ABU DHABI, UAE, May 22, 2026 /PRNewswire/ — Sungrow, the globally leading PV inverter and energy storage system (ESS) provider, and Masdar, a global clean energy leader, have signed an agreement for the supply of Energy Storage System and PV inverter solutions for the UAE’s world-first gigascale round-the-clock renewable energy project (RTC).

Developed by Masdar and the Emirates Water and Electricity Company (EWEC), RTC combines 5.2GW of solar photovoltaic (PV) capacity with a 19GWh battery energy storage system (BESS), delivering baseload renewable energy at unprecedented scale.

Under the agreement, Sungrow will supply 7.5GWh of PowerTitan 3.0 ESS, alongside 2.6GW of PV inverter solutions, supporting the project’s operational reliability and efficiency.

Designed to help meet growing demand for uninterrupted clean power, the project will support a range of applications, including energy-intensive industries, business operations, residential communities and emerging digital infrastructure.

RTC represents a major advancement in the integration of solar PV and battery storage technologies at the utility scale. Once operational in 2027, it is expected to support the delivery of reliable clean energy around the clock while enhancing grid resilience and flexibility.

24/7 Renewable Energy Delivery

RTC will deploy more than 1,000 PowerTitan 3.0 liquid-cooled ESS integrated with advanced PV inverter technologies to support continuous power delivery and enhanced grid stability.

Each system operates on an optimized cycle of 8-hour charging and 16-hour discharging to support a stable and flexible renewable energy supply. Featuring an AC block design and rack-level management, the system is designed to enhance operational safety and efficiency.

Efficiency and Performance in Challenging Conditions

The system incorporates a fully liquid-cooled Silicon Carbide Power Conversion System (SiC PCS), achieving a maximum efficiency of 99.3 percent and a system RTE of 90 percent.

Designed for operation in demanding climates, the system can operate at temperatures of up to 55°C without derating, making it well suited to the UAE environment.

RTC reimagines the potential of renewable energy by overcoming intermittency. Once operational, it will produce gigascale baseload renewable energy at a globally competitive tariff for the first time. The project is designed to be a blueprint that can be replicated around the world.

About Sungrow

Sungrow, a global leader in renewable energy technology, has pioneered sustainable power solutions for over 29 years. As of Dec 2025, Sungrow has installed over 1000 GW of power electronic converters worldwide. The company is recognized as the world’s most bankable PV inverter and energy storage company (BloombergNEF). Its innovations power clean energy projects across the globe, supported by a network of 520 service outlets guaranteeing excellent customer experiences. At Sungrow, we’re committed to bridging to a sustainable future through cutting-edge technology and unparalleled service. For more information, please visit: www.sungrowpower.com/en

TAIPEI, May 22, 2026 /PRNewswire/ — Formosa Pharmaceuticals, Inc. announces that its abstract highlighting the differentiated binding profile and preclinical efficacy of TSY-310, a novel bispecific antibody-drug conjugate (ADC), has been selected for presentation at the American Society of Clinical Oncology (ASCO) Annual Meeting, to be held May 29 – June 2, 2026, in Chicago, Illinois.  TSY-310 simultaneously targets EGFR and ROR1, two receptors frequently co-expressed in prevalent solid tumors. By leveraging a unique bispecific modality, TSY-310 optimizes target engagement and intracellular delivery, facilitating a potent bystander effect to address the challenges of tumor heterogeneity.

Details

• Title: TSY-310, A Novel Bispecific EGFR x ROR1 ADC, Exhibits Potent Antitumor Activity in Heterogeneous Breast Tumors Through Enhanced Internalization and Bystander Cytotoxicity
• Session: Developmental Therapeutics: Molecularly Targeted Agents and Tumor Biology
• Date & Time: May 30, 2026, 1:30 pm – 4:30 pm CT
• Abstract Number: 3086
• Poster Number: 223
• Presenter: Dr. Kuo-Ming Yu, Ph.D., Director, CMC and Production

Highlights

• Superior Selectivity: Bispecific binding, enhancing internalization specifically in tumor cells co-expressing EGFR and ROR1.
• Enhanced Payload Delivery: Evidence of efficient lysosomal trafficking and the subsequent release of the cytotoxic payload.
• Bystander Efficacy: Eradication of neighboring antigen-negative tumor cells, a critical factor in treating complex, heterogeneous tumor environments.

