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Cango Inc. Announces July 2025 Bitcoin Production and Mining Operations Update

HONG KONG, Aug. 5, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Company”) today published its Bitcoin production and mining operations update for July 2025.

Bitcoin Mining Production and Mining Operations Update for July 2025

Metric

July 2025 1

June 2025 1

Number of Bitcoin produced

650.5

450.0

Average number of Bitcoin produced per day

20.99

15.00

Total number of Bitcoin held 2

4,529.7

3,879.2

Deployed hashrate

50 EH/s

32 EH/s

Average operating hashrate 3

 40.91 EH/s

 29.92 EH/s

1.      Unaudited, estimated.

2.      As of month-end.

3.      Average over the month.

Note: Cango holds Bitcoin for the long term and does not currently intend to sell any of its Bitcoin holdings.

Paul Yu, CEO and Director of Cango, commented, “With the addition of 18 EH/s at the end of June, our deployed hashrate expanded to 50 EH/s in July and allowed us to deliver a 45% month-over-month increase in Bitcoin producted to 650.5. Average operating hashrate of 40.91 EH/s throughout the month underscores our robust operational efficiency and significant growth potential as we continue to scale. This strong performance not only demonstrates our commitment to execution but also fuels our ambition to accelerate future production.”

“With a new and experienced management team now onboard and growing Bitcoin treasury holdings from mining operations, we are now focused on laying the foundation for our vertical integration to transition towards a more diversified and resilient portfolio of mining sites and energy infrastructure.”

About Cango Inc.

Cango Inc. (NYSE: CANG) is primarily engaged in the Bitcoin mining business, with operations strategically deployed across North America, the Middle East, South America, and East Africa. The Company entered the crypto asset space in November 2024, driven by advancements in blockchain technology, the growing adoption of digital assets, and its commitment to diversifying its business portfolio. In parallel, Cango continues to operate an online international used car export business through AutoCango.com, making it easier for global customers to access high-quality vehicle inventory from China. For more information, please visit: www.cangoonline.com.

Investor Relations Contact

Juliet YE, Head of Communications
Cango Inc.
Email: ir@cangoonline.com 

Shede Aged Baijiu Festival Debuts in Malaysia and Singapore – Fosun Empowers Shede Spirits to Share Its Aroma with the World


KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 5 August 2025 – On August 3, the Shede Aged Baijiu Festival was staged in Malaysia, following its successful Singapore edition. Once again, Shede Spirits celebrated baijiu as a cultural bridge to advance its expansion in Southeast Asia, hosting a series of high-profile events to actively promote Chinese baijiu culture on the global stage.

Panoramic view of the Shede Aged Baijiu Festival
Panoramic view of the Shede Aged Baijiu Festival

Distinguished guests included Lee Thai Hung, Deputy Director-General of Tourism Malaysia; Datuk Chong Sin Woon, Secretary-General of the Malaysian Chinese Association (MCA); Prof. Dr. Choong Chee Keong, Vice President of Universiti Tunku Abdul Rahman (UTAR); Guo Guangchang, Chairman of Fosun International; Pu Jizhou, Chairman of Shede Spirits; Wu Yifei, Co-Chairman of Shede Spirits; Tang Hui, President of Shede Spirits; Yang Xiao, Chairman of Mix Company; along with representatives from Malaysian business circles, distributors, media, and collectors and aficionados of aged baijiu.

At the event, Lee Thai Hung, Deputy Director-General of Tourism Malaysia, lauded Shede Spirits for its role in fostering China–Malaysia cultural exchange and charitable initiatives. He noted that the “Shede Spirit” resonates strongly with Malaysia’s vision of integrating culture and tourism, fulfilling social responsibilities, and deepening bilateral friendship. He expressed the hope that more leading Chinese enterprises would join in advancing cooperation between the two nations.

Guo Guangchang, Chairman of Fosun International, reaffirmed Fosun’s commitment to propelling Shede Spirits and Chinese baijiu culture onto the world stage. He highlighted Shede’s recent strides in production capacity and R&D infrastructure, which underpin the brand’s long-term growth under its aged-baijiu strategy. Guided by the principle of long-termism, Fosun will continue to support Shede’s sustainable development by harnessing both domestic and international platform resources—deepening its footprint in China while accelerating overseas expansion. Guo emphasized Southeast Asia’s deep-rooted Chinese communities and natural affinity for baijiu, expressing his hope that Shede will become the most beloved and trusted Chinese baijiu brand in the region. He added that cultural outreach and product innovation would serve as the twin engines driving Shede’s future, creating shared success for partners and energizing global market growth.

