beyond the control of TTI. Therefore, actual outcomes and returns may differ materially from the assumptions made and the statements contained in this announcement.

About TTI

Techtronic Industries Company Limited (“TTI” or the “Company”), founded in 1985 by German entrepreneur Horst Julius Pudwill, is a world leader in cordless technology. As a pioneer in Power Tools, Outdoor Power Equipment, Floorcare and Cleaning Products, TTI serves professional, industrial, Do It Yourself (DIY), and consumer markets worldwide. With more than 47,000 employees globally, the company’s relentless focus on innovation and strategic growth has established its leading position in the industries it serves.

MILWAUKEE is at the forefront of TTI’s professional tool portfolio. With global research and development headquartered in Brookfield, Wisconsin, the historic MILWAUKEE brand is renowned for driving innovation, safety, and jobsite productivity worldwide. The RYOBI brand, headquartered in Greenville, South Carolina, remains the top choice for DIYers and continues to set the standard in DIY tool innovation. TTI’s diverse brand portfolio also includes trusted brands like AEG, EMPIRE, HOMELITE, and leading floorcare names HOOVER, ORECK, VAX, and DIRT DEVIL.

TTI’s international recognition and renowned brand portfolio are supported by a strong ownership structure that underscores the company’s global reach and stability. The Pudwill family remains the company’s largest shareholder, with the remaining ownership held largely by institutional investors at North American and European-owned firms. TTI is publicly traded on the Hong Kong Stock Exchange and is a constituent stock of the Hang Seng Index, operating globally with a strong commitment to environmental, social, and corporate governance standards. For more information, visit www.ttigroup.com.

All trademarks listed other than AEG and RYOBI are owned by the Group. AEG is a registered trademark of AB Electrolux (publ.) and is used under license. RYOBI is a registered trademark of Ryobi Limited and is used under license.

Lockton Introduces Lockton SAGE: The Industry’s First Unified Enterprise Intelligence Platform

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Advertorial Desk
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Purpose-built to bring the full power of Lockton’s proprietary data, advanced analytics, AI-enabled capabilities, and specialized expertise to client decisions, at scale 

KANSAS CITY, Mo., Aug. 4, 2026 /PRNewswire/ — Lockton, the world’s largest privately held insurance brokerage and risk management firm, today announced the expanded availability of Lockton SAGE, its enterprise intelligence platform purpose-built to bring the full power of Lockton’s proprietary data, advanced analytics, AI-enabled capabilities, and specialized expertise to client decisions. 

First introduced within Lockton Re, Lockton SAGE is now being extended across the firm’s US broader business with capabilities spanning Risk Solutions, People Solutions, and Reinsurance.  

As organizations navigate increasingly complex workforce, financial, and risk decisions, many are challenged by disconnected data, siloed insights, and a growing wave of standalone AI tools that fail to deliver the full picture. 

“No firm is better positioned to lead clients into the age of AI than Lockton, but technology alone is never the advantage; real impact comes from combining powerful intelligence with exceptional people,” said Ron Lockton, Chairman and CEO of Lockton. “Our data, technology, and expertise were built together over time, not bolted on through acquisition, so they work as one, and we built Lockton SAGE to make our advisors better; giving them the insight to deliver a smarter, more personal way for clients to navigate risk and reach stronger outcomes. The firms that lead the next decade will be the ones that pair great technology with great people, and that is exactly where we are focused.” 

Lockton SAGE was built to bring it all together. 

Lockton SAGE uses AI-enabled capabilities to surface the patterns, priorities, and recommendations that matter most to each client’s business.

From Data to Decision — at Speed 

Lockton SAGE connects policies, quotes, claims, and exposures, applying AI-enabled analytics with human experience to provide clients with faster, smarter guidance when decisions matter most. By uncovering patterns, anticipating emerging risks, and delivering actionable recommendations earlier, the platform helps organizations mitigate issues before they grow, reducing costs today while creating greater financial and operational resilience for the future.  

What Clients Receive 

For clients, that means moving beyond a fixed insurance platform to a personalized operating environment – one that combines best-in-class services with an experience designed around their business, their priorities, and the metrics that matter most. 

