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The MIT-IBM Computing Research Lab Launches to Shape the Future of AI and Quantum Computing

Building on a long-standing MIT–IBM collaboration, the new lab will chart the convergence of AI, algorithms, and quantum computing

CAMBRIDGE, Mass., April 29, 2026 /PRNewswire/ — IBM (NYSE: IBM) and the Massachusetts Institute of Technology today announced the launch of the MIT-IBM Computing Research Lab, advancing their long-standing collaboration to shape the next era of computing. The new lab expands its scope to include quantum computing, alongside foundational artificial intelligence research, with the goal of unlocking new computational approaches that go beyond the limits of today’s classical systems.

Street‑level view of the MIT‑IBM Computing Research Lab in Cambridge, MA.
Street‑level view of the MIT‑IBM Computing Research Lab in Cambridge, MA.

The MIT-IBM Computing Research Lab builds on a distinguished history of scientific excellence at the intersection of research and academia. Evolving from the MIT-IBM Watson AI Lab, which originated in 2017 on MIT’s campus, the new lab reflects a transformed technology landscape—one in which AI has entered mainstream deployment, and quantum computing is rapidly advancing toward practical impact. Together, MIT and IBM aim to help lead research in AI and quantum and to redefine mathematical foundations across both domains.

“We expect the MIT-IBM Computing Research Lab to emerge as one of the world’s premier academic and industrial hubs accelerating the future of computing,” said Jay Gambetta, director of IBM Research and IBM Fellow, and IBM chair of the MIT-IBM Computing Research Lab. “Together, the brightest minds at MIT and IBM will rethink how models, algorithms, and systems are designed for an era that will be defined by the sum of what’s possible when AI and quantum computing come together.”

“For a decade, the collaboration between MIT and IBM has produced leading-edge research and innovation, provided mentorship and supported the professional growth of researchers both at MIT and IBM,” said Anantha Chandrakasan, MIT’s provost, who as then-dean of the School of Engineering spearheaded the creation of the MIT-IBM Watson AI Lab and will continue as MIT chair of the lab. “The incredible technical achievements set the bar high for our work together over the next 10 years. I look forward to another decade of impact.”

Addressing the next frontiers in computation

The MIT-IBM Computing Research Lab will serve as a focal point for joint research between MIT and IBM in AI, algorithms, and quantum computing, as well as the integration of these technologies into hybrid computing systems. The lab is designed to accelerate progress toward powerful new computational approaches that take advantage of rapid advances in AI and quantum-centric supercomputing, including those that combine maturing quantum hardware with classical systems and advanced AI methods.

This research initiative will include improving capabilities and integrating AI with traditional computing, alongside pursuing advances in small, efficient, modular language model architectures, novel AI computing paradigms, and enterprise-focused AI systems designed for deployment in real-world environments, where reliability, transparency, and trust are essential.

In parallel, the lab will rethink the mathematical and algorithmic foundations that underpin the next era of computing by accelerating the development of novel quantum algorithms for complex problems, with impacts in areas such as materials science, chemistry, and biology.

Additionally, the lab will investigate mathematical and algorithmic foundations of machine learning, optimization, Hamiltonian simulations, and partial differential equations, which are used to approximate the behaviors of dynamical systems that currently stump classical systems’ scale and accuracy. Innovations from the lab could have wide implications for global industries, from more accurate weather and air turbulence prediction to better forecasts of financial market performance. Similarly, with improved optimization approaches, research from the lab could help lower risks in areas like finance, predict protein structures for more targeted medicine, and streamline global supply chains.

With its focus on AI, algorithms, and quantum, the MIT-IBM Computing Research Lab will complement and enhance the work of two of MIT’s strategic initiatives, the MIT Generative AI Impact Consortium and the MIT Quantum Initiative. MIT President Sally Kornbluth launched the strategic initiatives to broaden and deepen MIT’s impact in developing solutions to serious global challenges. The MIT-IBM Computing Research Lab will also leverage IBM’s longtime leadership and expertise in quantum computing. As part of its ambitious roadmap, IBM has laid out a clear path to delivering the world’s first fault-tolerant quantum computer by 2029, and is working across industries to drive value from quantum-centric supercomputing, tightly integrating quantum computers with high-performance computing and AI accelerators to solve the world’s toughest problems.

Deep integration with scientific domains

The MIT-IBM Computing Research Lab will also continue to serve as a foundation for training the next generation of computational scientists and innovators. It will do so by engaging faculty and students across MIT departments, enabling new computational approaches to accelerate discoveries in the physical and life sciences.

The lab will continue to be co-directed by Aude Oliva, senior research scientist at MIT’s Computer Science and Artificial Intelligence Laboratory, and David Cox, vice president, AI Foundations at IBM Research. MIT and IBM have appointed leads for each of the lab’s three focus areas – AI, algorithms, and quantum. Jacob Andreas, associate professor in the Department of Electrical Engineering and Computer Science (EECS), and Kenney Ng, principal research scientist at IBM Research and the MIT-IBM science program manager, will co-lead AI; Vinod Vaikuntanathan, the Ford Foundation Professor of Engineering in EECS, and Vasileios Kalantzis, IBM Research senior research scientist, will co-lead algorithms; and Aram Harrow, professor of physics, and Hanhee Paik, IBM director of Quantum Algorithm Centers, will co-lead quantum.

“The MIT-IBM Computing Research Lab reflects an important expansion of the collaboration between MIT and IBM and the increasing connections across AI, algorithms and quantum. This deepened focus also underscores a strong alignment with the MIT Schwarzman College of Computing’s mission to advance the forefront of computing and its integration across disciplines,” said Dan Huttenlocher, dean of the MIT Schwarzman College of Computing and MIT co-chair of the lab. “I’m excited about what this next chapter will enable in these three areas and their impact broadly.”

Building on nearly a decade of collaboration

The MIT-IBM Watson AI Lab helped pioneer a model for academic-industry research collaboration, aligning long-term scientific inquiry with real world impact. Since its inception, the lab has funded over 210 research projects involving over 150 MIT faculty members and over 200 IBM researchers. Collectively the projects have led to over 1,500 peer-reviewed articles. The lab also helped shape the career growth of a number of MIT students and junior researchers, funding more than 500 students and postdoctoral scholars.

“The true measure of this lab is not just innovation, but transformation of a field. Hundreds of students have contributed to thousands of publications in top conferences and journals, demonstrating their capabilities to address meaningful problems,” said Oliva. “The MIT-IBM Computing Research Lab builds on an extraordinary legacy of impact to advance a trusted collaboration that will redefine the future of AI and quantum computing in a way never seen before.”

“By coupling academic rigor with industrial scale, the lab aims to define the computational foundations that will power the next generation of AI, quantum, and scientific breakthroughs,” said Cox. “By bringing together advances in AI, algorithms, and quantum computing under one integrated research effort, we’re creating the conditions to rethink the mathematical and computational foundations of science and engineering.”

The MIT-IBM Computing Research Lab will capitalize on this foundation, expanding both the scientific scope and the ecosystem of collaborators across the Cambridge-Boston region and beyond.

About the MIT Schwarzman College of Computing

The MIT Schwarzman College of Computing addresses the opportunities and challenges for the computing age—from hardware and software to algorithms and artificial intelligence. Launched in 2020, the college advances the frontiers of computer science, AI, and other forefront areas of computing, infuses these fields across disciplines at MIT, and leads efforts to tackle the social, ethical, and policy dimensions of a rapidly evolving digital world. Visit computing.mit.edu for more information.

About IBM

IBM is a leading global hybrid cloud and AI, and business services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

For more information, visit https://research.ibm.com.

