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From 0 to 100 Trillion: The Rise of Sanyou Bio’s Intelligent Molecule Library

SHANGHAI, Feb. 5, 2025 /PRNewswire/ — In the field of biopharmaceuticals, every technological innovation has the potential to revolutionize treatment strategies. Sanyou Bio’s Intelligent Hundred-Trillion Molecule Library (AI-STAL) has emerged from scratch as a shining star, forged through a decade of relentless effort — growing from weakness to strength — gradually building a vast and advanced technological system that paves a new path for drug discovery. The AI-STAL platform not only witnessed the rapid development of biotechnology, but also foreshadowed a new direction for future biopharmaceutical research.

2015: The Emergence of AI-STAL

The year 2015 marked the inception of Sanyou Bio’s technological journey, laying the foundation for its core technology platform. The R&D team devoted itself to the development of display vectors, ultimately establishing a proprietary system with independent intellectual property rights. This process was far from smooth — our scientists delved deeply into phage display technology, rigorously screened, modified, and optimized various plasmid vectors. Through countless experiments and refinements, they successfully constructed a unique phage display plasmid vector with an unparalleled sequence. This achievement not only ensured Sanyou Bio’s autonomy and independence at the technical level, but also laid a crucial foundation for subsequent breakthroughs. At the same time, Sanyou Bio demonstrated remarkable foresight in conceptual design of molecule libraries, proposing the designs for multi-pathway antigen libraries and diverse molecule libraries. At that time, the conventional approaches to antigen and molecule library construction were relatively simple and limited. Through the integration and innovation of multidisciplinary knowledge from immunology, molecular biology, and other disciplines, our research team envisioned a strategy to obtain antigens from multiple sources and built diverse molecule libraries, catering to the growing and varied needs of drug R&D.

2016: The Beginning of Commercialization

In 2016, Sanyou Bio took a significant step towards commercialization. The team successfully integrated hybridoma technology with phage display technology, creating a powerful synergy. Hybridoma technology is known for producing highly specific monoclonal antibodies but suffers from issues such as low screening efficiency. In contrast, phage display technology offers high-throughput screening capabilities. By combining the strengths of both methods, Sanyou Bio’s researchers developed an innovative approach: first generating preliminary specific antibodies using hybridoma technology, and then further screening and optimizing these antibodies through phage display technology, significantly improving the quality and screening efficiency of the antibodies. Based on this technology, the team also advanced the conceptual design of synthetic and semi-synthetic antibody libraries. By employing artificial synthetic and semi-synthetic approaches, the team innovatively constructed antibody libraries with increased diversity and specificity, further strengthening the company’s technological portfolio. In terms of commercial applications, Sanyou Bio became a pioneer in the commercial application of mouse immune libraries in China. We brought our independently developed mouse immune library to the market, providing efficient antibody screening tools for many research institutions and pharmaceutical companies. This breakthrough quickly earned Sanyou Bio a good reputation and growing influence within the industry.

2017: The Strengthening of the Technological Foundation

In 2017, Sanyou Bio focused on sharpening its technological foundation. In the conceptual design of the 100-billion-level fully human antibody library, the team conducted in-depth research on the structure and functional characteristics of fully human antibodies, integrating advanced gene synthesis and cloning technologies to envision the construction of a vast fully human antibody library at the sub-trillion level. Through extensive preliminary studies and experimental simulations, the construction strategy and technical route for the library were determined. Simultaneously, the conceptual design of the common light chain library was also carried out. Our researchers discovered that the stability and compatibility of the light chain play a crucial role in antibody performance. This led to the proposal of building a common light chain library, providing a more stable and efficient source of light chains for subsequent antibody development. Additionally, Sanyou Bio further upgraded the mouse immune antibody library. By optimizing immunization strategies and screening workflows, the affinity and specificity of antibodies within the library have been improved, significantly increasing its application value in drug R&D.

2018: The Launch of AI-STAL 1.0

2018 was a milestone year for Sanyou Bio, marking major breakthroughs in the development of the first-generation molecule library. The team successfully constructed a 100-billion-level fully human antibody library, setting a new record in the industry. The construction process faced numerous challenges, including the complexity and difficulty of gene synthesis and the low efficiency of library assembly. By optimizing gene synthesis methods and adopting high-efficiency cloning technology and screening strategies, our researchers overcame many obstacles, ultimately creating a fully human antibody library with a molecule scale several times larger than previous billion-level libraries. With the significant increase in library capacity, the number of preferred lead molecules also increased dramatically, providing a broader selection of high-quality candidate molecules for drug R&D. In the same year, Sanyou Bio also successfully built and set a record for a 10-billion-level naïve single-domain antibody library. At the time, the capacity of largest available single-domain antibody library worldwide contained only more than 4 billion. Leveraging its advanced technology platform and innovative construction strategies, Sanyou Bio broke this limitation. The team extracted single-domain antibody genes from animals such as alpacas and optimized gene cloning and expression conditions to construct a naïve single-domain library at the 10-billion level eventually. By the end of the year, Sanyou Bio had also completed the construction of a billion-level common light chain library. Throughout this process, our researchers meticulously screened and assembled light chain genes to ensure the quality and stability of the common light chain library, laying a solid foundation for the subsequent development of a trillion-level common light chain antibody library.

2019: The Development of Single-domain Antibody Library

In 2019, Sanyou Bio made significant progress in the development of single-domain antibody libraries. The conceptual design of a trillion-level fully human antibody library advanced steadily. Through data analysis and technical summary of the previously constructed 100-billion-level fully human antibody library, the team proposed the idea of building a trillion-level fully human antibody library. The plan focused on further optimizing gene synthesis and library construction technologies to increase the diversity and complexity of antibodies. At the same time, Sanyou Bio successfully constructed a super 100-billion-level single-domain antibody library, once again setting a new record in the industry. To achieve this, our research team introduced innovative synthesis technologies and screening methods to improve both the quality and screening efficiency of the single-domain antibody library. In addition, the validation of the billion-level common light chain library was completed. Through a series of rigorous experimental verifications, the stability and effectiveness of the library in antibody construction were approved, providing a reliable source of light chains for antibody development in future.

2020: Deep Technological Advancements

In 2020, Sanyou Bio underwent a deep technological upgrade. In the conceptual design of humanized semi-synthetic antibodies, based on their in-depth understanding of the human immune system and antibody structure, the team proposed to construct a humanized semi-synthetic antibody library through a novel combination of artificial synthesis and genetic modification. They envisioned improving the degree of humanization and reducing immunogenicity while retaining the natural activity of antibodies. Simultaneously, the conceptual design of humanized single-domain antibody library was also carried out. In view of the unique properties of single-domain antibodies, our researchers focused on humanizing the single-domain antibody framework to enhance the safety and effectiveness of the molecules for use in human body, thus constructing the humanized single-domain antibody library. Additionally, the conceptual design of the common light chain library concept was been further refined. The team conducted in-depth molecular-level research on the structure and function of common light chain, providing critical theoretical support for constructing a more efficient and optimized common light chain antibody library.

2021: Establishment of 3 Trillion-level Antibody Libraries

2021 was another milestone year for Sanyou Bio, with the successful completion of three trillion-level antibody libraries. By setting another new record in the industry, the establishment of the trillion-level fully human recombinant antibody library was a groundbreaking achievement. During the construction process, the team employed advanced gene recombination technologies and highly efficient library screening methods, ensuring exceptional antibody diversity and quality in the library. Building upon this success, the construction of the trillion-level fully human semi-synthetic antibody library was also completed. This library represented an upgraded achievement through gene recombination between CDRs based on the trillion-level fully human antibody library. Using precise gene editing techniques, our researchers optimized CDR sequences, enhancing antibody specificity and affinity. Another major breakthrough, the trillion-level humanized single-domain antibody library was also successfully established in record time. This library was built upon a highly humanized single-domain antibody framework and constructed through precise directly synthesis with reference to the characteristics of CDR sequences in nature. In same year, the screening and validation of the first trillion-level molecule library achieved outstanding results. For a single target protein, the average number of lead molecules was as high as hundreds, and the diversity was extremely high, providing abundant high-quality candidate molecules for drug R&D.