Across every stage of the insurance lifecycle, Lockton SAGE translates connected intelligence into a deep understanding of the client business and risk profile, paired with insights specific to their goals and objectives — from the data that starts the process to the advisory that follows the placement:  

  • Richer data, lighter lift — Real-time collaboration and automated data capture replace manual information gathering, reducing the administrative burden of buying and managing coverage while building a more complete, higher-quality view of each client’s risk.
  • Deeperanalytics — Insights extend across all of a client’s exposures and move beyond generic benchmarking to customized, forward-looking views of that client’s specific risk profile.
  • Smarterstructuring — Clients gain more options for risk transfer and management, with real-time visibility into the financial tradeoffs of any program structure before decisions are finalized.
  • Optimizedplacement — All products, segments, and carriers are analyzed continuously, giving clients the strongest available understanding of the marketplace and the most effective coverage selections.
  • Moreadvisory — Platform-driven efficiency frees Lockton Associates to spend more time on strategic advisory work — backed by the marketplace relationships that matter most in advocating for clients.

Built for the Long Game 

 Lockton’s private ownership allows the firm to take the long-term view, investing deliberately in a flexible platform architecture that can continuously adopt leading AI models as they reshape how organizations evaluate risk. The result is a platform designed to keep innovating, adapting, and scaling alongside client needs — staying ahead of market demands, not reacting to them. 

“The market is full of tools, but clients need the right intelligence — connected, contextual, and built around how they actually make decisions. Lockton SAGE is our commitment to delivering exactly that. It’s not a single product. It’s the collective expertise of Lockton, working together to give every client greater confidence at every decision point.” 

— Claude Yoder, Chief Data, Analytics, and Digital Officer, Lockton 

Lockton SAGE creates a scalable foundation for continued innovation, expanding the value Lockton delivers across every client relationship. And because Lockton SAGE continues to develop new intelligence over time, it compounds in value as Lockton and its clients continue to grow, equipping Lockton Associates with the tools and insights needed to provide more informed and impactful guidance. For more information, visit LocktonSAGE.com.

About Lockton  

What makes Lockton stand apart is also what makes it better: independence. Lockton’s private ownership empowers nearly 15,000 Associates doing business in 180+ countries to focus solely on clients’ risk and insurance needs. With expertise that reaches around the globe, Lockton delivers the deep understanding needed to accomplish remarkable results.

Sharon AI Announces US$373m Five-Year AI Cloud Service Agreement

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Advertorial Desk
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NEW YORK, Aug. 4, 2026 /PRNewswire/ — Sharon AI Holdings Inc. (NASDAQ: SHAZ) and its subsidiaries (“Sharon AI” or the “Company”), a leading Australian Neocloud, today announced that it has entered into a five-year cloud computing service agreement with a global artificial intelligence (“AI”) platform. The agreement has a total contract value of US$373 million over its five-year term.

Sharon AI (NASDAQ: SHAZ)
Sharon AI (NASDAQ: SHAZ)

Under the agreement, Sharon AI expects to deploy cloud computing solutions across its AI infrastructure in Australia. The Company expects revenue under the agreement to commence during the first quarter of 2027.

Following execution of this agreement, Sharon AI’s total AI Factory capacity remains at 132 megawatts (MW) but has now contracted a total of 120MW to end customers. The Company will upgrade from 62,000 to 64,000 NVIDIA GPUs across its AI Factory platform by mid-2027.

The initial deployment under this agreement is expected to utilize 2,048 NVIDIA Blackwell Ultra B300 GPUs. Additional deployments may occur over the term of the agreement in accordance with customer requirements and the terms of the contract.

The agreement further supports Australia’s ambition to become a leading destination for AI infrastructure investment in the Asia-Pacific region. By deploying advanced AI compute capacity within Australia, Sharon AI is helping to expand the nation’s sovereign AI capability, enabling global AI platforms to access high-performance infrastructure while supporting the development of a broader domestic AI ecosystem.

As demand for AI infrastructure continues to accelerate, long-term customer commitments such as this contribute to investment in Australian digital infrastructure, strengthen the country’s position as a regional AI hub and create opportunities for Australian businesses, researchers and government organizations to access world-class AI compute closer to where it is needed.