Media Contacts

Brittany Forgione
IBM Research Communications
Brittany.Forgione@ibm.com

Ashley Peterson
IBM Research Communications
ashley.peterson@ibm.com 

IBM Corporation logo.
IBM Corporation logo.

LTS Expands CDMO Portfolio with Ophthalmic Drug Delivery Solutions

ANDERNACH, Germany, April 29, 2026 /PRNewswire/ — LTS LOHMANN Therapie-Systeme AG (“LTS”), a leading pharmaceutical technology company specializing in advanced drug delivery systems, today announced the expansion of its service portfolio to include CDMO services for ophthalmic drug delivery solutions, with manufacturing capacities located in the United States at LTS’ Lakewood, New Jersey facility.

The new offering focuses initially on product development through clinical manufacturing of sterile ophthalmic products, filled in preservative–free multidose devices. Leveraging its established commercial aseptic manufacturing capabilities in nasal sprays and vials, LTS is well positioned to meet the high quality and regulatory demands of ophthalmic treatments, including products for chronic and acute eye conditions.

Building on decades of experience in drug delivery technologies, LTS ultimately plans to offer end–to–end CDMO services for ophthalmic drug products, ranging from formulation development through commercial manufacturing. All activities will be conducted in compliance with global regulatory standards, supporting both U.S. and international market requirements.

“Ophthalmic drug delivery presents unique challenges in terms of sterility, efficacy, and patient safety,” said Bas van Buijtenen, CEO at LTS. “Our aseptic manufacturing capabilities in Lakewood, are the perfect foundation to build industry-leading CDMO capabilities and capacity for ophthalmics, powering the future of drug delivery in this field in North America. We look forward to extending our purpose – We CARE. We CREATE. We DELIVER -towards an even wider group of customers, therapies and patients.”

The expanded CDMO services are intended to support pharmaceutical and biotech companies seeking a reliable U.S.-based manufacturing partner for ophthalmic drug delivery solutions. By combining development expertise, sterile manufacturing infrastructure, and a strong quality culture, LTS aims to act as a long–term partner across the entire product lifecycle.

This portfolio expansion reflects LTS’s strategic commitment to continuously broaden its technology and service offerings and to address growing demand for specialized drug delivery solutions in sensitive therapeutic areas.

About LTS Lohmann Therapie-Systeme AG
At LTS, our purpose drives everything we do: We CARE for patients, our partners, employees and communities, we CREATE innovative drug delivery solutions, and we DELIVER high-quality products to global markets with an exceptional track record in commercial manufacturing. As a global CDMO, we offer end-to-end development and manufacturing services for pharmaceutical and biotech companies.

Our technology portfolio spans transdermal patches, oral thin films, nasal and sterile drug delivery products, wearable drug delivery devices as well as microneedle array patches. With over 40 commercial products and 50+ active development programs, we combine deep expertise with patient-centric innovation to advance small molecules, biologics, and vaccines.
Operating from five global sites in the US, Germany and Israel and a representative office in China, LTS powers the future of drug delivery.

For further information, please contact:

LTS Lohmann Therapie-Systeme AG
Dr Iris Schnitzler: iris.schnitzler@ltslohmann.com
+492632-992589

ESG | HitGen Releases 2025 Sustainability Report

CHENGDU, China, April 29, 2026 /PRNewswire/ — Shanghai Stock Exchange listed company HitGen Inc. (“HitGen”, SSE: 688222.SH) released its 2025 Sustainability Report on April 29, 2026. This report is the second sustainability report of HitGen, aiming to present the Company’s philosophies and policies in environmental, social, and governance (“ESG”) areas, as well as its sustainable development practices and performance in the year of 2025, to systematically respond to stakeholder concerns.

Dr. Jin Li, Chairman of the Board and CEO of HitGen Inc., commented: “As an innovative biopharmaceutical enterprise committed to ‘contributing to human health’, HitGen has always believed that the core of a company lies in continuously creating value. In 2025, we remained dedicated to practical and determined actions, driving sustainable development to be integrated into strategy, embedded in management, and deeply rooted in operations. This strengthens the solid foundation for long-term success and enables us to continuously contribute, through tangible efforts from HitGen, to our customers, collaborators, investors, employees, as well as the environment and communities on which we depend.”

  • Sustainable Corporate Governance

HitGen continuously optimizes its governance system, upholds the principle of integrity in business operations to set an industry benchmark, and establishes a comprehensive risk management system to promote long-term and stable development, creating sustainable value for all stakeholders.

  • Responsible Value Chain

HitGen adheres to product safety and service quality, builds a sustainable supply chain, systematically manages all aspects of the value chain, and is committed to collaboratively creating long-term comprehensive value with stakeholders.

  • Employees and Community

HitGen regards employees as the core driving force for sustainable development and communities as important partners for mutual growth. Adhering to a responsibility philosophy centred on people and dedicated to giving back to society, HitGen promotes employee growth and community co-development.

  • Environment

HitGen adheres to the concept of green development, integrates environmental management into corporate operation and development strategies, and systematically advances environmental management, ecological protection, waste management, resource utilization, addressing climate change and other initiatives.

Dr. Jin Li said, “Every step counts, leading to great distances. On our journey to becoming a world-class innovative biopharmaceutical enterprise, we will continue to adhere to market demand as our guide and technological breakthroughs as our engine, continuously optimizing our innovative drug discovery services system, and contributing to building a more inclusive, healthy, green and accessible world.”

For more information on HitGen’s Sustainability Report, please visit:

https://www.hitgen.com/en/sustainability.html

About HitGen Inc.

HitGen Inc. (SSE: 688222.SH) is dedicated to building a world-class innovative biopharmaceutical enterprise. Driven by the mission to advance human health and quality of life, it provides innovative therapeutic solutions to address unmet medical needs. Centered on its internationally leading DEL (DNA-encoded Library) technology, the Company has expanded into Fragment-Based Drug Discovery and Structure-Based Drug Design and a suite of complementary platforms based on Oligonucleotide-based Therapeutics, Targeted Proximity Drugs, and Cyclic Peptidomimetics, and has developed HAILO, a proprietary “DEL+AI+Automation” molecular optimization platform, thereby establishing a distinctive novel molecule discovery engine that delivers both therapeutics molecules and tool molecules to the global pharmaceutical industry. Headquartered in Chengdu, China, HitGen maintains subsidiaries in Cambridge, UK, and Houston, USA, with its operational network spanning the globe. Through diversified and flexible business models including technical services, project out-licensing and product sales, the Company has forged extensive collaborations with a broad range of pharmaceutical and biotechnology companies, chemical firms, foundations, and research institutions. As of the end of 2025, it has empowered over 600 clients globally and contributed to thousands of their innovative drug development projects. HitGen also advances multiple internal programmes at various clinical and preclinical stages. For more information, please visit www.hitgen.com.

Daqo New Energy Announces Unaudited First Quarter 2026 Financial Results

SHANGHAI, April 29, 2026 /PRNewswire/ — Daqo New Energy Corp. (NYSE: DQ) (“Daqo New Energy” the “Company” or “we”), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced its unaudited financial results for the first quarter ended March 31, 2026.

