30.3 C
Vientiane
Friday, September 5, 2025
spot_img
Home Blog Page 72

Bairong Inc. Announces 2025 Interim Financial Results

Revenue Grows Rapidly with Year-on-Year Increase in Net Profit Margin

BEIJING, Aug. 28, 2025 /PRNewswire/ — Bairong Inc. (the “Company”, “we” , “us” or “our” ; HKEX: 6608), a leading cloud-based AI turnkey service provider, today announced the interim results of the Group for the six months ended June 30, 2025.

Mr. Zhang Shaofeng, Founder, Chief Executive Officer and Chairman of the Board, commented:
“In the first half of 2025, the Company achieved a year-on-year revenue growth of 22% while maintaining sustained profitability. The revenue of our MaaS business increased by 19% year-on-year. Our BaaS business also achieved rapid growth, especially the revenue of the BaaS financial industry cloud driven by generative AI, which surged by 45% year-on-year. Our gross profit remained strong at over 70% while non-IFRS profit for the period reached 254 million, with a non-IFRS net profit margin of 16%. This demonstrates that our investments in the AI business have not only brought first-mover advantages but also achieved meaningful economies of scale. In terms of technology and products, relying on the intelligent voice product VoiceGPT and the Bairong enterprise-level intelligent agent platform CybotStar, we have deeply integrated our cross-industry AI capabilities into high-potential sectors such as telecom operators, medical care, and large-scale retail. Notably, the commercialization of the Bairong CybotStar enterprise-level intelligent agent platform has been commercialized.”

Financial Summary

Six months ended June 30,

2025

2024

Change

(unaudited)

(unaudited)

( %)

(RMB in thousands, except percentages)

Revenue

1,611,797

1,321,348

22

 Model as a service (“MaaS“)

501,941

421,352

19

 Business as a service (“BaaS“)

1,109,856

899,996

23

  BaaS – Financial Scenario

856,957

589,473

45

  BaaS – Insurance Scenario

252,899

310,523

-19

Gross profit

1,182,428

967,155

22

Operating profit

200,894

156,832

28

Profit for the period

201,224

142,833

41

Non-IFRS measures

Non-IFRS profit for the period

254,449

197,479

29

Non-IFRS EBITDA

282,539

243,481

16

Revenue 

For the six months ended June 30, 2025, our revenue reached RMB1,611.80 million, representing a period-over-period increase of 22% from RMB1,321.35 million for the six months ended June 30, 2024. During the Reporting Period, our non-IFRS profit was RMB 254.45million and our non-IFRS profit margin remained healthy at 16%, representing a period-over-period increase of 1 percentage point.

For the six months ended June 30, 2025, our MaaS business reported revenue of RMB 501.94million, representing an increase of 19% period-over-period, primarily attributable to expanded fields of application and enhanced product competitiveness combining AI algorithms to optimize product performance. During the Reporting Period, the number of Key Clients reached 167, while average revenue per Key Client was RMB 2.28 million. Our Key Client retention rate was 98%.

Key metrics of MaaS

Six months ended June 30,

2025

2024

Change

(unaudited)

(unaudited)

( %)

(RMB in thousands, except percentages)

Revenue from MaaS

501,941

421,352

19

 Revenue from Key Clients(Note)

380,534

329,398

16

  Number of Key Clients

167

165

1

  Average revenue per Key Client

2,279

1,996

14

Retention rate of Key Clients

98 %

96 %

2 pp

Note: Key Clients” are defined as paying clients that each contributes more than RMB300,000 total
revenue to the Company year-to-date.

For the six months ended June 30, 2025, our BaaS – Financial Scenario business reported revenue of RMB 856.96million, representing a year-over-year increase of 45% from RMB589.47 million for the six months ended June 30, 2024.In the first half of 2025, following the algorithm registration of our enterprise-grade agent platform, CybotStar, our proprietary large language model, BR-LLM, has now also completed registration as a national large-model. Leveraging BR-LLM, we have launched a comprehensive suite of AI products, including CybotStar, Digital Humans, VoiceGPT intelligent voice capabilities, and others. This forms a complete AI product ecosystem, creating a commercial closed loop from customized foundational models and mid-layer agent development to final solution delivery. As AI integration deepens across application scenarios, our BaaS Financial Scenario continues to capitalize on its strengths in scenario-driven AI to achieve breakthroughs in multiple sectors.

Key metrics of BaaS – Financial Scenario

Six months ended June 30,

2025

2024

Change

(unaudited)

(unaudited)

( %)

(RMB in thousands, except percentages)

Revenue from BaaS – Financial Scenario

856,957

589,473

45

In the first half of 2025, our BaaS – Insurance Scenario revenue decreased by 19% period-over-period to RMB 252.90million. Total premiums increased by 9% period-over-period to RMB 3,118.79million. In the first half of 2025, first year premiums increased by 5% period-over-period to RMB 2,006.15million. Renewal premiums increased by 15% period-over-period to RMB 1,112.64million. The persistency rate of life insurance premiums continued to exceed 90%, ranking among the top in the industry.

