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St. Regis Hotels & Resorts and Vilebrequin’s Exclusive Capsule Collection and Unforgettable Experiences Make Their Greater China Debut This Summer

Elevated getaway with a limited-edition collection of swimwear, accessories, and activities inspired and brought to life by the signature Family Traditions of St. Regis.

SHANGHAI, Aug. 14, 2025 /PRNewswire/ — St. Regis Hotels & Resorts, synonymous with the world’s most coveted destinations, and Vilebrequin, icon of French Riviera style, recently debuted a limited-edition capsule collection of swimwear, accessories, and games. This summer, the collaboration arrives at select St. Regis properties in Greater China, powered by the St. Regis Family Traditions Program rooted in the spirited legacy of the Astor. Captivating guests of every generation, from the youngest on the family tree to the seasoned traveler, the partnership embodies what it means to truly Live Exquisite: from urban escapades to seaside adventures. With thoughtful touches like playful prints of resort vacation scenes, adventure-ready accessories, and timeless pieces in classic cabana stripes, it’s a celebration of family travel at its most joyful.

St. Regis Hotels & Resorts and Vilebrequin Launch Exclusive Capsule Collection Inspired by the Family Traditions Program
St. Regis Hotels & Resorts and Vilebrequin Launch Exclusive Capsule Collection Inspired by the Family Traditions Program

“The St. Regis legacy is built on the spirit of connection and cherished family moments, a tradition we are proud to continue here in Greater China,” said Bart Buiring, Managing Director, Luxury, Greater China, Marriott International. “Together with Vilebrequin, we are delighted to bring a refined yet playful experience to our guests in Hong Kong and Sanya. This collaboration not only elevates our Family Traditions program, but also creates memorable opportunities for families to gather and celebrate the joy of summer in two of the region’s most exceptional destinations.”

Following the beloved 2023 limited edition collaboration, this 2025 global iteration introduces a new pack of coastal essentials celebrating St. Regis Resorts the world-over, including boys’ and girls’ swimsuits, men’s swim trunks, women’s pareos, and a curated selection of beach games and accessories. Each piece is crafted in exclusive, custom-designed patterns and brought to life through one-of-a-kind illustrations and a new co-branded logo. The designs draw inspiration from the spirit of travel and timeless resort memories, featuring “Family Traditions,” a nostalgic print celebrating cherished moments from St. Regis Resorts around the world. “Family Stripes” is rendered in King Cole Red, a bespoke hue inspired by the iconic King Cole Bar at The St. Regis New York, birthplace of the legendary Bloody Mary. Thoughtfully designed family momentos are also present, including a wooden beach paddle set crafted from marine-printed plywood and featuring the Family Traditions motif; a beach bucket set adorned with the new Vilebrequin for St. Regis co-branded logo, and a plush cotton towel that serves as an essential complement to the collection’s swimwear.

The essence of luxury travel lies in unforgettable experiences, and St. Regis Hotels & Resorts are renowned as the setting for crafting moments that transcend the expected. To celebrate the launch, select St. Regis Hotels & Resorts in Greater China will unveil immersive activations that bring the Vilebrequin for St. Regis lifestyle to life.

A Splash of Fun in the Heart of Hong Kong 

This Asian metropolis comes alive under the summer sun. Nestled in the bustling Wan Chai district, The St. Regis Hong Kong serves as the ideal backdrop for families to spend quality time together. Through this collaboration with Vilebrequin, for a limited-time, guests booking the The Ultimate Family Staycation can enjoy exclusive poolside experiences with co-branded amenities, poolside dining, a curated in-room summer welcome amenity, complimentary rollaway bed, and an in-room kid’s tent. The partnership also shines through the hotel’s signature Afternoon Tea, where the Vilebrequin collection’s vibrant color palette is reflected in a curated selection of 16 pastries, including the Pistachio Cannele, Hojicha Madeleine, Citrus Tart and Smoked Salmon Sphere – a treat to both the eyes and palate.

Available until September 30, The Ultimate Family Staycation is priced from HKD $4,200* and can be booked via this booking link or call +852 2138 6888. Afternoon Tea is available until October 5 between 2:30 and 5:30pm, and is priced at HKD $478* per person and HKD $888 for two. For reservations, please visit this link or call +852 2138 6800.

*All listed prices are subject to 10% service charge

Embrace Coastal Bliss on the Shores of Sanya

The St. Regis Sanya Yalong Bay Resort, nestled along pristine beaches epitome of a tropical getaway. As part of the collaboration with Vilebrequin, the resort presents the Family Tradition Package, featuring a two-night stay at the Royal Seaside Pool Villa, co-branded welcome amenities, and a 60-minute spa session for two at Iridium spa. Guests can also indulge in an array of culinary delights: From starting the day with daily champagne breakfast at Driftwood Seafood Restaurant, to experiencing the St. Regis x Vilebrequin-themed Family set menu at the resort’s Central Signature Pool. Throughout the stay, guests can expect unforgettable experiences, all enhanced by the brand’s signature anticipatory service.  

Available from August 25 to December 20, the Family Tradition Package is priced at RMB 19,498* and can be booked by calling +86 0898 8855 5555.

The exclusive experiences at The St. Regis Hong Kong and The St. Regis Sanya Yalong Bay Resort complement collaborative activations at other St. Regis locations worldwide. Along the Indian Ocean, The St. Regis Bali and The St. Regis Langkawi offer tropical serenity, while The St. Regis Mallorca and The St. Regis Tamuda Bay bring coastal charm to the Mediterranean. In the Caribbean, The St. Regis Cap Cana delivers island luxury, and in the Middle East, The St. Regis Abu Dhabi, Corniche and The St. Regis Al Mouj Muscat Resort showcase modern glamour by the Gulf.

The Vilebrequin for St. Regis capsule collection will also be available at select Vilebrequin flagship stores worldwide. Premier destinations include New York, Miami, Mexico City, Cannes, London, Hong Kong, Singapore, Shanghai, Riyadh, and Dubai and will also be available for purchase online, exclusively at Vilebrequin.com. For guests seeking the ultimate family retreat, St. Regis’ collection of suites and multi-bedroom villas across resort destinations offer spacious accommodations, bespoke butler service, and tailored Family Traditions programming for all ages, which can be booked at St-Regis.Marriott.com.

About St. Regis Hotels & Resorts
Combining timeless glamour with a vanguard spirit, St. Regis Hotels & Resorts is committed to delivering exquisite experiences at more than 60 luxury hotels and resorts in the best addresses around the world. Beginning with the debut of The St. Regis Hotel in New York by John Jacob Astor IV at the dawn of the twentieth century, the brand has remained committed to an uncompromising level of bespoke and anticipatory service for all of its guests, delivered flawlessly by the signature St. Regis Butler Service. For more information and new openings, visit stregis.com or follow Instagram and FacebookSt. Regis is proud to participate in Marriott Bonvoy®, the global travel program from Marriott International. The program offers members an extraordinary portfolio of global brands, exclusive experiences on Marriott Bonvoy Moments , and unparalleled benefits including complimentary nights and Elite status recognition. To enroll for free or for more information about the program, visit marriottbonvoy.com.