As a cornerstone of Shede’s international strategy, Southeast Asia holds profound strategic importance. In his keynote, Shede Spirits Chairman Pu Jizhou reflected on the enduring friendship and cultural bonds between China and Malaysia, offering an incisive interpretation of the contemporary significance of the “Shede” philosophy. He noted that Shede hails from Shehong in Suining, Sichuan—Hometown of Baijiu. As Tang poet Du Fu once wrote, “Shehong spring wine stays freshly green despite the chill.” Today, a pot of Shede Baijiu, just like the iconic Guanyin Lake with its vast expanse, becomes the signature of the city. With Fosun’s support, Shede has rapidly expanded into 40 countries and regions worldwide, achieving both overseas profitability and sustained growth. Pu pledged to deepen Shede’s commitment to the Southeast Asian market, forging partnerships with more distributors to weave premium aged baijiu into local lifestyles—transforming the wisdom of Shede into a bridge for global cultural exchange and emotional resonance, and enabling the world to savor the fragrance of Chinese baijiu and the elegance of Chinese culture.

The evening reached its zenith with a charity auction, as rare bottles of Shede aged baijiu drew spirited bidding from collectors and connoisseurs, with every lot sold. All proceeds were donated to Universiti Tunku Abdul Rahman to support the advancement of Chinese education and academic development in Malaysia—embodying the Shede Spirit through meaningful action.

With Fosun’s strategic empowerment, Shede Spirits continues to accelerate its global footprint, with products now available in 40 countries and regions. Looking ahead, the brand will further leverage its “Aged Baijiu + Culture” model, exploring new pathways for sustainable overseas growth and joining hands with partners worldwide to champion Chinese baijiu culture—crafting a better life for families across the globe.

Hashtag: #ShedeSpirits

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

Shede Aged Baijiu Festival Unveils in Singapore – Fosun Empowers Shede Spirits to Share Chinese Wisdom with the World

SINGAPORE, Aug. 5, 2025 /PRNewswire/ — On July 31, the Shede Aged Baijiu Festival was staged at Concorde Hotels & Resorts, Singapore, where Shede Spirits welcomed distinguished guests from across the social spectrum to savor the allure of its celebrated baijiu and immerse themselves in the profound heritage of Chinese baijiu culture.

Panoramic view of the Shede Aged Baijiu Festival
Panoramic view of the Shede Aged Baijiu Festival

Honored attendees included Garry Lam, Chairman of Brands for Good; Dr. Andy Poh, Senior Advisor to the Prime Minister’s Office of the UAE; Andrey Kondratyev, Deputy Head of the Trade Representation of the Russian Federation in Singapore; Wang Hao, President of the VIVA Foundation for Children with Cancer; Philip Khoo, Managing Director of Kim Sing Co Pte Ltd; together with representatives from Shede Spirits—among them President Tang Hui, Chief Human Resources Officer Zhao Peng, and Zhu Yingcai, General Manager of the International Department—as well as delegates from the Singapore Chamber of Commerce and members of the media.

In his address, Brands for Good Chairman Garry Lam expressed deep appreciation for Shede Spirits’ enduring “brand for good” philosophy. He remarked that the “Shede Spirit”, embodied through the company’s tangible actions, resonates perfectly with the ethos of charitable galas—reflecting not only a defining pillar of corporate culture, but also the constructive role of enterprise in advancing social welfare and nurturing a culture of benevolence.

With Shede, toasting the spirit of “Shede”—the art of letting go and gaining. President Tang Hui offered a profound interpretation of the wisdom inherent in the “Shede Spirit”—the equilibrium between giving and receiving. He underscored that this guiding ethos is woven into Shede’s unwavering pursuit of product excellence and its steadfast commitment to corporate social responsibility. Looking forward, Shede Spirits will continue to employ this spirit as a bridge to champion charitable causes and join hands with global communities in spreading warmth and goodwill.

Zhu Yingcai, General Manager of the International Division, led guests on an immersive journey into the art of Chinese baijiu appreciation, offering a sensory exploration that revealed the exquisite charm and craftsmanship of Shede’s creations.

The evening’s pinnacle came with a charity auction. Amid a spirited and vibrant atmosphere, select bottles of Shede Spirits inspired competitive bidding among collectors and connoisseurs. All proceeds were donated to the VIVA Foundation for Children with Cancer, supporting treatment, rehabilitation, and ongoing care for young cancer patients—transforming compassion into concrete action.

Empowered by Fosun’s strategic vision, Shede Spirits has long pursued international expansion under its “Aged Baijiu + Culture” model, with its products now reaching 40 countries and regions worldwide. Looking ahead, the company will continue to chart innovative pathways for global engagement, fostering a mutually beneficial partnership ecosystem with Singapore’s business community. Remaining committed to crafting a better life for families around the globe, Shede Spirits invites the world to experience the fragrance of Chinese baijiu and the timeless elegance of Chinese culture.