“Our participation at ASCO is an acknowledgement of the program’s potential as a worthy contributor to the future oncology treatment landscape,” said Erick Co, President & CEO of Formosa Pharmaceuticals. “We are eager to place TSY-310 in the toolbox of oncologists and patients who face the evolving challenges with traditional single-target therapies.”

Full abstract and presentation details will be available through ASCO and corporate websites in accordance with the meeting’s policies.

About TSY-310: TSY-310 is a next-generation bispecific ADC targeting EGFR and ROR1. By achieving high-affinity target recognition through an efficient, simplified protein architecture, TSY-310 aims to provide a durable, “best-in-class” therapeutic option for patients with advanced solid tumors, including Non-Small Cell Lung Cancer (NSCLC).

About Formosa Pharmaceuticals, Inc.: Formosa Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to the development of high-impact therapeutics in ophthalmology and oncology. The company’s first product, a novel corticosteroid formulation approved by US FDA (BYQLOVI™) and Health Canada (CLOBIVIS™), offers rapid and durable relief of ocular inflammation and pain to patients recovering from ocular surgery. For more details about Formosa Pharmaceuticals, visit www.formosapharma.com.

WUHAN, China, May 22, 2026 /PRNewswire/ — From April 20 to 23, 2026, the event “Where the World Meets Jingchu: Chinese and International Cultural Figures Visit Hubei” took place in Wuhan and Jingzhou. More than 10 Chinese and international cultural figures from fields including public diplomacy, translation, and news media visited Wuhan and Jingzhou. They immersed themselves in Hubei’s historical heritage, cultural traditions, and technological innovations, and gained insight into the large-scale environmental protection of the Yangtze River and the transformation of urban industry. Together, they shared ideas on compellingly telling the stories of Hubei and the Yangtze River. The event was hosted the Hubei Media Group, the Yangtze River Culture International Communication Center, and the CICG Academy of Translation and Interpretation, and organized by the Hubei International Communication Center.

During the event, the Reference Guide for Translating Jingchu Cultural Terminology was officially released. Jointly compiled by the Hubei Media Group, the Yangtze River Culture International Communication Center, and the CICG Academy of Translation and Interpretation, the Guide systematically presents key elements of Jingchu culture, including Chu culture, Three Kingdoms culture, revolutionary heritage, Yangtze River culture, historical figures, cultural heritage, major national achievements, and modern technology. Featuring 50 representative cultural terms unique to Jingchu, the Guide serves both as a “dictionary” for translating Jingchu cultural symbols and as a practical tool for effectively telling the stories of Jingchu and Hubei to international audiences, enabling the world to better understand Jingchu and China through precise translation.

The delegation also visited the Hubei Provincial Museum, the Hubei Humanoid Robot Innovation Center, Voyah Automotive Technology Co., Ltd., the Jingzhou Museum, the Jingchu Intangible Cultural Heritage Skills Inheritance Institute, and the Shashi Wharf Cultural and Creative Park. Through these visits, the delegation explored the forefront of technological innovation, traced the lineage of Chu culture, and experienced the charm of intangible cultural heritage, gaining an immersive appreciation of Jingchu’s rich history, cultural character, and contemporary vitality.

The event aimed to promote the creative transformation and innovative development of Jingchu culture through exchanges and mutual learning with different civilizations.

Opening May 2026 in Damansara, this debut marks the start of Little Caesars Pizza expansion in Malaysia, with multiple new locations planned across the region.

KUALA LUMPUR, Malaysia, May 22, 2026 /PRNewswire/ — Little Caesars, the world’s third-largest pizza chain, is officially expanding to Malaysia, marking an exciting milestone in its global growth journey. The first Little Caesars restaurant in Malaysia is set to open on May 24, 2026 in Damansara, located at 39G, Jalan SS 21/37, Damansara Utama, 47400 Petaling Jaya, Selangor. Additional locations are expected to open in the following weeks, with a Grand Opening Celebration planned for July 2026 in Bandar Puteri Puchong.

