Home Blog Page 525

Tradewind Finance Provides USD 2.5 Million Non-Recourse Export Factoring Facility to Vietnamese Cable Exporter

Receivables financing facility enables competitive open account terms and supports international growth

HO CHI MINH CITY, Vietnam, April 20, 2026 /PRNewswire/ — Tradewind Finance has provided a USD 2.5 million non-recourse export factoring facility to a cable manufacturer based in Vietnam. The facility, structured by Tradewind’s Shanghai office, converts export receivables into immediate liquidity and provides credit protection on buyers in the United States and Australia.

With this structure in place, the exporter maintains 90-day open account terms for its international buyers without placing pressure on working capital.

How Longer Payment Terms Strained a Manufacturer’s Liquidity

The client is a cable manufacturer with over 30 years of operating history in Vietnam. For most of that period, the company relied on advance payments and letters of credit to manage its export transactions.

As competition in global cable supply increased, buyers began requiring open account terms as a condition of continued business. The exporter transitioned accordingly, but the shift created a significant gap between production costs and the moment of payment collection.

The company had export credit insurance in place, which provided partial protection against buyer default. However, the residual risk exposure of 10 to 20 percent remained uncovered, and the insurance did not address the working capital shortfall that came with extended payment cycles. Despite a strong order book and established buyer relationships, the exporter’s cash position was under pressure.

How the Facility Works: Converting Receivables into Working Capital

Tradewind structured a non-recourse export factoring facility aligned with the client’s trade flows to the United States and Australia. The facility operates as follows:

  • Advance funding: Tradewind advances up to 90 percent of each invoice value shortly after shipment, converting receivables into available cash.
  • Credit protection: Because the facility is non-recourse, Tradewind assumes the buyer credit risk. By leveraging this structure, the exporter benefits from 100% credit protection against buyer default or insolvency.
  • Collections management: Tradewind manages the receivables administration and collection process, reducing the operational burden on the exporter’s finance team.

This structure replaces the partial protection previously offered by export credit insurance with a more comprehensive solution that covers both the financing gap and the full buyer credit risk on approved receivables.

What This Means for the Exporter

With the facility in place, the exporter can offer 90-day payment terms to its buyers without absorbing the cash flow impact internally. Production cycles are no longer constrained by the timing of buyer payments, and the company has a predictable source of liquidity tied directly to its shipment activity.

The non-recourse structure also removes a layer of financial uncertainty. Rather than relying on insurance with residual exposure, the exporter now operates with full credit coverage on approved buyers through Tradewind’s facility.

Why Tradewind Was Selected

Tradewind was selected for its ability to structure receivables financing solutions for cross-border trade flows involving multiple buyer markets. Key factors in the decision included:

  • Over 25 years of experience in international trade finance, with particular depth in export factoring across Asia, the Americas, and Europe
  • Local structuring capability through Tradewind’s Shanghai office, with direct knowledge of Vietnamese export markets
  • A financing structure tailored to the client’s specific trade corridors and buyer payment terms
  • Consistent execution and clear communication throughout the onboarding process

A Facility Built Around the Client’s Trade Flows

“This facility gives the client a reliable source of working capital tied directly to its export activity,” said Chris Chang, Regional Commercial Director, Far East at Tradewind Shanghai. “By structuring the solution around their specific trade flows to the United States and Australia, we were able to address both the financing gap and the credit risk exposure in a single facility.”

Facing Similar Pressure from Extended Buyer Payment Terms?

Tradewind structures receivables financing solutions for exporters managing cash flow across international trade corridors. Whether you are dealing with longer payment cycles, buyer credit risk, or the operational complexity of cross-border collections, we can help you find the right structure for your situation.

Contact us at www.tradewindfinance.com to discuss how a tailored trade finance solution can support your export business.

About Tradewind Finance

Founded in 2000, Tradewind Finance is a global trade finance company specialising in cross-border receivables financing, export factoring, supply chain finance, and credit protection. Tradewind maintains a network of offices across Bangladesh, Bulgaria, China, Hong Kong SAR, Hungary, India, Pakistan, Turkey, the United Arab Emirates, and the United States, alongside its headquarters in Germany. By combining financing, credit protection, and collections into a single integrated solution, Tradewind helps exporters and importers manage working capital, reduce risk, and grow their international trade with confidence.

Contact:
Yolanda(Xinyu) Qu – 
Marketing Manager, Far East
Tradewind International Factoring Ltd.
p:  +86 (021) 6031 9919

Agoda Report Highlights Opportunities for Japanese Hoteliers to Capture Asia’s Travelers as Only 34% Reach Advanced Localization

Insights from Agoda’s latest report highlight how moving beyond basic localization can drive stronger revenue outcomes as Japan sees rising intra-Asia travel demand

SINGAPORE, April 20, 2026 /PRNewswire/ — Digital travel platform Agoda, in its latest deep dive report “Tailored to Win: Mastering Localization to Capture Asia’s Travelers in Japan“, reveals opportunities for Japanese hotels to capture more value from Asia’s fast-growing travel demand, with only 34% of properties having progressed beyond basic localization strategies.

Among surveyed properties, 71% of hotels at early stages of localization report positive revenue outcomes, compared to all hotels that have implemented more advanced localization, showing that while early efforts are delivering results, a more holistic approach maximizes commercial outcomes.

According to the Japan National Tourism Organization (JNTO), the market welcomed over 42 million international visitors in 2025, a 16% year-on-year increase, with Asian travelers accounting for over 80% of all arrivals.[1]  With such a high concentration of regional travelers, tailored strategies are becoming essential for hotels looking to better capture Japan’s Asian visitor market.

Agoda’s report highlights that with around 7 in 10 visitors coming from just five key Asian markets (South Korea, China, Taiwan, Hong Kong, and Thailand), hotels need to move beyond one-size-fits-all strategies and tailor their offerings to the distinct preferences of each market, whether through localized digital payment options, language support or culturally relevant on-site experiences. Hotels that adopt this more integrated approach are already seeing results, with around 80% of surveyed hoteliers reporting improvements in bookings.

“Only 34% of hotels have reached advanced stages of localization today with real opportunity lying in accelerating these efforts across the guest experience,” said Tadashi Ikai, Senior Country Director for Japan at Agoda. “By closing gaps across payments, language, and cultural understanding, hotels can better connect with Japan’s highly concentrated Asian traveler base and turn this into a sustained competitive advantage.”

Despite the potential results, Japanese hotels face several challenges in advancing localization efforts. According to the report, hoteliers cite limitations in payment integrations and marketing resources (each at 51%) as key barriers, alongside gaps in foreign language capabilities and awareness of cultural norms (each at 49%). These constraints continue to slow the adoption of more advanced, market-specific strategies.