James Manning, Co-founder and Chief Executive Officer of Sharon AI, said:
“This agreement represents an important milestone in the continued expansion of Sharon AI’s customer base and contracted AI infrastructure capacity. As organizations increasingly seek access to sovereign, high-performance AI compute, we remain focused on delivering scalable infrastructure that supports the evolving needs of AI platforms, enterprises and governments.

“We continue to see strong demand for AI infrastructure in Australia and across the Asia-Pacific region, and this agreement reflects our strategy of securing long-term customer commitments as we expand our AI Factory platform.”

About Sharon AI

Sharon AI (NASDAQ: SHAZ) is a leading Australian neocloud expanding access to artificial intelligence through trusted, secure and sovereign AI infrastructure. Through its AI Factory platform and colocation partners, Sharon AI enables organizations across Australia, New Zealand, and globally to confidently build, train and deploy AI at scale. For more information, visit www.sharonai.com.

Disclosure Information

Sharon AI primarily uses its Investor Relations page (https://sharonai.com/investors/) to disclose material non-public information and to comply with its disclosure obligations under Regulation FD. The Company also notes that, at times, it uses other communication mediums including, but not limited to, its X account (Sharon__ai) and/or LinkedIn account (Sharon-AI) to disseminate information about the Company and can be additional sources of information outside press releases, regulatory filings with the SEC and any other conference calls, webcasts, investor days, etc. that the company may hold.

Forward-Looking Statements

This press release may contain, and our officers and representatives may from time to time make, “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which are not historical facts, and which are not assurances of future performance. Forward-looking statements are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. In some cases you can identify these statements by forward-looking words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “should,” “would,” “project,” “strategy,” “plan,” “expect,” “goal,” “seek,” “future,” “likely” or the negative or plural of these words or similar expressions or references to future periods. Forward-looking statements in this release include specific statements regarding the intended use of proceeds. Examples of such forward-looking statements include but are not limited to express or implied statements regarding Sharon AI’s management team’s expectations, hopes, beliefs, intentions or strategies regarding the future including, without limitation, statements regarding:

  • Service and product offerings;
  • Receipt and use of proceeds;
  • The deployment of assets and expansion of network procurement;
  • Sharon AI’s ability to engage with additional potential customers;
  • Expansion of Sharon AI’s data center footprint and capacity; and
  • The strengthening of Sharon AI’s partner network.

In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. You are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those set forth in these forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results to differ materially from these forward-looking statements include, among others, all of the risks described in the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K filed with the SEC and other reports subsequently filed with the SEC. Additional assumptions, risks and uncertainties are described in detail in our registration statements, reports and other filings with the SEC, which are available at www.sec.gov.

The forward-looking statements and other information contained in this news release are made as of the date hereof and Sharon AI does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Contacts 

Media
media@sharonai.com

Investors
investors@sharonai.com

U Power Limited Announces US$16 Million Private Placement Subscribed by Existing Shareholders

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HONG KONG, Aug. 4, 2026 /PRNewswire/ — U Power Limited (Nasdaq: UCAR) (the “Company” or “U Power”), a provider of AI-integrated solutions for next-generation energy grids and intelligent transportation systems, today announced that on August 3, 2026, it entered into subscription agreements (the “Subscription Agreements”) with four existing shareholders for the sale of 9,756,100 Class A Ordinary Shares (each, a “Share” and, collectively, the “Shares”) of the Company at US$1.64 per Share, for aggregate gross proceeds of US$16 million (the “Transaction”), in reliance upon Regulation S under the Securities Act of 1933, as amended (“Regulation S”).

The Shares are being offered for the account of the Company to certain of its existing shareholders in an offshore transaction pursuant to Regulation S.

The closing of the Transaction took place on August 3, 2026, following the satisfaction of customary closing conditions. The Transaction has been approved by the Company’s board of directors.