2022: The Launch of Super-trillion-level Platform

In 2022, Sanyou Bio achieved new milestones in development of molecule library and platform integration. The trillion-level fully human common light chain antibi library was successfully constructed and set a record in the industry. This library effectively addressed the challenge of light and heavy chain mismatching in the construction of “Two-in-One” bispecific antibodies, providing strong support for the development of bispecific antibodies, dual-target or dual-epitope ADCs, and other antibodies. With this addition, the total capacity of Sanyou Bio’s four trillion-level antibody libraries reached an unprecedented 7 trillion. On June 3, 2022, Sanyou Bio integrated the super-trillion-level molecule library and related cutting-edge technologies into a unified, comprehensive platform, named it “Sanyou Super-Trillion Innovative Antibody Drug Discovery Platform (STAL)”, and officially released it to the public. STAL was designed to integrate a variety of advanced techniques and rich molecule library resources, providing a one-stop solutions for drug R&D. Meanwhile, the construction and verification of the 100-billion-level cyclic peptide molecule library was also successfully completed. By utilizing innovative peptide synthesis techniques and advanced screening methods, our researchers developed a cyclic peptide molecule library with unique structural and functional properties, opening new frontiers for cyclic peptide drug R&D.

2023: A Giant Leap in Library Capacity

In 2023, Sanyou Bio achieved a giant leap in the capacity of its super-trillion molecule library. The trillion-level peptide library was successfully constructed and set a record in the industry. The team made new breakthroughs in peptide synthesis technology and library construction methods, bringing the total capacity of the peptide library to 3 trillion. As a result, the cumulative library capacity of super-trillion molecule library exceeded 10 trillion. In October 2023, Sanyou Bio conducted a comprehensive review and official release of its Super-Trillion Innovative Biologics Discovery Platform, further refining the functions and service system. By the end of 2023, Sanyou Bio completed the construction and validation of the 100-billion-level Anti-Calin molecule library. Anti-Calin molecules possess unique structural and functional properties, offering broad application prospects in the field of targeted therapy. The successful development of such library provided a critical molecule resource for the development of related drugs.

2024: AI-driven Design

In 2024, Sanyou Bio introduced AI technology to assist in the design of molecule library. The proof of concept of the second-generation super-trillion single-domain antibody library was launched first. The team used AI algorithms to analyze and predict the structure and function of single-domain antibodies and optimize the library’s construction strategy. Through extensive simulation experiments and data analysis, the construction direction and key technical parameters of the second-generation super-trillion single-domain library were determined. In October 2024, the construction and verification of the second-generation super-trillion single-domain concept library was completed. At present, such second-generation single-domain library is being constructed in full swing. Simultaneously, the construction of the second-generation super-trillion peptide library is also being actively promoted. With the assistance of AI technology, the team optimized the sequence and structure of peptides to improve the quality and screening efficiency of the peptide library. In addition, the conceptual design of nucleic acid molecule library was also put on the agenda. Our researchers envisioned leveraging AI-driven design to construct nucleic acid molecule library with specific functions, paving new technical pathways for fields such as gene therapy.

2025: The Launch of AI-STAL 2.0

In January 2025, AI-STAL 2.0 was officially launched, initiating a multi-year plan to complete the construction and gradual deployment of the Intelligent 100-trillion Molecule Library. It is planned to launch 10-trillion novel single-domain library, fully integrate AI technology, optimize the gene sequence of single-domain antibodies through AI algorithms, and improve the diversity and specificity of antibodies in new molecule library. Meanwhile, AI will be integrated into the entire process of antibody discovery and optimization. From the design of antibody genes, the construction of libraries, to the screening and optimization of antibodies, AI is used throughout. Using AI algorithms in analysis and data-mining of large amount of biological data could quickly and accurately discovery potential antibody molecules, and then optimize them, greatly improving the efficiency and success rate of antibody R&D.

Future Outlook

Looking to the future, AI-STAL 2.0 will develop in a broader application. In terms of development direction, it explores towards 5 major directions, including indications, molecular formats, application scenarios, mini-programs, and important targets. In terms of molecular types, it covers 6 types of molecules, including fully human monoclonal antibodies, common light chain antibodies, humanized single-domain antibodies, cyclic peptide molecules, ADC molecules, and mRNA molecules, proving diversified molecular tools for the treatment of different diseases. In terms of application scenarios, it is adapted to 8 key scenarios, including ELISA, WB, IHC, IF, IP-ID, FC, SPA, and SPB. In terms of technology integration, 7 AI-driven programs are integrated, including de novo generation, epitope prediction, immunogenicity prediction, druggability prediction, specificity prediction, affinity predication, and one-click molecule design, to improve the intelligence level of R&D. In terms of disease research, it focuses on 9 major human diseases, including tumors, autoimmune, infection, metabolism, ophthalmology, neurology, cardiovascular, anti-aging, and various rare diseases. In terms of target exploration, it concentrates on in-depth research over 100K important targets to lay a solid foundation for the development of more innovative drugs.

Sanyou Bio’s Intelligent 100-Trillion Molecule Library (AI-STAL) has evolved from its inception in 2015 into a powerful technology platform in the field of biologics after 10 years of relentless effort and technological innovation. Moving forward, with the deep integration of AI technology and continuous expansion, AI-STAL will play an even more crucial role in tackling major human diseases, developing innovative drugs, and making outstanding contributions to human health globally.

About Sanyou Bio

Sanyou Biopharmaceuticals Co., Ltd. is a high-tech biopharmaceutical company with the vision of “improving the quality of human life through innovative biologics” and the mission of ” to make the R&D easy for innovative biologics”. The company is headquartered in Shanghai, China, with subsidiaries in the United States, Europe, and other regions. It has over 20,000 square meters of R&D and GMP facilities that are currently in operation or under planning.

The company has established a world-leading preclinical intelligent and integrated R&D platform for innovative biologics, centered around an innovative platform of super-trillion antibody library. This platform accelerates the development of innovative biologics across four dimensions: new drug discovery, preclinical research, AI-assisted drug development, and frontier scientific research.

Sanyou provides a comprehensive “4C” business model for innovative biologics, combining differentiated CRO, integrated CDO, collaborative CPO, and specialized CRS. The company has built a global marketing network and established business with over 1,200 pharmaceutical and biotech companies worldwide. It has completed more than 1,200 new drug discovery and development service projects, with over 50 collaborative R&D projects, including 9 that have obtained IND approval. The company has also developed thousands of RUO reagents. Sanyou has also received a number of nationwide and Shanghai recognitions and awards.

Lifeline Cleaning Brings Festive Cheer to the Singapore Association of the Visually Handicapped (SAVH) with Free Professional Cleaning


SINGAPORE – Media OutReach Newswire – 5 February 2025 – Lifeline Cleaning, a leading cleaning service provider in Singapore, is pleased to announce its latest corporate social responsibility (CSR) initiative in support of the Singapore Association of the Visually Handicapped (SAVH). As part of the Chinese New Year celebrations, Lifeline Cleaning hosted a Chinese New Year get-together event at SAVH facilities.

