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CryptoLab and UClone Partner to Bring First Fully Homomorphic Encryption-Powered AI Agents to Consumers

SAN FRANCISCO, April 28, 2025 /PRNewswire/ — CryptoLab, a leader in fully homomorphic encryption cryptography solutions, and UClone, a pioneer in personalized AI, today announced a collaboration to integrate CryptoLab’s Encrypted Vector Search (ES2) for Retrieval-Augmented Generation (RAG) into UClone’s AI agent platform. This partnership marks the first time fully homomorphic encryption is being used to secure AI agents, ensuring unparalleled data privacy and security for users.

A groundbreaking demo that displays UClone’s AI agent powered by CryptoLab’s Encrypted Search will be showcased at the RSA Conference in San Francisco.

CryptoLab and UClone Partner to Bring First Fully Homomorphic Encryption-Powered AI Agents to Consumers
CryptoLab and UClone Partner to Bring First Fully Homomorphic Encryption-Powered AI Agents to Consumers

Key Highlights:

  • Enhanced Privacy: CryptoLab’s Encrypted Search. UClone agent to perform RAG operations on encrypted data, ensuring user data remains encrypted and private even during processing.
  • First-of-its-Kind Solution: This collaboration brings the first AI agent solution using homomorphic encryption to the consumer market, setting a new standard for data privacy in AI applications.
  • Private and Personalized AI: By leveraging homomorphic encryption, UClone agents can deliver personalized experiences while maintaining the highest levels of data security and compliance.
  • RSA Conference Demonstration: Attendees of the RSA Conference in San Francisco will have the opportunity to witness the live demonstration of this innovative technology.

“This is a pivotal moment for data security and private AI,” said Michael Pak, CPO of CryptoLab. “It is fitting that the UClone–CryptoLab partnership launches at RSA, as two of the pioneers behind RSA cryptography—Rivest and Adleman—along with Dertouzos, first proposed the concept of homomorphic encryption in 1978.” Pak added, “Through the half-century of cybersecurity, many technologies have come and gone, but cryptography has remained the security anchor for information technology innovations.” He further stated, “The partnership between UClone and CryptoLab marks the beginning of a new era; one where the convenience and power of AI are backed by data privacy, anchored in mathematics.”

“Privacy and security are front and center at UClone. Our users trust us with sensitive information, and we chose CryptoLab’s Encrypted Search for its unmatched data privacy, seamless integration, and resilience against both current and future cyber threats,” said Kenny Lim, Advisor at UClone. Lim added, “As we expand our groundbreaking multi-agent AI social platform to new customers and markets, we look forward to a lasting partnership with CryptoLab and broader adoption of homomorphic encryption technology.”

About CryptoLab:

CryptoLab, Inc. (www.cryptolab.co.kr) is a leader in fully homomorphic encryption (FHE) technology. We hold the original patent for the widely adopted 4th generation FHE scheme CKKS. Our mission is to deliver practical yet mathematically proven data privacy solutions that enable private AI.

At this year’s RSA Conference, CryptoLab will showcase Encrypted Vector Search, a high-performance data privacy system that enables the processing of sensitive vector embeddings, such as those used in facial recognition and personalized RAG-LLMs without decryption. CryptoLab is headquartered in Seoul, Korea, with offices in France, and San Jose, California. For more information, please visit us at RSA booth S-0634 or email us at info@cryptolab.com.

About UClone:

UClone is a Silicon Valley startup at the forefront of the artificial intelligence revolution, offering the groundbreaking UClone service. UClone is a multi-agent AI social platform where each AI Clone is an agent residing in a virtual environment. These agents interact and collaborate, accumulating knowledge through their interactions. UClone focuses on enabling private data handling and secure communication between agents, incorporating private RAG (Retrieval-Augmented Generation). UClone is operated by UClone Inc., a Silicon Valley startup founded in 2024. (http://www.uclone.net).