About Vilebrequin 
After celebrating 50 years of vacation, the French swimwear icon feels energized to do more. The secrets to the House’s longevity? Joy, freedom, and the seductive charm of Saint-Tropez back in 1971. That, and an obsession with durable, high-quality tailoring you can vacation in for a lifetime. With a global presence in more than 62 countries, the House isn’t done perfecting the art of living in the sun all year long with a range going from ready-to-wear and accessories to beach games. Driven by innovation, Vilebrequin is focused on developing and implementing sustainable solutions, fabrics, and processes that make an impact on vacation, not on the oceans. This commitment is made even stronger by the launch of the new Foundation Vilebrequin for a better marine heritage.

Media contact:
Patrick Faden
Director, Luxury Brand PR & Communications, Greater China
Marriott International
Patrick.E.Faden@marriott.com    

Medulla Expands Global Footprint with Strategic Launch in Singapore

SINGAPORE, Aug. 14, 2025 /PRNewswire/ — Medulla Communications Pvt. Ltd., one of the world’s most awarded healthcare advertising agencies, has announced its expansion into Singapore, establishing a strategic hub to serve the Asia-Pacific region. Known for its expertise in solving healthcare challenges over 15 years, Medulla is looking to create a new super-specialist category as the first digital healthcare advertising agency in Asia.

In the image to the left is Managing Partner Taffy Ledesma and to the right is Praful Akali, Founder and Managing Director of Medulla Communications
In the image to the left is Managing Partner Taffy Ledesma and to the right is Praful Akali, Founder and Managing Director of Medulla Communications

Medulla is one of the rare healthcare-specialist agencies to win the world’s biggest awards for both creativity and marketing effectiveness, including Cannes Lions and Effies. This reinforces Medulla’s commitment to delivering comprehensive healthcare marketing services across the region, spanning brand strategy, ‘brand love’ campaigns, performance marketing, healthcare professional communications, CRM, patient support programs, and targeted digital campaigns.

“We’ve spent 15 years understanding and addressing the world’s healthcare challenges, working with brands in APAC through our global team. With our proven healthcare communication capabilities, we’re well-positioned to create meaningful impact across the region,” said Praful Akali, Founder and Managing Director of Medulla Communications.

Leading Medulla’s APAC operations as Managing Partner is Taffy Ledesma, a seasoned executive with extensive experience across healthcare, FMCG, and agency leadership. Taffy’s career began client side, working with Johnson & Johnson, Mead Johnson, and Unilever, before he transitioned to agency leadership roles—including Managing Director at DDB Indonesia and Country Head for Indonesia at Hello Health Group.

Taffy added, “My experience on both the client and agency sides of healthcare puts me in a strong position to be a true partner to our clients, ensuring their products and services reach the people they are intended to serve. My focus is on driving commercial effectiveness—and that’s what true partnerships achieve.”

Medulla has partnered with some global companies including Pfizer, Novartis, Ferring, Mylan, Braintap, and more. Medulla is poised to further its mission of delivering transformative healthcare marketing solutions across new frontiers.

About Medulla Communications:

Founded by Praful Akali in 2008, Medulla Communications has consistently been recognized as one of the top healthcare agencies globally. The agency has been honoured as the #1 Healthcare Agency of the Year at Cannes Lions in 2016 and secured a top three global ranking for three consecutive years (2015–2017).

Medulla has also been ranked as the #4 Most Effective Independent Agency globally by Effies, and the #4 Most Effective Specialist Agency globally by WARC.

For media inquiries, please contact: press@medulla.in | Website: www.medulla.agency

SEAMEO STEM-ED and Partners Highlight Two-Year SEA-TEP Program Success, Advancing STEM Teacher Education with Chevron’s Support


BANGKOK, THAILAND – Media OutReach Newswire – 14 August 2025 – The two-year Southeast Asian Teacher Education Programme (SEA-TEP), led by SEAMEO STEM-ED (The Southeast Asian Ministers of Education Organization Regional Centre for STEM Education) and regional partners, through the Chevron-funded education initiative marked a significant milestone in develop scalable model for STEM teacher education reform across Southeast Asia. The programme’s achievements were presented during the Thailand International Conference on Education Research (ThaiCER) 2025: The Education for the Future during 7th-9th August 2025, in Bangkok, Thailand, underscoring a pivotal step forward in strengthen the capacity of STEM education for both pre-service and in-service programmes, regional collaboration, and innovative instructional practices to prepare educators to meet the demand of 21st-century classrooms and international assessment benchmark.

SEA-TEP Final Sharing 2025
SEA-TEP Final Sharing 2025

Across Southeast Asia, education systems continue to face critical challenges in teacher preparation including limited access to high-quality pre-service training, insufficient integration of interdisciplinary integration, and a lack of effective, instructional resources. Addressing these systemic gaps creates an important opportunity to enhance high-quality STEM education across the region to meet the demands of rapidly changing world. In response to these challenges, the Southeast Asian Teacher Education Programme (SEA-TEP) was launched in March 2023 with implementation in Kazakhstan, Thailand, Cambodia, Indonesia and Malaysia. SEAMEO-STEM-ED works in partnership with SEAMEO SEAMOLEC, SEAMEO RECSAM, the National STEM Association Malaysia, Caravan of Knowledge, and Cambodia’s Ministry of Education and leading regional teacher education institutions to collaboratively deliver a model for transformative teacher development through across diverse education systems.

The SEA-TEP interventions introduce innovative instructional practices for pre-service and in-service teachers, ensuring the development of phenomenon-based STEM lessons that incorporate effective strategies and digital tools. These practices are closely aligned with the OECD’s PISA 2025 Science Framework.

SEA-TEP adopts instructional materials grounded in the United States’ Next Generation Science Standards (NGSS) while also responding to local classroom contexts—highlighting the importance of contextualizing STEM learning units. Participants learn to design lesson plans using the Claim–Evidence–Reasoning (CER) framework and modelling techniques. These approaches help students move beyond rote memorization, fostering evidence-based reasoning and critical thinking through curriculum innovation that reflects the competencies assessed by PISA.

Dr. Kessara Amornvuthivorn, SEAMEO STEM-ED’s Programme Director said, “The SEA-TEP model provides a structured approach to strengthening teacher education through collaboration across national and regional networks. By building the capacity of education leaders, SEA-TEP offers a scalable model for advancing STEM instruction. SEAMEO STEM-ED has partnered with implementation teams in five countries to enhance STEM teaching practices through the adoption of high-quality learning materials. The program has delivered professional development to more than 120 educators from 24 universities and teacher development institutes. Faculty members from these institutions have cascaded the training to over 1,500 pre-service and in-service teachers across 214 schools. By empowering both educators and institutions, SEA-TEP is contributing to the improvement of STEM teaching standards across participating countries and offering a promising model for regional collaboration in teacher education and development.”