First Quarter 2026 Financial and Operating Highlights

  • Aggregate of cash, short-term investments, bank notes receivable, held-to-maturity investments and fixed term bank deposit balance was $2.00 billion at the end of Q1 2026, compared to $2.27 billion at the end of Q4 2025
  • Polysilicon production volume was 43,402 MT in Q1 2026, compared to 42,181 MT in Q4 2025
  • Polysilicon sales volume was 4,482 MT in Q1 2026, compared to 38,167 MT in Q4 2025
  • Polysilicon average total production cost(1) was $5.95/kg in Q1 2026, compared to $5.83/kg in Q4 2025
  • Polysilicon average cash cost(1) was $4.59/kg in Q1 2026, compared to $4.46/kg in Q4 2025
  • Polysilicon average selling price (ASP) was $5.96/kg in Q1 2026, compared to $5.83/kg in Q4 2025
  • Revenue was $26.7 million in Q1 2026, compared to $221.7 million in Q4 2025
  • Gross loss was $139.4 million in Q1 2026, compared to gross profit of $15.4 million in Q4 2025; gross margin was negative 521.5% in Q1 2026, compared to 7.0% in Q4 2025
  • Net loss attributable to Daqo New Energy Corp. shareholders was $88.4 million in Q1 2026, compared to $7.3 million in Q4 2025; loss per basic American Depositary Share (ADS)(3) was $1.31 in Q1 2026, compared to $0.11 in Q4 2025
  • Adjusted net loss (non-GAAP)(2) attributable to Daqo New Energy Corp. shareholders was $88.4 million in Q1 2026, compared to $7.3 million in Q4 2025
  • Adjusted loss per basic ADS(3) (non-GAAP)(2) was $1.31 in Q1 2026, compared to adjusted loss per basic ADS(3) (non-GAAP)(2) of $0.11 in Q4 2025; EBITDA (non-GAAP)(2) was negative $83.1 million in Q1 2026, compared to $52.5 million in Q4 2025; EBITDA margin (non-GAAP)(2) was negative 311.1% in Q1 2026, compared to 23.7% in Q4 2025

 

Three months ended

US$ millions

except as indicated otherwise

Mar. 31,
2026

Dec. 31,
2025

Mar. 31,
2025

Revenues

26.7

221.7

123.9

Gross (loss)/profit

(139.4)

15.4

(81.5)

Gross margin

(521.5) %

7.0 %

(65.8) %

Loss from operations

(150.8)

(20.9)

(114.1)

Net loss attributable to Daqo New Energy Corp.
shareholders

(88.4)

(7.3)

(71.8)

Loss per basic ADS(3) ($ per ADS)

(1.31)

(0.11)

(1.07)

Adjusted net loss (non-GAAP)(2) attributable to Daqo
New Energy Corp. shareholders

(88.4)

(7.3)

(53.2)

Adjusted loss per basic ADS(3) (non-GAAP)(2) ($ per
ADS)

(1.31)

(0.11)

(0.80)

EBITDA (non-GAAP)(2)

(83.1)

52.5

(48.4)

EBITDA margin (non-GAAP)(2)

(311.1) %

23.7 %

(39.1) %

Polysilicon sales volume (MT)

4,482

38,167

28,008

Polysilicon average total production cost ($/kg)(1)

5.95

5.83

7.57

Polysilicon average cash cost (excl. dep’n) ($/kg)(1)

4.59

4.46

5.31

Notes:
(1)     Production cost and cash cost only refer to production in our polysilicon facilities. Production cost is calculated by the inventoriable costs relating to production of polysilicon divided by the production volume in the period indicated. Cash cost is calculated by the inventoriable costs relating to production of polysilicon excluding depreciation cost and non-cash share-based compensation cost, divided by the production volume in the period indicated.
(2)     Daqo New Energy provides EBITDA, EBITDA margins, adjusted net income attributable to Daqo New Energy Corp. shareholders and adjusted earnings per basic ADS on a non-GAAP basis to provide supplemental information regarding its financial performance. For more information on these non-GAAP financial measures, please see the section captioned “Use of Non-GAAP Financial Measures” and the tables captioned “Reconciliation of non-GAAP financial measures to comparable US GAAP measures” set forth at the end of this press release.
(3)     ADS means American Depositary Share. One (1) ADS represents five (5) ordinary shares.

Management Remarks

Mr. Xiang Xu, CEO of Daqo New Energy, commented, “In the first quarter of 2026, market sentiment across the solar PV industry remained cautious amid seasonal softness and elevated inventory levels. It was further exacerbated by rising module prices, driven by higher silver, aluminum, and glass costs, which led to a market slowdown in China. Geopolitical tensions in the Middle East also weighed on end-market demand in the region. Against this backdrop, persistent industry overcapacity continued to exert downward pressure on polysilicon prices, resulting in quarterly operating and net losses. Notwithstanding these headwinds, we continued to maintain a robust and healthy balance sheet with zero debt. As of March 31, 2026, we held a cash balance of $559.4 million, short-term investments of $288.3 million, bank notes receivables of $20.8 million, held-to-maturity investments of $50.3 million, and a fixed term bank deposit balance of $1.1 billion. In total, these assets that can be converted into cash stood at $2.0 billion, providing us with ample liquidity. This solid financial position gives us the confidence and strategic flexibility to navigate the current market downturn.”

“On the operational front, we continued to take proactive measures to navigate challenging market conditions and weak selling prices, with nameplate capacity utilization rate operating at approximately 57%. Total production volume at our two polysilicon facilities was 43,402 MT for the quarter, exceeding our guidance range of 35,000 MT to 40,000 MT. With market prices for polysilicon experiencing a notable decline to be below production costs during the quarter, we adhered to the Chinese authorities’ self-regulation guidelines by declining to engage in below-cost sales. We adopted a disciplined, wait-and-see approach pending further implementation of the national anti-involution policies we highlighted last quarter. As a result, our sales volume dropped to 4,482 MT, while our average selling price increased 2.3% sequentially to $5.96/kg. On the cost side, total production and cash costs increased marginally by 2% and 3%, respectively, on a sequential basis, primarily driven by exchange rate movements. However, despite higher silicon metal costs, manufacturing costs in RMB terms actually declined slightly on a sequential basis, reflecting our continued improvements in manufacturing efficiency.”

“In light of the current market dynamics, we expect total polysilicon production volume in the second quarter of 2026 to be approximately 35,000 MT to 40,000 MT. For the full year of 2026, we expect production volume to remain in the range of 140,000 MT to 170,000 MT.”

“With the solar market impacted by seasonality surrounding the Chinese New Year holidays and the absence of concrete updates on capacity rationalization policies, polysilicon transactions and shipment volumes remained low during the quarter. N-type polysilicon prices dropped from RMB 48-55/kg at the end of 2025 to RMB 35-37/kg by the end of the first quarter. However, polysilicon prices heading into the second quarter are showing signs of bottoming out, with weekly declines gradually easing. While producers awaited clear guidelines from authorities to tackle overcapacity, a weak demand outlook, industry inventory build-up, and financial pressure forced several peers to adjust their production and pricing strategies toward a more market-oriented approach. As a result, industry-level monthly polysilicon supply fell to approximately 93,000 MT during the quarter, representing an industry average utilization rate of just 39%. Looking ahead, we expect government authorities to strengthen the anti-involution policies necessary to address these industry-wide overcapacity issues. As an encouraging move, on April 17, the Ministry of Industry and Information Technology, the National Development and Reform Commission, the State Administration for Market Regulation, the National Energy Administration, and other key national departments jointly held a symposium on regulating market competition within the solar PV sector, reinforcing the urgent need to address irrational competition and curb destructive involution. Additionally, all relevant authorities are now required to deploy concerted measures to strengthen industry governance and promote the high-quality development of the solar PV industry, including in respect of capacity regulation, standards guidance, innovation-driven development, price law enforcement, quality supervision, mergers and acquisitions, and intellectual property rights protection.”