As Japan’s tourism landscape becomes increasingly shaped by regional travel, the ability to deliver culturally attuned and localized guest experiences is becoming a key differentiator. To help partners navigate these challenges, Agoda’s report includes targeted “Quick Wins” based on traveler motivations:

  • South Korean Travelers: Seeks cultural exploration and unique local experiences
  • Chinese Travelers: Spends more on experiences such as dining and activities rather than accommodation
  • Taiwanese Travelers: Strongly motivated by culinary exploration and wellness experiences
  • Hong Kong Travelers: Frequent, tech-savvy repeat visitors who value flexibility and convenience
  • Thai Travelers: Often travel in families and favor budget-conscious, short-haul getaways

Agoda’s digital suite for localization draws on a global network of over 6 million diverse accommodations across markets, enabling partners to better align their offerings with the preferences of different traveler segments. With support for 39 languages, multi-currency payment options, and 24/7 customer support, Agoda helps hotels deliver more seamless and locally relevant experiences. Dedicated programs such as the Agoda Growth Program for visibility in priority markets, country-specific promotions and Agoda Media Solutions for native-language campaigns further support partners in localizing effectively. Through Agoda’s platform and expertise, hotels can overcome barriers, reach new segments and optimize their returns from international demand.

To explore how practical localization tips and actionable insights can help hotels capture more value from Asia’s diverse traveler base, download the full report at https://ago-da.co/4bAITjm.

[1] Japan National Tourism Organization (JNTO) (2025), “Tourism Statistics Database – Inbound Travel to Japan (Annual Data 2025).”
Available at: https://www.tourism.jp/en/tourism-database/stats/inbound/

 

Nuance Pharma Announces Publication of Phase 3 ENHANCE-CHINA Data in the CHEST Journal

Ohtuvayre® (ensifentrine) helped improve lung function in Chinese adult patients in in data published in peer reviewed journal

SHANGHAI, April 20, 2026 /PRNewswire/ — Nuance Pharma (“Nuance” or the “Company”) announces that CHEST, the official journal of the American College of Chest Physicians, has published results from the Phase 3 ENHANCE-CHINA trial evaluating Ohtuvayre® (ensifentrine) in chronic obstructive pulmonary disease (“COPD”).

The publication reports results from Nuance’s successful ENHANCE-CHINA trial demonstrating improvements with ensifentrine in lung function and dyspnea, with a demonstrated safety profile. The manuscript, entitled “Efficacy and Safety of Ensifentrine in Chinese Patients with Chronic Obstructive Pulmonary Disease: The ENHANCE-CHINA Randomized Clinical Trial,” is available online here and will be published in an upcoming issue of CHEST. It follows the announcement of top-line data from the ENHANCE-CHINA trial in May 2025.

Data from the ENHANCE-CHINA program formed the basis of Nuance Pharma’s New Drug Application (“NDA”), which was submitted in December 2025 to the National Medical Products Administration (“NMPA”) for the approval of ensifentrine for the maintenance treatment of patients with COPD.

Ensifentrine is FDA-approved in the United States as maintenance treatment for adult patients with COPD with a selective dual inhibitor of the enzymes phosphodiesterase 3 and 4, combining bronchodilator and non-corticosteroid anti-inflammatory activities in one molecule. If approved in China, it is expected to be the first novel mechanism of action available for the treatment of COPD in more than 10 years.

Mark Lotter, founder and Chief Executive Officer of Nuance Pharma, said: “We are delighted to see the full results from our Phase 3 ENHANCE-CHINA trial published in CHEST, a highly respected peer-reviewed journal in pulmonary medicine. These data reinforce the robust clinical profile of ensifentrine, demonstrating meaningful improvements in lung function. With our New Drug Application already submitted and accepted for review by the NMPA, we are one step closer to bringing this first-in-class inhaled therapy to patients in China. We extend our sincere gratitude to the patients, investigators, and clinical site teams who made this program possible.”

In March 2026, Ohtuvayre was approved by the Hong Kong Drug Office under the “1+”mechanism. In February 2025, Ohtuvayre was approved by the Pharmaceutical Administration Bureau Macau, and was introduced in the Greater Bay Area in November 2025 through the “Hong Kong and Macau Medicine and Equipment Connect” policy and can be used in designated medical institutions. In January 2026, Nuance Pharma announced acceptance for review of the new drug application for Ohtuvayre by the National Medical Products Administration of China. In November 2024, Nuance Pharma launched Ohtuvayre in China’s Hainan Boao Pilot Zone through an early access program.

In 2021, Nuance Pharma entered into an agreement with Verona Pharma for the exclusive rights to develop and commercialize Ohtuvayre in Greater China (mainland China, Hong Kong, Macau and Taiwan).

In October 2025, Merck & Co., Inc., Rahway, N.J., USA, known as MSD outside the United States and Canada, announced the completion of the acquisition of Verona Pharma plc. MSD holds the exclusive rights to develop and commercialize Ohtuvayre in all markets outside of Greater China.

About the ENHANCE-CHINA Program

The randomized, double-blind, placebo-controlled study evaluated the efficacy and safety of nebulized ensifentrine as monotherapy and added onto either a LAMA or a LABA, or a LABA+ICS compared to placebo.

  • Patient Population: 526 moderate to severe, symptomatic, COPD patients at 46 sites in China.
  • Dose/Duration: subjects were randomized to receive a 3mg nebulized dose of ensifentrine or nebulized placebo twice daily for 24 weeks
  • Primary Endpoint: Improvement in lung function with ensifentrine as measured by average FEV1 AUC 0-12 hours post dose at week 12.
  • Secondary Endpoints: lung function endpoints including peak and morning trough FEV1, COPD symptoms and health related quality of life through 24 weeks via SGRQ and E-RS, and exacerbation at 24 weeks, and others
  • Safety: Assessed over 24 weeks

Further information about the ENHANCE-CHINA program can be found at www.clinicaltrials.gov (NCT05743075).

About Ensifentrine (Ohtuvayre®)

Ohtuvayre® is the first inhaled therapy for the maintenance treatment of COPD in adult patients that combines bronchodilator and non-corticosteroid anti-inflammatory activities in one molecule. Ohtuvayre was evaluated in a Phase 3 clinical program ENHANCE (“Ensifentrine as a Novel inHAled Nebulized COPD thErapy”) for COPD maintenance treatment. Ohtuvayre met the primary endpoint in both ENHANCE-1 and ENHANCE-2, demonstrating statistically significant and clinically meaningful improvements in lung function.

Ohtuvayre Indication and Important Safety Information

INDICATION

Ohtuvayre is indicated for the maintenance treatment of chronic obstructive pulmonary disease (COPD) in adult patients.