Little Caesars Malaysia

Little Caesars entry into Malaysia introduces its iconic HOT-N-READY^® Classic Pepperoni Pizza and Crazy Puffs Pepperoni to a vibrant and diverse food scene, while also embracing local tastes with unique, regionally inspired menu items like the Chicken Hawaiian, 3 Cheese Edge to Edge, and Classic Veggie pizza.

“Launching in Malaysia marks an exciting milestone as we continue to grow our global footprint,” said Paula Vissing, President and Chief Executive Officer, Global Retail. “We’re thrilled to introduce Malaysian guests to our delicious offerings made with fresh ingredients and incredible value. With Malaysia’s dynamic food culture and strong sense of community, we’re excited to become part of this thriving market.”

Little Caesars is bringing its signature menu to Malaysia while also embracing local tastes, ensuring a balance of global favorites and flavors that resonate with the region. With a focus on freshness, bold flavor, and everyday convenience, the brand aims to become a go-to option for families, friends, and busy consumers alike.

The brand’s expansion into Malaysia is led by franchisees Dato’ Vincent Choo and Datin Cynthia Cheong, whose extensive industry experience and deep understanding of the local market position them well to grow the brand. As seasoned operators, they own and manage multiple QSR brands across the country, bringing a strong track record of operational excellence and market insight to Little Caesars continued growth in Malaysia.

“We’re proud to introduce Little Caesars to Malaysia and share its world-famous pizza with our community,” said Dato’ Vincent Choo and Datin Cynthia Cheong. “We believe there is strong demand for high-quality, affordable pizza, and we’re excited to bring something new and exciting to the local dining scene.”

With a focus on operational excellence and guest experience, the franchise team is committed to building the Little Caesars brand across Malaysia and delivering a consistent, high-quality product to every guest.

The Malaysia launch represents another key step in Little Caesars continued international expansion, as the brand brings its signature value and flavor to more communities around the world.

About Little Caesars^®

Little Caesars, the Best Value in Pizza, was founded by Mike and Marian Ilitch as a single, family-owned restaurant in 1959. It is the largest family-owned pizza company in the world, with restaurants in 31 countries and territories.

Known for its HOT-N-READY^® pizza, Crazy Puffs^®, and famed Crazy Bread^®, Little Caesars uses quality ingredients, like fresh, never-frozen mozzarella and Muenster cheese and sauce made from fresh-packed, vine-ripened California crushed tomatoes. The brand is known for innovation and is home to the exclusive Pizza Portal^® pickup, a heated, self-service mobile order pickup station.

A high-growth company with over 65 years in the $150 billion worldwide pizza industry, Little Caesars offers a simple operating system, a reputation for taste and value, and strong brand awareness with one of the most recognized characters in the country, Little Caesar. Little Caesars is proud to be part of the Ilitch Companies family of businesses.

For more, visit my.littlecaesars.com and follow Little Caesars Malaysia on Facebook, Instagram and TikTok.

Photo – https://laotiantimes.com/wp-content/uploads/2026/05/little_caesars_malaysia.jpg
Logo – https://laotiantimes.com/wp-content/uploads/2026/05/little_caesars_international_logo.jpg

At ASCO 2026, Lunit will present precision patient stratification and biomarker-driven oncology research through AI-powered HER2/IHC biomarker quantification and spatial tumor microenvironment analysis.

SEOUL, South Korea, May 22, 2026 /PRNewswire/ — Lunit, a leading provider of AI for cancer diagnostics and precision oncology, today announces that five studies featuring its AI biomarker platforms are being presented at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting, taking place May 29–June 2 in Chicago, IL.