VinFast Announces 1Q25 Global Deliveries and Date for the Release of First Quarter 2025 Results


HANOI, VIETNAM – Media OutReach Newswire – 28 April 2025 – VinFast Auto Ltd. (“VinFast” or the “Company”) today announced its preliminary vehicle deliveries for the first quarter of 2025. The Company delivered 36,330 electric vehicles (“EVs”) globally in 1Q25, representing a 296% increase year-over-year.

In the first quarter of 2025, deliveries of the VF 6 model increased by 453% compared to the same period in 2024.
In the first quarter of 2025, deliveries of the VF 6 model increased by 453% compared to the same period in 2024.

Notably, VF 5 (A-segment SUV) deliveries grew 153% year-over-year and VF 6 (B-segment SUV) deliveries grew 453% year-over-year.

VF 3 (mini-SUV) and VF 5 accounted for 67% of total deliveries during the quarter, indicating strong market acceptance for VinFast’s compact and agile urban vehicle lines.

VinFast also announced it delivered 44,904 e-scooters and e-bikes in 1Q25, representing a 473% increase year-over-year.

Madam Thuy Le, Chairwoman of VinFast, said: “Having established a resilient foundation for expansion in 2024, VinFast is poised for significant momentum moving into 2025. Our diverse range of electric vehicles provides us with the confidence to maintain steady growth, adapt effectively to evolving market demands and navigate macroeconomic fluctuations. The VF 3 and VF 5 continued their strong performance as key growth drivers in 1Q25, alongside the promising emergence of models like the VF 6. For 2025, VinFast is steadfast in our mission to spearhead the global adoption of green transportation through innovative, smart vehicles; alongside our efforts to maintain a leading market share in Vietnam and gradually achieve substantial international growth.”

Vietnam remains a crucial driver of VinFast’s delivery growth. Aligned with its commitment to leading the green transition in its home market, the Company has implemented compelling incentive programs and has officially started pre-orders for its “Green” vehicle lineup. This initiative is facilitated through a partnership with GSM and VinFast’s extensive distribution network across the country.

Globally, VinFast is strategically expanding its presence in high-potential Asian markets. The Company has officially launched in India, introduced three models in Indonesia, and five models in the Philippines. Simultaneously, VinFast is actively expanding its network of dealer stores and service centers across these key markets.

Underpinning its commitment to meeting escalating demand for green mobility, VinFast is accelerating the development of its global manufacturing footprint. The Company anticipates the operationalization of new production facilities in Indonesia, India, and Ha Tinh (Vietnam) in line with its strategic global expansion roadmap.

The Company also announced that it will release its 1Q25 financial results before the market opens on June 9, 2025. On the same day, VinFast’s management will hold a live webcast to discuss the Company’s business performance and strategy. Details for the call are below:

A replay of the webcast will also be made available on the Company’s website.

For additional information, please visit ir.vinfastauto.us.

Investor Relations Email: ir@vinfastauto.com
Media Relations Email: info@vinfastauto.com

Note: Preliminary delivery results are subject to change and may differ from the final number of deliveries that will be recognized as vehicle sales revenue for the period as a result of the year end audit.

Forward Looking Statements

Forward-looking statements contained herein, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1955. These statements include statements regarding our future results of operations and financial position, planned products and services, business strategy and plans, objectives of management for future operations of VinFast, market size and growth opportunities, competitive position and technological and market trends and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “shall,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “goal,” “objective,” “seeks,” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the risk associated with being a growth-stage company in the EV industry; (ii) the unavailability, reduction or elimination of government and economic incentives or government policies that are favorable for EV manufacturers and buyers; (iii) Significant changes or developments in U.S. laws or policies, including changes in U.S. trade policies and tariffs and the reaction of other countries; (iv) the Company’s ability to adequately control the costs associated with its operations; (v) the risks of the Company’s brand, reputation, public credibility, and consumer confidence in its business being harmed by negative publicity; (vi) competition in the automotive industry; (vii) the ability of the Company to obtain components and raw materials according to schedule at acceptable prices, quality, and volumes from its suppliers;(viii) the demand for, and consumers’ willingness to adopt, EVs; (ix) the availability and accessibility of EV charging stations or related infrastructure; (x) failure to remediate the Company’s material weaknesses and produce timely and accurate financial statements; (xi) the ability of the Company to achieve profitability, positive cash flows from operating activities, and a net working capital surplus; (xii) the Company’s ability to obtain commercially reasonable capital to support its business growth; (xiii) the risk of future restatements to the Company’s Financial Statements; (xiv) the Company’s reliance on financial and other support from Vingroup and its affiliates and the close association between the Company and Vingroup and its affiliates; (xv) the Company’s reliance on its affiliates for its EV deliveries; (xvi) the ability of the Company’s controlling shareholder to control and exert significant influence on the Company; and (xvii) other risks discussed in our reports filed or furnished to the SEC.

