28.8 C
Vientiane
Tuesday, September 9, 2025
spot_img
Home Blog Page 347

OCI Confirms Q3 2025 USD 700 Million Extraordinary Cash Distribution

AMSTERDAM, Aug. 4, 2025 /PRNewswire/ — OCI Global (Euronext: OCI), (“OCI,” the “Company”) announces today that it will pay a USD 700 million distribution (USD 3.31 per share) on 5 September 2025 through a mix of capital repayment and extraordinary cash dividend. This distribution is pursuant to the resolutions adopted at OCI’s annual general meeting on 21 May and will follow the lapsing of the mandatory creditor opposition period on 13 August. The ex-dividend date is 18 August, and the record date is 19 August.

Of the USD 700 million distribution, a proportion will be made as a repayment of capital corresponding to the amount of OCI’s remaining fiscal reserve, to be determined using the appropriate exchange rate on 3 September. Shareholders that do not wish to receive a capital repayment can elect to receive an extraordinary cash dividend from the profit reserve instead. Shareholders that do not make a choice will participate in a portion of their distribution paid as a repayment of capital. The Company will make distributions in USD unless the relevant shareholder has opted for a distribution in EUR. The EUR equivalent amount for those shareholders that elect for payment in EUR will be determined using the appropriate exchange rate on 3 September. The shareholder election period will run from 20 August through 2 September.

This press release contains information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

About OCI Global
Learn more about OCI at www.oci-global.com. You can also follow OCI on LinkedIn.

Akeso Announces Approval to Initiate Global Registrational Trial of Cadonilimab (PD-1/CTLA-4) for PD-1 Treatment-Resistant Hepatocellular Carcinoma

HONG KONG, Aug. 4, 2025 /PRNewswire/ — Akeso, Inc. (9926.HK) (“Akeso” or the “Company”) announced that its global, multicenter, randomized Phase II registrational trial (COMPASSION-36/AK104-225) has been approved to initiate by both China’s National Medical Products Administration (NMPA) and the U.S. Food and Drug Administration (FDA). The trial will evaluate cadonilimab, Akeso’s first-in-class PD-1/CTLA-4 bispecific antibody, in combination with lenvatinib versus lenvatinib alone for the treatment of advanced hepatocellular carcinoma (HCC) in patients previously treated with atezolizumab (a PD-L1 inhibitor) and bevacizumab. Akeso is now moving forward with the initiation of the study.

The COMPASSION-36/AK104-225 study is a key part of cadonilimab’s global development for hepatocellular carcinoma, continuing Akeso’s mission to advance cancer immunotherapy standards and to address the current limited survival benefits of single-target therapies.  This international, multicenter Phase II trial is designed to tackle the common issue of limited treatment options following resistance to immune checkpoint inhibitors (IO) in cancer therapy.

Currently, immune checkpoint inhibitor (IO) combination therapies have become the standard first-line treatment for various advanced malignancies. However, for patients worldwide whose disease progresses after IO combination therapy, there is a lack of effective second-line treatment options. The very limited second-line treatment options for advanced malignancies drives the critical need to explore new therapeutic strategies. Cadonilimab-based combination therapies have shown substantial potential in overcoming IO resistance across multiple tumor types.

Hepatocellular carcinoma (HCC) is one of the most prevalent malignancies worldwide, with approximately 865,000 new cases of liver cancer reported globally in 2022. The combination of atezolizumab and bevacizumab (A+T regimen) is the standard first-line therapy for advanced HCC, as recommended by the NCCN guidelines. However, for patients whose disease progresses after first-line A+T treatment, there is currently no FDA-approved second-line therapy available in the U.S., and also no approved treatment options from the NMPA in China. This creates a significant unmet need in the clinical management of these patients.

Cadonilimab is the first bispecific antibody for cancer immunotherapy to be approved globally and also the first bispecific antibody to be approved in China. The potential of cadonilimab for the treatment of HCC has been validated in multiple studies:

  • At the 2023 European Society for Medical Oncology Asia Congress (ESMO Asia), a study was presented demonstrating that cadonilimab, combined with FOLFOX-HAIC as neoadjuvant therapy, achieved a 100% disease control rate (DCR) in patients with resectable multinodular HCC, with an acceptable safety profile.
  • Additionally, data presented at the 2023 European Society for Medical Oncology (ESMO) Congress revealed that the combination of cadonilimab and lenvatinib as first-line treatment for advanced HCC shows superior antitumor activity compared to currently approved therapies for advanced HCC.

Akeso’s exploration of combination therapies with cadonilimab in the treatment of HCC offers a broad and effective approach to disease management. These combinations address both early and advanced stages of HCC and provide promising therapeutic options for a wide range of patients:

  • In addition to the international multicenter Phase II registrational study COMPASSION-36, patient enrollment for the Phase III clinical trial of cadonilimab as adjuvant therapy for high-risk recurrence following curative surgery for HCC has been completed.
  • Furthermore, a Phase III registrational study of cadonilimab combined with lenvatinib and transarterial chemoembolization (TACE) for the treatment of intermediate to advanced unresectable HCC is currently ongoing.
  • Additionally, multiple Phase II studies investigating cadonilimab in combination with pulocimab (VEGFR-2), ivonescimab (PD-1/VEGF), and other therapies are currently underway for PD-1/L1 inhibitor-resistant non-small cell lung cancer (NSCLC), HCC, and other malignancies. These studies demonstrate cadonilimab’s potential in treating IO-resistant tumors.

