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6x Registration Surge: Xtep 2026 10KM Time Trial Sets New Professional Standard in Kuala Lumpur

More Than a Race – Xtep Empowers Runners to Level Up

KUALA LUMPUR, Malaysia, May 14, 2026 /PRNewswire/ — On May 9, 2026, Xtep, a leading professional sportswear brand, successfully held its 2026 10KM TIME TRIAL in Kuala Lumpur, Malaysia. This marked the brand’s second consecutive professional 10KM running event in Malaysia, reinforcing its long-term commitment to building a professional running ecosystem in Southeast Asia.

Malaysia 10KM Time Trial On-site Photos
Malaysia 10KM Time Trial On-site Photos

Prior to dawn, 1,500 selected participants from Malaysia and five regions—Southeast Asia, East Asia, West Asia, the Middle East, Africa, and Europe—gathered at the start zone. With the participation of prominent local running clubs, the event presented a highly professional, focused and competitive racing atmosphere.

The event received an overwhelming response from the running community. Since registration opened on February 14, nearly 10,000 applications were received within one month, exceeding the 1,500 available spots by more than six times. The strong demand clearly reflects the local market’s urgent need for professional, well-organized 10KM racing events.

Runners provided consistent positive feedback, stating that Malaysia has long been lacking professional 10KM races and high-quality event organization. Xtep 10KM TIME TRIAL effectively filled this gap with standardized operation and professional race services. This result demonstrates Xtep’s accurate insight into running scenarios, deep understanding of runner needs, and proven experience in delivering professional running platforms.

In response to the strong enthusiasm from runners and running clubs, Xtep is considering hosting an additional large-scale 10KM event in the second half of 2026. The potential event is expected to expand recruitment coverage to the entire Southeast Asia region, introduce a veteran category, engage more running clubs, and launch a running club points ranking system, creating a regional competitive racing festival.

Photos of Award-winning Runners at Malaysia 10KM Time Trial
Photos of Award-winning Runners at Malaysia 10KM Time Trial

After intense competition, the top performers are as follows:

  • Overall Men’s Champion: NGARE JOSEPH MWANGI (Kenya), 00:31:28
  • Malaysian Men’s Champion: YEOW NI JIA, 00:34:37
  • Malaysian Women’s Champion: CHAN ANNE SZE, 00:44:15
  • International Women’s Champion: NGETICH EMILY, 00:38:17

The event brought together elite runners across Malaysia, promoting experience sharing and encouraging participants to challenge their personal limits.

On-site photos of the workshop
On-site photos of the workshop

Following the race, Xtep held a running footwear workshop at its Mid Valley Megamall store. Wu Lianyin, General Manager of Xtep Running Development Center, delivered a speech, highlighting Xtep’s continuous investment in product technology innovation and its support for runners to achieve personal bests and set marathon records.

Zhuang Yan, Senior Manager of Product Development, introduced Xtep’s latest running footwear products, including the in-store debut of the 2000KM 5.0 series and the new 360X 3.0 from the brand’s Q2 training lineup.

  • Xtep 2000KM 5.0: Focused on durability and versatility, DIN abrasion resistance 18mm³, suitable for daily commuting, jogging and training, pace 4:30–8:00 min/km.
  • Xtep 2000KM 5.0 PRO: Plate-free design with balanced cushioning and stability, suitable for training, racing and long-distance running, pace 4:30–7:00 min/km.
  • Xtep 360X 3.0: Equipped with BT400 composite carbon plate for a smooth running experience, lowers the threshold of carbon plate technology, suitable for daily training, pace 6:30–8:30 min/km.

Zhuang mentioned that the 160X series focuses on racing performance, while the 2000KM 5.0 series and 360X 3.0 prioritize daily training and user experience, helping runners build a stable performance foundation.

As Xtep’s second 10KM TIME TRIAL in Malaysia, this event further consolidated the brand’s global running positioning. Through professional races, product experience workshops and in-store activities, Xtep continues to build a sound local running community. With high-performance products and professional event platforms, Xtep maintains close connections with runners, supporting their growth from daily training to racing breakthroughs.

Noah to Report First Quarter 2026 Unaudited Financial Results on May 27, 2026

SINGAPORE, May 14, 2026 /PRNewswire/ — Noah Holdings Limited (the “Company” or “Noah”) (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive advisory services on global investment and asset allocation primarily for global Chinese high-net-worth investors, today announced that it will report its unaudited financial results for the first quarter ended March 31, 2026, after U.S. markets close on May 27, 2026.

Noah’s management team will hold an earnings conference call at 8:00 p.m. U.S. Eastern Time on Wednesday, May 27, 2026 (8:00 a.m. Beijing/Hong Kong Time on Thursday, May 28, 2026). 

The conference call may be accessed with the following details:

Dial-in details:

Conference title:

Noah Holdings Limited First Quarter 2026 Earnings Conference Call

Date/Time:                               

Wednesday, May 27, 2026, at 8:00 p.m., U.S. Eastern Time

Thursday, May 28, 2026, at 8:00 a.m., Hong Kong Time

Dial in:

– Hong Kong Toll Free:

800-963976

– United States Toll Free:

1-888-317-6003

– Mainland China Toll Free:

4001-206115

– International Toll:

1-412-317-6061

Participant Password:

4079483

A telephone replay will be available starting approximately one hour after the end of the conference until June 3, 2026 at 1-855-669-9658 (US Toll Free) and 1-412-317-0088 (International Toll) with the access code 9501982.

A live and archived webcast of the conference call will be available on the Company’s investor relations website under the “News & Events” section at http://ir.noahgroup.com.

ABOUT NOAH HOLDINGS LIMITED

Noah Holdings Limited (NYSE: NOAH and HKEX: 6686) is a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for global Chinese high-net-worth investors. Noah’s American depositary shares, or ADSs, are listed on the New York Stock Exchange under the symbol “NOAH,” and its shares are listed on the main board of the Hong Kong Stock Exchange under the stock code “6686.” One ADS represents five ordinary shares, par value $0.00005 per share.

In 2025, Noah distributed RMB67.0 billion (US$9.6 billion) of investment products. Through Gopher Asset Management and Olive Asset Management, Noah had assets under management of RMB141.7 billion (US$20.3 billion) as of December 31, 2025.