IMPORTANT SAFETY INFORMATION

Contraindication: Ohtuvayre is contraindicated in patients with hypersensitivity to ensifentrine or any component of this product.

Warnings and Precautions:

Acute Episodes of Bronchospasm Ohtuvayre should not be used for the relief of acute symptoms, i.e., as rescue therapy for the treatment of acute episodes of bronchospasm. Acute symptoms should be treated with an inhaled, short-acting bronchodilator.

Paradoxical Bronchospasm As with other inhaled medicines, Ohtuvayre may produce paradoxical bronchospasm, which may be life threatening. If paradoxical bronchospasm occurs following dosing with Ohtuvayre, it should be treated immediately with an inhaled, short-acting bronchodilator. Ohtuvayre should be discontinued immediately and alternative therapy should be instituted.

Psychiatric Events Including Suicidality Before initiating treatment with Ohtuvayre, healthcare providers should carefully weigh the risk and benefits of treatment with Ohtuvayre in patients with a history of depression and/or suicidal thoughts or behavior. Patients, their caregivers, and families should be advised of the need to be alert for the emergence or worsening of insomnia, anxiety, depression, suicidal thoughts, or other mood changes, and if such changes occur to contact their healthcare provider. Healthcare providers should carefully evaluate the risks and benefits of continuing treatment with Ohtuvayre if such events occur.

Treatment with Ohtuvayre is associated with an increase in psychiatric adverse reactions. Psychiatric events including suicide-related adverse reactions were reported in clinical studies in patients who received Ohtuvayre (1 suicide attempt and 1 suicide). Additionally, the most commonly reported psychiatric adverse reactions in the pooled 24-week safety population were insomnia (6 patients [0.6%] Ohtuvayre 3 mg; 2 patients [0.3%] placebo), and anxiety (2 patients [0.2%] Ohtuvayre 3 mg; 1 patient [0.2%] placebo). Depression-related reactions including depression, major depression, and adjustment disorder with depressed mood occurred in 4 patients [0.4%] receiving Ohtuvayre and no patients receiving placebo.

Adverse Reactions: The most common adverse reactions ≥1% in Ohtuvayre and greater than placebo in the pooled population were back pain 1.8%, hypertension 1.7%, urinary tract infection 1.3%, and diarrhea 1.0%.

These are not all of the possible risks associated with Ohtuvayre.

Please see Prescribing Information for Ohtuvayre (ensifentrine) at: https://ohtuvayrehcp.com/wp-content/uploads/sites/2/2024/11/Ohtuvayre-US-Prescribing-Information.pdf, Patient Information for Ohtuvayre at: https://ohtuvayre.com/wp-content/uploads/2024/11/Ohtuvayre-US-Prescribing-Information.pdf.

About Nuance Pharma

Nuance Pharma is an innovation-focused biopharmaceutical company, with both late-stage clinical pipeline and commercial stage asset portfolio. Focusing on specialty care, Nuance has established a differentiated combination of commercialized assets and innovative pipeline across respiratory, pain management, emergency care and iron deficiency anemia. With the mission to address critical unmet medical needs in Asia Pacific, Nuance deploys the Dual Wheel model that develops a global leading innovative pipeline, while maintaining a self-sustainable commercial operation in both China and Asia as a region. For more information, please visit www.nuancepharma.com.

Forward-looking Statements

This news release may make statements that constitute forward-looking statements, including descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the business operations and financial condition of the Company, which can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, or other factors, some of which are beyond the control of the Company and are unforeseeable. Therefore, the actual results may differ from those in the forward-looking statements as a result of various factors and assumptions, such as future changes and developments in our business, competitive environment, political, economic, legal and social conditions. The Company or any of its affiliates, directors, officers, advisors or representatives has no obligation and does not undertake to revise forward-looking statements to reflect new information, future events or circumstances after the date of this news release, except as required by law.

From Tourism to Trade: Crowne Plaza Phu Quoc Starbay Sets the Stage for APEC 2027

PHU QUOC, Vietnam, April 20, 2026 /PRNewswire/ — With Phu Quoc confirmed as the host of the Asia-Pacific Economic Cooperation (APEC) summit in 2027, the island is drawing heightened interest from organisations seeking a Southeast Asia MICE destination that supports both strategic meetings and executive retreats. Designed to meet evolving demand, Crowne Plaza Phu Quoc Starbay is emerging as a compelling option for these groups, offering services ideal for MICE travel.

Offering facilities and services aligned with the growing demand, the resort features a range of flexible venues, including a 400-capacity grand ballroom, breakout rooms, and over 1,000 sqm of outdoor beachfront event space. Combined with the island’s improved infrastructure, convenient access via direct flights, and a favourable visa-free entry policy, the property is helping position Phu Quoc as a rising venue for high-level corporate gatherings in Vietnam.


Located on the tranquil Bai Dai Beach in the northwest of the island, Crowne Plaza Phu Quoc Starbay brings together unparalleled hospitality and services surrounded by top-tier natural wonders, from pristine, starfish-strewn beaches to a UNESCO Biosphere Reserve, countless entertainment options and two golf courses in the area, it offers unique incentive travel and team building experiences.

As a Phu Quoc event venue, the resort provides spaces, amenities, and services that are flexible yet professional. From corporate affairs to weddings, and group dinners to board meetings, dedicated MICE planning teams are assigned to provide meticulous coordination for a seamless and stress-free experience.


Versatile venues including a pillarless ballroom, can be transformed to host captivating occasions such as beachfront receptions, sunset cocktail soirées, and gala dinners by the sea, all with full banquet support. Further complementing these facilities, the resort’s exceptional dining and beachfront restaurant offer the perfect setting for group networking, with customisable menus featuring international and Asian cuisines.

Progressing from event to stay, the resort boasts 308 rooms, suites and villas, all complemented by daily buffet breakfast, as well as a spa, 24/7 fitness centre, and beachside amenities to unwind.


Backed by the global reputation and standards of IHG Hotels & Resorts and Crowne Plaza, the Meetings & Events Concierge Programme and signature Dare to Connect service—together with IHG Business Rewards—deliver dedicated expertise, exclusive offers and tailored incentives to elevate every event (subject to availability and terms).

For more information, visit  https://phuquoc.crowneplaza.com/meeting-events/.

48% of Singaporean Divers Unaware of Taiwan’s Dive Offerings: TTA at ADEX 2026


SINGAPORE – Media OutReach Newswire – 20 April 2026 – Most Singaporeans have already ticked off Taipei’s night markets and Alishan’s morning mists. But the real discovery is happening 30 metres beneath the surface. At ADEX (Asia Dive Expo) 2026 in Singapore, the Taiwan Tourism Administration (TTA) revealed a striking finding: 48% of surveyed Singaporean divers were unawared of Taiwan’s diving offerings—and 50% have never dived its waters. (Survey conducted on-site at ADEX 2026, with over 1,000 respondents.)

