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WIP Capital Investments Pty Ltd (ACN 686 632 066) as trustee for WIP Capital Investments Trust (the Issuer)

MELBOURNE, Australia, May 27, 2025 /PRNewswire/ — The Issuer would like to offer your institution the opportunity to participate as a noteholder under a loan note deed poll, dated as of 27 May 2025 (the Loan Note Deed) in respect of notes to be issued by the Issuer under the Loan Note Deed, as described in more detail in the commercial terms sheet attached to this offer letter (the Notes). The proceeds of the Notes will be used by the Issuer to, among other things, make investments that are consistent with the Investment Plan set out in the trust deed of the WIP Capital Investments Trust (the Trust).

For the purpose of carrying out certain regulated activities, the Issuer is appointed by Wingate Financial Services Pty Ltd (ACN 106 480 602) (the Investment Manager or Licensee) as its corporate authorised representative. This offer letter, and any offer in respect of the Trust, will be made by the Licensee under an intermediary authorisation agreement between the Issuer and Licensee, where the Licensee will make offers to arrange for the issue, variation and disposal of financial products in connection with the Trust. The Issuer will then issue the financial products in accordance with the offer, if it is accepted.

Tax Act Public Offer

The Notes will be documented under the Loan Note Deed in accordance with section 128F of the Income Tax Assessment Act 1936 (Cth) of Australia (the Tax Act). This letter constitutes an offer to issue the Notes in accordance with the “public offer test” in subsection 128F(3) of the Tax Act.

It is intended that the Notes will be issued in a manner that satisfies the public offer test and other requirements of section 128F of the Tax Act. Accordingly, Offshore Associates (as defined below) of the Issuer will not be permitted to acquire an interest in the Notes.

Participants will be required to make customary representations, warranties and covenants regarding their status to ensure compliance with Australia’s interest withholding tax exemption regime, and in particular, will be asked to confirm that except as disclosed to the Issuer at the time of this offer, they are not so far as they have actual knowledge, an Offshore Associate of the Issuer.

In this letter, “Associate” has the meaning given in subsection 128F(9) of the Tax Act and “Offshore Associate” means an Associate who would acquire an interest in the circumstances specified in subsections 128F(5)(b) and (c) of the Tax Act.

General Conditions of Participation

Final allocations will be determined by the Issuer in its absolute discretion. The Issuer reserves the right to scale back or accept oversubscriptions, and to withdraw this offer at any time or close or extend the review period for considering this offer at any time before or after the stated date for receipt of responses.

Each offered investor must independently make its own credit analysis and decision to enter into the transaction.

Principal terms

The details of the Loan Note Deed are set out in the term sheet in the schedule to this letter (the Term Sheet).

Confidential Information

Please note that the recipients of this offer are required to keep all information regarding the Notes, the Loan Note Deed, and the Trust (the Confidential Information), confidential. Recipients are not to discuss the Confidential Information with each other or disclose any details to any third parties without the prior written consent of the Issuer. This letter must not be reproduced, used or given to any other person, in whole or in part, for any purpose other than that for which it is intended.

For the avoidance of doubt, the Issuer may disclose any Confidential Information and the information contained in this letter as required by law or regulation or by any applicable stock exchange without the need to obtain any prior approval or consent.

Singaporean Selling Legend

The offer, issue, and sale of the Notes are and will be exempt from the registration and prospectus delivery requirements of the Securities and Futures Act of Singapore 2001 (SFA), and have not and will not be lodged or registered as a prospectus with the Monetary Authority of Singapore. Accordingly, statutory liability under the SFA in relation to the content of prospectuses does not apply, and you should consider carefully whether the investment is suitable for you. The Monetary Authority of Singapore assumes no responsibility for the contents of this document or any other document or material related to the offer, issue, and sale of the Notes. This offer and any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of the Notes may not be circulated or distributed, nor may the Notes be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to any person in Singapore other than pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA. The offer of the Notes relates to schemes which are not authorised or recognised by the Monetary Authority of Singapore and are not allowed to be offered to the retail public.

Process

If you are interested in participating as a noteholder under the Loan Note Deed you are requested to sign and return the below expression of interest by no later than 10 June 2025 to:

Wingate Financial Services Pty Ltd
Level 48, 101 Collins Street, Melbourne, Victoria 3000
Attention: Michael Sack
Email: msack@wingate.com.au 

By countersigning this letter, you are merely expressing your interest to participate as a noteholder under the Loan Note Deed. Such expression of interest is non-binding and is not intended to indicate your approval of the Term Sheet.

By countersigning this letter, you represent and warrant that your institution is not, so far as you have actual knowledge or grounds to suspect, an Offshore Associate of the Issuer.

Countersigned by

Signed:_____________________________

Name:   _____________________________

Title:     _____________________________

Schedule – Term Sheet – WIP Capital Investments Trust

Terms

Issuer

WIP Capital Investments Pty Ltd (ACN 686 632 066) acts as trustee for the Trust.

Trust

An Australian unit trust established to make direct or indirect debt investments across multiple asset classes and sectors in Australia known as “WIP Capital Investments Trust”. The Trust will be predominantly funded by the issuance of Notes to the noteholders (the Noteholders).

Domicile

Australia.

Investment Manager

Wingate Financial Services Pty Ltd (ACN 106 480 602).

The offer

An offer to subscribe for loan notes on the terms described in the Loan Note Deed. The offer is intended to satisfy the requirements of section 128F of the Income Tax Assessment Act 1936.

Issue Maximum

AU$100 million excluding co-investments, or as determined by the Issuer from time to time in order to meet the Trust’s funding requirements.

Currency

Australian Dollars (AUD).

Security

Unsecured.

Interest payment

Interest is linked to the underlying loans and it is targeting a return equal to the aggregate of the RBA Cash Rate plus a variable return of 2.5% – 5.5%. The anticipated return is not guaranteed. The interest will only be paid to the extent there are cash receipts available for distribution.

Purpose

The Issuer will establish the Trust to gain exposure to borrowers situated in Australia by making direct or indirect debt investments across multiple asset classes and sectors in Australia.

Term

5 years from closing plus extension for up to 1 additional year, provided that if the Noteholder does not request repayment of the Notes 90 days before the termination of last day of the Term, the Notes will automatically rollover to new notes for another 5 years on the same terms of issue as the Notes unless the Issuer determines otherwise.

Currency Hedging

None. The Trust will make loan investments in AUD.

Fees

Nil.

Early Prepayment

The Noteholder may request early prepayment of any or all of its Notes on a monthly basis (Early Prepayment Request). If there is sufficient cash to prepay the Notes specified in the Early Prepayment Request, the Issuer shall prepay such Notes in full. If there is insufficient cash available, the Issuer may prepay the Notes the subject of Early Prepayment Request as and when the underlying loans or investments are repaid, redeemed or otherwise disposed of.