Founded in 2005, the firm pioneered a business model combining wealth management and asset management and has continued to build its international platform over the years. As of December 31, 2025, Noah had 467,870 registered clients. Through its wealth management platform, the Group distributes private equity, public securities, and insurance products denominated in RMB and other currencies, while its asset management capabilities support broader global asset allocation needs. As of December 31, 2025, Noah had established branches and service capabilities across mainland China, Hong Kong SAR, Singapore, Japan, and key U.S. markets, including New York, Los Angeles, and Silicon Valley, reflecting its international operating footprint.

For more information, please visit Noah’s investor relations website at ir.noahgroup.com.

SAFE HARBOR STATEMENT

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Noah may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), 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 Noah’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. These statements include, but are not limited to, estimates regarding the sufficiency of Noah’s cash and cash equivalents and liquidity risk. A number of factors could cause Noah’s actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: its goals and strategies; its future business development, financial condition and results of operations; the expected growth of the wealth management and asset management market in China and internationally; its expectations regarding demand for and market acceptance of the products it distributes; investment risks associated with investment products distributed to Noah’s investors, including the risk of default by counterparties or loss of value due to market or business conditions or misconduct by counterparties; its expectations regarding keeping and strengthening its relationships with key clients; relevant government policies and regulations relating to its industries; its ability to attract and retain qualified employees; its ability to stay abreast of market trends and technological advances; its plans to invest in research and development to enhance its product choices and service offerings; competition in its industries in China and internationally; general economic and business conditions globally and in China; and its ability to effectively protect its intellectual property rights and not to infringe on the intellectual property rights of others. Further information regarding these and other risks is included in Noah’s filings with the U.S. Securities and Exchange Commission and the Hong Kong Stock Exchange. All information provided in this press release and in the attachments is as of the date of this press release, and Noah does not undertake any obligation to update any such information, including forward-looking statements, as a result of new information, future events or otherwise, except as required under the applicable law.

 

New Tokens Average at 2,341%, TradFi Futures Volume Climbs 55%: MEXC April Report

VICTORIA, Seychelles, May 14, 2026 /PRNewswire/ — MEXC, a pioneer in 0-fee digital asset trading, has published its April 2026 Trading Highlights report. The top 10 new tokens averaged a 2,341% peak gain (1.6x March’s figure), new token volume per user climbed 46% month-over-month, and TradFi futures volume per user rose 55% as easing US-Iran tensions sent traders into precious metals and energy futures.

New Tokens Average at 2,341%, TradFi Futures Volume Climbs 55%: MEXC April Report
New Tokens Average at 2,341%, TradFi Futures Volume Climbs 55%: MEXC April Report

Three tokens led the highest-gain ranking, each from a different sector. PROS topped the list at +5,433% on RWA, GENIUS hit +4,718% on the DeFi track, and IPEPE combined Meme and AI for +3,500%. Neither PROS nor IPEPE appeared in the trading-volume top 10, showing that April’s outsized returns weren’t confined to the most-traded tickers.

ETH carried the active end of the market and claimed 4 of the top 10 spots by trading volume, roughly 59% of the Top 10 total. ASTEROID and FLORK kept the Meme run going on ETH, BLEND covered the reputation data layer, and AI took the decentralized AI infrastructure slot.

The remaining six tokens spread to BSC (GENIUS), ARB (CHIP), BASE (OPG), SOL (UNC and BULL), and MEZO.

On the TradFi side, US-Iran tensions eased early in the month, oil prices pulled back sharply, and rate expectations moved gold and equities. Against that backdrop, users moved beyond crypto and used the same accounts to trade commodity and equity futures.

XAUT, SILVER, USOIL, and UKOIL took the top four spots in TradFi futures volume. Precious metals XPD and PAXG also made the top ten, alongside stock indices SPX500 and JP225 and US equities TESLA and NVIDIA.

EUR took first place in TradFi spot volume with a 98% MoM jump and held 57% of Top 10 spot volume. Gold (XAUT and PAXG combined) held another 35%, so a single foreign currency and a single asset accounted for over 90% of the spot top 10.

“April was a month of recalibration,” said Vugar Usi, CEO of MEXC. “Users moved across Meme, AI infrastructure, and BTCFi within weeks, then shifted toward gold and oil futures as the geopolitical picture changed. The role of a platform like MEXC is to make those transitions fast, cost-efficient, and seamless, while ensuring the next major market narrative is already accessible when momentum begins.”

On the promotional side, Airdrop+ changed to a curated model this month and ran 14 events on new tokens, including GENIUS, MEZO, ENM, and KAG. The GENIUS event paid up to 1,000 USDT per user for basic deposit and trading tasks, a low-cost entry point for a token that hit a +4,718% peak gain during the month.

Launchpool added a BTC staking pool to its existing MX option, so holders who don’t actively trade can earn new token rewards from idle BTC. New users on EMBLEM saw APRs as high as 207% under the new design.

The full report, with detailed breakdowns of new token performance, TradFi contract rankings, and promotional activity, is available here.

About MEXC

MEXC is the world’s fastest-growing cryptocurrency exchange, trusted by more than 40 million users across 170+ markets. Built on a user-first philosophy, MEXC offers industry-leading 0-fee trading and access to over 3,000 digital assets. As the Gateway to Infinite Opportunities, MEXC provides a single platform where users can easily trade cryptocurrencies alongside tokenized assets, including stocks, ETFs, commodities, and precious metals.

MEXC Official Website X TelegramHow to Sign Up on MEXC

ACES Institute Confers Distinguished Fellow Recognition upon Letright CEO Ren Li

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 14 May 2026 – The ACES Institute today conferred its Distinguished Fellow recognition upon Letright Founder and Chief Executive Ren Li during a leadership dialogue hosted in collaboration with Monash University Malaysia and the UN-supported Principles for Responsible Management Education (PRME).

Ren Li with the ACES Institute and Monash University team following the leadership dialogue and fellowship conferment.
Ren Li with the ACES Institute and Monash University team following the leadership dialogue and fellowship conferment.

Held at the Plenary Theatre at Monash University Malaysia, the forum, titled Responsible Leadership in Asia: A Case Dialogue on Practice and Impact, brought together business leaders, academics, and sustainability advocates to examine how companies can scale globally while maintaining responsible governance.

