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Cushman & Wakefield Greater China Wins Three Best Five-Star Awards at 2025 Asia Pacific Property Awards


HONG KONG SAR – Media OutReach Newswire – 19 June 2025 – Cushman & Wakefield, a leading global real estate services firm, has again been recognized at the Asia Pacific Property Awards, scoring three best Five Star Awards plus one “Award Winner” for outstanding achievements in the Greater China commercial real estate market, highlighting the firm’s leading industry position and exceptional service offerings.

  • Best Property Agency/Consultancy China — Five Star Award
  • Best Property Agency/Consultancy Marketing, Hong Kong (Habour East, Hong Kong, Capital Markets) — Five Star Award
  • Best Real Estate Agency Marketing, China (The Center, Shanghai, Project & Occupier Services) — Five Star Award
  • Lettings/Rentals Agency China — Award Winner

KK Chiu, Chief Executive, Greater China, Cushman & Wakefield, said, “I am delighted that we have won such high acclaim for our performance excellence. This recognition from the 2025 Asia Pacific Property Awards again demonstrates our teams’ market-leading capabilities and strong commitment to our clients in the Greater China real estate market.”

In the Best Property Agency/Consultancy Marketing award category, Cushman & Wakefield’s Capital Markets team facilitated leading Chinese sports brand Li Ning Company Ltd’s acquisition of the Harbour East office tower, in Hong Kong’s North Point district, from Henderson Land. The property has been renamed the Hong Kong Li-Ning Building. With this transaction the Capital Markets team transitioned Li Ning from leasing to ownership status, enabling the brand to establish a new Hong Kong headquarters location.

Francis Li, Vice President, Greater China, Head of Capital Markets, Greater China at Cushman & Wakefield, added: “We are extremely proud that our Capital Markets team’s performance and commitment to problem-solving through the Habour East acquisition project has been recognized at the 2025 Asia Pacific Property Awards. Our team’s knowledge of the rapidly changing market, coupled with deep connections with local investors, developers, and institutional investors, has enabled us to complete total transaction volume of nearly HK$40 billion in the past five years, serving our clients with unrivalled excellence.”

In the Best Real Estate Agency Marketing, China, award category, Cushman & Wakefield’s Project & Occupier Services team took on a significant role in marketing The Center, a prestigious Grade A office property in downtown Shanghai and one of the most iconic projects from Hutchinson Whampoa Limited. As the main asset management service provider, the team fully leveraged the property’s comprehensive renovation combined with its 20th anniversary milestone. The team implemented an array of marketing approaches, generating a fresh new image for The Center and bringing the project into the top-tier of preferred locations for leading consulting firms, financial institutions and multinational corporations.

Jonathan Wei, President of Project & Occupier Services, China, Cushman & Wakefield, commented, “Congratulations to the team for this top honor at the 2025 Asia Pacific Property Awards. Our team focuses on providing comprehensive and diversified real estate brokerage services to corporate clients, developers, governments, real estate investment funds and institutions. With our extensive resources and in-depth market insights, we will continue to play an integral role in driving high-quality brokerage and letting services”

Besides Greater China, Cushman & Wakefield India has also won recognition from the 2025 Asia Pacific Property Awards, securing two wins:

  • Best Property Agency / Consultancy, India — Five Star Award
  • Best Real Estate Agency Single Office, India — Five Star Award

Established in 1993, the Asia Pacific Property Awards (APPA) is part of the global International Property Awards, which celebrate the highest levels of achievement by companies operating in all sectors of the property and real estate industry. The Awards are judged by an independent panel of over 80 industry experts who evaluate design, quality, service, innovation, originality, and commitment to sustainability.

Hashtag: #Cushman&Wakefield

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

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2024, the firm reported revenue of $9.4 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit or follow us on LinkedIn ().

First Equestrian Federation in Laos Sets Stage for Horse Sport Growth

Phout Simmalavong, the former of Ministry of Education and Sports (blue shirt with glasses) attending the opening event of Laos Equestrian Federation. (Photo: The Next Media)

Laos officially entered the world of horse sport with the establishment of its first Equestrian Federation on 26 May.

Key Concept Strengthens Capabilities with Team Expansion In 2025


SINGAPORE – Media OutReach Newswire – 19 June 2025 – Key Concept, a leading interior design firm in Singapore, is proud to announce a strategic team expansion in 2025, marking a significant step in the company’s ongoing growth and commitment to cultivating new talent in the interior design industry.

