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GWM Hosts World’s First Factory Marathon, Showcasing China’s Automotive Innovation to the World


BAODING, CHINA – Media OutReach Newswire – 12 August 2025 – Great Wall Motor (GWM) has combined sport, technology, and industrial pride in a landmark event—the 2025 GWM Smart Factory Half Marathon—held inside its Xushui Smart Factory in Baoding, Hebei Province. Over 10,000 runners raced through stamping, welding, and assembly workshops, surrounded by a living showcase of China’s cutting-edge automotive manufacturing.

From the rhythmic movements of robotic arms to the precision of autonomous transport vehicles, participants witnessed first-hand how GWM’s fully automated production lines integrate intelligence and efficiency into every step of the manufacturing process. One runner, a GWM employee, recalled: “I was running alone when a robotic arm flashed ‘You can do it!’ on its screen. It was a small gesture, but it gave me real motivation.”

Today, GWM’s smart production systems seamlessly integrate automation into every step of the manufacturing process. Robotic arms now handle everything from body welding and materials handling to adhesive application and part transfers with speed and precision. Backed by continuous independent innovation, GWM has achieved in-house R&D and production of key components including engines, transmissions, and power batteries.

Relentless Pursuit of Core Technologies, GWM Accelerates Self-Reliant Innovation

GWM employs a formidable engineering workforce of 23,000 professionals, meaning one in every four employees is an engineer.

At the company’s Environmental Wind Tunnel Laboratory, new vehicle prototypes are put through rigorous simulations: searing sunlight, extreme heat, heavy rainfall, and hurricane-force winds. Inside the sealed chamber, these vehicles rotate through intense climate scenarios. Outside, technicians closely monitor real-time data on massive digital dashboards—precision and performance.

“Our Environmental Wind Tunnel is one of the most advanced in the industry, comprising 35 subsystems, including high-powered air blowers, chassis dynamometers, temperature and humidity controls, solar simulation, and centralized control systems,” said Li Can, Head of Environmental Simulation Testing Department of GWM Technical Center. “It can recreate temperatures from -40°C to +60°C, with wind speeds up to 250km/h—enabling us to simulate extreme climate conditions from around the world and ensure our vehicles meet global standards from day one.”

This facility is just one piece of GWM’s expansive innovation ecosystem demonstrating our commitment to technology. The company has invested nearly RMB 10 billion to establish a world-class testing complex, with more than 2,000 testing capabilities across new energy, thermal management, as well as dedicated facilities for crash safety, and comprehensive proving ground.

“Electrification and artificial intelligence have opened a new frontier for the automotive industry,” said Jack Wey, Chairman of GWM. We are leaning in—with a full-stack approach to intelligent vehicle technology, including our proprietary end-to-end intelligent driving models, next-generation AI data intelligence architecture, and the in-house Jiuzhou Supercomputing Center. Our next-generation advanced driver assistance system, developed entirely in-house, enabled real-world driving scenarios—from dense city streets to open highways, from rural roads to precision parking. We believe technology is not just a tool—it is the engine that drives our future,” Jack Wey added. “That’s why we are unwavering in our commitment to R&D and innovation.”

Driven as One, GWM Strengthens its Automotive Supply Chain Through Vertical Integration

In the 1990s, GWM was still a small manufacturer focused on pickup trucks, relying heavily on external suppliers for core components like engines and transmissions. To change that, the company established its own engine and component subsidiaries, gradually integrating its supply chain to enhance in-house R&D and manufacturing capabilities.

But such success also brought new challenges. These newly formed component subsidiaries depended almost entirely on internal orders from GWM, leaving them with little incentive for innovation. As a result, their costs exceeded those of third-party suppliers, and product competitiveness lagged behind.

In 2018, GWM made a bold move—all of its component subsidiaries were spun off as fully independent companies. Initially, this came at a cost. Without guaranteed orders from GWM, many struggled to survive. “That was one of the toughest periods we’ve been through,” recalled Zhang Dehui, Chairman of Nobo Automotive Systems. “We had to compete head-to-head with international suppliers for GWM’s business. It forced us to raise our quality standards and invest in core capabilities. It took several years of hard work before we could secure mass production contracts again.”

Yet that difficult transition unlocked new opportunities. Freed from internal dependency, Nobo began supplying global OEMs, including BMW, and officially entered the international supply chain.