This year’s presentations reflect Lunit’s expanding biomarker research beyond conventional immune profiling toward integrated AI-powered HER2/IHC biomarker quantification and spatial tumor microenvironment (TME) analysis. Using AI to characterize HER2 expression, immune phenotypes, tertiary lymphoid structures (TLS), tumor-infiltrating lymphocytes (TILs), and endothelial cells, the studies highlight the potential of integrated biomarker analysis to improve precision patient stratification across multiple cancer types.

The five presentations include studies across biliary tract cancer (BTC), non-small cell lung cancer (NSCLC), adenoid cystic carcinoma (ACC), microsatellite-stable (MSS), metastatic colorectal cancer and advanced gastric cancer (AGC).

One of the featured studies, led by researchers at Yonsei University College of Medicine, evaluates a first-line quadruplet regimen consisting of trastuzumab, nivolumab, gemcitabine, and cisplatin in HER2-positive advanced BTC. The study is selected as a Rapid Oral Presentation at ASCO 2026.

Using AI-powered whole-slide image (WSI) analysis, researchers analyze HER2 expression and immune phenotypes within tumor tissue. Among 40 patients enrolled in the multi-center phase Ib/II trial, the combination of therapy demonstrates an objective response rate (ORR) of 55%, disease control rate (DCR) of 95%, and median progression-free survival (PFS) of 10.6 months. Patients with HER2 IHC 3+ tumor cell proportions ≥10%, as identified by AI analysis, achieve substantially higher response rates compared to those below the threshold (80% vs. 36.4%). The study demonstrates how integrated AI-powered HER2 and spatial tumor microenvironment analysis may help identify patients more likely to benefit from HER2-targeted combination therapies.

Another study characterizes the tumor microenvironment landscape of HER2-overexpressing NSCLC using AI-powered spatial analysis. Across more than 2,000 NSCLC whole-slide images, HER2-overexpressing tumors demonstrate significantly reduced tumor-infiltrating lymphocyte density and lower proportions of inflamed immune phenotype compared to non-overexpressing tumors. The immune-cold phenotype becomes more pronounced in tumors with higher proportions of HER2 3+ cells. The study provides additional insight into the biological relationship between HER2 overexpression and tumor immune status, while highlighting the broader potential of combining AI-powered HER2 analysis with spatial tumor microenvironment characterization in biomarker research.

Another featured study, conducted with Seoul National University Hospital, explores AI-powered spatial tumor microenvironment analysis in adenoid cystic carcinoma (ACC), a rare cancer with limited treatment options. Researchers identify a subgroup of ACC patients with high endothelial cell and tumor-infiltrating lymphocyte (TIL) densities who demonstrate significantly prolonged progression-free survival following axitinib treatment (19.6 months vs. 11.1 months). The findings suggest that AI-based spatial profiling may help distinguish responder populations that are difficult to stratify using conventional biomarkers alone.

Researchers at Asan Medical Center investigate AI-powered tumor microenvironment analysis in MSS metastatic colorectal cancer, which is generally considered resistant to immune checkpoint inhibitors (ICIs). Researchers find that patients with larger tertiary lymphoid structure (TLS) regions identified by AI demonstrate improved progression-free survival and overall survival following immunotherapy. The findings highlight the potential of AI-powered spatial analysis to identify MSS colorectal cancer patients more likely to benefit from immunotherapy.

“These studies demonstrate how AI-powered biomarker analysis is evolving beyond conventional immune profiling toward integrated HER2/IHC quantification and spatial tumor microenvironment analysis,” said Brandon Suh, CEO of Lunit. “We believe integrated biomarker analysis will play an increasingly important role in precision oncology research, patient stratification, and treatment-response assessment.”

Lunit will be exhibiting at ASCO 2026, where attendees can learn more about the company’s AI biomarker platforms and research collaborations.

###

Lunit’s featured AI biomarker studies at ASCO 2026 include:

 [Poster #8545/335] AI-powered characterization of the tumor microenvironment landscape in HER2-overexpressing non-small cell lung cancer  

About Lunit
Founded in 2013, Lunit (KRX: 328130) is a global leader on a mission to conquer cancer through AI. Our clinically validated solutions span medical imaging, breast health, and biomarker analysis—empowering earlier detection, smarter treatment decisions, and more precise outcomes across the cancer care continuum.