All forward-looking statements attributable to us or people acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. You are cautioned not to place undue reliance on any forward-looking statements, which are made only as of the date hereof. VinFast does not undertake or assume any obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions, or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If VinFast updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements. The inclusion of any statement herein does not constitute an admission by VinFast or any other person that the events or circumstances described in such statement are material. Undue reliance should not be placed upon the forward-looking statements.

Hashtag: #VinFast

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

About VinFast

VinFast – a subsidiary of Vingroup JSC – is Vietnam’s leading automotive manufacturer committed to its mission of creating a green future for everyone. VinFast manufactures a portfolio of electric SUVs, e-scooters and e-buses in Vietnam and exports to the United States and Europe. Learn more at .

VinFast deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the average selling price and various cost components.

SIMAGIC Launches Alpha EVO Series: A New Era of Force Feedback Performance

LOS ANGELES, April 28, 2025 /PRNewswire/ — SIMAGIC is proud to unveil the new Alpha EVO wheelbase series — the next-generation evolution of their industry-leading direct drive ecosystem. After four years of continuous Alpha series support and refinement, the new Alpha EVO lineup has been completely reengineered from the ground up to redefine price-to-performance in the sim racing world.

Simagic_EVO_Wheelbase
Simagic_EVO_Wheelbase

Available in three torque configurations, Alpha EVO Sport (9Nm), Alpha EVO (12Nm), and Alpha EVO Pro (18Nm), this new lineup brings cutting-edge performance to sim racers of all skill levels, from grassroots enthusiasts to the simracing elite..

“Alpha EVO is our clean slate. It’s been four years since we’ve released a new wheelbase. We’re taking what was great about the Alpha series and pushing it even further, especially in road feel and long-term performance.” shared Barry Li, founder and CEO of SIMAGIC.

Zero-Cogging, Next-Generation Performance

At the heart of the Alpha EVO is a brand-new, in-house designed 5-pole servo motor featuring SIMAGIC’s self-named “Zero-Cogging” technology and ultra-low inertia. The result is a radically smoother and more responsive driving experience with crisp feedback and increased precision, even during the most delicate cornering or aggressive high-load maneuvers.

Performance is further enhanced by a 21-bit high-resolution encoder, an all-new active cooling system, and SIMAGIC’s next-generation DFDF algorithm (Dynamic Force Domain Filter) inside the newly updated SimPro Manager 2.1 software.

Alpha EVO, much like its predecessor, continues with its open ecosystem support, with support for third-party wheels (via 70mm bolt pattern + QR-A adapter), CAN FD and USB protocols, and reserved dash module support (with SimHub) for future accessories.

“What excites me the most is how confident EVO feels, even under pressure. It punches way above its price bracket, especially the Pro model,” shared Elliot Maddox, Head of Global Marketing at SIMAGIC.

Pricing and Availability

Alpha EVO Sport (9Nm) – $399 USD
Alpha EVO (12Nm) – $549 USD
Alpha EVO Pro (18Nm) – $699 USD

The Alpha EVO series will be available globally through SIMAGIC’s official distributors and website from April 28th, 2025 at 14:00 UTC.