The recognition marks the latest milestone for Li, a previous recipient of the Responsible Business Leader accolade (ACES Awards 2024) and Entrepreneur of the Year (ACES Awards 2025). Under his leadership, Letright has emerged as one of China’s premier outdoor furniture exporters, operating in over 70 countries.

Speaking at the dialogue, Li emphasized that responsible leadership should be an industry-wide standard rather than a niche competitive advantage. “I welcome competition because responsible business leadership should continue expanding across the industry,” said Ren Li. “The market is large enough for everyone. What matters more is building businesses that grow sustainably and responsibly over the long term.”

Moderated by Associate Professor Dr. Esther Chong of Monash University Malaysia’s School of Business, the discussion explored ethical decision-making across global supply chains. “Ren Li’s journey demonstrates that profitability and principled leadership can reinforce one another,” noted Dr. Chong.

Dr. Shanggari Balakrishnan, President of the ACES Institute and CEO of MORS Group, stated that the fellowship reflects the organization’s mission to champion ethical leadership. “Ren Li represents a new generation of leaders who understand that accountability, resilience, and purpose are central to long-term success,” she said.

The dialogue successfully bridged academic insight with real-world executive experience, offering a closer look at applying responsible principles amid growing global scrutiny. The event concluded with a networking luncheon for representatives from academia and the international business community.

Hashtag: #ACESInstitute

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

ACES Institute

The ACES Institute, MORS Group’s research arm, promotes Asian leadership and sustainability. It bridges academic insight and corporate practice through fellowships and partnerships to champion ethical excellence and responsible entrepreneurship.

China Telecom Leads ALC Submarine Cable Landing in Hong Kong


HONG KONG SAR – Media OutReach Newswire – 14 May 2026 – On May 14, 2026, the Asia Link Cable (ALC) international submarine cable, led and constructed by China Telecom, has successfully landed at the Chung Hom Kok Cable Landing Station in Hong Kong, China. The successful landing marks a key milestone in the project’s construction and lays a solid foundation for its subsequent full commercial operation.

China Telecom Leads ALC Submarine Cable Landing in Hong Kong

Led by China Telecom and jointly developed by 13 leading operators across the Asia-Pacific region, the ALC system spans approximately 6,200 kilometers, connecting China (Hong Kong and Hainan), Singapore, the Philippines, Vietnam, Brunei and Malaysia, with a total designed capacity exceeding 325 Tb/s. Once completed, ALC will become the highest-capacity international submarine cable for the Hong Kong-to-Singapore route, and marks another new submarine cable landing in Hong Kong by China Telecom following the full commissioning of the ADC submarine cable in 2025. The ALC system will efficiently support the growing transmission demands for high-bandwidth and low-latency transmission driven by cloud computing, AI large models and other emerging digital applications, while providing strong communications infrastructure support for the development of Hong Kong’s international innovation and technology hub.

As the largest investor in the project, China Telecom has undertaken core management responsibilities and played a leading role in driving the project throughout the entire process, from preparation, planning and design to construction. The ALC system represents an important strategic initiative in strengthening China Telecom’s international communications backbone network across the Asia-Pacific region. After it goes into service, it will add more than 100 Tb/s of bandwidth capacity for China Telecom, significantly enhancing its network capacity, connectivity and traffic scheduling capabilities across the region.

In addition, ALC is China Telecom’s first international submarine cable landing in Hainan. It will effectively fill gaps in Hainan’s international communications capacity toward Hong Kong, Macao and Southeast Asia – serving as a key initiative for China Telecom to implement the strategy for building the Guangdong-Hong Kong-Macao Greater Bay Area and to support the Belt and Road Initiative.

The Chung Hom Kok Cable Landing Station in Hong Kong, where the ALC submarine cable landed this time, is China Telecom’s first self-built submarine cable landing station outside mainland China. Going forward, the station will continue to handle landing tasks for international submarine cables heading to multiple regions and directions, including the Asia-Pacific, Asia-Europe and other regions- further strengthening Hong Kong’s position as a key communications hub in the Asia-Pacific region and supporting China Telecom build a more comprehensive global communications network.Hashtag: #ChinaTelecom

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

Canadian Solar Reports First Quarter 2026 Results and Announces Appointment of Chief Executive Officer

KITCHENER, ON, May 14, 2026 /PRNewswire/ — Canadian Solar Inc. (“Canadian Solar” or the “Company”) (NASDAQ: CSIQ) today announced financial results for the first quarter ended March 31, 2026.

First Quarter Highlights

  • Solar module shipments of 2.5 GW, above guidance of 2.2 GW to 2.4 GW.
  • Energy storage shipments of 2.1 GWh, exceeding guidance of 1.7 GWh to 1.9 GWh.
  • Net revenues of $1.1 billion, at the high end of $900 million to $1.1 billion guidance.
  • Gross margin of 25.1%.
  • Commenced trial production at the flagship HJT solar cell factory in Jeffersonville, Indiana, marking a key milestone in U.S. domestic manufacturing, with commercial operation targeted to begin in July 2026.
  • Appointment of Mr. Colin Parkin as Chief Executive Officer, effective May 14, 2026. Mr. Parkin previously served as President of Canadian Solar. Dr. Shawn Qu, the Company’s founder, will transition from Chairman and Chief Executive Officer to the roles of Executive Chairman and Chief Technology Officer.

Dr. Shawn Qu, Executive Chairman and CTO, commented, “Canadian Solar’s journey from its founding in Ontario to its current position as a global leader in integrated clean energy is a testament to our enduring resilience. We have consistently evolved, and today we are navigating a pivotal shift from volume-driven expansion to value-driven leadership. This evolution calls for thoughtful leadership succession, and I am incredibly proud to transition the Chief Executive role to Colin Parkin, whose execution and operational leadership have already established our first-mover advantage in the energy storage sector. As I dedicate my focus to advancing our technological roadmap, we are deepening our commitment to our U.S. manufacturing footprint. Our Jeffersonville solar cell facility has entered trial production, and commercial operation is expected to commence in about two months. Coupled with the capacity expansion at our Mesquite module plant, we are helping strengthen the American solar supply chain to ensure long-term, sustainable growth.”