Zamira Kanapyanova, General Manager, Corporate Affairs, Eurasia Pacific, Chevron added, “At Chevron, we believe that empowering educators with the right tools and resources is important for nurturing the next generation of innovators, engineers, and problem-solvers. Through strategic regional programs like SEA-TEP, we aim to strengthen the foundation of STEM learning and help build a more resilient and competitive workforce for the future.”

The implementation of SEA-TEP across Southeast Asia has resulted in measurable improvements in student learning outcomes. Participating teachers reported that the SEA-TEP strategies helped students connect abstract scientific concepts with real-world applications. Notably, teachers observed clearer, evidence-based reasoning in student work, especially when using CER tools in environmental investigations. Prior to SEA-TEP’s adoption, many students struggled to apply scientific principles to everyday contexts. Post-implementation, however, classroom experiences revealed marked growth: students now demonstrate the ability to design experiments, interpret data, and make informed decisions based on diverse evidence sources. A significant improvement was also observed in students’ ability to make well-founded claims supported by concrete evidence and scientific reasoning.

These insights from teacher feedback highlight how SEA-TEP not only aligns with global education goals but also empowers educators to cultivate inquiry-based learning environments—ensuring students are equipped with the critical thinking skills needed to navigate global challenges.

First Vice-Minister of Education, Maira Meldebekova of the Republic of Kazakhstan said “SEA-TEP program is an example of fruitful international cooperation and large-scale changes in education. Such initiatives make it possible to test new formats of work with teachers, adapt and scale best practices at the national level. Teacher training modules that incorporated best practices from participating countries contributed to developing STEM approaches among teachers in Kazakhstan and transformation of STEM education.

Ministry of Education of the Republic of Kazakhstan would like to extend our sincere gratitude to our strategic partners for their contribution to development of practical and cross-functional approaches to education”.

The success of SEA-TEP lays a strong foundation for advancing policy integration in STEM teacher education across Southeast Asia and Kazakhstan. To ensure long-term impact, early engagement with decision-makers is key. In Kazakhstan, Policy recommendations emerging from the programme include revising national educational standards to promote interdisciplinary learning at the secondary level and establishing government-endorsed registries of certified STEM trainers. In response to a ministerial decree promoting innovation infrastructure within teacher training institutions, Ualikhanov University and Caravan of Knowledge are establishing a STEAM Competence Center to deliver high-quality professional development focused on STEM innovations. Furthermore, fostering regional professional learning communities (PLCs) is critical to ensure targeted teaching support and instructional leadership. These policy directions highlight how SEA-TEP model can serve as a strategic enabler for systemic STEM teacher education reform throughout Southeast Asia and Kazakhstan.

Following the regional sharing and reflection session, SEA-TEP’s final stage now focuses on consolidating key research insights, capturing best practices, and informing long-term strategies for sustainability and policy adoption. The success of SEA-TEP continues to serve as a path for advancing high-quality STEM teacher education across Southeast Asia and beyond.
Hashtag: #SEAMEOSTEMED #STEM #TEACHER #EDUCATION #SEATEP #CHEVRON

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

SM Investments H1 net income rises 6% to PHP42.6 billion

PASAY CITY, Philippines, Aug. 14, 2025 /PRNewswire/ — SM Investments Corporation (SM Investments) posted a consolidated net income of PHP42.6 billion in the first half of 2025, a 6% increase from PHP40.2 billion in the same period last year.

Consolidated revenues for the January to June period rose 6% to PHP319.2 billion, up from PHP301.4 billion in the first half of 2024.

“We continue to see steady growth across our core businesses, supported by favorable macroeconomic conditions in the Philippines,” said Frederic C. DyBuncio, President and Chief Executive Officer of SM Investments Corporation. “Bank lending remains strong, and consumer spending in our malls and retail stores continues to rise.  “The Philippine economy was steady at 5.4% growth in the first quarter, while inflation has eased to its lowest level since 2019, creating a more supportive environment for both corporates and consumers. Despite global trade uncertainties, overall sentiment remains positive, and we share that optimism for the remainder of the year.”

Banking accounted for 50% of reported net earnings, followed by property at 28%, retail at 15% and portfolio investments at 7%.

Retail

SM Retail net income grew 10% to PHP8.4 billion from PHP7.6 billion in the same period last year. Revenues were up 8% to PHP211.8 billion from PHP196.3 billion.

In non-food retail, revenues of the department store grew by 11%, marked by a shift in the school opening to the second quarter.

Revenues for specialty retail grew 5%, fueled by spending on stationery or back-to-school items, fashion as well as health and beauty categories.

Food retail revenues increased 8% to PHP127.1 billion due to store expansion and volume growth.

Banking

BDO Unibank, Inc. reported net income increased to PHP40.6 billion, up 3% from PHP39.4 billion in the same period last year supported by strong performance from its core businesses. 

China Banking Corporation posted PHP13.0 billion in net income, up 14% on the back of strong core business growth. Net interest income increased by 15% to PHP34.9 billion on higher asset yields and loan volume.

Property

SM Prime Holdings, Inc. (SM Prime) reported first-half net income rose 11% growth to an all-time high of PHP24.5 billion, driven by higher rental income, real estate sales and ancillary revenues.

Portfolio Investments

In the first half, the portfolio investments’ performance was driven by Philippine Geothermal Production Company which contributed 35% of total portfolio income, followed by NEO with 30% and 2GO with 16%.

Balance Sheet

Total assets of SM Investments stood at PHP1.7 trillion, up 2%. Gearing ratio remained conservative at 32% net debt to 68% equity.

About SM Investments Corporation

SM Investments Corporation is one of the leading Philippine companies that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.

SM’s retail operations are the country’s largest and most diversified, consisting of grocery stores, department stores and specialty retail stores. SM’s property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels, and convention centers as well as tourism-related property developments. SM’s interests in banking are in BDO Unibank, Inc., the country’s largest bank, and China Banking Corporation, the fourth largest private domestic bank.

For more information, please visit www.sminvestments.com

Zeekr Group Reports Second Quarter 2025 Unaudited Financial Results

HANGZHOU, China, Aug. 14, 2025 /PRNewswire/ — ZEEKR Intelligent Technology Holding Limited (“Zeekr Group” or the “Company”) (NYSE: ZK), the world’s leading premium new energy vehicle group, today announced its unaudited financial results for the second quarter ended June 30, 2025.[1]

Operating Highlights for the Second Quarter of 2025

  • Total vehicle deliveries were 130,866 units for the second quarter of 2025, representing a 9.3% year-over-year increase and a 14.8% quarter-over-quarter increase. The Zeekr brand delivered 49,337 vehicles. Meanwhile, the Lynk & Co brand delivered 81,529 vehicles, with 58.8% of deliveries coming from NEV models.