Dr. Yu Xia, Founder, Chairwoman, President, and CEO of Akeso, remarked, “We are excited to initiate cadonilimab’s first international multicenter registrational trial, a pivotal step in addressing the global challenge of cancer immunotherapy resistance. This study represents a key milestone in Akeso’s global strategy to address the substantial clinical unmet needs in oncology. Akeso is advancing the clinical development of its innovative pipeline, including ivonescimab, cadonilimab, ligufalimab (CD47), and AK146D1 (Trop2/Nectin4 bispecific ADC) through both in-house initiatives and strategic global collaborations. Our goal is to provide accessible and impactful survival benefits to patients worldwide, and to position Akeso at the forefront of oncology innovation.”

Forward-Looking Statement of Akeso, Inc.

This announcement by Akeso, Inc. (9926.HK, “Akeso”) contains “forward-looking statements”. These statements reflect the current beliefs and expectations of Akeso’s management and are subject to significant risks and uncertainties. These statements are not intended to form the basis of any investment decision or any decision to purchase securities of Akeso. There can be no assurance that the drug candidate(s) indicated in this announcement or Akeso’s other pipeline candidates will obtain the required regulatory approvals or achieve commercial success. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.

Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation in P.R.China, the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; Akeso’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the Akeso’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.

Akeso does not undertake any obligation to publicly revise these forward-looking statements to reflect events or circumstances after the date hereof, except as required by law.

About Akeso

Akeso (HKEX: 9926.HK) is a leading biopharmaceutical company committed to the research, development, manufacturing and commercialization of the world’s first or best-in-class innovative biological medicines. Founded in 2012, the company has created a unique integrated R&D innovation system with the comprehensive end-to-end drug development platform (ACE Platform) and bi-specific antibody drug development technology (Tetrabody) as the core, a GMP-compliant manufacturing system and a commercialization system with an advanced operation mode, and has gradually developed into a globally competitive biopharmaceutical company focused on innovative solutions. With fully integrated multi-functional platform, Akeso is internally working on a robust pipeline of over 50 innovative assets in the fields of cancer, autoimmune disease, inflammation, metabolic disease and other major diseases. Among them, 24 candidates have entered clinical trials (including 15 bispecific/multispecific antibodies and bispecific ADCs. Additionally, 7 new drugs are commercially available, and 2 new drugs with 2 new indications are under regulatory review for approval. Through efficient and breakthrough R&D innovation, Akeso always integrates superior global resources, develops the first-in-class and best-in-class new drugs, provides affordable therapeutic antibodies for patients worldwide, and continuously creates more commercial and social values to become a global leading biopharmaceutical enterprise.

For more information, please visit https://www.akesobio.com/en/about-us/corporate-profile/ and follow us on Linkedin.

Men in the UAE quicker to address tech troubles than a mental health concern, new AXA Global Healthcare study finds


DUBAI, UAE – Media OutReach Newswire – 4 August 2025 – Men in the UAE are more likely to take immediate action over a broken laptop, a social media hack, or a car warning light than seek support for ongoing low mood or mental health concerns, according to new research from AXA Global Healthcare.

The study, which explores how men approach preventative health, paints a concerning picture of low urgency around mental wellbeing. While 89% of UAE men said they would act within a week if they lost their bank card, just 56% would seek advice in the same timeframe if they experienced persistent low mood or a lack of motivation – known as early indicators of a deeper mental health issue.

The data suggests a pattern in how men prioritise their responsibilities, with external and practical issues often outweighing personal health. Most men said they would take swift action if they noticed an unexpected dip in their bank balance or discovered a leak at home, with both scenarios prompting urgency from almost 90% of respondents. Conversely, fewer than six in ten would act as quickly on a potential physical or emotional health concern.

Other issues also ranked ahead of wellbeing. Eighty-four percent said they would respond to a vehicle warning light within a week, while 80% would act quickly to care for a sick pet. A broken laptop would prompt action from 79% of men, and 86% would respond quickly if their social media account were hacked.

Karim Idilby, Chief Growth Officer for AXA Global Healthcare, says:

“It’s clear that for many men in the UAE, technology, finances and practical matters seem to be prioritised before their physical and emotional health. We urgently need to normalise a more proactive approach to wellbeing – not just wait for something to go wrong.”

The study echoes global findings that men tend to under-prioritise their own health, particularly when symptoms are unclear or linked to emotional stress. Yet there are signs that digital tools may help shift this behaviour. Over two thirds (70%) of men in UAE said they would feel more confident taking action if a wearable device, health app or tracker flagged something unusual suggesting a clear opportunity for earlier intervention through technology.