This expansion reflects Key Concept’s dedication to nurturing the next generation of designers. By creating a supportive and inspiring environment, the firm aims to empower aspiring interior designers—especially recent graduates and career switchers—by offering hands-on experience, creative mentorship, and meaningful career development. With the increasing demand for quality condo interior design, BTO home renovation, and resale flat renovation projects, Key Concept is scaling its team to meet client needs while enriching the industry with fresh perspectives and ideas.

Founded with a mission to make quality interior design accessible and personal, Key Concept specialises in transforming everyday spaces into functional and stylish homes. The firm is known for its client-first approach, attention to detail, and innovative solutions tailored to Singapore’s unique housing landscape.

As part of its forward-looking plans, Key Concept is also excited to announce Key Concept Grand Opening Event, a special event happening this June. More than a showcase, the event celebrates the firm’s evolution, creativity, and the vibrant community it serves. Homeowners attending the event can expect exclusive offers, including additional discounts on project sign-ups during the event period.

Whether it’s modern condo makeovers or thoughtful HDB transformations, Key Concept continues to set the standard in Singapore’s interior design landscape—balancing function, style, and individuality through every project.

For more information, please visit https://www.keyconcept.com.sg/.
Hashtag: #KeyConcept



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

UNESCO and SACIT Join Hands with ICONCRAFT to Celebrate Thai Artisans and Thailand’s Creative Cities Network

A landmark exhibition of Thai artisanship and contemporary design, inspired by the UNESCO Creative Cities Network and featuring two debut clutches handcrafted from master-woven textiles by the SIRIVANNAVARI brand


BANGKOK, THAILAND – Media OutReach Newswire – 19 June 2025 – UNESCO and Sustainable Arts and Crafts Institute of Thailand (Public Organization), a national agency promoting Thai craftsmanship, have joined hands with ICONCRAFT—Thailand’s hub of creative innovation–to launch the campaign, “UNESCO x SACIT x ICONCRAFT: A Celebration of Thai Artisans and Creative Cities.”

“UNESCO x SACIT x ICONCRAFT A Celebration of Thai Artisans and Creative Cities” (2)

This nationwide initiative celebrates the cultural legacy of Thai textile traditions from the seven UNESCO Creative Cities across Thailand. These heritage textiles, crafted by national master artisans, are reimagined into contemporary fashion pieces by seven of Thailand’s top design houses, as well as the prestigious brand SIRIVANNAVARI, founded by Her Royal Highness Princess Sirivannavari Nariratana Rajakanya.

The event, attended by UNESCO Director – General Audrey Azoulay, on her first official visit to Thailand, launches a long-term collaboration to empower cultural entrepreneurs, promote sustainable innovation, and inspire youth to pursue careers in the creative economy. It also reinforces Thailand’s commitment to the UNESCO Creative Cities Network (UCCN), which includes more than 350 cities worldwide. Thailand’s recognized Creative Cities–Phuket, Chiang Mai, Bangkok, Sukhothai, Phetchaburi, Chiang Rai, and Suphanburi–serve as the foundation for this initiative and their distinctive cultural assets inspire the designs on display.

Event Highlights

At the heart of this exhibition is a collaboration between seven top-tier Thai fashion brands and local artisan groups, with each designer creating two exclusive outfits inspired by a different Creative City—14 looks in total:

  • ATELIER PICHITA – Designs inspired by the Tai Lue textiles of the Tai Lue Weaving Group by Master Dokkaew from Chiang Rai
  • THEATRE – Designs using Black Tai (Thai Song Dam) textiles from Ban Don Manow Thai Song Dam Weaving Group in Suphanburi
  • CHAI GOLD LABEL – Designs drawing from Northern-style batik by Rak Batik Group in Chiang Mai
  • HOOK’S BY PRAPAKAS – Designs based on hand-painted batik from Ying Batik Paint Group in Phuket
  • WISHARAWISH – Designs using the intricately patterned Pha Lai Yang fabric by Phusa Pha Lai Yang in Phetchaburi
  • PYVET – Designs crafted from Porcupine Pattern Pha Jok by Suntaree Thai Textile in Sukhothai
  • JANESUDA – Designs showcasing brightly colored batik from Marionsiam in Bangkok

SIRIVANNAVARI x Chansoma Collaboration

Among the standout creations are two exclusive clutch bags, personally designed by Her Royal Highness Princess Sirivannavari Nariratana Rajakanya. Crafted from Kaew Ching Duang silk–a textile symbolizing prosperity and harmony–these pieces were handwoven by nationally honoured master artisan Weeratham Taragoonngernthai, founder of the Chansoma brand in Surin Province. Embroidered with exquisite detail, each clutch is a one-of-a-kind creation, specially designed for this occasion.