GWM was among the first Chinese automakers to pursue vertical integration. Over the past 35 years, GWM has built a comprehensive and fully integrated supply chain ecosystem—one in which each part supports the others, and resources are circulated with maximum efficiency. “To build a globally competitive automotive brand, strength on the production and technology side is only part of the equation,” said Jack Wey, Chairman of GWM. “We must also develop unique advantages on our channels and customer touchpoints. Our suppliers and dealers are not just partners, they’re our teammates, standing shoulder to shoulder with us.” “In the future,” he added, “We must fully harness the power of digital technology to enable seamless collaboration across the entire ecosystem, future competition won’t just be about supply chains—it will be about industrial ecosystems.”

Driving Global Ambition, Spotlighting Chinese Brands

“This EV offers a 200km range on a single charge, with fuel consumption as low as 7L/100km in hybrid mode. It features surround-sound audio, a built-in AI large language model, and even a 12.5L independent refrigerator that cools down to 0°C…” This May, international delegates inspected our new models including the WEY G9, GWM TANK 300 Hi4-T, and HAVAL H9, each equipped with cutting-edge technologies designed for global consumers

Jack Wey shared that the new plant in São Paulo, Brazil—set to begin operations mid-year—will have an annual production capacity of 50,000 new energy vehicles and create 2,000 local jobs. The plant will adopt intelligent, digitalized production systems and produce a range of powertrains including BEVs and hybrids, all equipped with advanced intelligent connectivity features.

GWM’s “Ecological Globalization” strategy has drawn increasing attention for its “ecosystem-based” approach. The company believes that internationalization is not just about shipping products overseas—it’s about brand globalization and industrial capability transfer. What began as simple product exports has now evolved into a comprehensive strategy of establishing fully integrated manufacturing bases abroad. GWM’s overseas operations now span the full value chain—R&D, production, supply, sales, and service—marking a true shift from product-driven globalization to full-scale “Ecological Globalization.”

Today, at GWM’s Rayong NEV Plant in Thailand, locally produced EV – ORA03 EV is steadily rolling off production line with over 50% local content.

This facility is GWM’s second full-production vehicle manufacturing base outside China—and the first overseas plant dedicated to new energy vehicles. Spanning 658,800 square meters, the plant is set to produce 80,000 units annually during the first phase. Designed to the highest global manufacturing standards, the plant incorporates advanced systems for production, quality management, environmental protection, and digital technologies. With fully upgraded intelligent equipment and technologies, the plant sets a new benchmark for intelligent, sustainable manufacturing upgrade in Southeast Asia.

Wayne Zhou, Marketing General Manager of GWM Thailand, emphasized: “Every Chinese automaker’s global expansion represents Chinese manufacturing excellence – we’re China’s calling card. Chinese NEV brands are accelerating Thailand’s transition to the future of new energy mobility, bringing more NEVs to more Thai consumers.”

GWM’s global footprint continues to grow at pace. Its international sales network now covers over 170 countries and regions, supported by more than 1,400 overseas dealerships. The company has sold more than 2 million vehicles outside China, with a global user base exceeding 15 million. In 2024 alone, GWM recorded overseas sales of 450,000 units.

Hashtag: #GWM

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

Hindustan Zinc Becomes First Indian Company to Join International Council on Mining and Metals (ICMM)

UDAIPUR, India, Aug. 12, 2025 /PRNewswire/ — Hindustan Zinc Limited (BSE: 500188) (NSE: HINDZINC), India’s only and the world’s largest integrated zinc producer, has become the first Indian company to join the International Council on Mining and Metals (ICMM), a global leadership body of 25 mining and metals companies committed to advancing sustainability, transparency, and ethical practices across the mining value chain.

Hindustan Zinc Becomes First Indian Company to Join International Council on Mining and Metals (ICMM)
Hindustan Zinc Becomes First Indian Company to Join International Council on Mining and Metals (ICMM)

Hindustan Zinc’s induction follows a rigorous independent assessment and endorsement by ICMM’s Council, based on recommendations from the Independent Expert Review Panel (IERP). This milestone reaffirms ICMM’s deepening engagement in South Asia and marks its first new member since 2021.

Priya Agarwal Hebbar, Chairperson, Hindustan Zinc, said the membership reflects the company’s commitment to sustainability, innovation, and responsible resource development, while enabling collaboration with global mining leaders.