To support this shift, AXA Global Healthcare, in partnership with its local partner Daman, offers two preventative tools for its UAE based members that can be used anytime, anywhere:

  • Virtual Care Services, providing unlimited access to qualified doctors via phone or video. Members can speak to a healthcare professional quickly and confidentially about physical or mental health concerns, without needing to visit a clinic – making it easier to act early, from anywhere in the world. For the Mind Health service, members can speak with a team of locally Dubai Health Authority licensed Psychologists for up to six sessions per medical condition.
  • The Mind Health self-check, an online tool open to everyone (not just customers) that allows users to assess their emotional wellbeing through a short series of questions such as “Have you been feeling low lately?” or “Are you finding it hard to stay motivated?” Based on their responses, users receive guidance on whether further support could be helpful -encouraging action before symptoms worsen.

Idilby continues: “Preventative health shouldn’t feel like an afterthought. Just as you’d regularly check your car or technology to keep things running smoothly, building habits around your health can lead to better outcomes and greater peace of mind. For UAE residents who travel frequently for business or may relocate internationally, having quick, easy access to trusted healthcare – wherever you are in the world – can make all the difference.”

Hashtag: #AXA


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

SOHU.COM REPORTS SECOND QUARTER 2025 UNAUDITED FINANCIAL RESULTS

BEIJING, Aug. 4, 2025 /PRNewswire/ — Sohu.com Limited (NASDAQ: SOHU) (“Sohu” or the “Company”), a leading Chinese online media platform and game business group, today reported unaudited financial results for the second quarter ended June 30, 2025.

Second Quarter Highlights

  • Total revenues were US$126 million, down 27% year-over-year and 7% quarter-over-quarter.
  • Marketing services revenues were US$16 million, down 21% year-over-year and up 14% quarter-over-quarter.
  • Online game revenues were US$106 million, down 28% year-over-year and 10% quarter-over-quarter.
  • GAAP net loss attributable to Sohu.com Limited was US$20 million, compared with a net loss of US$38 million in the second quarter of 2024 and net income[1] of US$182 million in the first quarter of 2025.
  • Non-GAAP[2] net loss attributable to Sohu.com Limited was US$20 million, compared with a net loss of US$34 million in the second quarter of 2024 and a net loss of US$16 million in the first quarter of 2025.

Dr. Charles Zhang, Chairman and CEO of Sohu.com Limited, commented, “In the second quarter of 2025, our marketing services revenues were in line with our expectations while our online game revenues and bottom-line performance hit the high end of our guidance. For the Sohu media platform, we continued to focus on refining products, enhancing the operation of our social networks, and improving synergies across our product matrix. During the quarter, we hosted differentiated events that not only attracted numerous participants with shared interests, but also encouraged them to build social connections and interact vibrantly with each other on our platform. With these efforts, we were able to increase user engagement, further consolidate our brand influence, and capture more monetization opportunities. Our online games delivered solid results, underpinned by our dedication to serving users’ needs through compelling new content and continual optimization of our games.”

[1] In the first quarter of 2025, due to the expiration during the quarter of the statutory period for the U.S. Internal Revenue Service to conduct an examination of the Company’s filing in connection with a one-time transition tax (the “Toll Charge”) imposed by the U.S. Tax Cuts and Jobs Act, the Company fully reversed a tax expense that it had recognized as an uncertain tax position in the fourth quarter of 2018 upon the Company’s re-evaluation and adjustment of a tax expense initially recognized in the fourth quarter of 2017 with respect to the Toll Charge. This reversal resulted in recognition during the first quarter of 2025 of a previously unrecognized income tax benefit and reversal of related accrued interest in a total amount of approximately $199 million.

[2] Non-GAAP results exclude share-based compensation expense; changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments; and the income tax benefit in connection with the Toll Charge and related accrued interest expense. Explanation of the Company’s non-GAAP financial measures and related reconciliations to GAAP financial measures are included in the accompanying “Non-GAAP Disclosure” and “Reconciliations of Non-GAAP Results of Operation Measures to the Nearest Comparable GAAP Measures.”

Second Quarter Financial Results 

Revenues

Total revenues were US$126 million, down 27% year-over-year and 7% quarter-over-quarter.

Marketing services revenues were US$16 million, down 21% year-over-year and up 14% quarter-over-quarter.

Online game revenues were US$106 million, down 28% year-over-year and 10% quarter-over-quarter.

Gross Margin

Both GAAP and non-GAAP gross margin were 78%, compared with 67% in the second quarter of 2024 and 76% in the first quarter of 2025.

Both GAAP and non-GAAP gross margin for the marketing services business were 17%, compared with 20% in the second quarter of 2024 and 10% in the first quarter of 2025.

Both GAAP and non-GAAP gross margin for online games were 86%, compared with 76% in the second quarter of 2024 and 85% in the first quarter of 2025.

Operating Expenses

Both GAAP and non-GAAP operating expenses were US$120 million, down 25% year-over-year and 1% quarter-over-quarter.

Operating Loss

GAAP operating loss was US$22 million, compared with an operating loss of US$44 million in the second quarter of 2024 and an operating loss of US$19 million in the first quarter of 2025.