Sunstream Industries Marks 25-Year Partnership with Ranpak, Reinforcing Commitment to Sustainable Packaging in Asia


SINGAPORE – Media OutReach Newswire – 5 August 2025 – To address the growing demand for sustainable packaging in the e-commerce and retail sectors, Sunstream Industries is announcing the launch of its new paper poly mailer. This product incorporates Ranpak’s Geami honeycomb protective material, which securely wraps items without requiring adhesive tape or cutting. The launch reflects the partnership’s ongoing adaptation to market needs, providing a solution that combines recyclable materials with shipment protection.

Sunstream Industries Marks 25-Year Partnership with Ranpak
Sunstream Industries Marks 25-Year Partnership with Ranpak

Sunstream Industries, a material handling equipment supplier in Singapore, is marking 25 years of partnership with Ranpak, a manufacturer of paper-based packaging solutions. Over the years, this collaboration has focused on developing and delivering sustainable packaging solutions for e-commerce and shipping needs across Asia.

A Partnership Rooted in Shared Goals
Founded by Mr Heng Joon Siang, Sunstream Industries began as a distributor of forklift attachments before expanding into palletless handling systems. With shared priorities in sustainability, innovation, and the development of cost-effective packaging systems for businesses in Asia, Sunstream Industries partnered with Ranpak, a supplier of fully recyclable, paper-based solutions. Over the past 25 years, the partnership has evolved from offering basic paper cushioning to a broader range of protective packaging products used in various industries across Asia.

Adapting to Changing Needs in Packaging
Ranpak has also recently opened a new factory in Johor Bahru, Malaysia, which is expected to strengthen supply chain efficiency and address regional demand for sustainable packaging solutions.

Moving Forward
In 2025 and beyond, Sunstream Industries plans to focus on strengthening partnerships, improving customer support, and leveraging technology to provide reliable and cost-effective packaging solutions. Through these efforts, the company aims to support the operational needs of businesses across global markets.

Hashtag: #materialhandlingequipment #sunstream

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

About Sunstream Industries

Sunstream Industries is a Singapore-based provider of palletless handling systems and integrated solutions for load unitisation, cargo protection, and load securing. Operating in several countries in the Asia-Pacific region, the company partners with global brands like Lantech, Toppy, and Ranpak to deliver sustainable packaging and material handling solutions.

Applications Open for Chevening Scholarships to Study in the UK

Applications Open for Chevening Scholarships to Study in the UK
(photo supplied)

Applications for the Chevening Scholarships, a program that offers fully funded master’s degrees at universities in the United Kingdom, are now open from 5 August to 7 October.

Uzum Secures $70M Equity Financing Led by Tencent and VR Capital, Reaches $1.5B Valuation

Funding to accelerate the expansion of Uzbekistan’s leading fintech platform and e-commerce ecosystem

  • Uzum raises nearly $70 million in equity financing led by Tencent and VR Capital, with participation from FinSight Ventures
  • Uzum’s valuation surges to ~$1.5 billion post-money, reflecting the company’s rapid growth across fintech and e-commerce
  • Uzum Bank has emerged as the fastest-growing digital bank in Uzbekistan, issuing over 2 million co-branded Visa debit cards with embedded credit limits
  • Fintech services deeply integrated with Uzum’s e-commerce ecosystem
  • Fresh capital will be used to help drive the rollout of digital lending and deposit products, expand the Visa debit card program, and further scale financial infrastructure — with AI increasingly embedded across credit scoring, fraud prevention, and personalised user experiences

TASHKENT, Uzbekistan, Aug. 5, 2025 /PRNewswire/ — Uzum, Uzbekistan’s leading digital ecosystem, has secured nearly $70 million in equity financing from Tencent and VR Capital, with participation from FinSight Ventures—a U.S. fund focused on AI, fintech and super-app investments, and lead investor in Uzum’s first equity round completed in March 2024.

Tencent is a world-leading internet and technology company with a diverse portfolio of innovative products and services. It is listed on the Stock Exchange of Hong Kong.

 

Uzum Market pick-up point
Uzum Market pick-up point

 

VR Capital is a global alternative asset management firm with over $8 billion in assets under management. The firm has managed external capital for institutional investors since 1999, with a focus on investments in emerging and developed markets. VR Capital operates via its principal offices in New York and London.

This funding marks a significant increase in Uzum’s valuation since the March 2024 fundraise, bringing the company’s post-money valuation to approximately $1.5 billion, and comes against a backdrop of strong operating and financial traction delivered across key business segments.