Limitation of liability

The Issuer enters into the transaction documents (including Loan Note Deed) only in its capacity as trustee of the Trust. Any liability is limited to, and can be enforced against the Issuer only to the extent to which it can be satisfied out of the assets of the Trust out of which the Issuer is actually indemnified for the liability.

Transferability

The Noteholder can only transfer any or all of its Notes if the Issuer, in its sole discretion, consents to the transfer in writing and satisfies other requirements set out in the Loan Note Deed.

Governing Law

Victoria, Australia.

 

Geopolitical tensions lead to increasing risks for shipping sector globally

  • Allianz Safety and Shipping Review 2025: Trade conflict between the US and China and growing shadow fleet add to substantial challenges for the shipping industry.
  • Despite geopolitical headwinds: only 27 large ships lost worldwide in 2024, down by more than 20%, the industry’s lowest-ever total.
  • Progress made on traditional risks such as fires, collisions, and groundings, which are the main causes of losses, but potential for large claims remains a concern.

SINGAPORE – Media OutReach Newswire – 27 May 2025 – The fast-changing geopolitical landscape is creating new risks and challenges for a shipping industry already juggling the energy transition and the legacy of the Covid-19 pandemic, according to Allianz Commercial’s Safety and Shipping Review. The industry faces an increasingly volatile and complex operating environment, marked by attacks against shipping, vessel detentions, sanctions, as well as the fall-out from incidents involving damage to critical sub-sea cables. Furthermore, the ripple effect of increasing protectionism and tariffs threatens to remake supply chains and shake up established trade relations.

Given 90% of international trade is transported across oceans, those developments are concerning, especially as the industry continues to see the potential for large claims from traditional risks such as fires, collisions and groundings, which are still the main drivers for total losses of large vessels. However, there is also good news. The shipping industry has made significant improvements when it comes to maritime safety in recent years. During the 1990s the global fleet was losing 200+ vessels a year. This total had halved 10 years ago and is now down to a record low of 27 as of the end of 2024 (from 35 in 2023).

“The relevance of political risk and conflict as a potential cause of maritime loss is increasing with heightened geopolitical tensions. Total losses from traditional causes may have reduced over time, but we could be in a position where this positive trend is potentially offset by war and other political-related exposures. As an industry, we are in a better position with regards to traditional risks, but there is a renewed focus on geopolitical risks,” says Captain Rahul Khanna, Global Head of Marine Risk Consulting, Allianz Commercial.

US-China trade conflict and growing shadow fleet bring uncertainty and challenges
China has been the biggest target of the protectionist measures of the US administration with tariffs reaching 145%, before both countries agreed to reduce them for 90 days. Developments have significantly impacted global maritime trade with approximately 18% of it subject to tariffs as of mid-April 2025, compared with 4% in early March, and dramatic declines in shipments reported in the immediate aftermath of the “Liberation Day” announcements. While the future of US trade-focused policies remains uncertain, another phenomenon is posing an increasing challenge for the maritime and insurance industries: the shadow fleet. Since the start of the war in Ukraine, the size of the shadow fleet has grown significantly. Today, around 17% of the world tanker fleet is thought to belong to the shadow fleet: estimates indicate there are close to 600 tankers trading Russian oil alone. Shadow fleet vessels have been involved in tens of incidents around the world including fires, collisions and oil spills.

“Although recent sanctions are making it harder for these vessels to trade, the shadow fleet continues to pose a serious risk to maritime safety and the environment, as many are likely to be older vessels that are poorly maintained and inadequately insured. In case of an oil spill involving a shadow fleet tanker, cleanup costs could be as much as US$1.6bn,” says Justus Heinrich, Global Product Leader, Marine Hull, Allianz Commercial.

Red Sea rerouting: older vessels and riskier routes in addition to higher costs
With ongoing geopolitical volatility in the Middle East, many ship operators have rerouted vessels around the Cape of Good Hope, adding time and cost to transits between Asia and Europe. For example, this rerouting adds around $1mn in costs and at least 10 days to a typical transit between China and Europe. According to estimates, cargo volumes in the strait had fallen by two-thirds by September 2024, with rerouting costing the global economy some US$200bn that year. The quality and safety of vessels may also be impacted as a result of this rerouting.

“With container capacity under pressure, some shipowners have gone out to the market to meet supply, purchasing tonnage that is often older and second best. This has helped push up values and seen vessels scheduled for scrap and older tonnage stay in the market longer. The concern is that when called back into service, these vessels may not be in the best state to operate safely on longer sea routes and in rough weather,” says Captain Nitin Chopra, Senior Marine Risk Consultant, Allianz Commercial Asia.

Fires and mis-declared cargo remain a top concern for large vessels
Large vessel fires are still a major concern for hull and cargo insurers. There were seven total losses reported across all vessel types during 2024, the same number as a year earlier. The number of incidents overall was up year-on-year to a decade high of 250, again across all vessel types. Around 30% of these fire incidents occurred on either container, cargo or roll-on roll-off vessels (ro-ros) (69). More than 100 total losses of vessels have been caused by fires in the past decade. Efforts to mitigate these risks are underway, with regulatory changes and technological advancements aimed at addressing mis-declared cargo, a primary contributor to such fires. This is critical as the electrification of the global economy poses further challenges given the growing number of lithium-ion batteries and battery energy storage systems being transported.

There is little doubt the shipping industry is becoming more resilient against the risks associated with large vessels, although we can by no means say they are under control. However, only 27 total losses during 2024 underlines the positive trend. To put this into perspective: there are over 100,000 ships (100GT+) in the global fleet. However, uncertainty and multiple risks persist. Cyber-attacks and GPS interferences are increasing. Ceasefires have raised hopes, but the Red Sea security threat and supply chain disruption will likely remain. Meanwhile, the green transition requires much work. The coming years will be decisive and will determine the path of the sector and global trade,” explains Captain Rahul Khanna, Global Head of Marine Risk Consulting, Allianz Commercial.

Hashtag: #shipping #allianzcommercial


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

Allianz Commercial

Allianz Commercial is the center of expertise and global line of Allianz Group for insuring mid-sized businesses, large enterprises and specialist risks. Among our customers are the world’s largest consumer brands, financial institutions and industry players, the global aviation and shipping industry as well as family-owned and medium enterprises which are the backbone of the economy. We also cover unique risks such as offshore wind parks, infrastructure projects or film productions. Powered by the employees, , and network of the world’s #1 insurance brand, we work together to help our customers prepare for what’s ahead: They trust us in providing a wide range of traditional and risk transfer solutions, outstanding and services as well as seamless handling. Allianz Commercial brings together the large corporate insurance business of Allianz Global Corporate & Specialty (AGCS) and the commercial insurance business of national Allianz Property & Casualty entities serving mid-sized companies. We are present in over 200 countries and territories either through our own teams or the Allianz Group network and partners. In 2024, the integrated business of Allianz Commercial generated around €18 billion in gross premium globally.