Non-GAAP operating loss was US$22 million, compared with an operating loss of US$45 million in the second quarter of 2024 and an operating loss of US$19 million in the first quarter of 2025.

Income Tax Expense/(Benefit)

GAAP income tax expense was US$9 million, compared with income tax expense of US$9 million in the second quarter of 2024 and income tax benefit of US$189 million in the first quarter of 2025. In the first quarter of 2025, the Company reversed a tax expense that it had recognized as an uncertain tax position in previous years, and related accrued interest expense, in a total amount of approximately $199 million.

Non-GAAP income tax expense was US$9 million, compared with income tax expense of US$5 million in the second quarter of 2024 and income tax expense of US$10 million in the first quarter of 2025.

Net Income/(Loss)

GAAP net loss attributable to Sohu.com Limited was US$20 million, or a net loss of US$0.69 per fully-diluted American depositary share (“ADS,” each ADS representing one Sohu ordinary share), compared with a net loss of US$38 million in the second quarter of 2024 and net income of US$182 million in the first quarter of 2025.

Non-GAAP net loss attributable to Sohu.com Limited was US$20 million, or a net loss of US$0.68 per fully-diluted ADS, compared with a net loss of US$34 million in the second quarter of 2024 and a net loss of US$16 million in the first quarter of 2025.

Liquidity and Capital Resources

As of June 30, 2025, cash and cash equivalents, short-term investments and long-term time deposits totaled approximately US$1.2 billion.

Supplementary Information for Changyou Results[3]

Second Quarter 2025 Operating Results

  • For PC games, total average monthly active user accounts[4] (MAU) were 2.3 million, an increase of 6% year-over-year and flat quarter-over-quarter. Total quarterly aggregate active paying accounts[5] (APA) were 0.9 million, an increase of 8% year-over-year and a decrease of 3% quarter-over-quarter. The year-over-year increases in MAU and APA were mainly due to the improved performance of some of our older games, including Tian Long Ba Bu (“TLBB”) PC, resulting from content updates and optimization launched during recent quarters.
  • For mobile games, total average MAU were 1.9 million, a decrease of 60% year-over-year and 9% quarter-over-quarter. Total quarterly APA were 0.3 million, a decrease of 72% year-over-year and 9% quarter-over-quarter. The year-over-year decreases in MAU and APA were mainly due to the natural decline of New Westward Journey, which was launched in the Chinese mainland market during the second quarter of 2024. The quarter-over-quarter decreases were mainly due to the natural decline of Journey Renewed: Fate Fantasy, the international version of New Westward Journey, which was launched during the fourth quarter of 2024.

[3] “Changyou Results” consist of the results of Changyou’s online games business and its 17173.com Website.

[4] Monthly active user accounts refers to the number of registered accounts that are logged in to these games at least once during the month.

[5] Quarterly aggregate active paying accounts refers to the number of accounts from which game points are utilized at least once during the quarter.

Second Quarter 2025 Unaudited Financial Results

Total revenues were US$107 million, a decrease of 28% year-over-year and 10% quarter-over-quarter. Online game revenues were US$106 million, a decrease of 28% year-over-year and 10% quarter-over-quarter.

Both GAAP and non-GAAP gross profit were US$92 million, compared with US$112 million for the second quarter of 2024 and US$99 million for the first quarter of 2025.

GAAP operating expenses were US$42 million, a decrease of 48% year-over-year and 8% quarter-over-quarter. The year-over-year decrease was mainly due to a decrease in marketing and promotional spending for our online games.

Non-GAAP operating expenses were US$41 million, a decrease of 48% year-over-year and 8% quarter-over-quarter.

GAAP operating profit was US$50 million, compared with US$32 million for the second quarter of 2024 and US$54 million for the first quarter of 2025.

Non-GAAP operating profit was US$51 million, compared with US$32 million for the second quarter of 2024 and US$55 million for the first quarter of 2025.

Recent Development

Under the previously-announced share repurchase program of up to US$150 million of the outstanding ADSs, Sohu had repurchased 6.6 million ADSs for an aggregate cost of approximately US$83 million as of July 31, 2025.

Business Outlook

For the third quarter of 2025, Sohu estimates:

  • Marketing services revenues to be between US$14 million and US$15 million; this implies an annual decrease of 20% to 25%, and a sequential decrease of 4% to 10%.
  • Online game revenues to be between US$107 million and US$117 million; this implies an annual decrease of 8% to 16%, and a sequential increase of 1% to 10%. 
  • Both non-GAAP and GAAP net loss attributable to Sohu.com Limited to be between US$25 million and US$35 million.

For the third quarter 2025 guidance, the Company has adopted a presumed exchange rate of RMB7.15=US$1.00, as compared with the actual exchange rate of approximately RMB7.12=US$1.00 for the third quarter of 2024, and RMB7.19=US$1.00 for the second quarter of 2025.

This forecast reflects Sohu’s management’s current and preliminary view, which is subject to substantial uncertainty.