“More broadly, the solar PV industry continues to exhibit compelling long-term growth prospects. Growing vulnerabilities in global energy markets have sparked widespread concerns about national energy security, in which the solar PV and renewable energy sectors can play a crucial role. As one of the world’s lowest-cost producers of the highest-quality N-type polysilicon, backed by a robust balance sheet and zero debt, we remain optimistic about the sector and are well positioned to capitalize on the anticipated market recovery and long-term growth opportunities. We will continue to strengthen our competitive edge through advancements in high-efficiency N-type technology and cost optimization via digital transformation and AI adoption. As the world accelerates its transition to clean energy, we are confident in our ability to play a leading role in shaping that future.”

Outlook and guidance

The Company expects to produce approximately 35,000 MT to 40,000 MT of polysilicon during the second quarter of 2026. The Company expects to produce approximately 140,000 MT to 170,000 MT of polysilicon for the full year of 2026, inclusive of the impact of the Company’s annual facility maintenance.

This outlook reflects Daqo New Energy’s current and preliminary view as of the date of this press release and may be subject to changes. The Company’s ability to achieve these projections is subject to risks and uncertainties. See “Safe Harbor Statement” at the end of this press release.

First Quarter 2026 Results

Revenues

Revenues were $26.7 million, compared to $221.7 million in the fourth quarter of 2025 and $123.9 million in the first quarter of 2025. The decrease in revenues compared to the fourth quarter of 2025 was primarily due to a decrease in sales volume, as the Company reduced sales in light of the relative low selling prices.

Gross (loss)/profit and margin

Gross loss was $139.4 million, compared to gross profit of $15.4 million in the fourth quarter of 2025 and gross loss of $81.5 million in the first quarter of 2025. Gross margin was negative 521.5%, compared to 7.0% in the fourth quarter of 2025 and negative 65.8% in the first quarter of 2025. The decrease in gross margin compared to the fourth quarter of 2025 was primarily due to an increase in provisions for inventory impairment.

Selling, general and administrative expenses

Selling, general and administrative (SG&A) expenses were $12.2 million, compared to $18.7 million in the fourth quarter of 2025 and $35.1 million in the first quarter of 2025. The sequential decrease was primarily due to lower sales volume in the first quarter of 2026. The year-over-year decrease was also because the Company recognized $18.6 million in non-cash share-based compensation related to its share incentive plans in the first quarter of 2025.

Research and development expenses

Research and development (R&D) expenses were $0.8 million, compared to $0.7 million in the fourth quarter of 2025 and $0.5 million in the first quarter of 2025. R&D expenses can vary from period to period and reflect R&D activities that take place during the quarter.

Loss from operations and operating margin

As a result of the foregoing, loss from operations was $150.8 million, compared to $20.9 million in the fourth quarter of 2025 and $114.1 million in the first quarter of 2025.

Operating margin was negative 564.4%, compared to negative 9.4% in the fourth quarter of 2025 and negative 92.0% in the first quarter of 2025.

Net loss attributable to Daqo New Energy Corp. shareholders and loss per ADS

As a result of the foregoing, net loss attributable to Daqo New Energy Corp. shareholders was $88.4 million, compared to $7.3 million in the fourth quarter of 2025 and $71.8 million in the first quarter of 2025.

Loss per basic ADS was $1.31, compared to $0.11 in the fourth quarter of 2025 and $1.07 in the first quarter of 2025.

Adjusted net loss (non-GAAP) attributable to Daqo New Energy Corp. shareholders and adjusted loss per ADS (non-GAAP)

Adjusted net loss (non-GAAP) attributable to Daqo New Energy Corp. shareholders, excluding non-cash share-based compensation costs, was $88.4 million, compared to $7.3 million in the fourth quarter of 2025 and $53.2 million in the first quarter of 2025.

Adjusted loss per basic ADS was $1.31, compared to $0.11 in the fourth quarter of 2025 and $0.80 in the first quarter of 2025.

EBITDA

EBITDA (non-GAAP) was negative $83.1 million, compared to $52.5 million in the fourth quarter of 2025 and negative $48.4 million in the first quarter of 2025. EBITDA margin (non-GAAP) was negative 311.1%, compared to 23.7% in the fourth quarter of 2025 and negative 39.1% in the first quarter of 2025.

Financial Condition

As of March 31, 2026, the Company had $559.4 million in cash, cash equivalents and restricted cash, compared to $980.3 million as of December 31, 2025 and $791.9 million as of March 31, 2025. As of March 31, 2026, short-term investment was $288.3 million, compared to $114.0 million as of December 31, 2025 and $168.2 million as of March 31, 2025. As of March 31, 2026, the notes receivable balance was $20.8 million, compared to $135.5 million as of December 31, 2025 and $62.7 million as of March 31, 2025. Notes receivable represents bank notes with maturity within six months. As of March 31, 2026, held-to-maturity investment was $50.3 million, compared to nil as of December 31, 2025 and nil as of March 31, 2025. As of March 31, 2026, the balance of fixed term deposit within one year was $1.0 billion, compared to $972.4 million as of December 31, 2025 and $1.1 billion as of March 31, 2025.

Cash Flows

For the three months ended March 31, 2026, net cash used in operating activities was $147.5 million, compared to $38.9 million in the same period of 2025.

For the three months ended March 31, 2026, net cash used in investing activities was $275.8 million, compared to $211.0 million in the same period of 2025. The net cash used in investing activities in 2026 was primarily related to the purchase of short-term investments and fixed term deposits.

For the three months ended March 31, 2026, net cash used in financing activities was $7.8 million, compared to nil in the same period of 2025. The net cash used in financing activities in 2026 was primarily related to $7.8 million in stock repurchases made by the Company’s subsidiary, Xinjiang Daqo, from its minority shareholders.

Use of Non-GAAP Financial Measures

To supplement Daqo New Energy’s consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles (“US GAAP”), the Company uses certain non-GAAP financial measures that are adjusted for certain items from the most directly comparable GAAP measures including earnings before interest, taxes, depreciation and amortization (“EBITDA”) and EBITDA margin; adjusted net income attributable to Daqo New Energy Corp. shareholders and adjusted earnings per basic and diluted ADS. Our management believes that each of these non-GAAP measures is useful to investors, enabling them to better assess changes in key element of the Company’s results of operations across different reporting periods on a consistent basis, independent of certain items as described below. Thus, our management believes that, used in conjunction with US GAAP financial measures, these non-GAAP financial measures provide investors with meaningful supplemental information to assess the Company’s operating results in a manner that is focused on its ongoing, core operating performance. Our management uses these non-GAAP measures internally to assess the business, its financial performance, current and historical results, as well as for strategic decision-making and forecasting future results. Given our management’s use of these non-GAAP measures, the Company believes these measures are important to investors in understanding the Company’s operating results as seen through the eyes of our management. These non-GAAP measures are not prepared in accordance with US GAAP or intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with US GAAP; the non-GAAP measures should be reviewed together with the US GAAP measures, and may be different from non-GAAP measures used by other companies.

The Company uses EBITDA, which represents earnings before interest, taxes, depreciation and amortization, and EBITDA margin, which represents the proportion of EBITDA in revenues. Adjusted net income attributable to Daqo New Energy Corp. shareholders and adjusted earnings per basic and diluted ADS exclude costs related to share-based compensation. Share-based compensation is a non-cash expense that varies from period to period. As a result, our management excludes this item from our internal operating forecasts and models. Our management believes that this adjustment for share-based compensation provides investors with a basis to measure the Company’s core performance, including compared with the performance of other companies, without the period-to-period variability created by share-based compensation.

A reconciliation of non-GAAP financial measures to comparable US GAAP measures is presented later in this document.

Conference Call

The Company has scheduled a conference call to discuss the results at 8:00 AM U.S. Eastern Time on Wednesday, April 29, 2026 (8:00 PM Beijing / Hong Kong time on the same day).