Fintech momentum: Uzum Bank, the company’s digital banking unit, is now the fastest-growing bank in the country. Since launching its co-branded Visa debit card with pre-approved credit limits in August 2024, Uzum has issued over 2 million cards in 1H 2025, introducing Uzbekistan’s first embedded credit limit tied to a debit instrument. At the same time, Uzum’s consumer credit business, anchored by its market-leading BNPL offering, has more than tripled its total financed volume (TFV) in the first half of 2025.

E-commerce engine: The e-commerce segment—powered by Uzum Market (the largest national marketplace) and Uzum Tezkor (Uzbekistan’s leading express delivery service)—grew gross merchandise value (GMV) ~1.5x year-over-year in H1 2025. Uzum remains the only vertically integrated platform combining commerce and financial services at a national scale.

The company’s breakthrough valuation and new investment reflect its unparalleled market position and ambition. The proceeds from this round will be used to accelerate the buildout of Uzum’s proprietary fintech infrastructure, broaden its product suite, cementing its leadership across key verticals, and capture the full potential of Uzbekistan’s rapidly expanding digital economy.

Richard Deitz, Founder and President, VR Capital:

“Uzum embodies a unique confluence of a proven business model and first-mover advantage in a structurally underserved market. We are deeply impressed by the quality of the team and the remarkable progress the Company has achieved to date. It is our privilege to support Uzum’s continued growth through our investment.”

Alexey Garyunov, Managing Partner at FinSight Ventures:

“We believe Uzum represents one of the most compelling fintech and e-commerce growth stories in Central Asia. Since our initial investment last year, the company has achieved remarkable milestones — rapidly expanding its user base, launching new products, and driving monetization. The synergy across its diverse verticals has not only improved unit economics and reduced delinquency, but also lifted customer satisfaction and retention, reflected in a rising NPS and LTV. These dynamics mirror patterns we’ve seen in other breakout super-apps globally, and they’re reinforcing Uzum’s leadership in Uzbekistan’s digital economy. We see enormous untapped potential to layer new services for both consumers and merchants on top of Uzum’s existing platform. That’s exactly why we’re excited to double down in this new round and continue supporting Uzum on its journey.”

Djasur Djumaev, Founder and CEO of Uzum:

“In just two years, Uzum has built the most comprehensive digital ecosystem in Uzbekistan. Today, we’re reshaping how people shop, pay, and manage money. This new round of funding empowers us to deepen our fintech offerings and expand our leadership in digital banking and lending. We are delighted to welcome Tencent and VR Capital as new shareholders and proud to be working with tier-1 global investors who share our vision. It’s also a vote of confidence in our strategy to integrate financial services directly within the country’s largest e-commerce infrastructure.”

About Uzum

Uzum is a digital ecosystem and the largest digital platform in Uzbekistan, providing services spanning e-commerce, express delivery, banking and fintech, and business development. The ecosystem includes Uzum Market, an online marketplace with a wide range of products and one-day delivery across the country; Uzum Tezkor, an express delivery service from restaurants and stores; Uzum Bank, a digital bank; Kapitalbank, the country’s largest privately owned bank; Uzum Nasiya, an online unsecured lending service; and Uzum Business, an app for business customers. More than 17 million people — over half of Uzbekistan’s population, use Uzum services every month. Learn more at https://uzum.com/en/.

The Company is compliant with AML/FATFA proceedings and observes international sanctions regime in terms of its business operations and incoming and outcoming investments. 

About Uzbekistan

Uzbekistan, Central Asia’s most populous country and second-largest economy by nominal GDP, is undergoing a generational digital and financial transformation. With nearly 60% of its 37 million citizens under the age of 30, the country combines favourable demographics with strong GDP growth (6.5% in 2024) and rising consumer demand.

Despite high mobile penetration and rapidly expanding internet access (projected to exceed 87% by 2027), Uzbekistan remains significantly underbanked: over 40% of adults lack access to formal financial services, and digital lending and card issuance are still nascent. This creates a vast opportunity for fintech disruption — particularly embedded finance models integrated with commerce.

E-commerce in Uzbekistan is expected to grow at a CAGR of 40–47% to reach $2.2 billion by 2027, according to KPMG, making it the fastest-growing digital consumer market in Central Asia. With strong government backing for financial inclusion, investment in digital infrastructure, and favourable regulatory reforms, Uzbekistan has become a launchpad for scalable digital finance and technology-driven platforms.