Royal Ensemble Exhibition

Another event highlight is the first-ever public exhibition in Thailand of eight Royal Thai Ensembles worn by Her Royal Highness Princess Sirivannavari Nariratana Rajakanya, curated by the Queen Sirikit Museum of Textiles. The designs, by Tirapan Wannarat, founder of the Tirapan fashion house and Thailand’s 2019 National Artist in Visual Arts (Fashion Design), will be on display from June 25–29 at ICONLUXE AVENUE, M Floor, ICONSIAM.

Featured ensembles include:

  • Thai Ruean Ton Dress – Crafted from brocade silk with Chao Fa motifs, inspired by traditional teakwood houses in Dusit Palace
  • Thai Chitralada Dress – A formal silk outfit with standing collar and embroidered white floral patterns
  • Thai Amarin Dress – A pink silk pha sin featuring golden rose vines, historically associated with the birthday of King Rama V

Event Schedule

The special collection will debut at Crafts Bangkok 2025, from 18–22 June 2025 at the Queen Sirikit National Convention Center, before its formal launch on 25 June at ICONSIAM.

Alongside the textile showcase and royal attire exhibition, visitors will have the rare opportunity to purchase or bid on selected pieces. A special auction will include the limited-edition silk clutches by SIRIVANNAVARI. Proceeds will support a UNESCO initiative to expand access to creative education for young people in Thailand’s Creative Cities.

Don’t miss this chance to celebrate Thai cultural heritage, admire the craftsmanship of local masters, and witness how creativity continues to shape Thailand’s future.

Hashtag: #ICONCRAFT #ICONCRAFTatICONSIAM #ICONSIAM #SIAMPIWAT #SACIT #UNESCO

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

Laos Celebrates International Day of the Midwife with Renewed Commitment to Maternal Health

Laos joined the global community in celebrating the International Day of the Midwife, honoring the vital role midwives play in safeguarding maternal and newborn health, especially in remote and underserved communities. Amari Hotel, Vientiane Capital. 8 June 2025. (photo credit: UNFPA Laos)

On 18 June, Laos joined the global community in celebrating the International Day of the Midwife, honoring the vital role midwives play in safeguarding maternal and newborn health, especially in remote and underserved communities. 

Held in Vientiane, the celebration was organized by the Ministry of Health, the Lao Association of Midwives, United Nations Population Fund (UNFPA), United Nations International Children’s Emergency Fund (UNICEF), World Health Organization (WHO), and partners. It brought together government leaders, development partners, and health workers to honor midwives and reaffirm commitments to improving maternal health and midwifery services.

Over the past two decades, Laos has seen a significant decline in maternal mortality, from 609 maternal deaths per 100,000 live births in 2000 (United Nations Estimates) to 112 in 2023, a reduction of over 80 percent, far exceeding the global average. Midwives have been central to this progress.

“Midwives are the backbone of our maternal health system,” said Aphone Visathep, Deputy Minister of Health. “Their work not only saves lives, it builds trust and brings services closer to the people. Today, we reaffirm our commitment to ensuring that every health facility has at least one trained midwife by 2030, especially in rural and ethnic communities.”

The celebration featured heartfelt testimonies from midwives on the ground, including Beng Seanmeung, a 22-year-old ethnic midwife from Saravan province. Inspired to join the profession after witnessing a neighbor’s life-threatening childbirth, Beng is now one of 93 ethnic midwives trained since 2010 under UNFPA support, bridging cultural and geographic gaps to deliver safe maternal care.

Thomas Lammar, Chargé d’Affaires at the Embassy of Luxembourg, reiterated Luxembourg’s long-standing support for maternal health in Laos. 

“Midwives are central to building strong, resilient health systems that leave no one behind,” he said. “We celebrate their essential contributions and reaffirm our partnership for a healthier future.”

UNFPA’s Deputy Regional Director, Alexandar Sasha Bodiroza, highlighted the evolving role of midwives: “Midwives do far more than deliver babies. They deliver dignity, knowledge, and the right to health. To reach our goal of one midwife per primary healthcare facility by 2030, sustained investment is essential.”

The event also served as the launch platform for the Midwifery Action Plan 2025-2035, which outlines five key pillars: education, regulation, workforce development, enabling environment, and community engagement. 

Notably, three midwifery schools in Laos  have achieved international accreditation, the first of their kind in the Asia-Pacific region.