Deliveries

2025 Q2

2025 Q1

2024 Q4

2024 Q3

130,866

114,011

169,088

124,606

Deliveries

2024 Q2

2024 Q1

2023 Q4

2023 Q3

119,755

94,115

120,114

94,151

Financial Highlights for the Second Quarter of 2025

  • Vehicle sales were RMB22,916 million (US$3,199 million)[2] for the second quarter of 2025, representing an increase of 2.2% from the second quarter of 2024 and an increase of 20.0% from the first quarter of 2025.
  • Vehicle margin[3] was 17.3% for the second quarter of 2025, compared with 11.5% for the second quarter of 2024 and 16.5% for the first quarter of 2025.
  • Total revenues were RMB27,431 million (US$3,829 million) for the second quarter of 2025, representing a decrease of 0.9% from the second quarter of 2024 and an increase of 24.6% from the first quarter of 2025.
  • Gross profit was RMB5,656 million (US$789 million) for the second quarter of 2025, representing an increase of 13.3% from the second quarter of 2024 and an increase of 34.3% from the first quarter of 2025.
  • Gross margin was 20.6% for the second quarter of 2025, compared with 18.0% for the second quarter of 2024 and 19.1% for the first quarter of 2025.
  • Income from operations was RMB285 million (US$39 million) for the second quarter of 2025, compared with RMB2,269 million loss from operations in the second quarter of 2024 and RMB1,259 million loss from operations in the first quarter of 2025. Excluding share-based compensation expenses, adjusted income from operations (non-GAAP)[4] was RMB315 million (US$43 million) for the second quarter of 2025, compared with RMB1,325 million non-GAAP loss from operations in the second quarter of 2024 and RMB1,136 million non-GAAP loss from operations in the first quarter of 2025.
  • Net loss was RMB287 million (US$40 million) for the second quarter of 2025, representing a decrease of 88.8% from the second quarter of 2024 and a decrease of 62.4% from the first quarter of 2025. Excluding share-based compensation expenses, adjusted net loss (non-GAAP)[4] was RMB257 million (US$36 million) for the second quarter of 2025, representing a decrease of 84.2% from the second quarter of 2024 and a decrease of 59.8% from the first quarter of 2025.

[1] All disclosed data (including historical periods) were recast to reflect common-control accounting treatment related to Lynk & Co’s acquisition.

[2] All conversions from Renminbi(“RMB”) to U.S. dollars (“US$”) were made at an exchange rate of RMB7.1636 to US$1.00, as set forth in the H.10 statistical release of the Federal Reserve Board on June 30, 2025.

[3] Vehicle margin is the margin of vehicle sales, which is calculated based on revenues and cost of revenues derived from vehicle sales only.

[4] The Company’s non-GAAP financial measures exclude share-based compensation expenses. See “Unaudited Reconciliation of GAAP and Non-GAAP Results” set forth at the end of this announcement.

Key Financial Results for the Second Quarter of 2025

(in RMB millions, except for percentages)

2025 Q2

2025 Q1

2024 Q2

% Changei 

YoY

QoQ

Vehicle sales

22,916

19,096

22,433

2.2 %

20.0 %

 -Zeekr

10,925

9,987

13,438

(18.7) %

9.4 %

 – Lynk & Co

11,991

9,109

8,995

33.3 %

31.6 %

Vehicle margin

17.3 %

16.5 %

11.5 %

5.8pts

0.8pts

 -Zeekr

21.1 %

21.2 %

14.2 %

6.9pts

(0.1)pts

 – Lynk & Co

13.8 %

11.4 %

7.6 %

6.2pts

2.4pts

Total revenues

27,431

22,019

27,671

(0.9) %

24.6 %

Gross profit

5,656

4,213

4,994

13.3 %

34.3 %

Gross margin

20.6 %

19.1 %

18.0 %

2.6pts

1.5pts

Income/(loss) from operations

285

(1,259)

(2,269)

N/A

N/A

Non-GAAP income/(loss) from

operations

315

(1,136)

(1,325)

N/A

N/A

Net loss

(287)

(763)

(2,569)

(88.8) %

(62.4) %

Non-GAAP net loss

(257)

(640)

(1,625)

(84.2) %

(59.8) %

i

Except for vehicle margin and gross margin, absolute changes instead of percentage changes are presented.

Recent Developments

Delivery Update

In July, Zeekr Group delivered a total of 44,193 vehicles across its Zeekr and Lynk & Co brands, marking a 2.7% increase compared to the previous month. This achievement was made possible by the trust and support of over 2 million users. Specifically, the Zeekr brand delivered 16,977 vehicles, while Lynk & Co brand delivered 27,216 vehicles.

New Model Launches

On July 9, 2025, Zeekr debuted its revolutionary Super Hybrid Technologies in Wuzhen, China. This system sets new standards for long-range plug-in hybrid technologies including best-in-class charging and acceleration speeds, as well as luxury noise and vibration control, enhancing both highway cruising and urban experiences. Built on the Company’s groundbreaking SEA-S platform, the Zeekr Super Hybrid System features a revolutionary 900V high-voltage architecture, tri-silicon carbide-powered e-motors and a CATL Freevoy Super Hybrid battery. This powerful combination enables passengers to enjoy quiet city journeys and confidently transition to high-performance or long-distance driving, free of range anxiety.

The recently unveiled Zeekr 9X is the first model in the Zeekr lineup to incorporate this technology. Boasting a 70kWh battery pack with a 380km range per CLTC (model specific), as well as an all-new, turbocharged 2.0T engine with peak power output of 205 kW (275 hp) and thermal efficiency over 46%, Zeekr 9X delivers a performance that is normally only found in super luxury premium models. Zeekr 9X will commence deliveries in the third quarter of 2025.

Financial Results for the Second Quarter of 2025

Revenues

  • Total revenues were RMB27,431 million (US$3,829 million) for the second quarter of 2025, representing a decrease of 0.9% from RMB27,671 million for the second quarter of 2024 and an increase of 24.6% from RMB22,019 million for the first quarter of 2025.
  • Revenues from vehicle sales were RMB22,916 million (US$3,199 million) for the second quarter of 2025, representing an increase of 2.2% from RMB22,433 million for the second quarter of 2024, and an increase of 20.0% from RMB19,096 million for the first quarter of 2025. The year-over-year increase was mainly driven by higher sales volume of the Lynk & Co brand, partially offset by lower sales volume of the Zeekr brand. The quarter-over-quarter increase was mainly driven by sales growth resulting from the launch of new models during the second quarter of 2025.
  • Revenues from other sales and services were RMB4,515 million (US$630 million) for the second quarter of 2025, representing a decrease of 13.8% from RMB5,238 million for the second quarter of 2024 and an increase of 54.5% from RMB2,923 million for the first quarter of 2025. The year-over-year decrease was primarily due to a decrease in R&D revenue from related parties in the second quarter of 2025. The quarter-over-quarter increase was mainly due to the increased overseas sales of battery packs and electric drives since May 2025.