Lunit offers a comprehensive suite spanning risk prediction and early detection to precision oncology. Our FDA-cleared Lunit INSIGHT Breast Suite and breast health solutions support cancer screening in thousands of medical institutions worldwide, while the Lunit SCOPE platform is used in research partnership with global pharma and laboratory leaders for biomarker research, and companion diagnostic development.

Trusted by over 10,000 sites in more than 65 countries, Lunit combines deep medical expertise with continuously evolving datasets to deliver measurable impact—for patients, clinicians, and researchers alike. Headquartered in Seoul with global offices, Lunit is driving the worldwide fight against cancer. Learn more at lunit.io.

Webull reports another strong quarter of growth, marked by record trading volumes and strong net deposits despite challenging market environment. Webull will continue to invest behind strategic priorities, including enhanced offerings for its active traders user base, international expansion to export the U.S. retail experience globally and continued adoption by institutional investors and B2B partners

ST. PETERSBURG, Fla., May 22, 2026 /PRNewswire/ — Webull Corporation (NASDAQ: BULL) (“Webull” or the “Company”) today announced financial and operating results for the first quarter ended March 31, 2026.

“I’m proud to report a strong start to our second year as a public company and meaningful progress in enhancing, expanding and extending our leading-platform for self-directed active traders,” said Anthony Denier, Group President and U.S. CEO of Webull. “We continue to innovate in AI, including beta-testing for our Vega Analyst, which will bring comprehensive research reports to our users, as well as launching agentic trading solutions on Webull. Our geographic expansion continues at a rapid pace, and we now have the license to operate across the European Economic Area, and we are deepening our presence in other markets across the globe. The demand from sophisticated, self-directed investors, including institutional and B2B clients, has never been greater and we are proud to be the platform of choice for our users and are committed to continuously improving the user experience while broadening our reach.”

“Webull continued to deliver in the first quarter of 2026, recording strong revenue growth and our sixth consecutive quarter of profitability on an adjusted basis,” said H.C. Wang, Chief Financial Officer of Webull. “We will continue to invest behind key growth drivers to further power our platform while prioritizing diligent execution and capital allocation priorities, including returning capital to shareholders through our previously announced share repurchase program.”

First Quarter Results

Financial Results                                                                                                    

• Total revenues increased 36% year-over-year to $159.9 million.
• Trading-related revenue increased 36% year-over-year.
• Total operating expenses increased 68% year-over-year, primarily driven by higher marketing and branding expenses, brokerage and transaction costs reflecting rapid growth in trading volumes and product expansion, and increased share-based compensation expense.
• Adjusted operating expenses increased 64% year-over-year to $145.1 million.
• Loss before income taxes totaled $12.8 million for the quarter, compared to income before taxes of $19.5 million for the prior year comparative quarter.  The decrease of $32.3 million in income was primarily due to increased share-based compensation expense, marketing and branding expenses and continued investment in our product and global expansion efforts.
• Adjusted operating profit totaled $14.8 million for the quarter, compared to $28.7 million for the prior year comparative quarter.
• Adjusted operating profit per share – basic and diluted was $0.03, compared with a basic and diluted adjusted operating profit per share of $0.21 and $0.06, respectively, in the prior year comparative quarter¹.
• Net loss attributable to the Company was $21.7 million for the quarter, compared to $13.1 million of net income for the prior year comparative quarter.
• Adjusted net income decreased to $9.2 million for the quarter, compared to $21.3 million for the prior year comparative quarter.
• Net Loss per ordinary share – basic and diluted was $0.04 per share, compared to basic and diluted loss per ordinary share of $0.06 per share for the prior year comparative quarter^[1].

Operating Results

• Customer assets totaled $24 billion, representing 90% year-over-year growth, driven by strong net deposits which grew 91% year-over-year despite a challenging market environment.
  Registered users increased 15% year-over-year to 27.6 million users.
• Funded accounts increased to 5.1 million, representing 8% year-over-year growth.
• Equity notional volume grew to $261 billion, representing a 104% year-over-year increase and an increase of 9% from the previous quarter.
• Options contracts volume grew to 159 million, a 31% year-over-year increase and an increase of 3% from the previous quarter.
• DARTs increased to 1.3 million, representing 42% year-over-year growth.