“When a skilled midwife stands with a mother, she is laying the foundation for a stronger future, not only for the child but for the entire nation,” said UNICEF Country Representative Bilal Aurang Zeb Durrani.

Lao midwifery students performed a stage play to honor the vital role of midwives in maternal and newborn care. (photo credit: UNFPA Laos)

The event concluded with a cultural performance by midwifery students, field stories, and the global launch of WHO’s new Implementation Guidance on Transitioning to Midwifery Models of Care, co-developed with UNFPA, UNICEF, and the International Confederation of Midwives. This framework supports countries in empowering midwives as leaders of quality, person-centered care.

 

Jamf unveils 2025 Security 360 Report: A strategic look at Mac and mobile security risks

Report identifies phishing, infostealers, and OS vulnerabilities as top concerns for organizations


HONG KONG SAR – Media OutReach Newswire 19 June 2025 – Jamf (NASDAQ: JAMF), the standard in managing and securing Apple at work, today released its Security 360 Report, separated into analyses for mobile and macOS environments. The report spotlights the risks organizations are facing and offers insights for security leaders to consider when protecting their organizations at the user, device, application and network levels.

“Our goal with this research is to inform security leaders about the risks impacting their organizations – whether those risks impact Mac or mobile – and provide tangible recommendations for safeguarding their organizations against increasingly sophisticated attacks,” said Josh Stein, VP of Product Strategy at Jamf. “Age-old threats like phishing remain extremely prevalent and cannot be overlooked…nor can threats skyrocketing in popularity like infostealers. Jamf remains deeply committed to continuous threat research to not only protect our customers but also contribute valuable insights to the broader security community.”

Threat trends facing mobile environments

For many employees, mobile devices are the sole devices used at work. Regardless of occupation, the modern workplace is about empowering employees to connect from anywhere, at any time and on any device. This requires raising awareness about the most pervasive threats facing mobile devices and taking tangible steps to keep bad actors at bay.

Jamf’s mobile device threat analysis is structured into four categories found to be the highest priorities for organizations worldwide.

Mobile phishing

With mobile devices keeping us connected everywhere, attackers’ reach continues to expand. Over 12 months, Jamf identified approximately 10 million phishing attacks, discovered that 25% of organizations were impacted by a social engineering attack, and 1 in 10 users clicked on a malicious phishing link. Training programs can be extremely valuable in mitigating phishing attacks, as can adopting a layered approach with zero-trust methodology.

Vulnerability management

Jamf discovered that 32% of organizations operate at least one device with critical vulnerabilities and 55.1% of mobile devices used at work are running on a vulnerable operating system (OS). Both Apple and Google routinely provide security updates to patch known vulnerabilities, and the best way to mitigate damage is to update devices accordingly.

Application risk and malware

Earlier this year, Jamf published research on a Transparency, Consent and Control (TCC) bypass vulnerability affecting iOS devices and published a demonstration of how a ‘sideloaded’ app (an app from a third-party app store) can infringe on users’ privacy. The harsh reality is that using the latest OS is still not enough to protect your organization – good security practices must extend to the application layer as well.

Malware and spyware

High-profile users such as journalists, politicians and diplomats are often targeted by mercenary spyware attacks. Just last year, Apple sent notices of spyware compromise to users in approximately 100 countries. While malware is not as pervasive on mobile devices, when discovered, it is found to be extremely advanced and targeted. Organizations must treat mobile like every other endpoint and avoid getting complacent about the threat of mobile malware.

Threat trends facing macOS environments

What began as a machine for executives and creatives is becoming increasingly ingrained into the daily operations of enterprises across all industries worldwide. The threat landscape for Mac is more diverse than ever, and bad actors are only getting more creative with their attack methodologies. Jamf’s Mac threat report analyzes the threat landscape affecting Macs and organizes the findings into three main categories:

Application risk and malware

Jamf discovered that infostealers accounted for 28.36% of all Mac malware Jamf examined, skyrocketing from accounting for just 0.25% in last year’s report. Jamf’s research is aligned with these findings. Employees of organizations in high-profile industries (like crypto), must remain vigilant from both a training and security tool standpoint.

Vulnerability management

Jamf Threat Labs has dispelled the myth that Mac is invincible multiple times, including just last year when the team discovered a vulnerability in Gatekeeper, a crucial component blocking apps downloaded from the internet that don’t have a valid developer ID. Having the right controls and training is crucial for mitigating risks caused by vulnerabilities on macOS.