Just over four hours from Changi Airport. Visa-free entry. And almost entirely unexplored by Singapore’s diving community.

To close that gap, the Taiwan Pavilion returned for its second consecutive year, transforming the Suntec Convention Centre into a gateway to Taiwan’s four major aquatic frontiers. This year’s headline act: Green Island (Lyudao)—a volcanic gem rising from the Pacific that’s still well under the radar for most Southeast Asian travellers.

Green Island: Taiwan’s Most Underrated Dive Destination

Green Island is not just another dive site. Swept by the warm Kuroshio Current, the island delivers visibility that regularly exceeds 30 metres—a “liquid glass” effect that few dive sites in Southeast Asia can match.

  • The Ancient Guardian: Divers can encounter the “Big Mushroom,” a living coral structure believed to be over 1,000 years old—a humbling reminder of what the ocean can sustain when left in peace.
  • The World’s Deepest Postbox: At the Shilang Diving Area, you can mail waterproof postcards from the world’s deepest underwater mailbox (11 metres down). It’s the kind of quirky detail that makes travel worth talking about.
  • Dive by Day, Soak by Night: Green Island is home to the Zhaori Saltwater Hot Springs—one of the rare seawater hot springs globally. Trading your wetsuit for a poolside soak at sunset is the kind of contrast that turns a trip into a story.


Xiaoliuqiu: Taiwan’s Best Island Escape Off the Clock

Floating off the coast of Pingtung, this compact coral island is one of the few places on Earth where wild sea turtles are so at home, they’ve practically become locals—surfacing beside snorkelers with an ancient calm.

  • The Locals Who Never Leave: Xiaoliuqiu hosts one of Taiwan’s densest populations of green sea turtles. With a professional dive guide leading you beneath the surface, an underwater encounter with a creature that has outlived the dinosaurs becomes less a lucky sighting and more a near-certainty.
  • Dive by Day, Own the Night: When the sun drops, Xiaoliuqiu doesn’t go quiet—it shifts gear entirely. Night ecology tours reveal a different cast of creatures, and the evening ends not at a hotel bar but around a fire with fresh BBQ seafood under a sky with almost zero light pollution. That’s the kind of night that still feels real a week later.


Penghu: The Basalt Archipelago With a Coral Heart

Anchored in the Taiwan Strait and shaped by seasonal winds that have carved its basalt coastline for millennia, Penghu delivers a version of Taiwan that feels genuinely off-script—ancient, oceanic, and spectacular on its own terms.

  • The Bridge That Crosses the Sea: At nearly 2.5 kilometres, the Penghu Cross-Sea Bridge is the kind of infrastructure that earns its own mythology. Drive it at golden hour, with open water stretching in every direction, and a standard itinerary starts to feel like an expedition.
  • Taiwan’s Best-Kept Secret Island: Huching Islet—once named one of the world’s top ten secret islands—greets visitors with towering basalt columns, cats that outnumber people, and a pace of life that has no interest in catching up with the mainland. It’s 20 minutes by boat from Magong, and a different world entirely.
  • The Double Heart in the Sea: At the southern tip of the archipelago, Qimei Island’s twin stone fish traps curve into two interlocking hearts—built centuries ago by fishermen, now one of Taiwan’s most iconic images. The rare landmark that earns its reputation without trying.
  • The Coral That Grows Back: Penghu’s coral restoration programme lets travellers do something rarer than sightseeing—actively participate in reef recovery, planting coral fragments on underwater nurseries alongside marine biologists. The most meaningful souvenir you can’t bring home.


Sustainability: More Than a Trend

With 45.8% of surveyed divers aged 25–34 expressing strong interest in eco-conscious travel, the Pavilion put sustainable diving front and centre. World-renowned underwater photographer Yorko Summer appeared alongside conservationists Peggy (TurtleSpot Taiwan) and NT (Penghu Reef Restoration) to demonstrate how Taiwan is going beyond tourism rhetoric into genuine marine stewardship—3D-printed eco-substrates, sea turtle nesting patrols, and active reef monitoring. Singaporean divers aren’t just being invited to visit—they’re being invited to contribute.

World-Class Gear, Made in Taiwan

The Pavilion also shone a light on Taiwan’s homegrown dive industry. Brands including ATMOS, 123 Underwater Lab, and DIVEVERYDAY demonstrated that the “Made-in-Taiwan” (MIT) spirit extends well beyond electronics and manufacturing—into world-class dive technology ready for Singapore’s most discerning enthusiasts.

“Taiwan offers abundant and diverse travel resources, enabling visitors to experience mountains, ocean, cuisine, and culture within a single short trip.”

— Taiwan Tourism Administration, Singapore Office

As ADEX 2026 makes clear, Taiwan’s dive scene represents one of the most significant untapped opportunities in the Singaporean travel market. For divers looking for somewhere extraordinary—somewhere most of their friends haven’t been yet, just a short flight away—the Pacific has been keeping a secret.

It’s time to dive in.

Hashtag: #ADEX2026

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

CStone Presented Preclinical Data for Three Novel or Differentiated ADCs at AACR 2026, Including CS5007 (EGFR/HER3)

SUZHOU, China, April 20, 2026 /PRNewswire/ — CStone Pharmaceuticals (“CStone,” HKEX: 2616), an innovation-driven biopharmaceutical company focused on the research and development of therapies for oncology, immunology, inflammation, and other key disease areas, today announced that the Company presented the latest preclinical data for three proprietary pipeline assets at the American Association for Cancer Research (AACR) Annual Meeting (from April 17 to 22), including CS5007 (EGFR/HER3 ADC), CS5006 (ITGB4 ADC), and CS5008 (DLL3/SSTR2 ADC).

CStone’s Proprietary ADC Technology Platform

All three antibody-drug conjugates (ADCs) presented at AACR – CS5007 (EGFR/HER3 ADC), CS5006 (ITGB4 ADC), and CS5008 (DLL3/SSTR2 ADC) – are developed utilizing CStone’s proprietary ADC technology platform, which incorporates the following core features:

  • High Stability & Precise Payload Release: The platform utilizes CStone’s proprietary CSL20 linker, a hydrophilic construct designed for enhanced stability in circulation. Payload release is triggered selectively through a tandem cleavage mechanism involving the synergistic action of β-glucuronidase and cathepsin.
  • Potent Payload: Each ADC employs exatecan, a clinically validated and highly potent topoisomerase I inhibitor with a strong bystander effect and reduced sensitivity to multidrug resistance.