The dial-in details for the earnings conference call are as follows:

Participant dial in (U.S. toll free): +1-888-346-8982

Participant international dial in: +1-412-902-4272

China mainland toll free: 4001-201203

Hong Kong toll free: 800-905945

Hong Kong local toll: +852-301-84992

Please dial in 10 minutes before the call is scheduled to begin and ask to join the Daqo New Energy Corp. call.

Webcast link:

https://event.choruscall.com/mediaframe/webcast.html?webcastid=iLpvzzAF

A replay of the call will be available 1 hour after the conclusion of the conference call through May 6, 2026. The dial-in details for the conference call replay are as follows:

U.S. toll free: +1-877-344-7529

International toll: +1-412-317-0088

Canada toll free: 855-669-9658

Replay access code: 7616875

To access the replay through an international dial-in number, please select the link below.

https://services.choruscall.com/ccforms/replay.html

Participants will be asked to provide their name and company name upon entering the call.

About Daqo New Energy Corp.

Daqo New Energy Corp. (NYSE: DQ) (“Daqo” or the “Company”) is a leading manufacturer of high-purity polysilicon for the global solar PV industry. Founded in 2007, the Company manufactures and sells high-purity polysilicon to photovoltaic product manufacturers, who further process the polysilicon into ingots, wafers, cells and modules for solar power solutions. The Company has a total polysilicon nameplate capacity of 305,000 metric tons and is one of the world’s lowest cost producers of high-purity polysilicon.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “guidance” and similar statements. Among other things, the outlook for the second quarter and the full year of 2026 and quotations from management in these announcements, as well as Daqo New Energy’s strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its reports filed or furnished to the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, all of which are difficult or impossible to predict accurately and many of which are beyond the Company’s control. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the demand for photovoltaic products and the development of photovoltaic technologies; global supply and demand for polysilicon; alternative technologies in cell manufacturing; the Company’s ability to significantly expand its polysilicon production capacity and output; the reduction in or elimination of government subsidies and economic incentives for solar energy applications; the Company’s ability to lower its production costs; and changes in political and regulatory environment. Further information regarding these and other risks is included in the reports or documents the Company has filed with, or furnished to, the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date hereof, and the Company undertakes no duty to update such information or any forward-looking statement, except as required under applicable law.

Daqo New Energy Corp.

Unaudited Condensed Consolidated Statements of Operations

(US dollars in thousands, except ADS and per ADS data)

Three months Ended

Mar. 31,
2026

Dec. 31,
2025

Mar. 31,
2025

Revenues    

26,722

221,711

123,914

Cost of revenues

(166,088)

(206,272)

(205,449)

Gross (loss)/profit

(139,366)

15,439

(81,535)

Operating expenses

 Selling, general and administrative expenses

(12,163)

(18,730)

(35,085)

 Allowance for expected credit loss

(19,294)

 Research and development expenses

(783)

(722)

(507)

 Other operating income

1,500

2,418

3,074

Total operating expenses

(11,446)

(36,328)

(32,518)

Loss from operations

(150,812)

(20,889)

(114,053)

 Interest income, net

2,516

1,821

2,670

 Foreign exchange (loss)/gain

(2)

3

22

 Investments income

4,987

5,658

6,354

Loss before income taxes

(143,311)

(13,407)

(105,007)

Income tax benefit

21,644

3,546

12,274

Net loss

(121,667)

(9,861)

(92,733)

Net loss attributable to non-controlling interest

(33,292)

(2,581)

(20,896)

Net loss attributable to Daqo New Energy Corp.
  shareholders

(88,375)

(7,280)

(71,837)

Loss per ADS

  Basic

(1.31)

(0.11)

(1.07)

  Diluted

(1.31)

(0.11)

(1.07)

Weighted average ADS outstanding

 Basic

67,666,301

67,666,301

66,938,183

 Diluted

67,666,301

67,666,301

66,938,183

 

 

Daqo New Energy Corp. 

Unaudited Condensed Consolidated Balance Sheets 

(US dollars in thousands) 

Mar. 31, 2026

Dec. 31, 2025

Mar. 31, 2025

ASSETS:

Current Assets:

 Cash, cash equivalents and restricted cash

559,421

980,292

791,930

 Short-term investments

288,279

113,979

168,203

 Accounts and notes receivable

20,779

135,518

62,818

 Inventories

258,284

169,103

125,918

 Fixed term deposit within one year

1,018,832

972,358

1,125,323

 Other current assets

365,917

321,138

303,156

 Held-to-Maturity Investments

50,333

Total current assets

2,561,845

2,692,388

2,577,348

 Property, plant and equipment, net

3,396,463

3,399,055

3,460,203

 Prepaid land use right

157,388

155,576

152,854

 Fixed term deposit over one year

64,587

63,212

 Other non-current assets

158,994

135,305

120,281

TOTAL ASSETS

6,339,277

6,445,536

6,310,686

Current liabilities:

 Accounts payable and notes payable

118,895

129,663

28,694

 Advances from customers – short term portion

23,543

45,433

33,032

 Payables for purchases of property, plant and

 equipment

251,216

278,957

357,562

 Other current liabilities

32,084

43,780

39,471

Total current liabilities

425,738

497,833

458,759

 Advance from customers – long term portion

5,511

13,208

20,967

 Other non-current liabilities

18,329

18,180

17,610

TOTAL LIABILITIES

449,578

529,221

497,336

 

EQUITY:

 Total Daqo New Energy Corp.’s shareholders’
  equity

4,392,608

4,406,727

4,329,201

Non-controlling interest

1,497,091

1,509,588

1,484,149

Total equity

5,889,699

5,916,315

5,813,350

TOTAL LIABILITIES & EQUITY

6,339,277

6,445,536

6,310,686

 

 

Daqo New Energy Corp.

Unaudited Condensed Consolidated Statements of Cash Flows

(US dollars in thousands)

For the three months ended March 31,

2026

2025

Operating Activities:

         Net loss

(121,667)

(92,733)

         Adjustments to reconcile net income to net cash provided by
         operating activities

160,069

123,788

         Changes in operating assets and liabilities

(185,914)

(69,936)

Net cash used in operating activities

(147,512)

(38,881)

Investing activities:

        Purchases of property, plant and equipment

(28,691)

(57,632)

        Purchase of investments

(474,635)

(1,014,899)

        Redemption of short-term investments and fixed term deposits

227,559

861,517

Net cash used in investing activities

(275,767)

(211,014)

Financing activities:

Net cash used in financing activities

(7,790)

Effect of exchange rate changes

10,198

3,476

Net decrease in cash, cash equivalents and restricted cash

(420,871)

(246,419)

Cash, cash equivalents and restricted cash at the beginning of the
year

980,292

1,038,349

Cash, cash equivalents and restricted cash at the end of the year

559,421

791,930

 

 

Daqo New Energy Corp.