Professional Cleaning at SAVH by Lifeline Cleaning
Professional Cleaning at SAVH by Lifeline Cleaning

The initiative aims to enhance the environment for the visually impaired community and promote inclusivity. Lifeline Cleaning continues to support CSR efforts focused on providing assistance to underserved groups such as the visually impaired.

“At Lifeline Cleaning, we believe in creating positive change in the lives of those who need it most. Our collaboration with SAVH for Chinese New Year allows us to honour the festive season while contributing to a cleaner, healthier, and more joyful environment for the visually impaired community,” said Roy Tan, Business Development (Corporate Accounts), Lifeline Cleaning.

What the CSR Initiative Involves

As part of this initiative, Lifeline Cleaning has:

  • Distributed Ang Baos to celebrate the Chinese New Year tradition of sharing blessings and bringing festive cheer to SAVH members.
  • Organised a breakfast-sharing session to foster community connection and celebrate the festive season together.
  • Provided cakes and pastries for the members to bring back, spreading more festive joy and delicious treats.

This initiative highlighted Lifeline Cleaning’s efforts to supporting vulnerable members of the community through various outreach activities. In addition to the 45 visually impaired elderly beneficiaries from the daycare group, SAVH staff, including some who are partially blind, also joined to usher in the Chinese New Year.

Meanwhile, SAVH’s massages for corporate groups and the “Dine in the Dark” event present opportunities for corporate companies, including Lifeline Cleaning, to engage with and support the community.

Lifeline Cleaning’s Ongoing CSR Commitment

Lifeline Cleaning has incorporated corporate social responsibility as a core element of its operations. Previous initiatives have involved collaborations with organisations supporting the elderly, visually impaired, and other underserved groups. Through these efforts, Lifeline Cleaning continues to contribute to the local community while offering professional cleaning services that promote a clean and safe environment for those in need. The company is also exploring the provision of disinfection services and ad hoc cleaning at SAVH.

Looking ahead, the company plans to expand its CSR initiatives to additional non-profit organisations, leveraging its expertise to create safe, hygienic, and inclusive environments for underserved communities.
Hashtag: #LifelineCleaning #CSRInitiative #SupportingCommunities #CleaningServices



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

About Lifeline Cleaning

Lifeline Cleaning is a trusted , offering professional cleaning solutions for commercial and residential spaces. Committed to excellence, the company provides high-quality tailored to meet the varied needs of its clients. In addition to its services, Lifeline Cleaning actively contributes to the community through meaningful CSR initiatives. For more information on their efforts, visit their website:

Xinhua Silk Road: China’s baijiu maker Wuliangye sends Spring Festival greetings to world at New York Times Square

BEIJING, Feb. 5, 2025 /PRNewswire/ — China’s leading baijiu maker Wuliangye sent its Spring Festival greetings to the world through a 3D advertisement released on January 27 at the Times Square, New York.


In the joyful and peaceful Spring Festival, Chinese civilization concepts such as peace and harmony are spread to enhance mutual understanding, respect, and interaction among peoples. 

The advertisement presented the Wuliangye brand through a lovable animated giant panda, who unfolded a couplet meaning “harmony”. It marked the integration of Wuliangye’s brand culture of “harmony” with the Spring Festival, conveying the good wishes of the Chinese nation to the world for a new future highlighting global “harmony”.


To observe the festival, Chinese people always prepare sumptuous food and make toasts to their families, friends and ancestors with Chinese baijiu. As one of the oldest Chinese baijiu, Wuliangye reflects the connections and pursuits of the Chinese people, becoming a cultural symbol in the Spring Festival celebrations.

To welcome the Year of the Snake, the first edition after the UNESCO added the Spring Festival, the social practices of the Chinese people in celebration of the traditional new year to its Representative List of the Intangible Cultural Heritage of Humanity, Wuliangye launched the Times Square 3D advertisement, not only conveying blessings but also exhibiting the charm of Chinese baijiu culture.


Wuliangye baijiu, made from sorghum, rice, sticky rice, wheat and corn, is the world’s first distilled liquor made from five types of grains. Wuliangye has ancient fermentation pits, which are precious tangible cultural heritage and have been fermenting for 700-odd years since the Yuan and Ming dynasties. Rich microorganisms in the pits mud endow Wuliangye with unparalleled unique flavor and delicate taste. Also, the brewing techniques that have been passed down for over a thousand year have finally created the unique flavor and quality of Wuliangye.

In recent years, Wuliangye has been actively going global. It has set foot in multiple countries and regions across the five continents through a “Harmony Global Tour” campaign. To expand international business, the Chinese baijiu maker has established three international marketing hubs in the Asia Pacific, Europe, and the Americas, and made its products available in duty-free stores, retail outlets, catering services, e-commerce platforms, and special channels.

Original link: https://en.imsilkroad.com/p/344240.html

TUMI Highlights Peruvian Influences with Vibrant Energy in Spring 2025 Collections


HONG KONG SAR – Media OutReach Newswire – 5 February 2025 – TUMI, the leading international travel, lifestyle and accessories brand, is ushering in Spring 2025 with vibrant energy. This season marks a significant milestone—TUMI’s 50th anniversary—celebrating a legacy rich in heritage, innovation and enduring performance. From exceptional craftsmanship to groundbreaking advancements, TUMI symbolizes timeless luxury. For Spring 2025, TUMI seamlessly blends ancient and modern influences, highlighting the allure and vibrancy of Peru, the birthplace of the brand. This collection reflects the brand’s commitment to innovative design, quality and performance, ensuring each piece is not only stylish but also keeps up with the dynamic lifestyle of TUMI consumers.

(L to R): Alpha Bravo Navigation Backpack in Red/Lime Chameleon, Voyageur Celina Backpack in Denim Blue
(L to R): Alpha Bravo Navigation Backpack in Red/Lime Chameleon, Voyageur Celina Backpack in Denim Blue

Our captivating Spring capsule pays homage to the vibrant colors found in Peru’s breathtaking landscapes and bustling markets. This collection features select pieces from the Voyageur, Georgica, Alpha Bravo, 19 Degree and TUMI Travel Accessories collections. Blending fashion with functionality, the assortment comes alive with striking patterns like Denim, Red/Lime Chameleon, and Natural/Sand, complemented by a variety of seasonal charms honoring Peru’s natural beauty.

The Alpha Bravo collection, known for its high-performance essentials perfect for the office, outdoors, and beyond, is getting a vibrant update for Spring. This versatile collection of backpacks, totes, travel kits and more will now feature a striking new colorway: Red/Lime Chameleon. Additionally, the outdoor-ready Nomadic Expedition capsule will be available in sleek Black Onyx, blending style with durability for all your adventures.

(L to R): Georgica Lima Medium Tote in Natural/Sand and Valorie Tote in Lily
(L to R): Georgica Lima Medium Tote in Natural/Sand and Valorie Tote in Lily

This season, women’s styles receive an exciting refresh with vibrant new silhouettes and colorways. The Voyageur collection, known for its versatility, is tailored to meet the everyday needs of women. The Spring 2025 collection introduces the chic Evora Hobo silhouette, along with fresh seasonal hues like Lagoon, Lavender and Denim Blue. Additionally, the women’s Georgica collection is revitalized with stunning new shades, including the soft pink Lily. New arrivals feature the Lima Medium Tote, subtly adorned with the iconic “T” logo pattern and accented by the sophisticated Natural/Sand colorway.

(L to R): 19 Degree International Expandable 4 Wheeled Carry-On in Lagoon and Lavender
(L to R): 19 Degree International Expandable 4 Wheeled Carry-On in Lagoon and Lavender

The iconic 19 Degree collection returns this season with a stunning array of vibrant new colorways, including Lagoon and Lavender. Highlighting the lively hues of Andean textiles, we’re excited to introduce Iridescent Dusk—a fresh seasonal color that features a futuristic palette complemented by sleek gunmetal accents. Additionally, TUMI is thrilled to unveil the new Rolling Trunk, designed with a spacious split interior and integrated dividers, making it the ideal companion for long journeys and bucket list adventures.