With this, Hindustan Zinc commits to ICMM’s 40 performance expectations spanning Environmental, Social, and Governance (ESG) practices, including third-party validation across all operations.

Arun Misra, CEO – Hindustan Zinc, called it a new chapter in the company’s Sustainability 2.0 journey, integrating global best practices to create lasting environmental, social, and industry-wide impact.

Rohitesh Dhawan, President & CEO, ICMM, welcomed Hindustan Zinc as a significant addition, strengthening collective efforts and reinforcing its leadership in India’s mining sector.

Headquartered in Udaipur, Hindustan Zinc operates silver-lead-zinc underground mines, smelters, and allied infrastructure across northwest India. Recognized for excellence in tailings management, decarbonization, circular economy, and diversity, equity, and inclusion, the company maintains independent governance and transparent sustainability reporting.

Hindustan Zinc has been ranked the world’s most sustainable metals and mining company by the S&P Global Corporate Sustainability Assessment for two consecutive years. Its 2030 Sustainable Goals focus on climate action, biodiversity, water stewardship, circularity, and inclusive growth, with a commitment to Net Zero emissions by 2050 or sooner. It was the first Indian metals and mining company to secure SBTi-validated targets aligned to the 1.5°C goal, achieving a 15% reduction in GHG emissions intensity in FY25 vs 2020. With an EPD-verified portfolio, Hindustan Zinc is uniquely positioned to lead the global energy transition, balancing growth with environmental stewardship and social progress.

For more information, please visit – https://www.hzlindia.com/home/ and follow us on LinkedInFacebook, and Instagram for more updates.

For any media queries, please contact:
Maitreyee Sankhla
Head Corporate Communications
Hindustan Zinc Limited
Maitreyee.Sankhla@vedanta.co.in

 

Linker Vision Unveils Physical AI Breakthrough Powered by NVIDIA Cosmos Reason

TAIPEI, Aug. 12, 2025 /PRNewswire/ — Linker Vision, a leading AI software company from Taiwan, announced a major advancement in Physical AI, powered by NVIDIA Cosmos Reason, that is set to transform how cities and industries sense, understand, and respond to the physical world in real time. 

From Detection to Decisions: The Power of Physical AI

Conventional VLMs excel at recognizing objects and detecting anomalies, but cities need more, they need to understand why an event is happening and what might happen next. This is the gap that a reasoning VLM specifically trained to understand the physical world fills. Cosmos Reason adds the ability to perform chain-of-thought reasoning and spatial-temporal analysis, enabling AI systems to not just detect, but also explain and predict complex real-world scenarios. When integrated with Linker Vision’s platform, infrastructure such as cameras, sensors, and traffic systems can interpret events, uncover causes, and recommend the best course of action. 

“Physical AI isn’t just about automation—it’s about creating intelligent systems that adapt dynamically to the real world,” said Willy Kuo, CTO of Linker Vision. “With Cosmos Reason, we’re enabling cities to move rapidly from monitoring to proactive governance.” 

Real-World Impact: More Resilient, Responsive Cities

In Taiwan, Linker Vision collaborated with the city governments to deploy a city-scale Physical AI system, leveraging existing camera infrastructure to enhance traffic safety and emergency response. With Cosmos Reason, the system can detect incidents such as flooding or car accidents, and explain risks, predict escalation, and recommend targeted responses—reducing accidents, preventing bottlenecks, accelerating coordination with first responders, and improving overall urban safety and efficiency. 

Building the Future We Can Trust with Physical AI

Physical AI represents a new frontier in urban intelligence. As data grows more complex and the demand for accountability rises, Linker Vision’s platform delivers the tools for a world that doesn’t just observe but reasons, plans, and acts. 

In the years ahead, Physical AI will help more and more cities prevent accidents before they happen, reduce traffic congestion through predictive analysis, improve emergency response times with automated decision support, and cut operating costs by reducing manpower dependency. It will also enable industries to ensure worker safety, monitor critical infrastructure in real time, and adapt dynamically to environmental changes, thereby creating more resilient, more responsive environments. 