Key metrics of BaaS – Insurance Scenario

Six months ended June 30,

2025

2024

Change

(unaudited)

(unaudited)

( %)

(RMB in thousands, except percentages)

Revenue from BaaS – Insurance Scenario

252,899

310,523

(19)

 Revenue from first year premiums

203,963

254,658

(20)

  First year premiums

2,006,151

1,904,544

5

 Revenue from renewal premiums

48,936

55,865

(12)

  Renewal premiums

1,112,639

968,119

15

Cost of sales

Our cost of sales increased by 21% from RMB354.19 million for the six months ended June 30, 2024 to RMB429.37 million for the six months ended June 30, 2025, in line with the growth of our business scale.

Gross profit and gross margin

As a result of the foregoing, the Group’s gross profit increased by 22% from RMB967.16 million for the six months ended June 30, 2024 to RMB1,182.43 million for the six months ended June 30, 2025. The Group’s gross margin remained stable at 73%.

Research and development expenses

The Group’s research and development expenses increased by 33% from RMB225.88 million for the six months ended June 30, 2024 to RMB301.54 million for the six months ended June 30, 2025, primarily attributable to the increased investments at corporate level for AI. Research and development expenses as a percentage of revenue increased by 2pct to 19%.

General and administrative expenses

The Group’s general and administrative expenses were RMB140.21 million and RMB139.94 million for the six months ended June 30, 2025 and 2024, respectively, which remained stable on a period-over-period basis.

Sales and marketing expenses

Our sales and marketing expenses increased by 20% from RMB506.54 million for the six months ended June 30, 2024 to RMB606.28 million for the six months ended June 30, 2025, primarily due to an increase of RMB116.07 million in information technology services, promotion, advertising and other related expenses, which was mainly due to our continuous efforts to efficiently reach and engage users to improve conversion efficiency and the increased branding and business promotion to enhance our brand recognition.

Other income

Our net other income increased by 15% from RMB73.03 million for the six months ended June 30, 2024 to RMB83.75 million for the six months ended June 30, 2025. This is primarily due to the increase of RMB22.86 million in net gains on disposal of subsidiaries, partly offset by the increase in foreign exchange losses arising from depreciation of USD against RMB.

Profit for the year

As a result of the foregoing, the Group’s profit for the period increased from RMB142.83 million for the six months ended June 30, 2024 to RMB201.22 million for the six months ended June 30, 2025.

Cash, cash equivalents and time deposits

The Group had cash and cash equivalents of RMB833.52 million and cash reserve of RMB2,895.78 million as at June 30, 2025, compared to the balance of RMB739.23 million and RMB2,917.94 million as of December 31, 2024, respectively. The cash reserve included restricted cash, time deposits and treasury investments. During the six months ended June 30, 2025, the Company repurchased a total of 3,274,500 Class B Shares (the “Shares Repurchased”) on the Stock Exchange at an aggregate consideration (including transaction cost) of approximately HK$[25.78] million including expenses to enhance the Company’s shareholder value in the long run.

Conference Call

Our management will hold a conference call at 9:00a.m. Beijing / Hong Kong Time on Friday, August 29, 2025 to discuss the financial results and answer questions from investors and analysts.

For participants who wish to join the call, please complete online registration using the link provided below prior to the scheduled call start time.

Participant Online Registration:
https://webcast.roadshowchina.cn/kxb22E/meet

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

International: +86-23-62737100
Mainland China: 023-63623333/4008-063-263
HK China: +852-30183602/+800-961505

English Dial-in Password: 649518155
Chinese Dial-in Password: 320556788

Please scan the QR code in the poster below to register for the conference:


About Bairong Inc.

Bairong Inc. is a leading artificial intelligence (AI) technology services company. The Company applies natural language processing (NLP), privacy computing, machine learning, cloud computing and other technologies to provide services to enterprises through model-as-a-service (MaaS) and business-as-a-service (BaaS). The MaaS services leverage discriminant AI to digitalize the know-your-customer (KYC) and know-your-product (KYP) process for enterprises, by analyzing users’ risk, willingness, and capability. The BaaS services use discriminant AI to analyze and stratify users into groups and develops generative AI-powered VoiceGPT using human natural languages to interact with users. The Company’s products and services are widely used by enterprise customers in banking, consumer finance, insurance, e-commerce, automobiles, logistics, ticketing, energy, construction and other industries.

For more information, please visit: http://ir.brgroup.com

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements. These forward-looking statements can be identified by terminologies such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and the negative of these words and other similar expressions or statements. Bairong may also make written or oral forward-looking statements in its periodic reports to the HKEx, in its annual and interim reports to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about Bairong’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statements, including but not limited to the following: Bairong’s strategies, future business development, and financial condition and results of operations; Bairong’s limited operating history; risks associated with the financial service industry, Bairong’s ability to develop and deliver services of high quality and appeal to clients; Bairong’s ability to generate positive cash flow and profits; Bairong’s ability to compete successfully; Bairong’s ability to build its brand and withstand negative publicity; and changes in client demand and government incentives, subsidies, or other favorable government policies. Further information regarding these and other risks is included in Bairong’s filings with the HKEX. All information provided in this press release is as of the date of this press release, and Bairong does not undertake any obligation to update any forward-looking statements, except as required under applicable laws.