(L to R): Voyageur Evora Mini Hobo in Black/Light Gold, 19 Degree Rolling Trunk in Black Texture
(L to R): Voyageur Evora Mini Hobo in Black/Light Gold, 19 Degree Rolling Trunk in Black Texture

Paying homage to this season’s Peruvian theme, TUMI is offering a lively array of bag charms, a perfect addition to any traveler’s ensemble. These charms reflect the rich cultural heritage and artistry of the Andes. Each piece is crafted with attention to detail, embodying the spirit of adventure and individuality.

Keep up with TUMI on Instagram and Facebook.
Hashtag: #TUMI

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

About TUMI

Since 1975, TUMI has been creating world-class business, travel, and performance luxury essentials, designed to upgrade, uncomplicate and beautify all aspects of life on the move. Blending flawless functionality with a spirit of ingenuity, we’re committed to empowering journeys as a lifelong partner to movers and makers in pursuit of their passions. For more about TUMI, visit .

TUMI and TUMI logo are registered trademarks of Tumi, Inc. © 2025 Tumi, Inc.

Radisson Hotel Group concludes record-breaking year with over 300 new signings and openings in 2024

BRUSSELS, Feb. 5, 2025 /PRNewswire/ — Radisson Hotel Group reported a record-breaking year in 2024 after adding almost 40,000 keys to its global brand portfolio, thereby achieving significant milestones and further strengthening its footprint around the world. Radisson Blu remained the leading upper upscale brand in Europe for the 13th consecutive year and the Group is now leading the upscale resort segment in EMEA.

Crystals Beach Resort Belle Mare, a member of Radisson Individuals
Crystals Beach Resort Belle Mare, a member of Radisson Individuals

Elie Younes, Executive Vice President and Global Chief Development Officer at Radisson Hotel Group, comments: “Despite global geopolitical shifts in 2024, we had a successful year thanks to our relentless efforts to serve our two key customers: the guest and the owner. In 2025, we will continue creating more possibilities and opportunities for all our stakeholders through building on existing segments and partnerships as well as seeking new business avenues. We are grateful to our owners, partners, shareholders, and dedicated teams, whose trust and support enable our joint success.”

With a clear vision for growth and development set out by Radisson Hotel Group’s transformation plan, the Group has been able to achieve the following successes across its portfolio in 2024:

Since its launch in 2018, the Radisson Collection brand grew in 2024 to nearly 70 hotels and achieved significant portfolio growth across key destinations. This included the signing of the first Radisson Collection properties in Paris and Madrid, the signing of the Group’s third Radisson Collection property in Riyadh, and the opening of flagship hotels in Rome (Italy), and Srinagar (India). The Radisson Collection hotel in the heart of Paris is located in the iconic and heritage-protected Haussmann building — just steps away from the Louvre Museum and Le Marais neighborhood. In Madrid, the Radisson Collection hotel is set to debut in the iconic Generali building located on Alcala Street — one of Madrid’s most prominent avenues in the prestigious Canalejas area.

In collaboration with PPHE Hotel Group, Radisson Hotel Group opened the doors to art’otel London Hoxton in May. The hotel is in the vibrant Hoxton neighborhood and combines captivating artwork by Signature Artist D*Face with cutting-edge design. In early 2025, the Group is also set to open an art’otel property in Rome, marking the brand’s Italian debut.

Radisson Blu achieved remarkable success last year, as the brand counted over 20 additions to its portfolio, reflecting strong momentum in EMEA and APAC. This growth included openings and signings which redefined the skyline of some of the world’s most renowned cities such as Casablanca (Morocco), where the property is nestled in the city’s new financial district. The recently opened hotel in Conakry is a landmark addition to Guinea’s vibrant capital and is not only a new market entry, but also a significant expansion of the Group’s footprint in West Africa.

Radisson RED expanded into several new markets including Danang (Vietnam), Berlin (Germany), Auckland (New Zealand), Vientiane (Laos), and Abuja (Nigeria). Notable highlights are the debut of the brand in Ireland, with the opening of Radisson RED Galway, located in Galway’s newest neighborhood, Crown Square, and close to Galway’s city center. Whereas Radisson RED Phuket Patong Beach – located just 200 meters from the iconic Patong Beach – marks the debut of the brand in Thailand. The hotel takes the guest experience to new levels with its own RED radio station.

First launched in 2020, Radisson Individuals is now one of the fastest-growing brands in APAC with almost 15 additions to the portfolio in the region in 2024, including openings in Udaipur as well as Saket in South Delhi (India). In EMEA, the brand expanded with new properties in Oman, Sardinia, Turkey, France, and the UK with openings in Surrey, as well as Bolton where the hotel is attached to the home of Bolton Wanderers Football Club, located in the heart of North West England.

Towards the end of the year, the Group rebranded its midscale lifestyle brand, prizeotel, to Prize by Radisson. New hotels under the rebranded name were announced in Gdansk (Poland) and Berlin (Germany), which marked a pivotal moment in the brand’s growth strategy.

With over 150 properties in operation and under development, Radisson Hotel Group is now the industry leader in the upscale resort segment. New openings and signings were announced in breathtaking destinations, including an addition to the Group’s existing portfolio of hotels in Mauritius. This stunning property is nestled along the east coast of Mauritius, on a prime location on one of the island’s most pristine beaches.

Stepping into 2025, Radisson Hotel Group will continue to focus on expansions in strategic geographies, with the right brand and solution for every market, creating more possibilities and opportunities for stakeholders.

Watch the full video of the Business Development Update here: https://www.youtube.com/watch?v=69bJ-D67bVo

RADISSON HOTEL GROUP 

Radisson Hotel Group is an international hotel group, operating in EMEA and APAC with over 1,460 hotels in operation and under development in +100 countries. The international hotel group is rapidly expanding with a plan to significantly grow the portfolio. The Group’s overarching brand promise is Every Moment Matters with a signature Yes I Can! service ethos.

The Radisson family of brands portfolio includes Radisson Collection, art’otel, Radisson Blu, Radisson, Radisson RED, Radisson Individuals, Park Plaza, Park Inn by Radisson, Country Inn & Suites by Radisson, and prizeotel brought together under one commercial umbrella brand Radisson Hotels. 

Radisson Rewards is Radisson Hotel Group’s loyalty program, which delivers an elevated experience that makes Every Moment Matter, counting over 17 million members. As the most streamlined program in the sector, members enjoy exceptional advantages and can access their benefits from day one across a wide range of hotels in Europe, Middle East, Africa, and Asia Pacific. 

Radisson Meetings provides tailored solutions for any event or meeting, including hybrid solutions placing guests and their needs at the heart of its offer. Radisson Meetings is built around three strong service commitments: Personal, Professional and Memorable, while delivering on the brilliant basics and being uniquely 100% Carbon Neutral. 

At Radisson Hotel Group we care for people, communities and planet and aim to be Net Zero by 2050 based on the approved near-term Science Based Targets. With unique solutions such as 100% carbon neutral Radisson Meetings, we make sustainable hotel stays easy. To facilitate sustainable travel choices, all our hotels are becoming verified on Hotel Sustainability Basics. 

The health and safety of guests and team members remain a top priority for Radisson Hotel Group. All properties across the Group’s portfolio are subject to health and safety requirements, ensuring we always care for our guests and team members. 