The Company intends to use the net proceeds from the Transaction primarily to 1) support its expansion into hydrogen energy solutions for intelligent data centers (IDCs) in Thailand, and 2) fund its core operations and the expansion of its proprietary battery-swapping solutions across overseas markets, including its battery-swapping heavy truck project in Thailand, electric van project in Southern Europe, and taxi project in Hong Kong SAR. The Company’s management retains discretion over the use and timing of the proceeds.

Additional details regarding the Transaction are set forth in the Company’s Current Report on Form 6-K filed with the U.S. Securities and Exchange Commission on August 3, 2026. The Shares issued in the Transaction were offered in an offshore transaction to persons who are not U.S. persons pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), and have not been registered under the Securities Act or applicable state securities laws. Accordingly, the Shares may not be offered or sold in the United States or to U.S. persons except pursuant to an effective registration statement under the Securities Act, or pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of the Securities Act, and, in each case, only in accordance with applicable state securities laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About U Power Limited

U Power is an AI-integrated energy solutions provider building next-generation intelligent transportation and clean energy infrastructure. Originally a pioneer in EV battery-swapping, the Company developed proprietary modular technology, UOTTA™, and built a scalable network supporting commercial EV operations across multiple international markets.

U Power is now evolving beyond battery-swapping into an AI-driven, multi-energy ecosystem spanning EV infrastructure, smart energy management, and hydrogen power generation. Through a joint venture with Jiangsu GuoFu Hydrogen Energy Equipment Co., Ltd., the Company delivers intelligent hydrogen-based power solutions for Artificial Intelligence Data Center (AIDC) and next-generation transportation systems, supporting autonomous mobility, smart grid optimization, and the high-performance power demands of global digital industries with future-ready energy systems.

For more information, please visit the Company’s website: https://www.upower-limited.com/.

Safe Harbor Statements

This press release contains “forward-looking statements,” including statements regarding the Company’s intended use of proceeds. 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 identify these forward-looking statements by words or phrases such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. 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. 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, and the Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to review other factors that may affect its future results in the Company’s registration statements and other filings with the U.S. Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. References and links (including QR codes) to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. 

Contact

U Power Limited 
Investor Relations Department
Email: ir@upincar.com

Piacente Financial Communications
Email: ucar@tpg-ir.com

Heartland 66 Accelerates Retail Transformation with the Launch of First-to-Market Korean Trend Zone and edgestreet Concept Space

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Strategic 10,400 sq. m. transformation brings 150+ fashion and lifestyle brands to Central China


WUHAN, CHINA & HONG KONG SAR – Media OutReach Newswire – 4 August 2026 – Heartland 66 in Wuhan, under Hang Lung Properties Limited (SEHK stock code: 00101) (“Hang Lung” or the “Company”), is expanding its new-generation, differentiated retail mix and customer experience offerings through the launch of Central China’s first curated 24KR Korean Trend Zone and edgestreet Concept Space. Building on the Heartland 66’s premium positioning, the two areas bring together Korean Wave culture, contemporary fashion, new-to-market brand launches, vibrant social spaces, and immersive experiences – forming part of Heartland 66’s transformation from a traditional retail destination into a trendy lifestyle hub, while contributing to the development of Wuhan’s retail sector.

24KR Korean Trend Zone, inspired by Seongsu-dong in Seoul, brings together more than 100 trendy Korean brands offering contemporary fashion, footwear and accessories, as well as food and coffee.
24KR Korean Trend Zone, inspired by Seongsu-dong in Seoul, brings together more than 100 trendy Korean brands offering contemporary fashion, footwear and accessories, as well as food and coffee.

Launched between June and July, the 24KR Korean Trend Zone and “Greenhouse by edgestreet,” together spanning approximately 10,400 sq. m., feature a lineup of more than 150 brands. The 24KR Zone captures the contemporary Korean Wave that resonates with new-generation consumers and enriches the shopping experience. “Greenhouse”, meanwhile, is a concept space developed by edgestreet, centered on a greenhouse-inspired botanical theme and offering a diverse mix of design, aesthetics, home living and pet lifestyles. It blends modernfashion, lifestyle aesthetics and social interaction, deepening engagement with emerging customer segments. Among the first batch of brands unveiled, 24KR introduces 11 brands making their China debut and 15 making their Central China debut, while “Greenhouse” brings 20 brands opening their first stores in Wuhan.