Dr. Shawn Qu founded Canadian Solar Inc. in Mississauga, Ontario 25 years ago. He holds a Ph.D. in Materials Science from the University of Toronto, an M.Sc. in Physics and an honorary doctorate from the University of Manitoba, and a B.Sc. in Physics from Tsinghua University. Dr. Qu has been a Fellow of the Canadian Academy of Engineering since 2019.

Colin Parkin, CEO of Canadian Solar, said, “We began the year with strong execution, exceeding guidance across all metrics. We delivered 2.5 GW of solar modules globally with an optimized mix of U.S. volumes. We maintained a disciplined approach to solar module shipments throughout the quarter, strategically managing volumes in response to elevated feedstock costs—including silver—to protect profitability. Our domestic manufacturing in the U.S. contributed robust margins, as we continue to reshore our supply chain. In our energy storage segment, we recognized revenue on 2.1 GWh of volume, supported by smooth construction progress across multiple customer sites. We will build on this momentum, with storage volumes expected to reach record levels in the second half. The broader solar market remains complex, as incremental price increases have not yet fully absorbed upstream cost pressures. Furthermore, competition in the storage sector is intensifying. In the face of these challenges, we remain committed to a balanced strategy focused on rigorous execution and continuous innovation.”

Ismael Guerrero, CEO of Canadian Solar’s subsidiary Recurrent Energy, said, “The sequential improvement in revenue was primarily driven by the sale of the Fort Duncan project, while the improvement in margin reflected the absence of pipeline impairment charges this quarter. As we continue to monetize other operating and under-construction assets, the impact on our results of operations may be less favorable in the near term. However, this strategy remains necessary to deleverage our balance sheet and recycle capital.”

Xinbo Zhu, Senior VP and CFO, added, “In the first quarter of 2026, we achieved $1.1 billion in revenue and a gross margin of 25.1%, with gross margin increasing both sequentially and year-over-year primarily due to the recognition of tariff refund benefits. Aided by this one-time benefit and continued controls on operating expenses, net loss attributable to shareholders narrowed to $32 million, or $0.71 per share. We closed the period with a cash position of $1.9 billion.”

First Quarter 2026 Results

Total solar module shipments recognized as revenue in Q1 2026 were 2.5 GW, down 42% quarter-over-quarter (“qoq”) and down 64% year-over-year (“yoy”).

Total battery energy storage shipments recognized as revenue in Q1 2026 were 2.1 GWh, up 5% qoq and up 142% yoy.

Net revenues were $1.1 billion in Q1 2026, down 11% sequentially and 10% yoy, mainly due to lower sales of solar modules partially offset by higher sales of battery energy storage systems.

Gross profit was $271 million, inclusive of a $93 million tariff refund benefit, compared to $124 million in Q4 2025 and $140 million in Q1 2025. Gross margin was 25.1%, compared to 10.2% and 11.7% in Q4 2025 and Q1 2025, respectively. The sequential and yoy increase in gross margin was primarily due to the recognition of IEEPA tariff refund benefits.

Operating expenses were $198 million, compared to $188 million in Q4 2025 and up from $195 million in Q1 2025 due to lower logistics costs offset by the absence of one-time gains recorded in the previous quarter. Operating expenses represented 18.4% of revenue, compared to 15.5% in Q4 2025 and 16.3% in Q1 2025.

Net loss attributable to Canadian Solar in accordance with generally accepted accounting principles in the United States of America (“GAAP”) in Q1 2026 was $32 million, or a net loss of $0.71 per share, compared to a net loss of $86 million, or a net loss of $1.66 per share, in Q4 2025, and a net loss of $34 million, or a net loss of $0.69 per share, in Q1 2025. Net income or loss per diluted share includes the dilutive effect of convertible bonds, as applicable, and dividends on the Recurrent Energy redeemable preferred shares.

Net cash flow used in operating activities in Q1 2026 was $209 million, driven by changes in working capital, specifically an increase in inventories, compared to net cash flow used in operating activities of $65 million in Q4 2025 and net cash flow used in operating activities of $264 million in Q1 2025.

Total debt, including financing liabilities, was $6.8 billion as of March 31, 2026, including $3.8 billion, $2.6 billion and $0.4 billion related to Recurrent Energy, Manufacturing, and convertible notes, respectively. Total debt increased from $6.5 billion as of December 31, 2025, mainly due to the issuance of convertible notes. Total non-recourse debt under Recurrent Energy as of March 31, 2026, was $2.3 billion.

Business Segments

On December 1, 2025, Canadian Solar announced a strategic initiative to resume direct oversight of its U.S. operations. The Company has formed a new joint venture with its majority-owned subsidiary, CSI Solar Co., Ltd. (“CSI Solar”), by holding a 75.1% controlling stake in CS PowerTech Inc. (“CS PowerTech”), which operates U.S.-based manufacturing and sales of solar modules, solar cells, and advanced energy storage systems.

Following the consummation of this strategic initiative, Canadian Solar’s business is organized into two segments:

  • Manufacturing, comprising CS PowerTech, which focuses on the manufacturing and sales of solar products, battery energy storage products, and other power technology products for the U.S. market, and CSI Solar, which serves all other global markets; and
  • Recurrent Energy, which focuses on solar power and battery storage project development, asset sales, power services, and electricity revenue from its operating portfolio.

Manufacturing
Solar Modules and Solar System Kits
The Company shipped 2.5 GW of solar modules and solar system kits to more than 60 countries and regions in Q1 2026.

Consistent with the Company’s transition from volume-driven growth to high-value creation, the Company will focus its disclosure on strategic markets rather than aggregate global manufacturing capacity.

In the U.S., the Company operates a 5 GWp solar module factory in Mesquite, Texas, which it expects to expand to nameplate capacity of 10 GWp by the second half of 2026.

The Company is also continuing to advance its flagship, state-of-the-art heterojunction technology (“HJT”) solar cell factory in Jeffersonville, Indiana. In response to strong customer demand, the Company is increasing its production capacity beyond 5 GWp, with additional production lines being installed and commissioned through 2026.

  • Phase I: Trial production began in April 2026. Phase I has a nameplate capacity of 2.1 GWp and is expected to become one of the first commercial-scale HJT solar cell facilities in the U.S. upon commencement of commercial operations.
  • Phase II: The Company expects to begin trial production for Phase II at the beginning of 2027. This expansion will add 4.2 GWp of capacity, bringing the Company’s total solar cell nameplate capacity in the U.S. to 6.3 GWp.

e-STORAGE: Battery Energy Storage Solutions
As of May 8, 2026, e-STORAGE contracted backlog, including contracted long-term service agreements, stood at $3.5 billion. These signed orders represent binding customer commitments and provide significant earnings visibility over a multi-year period.