For more information, visit our corporate website. Or connect with Radisson Hotels on: 

LinkedIn | Instagram | Twitter | Facebook | YouTube | TikTok 

First Radisson Collection hotel in the heart of Madrid
First Radisson Collection hotel in the heart of Madrid

First Radisson Collection hotel in the heart of Paris
First Radisson Collection hotel in the heart of Paris

Radisson RED Danang
Radisson RED Danang

Tuya Smart Partners with Chery to Pioneer “Car-Home Connectivity” Ecosystem

NEW YORK, Feb. 5, 2025 /PRNewswire/ — Tuya Smart (NYSE: TUYA, HKEX: 2391), a global cloud platform service provider, has announced a partnership with Chery, a Fortune Global 500 automaker, during Chery’s second Ecosystem Partner Conference of Ruixiang Life (Ruixiang Life is an ecosystem brand under Chery). The collaboration aims to create a smart cockpit, accelerate the integration of automotive and home ecosystems, and offer consumers unparalleled convenience and comfort in both travel and living spaces.

Car-Home Connectivity: Redefining the Future of Smart Spaces

Chery, a pioneer in Chinese automotive technology and a trailblazer in export innovation, has consistently set benchmarks in the automotive industry. In 2024, Chery achieved over RMB 480 billion in revenue, representing a year-over-year increase exceeding 50%, and sold more than 2.6 million vehicles, securing its position as the top car exporter.

As a Fortune 500 company, Chery recognizes the critical importance of embracing expansion and innovation. With the rapid rise of AIoT, the convergence of smart environments has become an inevitable trend. Recognizing the growing integration of home and vehicle spaces in modern lifestyles, Chery has expanded its focus from the automotive domain to smart home ecosystems, aiming to establish a seamless car-home connectivity system that enriches the smart living experience for users.

In this context, Chery has chosen to collaborate with Tuya. Tuya is a global leading cloud platform service provider with a mission to build a smart solutions developer ecosystem and enable everything to be smart. Its extensive expertise and proven track record in the smart home sector make it the ideal collaborator to help Chery elevate the ecosystem connecting human, automotive and home.

Partnership Drives Smart Ecosystem Innovation

During the conference, Chery and Tuya held an on-site signing ceremony to formalize the partnership. Leveraging Tuya’s cutting-edge smart space solutions for passenger vehicles, the collaboration aims to establish an interoperable smart home system across brands, ecosystems, and devices enabling seamless communication between cars, in-car devices, and smart home systems.

Tuya’s comprehensive product integration capabilities span all categories of hardware devices and flexibly support OEM/ODM allowing Chery to adapt to diverse lifestyle scenarios. For example, drivers can use a Tuya-enabled App on their car’s infotainment system to control home devices in real-time. Before arriving home, users can activate pre-set scenes—adjusting lighting, air conditioning, and curtains—delivering an immersive and personalized lifestyle experience.

In addition to car-home connectivity, the partnership will expand to include smart living scenarios in real estate, communities, and hospitality. This comprehensive approach creates more comfortable and integrated smart spaces, helping Chery drive growth in the competitive automotive market.

Bingfeng Zheng, Assistant to the President and General Manager of the Spare Parts Boutique Business Unit at Chery, said, “The integration of smart cars and smart homes is a key focus for today’s consumers. This collaboration between Chery and Tuya reflects our commitment to staying ahead of market trends. With Tuya’s leading-edge cloud platform, networking modules, and robust development tools, Chery is poised to strengthen its leadership in the automotive sector while exploring diversified development opportunities.”

Parvana Yu, Deputy General Manager of Travel Business Unit of Tuya Smart, said, “We are honored to collaborate with Chery, a company renowned for its deep industry expertise and global market influence. Chery’s precision in identifying market trends and leveraging its robust channel system will enable Tuya to rapidly deliver high-quality solutions to a broader audience. Together, we aim to redefine the car-home connectivity landscape and drive the intelligent transformation of everyday scenarios.”

Car-home connectivity is more than a technological advancement; it represents an exploration into future lifestyles. The partnership between Chery and Tuya accelerates the integration of human, automotive, and home ecosystems, setting new standards for smart living. Looking ahead, both companies will deepen collaboration, explore innovative scenarios, and enhance user experiences to lead the evolution of the smart living ecosystem.

Euroclear continues to deliver strong results in 2024

BRUSSELS, Feb. 5, 2025 /PRNewswire/ — Results for the year ending 31 December 2024

Euroclear Holding
Euroclear Holding

Financial highlights

Euroclear’s underlying[1] business income and interest earnings reached record levels in 2024

  •  Underlying operating income increased by 5% to reach €2,899 million.
  •  Underlying business income is up by 5% to €1,748 million, driven by strong settlement and safekeeping activities, with assets under custody reaching €40.7 trillion as of end December 2024.
  •  Underlying business income for Q4 2024 increased by 7% compared to Q4 2023, driven by strong performance in Eurobonds, European Assets, Global Emerging Markets and Funds.
  •  Despite a decreasing trend in interest earnings in the second half of 2024 due to interest rate changes, underlying interest income increased by 3% year-on-year to €1,152 million.

Cost and margin evolution

  •  Euroclear reported several one-off events in Q4 2024, resulting in a total impact of €117 million. These include an initial dotation and the 2024 contribution to the newly created Euroclear Foundation (see below), the impact of the initial consolidation of Goji and Quantessence within the Euroclear Holding figures, a voluntary retirement incentive plan and a voluntary early retirement plan and the related tax impact.
  •  When excluding the above-mentioned events, underlying adjusted operating expenses increased by 3% year-on-year to €1,333 million, in line with the continued focus on cost mitigation and our 2-3% organic cost growth target.
  •  Q4 2024 underlying adjusted operating expenses increased by 5% versus Q4 2023, also reflecting exceptional HR and IT-related elements amounting to approx. €10 million.
  •  Adjusted business income operating margin for the full year 2024 improved as a result by 1.5 percentage points to 23.7%, in line with our focus to create positive operating leverage.

Net profit and EPS evolution

  • Underlying net profit increased by 6% to a record level of €1,038 million.
  • When excluding the above-mentioned one-off cost events, resulting adjusted underlying net profit increased by 5% to €1,155 million.
  • Underlying adjusted Earnings Per Share increased by 5% to €367, reflecting the continued increase in net profit.

Capital position and dividend proposal

  •  Euroclear group retains a very strong capital position, comfortably above regulatory requirements with an underlying Common Equity Tier 1 capital ratio slightly above 60%[2].
  •  The Board proposes to pay a dividend per share of €220 by the end of Q2 2025. This represents an increase of 5% and maintains the pay-out ratio at around 60% of the adjusted underlying earnings.

The impacts of the Russian sanctions are detailed in the last section of this press release.

Valerie Urbain, Chief Executive Officer of Euroclear, commented:

“2024 was a year of record financial performance, underpinned by our increasingly diversified business model and driven by strong business income and sustained interest income. Our strategy and new management structure puts clients at the centre of our plans, and we continue to make progress against our key objectives. In 2024, we grew our funds business and European presence through the announced acquisition of Inversis in Spain. We also continue to support market adoption of digital assets by attracting new issuances on our D-SI platform while participating in important projects with industry partners to drive innovation across European post-trade.

Our core activities continue to thrive. We have reached record levels in settlement and safekeeping activities, with assets under custody closing the year over the €40 trillion mark. The outstanding of Euroclear’s Collateral Highway is now close to €2 trillion, while the funds depot also hit a new high of 3.6 trillion.”

Business performance 

The key operating metrics (end of period unless stated otherwise) demonstrate an excellent business performance during the period.