Non-GAAP Disclosure

To supplement the unaudited consolidated financial statements presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”), Sohu’s management uses non-GAAP measures of gross profit, operating profit/(loss), net income/(loss), net income/(loss) attributable to Sohu.com Limited and diluted net income/(loss) attributable to Sohu.com Limited per ADS, which are adjusted from results based on GAAP to exclude the impact of share-based compensation expense; changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments; and the income tax benefit in connection with the Toll Charge and related accrued interest expense. These measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results.

Sohu’s management believes excluding share-based compensation expense; changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments; and the income tax benefit in connection with the Toll Charge and related accrued interest expense from the Company’s non-GAAP financial measures is useful for itself and investors. Further, the impact of share-based compensation expense; changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments; and the income tax benefit in connection with the Toll Charge and related accrued interest expense could not be anticipated by management and business line leaders and these expenses were not built into the annual budgets and quarterly forecasts that have been the basis for information Sohu provides to analysts and investors as guidance for future operating performance. As share-based compensation expense, and changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments do not involve subsequent cash outflow or are reflected in the cash flows at the equity transaction level, Sohu does not factor in their impact when evaluating and approving expenditures or when determining the allocation of its resources to its business segments. As a result, in general, the monthly financial results for internal reporting and any performance measures for commissions and bonuses are based on non-GAAP financial measures that exclude share-based compensation expense and changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments, and also exclude the income tax benefit in connection with the Toll Charge and related accrued interest expense.

The non-GAAP financial measures are provided to enhance investors’ overall understanding of Sohu’s current financial performance and prospects for the future. A limitation of using non-GAAP gross profit, operating profit/(loss), net income/(loss), net income/(loss) attributable to Sohu.com Limited, and diluted net income/(loss) attributable to Sohu.com Limited per ADS excluding share-based compensation expense is that this expense has been and can be expected to continue to recur in Sohu’s business. It is also possible that changes in fair value recognized in the Company’s consolidated statements of operations with respect to the Company’s investments, will recur in the future. In order to mitigate these limitations Sohu has provided specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables include details on the reconciliation between the GAAP financial measures that are most directly comparable to the non-GAAP financial measures that have been presented.

Notes to Financial Information

Financial information in this press release other than the information indicated as being non-GAAP is derived from Sohu’s unaudited financial statements prepared in accordance with GAAP.

Safe Harbor Statement

This announcement contains forward-looking statements. It is currently expected that the Business Outlook will not be updated until release of Sohu’s next quarterly earnings announcement; however, Sohu reserves right to update its Business Outlook at any time for any reason. Statements that are not historical facts, including statements about Sohu’s beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, instability in global financial and credit markets and its potential impact on the Chinese economy; exchange rate fluctuations, including their potential impact on the Chinese economy and on Sohu’s reported U.S. dollar results; fluctuations in Sohu’s quarterly operating results; the possibilities that Sohu will be unable to recoup its investment in content and will be unable to develop a series of successful games for mobile platforms or successfully monetize mobile games it develops or acquires; and Sohu’s reliance on marketing services and online games for its revenues. Further information regarding these and other risks is included in Sohu’s annual report on Form 20-F for the year ended December 31, 2024, and other filings with and information furnished to the SEC.

Conference Call and Webcast 

Sohu’s management team will host a conference call at 7:30 a.m. U.S. Eastern Time, August 4, 2025 (7:30 p.m. Beijing/Hong Kong time, August 4, 2025) following the quarterly results announcement. Participants can register for the conference call by clicking here, which will lead them to the conference registration website. Upon registration, participants will receive details for the conference call, including the dial-in numbers and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin.

The live Webcast and archive of the conference call will be available on the Investor Relations section of Sohu’s website at https://investors.sohu.com/.

About Sohu

Sohu.com Limited (NASDAQ: SOHU) was established by Dr. Charles Zhang, one of China’s internet pioneers, in the 1990s. Sohu operates one of the leading Chinese online media platforms and also engages in the online games business in the Chinese mainland. Sohu has built one of the most comprehensive matrices of Chinese language web properties, consisting of Sohu News App, Sohu Video App, the mobile portal m.sohu.com, the PC portal www.sohu.com, and the online games platform www.changyou.com/en/.

As a mainstream media platform with social features, Sohu is indispensable to the daily life of millions of Chinese, providing to a vast number of users a network of web properties and community based products, which offer a broad array of content such as news, information, text, picture, video, and live broadcasting. Sohu also attracts users to be highly engaged in content generation and distribution, and actively interact with each other on the platform. Sohu’s online games business is conducted by its subsidiary Changyou which develops and operates a diverse portfolio of PC and mobile games, such as the well-known TLBB PC and Legacy TLBB Mobile.