Reconciliation of non-GAAP financial measures to comparable US GAAP measures

(US dollars in thousands)

Three months Ended

Mar. 31, 2026

Dec. 31, 2025

Mar. 31, 2025

Net loss

(121,667)

(9,861)

(92,733)

Income tax benefit

(21,644)

(3,546)

(12,274)

Interest income, net

(2,516)

(1,821)

(2,670)

Depreciation & amortization

62,705

67,776

59,245

EBITDA (non-GAAP)

(83,122)

52,548

(48,432)

EBITDA margin (non-GAAP)

(311.1) %

23.7 %

-39.1 %

 

Three months Ended

Mar. 31, 2026

Dec. 31, 2025

Mar. 31, 2025

Net loss attributable to Daqo New Energy
   Corp. shareholders

(88,375)

(7,280)

(71,837)

Share-based compensation

18,606

Adjusted net loss attributable to Daqo New
   Energy Corp. shareholders (non-GAAP)

(88,375)

(7,280)

(53,231)

Adjusted loss per basic ADS (non-GAAP)

(1.31)

(0.11)

(0.80)

Adjusted loss per diluted ADS (non-GAAP)

(1.31)

(0.11)

(0.80)

 

Dead Fish in Xe Don River Spark Questions Over Official Investigation

Dead fish floating along Xe Don River raising environmental concerns in Laos
A picture of officials from the Livestock and Fisheries Sector conducting an investigation behind the mass fish death in Xe Don river, Salavnah with a picture of death fish near the river. (Photo by Paxason)

Authorities in Salavanh province have attributed the mass death of fish along the Xe Don River to extreme heat, but the explanation has drawn public skepticism and raised concerns about possible pollution.

Residents first reported dead fish floating along the riverbank in Khongxedon district on 23 April, accompanied by a strong odor and fears over water safety.

On 28 April, officials from the Livestock and Fisheries Sector conducted on-site inspections across multiple villages in Khongxedon and Salavanh districts. Head of the sector Phetnykone Sinthasack announced that water quality tests found no signs of pollution or toxic wastewater.

According to the Salavanh authorities, test results showed pH levels between 7.8 and 8.06 and dissolved oxygen levels between 6.8 and 7.12, both within safe ranges for aquatic life. However, water temperatures reached 32.1 degree Celsius, above seasonal norms and potentially harmful to heat-sensitive fish species.

Authorities emphasized that the heat is linked to El Niño, a natural climate pattern caused by warmer Pacific Ocean temperatures that can bring hotter and drier weather to parts of Southeast Asia, according to the World Health Organization

Therefore, environmental officials believed the combination of hotter water and reduced water-flow likely placed stress on fish, especially species less tolerant of heat. 

Officials also noted that illegal fishing methods, including electric shock devices, may have contributed to fish deaths in some locations.

Public Questions Official Explanation as Concerns Grow

The official conclusion has triggered skepticism online, with many residents calling for a deeper and more transparent investigation. 

One commenter wrote, “If fish died because of hot weather, then fish across the whole country should be dying,” reflecting doubts that temperature alone could explain the incident. 

Another said, “The water looks polluted just by seeing the surface,” suggesting that contamination could be a cause rather than the heat. 

Beyond that, some also pointed to nearby plantations and factories as possible sources of the incident. The comments show wider public concern over water safety and environmental monitoring. 

Christie’s and Porsche Design Tower Bangkok Host an Exclusive Collector’s Evening in Bangkok


STUTTGART, GERMANY / BANGKOK, THAILAND – Media OutReach Newswire – 29 April 2026 -Porsche Design Tower Bangkok and Christie’s co-hosted The Collector’s Evening, an exclusive invitation-only event held at The Peak, Gaysorn Tower, Bangkok. The private gathering brought together rare highlights from Christie’s forthcoming Hong Kong and Geneva auctions before a distinguished audience of collectors, investors, and wealth intermediaries, marking one of the most distinguished gatherings of collectors Bangkok has seen this year.

Melissa Chollasap (4th from left), Managing Director of Porsche Design Tower Bangkok, and Prapavadee Sophonpanich (5th from left), Senior Vice President, Managing Director of Christie's Thailand, Cambodia, Laos, Myanmar and Vietnam, co-hosted The Collector's Evening, a private preview of rare highlights from Christie's forthcoming Hong Kong and Geneva auctions, in Bangkok.
Melissa Chollasap (4th from left), Managing Director of Porsche Design Tower Bangkok, and Prapavadee Sophonpanich (5th from left), Senior Vice President, Managing Director of Christie’s Thailand, Cambodia, Laos, Myanmar and Vietnam, co-hosted The Collector’s Evening, a private preview of rare highlights from Christie’s forthcoming Hong Kong and Geneva auctions, in Bangkok.

The auction preview brought together a rare timepiece, a significant work of jewelry art, and a highly limited collectible — each with a provenance and a place in the collector market that extends well beyond its auction estimate. The evening was led by Vickie Sek, Deputy Chairman and Asia Pacific Chairman of Christie’s, and Alexandre Bigler, Senior Vice President and Head of Watches for Asia Pacific, whose attendance of the event in Bangkok reflects the growing weight of the city’s collector community on the regional stage. This year marks Christie’s 40th year of presence in Asia.

Porsche Design Tower Bangkok served as co-host — an adequate setting that reflects the exclusivity of the objects on display. Born from the collaboration between Porsche Design and Ananda Development PCL, the tower is guided by Professor F. A. Porsche’s founding principle of optimising function while uncompromisingly reducing form to the essentials. The result is ‘Sky Villa’ residences — distinguished by design, exclusive in the truest sense, and coveted by those who understand the true meaning and value of architectural excellence. With just 22 residences, Porsche Design Tower Bangkok underscores its profound exclusivity but unequivocally establishes it as an unparalleled, coveted address. Beyond the preview, the evening served as an intimate occasion for Porsche Design Tower Bangkok to host its clients and prospective owners within a setting that reflected the project’s own collector values.

Central to that distinction is the ‘Passion Space’ — a private collector’s garage directly connected to each residence by private lift. Whatever its owner chooses to place within it, the ‘Passion Space’ was designed with the same conviction that defined the evening: that what individuals surround themselves with is never incidental.

Porsche Design Tower Bangkok emerges as one of merely two Porsche Design residential towers globally, drawing a parallel only with its prestigious Miami counterpart.

For those who value the extraordinary, Porsche Design Tower Bangkok welcomes private viewings by appointment at pdtowerbangkok.com.

Hashtag: #PorscheDesign

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

About Porsche Design:

In 1963, Professor Ferdinand Alexander Porsche created one of the most iconic design objects in contemporary history: the Porsche 911. Following his vision to take the principles and myth of Porsche beyond the automotive world, he created the exclusive lifestyle brand Porsche Design in 1972. His philosophy and design language can still be seen in all Porsche Design products today. Every Porsche Design product stands for extraordinary precision and perfection, boasts a high level of technological innovation and seamlessly combines intelligent functionality and puristic design. Created by Studio F. A. Porsche in Austria, our products are sold worldwide in Porsche Design stores, high-end department stores, exclusive specialist retailers and the official online store ().

European Commission (EC) Approves Henlius and Organon’s POHERDY® (pertuzumab), the First Approved Biosimilar to PERJETA (pertuzumab) in Europe

SHANGHAI, April 29, 2026 /PRNewswire/ — Shanghai Henlius Biotech, Inc. (2696.HK), and Organon (NYSE: OGN) today announced the European Commission (EC) has granted marketing authorization for POHERDY® (pertuzumab) 420 mg/14 mL injection for intravenous use, the first and only approved biosimilar to PERJETA (pertuzumab) in Europe, for all indications of the reference product.[1]

“As the first, and currently the only, pertuzumab biosimilar in Europe, the EC’s approval of POHERDY marks an important milestone in expanding access to treatments for patients with certain HER2-positive breast cancers, particularly  as breast cancer is the most commonly diagnosed cancer among women in the European Union,” said Joe Azzinaro, Vice President, Global Commercial Lead Biosimilars, at Organon.[2],[3]  “Organon’s growing global portfolio of biosimilars reinforces our ongoing commitment to supporting the sustainability of health care systems while advancing women’s health through access to quality medicines.”[3],[4]

“Building on POHERDY’s FDA approval in the United States as the country’s first pertuzumab biosimilar, this EU approval further expands our growing portfolio of approved biosimilar medicines in markets around the world and is a testament to our strong collaboration with Organon,” said Ping Cao, Chief Business Development Officer and Senior Vice President of Henlius. “Guided by our commitment to scientific excellence and product quality, we are working to expand access to additional treatment options for the benefit of patients and the health care system.”