CS5007 – EGFR/HER3 Bispecific ADC

EGFR and HER3, members of the ErbB receptor family, are key oncogenic drivers frequently co-overexpressed across a variety of human epithelial malignancies. Although single-target EGFR therapies are widely utilized in standard-of-care treatments, adaptive resistance driven by compensatory HER3 signaling and heterodimerization substantially limits long-term clinical benefit. Therefore, dual targeting of EGFR and HER3 represents a highly promising strategy to overcome the tumor heterogeneity and resistance mechanisms that commonly compromise single-target approaches. CS5007 is designed to synergistically bind EGFR and HER3, which form extensive dimerization with other HER family members, thereby targeting almost all oncogenic HER-family receptor complexes (except HER2 homodimers) and effectively blocking the signaling cascades that promote tumor cell survival and proliferation.

CS5007 is a bispecific ADC comprising: 1) an anti-EGFR and HER3 human IgG1 antibody; 2) CStone’s proprietary hydrophilic CSL20 linker; 3) exatecan (Exa), a clinically validated topoisomerase I inhibitor, as the payload, conjugated with a drug-to-antibody ratio (DAR) of approximately 4.

Key Highlights:

1. Superior Molecular Stability

CS5007 demonstrates excellent stability in in vitro plasma stability tests, outperforming DS-8201 (trastuzumab deruxtecan) benchmark. After 7 days of incubation in plasma, free payload release was below 0.5%, indicating a low risk of off-target toxicity.

2. Dual Signaling Pathway Blockade

Western blot analysis was used to assess the signal-blocking capability of J17 (the naked antibody of CS5007) across various human tumor cell lines under a continuous stimulation microenvironment simulated by ligands (TGF-α/EGF and/or NRG1 β1). By dually targeting EGFR and HER3, CS5007 achieves potent inhibition of downstream signaling cascades, including the Akt and MAPK pathways. This dual blockade overcomes the inherent limitations and resistance mechanisms associated with single-target inhibition. Compared to SI-B001 (the naked antibody of BL-B01D1), CS5007’s antibody (J17) demonstrates superior inhibitory potency. Notably, while SI-B001 fails to interrupt HER3/Akt signaling in A431 and FaDu cells, J17 effectively abrogates these signals even under ligand-stimulated conditions.

3. Rapid and Deep Internalization

Using the Incucyte® Real-Time Live-Cell Imaging, the internalization profile of CS5007 was evaluated in A431, BxPC-3, FaDu, SW620 and MDA-MB-468 cells with pH sensor dye. CS5007 was efficiently and rapidly internalized across all tested tumor cell lines in a concentration-dependent manner and efficiently trafficked to the lysosome. Similar results were observed for the naked antibody J17. Notably, in SW620 cells with low EGFR expression, CS5007 maintains efficient drug delivery through the HER3-mediated internalization pathway.

4. Potent and Broad-Spectrum In Vitro Anti-Tumor Activity

In vitro cytotoxicity was evaluated using CellTiter-Glo® (CTG) luminescent assay across 6 human tumor cell lines. CS5007 exhibits potent, nanomolar-level, antigen-dependent cell-killing activity across a broad spectrum of tumor cell lines, including non-small cell lung cancer (NSCLC), squamous cell carcinoma (SCC), colorectal cancer (CRC), squamous cell carcinoma (SCCHN), pancreatic cancer (PANC), and breast cancer (BC).

5. Significant Bystander Killing Effect

The bystander effect of CS5007 was assessed using a co-culture system of NCI-H1568 cells (antigen-positive, Ag+) and NCI-H524 cells (antigen-negative, Ag-) by CTG and flow cytometry (FCM) assays. In mono-culture systems, CS5007 induced cytotoxicity on H1568 cells, but not on HCI-H524 cells. In the co-culture system, CS5007 eliminated not only antigen-positive (NCI-H1568) tumor cells but also adjacent antigen-negative (NCI-H524) tumor cells, demonstrating an ability to address tumor heterogeneity and expand the therapeutic range.

6. Broad-Spectrum In Vivo Anti-tumor Activity and Breakthrough in Resistant Models

  • CS5007 inhibited tumor growth in cell line-derived xenograft (CDX) models derived from multiple tumor types, including NSCLC, CRC, BC, SCCHN, and SCC.
  • CS5007 was effective in the osimertinib-resistant H1975 model (EGFR C797S mutation).
  • In the SW620 model with low EGFR expression and high HER3 expression, CS5007 achieved tumor clearance, whereas the comparator BL-B01D1 showed no meaningful activity.

7. Favorable PK/PD Profile

CS5007 demonstrated a superior pharmacokinetics (PK) / Pharmacodynamics (PD) profile compared to BL-B01D1 in the FaDu CDX model:

  • Greater potency: At 5 mg/kg, exposure (AUC) was comparable between the two ADCs, but tumor regression in the CS5007 group was significantly greater than that in the BL-B01D1 group (p < 0.05).
  • Longer half-life: CS5007 maintained a half-life of approximately 20 hours across dose levels, compared to approximately 10 hours for BL-B01D1 at 5 mg/kg.

8. Favorable Safety and Tolerability

  • In non-human primates (NHPs), CS5007 demonstrated favorable metabolic stability consistent with other EGFR-targeting agents, with a half-life of approximately 2 days. In human FcRn transgenic mice, the half-life was approximately 2.5–8 days.
  • Controllable toxicity: GLP toxicology studies determined the highest non-severe toxic dose (HNSTD) to be 30 mg/kg.

Safety window: No lethal toxicity was observed. Skin toxicity occurred only at the high-dose level. Overall, the safety profile appears manageable with a broad therapeutic window.

9. Phase I Clinical Trial Plan

CStone plans to initiate the Investigational New Drug (IND) application for CS5007 in the first half of 2026. The planned CS5007-101 study will be a monotherapy dose-escalation and expansion study designed to evaluate safety and recommended phase II dose (RP2D) in patients with advanced solid tumors. The study plans to enroll approximately 70 adult patients with advanced solid tumors who have progressed on or are ineligible for standard treatment or have no effective treatment options.

In summary, CS5007 is a highly promising bispecific ADC that demonstrates potent anti-tumor activity alongside a favorable safety and PK profile. Preclinical findings indicate that CS5007 binds with exceptional affinity, triggers rapid internalization across tumors with diverse EGFR and HER3 expression, effectively blocks dual downstream signaling pathways, and exhibits robust bystander-mediated tumor growth inhibition. These data provide a strong rationale to advance CS5007 into clinical investigation in solid tumors.