"Greenhouse by edgestreet" focuses on designer brands, lifestyle and home living offerings, and pet lifestyle brands favored by new-generation customers, creating a stylish, warm and welcoming aesthetic space that delivers a "greenhouse experience."
“Greenhouse by edgestreet” focuses on designer brands, lifestyle and home living offerings, and pet lifestyle brands favored by new-generation customers, creating a stylish, warm and welcoming aesthetic space that delivers a “greenhouse experience.”

Such initiatives support Wuhan’s goal of accelerating its development into a forward-thinking city and an international consumption center. As a major transportation, education and commercial hub in Central China, Wuhan continues to attract university graduates seeking employment and entrepreneurship, as well as young talent from neighboring provinces who help to fuel local consumption. Heartland 66 aims to inject more emerging consumption experiences and commercial vitality into the local market.

Ms. Veronica Chan, Director – Mainland Business Operation, Hang Lung Properties, said, “Heartland 66 is actively introducing curated fashion and lifestyle offerings in response to the evolving consumer preferences. By providing a rich and diverse range of choices, we are creating placemaking destinations that foster a strong sense of community. As a commercial landmark in Wuhan, we will continue to strengthen our differentiated positioning, contribute to the city’s development as an international consumption center, and help stimulate consumer vitality.”

Mr. Harvey Ye, General Manager of Heartland 66, said, “The successive launch of 24KR Korean Trend Zone and ‘Greenhouse by edgestreet’ marks a firm step forward in engaging younger consumers and driving the revitalization and upgrading of our commercial spaces. On its opening day, the 24KR Zone lifted footfall by more than 50% year-on-year. ‘Greenhouse’, which followed shortly after, also drew a strong market response. Both underscore the powerful potential of the emerging consumer market and the surging economic vitality of Central China.”

Appendix — Details of the 24KR Korean Trend Zone and “Greenhouse by edgestreet”

Item 24KR Korean Trend Zone “Greenhouse by edgestreet”
Location in Heartland 66, Wuhan B1, East Zone L3, East Zone
Area Approximately 2,400 sq. m. Approximately 8,000 sq. m.
Positioning Contemporary Korean fashion and trendy lifestyle Curated designer brands and quality lifestyle offerings
Brand categories Trendy fashion, footwear and accessories, cosmetics and fragrances, designer toys, food and coffee Designer brands, lifestyle and home living offerings, pet lifestyle brands
Number of brands More than 100 trendy and creative Korean brands More than 50 emerging international brands
First-in-market highlights First batch: 11 China-debut and 15 Central China-debut brands, including FANCY CLUB, ZAENIO, IST KUNST, BLACKPURPLE and LAZY First batch: 20 first-in-Wuhan brands, including THE WAREHOUSE by SHOWROOM SHANGHAI, HiOneOne, DOROQ, ARTICLE NO., and D&L Pets Department Store
Design concept Inspired by Seongsu-dong in Seoul, incorporating Korean streetscape elements, tactile material textures, and layered urban details Centered on “Lifestyle Inspiration × Greenhouse Ecology × Artistic Aesthetics,” using light, shadow and greenery to create a natural and open spatial experience

Hashtag: #HangLungProperties

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

About Hang Lung Properties

Hang Lung Properties Limited (SEHK stock code: 00101) creates compelling spaces that enrich lives. Headquartered in Hong Kong and Shanghai, the Company manages a portfolio of over 3.6 million square meters of retail, office, residential, and hotel properties across Hong Kong and the Chinese Mainland.

The Company’s diverse portfolio in Hong Kong includes office towers and malls in prime districts, as well as luxury residential developments in prestigious areas. In the Chinese Mainland, under the signature “66” brand, the Company’s mixed-use and retail developments are regarded as premium landmarks, strategically located in the hearts of key cities of Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan, and Hangzhou.

The Company is recognized for pioneering sustainability in the real estate industry, with an MSCI ESG rating of AA and inclusion on CDP “A List” for Climate Change. The Company powers 90% of its operating properties in the Chinese Mainland with renewable energy, with a net-zero commitment by 2050.