In Europe, POHERDY is indicated in combination with trastuzumab and docetaxel for the treatment of adults with HER2-positive metastatic or locally recurrent unresectable breast cancer, who have not received previous anti-HER2 therapy or chemotherapy for metastatic disease. POHERDY is also indicated for use in combination with trastuzumab and chemotherapy as (i) neoadjuvant treatment of adults with HER2-positive, locally advanced, inflammatory, or early stage breast cancer at high risk of recurrence and (ii) adjuvant treatment of adults with HER2-positive early breast cancer at high risk of recurrence.

POHERDY was approved based on the review of a comprehensive data package, which included structural and functional analytical data, clinical pharmacokinetic data, and comparative clinical studies demonstrating that POHERDY is a biological medicine highly similar to the reference product based on a totality of evidence, including analytical, pharmacokinetic, efficacy, safety, and immunogenicity data  (the intrinsic ability of proteins and other biological medicines to cause an immune response).[5]

In 2022, Henlius entered into a license and supply agreement with Organon, granting Organon the exclusive commercialization rights to several biosimilars, including POHERDY. The agreement covers exclusive global commercialization rights except for China.[6]

About POHERDY® (pertuzumab) in the E.U.

Early breast cancer 
POHERDY is indicated for use in combination with trastuzumab and chemotherapy in:

  • the neoadjuvant treatment of adult patients with HER2-positive, locally advanced, inflammatory, or early stage breast cancer at high risk of recurrence
  • the adjuvant treatment of adult patients with HER2-positive early breast cancer at high risk of recurrence (see section 5.1)

Metastatic breast cancer 
POHERDY is indicated for use in combination with trastuzumab and docetaxel in adult patients with HER2-positive metastatic or locally recurrent unresectable breast cancer, who have not received previous anti-HER2 therapy or chemotherapy for their metastatic disease.

For more information please visit: Poherdy | European Medicines Agency (EMA)

About Henlius

Shanghai Henlius Biotech, Inc. (2696.HK) is a global, innovation-driven biopharmaceutical company committed to delivering high-quality, affordable biologic therapies to patients worldwide. The Company focuses on major disease areas including oncology, autoimmune diseases, and ophthalmic diseases. Founded in 2010, Henlius has established an integrated, end-to-end biopharmaceutical platform encompassing global R&D, clinical operations, regulatory affairs, manufacturing, and commercialisation. The Company employs nearly 4,000 people globally and operates across multiple regions, including China, the United States, and Japan. Leveraging the stable cash flow generated from its biosimilar portfolio to support innovation, Henlius is steadily advancing into its “Globalisation 2.0” phase, building a scalable and sustainable global growth model. As of early 2026, Henlius has achieved regulatory approvals for 10 products across over 60 countries and regions worldwide, including seven approvals in China. The Company has also reached multiple milestones in major biopharmaceutical markets, with four products approved by the U.S. Food and Drug Administration (FDA) and five products approved by the European Commission (EC), reflecting its globally aligned R&D capabilities, quality systems, and manufacturing standards.

Driven by innovation, Henlius has built a diversified, platform-based technology ecosystem through coordinated R&D efforts across Shanghai, the United States, and other regions. Its innovation platforms span immune checkpoint inhibitors, immune cell engager technologies (including multispecific T cell engagers), antibody-drug conjugates (ADCs), and AI-enabled early discovery platforms. The Company currently has more than 50 early-stage innovative assets, approximately 70% of which are expected to be best-in-class, with over 30 clinical trials ongoing globally. Henlius’ core product, serplulimab (trade name: Hetronifly® in Europe), is the world’s first anti–PD-1 mAb approved for first-line treatment of small cell lung cancer and has been approved in more than 40 markets worldwide with an accelerated globalisation process. In parallel, multiple high-potential innovative assets—including the PD-L1 ADC HLX43 and the novel epitope anti-HER2 mAb HLX22—are advancing through global pivotal clinical development. Supported by a biologics manufacturing network with a total capacity of 84,000L and GMP certifications from regulatory authorities in China, Europe, and the United States, Henlius has established a stable global supply system serving six continents. Guided by a patient-centred mission, Henlius remains focused on addressing unmet medical needs and translating scientific innovation into meaningful clinical value and patient access, contributing sustainably to the global biopharmaceutical ecosystem.

To learn more about Henlius, visit https://www.henlius.com/en/index.html and connect with us on LinkedIn at https://www.linkedin.com/company/henlius/.

About Organon

Organon (NYSE: OGN) is a global healthcare company with a mission to deliver impactful medicines and solutions for a healthier every day. With a portfolio of over 70 products across Women’s Health and General Medicines, which includes biosimilars, Organon focuses on addressing health needs that uniquely, disproportionately or differently affect women, while expanding access to essential treatments in over 140 markets. 

Headquartered in Jersey City, New Jersey, Organon is committed to advancing access, affordability, and innovation in healthcare. Learn more at www.organon.com and follow us on LinkedInInstagramXYouTubeTikTok and Facebook.

Cautionary Note Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995, including, but not limited to, statements about POHERDY treatment goals and Organon’s ongoing commitment to supporting the sustainability of health care systems while advancing women’s health through access to quality medicine. Forward-looking statements may be identified by words such as “will,” “plan,” “ongoing,” “commitment to supporting,” “may,” and words of similar meaning. These statements are based upon the current beliefs and expectations of Organon’s management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate, or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause results to differ materially from those described in the forward-looking statements can be found in Organon’s filings with the SEC, including Organon’s most recent Annual Report on Form 10-K and other SEC filings, available at the SEC’s Internet site (www.sec.gov). Organon undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

PERJETA is a trademark registered in the European Union by F. Hoffmann-La Roche AG; Organon is not associated with this trademark owner.

1. PERJETA. Product Information. Genentech, Inc.; 2025.

2. Breast cancer in the EU. European Commission, Joint Research Centre. October 2023. Accessed April 14, 2026.
    https://ecis.jrc.ec.europa.eu/sites/default/files/2024-01/jrc_Breast_cancer_2022_Oct_2023.pdf

3. European Medicines Agency and the European Commission. Biosimilars in the EU: information guide for healthcare
    professionals. European Medicines Agency (EMA). Last Updated October 29, 2019. Accessed April 14, 2026.
    https://www.ema.europa.eu/en/documents/leaflet/biosimilars-eu-information-guide-healthcare-professionals_en.pdf

4. Troein P, Newton M, Stoddart K, Travaglio M, Arias A. The impact of biosimilar competition in Europe. IQVIA; January 2025.
    Accessed April 14, 2026.
    https://www.iqvia.com/-/media/iqvia/pdfs/library/white-papers/the-impact-of-biosimilar-competition-in-europe-2024.pdf

5. Biosimilar medicines: overview. European Medicines Agency (EMA). April 2, 2025. Accessed April 14, 2026.
    https://www.ema.europa.eu/en/human-regulatory-overview/biosimilar-medicines-overview

6. Organon Enters into Global License Agreement to Commercialize Henlius’ Investigational Perjeta ®(Pertuzumab) and Prolia
    ®/Xgeva ®(Denosumab) Biosimilar Candidates. Organon. June 13, 2022. Accessed April 14, 2026.
    https://www.organon.com/news/organon-enters-into-global-license-agreement-to-commercialize-henlius-investigational-perjeta-pertuzumab-and-prolia-xgeva-
    denosumab-biosimilar-candidates/

 

Cognizant to Acquire Astreya, Deepening Its AI-First Managed Services Capabilities at Scale

  • Acquisition will expand Cognizant’s AI builder technology stack with production-grade AI operations capabilities

  • Astreya, a specialist in AI infrastructure and data center services with deep expertise in data center and managed workplace services, to join Cognizant amid the largest data center infrastructure buildout in history

TEANECK, N.J., April 29, 2026  /PRNewswire/ — Cognizant (Nasdaq: CTSH) today announced that it has entered into a definitive agreement to acquire Astreya, a leading platform-led, global AI-first IT managed services and solutions provider headquartered in San Jose, California, for an undisclosed sum. The transaction is expected to advance Cognizant’s transformation as an AI builder and to meaningfully expand Cognizant’s AI infrastructure foundation capabilities by harnessing Astreya’s extensive managed services capabilities for enterprise clients at scale.