FY 2023

FY 2024

YoY evolution

3-year CAGR

Assets under custody

€37.7 trillion

€40.7 trillion

+8 %

+3 %

Number of transactions

299 million

331 million

+10 %

+4 %

Turnover

€1,072 trillion

€1,162 trillion

+8 %

+5 %

Fund assets under custody

€3.1 trillion

€3.6 trillion

+16 %

+4 %

Collateral Highway

€1.67 trillion

€1.9 trillion

+15 %

+1 %

Underlying cash deposits (full year average)

€23.7 billion

€22.8 billion

-4 %

+3 %

Euroclear’s assets under custody reached a record €40.7 trillion, growing for the ninth quarter in a row, thanks to solid stock exchange performances and robust results in fixed income.

Settlement volumes hit a new high due to sustained activity throughout the year.

Boosted by the ETF activity, combined with the rise in equity markets, fund assets under custody reached the record level of €3.6 trillion.

The Collateral Highway’s outstanding continues to increase and is now close to its prior peak level.

Business milestones

Advancing the funds business 

Over the past years, Euroclear’s funds offering has evolved rapidly thanks to acquisitions such as MFEX in 2021 and Goji in 2023. In 2024, major clients in Asia, Europe and the US, including Banque et Caisse d’Epargne de l’Etat Luxembourg (Spuerkeess), Blackrock, China Construction Bank (Asia), DBS Bank or ODDO BHF have selected Euroclear FundsPlace for the onboarding of their investment funds. Euroclear provides them with a one-stop-shop solution for fund distribution and execution services via its extensive network, allowing their clients to have access to more than 250,000 funds.

In 2024, Euroclear acquired a strategic stake in IZNES, a pan-European funds marketplace based on blockchain technology. This partnership complements Euroclear’s funds services in the French market and beyond as it continues to play an active role in the development of innovative funds distribution models.

In July 2024, Euroclear announced the acquisition of a 49% stake in Inversis, a leading provider of global investment technology solutions and outsourced financial services with the intention to become the full owner of the Spanish company by end 2027. By acquiring Inversis, Euroclear aims to accelerate the delivery of its funds strategy and increase its pan-European coverage thanks to Inversis’ significant presence on the Spanish market.

In Asia, Euroclear acquired a strategic stake in Marketnode, a Singapore-based digital market infrastructure operator. By joining forces with Marketnode, Euroclear aims to participate in the setup of a key market infrastructure in Asia-Pacific designed to simplify the management of fund flows and reduce settlement times by using DLT technology.

Reshaping traditional financial services

Euroclear has an important role to play in bridging the gap between digital asset securities and the conventional financial landscape. In 2024, Euroclear made significant progress to become a digital, data-enabled Financial Market Infrastructure by welcoming the Digital Native Note (DNN) issued by the Asian Infrastructure Investment Bank on its Digital Securities Issuance (D-SI) platform. This marks the first of such digital issuance in USD for Euroclear and the first by an Asia-based issuer on its platform. 

Euroclear is also actively engaged in exploring the full potential of digital assets and participates in various DLT projects with market partners. Alongside Digital Asset and The World Gold Council, it successfully completed a groundbreaking pilot to tokenise gold, Gilts and Eurobonds for collateral management. With the support of Paris Europlace, Euroclear worked with a group of French banks around its D-SI platform and Banque de France’s DL3S platform for Central Bank Digital Currency (CBDC) to issue the first Digitally Native Note (DNN) under French law and settled it in CBDC.

Streamlined management structure

Following the appointment of Valérie Urbain as CEO of the group, Euroclear redesigned the structure and composition of its top management team to accelerate strategy execution. A new, expanded Executive Committee composed of eight members ensures the representation of all the group’s constituents in all key strategic decisions and a stronger focus on clients, business operations and people – both in Europe and internationally.

Launch of the Euroclear Foundation to amplify social impact

Euroclear aims to make a significant positive social impact in the locations where it operates. By establishing the Euroclear Foundation, Euroclear will seek to improve lives and support the next generation by working to eliminate pressing social and environmental issues.

The Euroclear Foundation builds on the company’s existing initiatives aimed at increasing its social impact. These include a group-wide volunteering programme, long-term community partnerships and a Matching Gift programme to match employee donations.

Russian sanctions impacts 

Financial impacts of the Russian assets

  • Following the implementation of the EU windfall contribution regulation, Euroclear provisioned €4 billion as windfall contribution in 2024.
  • After retention of a 10% share of the windfall contribution to comply with capital and risk management requirements, Euroclear made a first payment for H1 2024 of approx. €1.55 billion to the European Fund for Ukraine in July 2024. A second payment for H2 2024 is expected to take place in March 2025 and should amount to approx. €2 billion.
  • Interest earnings related to Russian assets, which are subject to Belgian corporate tax, generated €1.7 billion tax revenue.
  •  The sanctions and Russian countermeasures resulted in direct costs of €94 million and a loss of business income of €27 million.
  •  Gradual rate cuts have led to a gradual decline in interest income related to the Central Bank of Russia’s assets in 2024 with the outlook for future interest earnings likely to continue to decline though dependent on future policymaking decisions.

Update on Russian sanctions and countermeasures

Russia’s invasion of Ukraine in February 2022 resulted in market-wide application of international sanctions. Euroclear considers the application of international sanctions as a key obligation. Therefore, well established processes are in place which have allowed the group to implement the sanctions while maintaining our normal course of business.

As a result of the sanctions, blocked coupon payments and redemptions owed to sanctioned entities continue to accumulate on Euroclear Bank’s balance sheet. At the end of December 2024, Euroclear Bank’s balance sheet totalled €212 billion, of which €183 billion relate to sanctioned Russian assets.

In line with Euroclear’s risk appetite and policies and as expected by the EU Capital Requirements Regulation, Euroclear’s cash balances are re-invested to minimise risk and capital requirements. In 2024, interest arising on cash balances from Russian-sanctioned assets was approximately €6.9 billion. Such interest earnings are driven by the prevailing interest rates and the amount of cash balances that Euroclear is required to invest. Subject to Belgian corporate tax, these earnings generated €1.7 billion tax revenue for the Belgian State. As such, future earnings will be influenced by the evolving interest rate environment.

Effective 15 February 2024, the EU Council adopted a Regulation requiring Central Securities Depositories (CSDs) holding reserves and assets of the Central Bank of Russia with a total value of more than €1 million to apply specific rules in relation to the cash balances accumulating due to restrictive measures. These CSDs, such as Euroclear Bank, should account for and manage such extraordinary cash balances separately from their other activities, should keep separate the net profit generated and should not dispose of these ensuing net profits (e.g. in the form of dividends to shareholders).

In May 2024, the European Commission has adopted a new regulation about a windfall contribution applicable to CSDs holding Russian Central Bank assets with a total value of more than €1 million. The profits generated by the reinvestment of these sanctioned amounts dating from 15 February 2024 onwards are required to be contributed to the European Fund for Ukraine. After retention of a 10% share of the windfall contribution to comply with capital and risk management requirements, Euroclear made a first payment of approx. €1.55 billion to the European Fund for Ukraine in July 2024. A second payment is expected to take place in March 2025 and should amount to approx. €2 billion.

Issued on 16 December 2024, the 15th EU sanctions package against Russia included a loss recovery mechanism which allows for the release of cash balances held by European CSDs under certain conditions. This derogation will enable CSDs to request competent authorities to unfreeze cash balances and use them to meet their legal obligations with their clients.

Euroclear continues to act prudently and to strengthen its capital by retaining the remainder of the Russian sanction related profits as a buffer against current and future risks. Euroclear is focused on minimising potential legal, financial, and operational risks that may arise for itself and its clients, while complying with its obligations.