Cost of Revenues and Gross Margin

  • Cost of revenues was RMB21,775 million (US$3,040 million) for the second quarter of 2025, representing a decrease of 4.0% from RMB22,677 million for the second quarter of 2024 and an increase of 22.3% from RMB17,806 million for the first quarter of 2025. The year-over-year decrease was primarily attributable to the ongoing vehicle cost-saving initiatives. The quarter-over-quarter increase was mainly due to the increased vehicle delivery volume.
  • Gross profit was RMB5,656 million (US$789 million) for the second quarter of 2025, representing an increase of 13.3% from RMB4,994 million for the second quarter of 2024 and an increase of 34.3% from RMB4,213 million for the first quarter of 2025.
  • Gross margin was 20.6% for the second quarter of 2025, compared with 18.0% for the second quarter of 2024 and 19.1% for the first quarter of 2025.
  • Vehicle margin was 17.3% for the second quarter of 2025, compared with 11.5% for the second quarter of 2024 and 16.5% for the first quarter of 2025. The year-over-year and quarter-over-quarter increases were primarily attributed to sustained cost-saving initiatives.

Operating Expenses

  • Research and development expenses were RMB2,146 million (US$300 million) for the second quarter of 2025, representing a decrease of 42.9% from RMB3,760 million for the second quarter of 2024 and a decrease of 26.2% from RMB2,908 million for the first quarter of 2025. The year-over-year and quarter-over-quarter decreases were mainly driven by economies of scale resulting from business integration, partially offset by expanded technological investments for vehicle models.
  • Selling, general and administrative expenses were RMB3,364 million (US$469 million) for the second quarter of 2025, representing a decrease of 9.7% from RMB3,725 million for the second quarter of 2024 and an increase of 27.2% from RMB2,645 million for the first quarter of 2025. The year-over-year decrease was mainly driven by economies of scale generated following the Zeekr and Lynk & Co business integration. The quarter-over-quarter increase was primarily attributable to higher marketing and advertising expenses to support new vehicle model launches and sales growth.

Income/(Loss) from Operations

  • Income from operations was RMB285 million (US$39 million) for the second quarter of 2025, compared with RMB2,269 million loss from operations in the second quarter of 2024 and RMB1,259 million loss from operations in the first quarter of 2025.
  • Non-GAAP income from operations, which excludes share-based compensation expenses from income/(loss) from operations, was RMB315 million (US$43 million) for the second quarter of 2025, compared with RMB1,325 million non-GAAP loss from operations in the second quarter of 2024 and RM1,136 million non-GAAP loss from operations in the first quarter of 2025.

Net Loss and Net Loss Per Share

  • Net loss was RMB287 million (US$40 million) for the second quarter of 2025, representing a decrease of 88.8% from RMB2,569 million for the second quarter of 2024 and a decrease of 62.4% from RMB763 million for the first quarter of 2025.
  • Non-GAAP net loss, which excludes share-based compensation expenses from net loss, was RMB257 million (US$36 million) for the second quarter of 2025, representing a decrease of 84.2% from RMB1,625 million for the second quarter of 2024 and a decrease of 59.8% from RMB640 million for the first quarter of 2025.
  • Net loss attributable to ordinary shareholders of Zeekr Group was RMB394 million (US$55 million) for the second quarter of 2025, representing a decrease of 86.3% from RMB2,876 million for the second quarter of 2024 and a decrease of 45.1% from RMB718 million for the first quarter of 2025.
  • Non-GAAP net loss attributable to ordinary shareholders of Zeekr Group, which excludes share-based compensation expenses from net loss attributable to ordinary shareholders, was RMB364 million (US$51 million) for the second quarter of 2025, representing a decrease of 81.2% from RMB1,932 million for the second quarter of 2024 and a decrease of 38.8% from RMB595 million for the first quarter of 2025.
  • Basic and diluted net loss per share attributed to ordinary shareholders were both RMB0.15 (US$0.02) for the second quarter of 2025, compared with RMB1.25 each for the second quarter of 2024 and RMB0.28 each for the first quarter of 2025.
  • Non-GAAP basic and diluted net loss per share attributed to ordinary shareholders were both RMB0.14 (US$0.02) for the second quarter of 2025, compared with RMB0.84 each for the second quarter of 2024 and RMB0.23 each for the first quarter of 2025.
  • Basic and diluted net loss per American Depositary Share[5] (“ADS”) attributed to ordinary shareholders were both RMB1.54 (US$0.21) for the second quarter of 2025, compared with RMB12.49 each for the second quarter of 2024 and RMB2.81 each for the first quarter of 2025.
  • Non-GAAP basic and diluted net loss per ADS attributed to ordinary shareholders were both RMB1.42 (US$0.20) for the second quarter of 2025, compared with RMB8.39 each for the second quarter of 2024 and RMB2.33 each for the first quarter of 2025.

[5] Each ADS represents ten ordinary shares.

Balance Sheets

Cash and cash equivalents and restricted cash was RMB10,210 million (US$1,425 million) as of June 30, 2025.

About Zeekr Group

Zeekr Group, headquartered in Zhejiang, China, is the world’s leading premium new energy vehicle group from Geely Holding Group. With two brands, Lynk & Co and Zeekr, Zeekr Group aims to create a fully integrated user ecosystem with innovation as a standard. Utilizing its state-of-the-art facilities and world-class expertise, Zeekr Group is developing its own software systems, e-powertrain, and electric vehicle supply chain. Zeekr Group’s values are equality, diversity, and sustainability. Its ambition is to become a true global new energy mobility solution provider.

For more information, please visit https://ir.zeekrgroup.com.

Non-GAAP Financial Measures

The Company uses non-GAAP financial measures, such as non-GAAP income/(loss) from operations, non-GAAP net loss, non-GAAP net loss attributable to ordinary shareholders, non-GAAP basic and diluted net loss per ordinary share attributed to ordinary shareholders, non-GAAP basic and diluted net loss per ADS attributed to ordinary shareholders, in evaluating its operating results and for financial and operational decision-making purposes. By excluding the impact of share-based compensation expenses, the Company believes that the non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company’s past performance and future prospects. The Company also believes that the non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making. The non-GAAP financial measures are not presented in accordance with U.S. GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. The non-GAAP financial measures have limitations as analytical tools and when assessing the Company’s operating performance, investors should not consider them in isolation, or as a substitute for net loss or other consolidated statements of comprehensive loss data prepared in accordance with U.S. GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company’s performance.

For more information on the non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of GAAP and non-GAAP Results” set forth in this announcement.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB7.1636 to US$1.00, the exchange rate on June 30, 2025, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollar amounts referred to could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all.