Learn more about deploying Physical AI with Linker Vision: www.linkervision.com

MAMMOTION Marks 9th Anniversary featuring Award-Winning Smart Lawn Mowers — Limited Time Campaign

Flagship LUBA 2 AWD Named to TIME’s Best Inventions of 2024; Anniversary Sale Covers Full Lineup — LUBA 2 AWD, LUBA mini AWD, YUKA, and YUKA mini

LOS ANGELES, Aug. 12, 2025 /PRNewswire/ — Fresh off its flagship LUBA 2 AWD being named one of TIME Best Inventions of 2024, MAMMOTION is marking its 9th anniversary with celebration campaign featuring its top-rated robot lawn mowers from August 15 to September 7. Customers can save on select models across the LUBA 2 AWD Series, LUBA mini AWD Series, YUKA Series, and YUKA mini Series. Limited stock is available, and once it’s gone, prices return to regular levels.

Shop now at MAMMOTION Online Store or MAMMOTION Amazon Store.

MAMMOTION Marks 9th Anniversary with Up to $700 Off Award-Winning Smart Lawn Mowers — Limited Time Only!
MAMMOTION Marks 9th Anniversary with Up to $700 Off Award-Winning Smart Lawn Mowers — Limited Time Only!

Exclusive Anniversary Deals:

LUBA 2 AWD Series – Starts from $2,299—Save up to $300

Flagship for large & complex lawns up to 2.5 acres(10,000)

  • Upgraded 165W blade motor for tackling tough terrain
  • All-wheel-drive system conquers slopes up to 80% (38.6°)
  • UltraSense AI Vision with RTK enables precise accuracy — no perimeter wires required
  • Mowing up to 0.37 acres (1500) per charge
  • Large 12Ah / 259.2Wh battery for extended runtime

LUBA mini AWD Series – Starts from $1,439—Save up to $200

Compact and powerful, ideal for small to medium yards with all-terrain capability up to 0.37 acres(1500)

  • All-Wheel-Drive for 80% slopes (38.6°) with 88W blade motors
  • Manage up to 20 mowing and no-go zones via smart app control
  • Anti-theft features with GPS tracking
  • Eco-friendly with replaceable lithium battery — up to 6.1Ah capacity

YUKA Series – Starts from $1,299—Save up to $200

Advanced 2-in-1 self-emptying lawn sweeper and mower for lawns up to 0.75 acres (3000)

  • Automatically collects and disposes leaves, debris, and grass clippings
  • Corner-to-edge cutting, and obstacle avoidance
  • Dual 5-blade cutting discs, 320mm width for a carpet-like finish
  • Manages up to 30 customizable mowing zones

YUKA mini Series –Starts from $ 749—Save up to $350

 Weighing only 22 pounds, it’s a budget-friendly option, perfect for lawns around 0.2 acres(800).

  • Quick, hassle-free lawn mapping — ready in just 10 minutes
  • Space-saving design ideal for households and new users
  • 6.1Ah battery compatible with all Mini models for continuous operation

In addition to the above individual product discounts, they’ve also launched a special anniversary dual-unit bundle: LUBA 2 + YUKA mini discounted by $650, plus an exclusive $50 new customer discount, available exclusively at the US official online store.

Trusted by over 300,000 families worldwide, MAMMOTION continues to lead in smart, eco-friendly outdoor solutions. With multiple international awards, the brand is recognized for its commitment to quality and innovation.

This limited-time anniversary promotion runs from August 15 to September 7, 2025 — available while supplies last. Shop now at MAMMOTION.com or Amazon Store

For more information, visit www.mammotion.com.

About MAMMOTION

MAMMOTION is dedicated to creating intelligent, high-quality, and eco-friendly outdoor solutions through innovative robotics. As the maker of the award-winning LUBA 2 AWD Series—named one of TIME’s Best Inventions of 2024—and the versatile YUKA Series, MAMMOTION has transformed robotic lawn care for professionals and homeowners alike. With its new robotic pool cleaning product, the company is expanding its smart garden robotics lineup beyond lawns to pools, continuing its mission to make backyard maintenance easier, smarter, and more sustainable.

AMI Launches Developer Program for Arm Total Design to Rapidly Accelerate Arm-based Chiplet Development

ATLANTA, Aug. 12, 2025 /PRNewswire/ — AMI® is proud to announce the AMI Developer Program for Arm® Total Design, specifically designed to enable Arm Total Design ecosystem partners to streamline the process of developing, testing, validating, and hardening custom silicon, including chiplets, powered by Arm Neoverse™ Compute Subsystems (CSS). Additionally, the program offers a simpler, more cost-effective pathway for the Arm Total Design ecosystem to transform their unique designs into market-ready products.