 

 

World Intelligent Vehicle Conference 2025 Successfully Concludes

Writing a New Chapter for the Development of Intelligent Vehicles

CHONGQING, China, Aug. 5, 2025 /PRNewswire/ — World Intelligent Vehicle Conference (WIV) 2025 successfully concluded at the Chongqing Yuelai International Conference Center on July 31. Hosted by Asia Digital Group, the two-day event featured one opening ceremony and one main forum, 6 topic forums, and 8 thematic activities. Dozens of intelligent vehicle-related brands and over 100 Chinese and foreign distinguished guests from over 20 countries and regions participated in the WIV 2025, along with tens of thousands of visitors. They explored the worldwide intelligent vehicle development trends, and compared notes on Chinese-foreign automotive cooperation and development experiences. The conference showcased the fruits of intelligent vehicle progress, facilitated the accelerated convergence of worldwide high-end factors to China, and injected new impetus into Chongqing’s intelligent mobility industry development.

The brilliant minds come together to discuss the future development of intelligent vehicles

Efforts need to be made on policy, capital, talent and other sectors in order to propel the advancement of intelligent vehicle-related industries. Achieving high-quality development in the intelligent vehicle industry demands collaborative efforts across all levels and from a wider range of stakeholders.

The WIV 2025 received strong support from all sectors across the world. On the government side, a number of senior officials attended the conference, including Fu Baozong, Deputy Director-General of the International Cooperation Center, National Development and Reform Commission, Tu Xingyong, Deputy Director-General of Chongqing Municipal Commission of Economy and Information Technology, and Fabio Schina, Consul General of Italy in Chongqing. Their comprehensive strategic support for the intelligent vehicle industry, which encompasses national policies, local development plans, and international collaborations, reinforces the overall framework of smart mobility development. At the expert level, several distinguished scholars and company executives identified the development trends across the academic, technological, and R&D dimensions and emphasized the current focus of intelligent vehicle development in their addresses and keynote speeches. The speakers included Professor C.C.Chan, Academician of Chinese Academy of Engineering, Fellow of Royal Academy of Engineering, Founding President of World Electric Vehicle Association, Founder of International Academicians Science & Technology Innovation Centre, and Distinguished Chair Professor of Hong Kong Polytechnic University, Professor Jianwei Zhang, Foreign Academician of Chinese Academy of Engineering, and Zhu Dongfang, President of Asia Digital Group. At the enterprise level, industry leaders from various sectors offered their perspectives on the current situation and prospects for intelligent vehicles, informed by both their specialized expertise and corporate operational realities. The corporate executives included Zhang Xinghai, Chairman and Founder of SERES Group, Wayne Liu, Chairman of PCI Technology Group Co., Ltd., Leng Yan, Executive Vice President of Mercedes-Benz Group China, Frank Meng, Chairman of Qualcomm China, and Wu Xiaoru, President of iFLYTEK Co., Ltd. In his speech, Mr. Leng mentioned that Mercedes-Benz is not only the inventor of automobile, but also a pioneer and sustained innovator in autonomous driving. Mercedes-Benz stands out as the first luxury automaker to mass-produce cars equipped with Highway Pilot Assist. As the world’s only automotive company certified for both L3 and L4 autonomous driving, it has also become the first international brand to gain approval for conditional L3 and L4 road testing in Beijing, marking a methodical advancement in intelligent driving technology deployment. Its conditional L3 system is now commercially available in both Germany and the US.

During the summit dialogue session of the main forum, focusing on the theme of “Smart Mobility Powers Dual Circulation”, the moderator, Wang Jiping (Antonio Wang), Vice President of IDC China, talked with Kuang-I Shu, Academician of the Russian Academy of Engineering and Chief Scientist of Jiangsu Pulsar Technology Co., Ltd., Ye Shengji, Chief Engineer and Deputy Secretary General of China Association of Automobile Manufacturers, Wang Tan, Co-Founder of XPeng AEROHT, and Yang Hong, Chairman and President of Shenzhen Hangsheng Electronics Co., Ltd. Mr. Kuang-I Shu shared his insight on 6G technology. He highlighted that 6G communication will provide ubiquitous coverage across space, air, sea, and land, making it especially well-suited for high-altitude transmission. With exceptional real-time performance, ultra-low latency, and supreme reliability, it enables direct wireless data transmission without compression. Mr. Ye indicated that the ultimate aim of both China’s vehicle-road-cloud integration and the global pursuit of fully implemented single-vehicle intelligence (SVI) is to advance the large-scale industrialization of the automotive industry, specifically within the new energy vehicle (NEV) and intelligent connected vehicle (ICV) segments. Mr. Wang stated that XPeng will deliver the world’s first mass-produced flying cars in 2026. While the current definition of low-altitude economy covers airspace below 1,000 meters, there remains a gap between signal coverage and actual flight range. He hopes that combining aerial vehicles, roads, and cloud technology can boost the land aircraft carrier industry’s progress. Mr. Yang said that Chinese automakers going global is mandatory, not optional. In today’s globalized automotive industry, no single company or country can achieve everything alone. True integration requires an ecosystem approach, emphasizing shared creation and reciprocal benefits over a one-sided incorporation into the global landscape.