For investor inquiries, please contact:
Bairong Inc.
Ms. Sandy Qin, CFA, CMA, FCG HKFCG
Email: ir@brgroup.com

For media inquiries, please contact:
Bairong Inc.
Email: brmarketing@brgroup.com

AIP Capital and BeYoke Capital Form Strategic Partnership

AIP Capital and BeYoke have formed a strategic partnership to originate aircraft and engine investment opportunities for Japanese investors

DUBLIN and STAMFORD, Conn. and TOKYO, Aug. 28, 2025 /PRNewswire/ — AIP Capital (“AIP”), an alternative investment manager focused on opportunities in asset-based finance and BeYoke Capital (“BeYoke”), a global aviation specialty investment platform based in Japan, today announced the formation of a strategic partnership.

BeYoke
BeYoke

The partnership will originate aircraft and engine investment opportunities for Japanese investors via Japanese Operating Lease (“JOL”), Japanese Operating Lease with Call Option (“JOLCO”) structures, and secured loan products. As part of this partnership, AIP has made a minority investment in BeYoke and would join the board of directors. This positions AIP with a Japanese FSA licensed JOL / JOLCO arrangement platform and will go on to further expand AIP’s presence in the Asia-Pacific region.

“We are excited to formally begin this partnership with BeYoke,” said Scott Debano, Managing Director at AIP. “BeYoke is led by a team of experienced and well-respected market leaders. AIP and BeYoke are well aligned with a similar vision, and we believe this partnership will bolster both platforms while enhancing AIP’s financing capabilities and further grow our investor base and serve our airline customers across the globe.”

“We are pleased to announce this partnership to the market,” said Rion Sato, CEO of BeYoke Capital. “AIP has proven its capabilities as an origination partner and asset manager. We believe our shared core values and principles will enable us to deliver innovative solutions that align with the evolving needs of our airline partners and unlock diverse and creative investment opportunities for our investors.”

AIP Capital was advised by Morgan Lewis as lead counsel and KPMG on tax structuring.

About AIP Capital

AIP Capital (AIP) is a global alternative investment manager focused on opportunities in asset-based finance including aviation and equipment finance. AIP, together with its affiliates, manages approximately $4 billion of assets on behalf of a diversified global investor base. The AIP team is comprised of more than 40 experienced professionals across AIP’s offices in Stamford, New York City, Dublin, and Singapore.

For more information about AIP Capital or to speak with company executives, please contact investor.relations@aipcapital.com.

About BeYoke Capital

Established in 2021, BeYoke Capital (BeYoke) is an FSA-registered financial service provider that aims to build a global specialty investment platform for aviation assets. BeYoke was founded by a team of professionals with deep knowledge and experience in aviation and structured finance. BeYoke is committed to its core mission of creatively bridging the gap between global airlines with growing funding needs and investors seeking diverse opportunities.

For more information about BeYoke Capital or to speak with company executives, please contact info@beyoke.com.

Media Contact

AIP Capital
Geoffrey Bayers
investor.relations@aipcapital.com

BeYoke Capital
Kazuya Kurita
info@beyoke.com

 

Uni-Bio Science Group Announces 2025 Interim Results

EPS Surged to 1.27 HK Cents with a Three-year CAGR of 43.1%, Robust Revenue Growth Driven by Strong Demand for Bogutai® and Omnichannel Strategy


HONG KONG SAR – EQS Newswire – 28 August 2025 – A fully integrated biopharmaceutical company – Uni-Bio Science Group Limited (“Uni-Bio Science”, together with its subsidiaries referred to as the “Group”, stock code: 0690.HK), is pleased to announce its interim results for the six months ended 30 June 2025 (the “Period”).

Key Accomplishments in the First Half of 2025

During the Period, the Group achieved a spectrum of accomplishments, for both of its marketed products and innovative biologics. The key highlights include:

1. During the Period, the Group delivered solid financial results, with revenue achieved an increase of 13.4% year-on-year (“YoY”) and net profit reaching a record HK$76.0 million, up 12.7% YoY, while EPS increased from HK$0.62 cents in the first half of 2023 to HK$1.27 cents in the first half of 2025, representing a three-year CAGR of 43.1%. The growth this year was driven by the Group’s omnichannel strategy and increasing demand for Bogutai®, along with in the Group’s existing marketed drugs. Meanwhile, the Group strengthened its financial position, with improvements across all key liquidity ratios and overall financial resilience.
2. Since its official launch in March 2024, Bogutai® has steadily built market recognition and sustained growth momentum. Bogutai® has achieved solid progress in clinical uptake and patient enrollment, with over 8,000 new patients and 6,000 returning patients, and establishing a broad and in-depth market network across first- to fourth-tier markets. During the Period, revenue of Bogutai® increased substantially from approximately HK$18.8 million to approximately HK$65.6 million, representing a significant increase of 248.9%.
3. In May 2025, the Group’s second ophthalmology product, 金因康® (Diquafosol Sodium Eye Drops), received marketing approval from the China National Medical Products Administration (“NMPA”), marking a significant milestone in expanding the Group’s ophthalmic portfolio.
4. In July 2025, the marketing application of Isavuconazonium sulfoate capsules was officially accepted by the NMPA, marking a significant milestone for the Group in the field of antifungal treatment. Isavuconazonium sulfoate capsules is expected to be approved for launch in the second half of 2026.
5. In June 2025, the Group officially launched the high-end series GeneQueens™ of 肌顏態® and the medical device brand 金因敷®, marking a key milestone in its strategic expansion into the integrated “Drug, Medical Device, and Aesthetics” field.
6. During the Period, the Group is refocusing its R&D strategy on regenerative medicine. In particular, the Group is in discussions with leading regenerative medicine research institutions in China to establish industry–academic partnerships in this field, aiming to co-develop innovative therapies leveraging growth factors and regenerative medicine technologies, combining complementary strengths to accelerate research and further strengthen the Group’s leadership in biopharmaceutical innovation.