Company Highlights

• Developed Pattern Day Trader (“PDT”) infrastructure to be well-positioned for the increase in active trading expected from FINRA’s PDT rule change taking effect on June 4, 2026.
• In April, FINRA approved Webull Securities US for self and correspondent clearing, marking a pivotal step toward long-term cost savings and operational scale. This approval lays the groundwork for further growth by offering clearing services to institutional partners.
• Received permission to operate in all of the countries in the European Economic Area and launched the Webull App in Germany.
• Successfully developed and deployed Model Context Protocol (MCP) infrastructure functionality within Webull’s trading platform, establishing a secure, scalable foundation for integrating third-party agentic AI platforms.
• Began initial rollout of AI-enabled research analyst tool, bring comprehensive research reports to platform users.

Conference Call Information

Webull will host a conference call to discuss its results at 5:00 p.m. E.T. today, May 21, 2026. The conference call can be accessed at https://event.choruscall.com/mediaframe/webcast.html?webcastid=GOLJRG6O or participants may dial 1-844-744-1431 (U.S.) or 1-412-564-6518 (international).

Following the call, a replay and transcript will be available on the Company’s website at www.webullcorp.com/investor-relations, as well as the earnings press release and accompanying slide presentation.

About Webull Corporation 

Webull Corporation (NASDAQ: BULL) owns and operates Webull, a leading digital investment platform built on next-generation global infrastructure. Through its global network of licensed brokerages, Webull offers investment services in 15 markets across North America, Asia Pacific, Europe, Africa, and Latin America. Webull serves more than 27 million registered users globally, providing retail investors with 24/7 access to global financial markets. Users can put investment strategies to work by trading global stocks, ETFs, options, futures, fractional shares, and digital assets through Webull’s trading platform, which seamlessly integrates market data and information, its user community, and investor education resources. Learn more at www.webullcorp.com. You may also access certain information on Webull and its securities on the website of the U.S. Securities and Exchange Commission (the “SEC”) at http://www.sec.gov, where Webull will, among others, be filing reports, such as Reports on Form 6-K and its Annual Report on Form 20-F.

Contacts

For Investors
ir@webullcorp.com

For Media
5W Public Relations
Nicholas Koulermos
Webull@5wpr.com
(212) 999-5585

Use of Non-GAAP Financial Measures

We use adjusted operating profit, adjusted operating profit per share, adjusted net income, and adjusted operating expenses, all of which are non-GAAP financial measures, to evaluate our operating results and for financial and operational decision-making purposes. Adjusted operating profit represents income from continuing operations, before income taxes, excluding share-based compensation expenses, one-time transactions, and other expense (income), net. Adjusted operating profit per share represents adjusted operating profit divided by our weighted average shares outstanding on a basic and diluted basis. Adjusted net income represents net income attributable to the Company, excluding share-based compensation expenses, foreign currency transaction gains and losses, and one-time transactions. Adjusted operating expenses represent total operating expenses, excluding share-based compensation expenses and one-time transactions.

We believe that adjusted operating profit, adjusted operating profit per share, adjusted net income, and adjusted operating expenses help identify underlying trends in our business that could otherwise be distorted by the effect of certain expenses that we include in income before income taxes, net income, and total operating expenses. We believe that adjusted operating profit, adjusted net income, and adjusted operating expenses provide useful information about our operating results, enhances the overall understanding of our past performance and future prospects and allows for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.

Adjusted operating profit, adjusted operating profit per share, adjusted net income, and adjusted operating expenses should not be considered in isolation or construed as an alternative to income before income taxes, earnings per share, net income attributable to the Company, and total operating expenses or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to compare the historical non-GAAP financial measures to the most directly comparable GAAP measures. Adjusted operating profit, adjusted operating profit per share, adjusted net income, and adjusted operating expenses presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to our data. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.