Collaborative discussions on the evolving landscape of intelligent vehicle technology

If we unravel the production chain of an intelligent vehicle—from the motor to the intelligent cockpit—it may involve hundreds of suppliers, thousands of modules, and tens of thousands of parts. The conference focused on key topics in intelligent vehicle development, encompassing a wide array of dimensions and fields. Each of the six topic forums was overflowing with participants immersed in deep discussions.

At the topic forum with the theme of “Towards a Future of Intelligent Mobility Tackling Core Technological Challenges in Intelligent Vehicles”, Yang Hong, Chairman and President of Shenzhen Hangsheng Electronics Co., Ltd., delivered a keynote speech titled “AI-empowered and Ecosystem-supported Electronic Reconstruction and Evolution of Intelligent Vehicles”. Xu Jian, Vice President of PCI Technology Group Co., Ltd., shared his thoughts with the presentation titled “From Laboratory to Open Roads: Reflections and Explorations on Autonomous Vehicle Safety Testing and Regulation”. Wang Haowei, Global Head of ADAS at JOYNEXT Technology Co., Ltd., elaborated on the idea of “How CCU supports AI-defined Vehicles”. Jiang Sheng, SVP of NavInfo, discussed the topic of “AI Infra and Data Closed Loop under the New Paradigm in Intelligent Driving”. Ning Wang, Vice President of Neusoft Reach, gave a speech on “Vehicle-Cloud Integration Platform Drives the Upgrade of AI-Powered Scenario Experiences”. Kai Yan, Vice President of CARLINX, explained the approach of “The Hyper Flow Platform Enabling Full-Scenario Application of Vehicle-Cloud Integration at a Faster Pace”. Dr. Erkang Cheng, Nullmax Chief Scientific Officer, presented the solution of “One Model Decoder-Advancing Autonomous Driving Intelligence”. Sun Jie, Co-Founder & CEO of LightIC Technologies, delivered a keynote titled “On-chip FMCW Laser Radar – The Compliers and Pioneers of Perception Stringency in Autonomous Driving”. Centered on the topic of “Critical Tech Innovations Drive Industrial Growth”, Chen Zifeng, Chief Editor of Intelligent Vehicles of Pacific Auto, Ning Wang, Vice President of Neusoft Reach, Deng Xing, Product Director of Wuhan Xuanyuan Idrive Technology Co., Ltd., Zhang Lu, Head of Volcano Engine’s Intelligent Driving Cloud Solution, and Jason Hu, AI Product Expert of Chongqing TINNOVE Technology Intelligence Ltd., had an in-depth communication. The topic forums with the theme of “Global Expansion: Seizing Opportunities in International Markets”, “Collaborative Innovation: Driving Cross-Sector Integration”, “Capital Empowerment: Pioneering New Frontiers in Industrial Investment”, “Link the World: Co-Create New Cross-Border Growth” and “Pilot Projects: Creating Diverse Application Scenarios” attracted many leaders and representatives from government, industry, academia, research, finance, service, and application sectors. The attendees spanned from Electric Vehicle Association Of Malaysia, Association Pour le Développement de la Nouvelle Route de la Soie (ADNRS), IDC, Volcano Engine, North American Auto Professional Association (NAAP), Equal Ocean, Gosuncn Technology Group, CHIPSEA, VANJEE Technology, CICT Connected and Intelligent Technologies, Shanghai Taifang Technology, Volcanics Venture, HYGOAL Capital, HSBC, QuestMobile, World Trade Point Federation, China Brand Institute, China Automotive Engineering Research Institute, Chongqing Liangjiang International Economic Cooperation Center, Meetsocial, MiracoMotor, KargoBot.ai, Rino.ai, QCraft, Neolix, UISEE, BJCW, to Auto Planet. They provided multidimensional insights into the development trends of intelligent vehicles from their respective perspectives.

Bringing the intelligent vehicle industry to the next level with multi-dimensional support

China’s auto sector, with “AI+intelligent driving” as the core driving force, is accelerating the global autonomous driving race. Maintaining this momentum requires both visionary leadership and ongoing critical evaluation.