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. Statements that are not historical facts, including statements about the Company’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. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “future,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to,” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this announcement is as of the date of this announcement, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor Relations Contact

In China:
ZEEKR Intelligent Technology Holding Limited
Investor Relations
Email: ir@zeekrlife.com

Piacente Financial Communications
Tel: +86-10-6508-0677
Email: Zeekr@thepiacentegroup.com

In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: Zeekr@thepiacentegroup.com

Media Contact

Email: Globalcomms@zeekrgroup.com

 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in millions)

As of

December 31

June 30

June 30

2024

2025

2025

RMB

RMB

US$

ASSETS

Current assets:

Cash and cash equivalents

9,897

8,088

1,129

Restricted cash

1,491

2,122

296

Notes receivable

12,268

6,618

924

Accounts receivable

2,344

2,873

401

Inventories

10,388

8,007

1,118

Amounts due from related parties

9,821

11,036

1,541

Prepayments and other current assets

4,654

5,870

819

Total current assets

50,863

44,614

6,228

Property, plant and equipment, net

10,984

10,502

1,466

Intangible assets, net

1,346

1,426

199

Land use rights, net

506

500

70

Operating lease right-of-use assets

3,008

2,817

393

Deferred tax assets

340

513

72

Long-term investments

688

967

135

Other non-current assets

477

492

69

Total non-current assets

17,349

17,217

2,404

TOTAL ASSETS

68,212

61,831

8,632

 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(Amounts in millions)

As of

December 31

June 30

June 30

2024

2025

2025

RMB

RMB

US$

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Short-term borrowings

1,353

9,129

1,274

Accounts payable

15,899

14,832

2,070

Notes payable and others

23,391

18,056

2,520

Amounts due to related parties

19,099

19,523

2,725

Income tax payable

98

316

44

Accruals and other current liabilities

15,455

13,570

1,896

Total current liabilities

75,295

75,426

10,529

Long-term borrowings

2,727

7,278

1,016

Operating lease liabilities, non-current

2,137

1,946

272

Other non-current liabilities

2,191

2,380

333

Deferred tax liability

57

58

8

Total non-current liabilities

7,112

11,662

1,629

TOTAL LIABILITIES

82,407

87,088

12,158

SHAREHOLDERS’ EQUITY

Ordinary shares

3

3

0

Paid-in capital in combined companies

7,669

0

0

Additional paid-in capital

15,763

10,542

1,472

Treasury stock

(187)

(193)

(27)

Accumulated deficits

(38,894)

(34,346)

(4,795)

Accumulated other comprehensive income

(142)

(63)

(9)

Total Zeekr Group shareholders’ deficit

(15,788)

(24,057)

(3,359)

Non-controlling interest

1,593

(1,200)

(167)

TOTAL SHAREHOLDERS’ DEFICIT

(14,195)

(25,257)

(3,526)

TOTAL LIABILITIES AND SHAREHOLDERS’

EQUITY 

68,212

61,831

8,632

 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE

(LOSS)/INCOME

(Amounts in millions, except share/ADS and per share/ADS data and otherwise noted)

Three Months Ended

June 30

March 31

June 30

June 30

2024

2025

2025

2025

RMB

RMB

RMB

US$

Revenues:

Vehicle sales

22,433

19,096

22,916

3,199

Other sales and services

5,238

2,923

4,515

630

Total revenues

27,671

22,019

27,431

3,829

Cost of revenues:

Vehicle sales

(19,847)

(15,948)

(18,953)

(2,646)

Other sales and services

(2,830)

(1,858)

(2,822)

(394)

Total cost of revenues

(22,677)

(17,806)

(21,775)

(3,040)

Gross profit

4,994

4,213

5,656

789

Operating expenses:

Research and development expenses

(3,760)

(2,908)

(2,146)

(300)

Selling, general and administrative

expenses

(3,725)

(2,645)

(3,364)

(469)

Other operating income, net

222

81

139

19

Total operating expenses

(7,263)

(5,472)

(5,371)

(750)

(Loss)/income from operations

(2,269)

(1,259)

285

39

Interest expense

(139)

(116)

(108)

(15)

Interest income

103

45

37

5

Other (expense)/income, net

(97)

593

(292)

(40)

Loss before income tax expense and

share of losses in equity method

investments

(2,402)

(737)

(78)

(11)

Share of income in equity method

investments

86

128

151

21

Income tax expense

(253)

(154)

(360)

(50)

Net loss

(2,569)

(763)

(287)

(40)

Less: income/(loss) attributable to non-

controlling interest

307

(45)

107

15

Net loss attributable to shareholders of

Zeekr Group

(2,876)

(718)

(394)

(55)

 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE

(LOSS)/INCOME (CONTINUED)

(Amounts in millions, except share/ADS and per share/ADS data and otherwise noted)

Three Months Ended

June 30

March 31

June 30

June 30

2024

2025

2025

2025

RMB

RMB

RMB

US$

Net loss per share attributed to

ordinary shareholders:

Basic and diluted

(1.25)

(0.28)

(0.15)

(0.02)

Weighted average shares used in

calculating net loss per share:

Basic and diluted

2,301,866,887

2,552,901,668

2,561,060,669

2,561,060,669

Net loss per ADS attributed to

ordinary shareholders:

Basic and diluted

(12.49)

(2.81)

(1.54)

(0.21)

Weighted average ADS used in

calculating net loss per ADS:

Basic and diluted

230,186,689

255,290,167

256,106,067

256,106,067

Net loss

(2,569)

(763)

(287)

(40)

Other comprehensive income/(loss),

net of tax of nil:

Foreign currency translation

adjustments

109

19

(22)

(3)

Comprehensive loss

(2,460)

(744)

(309)

(43)

Less: comprehensive income/(loss)

attributable to non-controlling interest

218

(68)

107

15

Comprehensive loss attributable to

shareholders of Zeekr Group 

(2,678)

(676)

(416)

(58)

 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE

(LOSS)/INCOME

(Amounts in millions, except share/ADS and per share/ADS data and otherwise noted)

Six Months Ended

June 30

June 30

June 30

2024

2025

2025

RMB

RMB

US$

Revenues:

Vehicle sales

38,883

42,012

5,865

Other sales and services

10,569

7,438

1,039

Total revenues

49,452

49,450

6,904

Cost of revenues:

Vehicle sales

(34,144)

(34,901)

(4,872)

Other sales and services

(6,769)

(4,680)

(654)

Total cost of revenues

(40,913)

(39,581)

(5,526)

Gross profit

8,539

9,869

1,378

Operating expenses:

Research and development expenses

(6,086)

(5,054)

(705)

Selling, general and administrative expenses

(6,638)

(6,009)

(839)

Other operating income, net

222

220

31

Total operating expenses

(12,502)

(10,843)

(1,513)

Loss from operations

(3,963)

(974)

(135)

Interest expense

(287)

(224)

(31)

Interest income

181

82

11

Other (expense)/income, net

(237)

301

42

Loss before income tax expense and share of

losses in equity method investments

(4,306)

(815)

(113)

Share of income in equity method investments

177

279

39

Income tax expense

(355)

(514)

(72)

Net loss

(4,484)

(1,050)

(146)

Less: income attributable to non-controlling

interest

374

62

9

Net loss attributable to shareholders of Zeekr

Group

(4,858)

(1,112)

(155)

 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE

(LOSS)/INCOME (CONTINUED)

(Amounts in millions, except share/ADS and per share/ADS data and otherwise noted)

Six Months Ended

June 30

June 30

June 30

2024

2025

2025

RMB

RMB

US$

Net loss per share attributed to ordinary shareholders:

Basic and diluted

(2.26)

(0.43)

(0.06)

Weighted average shares used in calculating net loss per share:

Basic and diluted

2,150,933,444

2,557,003,707

2,557,003,707

Net loss per ADS attributed to ordinary shareholders:

Basic and diluted

(22.59)

(4.35)

(0.61)

Weighted average ADS used in calculating net loss per ADS:

Basic and diluted

215,093,344

255,700,371

255,700,371

Net loss

(4,484)

(1,050)

(146)

Other comprehensive income, net of tax of nil:

Foreign currency translation adjustments

247

(3)

0

Comprehensive loss

(4,237)

(1,053)

(146)

Less: comprehensive income attributable to non-controlling interest

374

39

5

Comprehensive loss attributable to shareholders of Zeekr Group

(4,611)

(1,092)

(151)

 

ZEEKR INC.