As a direct consequence of the sanctions and countermeasures, Euroclear faces multiple proceedings in Russian courts. Since Russia considers international sanctions against public order, Russian claimants initiated legal proceedings aiming mainly to access assets blocked in Euroclear Bank’s books, by claiming an equivalent amount in Russian Ruble and enforcing their claim in Russia. Despite all legal actions taken by Euroclear and the considerable resources mobilised, the probability of unfavourable rulings in Russian courts is high since Russia does not recognise the international sanctions.

Euroclear Bank and Euroclear Holding are the two group issuing entities. The full year 2024 summary income statements and financial positions for both entities are shown below.

The drop in FY2024 figures compared to FY2023 reflects the booking of the windfall contribution related to the Central Bank of Russia’s (CBR) assets dating from 15 February 2024.

The evolution of FY2024 figures compared to FY2023 reflects the increase in intragroup dividend.

About Euroclear

Euroclear group is the financial industry’s trusted provider of post trade services. Guided by its purpose, Euroclear innovates to bring safety, efficiency, and connections to financial markets for sustainable economic growth. Euroclear provides settlement and custody of domestic and cross-border securities for bonds, equities and derivatives, and investment funds. As a proven, resilient capital market infrastructure, Euroclear is committed to delivering risk-mitigation, automation, and efficiency at scale for its global client franchise. The Euroclear group comprises Euroclear Bank, the International and Irish CSD, as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden and Euroclear UK & International.

[1] Excluding Russian assets impacts.

[2] Post deduction of dividend relating to 2023 earnings, including 2024 underlying profit and based on estimated underlying RWA of around €7.5 billion. Taking into account a 60% dividend pay-out on the 2024 adjusted underlying profit, the CET1 ratio is 51%.

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Logo – https://laotiantimes.com/wp-content/uploads/2025/02/euroclear_logo-1.jpg

 

Euroclear
Euroclear

 

Annexes
Annexes

 

Cash balances related to Russian sanctions
Cash balances related to Russian sanctions

 

“Business as usual” cash balances
“Business as usual” cash balances

 

Unaudited figures (in € million) as of 31 December 2024
Unaudited figures (in € million) as of 31 December 2024

 

Unaudited figures (in € million) as of 31 December 2024
Unaudited figures (in € million) as of 31 December 2024

 

Euroclear continues to deliver strong results in 2024

BRUSSELS, Feb. 5, 2025 /PRNewswire/ — Results for the year ending 31 December 2024

Euroclear Holding
Euroclear Holding

Financial highlights

Euroclear’s underlying[1] business income and interest earnings reached record levels in 2024

  •  Underlying operating income increased by 5% to reach €2,899 million.
  •  Underlying business income is up by 5% to €1,748 million, driven by strong settlement and safekeeping activities, with assets under custody reaching €40.7 trillion as of end December 2024.
  •  Underlying business income for Q4 2024 increased by 7% compared to Q4 2023, driven by strong performance in Eurobonds, European Assets, Global Emerging Markets and Funds.
  •  Despite a decreasing trend in interest earnings in the second half of 2024 due to interest rate changes, underlying interest income increased by 3% year-on-year to €1,152 million.

Cost and margin evolution

  •  Euroclear reported several one-off events in Q4 2024, resulting in a total impact of €117 million. These include an initial dotation and the 2024 contribution to the newly created Euroclear Foundation (see below), the impact of the initial consolidation of Goji and Quantessence within the Euroclear Holding figures, a voluntary retirement incentive plan and a voluntary early retirement plan and the related tax impact.
  •  When excluding the above-mentioned events, underlying adjusted operating expenses increased by 3% year-on-year to €1,333 million, in line with the continued focus on cost mitigation and our 2-3% organic cost growth target.
  •  Q4 2024 underlying adjusted operating expenses increased by 5% versus Q4 2023, also reflecting exceptional HR and IT-related elements amounting to approx. €10 million.
  •  Adjusted business income operating margin for the full year 2024 improved as a result by 1.5 percentage points to 23.7%, in line with our focus to create positive operating leverage.

Net profit and EPS evolution

  • Underlying net profit increased by 6% to a record level of €1,038 million.
  • When excluding the above-mentioned one-off cost events, resulting adjusted underlying net profit increased by 5% to €1,155 million.
  • Underlying adjusted Earnings Per Share increased by 5% to €367, reflecting the continued increase in net profit.

Capital position and dividend proposal

  •  Euroclear group retains a very strong capital position, comfortably above regulatory requirements with an underlying Common Equity Tier 1 capital ratio slightly above 60%[2].
  •  The Board proposes to pay a dividend per share of €220 by the end of Q2 2025. This represents an increase of 5% and maintains the pay-out ratio at around 60% of the adjusted underlying earnings.

The impacts of the Russian sanctions are detailed in the last section of this press release.

Valerie Urbain, Chief Executive Officer of Euroclear, commented:

“2024 was a year of record financial performance, underpinned by our increasingly diversified business model and driven by strong business income and sustained interest income. Our strategy and new management structure puts clients at the centre of our plans, and we continue to make progress against our key objectives. In 2024, we grew our funds business and European presence through the announced acquisition of Inversis in Spain. We also continue to support market adoption of digital assets by attracting new issuances on our D-SI platform while participating in important projects with industry partners to drive innovation across European post-trade.

Our core activities continue to thrive. We have reached record levels in settlement and safekeeping activities, with assets under custody closing the year over the €40 trillion mark. The outstanding of Euroclear’s Collateral Highway is now close to €2 trillion, while the funds depot also hit a new high of 3.6 trillion.”

Business performance 

The key operating metrics (end of period unless stated otherwise) demonstrate an excellent business performance during the period.

FY 2023

FY 2024

YoY evolution

3-year CAGR

Assets under custody

€37.7 trillion

€40.7 trillion

+8 %

+3 %

Number of transactions

299 million

331 million

+10 %

+4 %

Turnover

€1,072 trillion

€1,162 trillion

+8 %

+5 %

Fund assets under custody

€3.1 trillion

€3.6 trillion

+16 %

+4 %

Collateral Highway

€1.67 trillion

€1.9 trillion

+15 %

+1 %

Underlying cash deposits (full year average)

€23.7 billion

€22.8 billion

-4 %

+3 %

Euroclear’s assets under custody reached a record €40.7 trillion, growing for the ninth quarter in a row, thanks to solid stock exchange performances and robust results in fixed income.

Settlement volumes hit a new high due to sustained activity throughout the year.

Boosted by the ETF activity, combined with the rise in equity markets, fund assets under custody reached the record level of €3.6 trillion.

The Collateral Highway’s outstanding continues to increase and is now close to its prior peak level.

Business milestones

Advancing the funds business 

Over the past years, Euroclear’s funds offering has evolved rapidly thanks to acquisitions such as MFEX in 2021 and Goji in 2023. In 2024, major clients in Asia, Europe and the US, including Banque et Caisse d’Epargne de l’Etat Luxembourg (Spuerkeess), Blackrock, China Construction Bank (Asia), DBS Bank or ODDO BHF have selected Euroclear FundsPlace for the onboarding of their investment funds. Euroclear provides them with a one-stop-shop solution for fund distribution and execution services via its extensive network, allowing their clients to have access to more than 250,000 funds.

In 2024, Euroclear acquired a strategic stake in IZNES, a pan-European funds marketplace based on blockchain technology. This partnership complements Euroclear’s funds services in the French market and beyond as it continues to play an active role in the development of innovative funds distribution models.

In July 2024, Euroclear announced the acquisition of a 49% stake in Inversis, a leading provider of global investment technology solutions and outsourced financial services with the intention to become the full owner of the Spanish company by end 2027. By acquiring Inversis, Euroclear aims to accelerate the delivery of its funds strategy and increase its pan-European coverage thanks to Inversis’ significant presence on the Spanish market.