The WIV 2025 featured 8 thematic activities, including Leaders’ Roundtable, Chongqing Intelligent Vehicle Closed-Door Think Tank Meeting, Product Launch of Intelligent Vehicle Ecosystem, Resource Matchmaking Conference of Intelligent Vehicle Ecosystem, Intelligent Vehicle Technology Innovation Competition, Business Investigation of Chongqing Intelligent Vehicle Ecosystem, Experience of Chongqing Intelligent Driving, and Exhibition of Sci-Tech Innovation Achievements in Intelligent Vehicle. From brainstorming and strategy discussion to achievement exhibition, followed by resource matchmaking and cooperative communication—this comprehensive platform provides robust support for China’s intelligent vehicle industry and Chongqing’s intelligent mobility future landscape.

At the Chongqing Intelligent Vehicle Closed-Door Think Tank Meeting, the participating panelists and local government officials discussed the approach to vehicle-road-cloud integration under the theme of “Jointly Drawing up the Blueprint for the Automotive Industry through Government-Enterprise Discussion and by Pooling the Wisdom of the Elites”. During the meeting, Fu Baozong, Deputy Director-General of the International Cooperation Center, National Development and Reform Commission, and Lin Geng, Chief Engineer of Chongqing Municipal Commission of Economy and Information Technology, detailed the national and local governments’ work plans for intelligent vehicle development, covering policy direction, development strategies, and overall deployment from both state and local perspectives. Professor C.C.Chan, Academician of Chinese Academy of Engineering, Fellow of the Royal Academy of Engineering, Founding President of World Electric Vehicle Association, Founder of the International Academicians Science & Technology Innovation Centre, and Distinguished Chair Professor of Hong Kong Polytechnic University, Kuang-I Shu, Academician of the Russian Academy of Engineering and Chief Scientist of Jiangsu Pulsar Technology Co., Ltd., Li Yidong, Dean of the School of Computer Science & Technology at Beijing Jiaotong University, Professor, and Doctoral Supervisor, and Zhu Dongfang, President of Asia Digital Group, proposed future development strategies, informed by their research and the latest intelligent vehicle technologies. Taking a global outlook, Fabio Schina, Consul General of Italy in Chongqing, Dennis Chuah, Chairman of Electric Vehicle Association Malaysia, and Chen Chaozhuo, Director of North American Auto Professional Association and automotive industry overseas expansion consultant, proactively analyzed intelligent vehicle development and proposed strategies to facilitate the international expansion of China’s intelligent cars, highlighting the importance of global collaboration for achieving win-win outcomes. Drawing upon their companies’ unique strengths, Wang Tan, Co-Founder of XPeng AEROHT, Yang Hong, Chairman and President of Shenzhen Hangsheng Electronics Co., Ltd., Zhu Chuanqin, Chairman of Chongqing VDL Electronics Co., Ltd., Gao Ming, Vice President of Black Sesame Technologies, and Dongsheng Wu, Senior Vice President of Gosuncn Technology Group, discussed the current state and emerging trends in intelligent vehicle development, with the goal of advancing the entire industry during this new phase of growth.

During the two-day conference, representatives from various sectors across the world visited Chongqing Yongchuan manufacturing base of Great Wall Motor (GWM) Company Limited, and carried out a detailed on-site investigation at GWM’s smart plant through the Business Investigation of Chongqing Intelligent Vehicle Ecosystem. They went to Chang’an Automobile Global Research and Development Center (Liangjiang New Area) and visited the State Key Laboratory of Intelligent Vehicle Safety Technology, gaining firsthand experience with smart manufacturing and technological innovations, and engaging directly with industry experts, technical specialists, and corporate executives to discuss advancements and the future of the sector.

Another highlight of the conference is the display of the latest intelligent vehicles made by a host of well-known brands, including Tesla, Yangwang, Denza, Fang Cheng Bao, Li Auto, XPeng, NIO, ONVO, Deepal, Avatr, Wey, Voyah, Leapmotor, and BYD’s Dynasty and Ocean series; MiracoMotor, Neolix, and Rino.ai presented their self-driving vehicles; Guangzhou Frontop Digital, Automotive Software Innovation Center (Chongqing), Kernelsoft, World Trade Point Federation (Switzerland) Chongqing Representative Office, Chongqing Automobile Supplies Industry Association, BIZMEDIA Group and other automotive industry chain enterprises also showcased their latest achievements in intelligent vehicle technology at the Exhibition of Sci-Tech Innovation Achievements in Intelligent Vehicle.

The WIV 2025 has concluded, but the synergy of technology, capital, and policy driving China’s intelligent vehicle revolution is undeniably intensifying. Let’s look forward together to a future of intelligent mobility that will reshape the automotive landscape.

 

Yum China Board Welcomes New Board Member

SHANGHAI, Aug. 5, 2025 /PRNewswire/ — Yum China Holdings, Inc. (the “Company” or “Yum China“) (NYSE: YUMC and HKEX: 9987) announced today the appointment of Mr. Zhe (David) Wei to the Board of Directors, effective August 6, 2025. In connection with the appointment, the Board has increased the size of the Board of Directors to 13 directors, 11 of whom are independent.