Social engineering

With Macs becoming more common at work, the attack surface continues to expand. Phishing is typically thought of as email-specific, which is far from the truth. In fact, Jamf Threat Labs published research discussing a campaign from the Democratic People’s Republic of Korea (DPRK) that uses LinkedIn messaging as an initial lure. Training employees in the various forms of phishing that can impact the Mac environment is critical for avoiding fallout.

Methodology

Jamf examined 1.4 million devices protected by Jamf. The analysis was carried out in the first quarter of 2025, revisiting the prior 12-month period and spanning globally across 90 countries and multiple platforms – specifically, iOS and iPadOS and Android devices for mobile as well as Macs. The analysis in this report is informed by Jamf’s Threat Intelligence, a broad collection of insights that are derived from original threat research, real-world usage metrics, along with news analysis and data feeds.

Hashtag: #Jamf

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

About Jamf

Jamf’s purpose is to simplify work by helping organizations manage and secure an Apple experience that end users love and organizations trust. Jamf is the only company in the world that provides a complete management and security solution for an Apple-first environment that is enterprise secure, consumer simple and protects personal privacy. To learn more, visit jamf.com.

Invented in Hong Kong, EXOTICA UMAMI [EX M], a new and natural flavour enhancer gets stamp of approval from professional chefs


HONG KONG SAR – Media OutReach Newswire – 19 June 2025 – A versatile and revolutionary new seasoning and cooking sauce is gaining attention from chefs in the restaurant industry.

241119 Exotica0840

Invented in Hong Kong by food visionary Dan Gan, EXOTICA UMAMI (known to Chinese speakers simply as, “Ex M”) is an excellent new alternative for salt, soy sauce and MSG, making food succulent and juicy, plus with a distinctly addictive taste, while in some cases tenderizing the meat or produce. This new and natural flavour enhancer – with distinct acidic notes and a deep full-bodied umami richness – is ideal for marinating, seasoning, cooking, finishing a dish and taking it to new culinary heights.

This innovative umami sauce was inspired by an ancient Roman recipe but developed and created here in Hong Kong at Gan’s Exotica Gelatea Restaurant with 80-days fermentation. When his chef quit, Gan the proprietor was forced to take over. In an effort to improve his food, he created this marinate to add directly to his hamburger while grilling. The result helped earn a place on the “Ranked: the world’s best burgers” list by UK platform, Lovefood.

To further refine his revolutionary seasoning sauce, Gan put his outlet on pause for the time being. Using a mixture of pork, herb, spice and secret ingredients with time-tested fermenting techniques, Gan started experimenting with his marinate to improve it to complement the requirements for fine dining. Eventually, EXOTICA UMAMI [EX M]was created.

“I’m not a chef and I don’t have any training, but I just wanted my burger to stand out. I found this ancient 2,000 year-old Roman sauce recipe and thought I would try it. I introduced some modern techniques and changed the recipe, constantly refining the formula. I added it to my burger and suddenly everyone was saying it’s so juicy and tender and they couldn’t get enough of it. I couldn’t believe it when food writers started saying it was one of the world’s best burgers,” says Gan.

Made in small batches, the unique multifunctional sauce has already gained a stamp of approval from the hotel, restaurant and F&B industry. One example is the New World Millennium Hotel’s Chinese restaurant, Tao Li which recently offered a set featuring EXOTICA UMAMI in dishes like Smoked Diced Cod, Pan-fried East Spotted Garoupa Fillets and Poached Chicken. In addition, Towngas Cooking Centre in Causeway Bay will be planning to have Cooking Practice and Demonstration Courses of EXOTICA UMAMI starting in July/August 2025.

For chefs, it offers the benefit of saving time and money while generating more flavour. As a marinate or direct application, in some cases it can also help tenderize meat and produce.

Currently, EXOTICA UMAMI is exclusively available to industry professionals and not actively sold in retail. However, EXOTICA UMAMI can be purchased at the JW Marriott e-shop and will be available at Towngas Cooking Centre in Causeway Bay from 1 July for non industry professionals. For anyone interested in more information or details about the sauce or how to purchase, contact: info@exoticaconcepts.com. More information can also be found at www.exotica-gelatea.com
Hashtag: #ExoticaUmami #Umami #ExM #鮮味 #萬能醬

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

Gorilla Technology Reports First Quarter 2025: Profitability, Global Execution and Momentum Drive 109% Revenue Increase


Q1 2025 revenue surged to $18.3 million, marking over 109% year-on-year growth.
Total cash reserves held firm at $33.8 million, while debt was strategically reduced to $18.4 million, reinforcing our financial agility. —

London, United Kingdom–(Newsfile Corp. – June 18, 2025) – Gorilla Technology Group Inc. (NASDAQ: GRRR) (“Gorilla” or the “Company”), a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology, today reported financial results for Q1 2025 which ended 31 March, 2025.