For investor and media inquiries, please contact:

In China:

Ms. Pu Huang
Sohu.com Limited
Tel: +86 (10) 6272-6645
E-mail: ir@contact.sohu.com

In the United States:

Ms. Linda Bergkamp
Christensen
Tel: +1 (480) 614-3004
E-mail: linda.bergkamp@christensencomms.com

 

SOHU.COM LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)

Three Months Ended

Jun. 30, 2025

Mar. 31, 2025

Jun. 30, 2024

Revenues:

    Marketing services

$

15,624

$

13,725

$

19,853

    Online games

105,994

117,347

146,997

    Others

4,649

4,573

5,483

Total revenues

126,267

135,645

172,333

Cost of revenues:

Marketing services (includes share-based
compensation expense of nil, nil, and $1,
respectively) 

12,979

12,341

15,904

Online games

14,544

18,136

35,588

Others 

768

2,669

4,974

Total cost of revenues

28,291

33,146

56,466

Gross profit

97,976

102,499

115,867

Operating expenses:

Product development (includes share-based
compensation expense of nil, nil, and $10,
respectively) 

58,824

62,972

65,209

Sales and marketing (includes share-based
compensation expense of $1, $1, and $10,
respectively) 

48,545

45,586

83,936

General and administrative (includes share-based
compensation expense of $352, $391, and $-421,
respectively)

12,922

12,969

11,012

Total operating expenses

120,291

121,527

160,157

Operating loss

(22,315)

(19,028)

(44,290)

Other income, net

3,481

4,199

5,572

Interest income

7,570

7,708

9,561

Exchange difference

185

(119)

231

Loss before income tax expense

(11,079)

(7,240)

(28,926)

Income tax expense/(benefit)[6]

8,937

(189,391)

8,731

Net income/(loss)

(20,016)

182,151

(37,657)

Less: Net loss attributable to the noncontrolling
interest shareholders

(9)

Net income/(loss) attributable to Sohu.com Limited

(20,016)

182,160

(37,657)

Basic net income/(loss) per share/ADS attributable to
Sohu.com Limited

$

(0.69)

$

6.07

$

(1.16)

Shares/ADSs used in computing basic net
income/(loss) per share/ADS attributable to Sohu.com
Limited[7]

28,826

30,008

32,492

Diluted net income/(loss) per share/ADS attributable to
Sohu.com Limited

$

(0.69)

$

6.07

$

(1.16)

Shares/ADSs used in computing diluted net
income/(loss) per share/ADS attributable to Sohu.com
Limited

28,826

30,008

32,492

[6] See footnote 1.

[7] Each ADS represents one ordinary share.

 

SOHU.COM LIMITED

CONDENSED CONSOLIDATED BALANCE SHEETS 

(UNAUDITED, IN THOUSANDS)

As of Jun. 30, 2025

As of Dec. 31, 2024

ASSETS

Current assets:

           Cash and cash equivalents

$

114,277

$

159,927

           Restricted cash

79

           Short-term investments

711,784

744,498

           Accounts receivable, net

43,443

53,762

           Prepaid and other current assets 

91,372

83,575

Total current assets

960,955

1,041,762

Fixed assets, net

247,829

252,860

Goodwill 

47,005

46,944

Long-term investments, net

43,496

43,120

Intangible assets, net

5,384

7,695

Long-term time deposits

361,810

331,290

Other assets

10,038

10,995

Total assets

$

1,676,517

$

1,734,666

LIABILITIES 

Current liabilities:

           Accounts payable 

$

35,649

$

36,043

           Accrued liabilities

92,657

97,138

           Receipts in advance and deferred revenue

54,739

51,007

           Accrued salary and benefits

42,269

47,232

           Taxes payables

11,604

14,225

           Other short-term liabilities

78,485

76,322

   Total current liabilities

$

315,403

$

321,967

Long-term other payables

2,870

2,807

Long-term tax liabilities

295,381

485,545

Other long-term liabilities

778

1,659

Total long-term liabilities

$

299,029

$

490,011

                            Total liabilities

$

614,432

$

811,978

SHAREHOLDERS’ EQUITY:

          Sohu.com Limited shareholders’ equity

1,061,741

922,335

          Noncontrolling interest

344

353

                     Total shareholders’ equity

$

1,062,085

$

922,688

Total liabilities and shareholders’ equity  

$

1,676,517

$

1,734,666

 

SOHU.COM LIMITED

RECONCILIATIONS OF NON-GAAP RESULTS OF OPERATIONS MEASURES TO THE NEAREST COMPARABLE GAAP MEASURES

(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)

Three Months Ended Jun. 30, 2025

Three Months Ended Mar. 31, 2025

Three Months Ended Jun. 30, 2024

GAAP

Non-GAAP
Adjustment

Non-
GAAP

GAAP

Non-GAAP
Adjustment

Non-
GAAP

GAAP

Non-GAAP
Adjustment

Non-
GAAP

(a)

(a)

1

(a)

Marketing services gross profit

$

2,645

$

$

2,645

$

1,384

$

$

1,384

$

3,949

$

1

$

3,950

Marketing services gross margin

17 %

17 %

10 %

10 %

20 %

20 %

(a)

(a)

(a)

Online games gross profit 

$

91,450

$

$

91,450

$

99,211

$

$

99,211

$

111,409

$

$

111,409

Online games gross margin

86 %

86 %

85 %

85 %

76 %

76 %

(a)

(a)

(a)

Others gross profit 

$

3,881

$

$

3,881

$

1,904

$

$

1,904

$

509

$

$

509

Others gross margin

83 %

83 %

42 %

42 %

9 %

9 %

(a)