Interim Results

For the Period, the Group recorded revenue of approximately HK$310.2 million, representing an increase of 13.4% YoY. Revenue of Bogutai® increased substantially from approximately HK$18.8 million to approximately HK$65.6 million, representing a significant increase of 248.9%. Revenue generated from GeneTime® was approximately HK$107.8 million, representing an increase of 18.1% YoY. GeneSoft® recorded a mild decrease in revenue to approximately HK$18.5 million, representing a decrease of 2.1% YoY. Currently, the Group is preparing for GeneSoft® entry into medical insurance coverage, aiming for inclusion by the end of 2025, and providing a strong catalyst for future growth. Pinup® recorded a decrease of 22.7% in revenue to approximately HK$108.9 million for the Period. The Group was re-selected for the centralized procurement in 2024, with a validity period of two years. However, in response to certain local policy changes, the Group adopted a more selective approach to hospital supply. Hospitals in many provinces began procuring Boshutai® in 2025. Revenue from Boshutai® was approximately HK$6.1 million, representing a significant increase of 84.8%.
Gross profit was approximately HK$254.1 million, representing an increase of 10.2% YoY, whereas gross profit margin was 81.9% (first half of 2024:84.3%). The decrease in gross profit margin was primarily due to the recent addition of Bogutai®, which is still in the early stages of commercialization and had a relatively low output volume, resulting in higher product costs. Profit for the Period surged from approximately HK$67.4 million in the first half of 2024 to approximately HK$76.0 million, representing an increase of 12.7%. This result reflects the effectiveness of the Group’s strategic focus on operational efficiency, disciplined cost control, and targeted commercial execution, reinforcing its trajectory toward sustained profit growth and long-term value creation. The earnings per share reached approximately HK$1.27 cents, reflecting a growth of 16.5% YoY.

Prospects

China’s medical device industry is expected to grow at an 8.9% CAGR from 2023 to 2030, fueled by rising chronic diseases and innovation investment. Government policies like “Made in China 2025” and the 2025 “Measures to Support High-Quality Development of Innovative Drugs” promote drug innovation, expanded insurance, faster approvals, and prioritize key therapies, including pediatric, chronic, and infectious diseases. National procurement now favors innovation over price, supporting sustainable healthcare growth. Leveraging advanced synthetic biology, the Group is well-positioned to seize these opportunities and advance regenerative therapies in orthopedics, ophthalmology, dermatology, and medical aesthetics.
Looking forward, Mr. Kingsley Leung, Chairman of Uni-Bio Science said, “We are committed to pursuing a diversification strategy to ensure sustainability by driving product innovation and expanding marketing channels and geographical presence. During the Period, we achieved notable breakthroughs in our product portfolio. We received marketing approval of our new ophthalmology product, 金因康®, and antifungal product, isavuconazonium sulfoate capsules. Our medical aesthetic products also experienced a major launch with the introduction of the high-end GeneQueens™ series, along with a new medical device brand, 金因敷®.
We have implemented omnichannel strategies to broaden our customer base beyond traditional hospital networks. Our direct sales team works closely with multiple-tier hospitals, while our own flagship stores are established on all major Chinese online sales platforms. We will continue to grow our online presence and expand our distributor network to support offline marketing. Internationally, we are focusing on markets such as the U.S., Middle East, and Southeast Asia. Our FDA application for Bogutai® is progressing, with approval expected as early as 2027, targeting it as our first overseas commercial product.
During the Period, we further re-focused our R&D strategy in regenerative medicine. To enhance our core strengths and enter advanced therapies, we established two cutting-edge R&D platforms: the ECO-KSFA® Mini-protein Superfactory, which enables large-scale production of complex-structured polypeptides while significantly reducing costs; and the Biological Hydrogel Technology Platform, designed to incorporate active molecules such as growth factors for enhanced tissue engineering repair. These platforms form the basis of our R&D and will boost our product innovation.”

Hashtag: #UniBioScienceGroup

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

About Uni-Bio Science Group Limited

Uni-Bio Science Group Limited is principally engaged in the research and development, manufacture and distribution of pharmaceutical products. The research and development centre is fully equipped with a complete system for the development of genetically-engineered products with a pilot plant test base which is in line with NMPA requirements. The Group also has three GMP manufacturing bases in Beijing, Dongguan and Shenzhen. The Group also has a highly efficient commercialization platform and marketing network. The Group focuses on the development of novel treatments and innovative drugs addressing the therapeutic areas of endocrine such as diabetes and osteoporosis, ophthalmology and dermatology.

Uni-Bio Science Group Limited was listed on the Main Board of the Hong Kong Stock Exchange on November 12, 2001. Stock code: 0690.

SKF’s Capital Markets Day to be held on 11 November 2025

GOTHENBURG, Sweden, Aug. 28, 2025 /PRNewswire/ — SKF welcomes institutional investors, analysts and financial media to the Group’s Capital Markets Day on 11 November. During the event, participants will have the opportunity to gain deeper insights into the strategic direction of both the Industrial and the Automotive businesses post the planned separation of Automotive from the SKF Group, and how value is unlocked by being two standalone businesses.