AMI Corporate Logo

Sanjoy Maity, CEO of AMI, stated that, “Our goal with this new program is to ensure silicon designers get full access to necessary firmware technology and IP blocks that help them bring Arm-based custom silicon to life and fine tune their products very quickly, while still allowing them to remain within their project budget. By leveraging AMI firmware products, together with the benefits of Arm Total Design, we aim to help the ecosystem rapidly arrive at their point of commercialization.”

Srivatsan Ramachandran, SVP of Strategic Partnerships at AMI, noted, “The AMI Developer Program for Arm Total Design brings together custom silicon designs, dynamic firmware, and advanced ecosystem partner technologies in a rapid and collaborative way to shift-left Arm-based custom silicon designs. Most importantly, the Developer Program will eliminate many of the roadblocks faced by a traditional commercial engagement, facilitating smoother and quicker entry into the design process.”

The AMI Developer Program for Arm Total Design features generous licensing terms for our Exclusive and Early Adopter Partners for AMI firmware solutions like OpenBMC™-based MegaRAC OneTree™ Manageability Firmware and Aptio® V UEFI Firmware, and much more. Contact AMI or visit our website for more details on the complete terms and conditions of the Developer Program, the benefits of working with AMI, and to get started on your Arm Neoverse CSS-based chiplet design journey today.

Arm and Neoverse are registered trademarks and trademarks of Arm Limited (or its subsidiaries or affiliates) in the US and/or elsewhere. Aptio and MegaRAC are registered trademarks of AMI US Holdings, Inc. OpenBMC is a trademark of LF Projects, LLC. All other registered trademarks and trademarks are the property of their respective companies.

About AMI

AMI is Firmware Reimagined for modern computing. As a global leader in Dynamic Firmware for security, orchestration, and manageability solutions, AMI enables the world’s compute platforms from on-premises to the cloud to the edge. AMI’s industry-leading foundational technology and unwavering customer support have generated lasting partnerships and spurred innovation for some of the most prominent brands in the high-tech industry.

 

Firstsource named a ‘Star Performer’ and a ‘Major Contender’ in Everest Group’s Financial Crime and Compliance (FCC) Operations Services PEAK Matrix® Assessment 2025

MELBOURNE, Australia, Aug. 12, 2025 /PRNewswire/ — Firstsource Solutions Limited (NSE: FSL) (BSE:532809), a leading global provider of specialist domain-led Business Process Services (BPS) and an RP-Sanjiv Goenka Group company, has been recognized as a Star Performer and a Major Contender in Everest Group’s Financial Crime and Compliance (FCC) Operations Services PEAK Matrix® Assessment 2025. This dual recognition indicates Firstsource’s year-on-year improvement in both market impact and vision & capability dimensions among 36 global providers, based on its ongoing innovation, investments, and growth.

Firstsource named a ‘Star Performer’ and a ‘Major Contender’ in Everest Group’s Financial Crime and Compliance (FCC) Operations Services PEAK Matrix® Assessment 2025
Firstsource named a ‘Star Performer’ and a ‘Major Contender’ in Everest Group’s Financial Crime and Compliance (FCC) Operations Services PEAK Matrix® Assessment 2025

Everest Group recognized Firstsource for its strong UK presence, expanded scope from fraud specialization to end-to-end FCC operations, and its AI-powered, BPaaS-led delivery model. The Star Performer distinction, awarded selectively to providers demonstrating the most substantial year-on-year progress, underscores the success of Firstsource’s differentiated UnBPO™ strategy in reshaping FCC delivery. 

Vivek Sharma, Head – BFS, CMT, and Emerging Geos, Firstsource, shared, “Being named both a Major Contender and a Star Performer by Everest Group is strong validation of our strategy to build one of the most agile and future-ready FCC delivery models in the industry. The Star Performer distinction, especially, reflects the pace and quality of our progress. Through our UnBPO™ approach, we’re blending deep domain expertise with GenAI and Agentic AI to help financial institutions detect, investigate, and respond to financial crime – faster, smarter, and with greater personalization. In the US, we’re seeing strong momentum as more financial institutions choose us as their partner for scalable, AI-powered compliance – a clear signal that we’re solving for today while building for what’s next.”