CS5006 – ITGB4 Targeting ADC

Integrin β4 (ITGB4) exclusively pairs with Integrin α6 (ITGA6) to form the α6β4 heterodimer, a receptor for the basement membrane protein laminin. ITGB4 is highly expressed on the surface of various solid tumors, including CRC, NSCLC, HNSCC and ESCC, while its expression in normal tissues is low. Distinct from other β integrins, ITGB4 features a unique 1,000-amino acid cytoplasmic domain that may facilitate a rapid antigen turnover. Furthermore, ITGB4 integrates with and amplifies key signaling cascades—including ErbB2, PI3K, FAK/Akt, and c-Met—thereby driving tumor progression. It also upregulates the expression of PD-L1 and mediates anti-PD-1 resistance via MEK/ERK signaling.

CS5006 is a novel ADC targeting ITGB4, composed of a humanized anti-ITGB4 IgG1 antibody conjugated via a highly stable, hydrophilic CSL20 linker (with tandem-cleavage technology) to a clinically validated exatecan payload, with an average DAR of 4.

Key Highlights:

1. Superior Molecular Stability

The linker-payload system of CS5006 demonstrates superior in vitro plasma stability to GGFG-DXd-based model ADCs targeting ITGB4, with less than 0.6% free payload released after 7 days of incubation in human or monkey serum, indicating a low risk of off-target toxicity.

2. Rapid and Deep Internalization

CS5006 triggers rapid and deep internalization on ITGB4-positive tumor cells.

3. Potent and Specific In Vitro Anti-tumor Activity

CS5006 exhibits nanomolar-level, antigen-dependent cytotoxic activity against tumor cell lines with high ITGB4 expression and sensitivity to exatecan in vitro. Its killing potency is significantly positively correlated with the expression level of ITGB4 on the tumor cell surface.

4. Significant Bystander Killing Effect

CS5006 demonstrates an excellent bystander killing effect. Supernatants from ITGB4-positive tumor cells incubated with CS5006 induced significant cytotoxicity in ITGB4-negative tumor cells.

5. Broad-Spectrum and Deep In Vivo Anti-Tumor Activity

CS5006 demonstrated potent and broad-spectrum tumor growth inhibition (TGI) activity in CDX models covering multiple tumor types, including NSCLC, BC, CRC, SCCHN, urothelial cancer (UC), ESCC, and gastric cancer (GC).

6. Favorable PK Profile and Safety

In NHPs, CS5006 exhibits a favorable PK and safety profile, with a half-life of approximately 3.5 days and a tentative HNSTD of 45 mg/kg.

CS5006 is a highly promising first-in-class ADC targeting ITGB4, combining broad-spectrum and potent anti-tumor activity with favorable safety and PK profiles. Preclinical studies have demonstrated rapid, deep internalization and potent, specific killing of ITGB4-positive cells, with bystander-mediated elimination of ITGB4-negative cells, thereby exhibiting broad-spectrum and robust in vivo anti-tumor activity in xenograft models. In NHPs, CS5006 exhibits a favorable HNSTD and half-life. Furthermore, it also demonstrates impressive CMC profiles, including high antibody yield, strong ADC stability, and favorable developability. Collectively, the preclinical data provide strong support for the clinical development of CS5006.

CStone expects to initiate the IND application for CS5006 in the second half of 2026.

CS5008 – SSTR2/DLL3 Bispecific ADC

DLL3 and SSTR2 are both highly overexpressed in small cell lung cancer (SCLC) and neuroendocrine tumors/carcinomas (NETs/NECs). DLL3 is overexpressed in more than 70% of SCLC and 64% of NECs patients, while SSTR2 is overexpressed in over 50% of SCLC and approximately 90% of G1/G2 NETs patients Therefore, dual targeting of SSTR2 and DLL3 holds great promise for overcoming intra- and inter-tumoral heterogeneity in SCLC and NETs/NECs, potentially improving efficacy and broadening the addressable patient population. Despite initial high sensitivity to chemotherapy and/or radiotherapy, most SCLC patients develop therapeutic resistance within one year. Accumulating evidence highlights that the heterogeneity and plasticity of SCLC are closely associated with the development of distant metastases and chemoresistance, which remain major obstacles to improving clinical outcomes.

CS5008 is a bispecific ADC constructed with: 1) an anti-DLL3 and SSTR2 human IgG1 antibody; 2) CStone proprietary hydrophilic CSL20 linker; 3) exatecan (Exa) as payload, conjugated with a DAR of approximately 4.

Key Highlights:

1. Excellent In Vitro Serum Stability

CS5008 demonstrated excellent stability in both human and cynomolgus monkey serum. After 7 days of incubation at 37°C, the toxin release rate was below 0.5%.

2. Rapid and Deep Internalization

CS5008 triggers rapid and deep internalization on SSTR2- and/or DLL3-positive tumor cells.

  • Specificity: In transgenic cells overexpressing DLL3 or SSTR2, CS5008 and its antibody exhibited significant antigen-dependent internalization.
  • Superiority: In SCLC tumor cells, CS5008 and its antibody induced significantly higher rates of internalization compared to their mono-specific ADC counterparts.

3. Potent and Antigen-Dependent In Vitro Killing Activity

CS5008 efficiently and specifically kills tumor cells expressing DLL3 or SSTR2 antigens, and the killing effect is significantly positively correlated with the expression level of the antigens (SSTR2+DLL3).

4. Broad-Spectrum and Potent In Vivo Anti-Tumor Activity

In SCLC CDX models, CS5008 demonstrated potent and broad-spectrum anti-tumor effects. A single dose induced tumor regression in various tumor models with different antigen expression levels. Notably, CS5008 outperformed DLL3-CSL20-Exa in the H446 (DLL3 negative SCLC) CDX model, indicating its potential to overcome tumor heterogeneity.

5. Favorable PK and Safety Profile

CS5008 exhibited a favorable PK profile in cynomolgus monkeys:

  • Long half-life: Approximately 14 days, indicating good stability.
  • Broad safety window: Provisional HNSTD of 60 mg/kg, with no lethal toxicity observed.

6. Potential New Strategy to Overcome Subtype Switching Resistance

By simultaneously targeting both antigens, CS5008 can effectively address the resistance challenge induced by treatment-driven molecular subtype switching in SCLC (e.g., from SCLC-A to SCLC-N).*

  • Subtype switching occurred in ~50% of patients during therapy.[1]
  • Recent data: 75% (3/4) of SCLC-A converted to SCLC-N vs. 100% (2/2) of SCLC-N stability.[1]
  • SCLC-N exhibits NEUROD1-driven SSTR2 overexpression.[1], [2]
  • A bispecific DLL3/SSTR2-ADC may therefore offer a promising strategy to overcome resistance resulting from therapy-induced subtype switching.