Speakers on the Capital Markets Day will include President and CEO Rickard Gustafson as well as other members of Group Management. They will provide insights on the long-term value creation that the Automotive separation facilitates, including:

  • For the Industrial business: a clearer focus on distinct opportunities in targeted markets leveraging megatrends to enhance customer value and accelerate profitable growth.
  • For the Automotive business: reviewing market conditions and drivers and exemplifying how independent decision-making enables the speedy actions needed to adapt to a transforming, global automotive market, while also managing cost.

In addition, financial targets for the SKF Group post separation of the Automotive, i.e. the Industrial business, will be presented at the event. For the Automotive business, indicative financial objectives will be shared.

“We look forward to meet investors, analysts and media in November and present the progress in building two standalone businesses and how this will create even stronger Industrial and Automotive businesses,” says Rickard Gustafson, President and CEO.

Participants are welcome to attend in person at At Six, Brunkebergstorg 6 in Stockholm, Sweden. The Capital Markets Day, which will be held in English, will also be available online. The presentations will start at 13:00 (CET) and end around 17, followed by a mingle for those attending in person.

To participate (online or in-person), please register no later than 24 October 2025 at: https://invitepeople.com/events/fee9419f2a.

Please note that the number of participants attending in person is limited. More information on the agenda as well as logistics will be available on the registration site. For more information about SKF’s Capital Markets Day, please contact: cmd@skf.com.

Media: To book interviews with Rickard Gustafson after the event, please contact Carl Bjernstam on carl.bjernstam@skf.com.

Aktiebolaget SKF
(publ)

For further information, please contact:

Press Relations: Carl Bjernstam, +46 31-337 2517; +46 722 201 893; carl.bjernstam@skf.com 

Investor Relations: Sophie Arnius, +46 31-337 8072; +46 705 908072; sophie.arnius@skf.com 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skf/r/skf-s-capital-markets-day-to-be-held-on-11-november-2025,c4225638

The following files are available for download:

https://mb.cision.com/Main/637/4225638/3633288.pdf

20250828 SKF’s Capital Markets Day to be held on 11 November 2025

https://news.cision.com/skf/i/0901d196808e8d97-jpeg-fullresolution,c3464420

0901d196808e8d97 jpeg fullresolution

https://news.cision.com/skf/i/skf–47a6381-2,c3464419

SKF- 47A6381 2

 

Jinchang Power Supply Company’s “Electricity Stewards” Offer On-Site Solutions to Solve Enterprise Challenges

JINCHANG, China, Aug. 28, 2025 /PRNewswire/ — Recently, Shi Weilong and Liu Xuebin, staff members of State Grid Jinchang Power Supply Company, visited Jinchang Baye Hengtong Concrete Co., Ltd. to conduct electrical equipment inspection and energy efficiency diagnosis services. They thoughtfully reminded the enterprise manager: “Please check the distribution room regularly and pay close attention to the transformer operating status. Feel free to contact us with any electricity usage issues.”

Sun Jun, General Manager of Jinchang Baye Hengtong Concrete Co., Ltd., said that he now checks the enterprise’s electricity consumption analysis on the “State Grid Online” app every day. “Look at this electricity cost trend chart,” he said with a smile. “The average monthly electricity bill is now over 10,000 yuan less than before! The service from the power supply company truly hits the mark for us.”

When Shi Weilong and Liu Xuebin first visited in late autumn last year, Sun Jun was puzzled over a stack of electricity bills. The bills showed a “power factor of 0.75,” indicating inefficient electricity usage that incurred high monthly penalty fees, yet the equipment seemed to be running normally, and the root cause remained elusive.

Instead of jumping to conclusions, Liu Xuebin went directly to the production workshop and used an infrared thermometer to scan each motor one by one. Subsequently, with the cooperation of the plant electrician, they entered the distribution room for a detailed inspection. The diagnosis revealed severe oxidation of the capacitor cabinet contactor points, causing slow response, excessive no-load current in three motors, and the capacitor capacity had nearly halved. Liu Xuebin explained vividly: “The equipment’s electricity consumption fluctuates greatly, and the capacitor cabinet can’t adjust in time, just like a person breathing unevenly—it’s inevitably more strenuous.”

The next day, Shi Weilong and Liu Xuebin returned with a transformation plan. Addressing the enterprise’s concerns about affecting production, they clearly stated: “We will work during nighttime production breaks, running wiring during the day and replacing the cabinet after midnight, ensuring no disruption to normal production.” The capacitor cabinet upgrade was completed smoothly in just three days.

A month later, the electricity bill showed the power factor had improved to 0.98, reducing electricity costs by 18,000 yuan compared to the previous period. The company accountant excitedly ran into the workshop with the bill to share the news. Sun Jun repeatedly verified the data and exclaimed happily: “What we save is what we earn! The power supply company are truly our ‘Electricity Stewards’!”

This initiative is a snapshot of State Grid Jinchang Power Supply Company’s ongoing efforts to optimize the power business environment and promote service quality and efficiency. By offering proactive visits, energy efficiency diagnoses, and technical upgrades, the company helps enterprises reduce costs and increase efficiency, providing robust support for high-quality electricity usage.