PLN Startup Day 2025: PLN’s Support for Indonesia’s Greentech Startups

JAKARTA, Indonesia, May 27, 2025 /PRNewswire/ — PT PLN (Persero) strengthens its commitment to accelerating the energy transition through strategic collaboration with green technology (greentech) startups in Indonesia. This initiative was realized through the PLN Startup Day 2025, themed Powering Partnership: Uniting Forces for Sustainable Energy, held at PLN’s Headquarters in Jakarta on Wednesday (May 21).

PLN Startup Day 2025 – PLN, government representatives, and greentech startups unite in Jakarta to sign strategic collaborations supporting Indonesia’s energy transition.
PLN Startup Day 2025 – PLN, government representatives, and greentech startups unite in Jakarta to sign strategic collaborations supporting Indonesia’s energy transition.

The IndonesianDirector General of Digital Infrastructure at the Ministry of Communication and Digital Affairs, Wayan Toni Supriyanto, expressed his appreciation for PLN’s initiative, which aligns with the government’s vision to build an inclusive and sustainable digital ecosystem.

“PLN plays a strategic role in realizing this vision, particularly in integrating digital innovation into energy solutions. Programs such as PLN Connext and events like PLN Startup Day are concrete proof that collaboration between the government, state-owned enterprises, and the innovation sector can address energy challenges,” Wayan stated.

PLN President Director, Darmawan Prasodjo, emphasized that PLN Startup Day 2025 is more than just an annual agenda—it is a strategic platform for creating future solutions through tangible collaboration with innovators.

“Indonesia needs innovation to achieve its energy transition and reach Net Zero Emissions by 2060. This is where startups—especially greentech startups—play a crucial role in developing technological innovations to tackle various challenges in the energy sector,” said Darmawan.

This year, PLN has successfully engaged 63 energy startups. Of these, 20 startups have participated in the incubation program, 20 startups have signed Memorandums of Understanding (MoUs) through the PLN Connext program, and 16 startups have established concrete collaborations with PLN in various strategic programs.

PLN Director of Corporate Planning and Business Development, Hartanto Wibowo, explained that PLN is developing a startup ecosystem through two main programs. First, collaboration with later-stage startups, focusing on innovative solutions directly integrated into the national energy system. Second, an incubation program for early-stage startups, providing mentoring, training, and business exploration to support long-term growth and impact.

“Since 2023, through PLN Connext, we have built a structured and tangible energy startup ecosystem. We believe startups are catalysts for change because of their agility, creativity, and high level of innovation,” said Hartanto.

As part of strengthening synergies with the government, PLN signed two strategic collaborations during the event. First, with the Ministry of Communication and Digital Affairs, to promote the digital ecosystem by empowering startup products and services. Second, with the Ministry of Higher Education, Science, and Technology, to strengthen research and development collaboration in the electricity sector.

Additionally, PLN Group signed strategic partnerships with several selected startups, covering technology advancements such as Internet of Things (IoT), Artificial Intelligence (AI), carbon capture technology, and electric vehicle solutions.

Some of these collaborations include:

  • PLN Icon Plus with startups Magnar and Soca.AI for IoT and AI solutions.
  • PLN Enjiniring with TechnoGIS in AI applications for engineering.
  • PLN Nusadaya with Algatek for carbon capture technology.
  • PLN Electricity Services with Starvo in operation and maintenance of EV charging stations (SPKLU).
  • PLN Haleyora Powerindo with Charged, advancing electric vehicle fleets.

“We hope that through this collaboration, Indonesian energy startups will reach a global level and potentially become unicorns valued at over USD 1 billion, comparable to leading energy startups worldwide,” Hartanto concluded.

Photo – https://laotiantimes.com/wp-content/uploads/2025/05/pln_group_resmi_menjalin_kerja_sama_strategis_dengan_enam_startup_inovatif_dalam_rangka_mendukung_tr.jpg

Informa Markets launches FutureFWD – Charting the Future of Hospitality, Food and Beverage with Asia’s Leading Voices

25 September 2025 | EQ Kuala Lumpur | Delivered by Saladplate (Part of Informa Markets) www.saladplate.com/FutureFWD

KUALA LUMPUR, Malaysia, May 27, 2025 /PRNewswire/ — FutureFWD – Hospitality, Food & Beverage by Saladplate.com is designed to address and navigate the transformation sweeping through the food, beverage, and hospitality industries in the region. Taking place on 25 September 2025 at EQ Kuala Lumpur, the day-long programme brings together the region’s most influential leaders, innovators, and disruptors to examine the forces reshaping consumer expectations, technology, and market dynamics, offering strategic insights and forward-looking perspectives on the future of F&B in Asia. www.saladplate.com/FutureFWD

FutureFWD – Hospitality, Food & Beverage is organised by Informa Markets, one of the world’s leading B2B event organisers with a portfolio of over 550 international events. It forms part of its global Hospitality, Food & Beverage series, including in-person trade shows and the digital insights platform, Saladplate. Held alongside Food & Hospitality Malaysia (FHM), one of the region’s premier trade events taking place from 23–26 September 2025, the conference will deliver a high-impact programme of keynotes, panels, and thought leadership sessions. Anchored on the content themes of Trends, Technology, and Transformation, it explores how Asia’s F&B and hospitality sectors are being reimagined for the future.

“With FutureFWD, we’re building more than a conversation, we’re creating a catalyst for the industry’s future,” said Ian Roberts, Vice President – Asia, Informa Markets. Asia’s hospitality and F&B sectors are at a pivotal moment. By bringing together bold thinkers and forward-looking operators, our goal is to surface actionable insights that help partners adapt, innovate, and grow. Delegates can expect a dynamic day of ideas, inspiration, and meaningful connections with some of the region’s most influential voices.”

Inspiring The Industry

FutureFWD is designed for professionals across the hospitality and F&B ecosystem who are eager to stay competitive and future-ready. From business owners to those in consumer-facing roles such as mixologists, hoteliers, chefs and restaurateurs, to industry adjacent specialists such as food stylists, sustainability experts and hospitality designers, among others.

FutureFWD – Hospitality, Food & Beverage, launched by Informa Markets and delivered by Saladplate has Technomic, The Sustainable Restaurant Association and Food Made Good as event partners.

FutureFWD Programme Highlights 

The one-day conference and networking programme will dive deep into the forces driving the food, beverage and hospitality industry forward; from sustainability practices and tech-driven solutions to new consumer behaviours as well as design and creative experiences. All attendees will have access to the networking event at the end of the conference joining over 200 top buyers, retailers and distributors from the industry in Asia.

  • The Great F&B Reset

One of the headline sessions, The Great F&B Reset, brings together a powerhouse panel of industry leaders to explore how hospitality and F&B businesses can thrive amid disruption. With Asia’s culinary landscape evolving at breakneck speed, this session delivers critical insights on innovation, adaptability, and future-readiness.