At Hang Lung Properties – We Do It Well.

For more information, please visit https://www.hanglung.com.

Vinhomes’ 6,200-Hectare Ha Long Bay Project: Evolving the Concept of Urban Scale

By
Advertorial Desk
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HA LONG, VIETNAM – Media OutReach Newswire – 4 August 2026 – Vinhomes has outlined the master plan for Vinhomes Global Gate Ha Long, an integrated urban development spanning approximately 6,200 hectares beside the UNESCO-listed Ha Long Bay. It is the company’s largest urban development to date, marking a shift in how success in city-building is measured: not by the size of the land developed, but by the value every hectare delivers to the people who live there.

An illustration of Vinhomes Global Gate Ha Long's master plan.
An illustration of Vinhomes Global Gate Ha Long’s master plan.

For decades, the size of a master planned community has been one of the industry’s clearest measures of ambition. Across many markets, developments spanning 2,500 acres or more are regarded as large scale projects, distinguished by their mix of housing, retail, schools, parks and lifestyle amenities (1).

Today, as cities confront mounting pressure from climate change, population growth and changing patterns of mobility, urban development is being judged by a different standard. The OECD notes that future cities must do more than expand. They must connect people to jobs and services, strengthen climate resilience and integrate nature into the fabric of urban infrastructure (2).

Positioned along the Hanoi – Hai Phong – Quang Ninh Expressway, at the intersection of northern Vietnam’s tourism, industrial and logistics corridors, Vinhomes Global Gate Ha Long is planned not as a residential complex but as a fully integrated city, bringing together world-class housing, public services, commerce and ecological infrastructure within a single connected environment. The project represents Vinhomes’ most comprehensive urban vision to date, extending two decades of evolution from landmark residential projects to fully integrated townships.

A City Engineered for Connectivity and Daily Convenience

At the core of the master plan is the principle of an integrated urban ecosystem, designed to shorten the distance between where people live, work, learn and access essential services. Transportation, education, healthcare, commerce and hospitality are embedded within a single, unified environment.

Reinforcing this connectivity is the project’s location adjacent to the future depot station of the Hanoi–Quang Ninh high-speed railway, which is expected to connect residents to the capital in approximately 23 minutes, reshaping regional mobility and enabling a single daily commute between the intensity of metropolitan Hanoi and the UNESCO World Heritage landscape of Ha Long Bay.

Residents will also enjoy uninterrupted views of Ha Long Bay itself, alongside clean air, expansive waterfronts and exceptional ecological quality. Residential offerings span villas, townhouses, shophouses and high-rise apartments across six major districts.

Embedding Sustainability and World-Class Amenities

Environmental regeneration underpins the development at scale. More than 2,500 hectares are dedicated to green spaces, water bodies and mangrove landscapes, including 680 hectares of naturally filtered seawater, approximately 200 kilometers of coastline and the 660-hectare Globe Ha Long Forest Park. Together, these ecological assets are designed to support biodiversity, strengthen climate resilience and foster healthier living conditions, forming the core of Vinhomes’ ESG++ vision for regenerative urban development.

The city is organized around interconnected ecosystems. Culture and entertainment feature a 60,000-seat outdoor waterfront venue, the 3,000-seat Wonder Theatre, an 81-hectare VinWonders destination featuring what is planned to be the world’s largest aquarium park, an international convention center for more than 4,500 guests, and an 18.5-hectare Vietnamese Cultural and Culinary Village.

Hospitality and leisure offerings include internationally managed luxury hotels and resorts, integrated casino facilities, a 950-hectare golf complex comprising 12 courses, an 800-hectare mangrove recreational park, and Wonder Marina, which provides direct access to Ha Long Bay.

Commerce and lifestyle amenities are centered around Vincom Mega Mall, premium outlet shopping, Vincom Collection retail streets and dedicated lifestyle destinations, creating a 24-hour retail and dining environment.

Sports and wellness infrastructure includes Vietnam’s first purpose-built Sports District, spanning 13.3 hectares, a professional sports academy, and more than 50 kilometers of cycling routes woven throughout the city.