Recurrent Energy
As of March 31, 2026, the Company had a total global solar project development pipeline of approximately 24 GWp and a battery energy storage project development pipeline of 81 GWh.

The business model consists of three key drivers:

  • Electricity revenue from the operating portfolio to drive stable, diversified cash flows in growth markets with stable currencies;
  • Asset sales, including selective operating assets in stable currency markets and assets in the rest of the world, to manage cash flow, debt levels and to fund growth in the operating portfolio; and
  • Power services (O&M) through long-term operations and maintenance (“O&M”) contracts, currently with 15 GW of contracted projects, to drive stable and long-term recurring earnings and synergies with the project development platform.

Project Development Pipeline – Solar
As of March 31, 2026, the Company’s total solar project development pipeline was 23.7 GWp, including 1.8 GWp under construction, 2.6 GWp of backlog, and 19.3 GWp of projects in advanced and early-stage development, defined as follows:

  • Backlog projects are late-stage projects that have passed their risk cliff date and are expected to start construction within the next one to four years. A project’s risk cliff date is the date on which it passes the last high-risk development stage and varies by country. Typically, this occurs after the project has received all required environmental and regulatory approvals, and entered into interconnection agreements and offtake contracts, including feed-in tariff (“FIT”) arrangements and power purchase agreements (“PPAs”). A significant majority of backlog projects are contracted (i.e., have secured a PPA or FIT), and the remainder have reasonable assurance of securing PPAs.
  • Advanced pipeline projects are mid-stage projects that have secured or are assessed by the Company as having a greater than 90% likelihood of securing an interconnection agreement.
  • Early-stage pipeline projects are early-stage projects controlled by the Company that are in the process of securing interconnection.

While the magnitude of the Company’s project development pipeline is an important indicator of potential increases in power generation and battery energy storage capacity, as well as potential future revenue growth, the development of projects in its pipeline is inherently uncertain. If the Company does not successfully complete the pipeline projects in a timely manner, it may not realize the anticipated benefits of those projects to the extent expected, which could adversely affect its business, results of operations, and financial condition. In addition, the Company’s guidance and estimates of its future operating and financial results assume the completion of certain solar projects and battery energy storage projects in its pipeline. If the Company is unable to execute on its actionable pipeline, it may fail to meet its guidance, which could adversely affect the market price of its common shares and its business, results of operations, and financial condition.

The following table presents the Company’s total solar project development pipeline.

Solar Project Development Pipeline (as of March 31, 2026) – MWp*

Region

Under Construction

Backlog

Advanced Development

Early-Stage Development

Total

North America

606

226

427

4,573

5,832

Europe, the Middle East, and Africa (“EMEA”)

674

1,418**

1,134

4,111

7,337

Latin America

374

352

6,256

6,982

Asia Pacific

492

616**

572

1,887

3,567

Total

1,772

2,634

2,485

16,827

23,718

*All numbers are gross MWp.

**Including 443 MWp in backlog that are owned by or already sold to third parties.

Project Development Pipeline – Battery Energy Storage

As of March 31, 2026, the Company’s total battery energy storage project development pipeline was 80.6 GWh, including 5.0 GWh under construction and in backlog, and 75.6 GWh of projects in advanced and early-stage development.

The table below sets forth the Company’s total battery energy storage project development pipeline.

Battery Energy Storage Project Development Pipeline (as of March 31, 2026) – MWh*

Region

Under Construction

Backlog

Advanced Development

Early-Stage Development

Total

North America

600

200

600

21,640

23,040

EMEA

1,350**

3,925

30,322

35,597

Latin America

1,320

5,005

6,325

Asia Pacific

1,200

1,620

3,281

9,580

15,681

Total

1,800

3,170

9,126

66,547

80,643

 *All numbers are gross MWh. 
**Including 600 MWh in backlog that are owned by third parties.

Business Outlook

The Company’s business outlook is based on management’s current views and estimates, taking into account factors such as existing market conditions, order book, production capacity, input material prices, foreign exchange fluctuations, the anticipated timing of project sales, and the global economic environment. This outlook is subject to uncertainty with respect to, among other things, customer demand, project construction and sale schedules, product sales prices and costs, supply chain constraints, and geopolitical conflicts. Management’s views and estimates are subject to change without notice.

In Q2 2026, the Company expects total revenue to be in the range of $1.0 billion to $1.2 billion. Gross margin is expected to be between 13% and 15%. Total module shipments recognized as revenue are expected to be in the range of 3.1 GW to 3.3 GW. Total battery energy storage shipments in Q2 2026 are expected to be in the range of 2.8 GWh to 3.2 GWh, including approximately 400 MWh to internal and external projects under execution.

The Company is reiterating its guidance of 6.5 to 7.0 GW of solar modules and 4.5 to 5.5 GWh of battery energy storage solutions for the U.S. market in 2026.

Colin Parkin, CEO of Canadian Solar, commented, “The first half of the year reflects prevailing market challenges, with solar margins remaining under pressure. In our energy storage business, margins are normalizing, and we remain partially exposed to fluctuations in lithium carbonate pricing. These factors, combined with a broader backdrop of policy uncertainty and geopolitical volatility, continue to impact both customers’ long-term planning and our own operational execution. We anticipate stronger storage volumes and the benefits from the ramp-up of our U.S. domestic solar cell manufacturing to be weighted toward the second half, while our project development business continues to execute on its rebalancing strategy.”

Recent Developments

Canadian Solar

On May 14, 2026, Canadian Solar announced the appointment of Mr. Colin Parkin as Chief Executive Officer, effective immediately. Mr. Parkin, who previously served as the Company’s President, succeeds founder Dr. Shawn Qu, who has transitioned from Chairman and CEO to the roles of Executive Chairman and Chief Technology Officer. In this new capacity, Dr. Qu will focus on spearheading the Company’s technological innovation and long-term R&D strategy.