Panelists:

Sameer Seth, Founder & CEO, Hunger Inc. Hospitality
Behind acclaimed concepts The Bombay Canteen, O Pedro, and Papa’s, Seth is known for reinterpreting tradition and regional Indian cuisine through compelling storytelling.

Stefanie Wijono, Deputy Director of Marketing & PR, The Union Group
A strategic force behind 28 of Jakarta’s most influential dining destinations, Wijono brings a sharp perspective on brand positioning, consumer engagement, and scaling in dynamic urban markets.

Sarissa Schwartz, Co-Founder & Managing Director, SJS Group
A veteran nightlife operator with a flair for concept innovation, Schwartz is the driving force behind venues such as COTU, Lulu’s Lounge, and Bang Bang. She also played a key role in launching Pangaea, once named the world’s highest-grossing nightclub per square foot by Forbes.

Moderated by:

Nicola Lee, Academy Chair for Southeast Asia (South), The World’s 50 Best Restaurants
A seasoned hospitality writer for Tatler Asia and The Business Times, Lee brings deep regional insight and a global perspective to the conversation.

  • X, Y, Z: Marketing Across Generations 

How can F&B brands stay relevant across generations? This session explores how to tailor communication for Gen X, Y, and Z in a fast-changing, digital-first world.

Speaker:

Kristian Olsen, Founder & Managing Director of Type A
A pioneer of social media marketing in SEA, Olsen has guided global brands like Jeep, WWE, and LG from broadcast to engagement. With roots in legacy networks and a sharp eye on the future, he crafts bold strategies that help brands resonate across generations, making him a leading voice on the subject.

  • Breaking the Mould: Hotel F&B Reimagined

Hotel F&B outlets are struggling to meet evolving guest expectations. No longer a mere amenity, food and beverage offerings are now a key driver of guest satisfaction, brand identity, and loyalty. This panel challenges hoteliers to rethink the potential of their F&B strategy, from concept and design to service and storytelling, to reimagine their outlets as destination-worthy experiences.

Panelists:

Emma Maxwell, Founder, Emma Maxwell Studio
One of Asia’s most sought-after hospitality designers, Maxwell is behind immersive, award-winning dining environments—including the Michelin-starred Burnt Ends in Singapore.

Petr Raba, Vice President of Food & Beverage, Asia Pacific (ex-China)
A seasoned hospitality executive, Raba brings deep regional expertise and a strong track record of revitalising hotel F&B strategies for global brands. His insights span innovation, concept development, and operational transformation.

Nicola Lee, Academy Chair, Southeast Asia (South), The World’s 50 Best Restaurants
A respected hospitality journalist and regional tastemaker, Lee offers a unique lens on evolving guest preferences.

Moderated by:

Sameer Seth, Founder & CEO, Hunger Inc. Hospitality
As an independent F&B operator known for redefining modern Indian dining, Seth brings a fresh, outsider’s perspective to the conversation, steering the panel with real-world insights on concept creation and brand differentiation.

  • Sipping on Sustainability

A fireside chat exploring circular innovation and eco-conscious solutions shaping the future of the drinks sector.

Speaker:

Paul Gabie, CEO of ecoSPIRITS and co-founder of Proof & Company
A pioneer in sustainable spirits distribution, globally recognised for transforming the sourcing, packaging, and serving of premium alcohol, earning him recognition on multiple industry influencer lists.

Moderated by:

Debbie Yong, Hospitality Communicator and Sustainability Advocate
A former journalist whose editorial career includes The Business Times, BBC, WGSN, and The Michelin Guide. She brings deep industry insight and a strong commitment to responsible hospitality to the exchange.

Delegate passes can be purchased on www.saladplate.com/FutureFWD | For more information or assistance, contact the Saladplate team at info@saladplate.com.

For further details on the complete schedule on 25 September, please see the Annexe attached with this email.

About Hospitality, Food & Beverage and Saladplate at Informa Markets

Informa Markets’ Hospitality, Food & Beverage portfolio includes a series of global in-person trade events and an online content and insights platform Saladplate, aimed at fostering business relationships, enabling learning, and enhancing trade opportunities for the industry. With several established events within the portfolio, such as Hotelex Shanghai, FHA, HOFEX, Fispal Food Service, and Abastur, the portfolio together offers an unparalleled audience reach across the world. Staging 35 live and digital events in major cities including Shanghai, Hong Kong, Singapore, Ho Chi Minh City, Seoul, Kuala Lumpur, Mumbai, Bangkok, Sao Paulo, and Mexico City. Working alongside established industry partners, government bodies, and recognised professionals, the portfolio aims to bring companies, individuals, and the industry to the forefront of global business innovation by offering solutions and opportunities that meet today’s business needs.

Since its launch in October 2023 with a renewed focus, Saladplate has reached over 600,000 industry professionals globally through its platform and hosts various products, focusing on unbiased news, content, and insights. Features on the platform include networking and learning events – Business Breakfast, country reports – Focus On Reports, a global supplier directory with over 35,000 suppliers listed and refreshed monthly, news articles, an e-magazine with an average monthly readership of over 45,000 professionals, and whitepapers and category reports.

For more information, please visit www.saladplate.com

About Informa Markets:

Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. We provide marketplace participants around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, targeted digital services and actionable data solutions. We connect buyers and sellers across more than a dozen global verticals, including Pharmaceuticals, Food, Medical Technology and Infrastructure. As the world’s leading market-making company, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year.

For more information, please visit www.informamarkets.com

For more information, contact:

Gautam Jatwani
Senior Marketing Manager – Hospitality, Food & Beverage Portfolio (Global)
Informa Markets
gautam.jatwani@informa.com

FutureFWD - Hospitality, Food & Beverage by Informa Markets
FutureFWD – Hospitality, Food & Beverage by Informa Markets

Logitech is Flipping the Script on Complex Meetings with Rally Board 65

All-in-one video solution packs advanced capabilities into a simple, mobile conferencing device

SINGAPORE and KUALA LUMPUR, Malaysia and HO CHI MINH CITY, Vietnam, May 27, 2025 /PRNewswire/ — Logitech (SIX: LOGN) (NASDAQ: LOGI), today announced Rally Board 65, an all-in-one portable video conference solution that combines intelligent audio and video with a 65″ touchscreen display. Rally Board 65 is simple enough to roll on a cart into satellite offices, yet sophisticated enough to pack a suite of AI-powered features, occupancy and environmental detection into traditional meeting rooms.

Rally Board 65 in Open Spaces
Rally Board 65 in Open Spaces

Businesses face this dilemma every day: they want to provide modern video conferencing tools for their hybrid workforces, but IT teams are grappling with increasing workloads as their tech environments become more complicated.