State Grid Xinjiang Electric Power Co., Ltd.: Successful Launch of Intelligent Auxiliary Application for Substation Maintenance Operations

URUMQI, China, Aug. 28, 2025 /PRNewswire/ — On August 27, State Grid Xinjiang Electric Power Co., Ltd. successfully launched the intelligent auxiliary scene application for substation maintenance operations. This initiative marked the first-time realization of intelligent support throughout the entire maintenance process, significantly enhancing the efficiency and quality of frontline operations. This innovation effectively addresses the limitations of the traditional maintenance model in terms of efficiency and quality, and facilitates the transition of substation maintenance from an “experience-driven” approach to a “data- and intelligence-driven” methodology, thereby providing robust support for the intelligent transformation of power grid equipment management.

With the continuous expansion of the power grid equipment scale in Xinjiang, the workload associated with daily operations—including substation maintenance, inspections, and testing—has increased significantly. To meet the evolving management requirements of power grid equipment and accelerate the development of the new power system, State Grid Xinjiang Electric Power Co., Ltd. proactively undertook the “Intelligent Assistance for On-site Operations” special pilot tasks under the State Grid Artificial Intelligence initiative. The company established a dedicated team comprising business experts, artificial intelligence specialists, and resource support personnel, and implemented a closed-loop management mechanism based on monthly planning, weekly control, and daily consultation. Additionally, a systematic workflow was developed, encompassing expert database construction, intelligent agent orchestration, functional verification, and iterative upgrades.

Leveraging the PMS3.0 system and the Guangming large-scale AI model, the company successfully developed five intelligent entities: power outage planning, maintenance schemes, work ticket generation, operation card assistance, and test data analysis. These entities enable intelligent support across the entire maintenance business chain, ensuring accurate planning, comprehensive defect and hazard management, precise identification of safety risks, standardized process control, and thorough equipment evaluation.

To further enhance the intelligence and practical effectiveness of the application, State Grid Xinjiang Electric Power Co., Ltd. conducted on-site investigations to identify areas for improvement, continuously refined system functionalities, and provided frontline staff with digital empowerment tools to improve operational efficiency. Since the application’s launch across three pilot units—State Grid Xinjiang Electric Power Co., Ltd. Ultra High Voltage Branch, State Grid Xinjiang Electric Power Co., Ltd. Changji Power Supply Company, and State Grid Xinjiang Electric Power Co., Ltd. Hami Power Supply Company—a total of 3,082 tasks have been completed, 162 issues have been identified and resolved, and the system has undergone four rounds of iteration and optimization. Following a comprehensive evaluation, the intelligent auxiliary application has demonstrated significant performance improvements since its deployment. The time required for document preparation has been reduced by more than 50%, while the accuracy rate of content generation has exceeded 90%, resulting in substantial improvements in both safety and efficiency.

Looking ahead, State Grid Xinjiang Electric Power Co., Ltd. will continue to explore new application scenarios, enhance intelligent support capabilities, and establish exemplary use cases that are both user-friendly and widely adopted, with the ultimate goal of achieving continuous quality and efficiency improvements.

Baguio Green Group(01397.HK)Announces 2025 Interim Results

Profit Doubled to HK$59 million
Wins First Marine Cleansing Contract
Business Footprint Continues to Expand

HONG KONG, Aug. 28, 2025 /PRNewswire/ — Baguio Green Group Limited (”Baguio” or the ”Group”, Stock Code: 01397.HK) is pleased to announce its unaudited interim results for the six months ended 30 June 2025 (the “Period”).

During the Period, the Group’s revenue amounted to approximately HK$1,353.5 million, representing an increase of approximately 4.8% as compared to the same period last year. The overall gross profit margin increased from 7.5% for the same period last year to 9.8%, driving the overall gross profit up by approximately 37.0% to approximately HK$133.0 million. Profit for the Period amounted to approximately HK$58.8 million, representing an increase of approximately 128.1% as compared to the same period last year.

Business Overview and Prospects

The Group’s core business, cleaning services, recorded growth during the Period. Revenue from cleaning services increased by 4.0% to approximately HK$1,076.5 million, accounting for approximately 79.6% of the Group’s total revenue. Gross profit margin of the cleaning business increased from 6.4% for the same period last year to 7.9%, driving the gross profit up by 27.4% to approximately HK$84.7 million, mainly due to the Group’s new cleaning service contracts with various Government departments and different institutions. The Group’s cleaning services cover various scenarios, including Government streets, markets, leisure venues, hospitals and clinics. Other cleaning sites cover numerous different places such as universities, large exhibition centers, Hong Kong International Airport, housing estates and private institutions.

Waste management and recycling business recorded revenue of approximately HK$145.3 million, accounting for approximately 10.7% of the Group’s total revenue. The gross profit margin of the waste management and recycling business surged significantly from 12.9% for the same period last year to 19.2%, driving the gross profit of this business up by approximately 46.6% to approximately HK$28.1 million, mainly due to the Government’s proactive promotion of recycling and the substantial expansion of the network of recycling spots, including those for food waste, which facilitated public participation and effectively stimulated collection, and the contribution from the green technology business. The Group continued to provide Government-related waste collection services for five districts, serving a population of approximately 1.6 million. In terms of recycling, the Group is contracted by the EPD of the Government to provide collection services for thousands of recycling spots (including plastics, glass bottles, metals, waste paper and food waste) across Hong Kong. During the Period, the Group provided collection services for recycling bins in public places and schools. Baguio also provides collection services for Recycling Stations of “GREEN@COMMUNITY”, introduced by the EPD, recycling stores and smart recycling machines, and other institutions in Hong Kong. In addition, the Group also provides the Government with glass bottles collection and management services and food waste collection services in several districts in Hong Kong, and is one of the market leaders.