On April 17, 2026, Canadian Solar announced that the Patent Trial and Appeal Board (“PTAB”) of the U.S. Patent and Trademark Office (“USPTO”) issued Final Written Decisions invalidating all claims of two TOPCon (Tunnel Oxide Passivated Contact) solar cell patents. These patents were previously asserted by Trina Solar Co., Ltd. (“Trina”) against certain subsidiaries of Canadian Solar. These decisions reflect Canadian Solar’s continued ability to manage international intellectual property disputes.

 

Manufacturing: CS PowerTech and CSI Solar

On March 31, 2026, Canadian Solar announced that it would deliver a total of 420 MWh AC of battery energy storage systems for Drax Group, a leading UK renewable energy company, across two projects in the United Kingdom. Both projects are being developed by Apatura and have been acquired by Drax. Battery installations are scheduled to commence in the third quarter of 2026 at the Marfleet site, with the Neilston project expected to start installations in early 2027.

 

Conference Call Information

The Company will hold a conference call on Thursday, May 14, 2026, at 8:00 a.m. U.S. Eastern Time to discuss the Company’s first quarter 2026 results and business outlook. The dial-in phone number for the live audio call is +1-877-704-4453 (toll-free from the U.S.) or +1-201-389-0920 from international locations. The conference ID is 13760199. A live webcast of the conference call will also be available via the webcast link on the investor relations section of Canadian Solar’s website.

A replay of the call will be available after the conclusion of the call until 11:00 p.m. U.S. Eastern Time on Thursday, May 28, 2026, and can be accessed by dialing +1-844-512-2921 (toll-free from the U.S.) or +1-412-317-6671 from international locations. The replay pin number is 13760199. A webcast replay will also be available via the webcast link on the investor relations section of Canadian Solar’s website.

About Canadian Solar Inc.

Canadian Solar is one of the world’s largest solar technology and renewable energy companies. Founded in 2001 and headquartered in Kitchener, Ontario, the Company is a leading manufacturer of solar photovoltaic modules; provider of solar energy and battery energy storage solutions; and developer, owner, and operator of utility-scale solar power and battery energy storage projects. Over the past 25 years, Canadian Solar has successfully delivered nearly 177 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar had shipped over 20 GWh of battery energy storage solutions to global markets as of March 31, 2026, and had a $3.5 billion contracted backlog as of May 8, 2026. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12.2 GWp of solar power projects and 6.4 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 24 GWp of solar and 81 GWh of battery energy storage capacity in various stages of development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

Safe Harbor/Forward-Looking Statements

Certain statements in this press release, including those regarding the Company’s expected future shipment volumes, revenues, gross margins, and project sales are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the “Safe Harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as “may”, “will”, “expect”, “anticipate”, “future”, “ongoing”, “continue”, “intend”, “plan”, “potential”, “prospect”, “guidance”, “believe”, “estimate”, “is/are likely to” or similar expressions, the negative of these terms, or other comparable terminology. These forward-looking statements include, among other things, our expectations regarding global electricity demand and the markets for solar power and battery energy storage; our growth strategies, future business performance, and financial condition; our ability to sustain our project development and balance long-term asset ownership with selective project sales; our ability to monetize project portfolios, manage supply chain fluctuations, and respond to economic factors such as inflation and interest rates; our outlook on government incentives, and policy support schemes, trade measures, regulatory developments, and geopolitical risks; our expectations for project timelines, costs, offtake and returns; competitive dynamics in solar and storage markets; our ability to execute supply chain, manufacturing, and operational initiatives; access to capital, debt obligations, and covenant compliance; relationships with key suppliers and customers; technological advancement and product quality; and risks related to intellectual property, litigation, and compliance with environmental and sustainability regulations. Other risks are described in the Company’s filings with the Securities and Exchange Commission, including its latest annual report on Form 20-F filed on April 10, 2026. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today’s date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.

Investor Relations Contact:

Wina Huang

Investor Relations

Canadian Solar Inc.

investor@canadiansolar.com

FINANCIAL TABLES FOLLOW

The following tables provide unaudited select financial data for the Company’s Manufacturing and Recurrent Energy businesses.

Select Financial Data – Manufacturing and Recurrent Energy

Three Months Ended and As of March 31, 2026

(In Thousands of U.S. Dollars)

Manufacturing

Recurrent Energy

Elimination and unallocated items

Total

Net revenues

$ 949,662

$ 139,232

$  (11,016)

$  1,077,878

Cost of revenues

673,316

153,749

(20,007)

807,058

Gross profit

276,346

(14,517)

8,991

270,820

Operating expenses

149,529

45,736

2,689

197,954

Income (loss) from operations

126,817

(60,253)

6,302

72,866

Other segment items (1)

(64,181)

Income before income taxes and equity in losses of affiliates

8,685

Supplementary Information:

Interest expense

$  (14,828)

$  (31,664)

$  (5,878)

$  (52,370)

Interest income

6,252

10,202

204

16,658

Depreciation and amortization, included in cost of revenues and operating expenses

114,089

16,632

130,721

Cash and cash equivalents

$ 1,353,014

$ 71,283

$ 16,813

$ 1,441,110

Restricted cash – current and non-current

323,034

119,147

442,181

Non-recourse borrowings

2,284,531

2,284,531

Other short-term and long-term borrowings

2,505,510

1,349,878

3,855,388

Convertible notes – non-current

419,150

419,150

Green bonds – current

151,137

151,137

(1) Includes interest expense, net, gain on change in fair value of derivatives, net, foreign exchange loss, net and investment income, net.

The following table summarizes the revenues generated from each product or service.