“Today’s hybrid workforce demands that every space—be it an open area, a traditional meeting room, or a collaboration zone—be video‑enabled and ready for spontaneous collaboration,” said Sharon Seah, Head of Sales (Singapore, Malaysia, Vietnam), Logitech for Business. “That insight led us to ask: how do you deliver enterprise‑grade conferencing intelligence without the deployment headaches? Rally Board 65 is our answer—a flexible, plug‑and‑play platform that dismantles the complexity companies face.”

The powerful, all-in-one video conferencing solution can be up and running within minutes in Android, PC, or BYOD mode, whether teams use Microsoft Teams, Zoom, or Google Meet*. Simply roll Rally Board 65 on a cart into an open space and flip the device 180 degrees to orient the camera at eye level, or install it in a meeting room with the camera above or below the screen–all with very little IT support.

Building on its exceptionally sharp 4K video, Rally Board 65 comes loaded with AI-powered audio visual tech RightSight 2 and RightSound 2 that have become hallmarks of Logitech’s video bars. To further refine the experience, Camera Zone limits visual framing and Mic Zone minimizes sound pickup within a designated area. The new Depth Blur technique obscures surroundings, an effect similar to background blur people are accustomed to using on their desktops during video calls.

“Think of this trio as a digital cocoon for meetings in open spaces,” said Henry Levak, VP of Product, Logitech for Business. “Rally Board 65 uses 3D spatial mapping technology to focus on the action in the meeting, not outside distractions.”

Sensors within Rally Board 65 detect the presence of people so that IT teams can get accurate readings of how and when employees are using video spaces. These sensors also analyze environmental data like humidity, temperature, and CO2 levels, assign a room health and later, will provide a room energy score, then deliver recommendations to increase ventilation, take breaks, or reduce the number of seats in a room.

Insights are fed into Logitech Sync, a centralized platform for IT teams to get a bird’s eye view of their organization, drill down for details on specific room performance, and automatically book and release rooms.

Approach to Sustainability
Using our Design for Sustainability principles, Rally Board 65 was engineered to minimize its environmental impact, using up to 41%* next-life plastics, low-carbon aluminum, recycled fabrics, and FSC-certified packaging.

Environmental benefits go beyond physical design. The radar system in Rally Board 65 allows the device to automatically switch to a lower power state when no one is in the space–a function that can significantly reduce the power consumption of customers’ commercial buildings.

Occupancy, room health, and energy sensing capabilities are also available in a standalone device, Logitech Spot.

* Certification details here  

** Graphite: 41%, Off-white: 27%

About Logitech
Logitech designs software-enabled hardware solutions that help businesses thrive and bring people together when working, creating, gaming and streaming. As the point of connection between people and the digital world, our mission is to extend human potential in work and play, in a way that is good for people and the planet. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and the Nasdaq Global Select Market (LOGI). Find Logitech and more of its business products and enterprise solutions at www.logitech.com/business, the company blog, Logitech Business or @LogitechBiz

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Logitech and other Logitech marks are trademarks or registered trademarks of Logitech Europe S.A. and/or its affiliates in the U.S. and other countries. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company’s website at www.logitech.com

LOGIIR

 

Front View of Rally Board 65 without cart
Front View of Rally Board 65 without cart

Camera Zones in Rally Board 65 powered by RightSight2
Camera Zones in Rally Board 65 powered by RightSight2

Samsung Electronics Introduces Its Most Advanced TVs and Soundbars Yet, Powered by Vision AI

Samsung puts customers’ lifestyles and viewing experience front and centre with its 2025 TV lineup, including Neo QLED 8K, Neo QLED 4K, OLED, and Lifestyle TVs.


SINGAPORE – Media OutReach Newswire – 27 May 2025 – Samsung Electronics Singapore unveiled its highly anticipated 2025 lineup of AI-powered TVs and soundbars at the Unbox & Discover event. Redefining home entertainment, the new range introduces the groundbreaking Samsung Vision AI. This transforms the way users interact with their screens, delivering deeply personalised and immersive experiences, and placing the TV at the heart of the connected smart home.

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The 2025 lineup is headlined by the flagship Samsung Neo QLED 8K and Samsung Neo QLED 4K TV series. These new offerings bring stunning visuals and immersive sound, and are the first to feature Samsung Vision AI1 with smarter, adaptive features that reimagine what Samsung TVs can do.

Samsung Neo QLED 8K QN990F is Samsung’s most advanced TV to date.
Samsung Neo QLED 8K QN990F is Samsung’s most advanced TV to date.

“At Samsung, we believe that the best innovations come from truly listening to our customers and understanding how they live their lives. We know that our consumers in Singapore value technology that feels more personal and intuitive. That is exactly what we set out to do with our 2025 lineup of AI-powered TVs,” said Patrick Khor, Head of Department, TV & Audio, Samsung Singapore. “Powered by our most advanced processors and Samsung Vision AI, our TVs have now become intelligent companions that adapt and learn your preferences, suggest content that matches your mood, while seamlessly connecting your smart home through SmartThings. Through technology, we are creating experiences that enrich the moments that matter most to families in Singapore.”

Samsung Vision AI Enabling Smarter, More Personal Screen Experiences
Samsung Vision AI represents the next step in Samsung’s journey to deliver intelligent, intuitive, and seamless screen experiences, and will be integrated across the 2025 range of Neo QLED, QLED, OLED, and The Frame models.

Samsung Neo QLED 4K QN90F continues to offer stellar viewing experience enhanced by AI and Glare-Free technology.
Samsung Neo QLED 4K QN90F continues to offer stellar viewing experience enhanced by AI and Glare-Free technology.

With the ability to make your Samsung TV aware of its surroundings, adaptive to user preferences and autonomous in delivering intuitive features, Samsung Vision AI transforms the brand’s 2025 AI TVs into smart companions that enhance entertainment, simplify interactions, and seamlessly integrate into connected lifestyles.

Samsung OLED S95F delivers impressive colour contrast and accuracy with our brightest-ever OLED screen.
Samsung OLED S95F delivers impressive colour contrast and accuracy with our brightest-ever OLED screen.

At the core of Samsung Vision AI are intelligent and personalised features which redefine how users interact with their screen and engage more deeply with their favourite content. Generative Wallpaper2 transforms screens into dynamic, personalised art canvases, allowing users to make images that perfectly match their taste or occasion. Own a Galaxy Watch? Universal Gestures3 lets you control your TV through your smartwatch – with simple hand motions like rotating the watch bezel to scroll the screen or making a fist to return to a previous menu.

The Frame Pro delivers even brighter and sharper visuals with Neo QLED technology.
The Frame Pro delivers even brighter and sharper visuals with Neo QLED technology.

Looking beyond personalisation, Samsung’s 2025 AI TVs come equipped with a built-in SmartThings Hub, transforming the TV into a central hub for smarter living through integration with the SmartThings ecosystem, as well as new SmartThings4 features that simplify and enhance daily life.