Regarding green technology business, the Group won a new contract to supply the Government with a new generation of solar-powered compacting refuse bins. This innovative product is designed with an auto-sensing inlet and indicator lights, and under its sealed design, it is equipped with devices for ventilation, lighting, and deodorization. Meanwhile, it is equipped with a big data platform and wireless technology to monitor data in real time, enabling effective tracking of the status of waste collection points, strategic deployment of resources, optimization of operational efficiency, and enhanced planning for future initiatives. Furthermore, the solar-powered compacting refuse bins adopt solar panels and rely on renewable energy, which significantly reduces carbon emissions. They can be flexibly deployed in various scenarios, suitable for remote areas where there are no refuse collection points. This product is expected to be gradually launched into the market in the year.

The Group seized the opportunity of smart city development and has been committed to expanding its market share of smart recycling in recent years. Currently, Baguio’s smart recycling products, such as smart recycling machines, smart food waste recycling machines, and smart balances, have been deployed in different places across Hong Kong, including Government venues and schools, private housing estates, commercial buildings, theme parks, large-scale exhibition venues, and sports stadiums. These products provide the public with convenient recycling services 24 hours a day and help increase Hong Kong’s overall recycling volume.

In partnership with Jardine Engineering Corporation Limited, the Pilot Biochar Production Plant at the EcoPark in Tuen Mun has commenced operation. By converting yard waste into high-quality biochar with pyrolysis technology for various applications, the production plant effectively “turns waste into useful resources”.

As for the landscaping business, the Group provides landscaping services for a wide range of clients, including large private residences, Government premises, schools, shopping malls, hotels, airports, Hong Kong Housing Authority, Hong Kong Jockey Club, Hong Kong Science Park, the University of Hong Kong, Hong Kong University of Science and Technology and Lingnan University, etc. During the Period, the Group provided landscaping services for Kai Tak Sports Park, Hong Kong International Airport, Hong Kong-Shenzhen Innovation and Technology Park, Nano Parks, and the Tung Chung New Town Extension (West).

For pest management business, the Group continued to provide pest management services in Wong Tai Sin and Tai Po districts during the Period. In addition, the Group provided termite control and monitoring services to 29 monuments under the Antiquities and Monuments Office and 24 temples under the Chinese Temples Committee respectively.

As of 30 June 2025, the Group’s contracts on hand amounted to approximately HK$3.10 billion, providing considerable revenue for subsequent years.

Subsequent to the Reporting Period, the Group has been successfully awarded a 3-year contract from the Marine Department of the Government for approximately HK$150 million for the provision of “Marine Refuse Cleansing and Disposal Services in the Eastern Waters of Hong Kong“. This contract marks a significant milestone for Baguio, as it represents a strategic expansion of its service portfolio from land to sea, further strengthening its leading position in Hong Kong’s integrated environmental services market. Under the contract, Baguio will deliver comprehensive marine refuse cleansing and ship refuse collection services in the Eastern Waters of Hong Kong starting from 1 October 2025 including, but not limited to: Victoria Harbour, Central, Sheung Wan, Causeway Bay, Tsim Sha Tsui, Yau Ma Tei, Cheung Sha Wan, Shau Kei Wan, Kwun Tong, Sai Kung, Tolo Harbour and Tai Po. Winning this contract signifies strong market recognition of Baguio’s outstanding performance over the past 45 years. The Group will seamlessly extend its professional standards and operational efficiency in land-based waste management to the marine environment, striving to safeguard Hong Kong’s valuable marine ecosystem and present a cleaner, more beautiful Victoria Harbour to both residents and tourists.

Recently, the Group has been successfully awarded two 35-month contracts from the EPD, with a total value of approximately HK$43 million. Starting from September 2025, the Group will be responsible for operating the “GREEN@Tai Wo” and “GREEN@Po Lam” recycling stores, and will collaborate with nearby buildings, organizations, and community stakeholders to establish and operate fixed and mobile recycling spots for waste collection, provide community recycling support to facilitate citizens, and promote and educate the public on waste sorting and recycling in the community to strengthen citizens’ recycling habits.

In addition, the Promotion of Recycling and Proper Disposal of Products (Miscellaneous Amendments) Bill 2025 submitted by the Government was passed by the Legislative Council on 23 July 2025. This bill establishes a common legal framework for producer responsibility scheme applicable to different products. Under this framework, the Government plans to submit the producer responsibility scheme on plastic beverage containers and beverage cartons in the coming year. The scheme encourages citizens to return used containers for recycling to earn rebate, which will help significantly increase the recycling rate. Benefiting from the scheme, Baguio’s recycling volume is expected to be directly driven up, providing attractive returns for the Group’s long-term investments in recycling services and competitive barriers.

The Government is actively developing the Northern Metropolis. Four new development areas include Kwu Tung North/Fanling North, Hung Shui Kiu/Ha Tsuen, Yuen Long South, and San Tin Technopole are under construction. The Government has resumed more than 400 hectares of private land within these four new development areas, completed land levelling for 80 hectares, and is progressively handing over these lands to relevant departments for building road and railway infrastructure, public and private housing, schools, public markets, ecological conservation, as well as development of innovation and technology industry. The Group believes that this will bring opportunities for many of its core businesses.