Founded in 2001 and operating across more than thirty-five countries, Astreya brings a 25-year track record as a trusted partner to the world’s largest technology companies, including long-term, outcome-based managed services relationships with six of the “Magnificent Seven” hyperscalers. Its proprietary AI OpsHub platform, with modules for readiness assessment, signal intelligence, analytics, and agentic automation and Tech Innovation Office are expected to deepen Cognizant’s AI talent pool and strengthen its production-grade AI delivery capabilities, translating broad AI potential into specific business outcomes and enterprise-ready platforms tailored to individual client contexts. Combined with Cognizant’s hybrid-by-design AI infrastructure strategy, Astreya’s differentiated expertise in designing, building, and managing AI infrastructure across the full value chain is expected to help support and accelerate customers’ transformation journeys. Astreya’s bespoke client AI solutions and its ecosystem partnerships anchored by Google Cloud Platform and ServiceNow will become key assets within Cognizant’s global delivery infrastructure.

“Between 2025 and 2030 there is a projected $6.7 trillion AI data center infrastructure buildout currently reshaping the global technology landscape, with global capacity expected to double in five years. The five largest hyperscalers are expected to spend nearly $700 billion on infrastructure in 2026 alone. By acquiring Astreya and its proprietary AI tooling and production-grade infrastructure platform, which is complementary to Cognizant’s AI builder stack, we will be even better-positioned to help clients architect their platform-led AI systems and operationalize them at scale,” said Cognizant CEO Ravi Kumar S.

Surya Gummadi, President of Cognizant Americas added, “AI data center investment is a critical path for future economic and job growth, especially in the U.S., where data centers and related high-tech investment activities were estimated to account for 80% of private domestic demand growth in the first half of 2025, and hyperscaler capital spending is now nearing $400 billion annually, with each direct data center job supporting more than six jobs elsewhere in the economy. Effective and credible scaling of AI infrastructure, including data centers, requires deep context and AI builder expertise. We expect the acquisition of Astreya will meaningfully expand Cognizant’s AI Infrastructure capabilities and enhance our powerful ‘Magnificent Seven’ hyperscaler relationships.”

Astreya’s AI OpsHub, with modules for readiness assessment, signal intelligence, analytics, and agentic automation, gives Cognizant a ready-built operations engine already generating measurable results. In addition to the Tech Innovation Office, Astreya’s bespoke client AI solutions, extensive managed services capabilities and its ecosystem partnerships anchored by Google Cloud Platform and ServiceNow will become key assets within Cognizant’s global delivery infrastructure.

“Astreya has redefined what it means to be a trusted partner in the AI era, embedding intelligence into every solution, without losing the human connection that drives real results. Joining Cognizant is the natural next chapter for the Astreya global team and importantly, the clients who have trusted us to operate their most critical technology environments. We have spent the last several years making deliberate, disciplined investments in AI: building platforms, training specialists and fundamentally redesigning how managed services are delivered. We look forward to attacking the AI infrastructure era as a part of Cognizant!” said Romil Bahl, President and CEO, Astreya. 

The acquisition directly accelerates Cognizant’s transition into an AI builder, where the company is helping enterprises bridge the gap between AI infrastructure investment and business value by operationalizing and deploying interdisciplinary talent capable of operating AI systems at scale. Astreya is an operational managed services provider already providing managed services within environments operated by six of the hyperscalers, managing data center infrastructure, AI lab environments, enterprise networks, and workplace technology at hyperscaler scale, with nearly a decade of consecutive outcomes-based managed services delivery.

For Cognizant’s existing clients, the acquisition is expected to deliver proven AI operations capabilities – accelerators, platform IP and hyperscaler-hardened talent – that can be deployed immediately. For Astreya’s existing clients, Cognizant’s global scale and industry breadth is expected to unlock meaningfully expanded service capacity and accelerate the commercialization of emerging Enterprise AI Ops capabilities at a pace not achievable as a standalone managed service provider.

The acquisition is expected to close in the second quarter of 2026, subject to the receipt of required regulatory approvals and other closing conditions. Financial terms were not disclosed.

About Cognizant:
Cognizant (NASDAQ: CTSH) is an AI builder and technology services provider, building the bridge between AI investment and enterprise value by building full-stack AI solutions for our clients. Our deep industry, process and engineering expertise enables us to build an organization’s unique context into technology systems that amplify human potential, realize tangible returns and keep global enterprises ahead in a fast-changing world. See how at www.cognizant.com or @cognizant.

About Astreya:
Astreya is a global IT Managed Services provider that powers enterprises by designing, deploying, and managing complex technology environments. We deliver end-to-end solutions across hybrid cloud, data centers, network infrastructure, and the digital workplace. Intelligent automation and AI run through everything we build to drive efficiency, accelerate service delivery, and clear barriers to growth for our customers.

Advisors
Mayer Brown served as legal advisor to Cognizant. J.P. Morgan Securities LLC served as exclusive financial advisor and Latham & Watkins and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisors to Astreya.

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Forward-Looking Statements

This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which is necessarily subject to risks, uncertainties and assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, express or implied forward-looking statements relating to the business of Astreya, including the expected growth; the anticipated benefits of the proposed transaction, including anticipated benefits relating to synergies, new business opportunities, and growth; the expected timing of the transaction closing; the combined company’s plans, objectives, expectations, and intentions; projected AI data center investment; anticipated hyperscaler capital spending; and other statements that are not historical facts. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include the risk that the expected benefits from the transaction may not be fully realized or may take longer than anticipated to be realized; disruption to the parties’ businesses as a result of the announcement and pendency of the transaction; the ability to obtain required approvals of the transaction on the timeline expected, or at all, and the risk that such approvals may result in the imposition of conditions that could adversely affect us after the closing of the transaction or adversely affect the expected benefits of the transaction; reputational risk and the reaction of each company’s customers, suppliers, employees or other business partners to the transaction; the failure of the closing conditions in the transaction agreement to be satisfied, or any unexpected delay in closing the transaction or the occurrence of any event, change or other circumstances that could give rise to the termination of the transaction agreement; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; risks related to management and oversight of the expanded business and operations of Cognizant following the transaction; the risk that combining Astreya’s business and operations into Cognizant will be more costly or difficult than expected, or that we are otherwise unable to successfully integrate Astreya’s businesses with our own, including as a result of unexpected factors or events; and general competitive, economic, political and market conditions and other factors that may affect our future results or that of Astreya, including general economic conditions, the competitive and rapidly changing nature of the markets we compete in, the competitive marketplace for talent and its impact on employee recruitment and retention, our ability to successfully use AI-based technologies, legal, reputational and financial risks resulting from cyberattacks, changes in the regulatory environment, including with respect to immigration and taxes. Additional factors which could affect future results are discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.