Three Months Ended

March 31, 2026

Three Months Ended

December 31, 2025

Three Months Ended

March 31, 2025

(In Thousands of U.S. Dollars)

Manufacturing:

Solar modules

$  455,117

$  718,597

$  797,422

Battery energy storage solutions

382,758

296,848

155,310

Solar system kits

25,437

35,409

85,526

EPC and others

77,152

101,412

35,037

Subtotal

940,464

1,152,266

1,073,295

Recurrent Energy:

Solar power and battery energy storage asset sales

88,541

15,975

72,151

Power services

22,416

20,286

16,499

Revenue from electricity, battery energy storage operations and others

26,457

28,682

34,680

Subtotal

137,414

64,943

123,330

Total net revenues

$  1,077,878

$  1,217,209

$  1,196,625

 

Canadian Solar Inc.
Unaudited Condensed Consolidated Statements of Operations
(In Thousands of U.S. Dollars, Except Share and Per Share Data)

Three Months Ended

March 31,

December 31,

March 31,

2026

2025

2025

Net revenues

$ 1,077,878

$ 1,217,209

$ 1,196,625

Cost of revenues

807,058

1,092,808

1,056,131

Gross profit

270,820

124,401

140,494

Operating expenses:

Selling and distribution expenses

54,281

81,047

90,767

General and administrative expenses

135,472

106,946

105,651

Research and development expenses

20,718

21,683

24,284

Other operating income, net

(12,517)

(21,214)

(25,403)

Total operating expenses

197,954

188,462

195,299

Income (loss) from operations

72,866

(64,061)

(54,805)

Other income (expenses):

Interest expense

(52,370)

(48,458)

(40,487)

Interest income

16,658

8,960

12,096

Gain (loss) on change in fair value of derivatives, net

4,985

(7,052)

(9,039)

Foreign exchange loss, net

(33,920)

(8,035)

(4,586)

Investment income, net

466

120

1,090

Total other expenses

(64,181)

(54,465)

(40,926)

Income (loss) before income taxes and equity in losses of affiliates

8,685

(118,526)

(95,731)

Income tax benefit (expense)

(16,938)

4,178

23,122

Equity in losses of affiliates

(5,255)

(16,453)

(4,045)

Net loss

(13,508)

(130,801)

(76,654)

Less: net income (loss) attributable to non-controlling interests and redeemable non-controlling interests

18,585

(44,463)

(42,683)

Net loss attributable to Canadian Solar Inc.

$  (32,093)

$  (86,338)

$  (33,971)

Earnings (loss) per share – basic

$  (0.71)

$  (1.66)

$  (0.69)

Shares used in computation – basic

67,817,714

67,712,693

66,962,686

Earnings (loss) per share – diluted

$  (0.71)

$  (1.66)

$  (0.69)

Shares used in computation – diluted

67,817,714

67,712,693

66,962,686

 

Canadian Solar Inc.
Unaudited Condensed Consolidated Statement of Comprehensive Income (Loss)
(In Thousands of U.S. Dollars)

Three Months Ended

March 31,

December 31,

March 31,

2026

2025

2025

Net loss

$ (13,508)

$  (130,801)

$ (76,654)

Other comprehensive income (loss), net of tax:

Foreign currency translation adjustment

63,355

39,752

2,091

Gain (loss) on changes in fair value of available-for-sale debt securities

1,941

(504)

Gain (loss) on interest rate swap

6,604

7,955

(3,081)

Share of gain (loss) on changes in fair value of interest rate swap of affiliate

22

(443)

(1,232)

Comprehensive income (loss)

56,473

(81,596)

(79,380)

Less: comprehensive income (loss) attributable to non-controlling interests and redeemable non-controlling interests

35,562

(31,664)

(40,768)

Comprehensive income (loss) attributable to Canadian Solar Inc.

$  20,911

$  (49,932)

$ (38,612)

 

Canadian Solar Inc.
Unaudited Condensed Consolidated Balance Sheets
(In Thousands of U.S. Dollars)

March 31,

December 31,

2026

2025

ASSETS

Current assets:

Cash and cash equivalents

$ 1,441,110

$ 1,370,418

Restricted cash

420,784

541,705

Accounts receivable trade, net

698,978

829,957

Accounts receivable, unbilled

247,858

228,393

Amounts due from related parties

13,903

17,959

Inventories

1,519,211

1,133,539

Value added tax recoverable

263,970

252,251

Advances to suppliers, net

220,530

217,871

Derivative assets

6,852

15,002

Project assets

747,798

549,269

Prepaid expenses and other current assets

881,774

822,502

Total current assets

6,462,768

5,978,866

Restricted cash

21,397

28,312

Property, plant and equipment, net

3,469,541

3,376,035

Solar power and battery energy storage systems, net

2,099,078

2,065,498

Deferred tax assets, net

657,297

634,160

Advances to suppliers, net

101,001

104,518

Investments in affiliates

307,255

289,601

Intangible assets, net

31,282

31,981

Project assets

1,231,954

1,481,486

Right-of-use assets

430,948

441,291

Amounts due from related parties

84,008

76,848

Other non-current assets

638,019

663,133

TOTAL ASSETS

$ 15,534,548

$ 15,171,729

 

Canadian Solar Inc.
Unaudited Condensed Consolidated Balance Sheets (Continued)
(In Thousands of U.S. Dollars)

March 31,

December 31,

2026

2025

LIABILITIES, REDEEMABLE INTERESTS AND EQUITY

Current liabilities:

Short-term borrowings

$ 2,602,193

$ 2,389,037

Green bonds

151,137

153,152

Accounts payable

1,030,796

878,827

Short-term notes payable

724,908

939,549

Amounts due to related parties

6,286

7,484

Other payables

821,534

779,198

Advances from customers

216,077

162,586

Derivative liabilities

5,789

6,179

Operating lease liabilities

32,601

26,783

Other current liabilities

479,288

507,594

Total current liabilities

6,070,609

5,850,389

Long-term borrowings

3,537,726

3,621,232

Convertible notes

419,150

195,313

Liability for uncertain tax positions

5,642

5,788

Deferred tax liabilities

300,722

296,719

Operating lease liabilities

338,663

354,508

Other non-current liabilities

565,341

578,152

TOTAL LIABILITIES

11,237,853

10,902,101

Redeemable non-controlling interests

295,933

326,559

Equity:

Common shares

835,543

835,543

Additional paid-in capital

569,859

568,921

Retained earnings

1,449,539

1,481,632

Accumulated other comprehensive loss

(25,121)

(78,125)

Total Canadian Solar Inc. shareholders’ equity

2,829,820

2,807,971

Non-controlling interests

1,170,942

1,135,098

TOTAL EQUITY

4,000,762

3,943,069

TOTAL LIABILITIES, REDEEMABLE INTERESTS AND EQUITY

$ 15,534,548

$ 15,171,729

 

Canadian Solar Inc.
Unaudited Condensed Statements of Cash Flows
(In Thousands of U.S. Dollars)

Three Months Ended

March 31,

December 31,

March 31,

2026

2025

2025

Operating Activities:

Net loss

$  (13,508)