Dheeraj Maken, Practice Director, Everest Group, shared, “As buyers look for delivery partners that balance operational scale with targeted technology investments, Firstsource offers a geographically distributed FCC delivery model combined with gradual gen AI adoption.

Firstsource has invested in modular AI tools such as Firstsource relAI™ and Analyst Co-Pilot, alongside training initiatives through the Firstsource Academy to enhance its capabilities in alert handling, QA automation, and investigation workflows. These elements have contributed to its recognition as a Major Contender and Star Performer in our Financial Crime and Compliance (FCC) Operations Services PEAK Matrix® Assessment 2025.”

Key highlights from the report:

  • AI-powered BPaaS model: Firstsource has evolved its BPaaS offering, initially anchored by the Muimos partnership, into a flexible and scalable platform that delivers end-to-end FCC coverage across AML, KYC, and fraud.
  • Future-ready workforce through FCC Academy: With GenAI-powered skilling solutions such as AI Coach and automation-led QA, the FCC Academy is accelerating analyst readiness and setting new benchmarks for professional FCC delivery.
  • Operational impact through modular AI and automation: Investments in solutions like Firstsource relAI™, Analyst Co-Pilot, and Digital Cockpit are reducing false positives, improving alert accuracy, and expediting fraud and AML investigations.
  • Balanced global presence: Building on its strong UK foundation, Firstsource is actively expanding FCC delivery capabilities in North America while leveraging offshore, nearshore, and client-site operations to provide scale, resilience, and regulatory alignment.

To download a copy of the report, please visit: https://www.firstsource.com/about/analyst-recognitions/everest-fcc-peak-matrix-2025-recognition

About Everest Group

Everest Group is a leading global research firm helping business leaders make confident decisions. Everest Group’s PEAK Matrix® assessments provide the analysis and insights enterprises need to make critical selection decisions about global services providers, locations, products and solutions within various market segments. Likewise, providers of these services, products, and solutions, look to the PEAK Matrix® to gauge and calibrate their offerings against others in the industry or market. Find further details and in-depth content at www.everestgrp.com.

About Firstsource

Firstsource Solutions Limited, an RP-Sanjiv Goenka Group company (NSE: FSL) (BSE: 532809) (Reuters: FISO.BO) (Bloomberg: FSOL:IN), is a global leader providing business process solutions and services spanning the customer lifecycle across Healthcare, Banking and Financial Services, Communications, Media and Technology, Retail, and other diverse industries. With a global footprint across US, UK, India, Philippines, Mexico, Romania, Turkey, Trinidad & Tobago, South Africa, and Australia, we ‘make it happen’ for our clients, solving their biggest challenges with hyper-focused, domain-centered teams and cutting-edge tech, data, and analytics. Our inch-wide, mile-deep practitioners work collaboratively, leveraging UnBPO™ – our differentiated approach to reimagining traditional outsourcing – to deliver real-world, future-focused solutions that drive speed, scale, and smarter decision, turning transformation into tangible results for our clients. (www.firstsource.com)

Disclaimer
Licensed extracts taken from Everest Group’s PEAK Matrix® Reports may be used by licensed third parties for use in their own marketing and promotional activities and collateral. Selected extracts from Everest Group’s PEAK Matrix® reports do not necessarily provide the full context of our research and analysis. All research and analysis conducted by Everest Group’s analysts and included in Everest Group’s PEAK Matrix® reports is independent and no organization has paid a fee to be featured or to influence their ranking. To access the complete research and to learn more about our methodology, please visit Everest Group PEAK Matrix® Reports.

 

Mabwell Announces First Patient Dosed in the US Clinical Study of Bulumtatug Fuvedotin in TNBC Patients Previously Treated with ADCs

SHANGHAI, Aug. 12, 2025 /PRNewswire/ — Mabwell (688062.SH), an innovative biopharmaceutical company with entire industry chain, announced the first patient dosing in the U.S. for a clinical study of its novel nectin-4-targeting antibody-drug conjugate (Bulumtatug Fuvedotin, or BFv, R&D code: 9MW2821) in triple-negative breast cancer (TNBC) patients previously treated with antibody-drug conjugate (ADC). This is the first overseas clinical study of 9MW2821, representing a significant step in Mabwell’s global development of ADC therapeutics.