Key highlights Include:

  • Exceptional Revenue Growth: Q1 2025 revenue rose to $18.3 million, driven by several mission-critical global agreements. This performance cements Gorilla’s operational strength, market credibility and leadership in AI-powered security and infrastructure.
  • Strong Balance Sheet: Gorilla ended Q1 with a healthy $33.8 million in cash, including $20.8 million in unrestricted cash. This solid liquidity base provides flexibility to execute on opportunities and power future expansion.
  • Disciplined Debt Reduction: Gorilla cut debt to $18.4 million, down from $21.4 million at year-end 2024, freeing up pledged deposits and sharpening capital efficiency. We will continue to deleverage aggressively wherever it strengthens value and remains cash-neutral, reinforcing a balance sheet built for scale and speed.
  • Adjusted EBITDA: Reached $5.16 million, up from $3.50 million in Q1 2024, a 47.5% year-on-year increase that underscores Gorilla’s expanding operating leverage, disciplined execution and profitable growth trajectory.
  • Adjusted net income: Rose 46.7%, to $4.47 million, compared to $3.05 million in the prior-year quarter, highlighting strong underlying earnings power and margin control despite global scale-up
  • Adjusted EPS: Climbed to $0.23, marking a sharp turnaround from a basic loss per share of $1.47 in Q1 2024.
  • Strategic Investment in Long-Term Value: Our SAFE investment in One Amazon strengthens a game-changing partnership at the heart of global sustainability. As the core technology partner, Gorilla is deploying large-scale IoT infrastructure across the Amazon rainforest, cementing our position as a front-runner in climate intelligence and next-generation environmental innovation.
  • Accelerating Global Momentum: Gorilla’s pipeline now exceeds $5 billion, consisting of qualified leads where we have determined that there is a will and a budget to move forward and that we can close a deal within the next 12 months. This has been fueled by rapid expansion across the United States, MENA, Southeast & East Asia, South America and the United Kingdom. Our growing contract base, execution track record and market demand position us not just as a growth story, but as a global force in AI-powered transformation.

Statement from Jay Chandan
“Gorilla has launched into 2025 with power, precision and clarity of purpose. This quarter is not just a performance milestone – it is proof of trajectory. Revenue is up, margins are firm and profitability is no longer aspirational, it is embedded. With momentum on our side, we are no longer just building our pipeline, we are converting at scale, compounding growth across borders and deepening trust with some of the world’s most ambitious partners.”

“From reshaping energy infrastructure in Thailand to enabling climate-tech at scale in the Amazon, Gorilla is fast becoming the default partner for governments and mid-sized enterprises looking to future-proof their nations. With a strong revenue pipeline and cash base, as well as our relentless operational focus, we are entering our next phase – one of acceleration, execution and measurable value creation.”

Financials

GORILLA TECHNOLOGY GROUP INC. AND SUBSIDIARIES
UNAUDITED CONDENSED QUARTERLY CONSOLIDATED BALANCE SHEETS
AS OF MARCH 31, 2025 AND DECEMBER 31, 2024
(Expressed in United States dollars)