  • SmartThings Energy offers insights into energy consumption patterns, promoting efficient energy use throughout the home.
  • Family Care5 enhances comfort by automatically adjusting room settings, like dimming the lights when a child falls asleep, while providing real-time updates and recorded events through TVs.
  • With Pet Care6, potentially use your TV as a pet-sitting assistant when you are outside. Your TV can detect noises like barking through its microphone, and then automatically turn on your pet’s favourite content.
  • Home Insights4 provides notifications from your connected smart devices right on screen, including a 3D Map View that shows information and details of your entire smart home so that you can monitor and manage directly from the TV.

All your favourite apps, services and the latest Samsung Vision AI features are available through One UI Tizen – available now on all of Samsung’s 2025 range of Neo QLED, QLED, OLED, and The Frame models. One UI Tizen introduces a fresh, clean interface that mirrors what you will find on many Galaxy smartphones, tablets, and watches. It also allows your household to create separate profiles and receive curated recommendations tailored to their preferences. Samsung is now offering up to seven years7 of OS upgrades; this extends the longevity of each device, keeping it up to date with the latest features, security enhancements, and performance improvements, so that users’ investments in Samsung Vision AI-powered TVs are truly future proof.

Best paired with the Samsung 2025 TV line-up, the HW-Q990F and HW-QS700F offers audio optimisation to enhance the overall home entertainment experience.
Best paired with the Samsung 2025 TV line-up, the HW-Q990F and HW-QS700F offers audio optimisation to enhance the overall home entertainment experience.

Security is crucial for Singapore households today due to the increasing prevalence of cyber threats, and the need to protect sensitive personal information within households. Samsung TVs are protected by Samsung Knox, a comprehensive security platform that safeguards user data and privacy, with high security standards maintained for the benefit of home users. It helps to shield families from malicious threats by protecting sensitive data like passwords8, monitoring connected IoT devices, blocking phishing websites to protect against malicious sites, and enhancing personal information protection through Samsung Knox Vault. Samsung TVs also receive constant security updates, with a dedicated security team providing regular updates that help keep your TV safe, for at least 3 years from TV launch9, ensuring your family’s digital safety evolves with emerging threats.

Samsung continues to shape how people experience art at home by expanding access to the Samsung Art Store10, a premium digital platform for fine art exclusively on Samsung Smart TVs. For the first time, the Samsung Art Store will be available on 2025 Samsung Neo QLED 8K, Neo QLED 4K, and QLED models11, as well as on The Frame and MICRO LED series, making art from the world’s leading artists, museums, and galleries more accessible that ever. The Samsung Art Store offers access to a vast catalogue of over 3,000 curated works from prestigious global partners, including MoMA and the estates of Magritte and Basquiat.

Samsung 2025 TV lineup: Exceptional advancements, made possible with AI.
Samsung Vision AI also delivers exceptional advancements in picture and sound quality, making every on-screen moment captivating. On-device AI picture and sound technologies analyse content and environmental factors in real time, dynamically adjusting visuals and audio for an optimised experience.

The flagship Neo QLED 8K QN990F is Samsung’s most advanced TV to date, powered by the NQ8 AI Gen3 Pro processor12, leverages a suite of on-device AI features to enhance picture quality, sound clarity and overall viewing experience.

8K AI Upscaling Pro13 elevates lower-resolution content up to stunning 8K quality, ensuring incredible detail and clarity in every frame. Motion Xcelerator 240Hz14 ensures blazing fast motion clarity for gaming and sports, while AI Motion Enhancer Pro15 smooths the motion of fast-moving visuals and text, so you can always keep your eye on the ball. Dedicated top-channel speakers power Dolby Atmos sound, while Object Tracking Sound Pro16 provides dynamic, realistic audio that follows the movements on screen – like creepy footsteps in a horror movie or cars zooming around a track.

The QN990F also integrates our award-winning Glare-Free technology, offering stunning 8K visuals across dark and bright rooms. Plus, the all-new Wireless One Connect Box17 is a game changer for cable management, offering a wireless connection between the TV and the external box up to 30 feet away., allowing for cleaner installations and more flexible room setups.

The Samsung 2025 Neo QLED 4K lineup is our most expansive yet, including four model series (QN90F, QN85F, QN80F, and QN70F), all featuring Quantum Matrix Mini LEDs for stellar brightness and accurate colour across every scene.

The flagship QN90F features the upgraded NQ4 AI Gen3 Processor18, which offers improved picture and sound quality. The processor upscales older content into 4K resolution, while Neo Quantum HDR+19 analyses each scene to boost brightness and make visuals appear even more realistic. The QN90F also comes with Glare-Free technology, offering greater flexibility for placement of the TV regardless of lighting conditions at home. Motion Xcelerator 165Hz20 ensures ultra-smooth motion of action-packed content.

Our OLED lineup is also refreshed with the S95F series, featuring OLED Glare-Free technology that eliminates glare and reflections from sunlight or ambient lighting, while delivering impressive colour contrast and accuracy OLEDs are known for. The S95F boasts our brightest-ever OLED screen and OLED HDR Pro – delivering vibrant, full-screen brightness, deep blacks, and Pantone®-validated colours. Powered by the powerful NQ4 AI Gen3 Processor21 that optimises contrast, brightness, depth and colour across every scene, the TV can also upscale lower resolution content into brilliant 4K visuals. For gamers, Motion Xcelerator 165Hz14 ensures smooth motion and blazing fast speeds from even the most demanding games. Together, these upgrades make the S95F our best OLED yet, offering a cinematic picture without distractions.

A New Vision of Art: Introducing the Frame Pro
Samsung is strengthening its commitment to seamlessly blending art and technology with the launch of The Frame Pro, a new addition to the iconic Frame lineup. The Frame Pro enhances the art and entertainment experience with advanced Neo QLED picture quality that delivers brighter colours, sharper contrasts, and improved local dimming for deeper blacks. Powered by the NQ4 Gen3 AI Processor, The Frame Pro offers improved picture quality across your favourite artwork and shows. It also comes with the innovative Wireless One Connect, allowing for more flexible installations that blend in seamlessly with your environment.

A New Dimension of Sound with AI
To accompany the stunning 2025 AI TV lineup, Samsung has introduced a new range of soundbars that combine state-of-the-art hardware with intelligent AI-driven features, designed to elevate home entertainment with unparalleled sound.

As the successor to the highly acclaimed HW-Q990D, the HW-Q990F takes home audio to new heights. It features newly engineered dual active subwoofers that deliver robust bass and ultra-low-frequency precision. Plus, a new cube design reduces the subwoofers to half the size of its predecessor, minimising resonance and blending flawlessly into modern interiors with a refined serrated finish.