Notes. *: Yoshida T. WCLC, 2025; 1: Chiang CL et al. Lung Cancer. 2024 Feb; 2: Heeke S et al. Cancer Cell. 2024 Feb 

CS5008 is a highly promising bispecific ADC with broad-spectrum, potent anti-tumor activity and favorable safety and PK profiles. Preclinical studies demonstrate that via rapid and deep internalization, CS5008 enables efficient and specific killing of tumor cells with varying DLL3 and SSTR2 expression and exhibits broad, robust in vivo anti-tumor activity in xenograft models. In NHPs, CS5008 displays favorable tolerability and excellent PK properties. Furthermore, CS5008 features high antibody yield, strong ADC stability, and good developability. Collectively, these data support advancing CS5008 into IND-enabling studies and subsequent clinical evaluation for solid tumors including SCLC, NECs, etc.

CStone plans to initiate the IND application for CS5008 in the second half of 2026.

About CStone

CStone (HKEX: 2616), established in late 2015, is an innovation-driven biopharmaceutical company focused on the research and development of therapies for oncology, autoimmune/inflammation, and other key disease areas. Dedicated to addressing patients’ unmet medical needs in China and globally, the Company has made significant strides since its inception. To date, the Company has successfully launched 4 innovative drugs and secured approvals for 21 new drug applications covering 9 indications. The company’s pipeline is balanced by 16 promising candidates, featuring antibody-drug conjugates (ADCs), multispecific antibodies, immunotherapies and precision medicines. CStone also prides itself on a management team with comprehensive experiences and capabilities that span the entire drug development spectrum, from preclinical and translational research to clinical development, drug manufacturing, business development, and commercialization.

For more information about CStone, please visit: www.cstonepharma.com.

Forward-looking statements

The forward-looking statements made in this article only relate to events or information as of the date when the statements are made in this article. Except as required by law, we undertake no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. You should read this article completely and with the understanding that our actual future results or performance may be materially different from what we expect. All statements in this article are made on the date of publication of this article and may change due to future developments.

Disclaimer: only for communication and scientific use by medical and health professionals, it is not intended for promotional purposes.

LOTTE rent-a-car, Korea’s No.1 Brand, Proposes Busan Road Trip Routes for Global Travelers

  • LOTTE rent-a-car proposes road trip routes—introducing 3 courses: Busan City, South Coast, and Gyeongju
  • Operates 3 branches at Busan Station, Gimhae Airport, and Haeundae—all accessible within 3 minutes on foot
  • Convenient booking via 9-language website and global partner platforms—fully maintained vehicles with comprehensive insurance

SEOUL, South Korea, April 20, 2026 /PRNewswire/ — LOTTE rent-a-car, Korea’s No.1 car rental brand, is introducing road trip routes for tourists visiting Busan, South Korea, in time for the spring travel peak season.

Busan, Korea’s second-largest city, is a global tourism destination that welcomed over 3.6 million foreign visitors last year. The port city offers a uniquely dynamic atmosphere filled with attractions including shopping, culinary experiences, and marine activities. With major landmarks spread along the coastline, a rental car is essential to fully experience the city’s charm in every corner.

■ Road Trip Routes to Enjoy the Charms of Busan City, South Coast, and Gyeongju

The first route is a drive that combines seaside and urban experiences. Starting from Busan Station and crossing Gwangan Bridge, you’ll see Busan’s spectacular skyline unfold, along with stunning views of Haeundae Beach’s expansive white sands. Continuing along the coastal road, the magnificent scenery of Haedong Yonggungsa Temple awaits, perched on a clifftop. Haedong Yonggungsa is a Buddhist temple built on a seaside cliff. Visitors can enjoy the exotic experience of walking through the temple grounds while listening to the sound of waves.

For those wanting to escape the city and immerse themselves in the natural beauty of the South Sea, the archipelago route is recommended. Tongyeong Harbor, known as “Korea’s Naples,” offers the distinctively tranquil scenery characteristic of the southern coast. Driving along the coastal road with the sea breeze creates a sense of peace and relaxation. The ever-changing ocean views along the winding coastline are the highlight of this route.

The final option encompasses both history and nature in the vicinity of Busan—Gyeongju. In Gyeongju, where the entire city is an open-air museum, you can enjoy serene drives passing between historical sites. The lush forest road from Bulguksa Temple, featuring 8th-century Silla Buddhist architecture, to Seokguram Grotto, a cave temple housing magnificent Buddha statues, is perfect for driving. On the return journey to Busan, the route along the East Coast heading down toward Ulsan recommended.

■ Service Benefits and Discounts for Customers Using LOTTE rent-a-car’s Gimhae Airport, Busan Station, and Haeundae Branches

LOTTE rent-a-car operates a total of three branches at key gateways to Busan travel: Gimhae Airport, Busan Station, and the popular tourist destination of Haeundae. All branches are located within 1-3 minutes on foot, offering excellent accessibility. There’s no need to haul heavy luggage—travelers can pick up their vehicle immediately upon arriving by plane or train and begin their journey right away.

The free one-way return service operating between Gimhae Airport, Busan Station, and Haeundae branches offers even greater travel flexibility. For example, you can arrive in Busan by train, rent a vehicle, tour Busan and the South Sea area, then return the vehicle at your final destination of Gimhae Airport and depart immediately. This service can be easily arranged through advance reservation.

Additional convenience services make travel even more comfortable. All drivers receive complimentary English GPS navigation, and car seat rental service is available for families traveling with infants. Notably, the Busan Station branch maintains the largest inventory of car seats among rental car companies in Busan, making it the optimal choice for family travelers. Considering the challenging parking conditions in the area, the Haeundae branch also offers a benefit of free parking lot access to customers who request parking in advance, limited to vehicles rented from that branch.

Visitors to Busan this spring can enjoy partnership discounts at popular tourist attractions in Busan and Gimhae. Simply present your vehicle key without any complicated procedures to access major activities in Busan and nearby areas at discounted rates. Key benefits include: ▲Busan Tower (20% admission discount) ▲Arte Museum Busan (20% ticket discount) ▲Gimhae Nakdong River Rail Park (package discount), and more.

■ Proven Service from Korea’s No.1 Rental Car Company

LOTTE rent-a-car is Korea’s No.1 rental car operator. As of 2025, one in four short-term rental car customers is a foreign visitor, demonstrating the company’s proven global service capabilities. The company’s expertise has been recognized externally through partnerships with global brand Hertz, and as the only Korean company selected as a “Premier Partner” by travel platform Klook.

On-site, specialized foreign language consultation staff and dedicated service manuals minimize inconvenience for international customers. The official website (www.lotterentacar.net) supports a total of 9 languages including English, Chinese, and Japanese, facilitating smooth processes from reservation through contract management and consultation. Convenient booking is also available through major global partner platforms including Hertz, Booking.com, Klook, Trip.com, Discover Cars, and KKday.