Items March 31,
2025
(Unaudited)
December 31,
2024
(Audited)
Assets
Current assets
Cash and cash equivalents $ 20,813,810 $ 21,699,202
Financial assets at fair value through profit or loss – current 1,000 1,000
Restricted deposits – current 12,959,625 15,773,099
Unbilled receivables (Contract assets) 44,289,520 34,306,195
Accounts receivable, net 25,621,462 25,670,157
Inventories 5,138 5,199
Prepayments – current 22,707,832 28,632,212
Other receivables, net 385,234 432,696
Other current assets 137,547 151,816
Total current assets 126,921,168 126,671,576
Non-current assets
Property and equipment 14,899,703 14,939,143
Right-of-use assets 466,391 505,345
Intangible assets 2,830,788 2,931,661
Deferred income tax assets 7,401,420 6,938,213
Prepayments – non-current 287,483 315,304
Financial assets at fair value through profit or loss – non-current 1,500,000
Other non-current assets 1,456,777 1,494,740
Total non-current assets 28,842,562 27,124,406
Total assets $ 155,763,730 $ 153,795,982
Items March 31,
2025
(Unaudited)
December 31,
2024
(Audited)
Liabilities and Equity
Liabilities
Current liabilities
Short-term borrowings $ 12,609,505 $ 15,073,458
Contract liabilities 264,919 273,227
Accounts payable 22,681,772 26,039,076
Other payables 2,291,424 2,451,135
Provisions – current 58,994 37,673
Lease liabilities – current 209,531 210,448
Current income tax liabilities 10,029,276 9,028,829
Warrant liabilities 1,039,726 20,082,272
Long-term borrowings, current portion 1,888,708 1,972,371
Other current liabilities, others 87,543 142,796
Total current liabilities 51,161,398 75,311,285
Non-current liabilities
Long-term borrowings 3,886,654 4,372,188
Provisions – non-current 37,989 22,013
Deferred income tax liabilities 221,950 42,897
Lease liabilities – non-current 485,201 579,699
Guarantee deposits received 359,788 364,047
Total non-current liabilities 4,991,582 5,380,844
Total liabilities 56,152,980 80,692,129
Equity
Equity attributable to owners of parent
Share capital
Ordinary share 21,407 19,443
Capital surplus
Capital surplus 287,234,895 254,585,267
Retained earnings
Accumulated deficit (152,797,036) (148,238,729 )
Other equity interest
Financial statements translation differences of foreign operations (1,641,888) (55,500 )
Treasury shares (33,206,628) (33,206,628 )
Equity attributable to owners of the parent 99,610,750 73,103,853
Total equity 99,610,750 73,103,853
Significant contingent liabilities and unrecognized contract commitments
Total liabilities and equity $ 155,763,730 $ 153,795,982

GORILLA TECHNOLOGY GROUP INC. AND SUBSIDIARIES
UNAUDITED CONDENSED QUARTERLY CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
THREE MONTHS ENDED MARCH 31, 2025 AND 2024
(Expressed in United States dollars)

Three Months Ended
March 31
Items 2025
(Unaudited)
2024
(Unaudited
and
Unreviewed)
Revenue $ 18,258,999 $ 8,736,068
Cost of revenue (11,850,617 ) (1,299,438 )
Gross profit 6,408,382 7,436,630
Operating expenses:
Selling and marketing expenses (330,647 ) (387,838 )
General and administrative expenses (3,458,299 ) (3,122,292 )
Research and development expenses (570,240 ) (846,355 )
Currency exchange losses, net* (4,418,096 ) (6,455,655 )
Fair value remeasurement of financial instruments (1,838,049 ) (8,037,431 )
Other income 46,361 18,544
Other losses, net (8,497 ) (31,191 )
Total operating expenses (10,577,467 ) (18,862,218 )
Operating loss (4,169,085 ) (11,425,588 )
Non-operating income (expenses)
Interest income 562,792 173,298
Finance costs (154,992 ) (218,789 )
Total non-operating income (expenses) 407,800 (45,491 )
Loss before income tax (3,761,285 ) (11,471,079 )
Income tax expense (797,022 ) (51,747 )
Loss for the period (4,558,307 ) (11,522,826 )
Other comprehensive loss
Components of other comprehensive loss that may not be reclassified to profit or
loss
Remeasurement of defined benefit plans 3,223
Components of other comprehensive loss that may be reclassified to profit or loss
Exchange differences on translation of foreign operations (1,586,388 ) (1,191,786 )
Other comprehensive loss for the period, net of tax (1,586,388 ) (1,188,563 )
Total comprehensive loss for the period (6,144,695 ) (12,711,389 )
Loss per share
Basic loss per share $ (0.23 ) $ (1.47 )
Diluted loss per share $ (0.23 ) $ (1.47 )
Weighted average shares of ordinary shares outstanding
Basic 19,497,913 7,864,962
Diluted 19,497,913 7,864,962

* During the three months ended March 31, 2025 and 2024, net currency exchange losses amounted to $7,188,047 and $6,533,377, respectively, due to devaluation of monetary assets denominated in the Egyptian pound arising from the sharp depreciation of the Egyptian pound against the U.S. dollar in March 2024.