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(Amounts in millions, except share/ADS and per share/ADS data and otherwise noted)

Three Months Ended

June 30

March 31

June 30

June 30

2024

2025

2025

2025

RMB

RMB

RMB

US$

(Loss)/income from operations

(2,269)

(1,259)

285

39

Share-based compensation expenses

944

123

30

4

Non-GAAP (loss)/income from

operations

(1,325)

(1,136)

315

43

Net loss

(2,569)

(763)

(287)

(40)

Share-based compensation expenses

944

123

30

4

Non-GAAP net loss

(1,625)

(640)

(257)

(36)

Net loss attributable to ordinary

shareholders

(2,876)

(718)

(394)

(55)

Share-based compensation expenses

944

123

30

4

Non-GAAP net loss attributable to

ordinary shareholders of Zeekr

Group 

(1,932)

(595)

(364)

(51)

Weighted average number of

ordinary shares used in calculating

Non-GAAP net loss per share

Basic and diluted

2,301,866,887

2,552,901,668

2,561,060,669

2,561,060,669

Non-GAAP net loss per ordinary

share attributed to ordinary

shareholders

Basic and diluted

(0.84)

(0.23)

(0.14)

(0.02)

Weighted average number of ADS

used in calculating Non-GAAP net

loss per ADS

Basic and diluted

230,186,689

255,290,167

256,106,067

256,106,067

Non-GAAP net loss per ADS

attributed to ordinary shareholders

Basic and diluted

(8.39)

(2.33)

(1.42)

(0.20)

 

ZEEKR INC.

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(Amounts in millions, except share and per share data and otherwise noted)

Six Months Ended

June 30

June 30

June 30

2024

2025

2025

RMB

RMB

US$

Loss from operations

(3,963)

(974)

(135)

Share-based compensation expenses

947

153

21

Non-GAAP loss from operations

(3,016)

(821)

(114)

Net loss

(4,484)

(1,050)

(146)

Share-based compensation expenses

947

153

21

Non-GAAP net loss

(3,537)

(897)

(125)

Net loss attributable to ordinary shareholders

(4,858)

(1,112)

(155)

Share-based compensation expenses

947

153

21

Non-GAAP net loss attributable to

ordinary shareholders of Zeekr Group 

(3,911)

(959)

(134)

Weighted average number of ordinary

shares used in calculating Non-GAAP net

loss per share

Basic and diluted

2,150,933,444

2,557,003,707

2,557,003,707

Non-GAAP net loss per ordinary share

attributed to ordinary shareholders

Basic and diluted

(1.82)

(0.38)

(0.05)

Weighted average number of ADS

used in calculating Non-GAAP net loss per ADS

Basic and diluted

215,093,344

255,700,371

255,700,371

Non-GAAP net loss per ADS attributed to

ordinary shareholders

Basic and diluted

(18.18)

(3.75)

(0.52)

 

Gentari Breaks Ground on Maryvale Solar & Energy Storage Project

Paving the way for dispatchable clean energy in New South Wales


SYDNEY, AUSTRALIA – Media OutReach Newswire – 14 August 2025 – Clean energy solutions provider Gentari yesterday marked the groundbreaking of the Maryvale Solar & Energy Storage project (Project Maryvale), a key milestone in delivering reliable, low-carbon energy for New South Wales (NSW).

Gentari & PCL leaders break ground at Maryvale Solar & Energy Storage Facility
Gentari & PCL leaders break ground at Maryvale Solar & Energy Storage Facility

Project Maryvale is a next-generation hybrid renewable energy facility that integrates a 243 MWp solar installation with a 172 MW/409 MWh battery energy storage system (BESS). Once operational, it can deliver up to 172 MW of dispatchable clean electricity – enough to power around 82,000 homes annually – while helping to avoid up to 615,000 tonnes of carbon emissions each year. At the peak of construction, the project is expected to create up to 360 jobs and unlock local opportunities across the regional supply chain.

“Project Maryvale represents our commitment to accelerating Australia’s energy transition with reliable, dispatchable renewable energy,” said Claire Elkin, Head of Gentari Australia. “As one of the first large-scale DC-coupled solar and storage projects in the country it embodies our ambition to deliver clean energy solutions at scale while supporting grid resilience.”

Secured under NSW’s Electricity Infrastructure Roadmap

Project Maryvale was awarded a Long-Term Energy Service Agreement (LTESA) under the NSW Government’s Electricity Infrastructure Roadmap. Administered by ASL as the NSW Consumer Trustee, the LTESA provides financial certainty through an option of an energy price floor. This mechanism helps to de-risk the project and facilitate financing.

The project is strategically located within the Central-West Orana REZ – one of the priority zones identified by the NSW Government to accelerate renewable energy development. This region offers strong solar resources and is designed to accommodate large-scale generation and supporting infrastructure.

Maximising the Value of Green Energy

The Maryvale Solar & Energy Storage System will support a reliable renewable energy by enhancing grid stability and efficiency. The system will offer dispatchable renewable energy by firming its own solar output and dispatching it into the grid when it is most needed.

Additionally, the system can provide essential ancillary services, which are critical for maintaining grid stability. Together, these functionalities position the BESS as an asset not only for project economics but for overall grid resilience.

Leading Deployment of DC-Coupled Hybrid Solutions

Project Maryvale stands as one of the largest DC-coupled solar and battery hybrid projects under construction and represents a significant step forward in the integration of renewable energy and storage technologies. The DC-coupled solar and storage allows the project to maximise excess solar generation by directly charging the BESS while delivering smoother, scheduled generation.

Social Impact and Local Engagement

Gentari is committed to delivering lasting value to the local Maryvale community. This includes establishing a community benefit fund, investing in workforce and industry capability development, and supporting regional infrastructure and housing initiatives in collaboration with local authorities.

Through ongoing engagement with First Nations communities, local businesses, education providers, and government stakeholders, Gentari aims to foster inclusive participation and build long-term partnerships based on trust, openness, and shared benefit.

Project Maryvale adds to Gentari’s clean energy portfolio in Australia, which now includes 814 MW of solar and solar hybrid projects installed and under construction across the country.