(a)

1

(a)

Gross profit

$

97,976

$

$

97,976

$

102,499

$

$

102,499

$

115,867

$

1

$

115,868

Gross margin

78 %

78 %

76 %

76 %

67 %

67 %

Operating expenses

$

120,291

$

(353)

(a) $

119,938

$

121,527

$

(392)

(a) $

121,135

$

160,157

$

401

(a) $

160,558

353

(a)

392

(a)

(400)

(a)

Operating loss

$

(22,315)

$

353

$

(21,962)

$

(19,028)

$

392

$

(18,636)

$

(44,290)

$

(400)

$

(44,690)

Operating margin

-18 %

-17 %

-14 %

-14 %

-26 %

-26 %

Income tax expense/(benefit)

$

8,937

$

(c)$

8,937

$

(189,391)

$

199,018

(c)$

9,627

$

8,731

$

(3,764)

(c)$

4,967

353

(a)

392

(a)

(400)

(a)

131

(b)

(199,018)

(c)

3,764

(c)

Net income/(loss) before non-
controlling interest

$

(20,016)

$

353

$

(19,663)

$

182,151

$

(198,626)

$

(16,475)

$

(37,657)

$

3,495

$

(34,162)

353

(a)

392

(a)

(400)

(a)

131

(b)

(199,018)

(c)

3,764

(c)

Net income/( loss) attributable to
Sohu.com Limited for diluted net loss
per share/ADS

$

(20,016)

$

353

$

(19,663)

$

182,160

$

(198,626)

$

(16,466)

$

(37,657)

$

3,495

$

(34,162)

Diluted net income/( loss) per
share/ADS attributable to Sohu.com
Limited

$

(0.69)

(0.68)

$

6.07

(0.55)

$

(1.16)

(1.05)

Shares/ADSs used in computing
diluted net income/( loss) per
share/ADS attributable to Sohu.com
Limited

28,826

28,826

30,008

30,008

32,492

32,492

Note:

(a) Share-based compensation expense

(b) Change in the fair value of the Company’s investments

(c) Reversal of the tax expense in connection with the Toll Charge and related accrued interest expense

.

Atradius survey reveals cautious optimism among UAE businesses despite rising bad debts and increased geopolitical uncertainty


DUBAI, UAE – Media OutReach Newswire – 4 August 2025 – The latest Atradius Payment Practices Barometer survey for the United Arab Emirates (UAE) reveals a divided B2B payment landscape, with companies facing increasing financial pressure as bad debts grow to an average rate of 8% of overdue invoices amid a tightening in liquidity conditions, and points to a rise in debt collection challenges across the market.

The comprehensive survey, conducted during the second half of Q2 2025, shows that while 43% of businesses report no recent change in how B2B customers pay, the remaining companies are almost evenly split between those experiencing quicker payments and those facing delays. Half of all B2B sales in the UAE are made on credit, with payment terms averaging 47 days. Worryingly, 58% of these credit-based sales are paid late, primarily due to administrative bottlenecks or financial distress within customer organisations. This trend is directly squeezing working capital and forcing companies to re-evaluate their risk management strategies.

“The findings highlight a dual reality in the UAE market,” said Roeland Punt, Regional Director for Atradius in the Middle East. “While some businesses continue to experience stable payment behaviour, others are facing growing financial strain. The increase in bad debts and overdue invoices is a clear signal that companies need to reinforce their credit risk frameworks. Many are already responding by diversifying their risk management strategies, combining internal controls with external tools such as trade credit insurance. This adaptability is a positive sign amid ongoing economic uncertainty.

Diversity in risk management strategies

Companies are adopting diverse approaches to manage B2B customer payment risks, with 42% favouring a combination of internal provisioning and outsourced credit insurance with the rest choosing a single method. Inventory management practices are also found to be mixed with some companies experiencing stock build-ups that could impact working capital and liquidity. Trade credit remains the primary source of financing at 58%, followed by bank loans at 52% and internal funds at 49%.

The respondents’ financial challenges are further reflected in supplier payment trends, where some companies maintain regular payment schedules while others delay payments to suppliers to ease their own liquidity constraints.

Industry-specific insights

Pharmaceuticals: Around 50% of B2B sales are on credit, with average payment terms of nearly 50 days. Overdue payments affect 60% of invoices, and 61% of companies expect an increase in customer insolvencies. Along with late payments and bad debt, companies in the sector also listed balancing customer terms with financial health protection as one of the main challenges in offering credit to customers.

Steel and Metals: Credit-based sales account for 60% of transactions, with 55% of invoices overdue. Despite this, 69% of companies do not anticipate a rise in insolvencies.

FMCG: The industry demonstrates a more careful approach, with just over 50% of B2B sales conducted on credit and shorter payment terms of around 40 days. However, 56% of companies anticipate rising customer insolvencies, reflecting heightened concerns regarding late payments in this sector.

Cautious optimism despite challenges

Looking ahead, companies remain divided on insolvency projections, with 50% expecting customer insolvencies to increase while the rest foresee no change. Businesses also maintain strong sales and profitability outlooks, though concerns persist around geopolitical developments and their impact on trade patterns and supply chains, ongoing regulatory changes and the growing focus on environmental considerations.