“We warmly welcome David as the newest member of our Board,” said Yum China’s Chairman Dr. Fred Hu. ”David brings deep insights in global and China consumer sectors and significant leadership experience in digital and e-commerce. I am confident that David will be a valuable contributor to our Board.”

Joey Wat, CEO of Yum China commented, “On behalf of the management team, I am delighted to welcome David to our Board of Directors. His extensive expertise in the consumer industry and digital will add immense value as we advance our dual focus on operational efficiency and innovation. I look forward to David’s contribution to our Board as we collaborate to drive sustainable and long-term shareholder value.” 

Zhe (David) Wei is the founding partner and chairman of Vision Knight Capital, a private equity fund manager focusing on investments in China. Prior to launching Vision Knight Capital in 2011, Mr. Wei served from 2007 to 2011 as an executive director and the chief executive officer of Alibaba.com Limited, a leading global e-commerce company wholly owned by Alibaba Group (NYSE: BABA; HKEx: 9988). Mr. Wei was the president from 2002 to 2006, and chief financial officer from 2000 to 2002 of B&Q (China) Co., Ltd., a subsidiary of Kingfisher PLC, a leading home improvement retailer in Europe and Asia. From 2003 to 2006, Mr. Wei was also the chief representative for Kingfisher’s China sourcing office. Prior to joining B&Q and Kingfisher, Mr. Wei served as the head of investment banking at Orient Securities Company Limited from 1998 to 2000 and as corporate finance manager at Coopers & Lybrand (now part of PricewaterhouseCoopers) from 1995 to 1998. Mr. Wei is currently a non-executive director of PCCW Ltd. (HKEx: 0008), JNBY Design Limited (HKEx: 3306) and Sansure Biotech Co., Ltd. (SHSE: 688289), and an independent director of Oriental Pearl Group Co., Ltd. (SHSE: 600637). Mr. Wei served on the boards of Leju Holdings Limited (formerly listed on NYSE) from April 2014 to March 2021, OneSmart International Education Group Limited (formerly listed on NYSE) from March 2018 to April 2021, Zall Smart Commerce Group Ltd. (HKEx: 2098) from April 2016 to January 2023, and Polestar Automotive Holding UK PLC (NASDAQ: PSNY) from June 2022 to June 2025. He was also a promoter and executive chair of Vision Deal HK Acquisition Corp. from January 2022 to June 2025 (formerly listed on HKEx). Mr. Wei holds a bachelor’s degree in international business management from Shanghai International Studies University.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as “expect,” “expectation,” “believe,” “anticipate,” “may,” “could,” “intend,” “belief,” “plan,” “estimate,” “target,” “predict,” “project,” “likely,” “will,” “continue,” “should,” “forecast,” “outlook,” “commit” or similar terminology. These statements are based on current estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable under the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct. Forward-looking statements include, without limitation, statements regarding the future strategies, growth and business plans. Forward-looking statements are not guarantees of performance and are inherently subject to known and unknown risks and uncertainties that are difficult to predict and could cause our actual results or events to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or assumptions will be achieved. The forward-looking statements included in this press release are only made as of the date of this press release, and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law. Numerous factors could cause our actual results or events to differ materially from those expressed or implied by forward-looking statements. In addition, other risks and uncertainties not presently known to us or that we currently believe to be immaterial could affect the accuracy of any such forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. You should consult our filings with the Securities and Exchange Commission (including the information set forth under the captions “Risk Factor” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q) for additional detail about factors that could affect our financial and other results.

About Yum China Holdings, Inc.

Yum China is the largest restaurant company in China with a mission to make every life taste beautiful. The Company operates over 16,000 restaurants under six brands across over 2,400 cities in China. KFC and Pizza Hut are the leading brands in the quick-service and casual dining restaurant spaces in China, respectively. In addition, Yum China has partnered with Lavazza to develop the Lavazza coffee concept in China. Little Sheep and Huang Ji Huang specialize in Chinese cuisine. Taco Bell offers innovative Mexican-inspired food. Yum China has a world-class, digitalized supply chain, which includes an extensive network of logistics centers nationwide and an in-house supply chain management system. Its strong digital capabilities and loyalty program enable the Company to reach customers faster and serve them better. Yum China is a Fortune 500 company with the vision to be the world’s most innovative pioneer in the restaurant industry. For more information, please visit https://ir.yumchina.com/.

Contacts

Investor Relations Contact:
Tel: +86 21 2407 7556
IR@YumChina.com 

Media Contact:
Tel: +86 21 2407 8288 / +852 2267 5807
Media@YumChina.com