GORILLA TECHNOLOGY GROUP INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
THREE MONTHS ENDED MARCH 31, 2025 AND 2024
(Expressed in United States dollars)

Three Months Ended
March 31
2025
(Unaudited)
2024
(Unaudited
and
Unreviewed)
CASH FLOWS FROM OPERATING ACTIVITIES
Loss before tax $ (3,761,285 ) $ (11,471,079 )
Adjustments
Adjustments to reconcile loss
Expected credit losses 6,110
Depreciation expenses 153,083 134,665
Amortization expenses 154,387 220,837
Gain on disposal of property, plant and equipment (73 )
Share-based payment expenses 271,050
Share-based compensation expenses 216 (137,558 )
Interest expense 154,992 218,789
Interest income (562,792 ) (173,298 )
Unrealized exchange loss 4,624,595 6,413,610
Losses on financial liabilities at fair value through profit or loss 1,838,049 8,037,430
Losses on financial assets at fair value through profit or loss 19,978
Changes in operating assets and liabilities
Changes in operating assets
Unbilled receivables (Contract assets) (18,224,234 ) (6,844,922 )
Accounts receivable, net 988,290 1,352,608
Inventories (946 )
Prepayments 6,743,194 193,630
Other receivables 9,187
Other current assets 15,707 67,079
Other non-current assets 24,573
Changes in operating liabilities
Contract liabilities (4,750 ) (48,645 )
Accounts payable (3,328,962 ) (1,377,745 )
Other payables (121974 ) (407,626 )
Provisions 38,251 (48,682 )
Other current and non-current liabilities (56,910 ) 73,450
Cash outflow generated from operations (11,072,983 ) (3,744,738 )
Interest received 610,494 170,112
Interest paid (184,878 ) (150,651 )
Tax paid (12,499 ) (15,033 )
Net cash flows used in operating activities (10,659,866 ) (3,740,310 )
Three Months Ended
March 31
2025
(Unaudited)
2024
(Unaudited
and
unreviewed)
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES
Acquisition of property and equipment (237,893 ) (104,144 )
Acquisition of intangible assets (54,230 ) (23,859 )
Investment in financial assets at fair value through profit or loss – non-current (1,500,000 )
Disposal (increase) in financial assets at amortized cost 2,699,420 (3,441 )
Decrease in guarantee deposits 40,942 28,879
Net cash flows from (used in) investing activities 948,239 (102,565 )
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from short-term borrowings 8,002,807 7,000,210
Repayments of short-term borrowings (10,270,816 ) (6,172,559 )
Repayments of long-term borrowings (500,531 ) (366,296 )
Principal repayment of lease liabilities (95,268 ) (45,981 )
Proceeds from preferred shares and private warrants 11,499,731 9,650,000
Net cash flows from financing activities 8,635,923 10,065,374
Effect of foreign exchange rate changes 190,312 (1,509,558 )
Net (decrease) increase in cash and cash equivalents (885,392 ) 4,712,941
Cash and cash equivalents at beginning of the period 21,699,202 5,306,857
Cash and cash equivalents at end of the period $ 20,813,810 $ 10,019,798

Reconciliation of Adjusted Operating Income and Adjusted Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) to Operating loss as per International Financial Reporting Standards (IFRS)

Three Months Ended
March 31
Items 2025
(Unaudited
and
Unreviewed)
2024
(Unaudited
and
Unreviewed)
(Amount in USD)
Operating loss (IFRS) $ (4,169,085 ) $ (11,425,588 )
Add: Exchange loss from currency devaluation 7,188,047 6,533,377
Add: Fair value remeasurement of financial instruments 1,838,049 8,037,430
Adjusted Operating income (Non-IFRS) $ 4,857,011 $ 3,145,219
Add: Depreciation expenses 153,083 134,665
Add: Amortization expenses 154,387 220,837
Adjusted EBITDA (Non-IFRS) $ 5,164,481 $ 3,500,721

Reconciliation of Adjusted Net Income (Non-IFRS) to IFRS Net loss

Three Months Ended
March 31
Items 2025
(Unaudited
and
Unreviewed)
2024
(Unaudited
and
Unreviewed)
(Amount in USD)
Net loss (IFRS) $ (4,558,307) $ (11,522,826 )
Add: Exchange loss from currency devaluation 7,188,047 6,533,377
Add: Fair value remeasurement of financial instruments 1,838,049 8,037,430
Adjusted Net income (Non-IFRS) $ 4,467,789 $ 3,047,981


About Gorilla Technology Group Inc.

Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies.

Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents.

For more information, please visit our website: Gorilla-Technology.com.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Gorilla’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding our beliefs about future revenues, our ability to attract the attention of customers and investors alike, Gorilla’s ability to win additional projects and execute definitive contracts related thereto, along with those other risks described under the heading “Risk Factors” in the Form 20-F Gorilla filed with the Securities and Exchange Commission (the “SEC”) on April 30, 2025 and those that are included in any of Gorilla’s future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Gorilla and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Gorilla undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

Investor Relations Contact:
Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
GRRR@redchip.com

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