For more information on these non-GAAP financial measures, please see the table captioned “Unaudited Quarterly Reconciliations of Non-GAAP and GAAP Financial Measures” set forth at the end of this press release.

Definitions

“Customer assets” refer to the sum of the fair value of all equities, ETFs, options, warrants, futures, digital assets and cash held by customers in their Webull brokerage accounts, net of customer margin balances, as of the record date. While customer assets are significantly impacted by mark-to-market valuations of customers’ investments and digital holdings, we consider customer assets an important metric as growth in customer assets generally leads to an increase in trading volumes and revenue.

“DARTs” refer to daily average revenue trades, which is the number of customer trades executed during a given period divided by the number of trading days in that period. DARTs provide us information on how active our customers trade.  A limitation of this metric is that it does not capture the size of the trade and revenue per trade varies significantly depending on size and type of trades.

“Equity notional volume” refers to the aggregate dollar value (purchase price or sale price as applicable) of trades executed over a specified period of time. Equity notional volume directly drives our equities trading revenue, as we earn payment for order flow or commissions for customers’ equities trades based on a percentage of notional value. However, equity notional volume is highly sensitive to market conditions in the short-term which makes predicting our equity trading revenue with precision difficult.

“Funded accounts” refer to Webull brokerage accounts into which the customer has made an initial deposit or money transfer, of any amount, whose account balance (which is measured as the fair value of assets in the customer’s account less the amount due from the customer) has not dropped to or below zero for 45 consecutive calendar days as of the record date. Funded accounts reflect unique customers, and multiple funded accounts by a single customer are counted as one funded account. Growth in our funded accounts provides insight as to the effectiveness of our marketing efforts and our ability to acquire monetizable customers. Funded accounts are positively correlated with, but are not determinative, of customer assets, trading volumes, and revenue.

“Options contracts volume” refers to the total number of options contracts bought or sold over a specified period of time. Options contracts volume directly drives our options trading revenue, as we earn payment for order flow or commissions for customers’ options trades on a per contract basis. However, options contracts volume is highly sensitive to market conditions in the short-term, which makes predicting our options trading revenue with precision difficult.

“Registered users” refer to those users who have registered on our platform but not necessarily have opened a brokerage account with one of our licensed broker-dealers. Growth in our registered users provides insight as to the popularity of the Webull App. While we do not generate revenue from registered users who do not have brokerage accounts with us, registering an account on the Webull App is the first step toward opening and funding a brokerage account with us.

Webull Corporation
Unaudited Quarterly Reconciliation of Non-GAAP and GAAP Financial Measures

Contra Revenue Impact

Most of our platform users are not considered customers under ASC 606, Revenues from Contracts with Customers (“ASC 606”), and promotional payments made to these platform users are accounted for as a marketing and branding expense. Conversely, for our platform users who have been determined to be customers under ASC 606, we account for these promotional payments as a reduction in revenue (i.e., “contra revenue”). The following presents how contra revenue impacted our revenues.

Quarterly Impact:

Statement Regarding Unaudited Financial and Operational Information

The unaudited financial and operational information included in this press release is subject to potential adjustments and is based on the information available to management at this time. Potential adjustments to operational and consolidated financial information may be identified from work performed during Webull’s preparation of financial statements subsequently hereto or its year-end audit. Information may also be presented differently from the information included herein in the future. This could result in significant differences from the unaudited or other historical operational and financial information included herein.

Cautionary Note Regarding Forward-Looking Statements
 

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this press release or other statements of the Company made in connection herewith, including, for instance, statements as to business strategy and plans, future results of operations and financial position, planned products and services, objectives of management for future operations or strategies of the Company, market size and growth opportunities, competitive position and technological and market trends, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “anticipate,” “expect,” “suggests,” “plan,” “believe,” “predict,” “potential,” “seek,” “future,” “propose,” “continue,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast” or the negatives of these terms or variations of them or similar terminology although not all forward-looking statements contain such terminology.