The project is being delivered by PCL Construction’s Solar Division, appointed as the EPC contractor, while the PV modules and BESS system are being free-issued through direct procurement from Tier 1 suppliers — Trinasolar for the solar modules and Contemporary Amperex Technology Australia Pty Ltd , a globally recognised OEM, for the BESS. Notice to Proceed on the construction of this project was given in January 2025 and construction on site is now underway.Hashtag: #Gentari #ProjectMaryvale #SolarEnergy #BatteryStorage #RenewableEnergy #CleanEnergy #EnergyTransition #NetZero #AustraliaEnergy #GreenInfrastructure

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

About Gentari

Gentari is focused on delivering the solutions required to put clean energy into action today, to transform how we live tomorrow. Gentari’s three initial core pillars of Renewable Energy, Hydrogen and Green Mobility form a comprehensive portfolio of solutions to help customers in their decarbonisation journey. Its mission is to be the leading Commercial and Industrial (C&I) and utility-scale renewable energy developer, a scale hydrogen producer and go-to industry partner, and Asia Pacific’s leading green mobility solutions partner. In the long term, Gentari aims to be the most valued clean energy solutions partner, creating greater impact, connecting businesses, and making the journey to a net zero future possible.

Gentari is a leading owner and operator of utility-scale solar farms and storage investments. With approximately 814 MW of solar and solar hybrid projects installed and under construction across the country, including one of the largest solar farms in Victoria, Gentari is a key player in Australia’s renewable energy landscape.

Everest Medicines Announces Acceptance of the New Drug Application for VELSIPITY® by the Taiwan Food and Drug Administration for the Treatment of Moderately to Severely Active Ulcerative Colitis

SHANGHAI, Aug. 14, 2025 /PRNewswire/ — Everest Medicines (HKEX 1952.HK, “Everest”, or the “Company”), a biopharmaceutical company focused on the discovery, clinical development, manufacturing and commercialization of innovative therapeutics, today announced that the Taiwan Food and Drug Administration (TFDA) has officially accepted the New Drug Application (NDA) for VELSIPITY® (etrasimod) for the treatment of patients with moderately to severely active ulcerative colitis (UC).

Building on prior approvals in Singapore, Hong Kong SAR, and Macao SAR, as well as NDA acceptance in South Korea, this marks significant progress in the commercialization of VELSIPITY® across Asia. In December 2024, China’s National Medical Products Administration (NMPA) officially accepted the NDA for VELSIPITY®.

As a next-generation selective S1P receptor modulator, once-daily oral etrasimod demonstrates robust efficacy across multiple endpoints, including clinical remission, mucosal healing, endoscopic normalization and histological remission. Its clinical value has been robustly demonstrated in multiple global Phase III studies, including ELEVATE UC 52, ELEVATE UC 12 and ENLIGHT (ES101002) studies.

“The NDA acceptance for VELSIPITY® in Taiwan, China marks another key progress in our commercialization pathway across Asia. As the number of UC patients in Asia continues to rise, there remains a significant unmet medical need. In China alone, there were approximately 800,000 patients with UC in 2024, and the number is estimated to reach 1 million by 2030. UC patients face the dual challenges of long-term treatment and maintaining quality of life.” said Rogers Yongqing Luo, Chief Executive Officer of Everest Medicines. “This NDA acceptance underscores the clinical value of VELSIPITY®. We remain committed to accelerating access to this innovative therapy in Mainland China and other Asian markets, supporting long-term disease management while enhancing patients’ quality of life.”

The clinical part submitted to TFDA is mainly based on results from the ELEVATE UC Phase 3 registrational program (ELEVATE UC 52 and ELEVATE UC 12) and the ENLIGHT study (ES101002). The ELEVATE UC Phase 3 registrational program evaluated the safety and efficacy of etrasimod 2 mg once-daily on clinical remission in UC patients with moderately to severely active UC who had previously failed or were intolerant to at least one conventional, biologic, or Janus kinase (JAK) inhibitor therapy. Both studies achieved all primary and key secondary efficacy endpoints, with a favorable safety profile consistent with previous studies of etrasimod.

The ENLIGHT study (ES101002) conducted by Everest, is a multicenter, randomized, double-blind and placebo-controlled Phase 3 trial of etrasimod in Asian countries, including China Mainland, China Taiwan and South Korea. This is the largest Phase 3 trial of moderately to severely active ulcerative colitis in Asia completed to date, with 340 eligible subjects randomized to treatment with etrasimod or placebo. The results demonstrate that treatment with etrasimod 2 mg resulted in a clinically meaningful and statistically significant improvement in the primary and all secondary endpoints. Notably, a secondary endpoint of mucosal healing as measured by a central read endoscopic subscore≤ 1 (excluding friability) with a Geboes Index score < 2.0, was achieved in 51.9% of the etrasimod treated patients, and mucosal normalization (ES = 0) was achieved in up to 46% of treated patients after 12 months. These findings provide strong evidence supporting the use of etrasimod in adult Asian patients with moderately to severely active ulcerative colitis.

Etrasimod has been included in the AGA Living Clinical Practice Guideline on the pharmacological management of moderate-to-severe UC as one of the higher-efficacy medications suggested for first line use in advanced therapy-naïve patients. Etrasimod has also been included in the ACG Clinical Guideline Update: Ulcerative Colitis in Adults in 2025.

As Everest’s third commercialized product, VELSIPITY® has been officially approved by the Guangdong Provincial Medical Products Administration for adult patients with moderately to severely active UC. It is now available at medical institutions designated under the Connect Policy in the Greater Bay Area. Additionally, Everest has launched a factory construction project at its Jiashan site to support local production of VELSIPITY®.

About VELSIPITY® (etrasimod)

VELSIPITY® is a once-daily, oral, sphingosine 1-phosphate (S1P) receptor modulator that selectively binds with S1P receptor subtypes 1, 4, and 5. Regulatory approvals have been granted in US, EU, Canada, Japan, Australia, Singapore, UK, Switzerland, Israel, China Hong Kong SAR and China Macao SAR for VELSIPITY® in ulcerative colitis, as well as additional countries.

About Everest Medicines

Everest Medicines is a biopharmaceutical company focused on discovering, developing, manufacturing and commercializing transformative pharmaceutical products and vaccines that address critical unmet medical needs for patients in Asian markets. The management team of Everest Medicines has deep expertise and an extensive track record from both leading global pharmaceutical companies and local Chinese pharmaceutical companies in high-quality discovery, clinical development, regulatory affairs, CMC, business development and operations. Everest Medicines has built a portfolio of potentially global first-in-class or best-in-class molecules in the company’s core therapeutic areas of renal diseases, infectious diseases and autoimmune disorders. For more information, please visit its website at www.everestmedicines.com.

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Wrap: Lao Foreign Minister Visits Singapore, The Philippines

Wrap: Lao Foreign Minister Visits Singapore, The Philippines

Lao Foreign Minister Thongsavanh Phomvihane completed official visits to Singapore and the Philippines, reaffirming Laos’ commitment to strengthening cooperation on trade, human resource development, clean energy, regional security, and people-to-people initiatives.