The multicenter clinical study (NCT06908928) aims to evaluate the efficacy and safety of BFv in TNBC patients previously treated with a taxane and an antibody-drug conjugate with a topoisomerase inhibitor payload. The first subject has been dosed at Memorial Sloan Kettering Cancer Center.

So far, treatment options for TNBC remain limited. While topoisomerase inhibitor-based ADCs (TOPi-ADCs) are emerging as a mainstream post-standard therapy option, a high proportion of patients progress after TOPi-ADC treatment, indicating significant unmet clinical needs due to the lack of alternative therapies.

BFv is a novel Nectin-4 targeting ADC leveraging next-generation site-specific conjugation technology. Composed of a novel antibody, an optimized linker, and cytotoxic payload MMAE (Monomethyl auristatin E), it has good profile of tumor binding and target specificity. BFv is protected by multiple patents in China and internationally through the PCT. Studies demonstrate its superior characteristics including more homogeneous components, significantly lower toxin release in plasma and enhanced cytotoxic payload delivery efficiency which leads to substantially increased intratumoral drug concentration.

Considering high expression of Nectin-4 in TNBC, BFv’s clinical study on TNBC imposes no biomarker screening requirements, holding potential for broad patient coverage and offering a novel therapeutic option for TNBC patients.

About Triple-negative breast cancer (TNBC)

TNBC accounts for approximately 15% to 20% of all breast cancer cases globally, and is generally thought as a subtype with the most malignancy due to the lack of specific therapeutic targets. The global number of incident cases of TNBC increased from 320.1 thousand in 2019 to 361.2 thousand in 2023, and is expected to further increase to 479.4 thousand in 2032. In China, the number of incident cases of TNBC increased from 49.5 thousand in 2019 to 54.8 thousand in 2023, and is expected to further increase to 65.4 thousand in 2032.

About Bulumtatug Fuvedotin

Bulumtatug Fuvedotin (BFv) is a novel Nectin-4 targeting ADC using Mabwell’s proprietary next-generation IDDC™ platform. It stands out as the first clinical-stage drug candidate among Chinese companies for this specific target. And it’s the first Nectin-4 targeting ADC to disclose clinical efficacy data in cervical, esophageal, and breast cancers. For urothelial carcinoma, both monotherapy and combination therapy with a PD-1 inhibitor have advanced to Phase III clinical studies, making it the first among Chinese candidates and second globally in this field, and have been granted Breakthrough Therapy Designation by CDE of NMPA in China. For cervical cancer, it is the first Nectin-4-targeting ADC worldwide to enter Phase III studies. BFv has been granted multiple Fast Track designations (including for locally advanced or metastatic Nectin-4-positive triple-negative breast cancer) and Orphan Drug designation by US FDA.

About Mabwell
Mabwell (688062.SH) is an innovation-driven biopharmaceutical company with the entire value chain of the pharmaceutical industry. The company provides more effective and accessible therapy and innovative medicines to fulfill global medical needs, focusing on oncology and aging-related disease indications. Mabwell’s mission is “Explore Life, Benefit Health” and its vision is “Innovation, from ideas to reality”. For more information, please visit www.mabwell.com/en.

Forward-Looking Statements
This press release contains forward-looking statements including, but not limited to, the potential safety, efficacy, regulatory review or approval and commercial success of our product candidates and those relating to the Company’s product development, clinical studies, clinical and regulatory milestones and timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statements that are predictive in nature. “Forward-looking statements” are statements that are not historical facts and involve a number of risks and uncertainties, which may cause actual results to be materially different from any future results expressed or implied in the forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions and the negatives of those terms.

Forward-looking statements are based on the Company’s current expectations and assumptions. Forward-looking statements are subject to a number of risks, uncertainties, and other factors, many of which are beyond the Company’s control, including, but not limited to: environment; politic; economy; society; legislation; our dependence on our product candidates, most of which are still in preclinical or various stages of clinical development; our reliance on third-party vendors, such as contract research organizations and contract manufacturing organizations; the uncertainties inherent in clinical testing; our ability to complete required clinical trials for our product candidates and obtain approval from regulatory authorities for our product candidates; our ability to protect our intellectual property; the potential impact of COVID-19; the loss of any executive officers or key personnel. In case one or more of these risks or uncertainties deteriorate, or any assumptions are incorrect, the actual results may be seriously inconsistent with the stated results.