Looking forward, the Group will continue to increase the market share of its core businesses and proactively engage in expansion in Hong Kong and beyond. Meanwhile, in line with the development of the Company, it will actively explore potential mergers and acquisitions, joint ventures or new business projects to accelerate future business growth and deliver substantial and long-term returns to shareholders.

For details of the Group’s 2025 interim results announcement, please visit the following website:
https://www.baguio.com.hk/en/investor/notices/ 

– End-

About Baguio Green Group

Established in 1980, Baguio Green Group (Stock code: 01397.HK) is one of Hong Kong’s largest integrated environmental management solution providers. It provides a full spectrum of professional services including professional cleaning, waste collection & recycling, waste management, green technology, green products, horticulture & landscaping, and pest control. The Group delivers innovative environmental solutions using the latest technologies to serve a wide range of customers in various sectors including Government departments, statutory organizations and multinational corporations. Fully committed to ESG, the Group works relentlessly to advance sustainable development and create a cleaner, greener, healthier city for a greener tomorrow.

Rain Raises $58M Series B Led By Sapphire Ventures to Become the Enterprise Stablecoin Platform of Record

Rain has experienced 10x growth in 2025 and now powers service to 1.5B+ people through a single integration

NEW YORK, Aug. 28, 2025 /PRNewswire/ — Rain, the enterprise-grade infrastructure for stablecoin-powered payments, today announced a $58 million Series B funding round led by Sapphire Ventures, with participation from Dragonfly, Galaxy Ventures, Endeavor Catalyst, Samsung Next, Lightspeed, and Norwest. The raise brings Rain’s total funding to $88.5M and comes just five months after the company’s Series A — cementing Rain’s role as the single integration global fintechs, banks, and marketplaces use to launch compliant stablecoin-powered cards, wallets, and payment programs.

Enterprise interest in stablecoins has surged following the GENIUS Act in the U.S. and the MiCA framework in Europe, which have created a clear regulatory path for adoption. Rain’s vertically integrated platform enables partners to embed stablecoins into products and operations — covering money-in, storage, spending, and money-out — all through one API. Partners can compliantly launch programs to over 1.5 billion people today, with expansion underway into Europe, the Middle East, Africa, and Asia-Pacific.

Rain has pioneered making stablecoins instantly usable anywhere Visa is accepted through its physical and virtual card programs, processing millions of transactions across 150+ countries. The company’s transaction volume has grown 10x since January 2025, with portfolio partners — including Nuvei, Avalanche, Dakota, and Nomad — using Rain’s infrastructure for merchant payouts, everyday consumer purchases, B2B spend, and cross-border payroll.

“Stablecoins are shifting to the backbone of global commerce,” said Farooq Malik, CEO and Co-founder of Rain. “In its earliest form, money moved instantly. We’ve spent centuries slowing it down. Rain is bringing that simplicity back to billions of people, but now it works across any border, any platform, and any currency.”

Rain is a Visa Principal Member and uniquely settles 100% of card payment volume directly in stablecoins on the Visa network. The platform is built natively for stablecoins, not retrofitted from fiat rails, and meets enterprise compliance standards including PCI DSS, SOC 2, and audited smart contracts.

“Stablecoins have scaled to hundreds of billions in circulation, but until now, they couldn’t be easily spent. Rain is working to fix that by connecting stablecoins to Visa’s global network, turning them into money you can actually use for everyday commerce. We’re proud to partner with Farooq, Charles, and the Rain team as they redefine the future of payments,” said Jai Das, President and Partner at Sapphire Ventures, as well as Rain’s newest Board Director.

The new funding will be used to expand Rain’s platform and services to give global institutions the most flexible, modular, and compliant stablecoin infrastructure available. The company is also investing in hiring across engineering, commercial, and compliance teams; helping existing partners scale programs; and entering into new markets where enterprises are embracing stablecoin-based payment workflows.

About Rain: Rain is the global stablecoin infrastructure platform for enterprises, neobanks, platforms, and developers. Our technology allows partners to move, store, and use stablecoins instantly and compliantly through global payment cards, on/off-ramps, wallets, and cross-border rails. As a Visa Principal Member, Rain issues cards that work anywhere Visa is accepted, powering millions of purchases in over 150 countries. Built natively for stablecoins and trusted by more than 100 organizations worldwide, Rain delivers secure, scalable infrastructure that makes money move freely and instantly around the world. Learn more at https://www.rain.xyz/.

About Sapphire Ventures: Sapphire is a global software venture capital firm with over $11 billion in AUM and team members across Austin, London, Menlo Park and San Francisco. For more than two decades, Sapphire has partnered with visionary management teams and venture funds to back companies of consequence. Since its founding, Sapphire has invested in more than 170 companies globally resulting in more than 30 Public Listings and 45 acquisitions. The firm’s investment strategies — Sapphire Ventures, Sapphire Partners and Sapphire Sport — are focused on scaling companies and venture funds, elevating them to become category leaders. Sapphire’s Portfolio Growth team of experienced operators delivers a strategic blend of value-add services, tools and resources designed to support portfolio company leaders as they scale.

Media Contact:
Lucas Piazza
Marketing Lead, Rain
lucas@rain.xyz