Safety management is thorough. Professional mechanics holding national certifications constantly inspect all vehicles, and the nationwide network enables immediate response in case of accidents or breakdowns. Additionally, comprehensive insurance coverage services and a Collision Damage Waiver (CDW) system are in place to protect customers. Depending on the enrolled program, a zero deductible can be applied, providing an environment where travelers can focus solely on their journey without worry about accidents.

LOTTE rental, stated, “Busan is a world-class tourist destination with distinct charms that differentiate it from Seoul, and serves as a base camp for southern Korea road trips. We will continue to support global customers visiting Busan so they can enjoy the pleasure of travel without concerns about language barriers or safety.

Detailed information about the promotion can be found on LOTTE rent-a-car’s English websites and app. The app can be downloaded from the Google Play Store and the Apple App Store.

LOTTE rental is South Korea’s leading rental company, providing integrated rental solutions across all fields, including automobiles, office automation equipment and industrial equipment. Its subsidiary, LOTTE rent-a-car, holds the top market share in the domestic rental car industry and offers extensive mobility services to domestic and international customers through over 220 branches nationwide and a global partnership network. 

About LOTTE rental

LOTTE rental, the only comprehensive rental company in Korea, provides better value with various business portfolios, including auto mobility services that encompass car life, business solution services that support more effi¬cient businesses.

LOTTE rent-a-car is creating an innovative car life as the No.1 car rental brand. LOTTE rent-a-car G car, Korea’s  first car-sharing brand, is drawing a better mobility service.

LOTTE rental is moving forward as a mobility leader that connects customers’ precious lives.

For more information about LOTTE rental, please visit: https://www.lotterental.com/

EBANX announces expansion into four Southeast Asian countries and Turkey, unlocking a USD 610 billion digital market

Following the inauguration of its Asia-Pacific Headquarters in Singapore, EBANX brings its payments infrastructure to Thailand, Indonesia, Malaysia, Vietnam, and Turkey, opening access to more than 380 million consumers for global merchants

SINGAPORE, April 20, 2026 /PRNewswire/ — EBANX, a global technology company specializing in cross-border payment services for emerging markets, today announced it will begin operating in five new countries: Thailand, Indonesia, Malaysia, Vietnam, and Turkey. With this expansion, EBANX will have integrated payment methods across seven economies in Asia, including India and the Philippines. Combined, they represent a USD 610 billion opportunity in digital commerce and more than 1.1 billion consumers, according to data from Payments and Commerce Market Intelligence (PCMI) and World Data Lab (WDL) analyzed by EBANX. The five new markets alone account for 57% of that volume and 386 million of those consumers — whose spending is projected to grow 97% over the next decade, faster than regions like Europe, the US, and Canada, per WDL data featured in EBANX’s Beyond Borders 2026 study.

EBANX’s announcement follows a series of milestones in the region: the inauguration of its Asia-Pacific Headquarters in Singapore, a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), and the appointment of Eduardo de Abreu as Chief Product Officer (CPO) and regional CEO of EBANX Singapore.

“Asia is where the world’s fastest-growing consumer base is, and also where some of the most ambitious digital companies are headquartered,” said João Del Valle, Co-founder and CEO of EBANX. “Our investment in the region allows us to be closer to both. Global companies need local payment infrastructure to reach Asian consumers, and Asian companies need that same expertise to sell internationally. The opportunity runs in both directions.”

Among the five new EBANX’s additions, Vietnam is the fastest-growing digital commerce market, with a 22% compound annual rate through 2027, according to PCMI projections — rising from USD 36 billion to USD 44 billion. The others are not far behind. Indonesia will expand 19% over the same period, from USD 106 billion to USD 125 billion. Turkey’s 15% growth takes it from USD 123 billion to USD 142 billion. Malaysia and Thailand round out the group at 16% and 15%, respectively.

As global merchants look to diversify beyond established markets like the U.S., Europe, Brazil, and Mexico, cross-border demand in these economies is already waiting for them: international transactions account for 30% of e-commerce volume in Thailand and Malaysia, and 28% in the Philippines.

EBANX’s operations in Indonesia, Thailand, and Turkey are already available to merchants, with Malaysia and Vietnam set to follow in the next quarter. These operations will be fully supported by EBANX’s APAC HQ in Singapore.

A region that skipped the card era

Southeast Asia’s payment landscape is structurally distinct from other emerging markets. EBANX’s new countries of payment operations largely bypassed card infrastructure entirely, going from cash straight to e-wallets and account-to-account (A2A) transfers. Combined, those two methods account for 65% of e-commerce in Thailand, 61% in Indonesia, 50% in the Philippines, 35% in Malaysia, and 21% in Vietnam, according to PCMI.

“This did not happen by accident,” explained Eduardo de Abreu, Chief Product Officer and regional CEO of EBANX Singapore. “Southeast Asia has one of the youngest, most digitally fluent consumer populations in the world. Many of them got their first smartphone before they ever had a bank account, and certainly before they had a credit card. Digital wallets and instant transfers solved a real problem for a generation that was already living online.”

According to WDL data analysed by EBANX, Southeast Asia and India are the only regions where Generation Z holds the largest share of online spending across all verticals, at 27%. Elsewhere in Asia, Generation X leads at 30% — nearly double Gen Z’s 18% share.

How to reach local consumers

That payment landscape has become a barrier for global companies looking to scale in the region. According to an EBANX survey with its merchants, its fragmentation and low card usage often lead to performance issues that prevent them from reaching local consumers.

“The global companies we talk to about Southeast Asia are no longer asking about the region’s potential; they are asking how to unlock that potential and achieve high conversion rates,” said Abreu. “Our APAC Headquarters in Singapore gives us the regulatory anchor and the operational proximity to build country-by-country solutions that actually convert. We have been working toward this expansion for years, and the infrastructure is ready.”

Considering the seven Asian countries in EBANX’s portfolio, the company will have integrated more than 20 payment methods across the region. Among them are some of the most widely used alternative payment methods in each market, such as digital wallets and account-to-account (A2A) transactions—like bank transfers and QR-based paymentsas well as credit and debit cards.

ABOUT EBANX

EBANX is the leading technology platform connecting global businesses to the world’s fastest-growing digital markets. Founded in 2012 in Brazil, EBANX was built with a mission to expand access to international digital commerce. Leveraging proprietary technology, deep market expertise, and robust infrastructure, the platform enables global businesses to offer hundreds of local payment methods and streamline cross-border payments across Latin America, Africa, and Asia. With a global footprint, it established a technology and regulatory headquarters in Singapore in 2026. More than just payments, EBANX drives growth, enhances sales, and delivers seamless purchase experiences for businesses and end users alike.

For further information, please visit:
Website: https://www.ebanx.com/en/
LinkedIn: https://www.linkedin.com/company/ebanx

Media Contact:
Shan Huang
shan.huang@ahgstrategies.com