The Company cautions all the persons not to place undue reliance on any such forward-looking statements, which speaks only as of the date of this press release. The Company disclaims any obligation, except as specifically required by law and the rules of the applicable Stock authority to publicly update or revise any such statements to reflect any change in expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. All forward-looking descriptions, figures and assumptions in this press release are applicable to this statement.

H.I.G. WhiteHorse Closes $5.9 Billion H.I.G. WhiteHorse Middle Market Lending Fund IV

MIAMI, Aug. 12, 2025 /PRNewswire/ — H.I.G. WhiteHorse, the direct lending credit affiliate of H.I.G. Capital (“H.I.G.” or the “Firm”), a leading global alternative asset management firm with $70 billion of capital under management, today announced the final closing of H.I.G. WhiteHorse Middle Market Lending Fund IV (“Fund IV”). Fund IV closed with $5.9 billion* of assets and continues the Firm’s successful strategy of originating senior secured loans across the U.S. middle market.

H.I.G. WhiteHorse has invested approximately $18 billion in U.S. direct lending transactions. The WhiteHorse team has invested in over 285 middle market companies, primarily through senior secured floating rate loans, often with bespoke terms and conservative loan-to-value ratios. Fund IV focuses on originating senior secured loans to both sponsor and non-sponsor borrowers with EBITDA generally between $30 and $100 million.

Sami Mnaymneh and Tony Tamer, H.I.G. Co-Founders and Co-Executive Chairmen, commented: “H.I.G. is one of largest and most active credit investors in the middle market where H.I.G. WhiteHorse is an established leader. We have been disciplined in maintaining our middle market focus and are confident that our unique platform targeting both non-sponsor and sponsor borrowers will continue to set us apart in this space.”

Stuart Aronson, Executive Managing Director and CEO of H.I.G. WhiteHorse, commented: “We believe the coming years will offer a compelling opportunity to serve as a value-added financing partner to both sponsor and non-sponsor middle market companies seeking private debt solutions. With 24 originators in 13 regional markets, H.I.G. WhiteHorse is well-positioned to source strong and differentiated deal flow for our investors.”

“Fund IV attracted a diverse group of limited partners seeking differentiated deal flow coupled with a rigorous “PE-style” of credit underwriting, delivering downside protection with attractive yield,” said Jordan Peer Griffin, Executive Managing Director and Global Head of Capital Formation for H.I.G. “We appreciate our partners’ confidence in our ability to continue our long history of delivering superior risk-adjusted returns across shifting market environments.”

Fund IV was supported by a global group of limited partners that include public and private sector pensions, sovereign wealth funds, endowments, foundations, consultants, financial institutions, and family offices in North America, Europe, Asia, and the Middle East.

About H.I.G. WhiteHorse

H.I.G. WhiteHorse provides debt financing to both non-sponsor and sponsor middle market companies across a wide range of industries, including Business Services, Industrials, Consumer and Retail, Financial Services, Healthcare, and Telecom, Media and Technology. H.I.G. WhiteHorse has a broad investment mandate and provides primarily senior secured debt for refinancings, growth capital, acquisitions, buyouts, and balance sheet recapitalizations. H.I.G. WhiteHorse’s team of 85 credit professionals, across the U.S. and Europe, brings extensive experience and a proven track record of providing creative financing structures and employing a long-term relationship-oriented portfolio management philosophy. For more information, please visit whitehorse.com.

About H.I.G. Capital

H.I.G. Capital is a leading global alternative investment firm with $70 billion** of capital under management. Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, San Francisco, and Stamford in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/value-added approach:

  • H.I.G.’s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  • H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
  • H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
  • H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm’s current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.

*Reflects total investable assets, including equity commitments in related vehicles and expected leverage.
**Based on total capital raised by H.I.G. Capital and its affiliates.

Contact:

Stuart Aronson
Executive Managing Director
saronson@whitehorse.com

Jordan Peer Griffin
Executive Managing Director
jpeer@hig.com

H.I.G. Capital
1450 Brickell Avenue
31st Floor
Miami, FL 33131
P: 305.379.2322
hig.com