All forward-looking statements are based upon current estimates and forecasts and reflect the reasonable views, assumptions, expectations, and opinions of the Company and its management as of the date of this press release, and are therefore subject to a number of factors, risks and uncertainties, some of which are not currently known to the Company and its management and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to: (1) the ability of the Company to grow and manage growth profitably, maintain relationships and deepen engagement with users, customers and suppliers, and retain its management and key employees; (2) the reliance of key functions of the Company’s business on third-parties and the risk that the Company’s platform and systems rely on software and applications that are highly technical and may contain undetected errors that could result in unexpected network interruptions, failures, security breaches, or computer virus attacks; (3) the risks associated with the Company’s global operations and continued global expansion, including, but not limited to, the risks related to complex or constantly evolving political or regulatory environments that may result in substantial costs or require adverse changes to the Company’s business practices; (4) the Company’s estimates of expenses and costs, of profitability or of other operational and financial metrics as well as the Company’s expectations regarding demand for and market acceptance of its products and service; (5) the Company’s reliance on trading related income, including payment for order flow (“PFOF”), and the risk of new regulation or bans on PFOF and similar practices; (6) the Company’s exposure to fluctuations in interest rates, rapidly changing interest rate environments, volatile prices of securities and digital assets and their respective trading volumes; (7) the Company’s reliance on a limited number of market makers and liquidity providers to generate a large portion of its revenues, and the negative impact of the loss of any of those market makers or liquidity providers; (8) the effects of competition in the Company’s industry and the Company’s need to constantly innovate and invest in new markets, products, technologies or services to retain, attract and deepen engagement with users; (9) changes in international trade policies and trade disputes that could result in tariffs, taxes or other protectionist measures adversely affecting our business; (10) risks related to general political, economic and business conditions globally and in jurisdictions where the Company operates; (11) risk of further actions taken by various government bodies in the United States that have made the Company the subject of inquiries and investigations relating to concerns about our connections to China; (12) the risk that the failure to protect customer data and privacy or to prevent security breaches relating to the Company’s platform could result in economic loss, damage to its reputation, deter customers from using its products and services, and expose it to legal penalties and liability; (13) the risks associated with incorporating artificial intelligence technologies into certain of our products and processes, including potential regulatory, operational, reputational, or compliance challenges; (14) risks related to the Company’s need as a regulated financial services company to develop and maintain effective compliance and risk management infrastructures as well as to maintain capital levels required by regulators and self-regulatory organizations; (15) the ability to meet, or continue to meet, stock exchange listing standards; (16) the possibility of adverse developments in pending or new litigation and regulatory investigations; (17) risks relating to our offering of event contracts or prediction market products in the United States, including potential changes in regulatory interpretations or enforcement priorities; (18) risks related to significant disruptions in the cryptocurrency market that negatively impacts user engagement with cryptocurrency trading on our platform; (19) political, regulatory or economic changes that affect cryptocurrencies, including changes in the governance of a cryptocurrency; (20) risks related to the offer and resale of our securities, such as dilution from the issuance of additional Class A ordinary shares upon the exercise of warrants, and increased volatility, or significant declines, in the price of our securities based on increased trading activity and the perception that sales of our securities may occur; (21) risks relating to the Company’s share repurchase program under which the Company may repurchase up to $100 million of its Class A ordinary shares, including that the program may be suspended, modified or discontinued at any time, and that the actual amount, timing and manner of any repurchases will depend on market conditions, share price, applicable legal requirements, contractual restrictions and other factors; and (22) other risks and uncertainties that are more fully described in filings made, or to be made, by the Company with the SEC, including in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s filings with the SEC, such as the Company’s Annual Report on Form 20-F filed with the SEC on April 9, 2026. The foregoing list of factors is not exhaustive. Reported results should not be considered an indication of future performance. There may be additional risks that the Company and its management presently do not know about or that the Company and its management currently believe are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In light of these factors, risks and uncertainties, the forward-looking events and circumstances discussed in this press release may not occur, and any estimates, assumptions, expectations, forecasts, views or opinions set forth in this press release should be regarded as preliminary and for illustrative purposes only and accordingly, undue reliance should not be placed upon the forward-looking statements. The Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.