$  (130,801)

$  (76,654)

Adjustments to net loss

152,825

158,944

161,770

Changes in operating assets and liabilities

(347,975)

(93,177)

(349,319)

Net cash used in operating activities

(208,658)

(65,034)

(264,203)

Investing Activities:

Purchase of property, plant and equipment and intangible assets

(173,210)

(266,377)

(256,380)

Purchase of solar power and battery energy storage systems

(20,053)

(53,105)

(128,707)

Other investing activities

60,176

20,946

(83,897)

Net cash used in investing activities

(133,087)

(298,536)

(468,984)

Financing Activities:

Capital contributions from tax equity investors in subsidiaries

750

14,680

Repurchase of shares by subsidiary

(24,510)

(21,404)

Net proceeds from issuance of convertible notes

222,983

43,896

Other financing activities

114,936

45,561

507,066

Net cash provided by financing activities

337,919

21,801

544,238

Effect of exchange rate changes

(53,318)

102,273

(41,153)

Net decrease in cash, cash equivalents and restricted cash

(57,144)

(239,496)

(230,102)

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

$ 1,940,435

$ 2,179,931

$ 2,264,021

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

$ 1,883,291

$ 1,940,435

$ 2,033,919

Oudomxay Authorities Detain 50 Foreign Nationals During Immigration Crackdown

A picture of 50 foreign nationals that were arrested by Oudomxay authorities during Immigration Crackdown. (Photo by Lao Security News)

Authorities in Oudomxay province have detained 50 foreign nationals during an inspection operation targeting illegal immigration activities in Xay district on 13 May. 

According to provincial police, officers from the provincial security and police departments conducted inspections at two hotels in Vang Hai village, where they found dozens of foreigners allegedly hiding without proper immigration documents.

Authorities said the group included 46 Chinese nationals and 4 Myanmar nationals. Officials also confiscated 53 mobile phones during the operation.

Preliminary investigations found that many of the detainees did not possess valid passports or clear immigration documents. Authorities said investigations are ongoing and legal proceedings will follow in accordance with Lao law. 

The crackdown comes amid Laos’ broader efforts to combat transnational cybercrime and illegal immigration activities linked to online scam networks operating across the region.

Separately on 13 May, Lao authorities, in coordination with Chinese police through the Lao-China Police Cooperation Center, transferred 485 Chinese nationals from Laos back to China following investigations into cybercrime and illegal migration. 

Authorities said the group was also linked to telecom fraud, online gambling operations, and unauthorized business activities in Laos. 

Police urged hotel owners, landlords, and businesses to report suspicious activities and comply with regulations concerning foreign residents and guests staying in Laos. 

Lao authorities said investigations are continuing as Laos cooperates with neighboring countries and international organizations to address cybercrime and illegal migration. 

Phancy Group Ranked Number One in China’s Machine Learning Platform Market for the 8th Consecutive Year


HONG KONG SAR – Media OutReach Newswire – 14 May 2026 – IDC today released its China AI Software Market Semi-Annual Tracker, 2025H2 report. According to the report, Phancy Group (Stock Code: 6682.HK) achieved a 30.4% market share, securing the No.1 position in China’s private deployment machine learning platform market for the eighth consecutive year, further strengthening its industry leadership.

Dr. Dai Wenyuan, Founder of Phancy Group, said: “Being ranked No.1 for eight consecutive years in IDC’s China private deployment machine learning platform market is a powerful recognition from our customers and the market of our technological strength, product maturity, and proven large-scale implementation capabilities. This milestone reflects eight years of persistent innovation and dedication. Moving forward, we will continue to deepen our domestic computing ecosystem, while delivering standardized, full-stack AI products and solutions to help more enterprises achieve truly scalable AI adoption.”

Since launching the Sage AIOS platform in 2016, Phancy has leveraged core technologies such as AutoML to significantly lower the barrier to AI development. This has enabled enterprises across finance, retail, manufacturing, and other industries to rapidly build high-performance, high-efficiency AI models, markedly improving business outcomes and laying a solid foundation for long-term market leadership. Recently, the company introduced PhanthyModel, an AI-powered intelligent modeling tool that elevates machine learning model development to a new level. Users simply describe the problem in natural language, and PhanthyModel automatically handles data analysis, model construction, and result iteration. Early tests show it reduces what previously took 5 to 6 hours of manual work to approximately 10 minutes, while continuously learning from expert feedback to achieve self-evolution.

In the era of generative AI, Phancy continues to expand its technological edge. Through its standardized AI development platform, the company has built an end-to-end closed loop from model development to deployment and operations, greatly improving enterprises’ large-scale AI implementation efficiency. In December 2024, Phancy completed a strategic upgrade and outlined its technology roadmap of “AI Agent + World Models”, offering more scenario-adapted and decision-intelligent solutions for industry transformation.

On the ecosystem front, Phancy continues to bridge domestic computing power, large models, and enterprise scenarios. Its ModelHub XC has completed compatibility certification for over 70,000 models, effectively solving compatibility issues between models and domestic chips. It now supports mainstream domestic computing platforms including Huawei Ascend, Cambricon, TianShu, Kunlun Core, Moore Threads, Hygon, Biren, Enflame, and others, further advancing China’s indigenous AI ecosystem.

IDC forecasts that China’s AI software private deployment market will maintain strong growth in 2026, with the mid-market segment becoming a key growth driver. Competition is shifting toward the ability to convert industry Know-how into scalable product capabilities. Leveraging its long-term technological depth, industry expertise, and ecosystem advantages, Phancy is well positioned to continue leading China’s private deployment machine learning platform market.

Hashtag: #Phancygroup

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

About Phancy Group

Phancy Group (6682.HK) is a leading full-stack AI cloud services platform, providing comprehensive solutions for the AI 2.0 era. Our offerings include SageAIOS, HAMi vGPU and ModelHub XC, delivering efficient and scalable AI infrastructure with end-to-end capabilities. We provide a complete solution from heterogeneous compute resource management and optimization to the deployment of intelligent agent models. These solutions empower digital transformation across a wide range of industries, supporting our vision of building a large-scale and efficient “Token Factory.”

Guided by the mission of “AI for Everyone” and positioned as the “Navigator of AI,” Phancy Group is committed to becoming a global leader in general-purpose artificial intelligence.