Health and education needs are met by the 14-hectare Vinmec Cleveland Clinic International Hospital; Vin New Horizon, Vietnam’s largest senior living center; Golden Residence retirement villas; Vinschool campuses; an American international school; and Wonder Young Hub, a dedicated center for youth development.

Anchoring the city’s economic future is a new central business district featuring office towers of 30 to 45 stories, designed to attract domestic and international businesses and reinforce Ha Long’s role as a major economic and financial hub.

Setting a New Standard for Future Urban Development

Vinhomes Global Gate Ha Long has been planned in alignment with ISO 37125, the latest international guidance for sustainable urban development, while incorporating Vingroup’s ESG++ approach, extending beyond environmental protection to encompass ecological regeneration, resource efficiency, digital governance, resilient infrastructure and long-term community wellbeing.

Smart technologies, including artificial intelligence, Internet of Things applications and data-driven urban management, are intended to optimize city operations alongside green mobility systems and efficient public infrastructure.

Guided by three core principles, connectivity, regeneration and excellence, the project seeks to demonstrate how mobility, environmental stewardship, public services, commerce and culture can function within a single planning framework. Through this approach, Vinhomes underlines its commitment to developing integrated urban environments designed for long-term sustainability.

1. https://www.newhomesource.com/learn/all-about-master-planned-communities/
2. https://www.oecd.org/content/dam/oecd/en/publications/reports/2025/12/integrated-urban-policy-to-achieve-the-sdgs_e1bb165d/ada07311-en.pdf

Hashtag: #Vinhomes

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

About Vinhomes

Vinhomes is Vietnam’s largest residential real estate and integrated township developer. The company pioneers the development of synchronized, modern large-scale townships, delivering premium living standards and unlocking sustainable investment opportunities for domestic and international clients.

Heavy Rain Floods Laos as Rivers Rise, New Warnings Issued

By
Phoudasack Vongsay
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A left picture is a flood in Sikhottabong district, Vientiane Province on 29 July, and a right picture is the Xe Champhone River in Savannakhet Province exceeding warning level into danger zone. (Photo by Laophattana News and Tholakhong)

Heavy rain in recent days has caused flooding, rising river levels, and infrastructure impacts across several provinces, while Lao authorities warn that more rainfall could bring further flooding, landslides, and strong winds this week.

According to the Department of Meteorology and Hydrology, a low-pressure system moving across northern and central Laos, combined with moderate southwest monsoon winds, has brought widespread rainfall over the past week. The weather pattern has caused light to moderate rain nationwide, with periods of heavy to very heavy rain and strong winds reported in some areas.

On 4 August, the Department of Meteorology and Hydrology reported that the Xe Champhone River in Champhone District, Savannakhet Province, reached 8.02 metres, exceeding the official warning level of 8 metres and entering the danger level.

In Luang Prabang Province, heavy rain on 3 August triggered sudden flooding in Kokngiew village, with fast-moving floodwaters sweeping through parts of the area.

Authorities also reported flooding near the Luang Prabang Teacher Training College in Nasangveuy village on 28 July. Local officials said the area has faced repeated flooding for years due to a natural drainage channel.

In Vientiane Capital, heavy rain on 29 July caused severe waterlogging in Khountathong village, Sikhottabong District. The area has experienced repeated flooding during this year’s rainy season despite recent efforts by authorities and developers to improve drainage systems.

Weather Warning

The Department of Meteorology and Hydrology issued a nationwide warning on 4 August for possible flooding and landslides as heavy rain continues.

High-risk areas include Phongsaly, Xaysomboun, Bolikhamxay, Khammouane, Savannakhet, and Attapeu provinces. Moderate-risk areas include Xiangkhouang and Champasak provinces.

Authorities urged residents in flood-prone and landslide-prone areas to closely monitor weather forecasts and river levels and prepare for possible evacuations if conditions worsen.

According to the department’s weekly forecast, rainfall is expected to continue through 9 August across much of Laos, with heavy to very heavy rain possible in northern, central, and southern provinces.

Officials warned that continued rainfall could trigger flash floods, landslides, urban flooding, strong winds, and further rises in river levels in vulnerable areas.

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