Overall, the survey’s findings underscore the importance of being nimble and adaptable in the face of challenges and having a well-honed credit risk management strategy, as UAE businesses navigate an increasingly complex economic environment in one of the world’s leading regional trade and business hubs.

Download the full report here.
Hashtag: #PaymentPracticesBarometer #B2BPayments #CreditRisk


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

Atradius

Atradius is a global provider of credit insurance, bond and surety, collections and information services, with a strategic presence in over 50 countries. The products offered by Atradius protect companies around the world against the default risks associated with selling goods and services on credit. Atradius is a member of GCO, one of the leading companies in the Spanish insurance sector and one of the largest credit insurers in the world. You can find more information online at

Laos Steps Up Support for Flood-Hit Provinces

Laos Steps Up Support for Flood-Hit Provinces
On 3 August, Vice President Pany Yathotou visited Hat Bo village in Nohet district, Xieng Khouang Province, to deliver essential supplies to families impacted by the floods. (Photo credit: Vientiane Mai)

Lao authorities are stepping up efforts to help residents affected by recent floods, as damage reports continue to come in from several provinces.

Khammouane Flooding Leaves One Dead, LAK 108 Billion in Damages

Flood in Hinboun district on 30 July 2025. (Photo: Khammouane News)

Severe flooding in Khammouane Province, triggered by heavy rains and worsened by Tropical Storm Wipha, has left one child dead and caused over LAK 108 billion (USD 5 million) in damages, as rivers overflowed and flash floods submerged homes, farms, and roads.

Kind Malaysia 2025: Where Kindness Unites Humanity — Just One Week to Go

KUALA LUMPUR, Malaysia, Aug. 4, 2025 /PRNewswire/ — The countdown has begun. With just one week to go, Kind Malaysia 2025 returns for its 4th powerful edition, once again championing kindness as a unifying force for social change. Since its inception in 2018, Kind Malaysia has stood as a platform dedicated to bridging the gap between corporations, NGOs, social enterprises and individuals, inspiring collective action and lasting impact.

Kind Malaysia 2025: Where Kindness Unites Humanity — Just One Week to Go
Kind Malaysia 2025: Where Kindness Unites Humanity — Just One Week to Go

This year, Kind Malaysia takes a transformative leap forward, co-locating for the first time with EventXpo, Malaysia’s premier business events marketplace. This landmark partnership connects corporate responsibility with economic resilience, amplifying both platforms under the shared vision that “Kindness Unites Humanity” and “Business Events Build Nations.”

The synergy between the two events is expected to draw unprecedented participation from the business events community, NGOs, CSR leaders, and members of the public, making Kind Malaysia 2025 the most dynamic and impactful edition yet.

“Kind Malaysia is a unique platform with a powerful purpose; to unite corporations, NGOs and individuals in the spirit of giving. As Chairman, I believe that kindness must be a central pillar in the development of our society. In today’s world, where challenges grow more complex, collaboration and compassion must guide the way forward. Kind Malaysia offers that space, where business meets benevolence, and where impact begins with intention.” said Tan Sri Asmat Kamaludin, Chairman of Kind Malaysia.

“Kind Malaysia was founded on a powerful belief that when corporations and communities come together, meaningful and lasting change can happen. Our co-location with EventXpo this year strengthens that mission by uniting purpose with platform, and proving that kindness, when embedded in business, becomes a force for nation-building. To our corporate leaders, I urge you to come forward, not just as observers, but as active changemakers. And to our NGOs, this is your moment to be seen, heard, and supported.” – Datuk Dr M Gandhi, Co-Founder of Kind Malaysia & President of MACEOS

What to Expect at Kind Malaysia 2025:

  • 27 participating NGOs across vital causes: Animal Welfare, Children’s Rights, Women’s Empowerment, Disabilities, Medical & Health, and Youth Development, among others.
  • On-site CSR activations, NGO showcases, real-time volunteer sign-ups, and direct engagement opportunities for corporates and the public.
  • Better World Corner: Bite-sized pocket talks by NGO leaders sharing raw, real stories of impact from the field.
  • Carbon Footprint Calculation: In partnership with ESG Malaysia, the event will adopt ESG best practices including carbon footprint measurement and reporting, ensuring sustainability remains at the core of our mission.

Driving Corporate Social Responsibility Forward

Kind Malaysia 2025 proudly welcomes a growing list of CSR and sustainability partners, including MACEOS, ESG Malaysia, Evenesis, Artisense, and Web Temple, each contributing expertise, technology and purpose-driven support. Together, we’re creating a platform where businesses give back, and communities move forward.

Whether you’re a company seeking meaningful CSR partnerships, an NGO championing a cause, or an individual with a heart to help, Kind Malaysia 2025 is your place to connect, contribute, and create real change.

Admission is free and open to all. Register now at https://form.evenesis.com/eventxpo2025/VISITOR  or visit www.mykindmalaysia.com

PR Newswire is the official news distribution partner of Kinds Malaysia 2025.