The HW-Q990F delivers advanced AI-driven sound optimization through features such as Dynamic Bass Control which enhances clarity in low-frequency ranges by utilizing non-linear bass management for balanced and distortion-free sound. Q-Symphony immerses the user in 3D surround sound by detecting the position of wireless speakers like the Music Frame and automatically optimising audio effects based on its distance and angle. In this mode, the HW-Q990F uses the Samsung TV’s Neural Processing Unit (NPU) to make dialogue clearer and to deliver more immersive, synchronised audio. Active Voice Amplifier Pro provides real-time content analysis that reduces background noise and emphasises dialogue for an enhanced viewing experience.

The HW-QS700F offers even more versatility in home audio with its sleek design and innovative gyro-sensor technology. Suitable for both wall-mounted and tabletop setups, this soundbar adapts to the user’s space. Its built-in gyro-sensor can automatically detect whether it is positioned vertically or horizontally, fine-tuning the audio output to ensure optimal clarity and immersive sound in any configuration.

Samsung AI TV Pre-order Promotions
No matter which Samsung screen you choose, you can shop confidently from the #1 global TV brand for 19 years running22.

Customers who pre-order a Samsung AI-powered TV can enjoy free gifts23 worth up to S$1,448, until 1 June 202524. Pre-order benefits include:

  • Free Galaxy Watch 7 (Bluetooth 40mm) worth S$448, when you purchase a TV that is 75″ and above.
  • Enjoy a trade-up value of up to S$1,000 when you trade in your old TV for the latest Vision AI TV25.
  • Enhance your space with a beautiful work of art. Get up to a 5-month free subscription to the Art Store26 worth S$6.99 per month.
  • Get an additional S$150 e-voucher when you purchase our latest soundbars with any Samsung TV27.

To learn more about the pre-order promotion, please visit www.samsung.com/sg/tvs/pre-order/.

For more information about the 2025 TV and sound systems line-up, please visit www.samsung.com/sg.


[1] Samsung Vision Al is only available on 2025 Neo QLED 8K, Neo QLED, OLED, QLED and The Frame TV models. Samsung Vision Al features vary by TV model. (Excludes Crystal UHD, FHD and HD TV models).
[2] Generative Wallpaper: The number of generation attempts allowed per day may be limited. The image depicted on the TV screen is AI-generated images created through the Generative Wallpaper function. This feature is not supported on OLED models. This feature is not supported in China.
[3] Requires Galaxy Watch 4 and higher / Wear OS 5 and higher.
[4] SmartThings: Available technology, functions and features may vary by country, service provider, network environment or product, and are subject to change without notice. Requires a Wi-Fi, Bluetooth or other wireless network connection and login to Samsung account. Connected devices are sold separately. UI is subject to change without prior notice.
[5] Family Care: Real-time streaming on mobile is supported on Android OS 11.0 and higher versions or iOS 16.0 and higher versions, and is available on 2025 Samsung TVs and later models. It only works when the TV is turned off. Real-time streaming on TV is also supported. Camera is sold separately.
[6] Pet Care: Real-time streaming on mobile devices is supported on Android OS 11.0 and higher versions or iOS 16.0 and higher versions, and is available on 2025 Samsung TVs and later models. It only works when the TV is turned off. TV must be connected to a power source to use this feature. TV and mobile device must be connected to SmartThings to send and receive notifications. Real-time streaming is not supported on TV. Camera is sold separately.
[7] Samsung Account required for network-based smart services, including streaming apps and other smart features. Computer, mobile or other device may be necessary to create/log in to Samsung Account (free to download and create). Without Account log in, only external device connections (e.g., via HDMI) and terrestrial/over-the-air TV (only for TVs with tuners) available. One UI Tizen OS updates are available for up to 7 years from the product release year starting in 2023. Availability, features, contents, apps and services are subject to change without notice and may vary by product and model. OS updates does not cover hardware-related performance, features or durability.
[8] Samsung Knox Security: Personal data includes directly input PIN-codes and passwords, and IoT device information shared through the SmartThings app. The latest software is required.
[9] Samsung Knox Security: Samsung Knox Security applies to Samsung TVs powered by Tizen®, launched since 2015. Latest software update is required.
[10] Fees apply to Art Store subscription service. Art pieces in the Art Store are subject to change without prior notice.
[11] Available models may vary by country.
[12] Utilises AI Based formulas to upscale to 8K resolution. Resulting picture may vary based on source content.
[13] Utilises AI Based formulas to upscale to 8K resolution. Resulting picture may vary based on source content.
[14] 4K 240Hz is only available with PC connected games that support such specifications (PC graphic card required). Performance may vary.
[15] Utilises AI-based formulas.
[16] Utilises AI-based formulas.
[17] TV must be connected wirelessly for full TV functionality. Wireless connection may be affected by surrounding environment, may not connect when enclosed or blocked by metal (e.g., from inside a metal cabinet) or by other physical objects such as walls. TV and Wireless One Connect require separate power cord connections.
[18] Utilises AI Based formulas to upscale to 4K resolution. Resulting picture may vary based on source content.
[19] Compared to Neo Quantum HDR, 50″ & 43″ QN90 have Neo Quantum HDR.
[20] 4K 165Hz is only available with PC connected games that support such specifications (PC graphic card required). Performance may vary. 115″ QN90 has Motion Xcelerator 144Hz.
[21] Utilises AI-Based formulas to upscale to 4K resolution. Resulting picture may vary based on source content.
[22] According to market research firm Omdia, Samsung achieved a 28.3% market share in the global TV market in 2024, maintaining the number one ranking it has held since 2006.
[23] Purchase of different products entitles you to different gifts.
[24] While stocks last. Terms & conditions apply.
[25] Trade-up value dependent on 2025 TV model selected. While stocks last. Terms & conditions apply.
[26] Free 5 months subscription to the Art Store is only applicable to the Frame Pro 75″ or 85″.
[27] Promotion applies to HW-Q990F/HW-Q800F / HW-QS700F only.

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

Samsung Electronics Co., Ltd.

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, home appliances, network systems, and memory, system LSI, foundry and LED solutions, and delivering a seamless connected experience through its SmartThings ecosystem and open collaboration with partners. For the latest news, please visit the Samsung Newsroom at .

JOYY Reports First Quarter 2025 Financial Results: Non-livestreaming Revenues Grew 25.3% year over year, Driven by Diversified Growth Strategy

SINGAPORE, May 27, 2025 /PRNewswire/ — JOYY Inc. (NASDAQ: JOYY) (“JOYY” or the “Company”), a global leading technology company, announced its unaudited financial results for the first quarter of 2025.

In the first quarter of 2025, JOYY’s revenue reached US$494.4 million, with its non-livestreaming revenue reaching US$123.0 million, representing a year-over-year increase of 25.3%. Non-livestreaming revenues accounted for 24.9% of the Company’s total revenues. JOYY’s GAAP and non-GAAP1 operating profits increased approximately 244.5% and 24.9% year-over-year to US$12.2 million and US$31.0 million, with operating margins of 2.5% and 6.3%, respectively. The Company maintained strong operating cash flow, which reached US$58 million.