In Asia, Euroclear acquired a strategic stake in Marketnode, a Singapore-based digital market infrastructure operator. By joining forces with Marketnode, Euroclear aims to participate in the setup of a key market infrastructure in Asia-Pacific designed to simplify the management of fund flows and reduce settlement times by using DLT technology.

Reshaping traditional financial services

Euroclear has an important role to play in bridging the gap between digital asset securities and the conventional financial landscape. In 2024, Euroclear made significant progress to become a digital, data-enabled Financial Market Infrastructure by welcoming the Digital Native Note (DNN) issued by the Asian Infrastructure Investment Bank on its Digital Securities Issuance (D-SI) platform. This marks the first of such digital issuance in USD for Euroclear and the first by an Asia-based issuer on its platform. 

Euroclear is also actively engaged in exploring the full potential of digital assets and participates in various DLT projects with market partners. Alongside Digital Asset and The World Gold Council, it successfully completed a groundbreaking pilot to tokenise gold, Gilts and Eurobonds for collateral management. With the support of Paris Europlace, Euroclear worked with a group of French banks around its D-SI platform and Banque de France’s DL3S platform for Central Bank Digital Currency (CBDC) to issue the first Digitally Native Note (DNN) under French law and settled it in CBDC.

Streamlined management structure

Following the appointment of Valérie Urbain as CEO of the group, Euroclear redesigned the structure and composition of its top management team to accelerate strategy execution. A new, expanded Executive Committee composed of eight members ensures the representation of all the group’s constituents in all key strategic decisions and a stronger focus on clients, business operations and people – both in Europe and internationally.

Launch of the Euroclear Foundation to amplify social impact

Euroclear aims to make a significant positive social impact in the locations where it operates. By establishing the Euroclear Foundation, Euroclear will seek to improve lives and support the next generation by working to eliminate pressing social and environmental issues.

The Euroclear Foundation builds on the company’s existing initiatives aimed at increasing its social impact. These include a group-wide volunteering programme, long-term community partnerships and a Matching Gift programme to match employee donations.

Russian sanctions impacts 

Financial impacts of the Russian assets

  • Following the implementation of the EU windfall contribution regulation, Euroclear provisioned €4 billion as windfall contribution in 2024.
  • After retention of a 10% share of the windfall contribution to comply with capital and risk management requirements, Euroclear made a first payment for H1 2024 of approx. €1.55 billion to the European Fund for Ukraine in July 2024. A second payment for H2 2024 is expected to take place in March 2025 and should amount to approx. €2 billion.
  • Interest earnings related to Russian assets, which are subject to Belgian corporate tax, generated €1.7 billion tax revenue.
  •  The sanctions and Russian countermeasures resulted in direct costs of €94 million and a loss of business income of €27 million.
  •  Gradual rate cuts have led to a gradual decline in interest income related to the Central Bank of Russia’s assets in 2024 with the outlook for future interest earnings likely to continue to decline though dependent on future policymaking decisions.

Update on Russian sanctions and countermeasures

Russia’s invasion of Ukraine in February 2022 resulted in market-wide application of international sanctions. Euroclear considers the application of international sanctions as a key obligation. Therefore, well established processes are in place which have allowed the group to implement the sanctions while maintaining our normal course of business.

As a result of the sanctions, blocked coupon payments and redemptions owed to sanctioned entities continue to accumulate on Euroclear Bank’s balance sheet. At the end of December 2024, Euroclear Bank’s balance sheet totalled €212 billion, of which €183 billion relate to sanctioned Russian assets.

In line with Euroclear’s risk appetite and policies and as expected by the EU Capital Requirements Regulation, Euroclear’s cash balances are re-invested to minimise risk and capital requirements. In 2024, interest arising on cash balances from Russian-sanctioned assets was approximately €6.9 billion. Such interest earnings are driven by the prevailing interest rates and the amount of cash balances that Euroclear is required to invest. Subject to Belgian corporate tax, these earnings generated €1.7 billion tax revenue for the Belgian State. As such, future earnings will be influenced by the evolving interest rate environment.

Effective 15 February 2024, the EU Council adopted a Regulation requiring Central Securities Depositories (CSDs) holding reserves and assets of the Central Bank of Russia with a total value of more than €1 million to apply specific rules in relation to the cash balances accumulating due to restrictive measures. These CSDs, such as Euroclear Bank, should account for and manage such extraordinary cash balances separately from their other activities, should keep separate the net profit generated and should not dispose of these ensuing net profits (e.g. in the form of dividends to shareholders).

In May 2024, the European Commission has adopted a new regulation about a windfall contribution applicable to CSDs holding Russian Central Bank assets with a total value of more than €1 million. The profits generated by the reinvestment of these sanctioned amounts dating from 15 February 2024 onwards are required to be contributed to the European Fund for Ukraine. After retention of a 10% share of the windfall contribution to comply with capital and risk management requirements, Euroclear made a first payment of approx. €1.55 billion to the European Fund for Ukraine in July 2024. A second payment is expected to take place in March 2025 and should amount to approx. €2 billion.

Issued on 16 December 2024, the 15th EU sanctions package against Russia included a loss recovery mechanism which allows for the release of cash balances held by European CSDs under certain conditions. This derogation will enable CSDs to request competent authorities to unfreeze cash balances and use them to meet their legal obligations with their clients.

Euroclear continues to act prudently and to strengthen its capital by retaining the remainder of the Russian sanction related profits as a buffer against current and future risks. Euroclear is focused on minimising potential legal, financial, and operational risks that may arise for itself and its clients, while complying with its obligations.

As a direct consequence of the sanctions and countermeasures, Euroclear faces multiple proceedings in Russian courts. Since Russia considers international sanctions against public order, Russian claimants initiated legal proceedings aiming mainly to access assets blocked in Euroclear Bank’s books, by claiming an equivalent amount in Russian Ruble and enforcing their claim in Russia. Despite all legal actions taken by Euroclear and the considerable resources mobilised, the probability of unfavourable rulings in Russian courts is high since Russia does not recognise the international sanctions.

Euroclear Bank and Euroclear Holding are the two group issuing entities. The full year 2024 summary income statements and financial positions for both entities are shown below.

The drop in FY2024 figures compared to FY2023 reflects the booking of the windfall contribution related to the Central Bank of Russia’s (CBR) assets dating from 15 February 2024.

The evolution of FY2024 figures compared to FY2023 reflects the increase in intragroup dividend.

About Euroclear

Euroclear group is the financial industry’s trusted provider of post trade services. Guided by its purpose, Euroclear innovates to bring safety, efficiency, and connections to financial markets for sustainable economic growth. Euroclear provides settlement and custody of domestic and cross-border securities for bonds, equities and derivatives, and investment funds. As a proven, resilient capital market infrastructure, Euroclear is committed to delivering risk-mitigation, automation, and efficiency at scale for its global client franchise. The Euroclear group comprises Euroclear Bank, the International and Irish CSD, as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden and Euroclear UK & International.

[1] Excluding Russian assets impacts.

[2] Post deduction of dividend relating to 2023 earnings, including 2024 underlying profit and based on estimated underlying RWA of around €7.5 billion. Taking into account a 60% dividend pay-out on the 2024 adjusted underlying profit, the CET1 ratio is 51%.

 

Euroclear
Euroclear

 

Annexes
Annexes

 

Cash balances related to Russian sanctions
Cash balances related to Russian sanctions

 

“Business as usual” cash balances
“Business as usual” cash balances

 

Unaudited figures (in € million) as of 31 December 2024
Unaudited figures (in € million) as of 31 December 2024

 

Unaudited figures (in € million) as of 31 December 2024
Unaudited figures (in € million) as of 31 December 2024