JOYY continued to deliver returns to shareholders. During the first quarter, the Company distributed US$49.1 million in dividends to shareholders. On top of that, the Company repurchased approximately US$22.5 million worth of its shares from January 1, 2025 through May 23, 2025, reinforcing its commitment to returning value to shareholders.

Ms. Ting Li, Chairperson and Chief Executive Officer of JOYY, commented, “As we celebrate the 20th anniversary of our operations, we have evolved beyond social entertainment, steadily fostering a multifaceted ecosystem. Our multi-engine growth strategy is yielding clear results, with our core livestreaming business achieving consistent profitability, and our programmatic advertising platform, BIGO Ads, demonstrating strong growth momentum, which is fueled by AI-driven innovations in user insights, intelligent creative development, and precise targeting. We expect these advances to further strengthen our competitive advantages and position our non-livestreaming businesses to become JOYY’s second growth engine.”

First Quarter 2025 Financial Highlights

  • Net revenues in the first quarter of 2025 were US$494.4 million.
  • Operating income was US$12.2 million in the first quarter of 2025, compared to US$3.5 million in the corresponding period of 2024, representing a 244.5% year-over-year increase.
  • Non-GAAP1 operating income was US$31.0 million in the first quarter of 2025, compared to US$24.8 million in the corresponding period of 2024, representing a 24.9% year-over-year increase.
  • Net income from continuing operations attributable to controlling interest of JOYY was US$45.4 million in the first quarter of 2025, compared to US$45.3 million in the corresponding period of 2024.
  • Non-GAAP1 net income from continuing operations attributable to controlling interest and common shareholders of JOYY was US$63.2 million in the first quarter of 2025.

First Quarter 2025 Business Highlights

Livestreaming Business

In the first quarter, JOYY’s livestreaming revenue was US$371.3 million, with BIGO contributing US$351.6 million.

The Company is continuously optimizing its user acquisition strategy by prioritizing advertising spend on higher quality paying users in core markets. In the first quarter, Bigo Live’s North American region saw Q1 MAU growth exceeding 7% year-over-year. At the same time, the number of paying users in the region increased by approximately 4% QoQ.

During the first quarter, JOYY’s products actively promoted a series of operational activities related to Ramadan in the Middle East region, which drove regional user activity and helped boost their brand influence among users. Notably, Likee achieved positive QoQ growth in the number of paying users.

JOYY continued to make important product feature updates that are creating clear operational benefits. In the first quarter, Bigo Live continued to enhance its user experience. Specifically, it improved its recommendation system, directed more traffic toward high-potential content creators, and upgraded its viewing interface. These changes led to a 4% QoQ increase in average viewing time per user. At the same time, Bigo Live launched an entirely redesigned VIP benefits system and improved its gifting experience, upgrading gift features for high-value users. These efforts delivered a 3% QoQ increase in ARPPU among Bigo Live’s high-end user cohort.

Likee also advanced its content strategy by building a more diverse and engaging content library. This led to impressive engagement metrics during the quarter. Videos viewed per user rose by 7% compared to the previous quarter, with overall video consumption time increasing by 10% over the same period. The refined approach to top streamer management and development also produced a notable 3% QoQ increase in Likee’s average paying ratio during the quarter.

Advertising Business

The BIGO Ads revenue grew 27% in the first quarter, supported by the Company’s comprehensive strengths, including local operations, extensive user base, industry-leading algorithms, and global network infrastructure, continuing to generate a positive profit contribution.

By integrating premium publisher traffic with the Company’s first-party traffic, BIGO Ads creates an advertising system that helps advertisers consistently reach their most valuable customers worldwide. BIGO Ads provides an intelligent, end-to-end advertising platform that covers user insights, creative development, precise targeting, and real-time optimization, leveraging its extensive global audience and years of quality data to build its own vertical model, integrating cutting-edge generative AI technologies. Its AI usage improves ad performance and ad returns while creating better revenue opportunities for the Company’s publisher partners. This success attracts both more advertiser spending and more publisher traffic, helping the BIGO Ads platform grow quickly.

1.This press release includes certain non-GAAP financial measures as additional clarifying items to aid investors in further understanding the Company’s performance and the impact that these items and events had on the financial results. The non-GAAP financial measures provided above should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP. For details of the non-GAAP measures, including the reconciliations of GAAP measures to non-GAAP measures, please refer to the press release titled “JOYY Reports First Quarter 2025 Unaudited Financial Results” issued by the Company on May 27, 2025.

ZYLOX Unicorn™ Vascular Closure Device Receives Regulatory Approval in Indonesia

HANGZHOU, China, May 27, 2025 /PRNewswire/ — Zylox-Tonbridge Medical Technology Co., Ltd. (“Zylox-Tonbridge” or the “Company”) today announced that its proprietary ZYLOX Unicorn™ Vascular Closure Device (VCD) has received regulatory approval in Indonesia. This marks the ZYLOX Unicorn™ Vascular Closure Device’s first international market clearance and the Company’s first market authorization in Southeast Asia—representing a significant step forward in its international expansion strategy.

As China’s first domestically developed vascular closure device, the ZYLOX Unicorn™ VCD offers an extended closure range from 5F to 22F and is compatible with large-bore access sites (≥8F), enabling broader clinical applications and addressing previously unmet needs in vascular intervention. Designed to meet global standards, the ZYLOX Unicorn™ VCD has demonstrated strong safety and efficacy in premarket clinical trials. The system facilitates effective vascular closure, shortens patient immobilization time, and reduces the risk of puncture-site complications—delivering high-quality, affordable care to a wider patient population. The product was granted marketing authorization in China in June 2024.

Indonesia, the world’s fourth most populous country, represents a major opportunity for expanding access to advanced vascular intervention solutions. The approval of the ZYLOX Unicorn™ VCD in this key market will provide local physicians and patients with greater access to comprehensive vascular intervention solutions and support Zylox-Tonbridge’s continued expansion across Southeast Asia.

Zylox-Tonbridge’s overseas business has grown rapidly in recent years, generating approximately USD 3.1 million in revenue in 2024, with a four-year compound annual growth rate (CAGR) of 87%. The Company’s business footprint spans Europe, the Americas, the Middle East, and Africa, covering countries such as France, Germany, Italy, Spain, Turkey, Saudi Arabia, Argentina, Brazil, and South Africa. In 2025, Zylox-Tonbridge showcased key products at major global congresses including LINC, PAIRS, CICE, and ESOC, boosting its international brand visibility.

Looking ahead, Zylox-Tonbridge remains committed to its mission of “Innovation for Quality Life” and will continue expanding global access to high-quality, affordable treatment solutions through enhanced localization and strategic market entry.