About SIMAGIC

Founded in 2018, SIMAGIC is a leading manufacturer of professional sim racing hardware. With over 100 global distributors and a growing worldwide fanbase, SIMAGIC is known for delivering uncompromising performance at competitive prices, standing as a brand trusted by the global sim racing community.

2024 Global Semiconductor Materials Market Posts $67.5 Billion in Revenue, SEMI Reports

MILPITAS, Calif., April 28, 2025 /PRNewswire/ — Global semiconductor materials market revenue increased 3.8% to $67.5 billion in 2024, SEMI, the global industry association representing the electronics design and manufacturing supply chain, reported today in its Materials Market Data Subscription (MMDS). The recovery of the overall semiconductor market as well as the increasing demand for advanced materials for high-performance compute and high-bandwidth memory manufacturing supported 2024 materials revenue growth.

Wafer fabrication materials revenue increased 3.3% to $42.9 billion in 2024, while packaging materials revenue grew 4.7% to $24.6 billion last year. The chemical mechanical planarization (CMP), photoresist, and photoresist ancillaries segments experienced strong double-digit growth driven by increased complexity and number of processing steps required for advanced DRAM, 3D NAND flash and leading-edge logic integrated circuits (ICs). All semiconductor materials segments, except for silicon and silicon-on-insulator (SOI), registered year-on-year increases. The demand for silicon, particularly in the trailing edge segment, remained weak in 2024 as the industry continued to work through excess inventory, resulting in a 7.1% decline in silicon revenue in 2024.

Worldwide Semiconductor Materials Market
Worldwide Semiconductor Materials Market

Taiwan, with $20.1 billion in revenue, was the world’s largest consumer of semiconductor materials for the 15th consecutive year. Mainland China, at $13.5 billion in revenue, continued to register year-over-year growth, ranking second in 2024, while Korea followed as the third largest consumer with $10.5 billion in revenue. All regions, except for Japan, posted single-digit increases in 2024.

Semiconductor Materials Market Revenue by Region
Semiconductor Materials Market Revenue by Region

The Materials Market Data Subscription (MMDS) from SEMI provides annual revenue with 10 years of historical data and a two-year forecast. The annual subscription includes quarterly updates for the materials segment and reports revenue for seven market regions (North America, Europe, Japan, Taiwan, South Korea, Mainland China and Rest of World). The report also features detailed historical data for silicon shipments and revenues for photoresist, photoresist ancillaries, process gases and lead frames.

For more information about the report or to subscribe, please contact the SEMI Market Intelligence Team at mktstats@semi.org. More details are also available on the SEMI Market Data webpage.  

Download a sample of the MMDS report.

About SEMI

SEMI® is the global industry association connecting over 3,000 member companies and 1.5 million professionals worldwide across the semiconductor and electronics design and manufacturing supply chain. We accelerate member collaboration on solutions to top industry challenges through Advocacy, Workforce Development, Sustainability, Supply Chain Management and other programs. Our SEMICON® expositions and events, technology communities, standards and market intelligence help advance our members’ business growth and innovations in design, devices, equipment, materials, services and software, enabling smarter, faster, more secure electronics. Visit www.semi.org, contact a regional office, and connect with SEMI on LinkedIn and X to learn more.

Association Contact

Sherrie Gutierrez/SEMI
Phone: 1.831.889.3800
Email: sgutierrez@semi.org

 

BlueFocus CEO Fei Pan: Redefining the Marketing Landscape Through AI and Globalization

BEIJING, April 28, 2025 /PRNewswire/ — Recently, BlueFocus released its 2024 Annual Report, recording a total revenue of RMB 60.797 billion for the year, marking a 15.55% year-on-year increase and making it the first marketing company in China to surpass the RMB 60 billion milestone. Below is “A Letter to Our Investors” by BlueFocus CEO Fei Pan.

Fei Pan's quote on company positioning
Fei Pan’s quote on company positioning

Dear Investors,

This year marks the 15th anniversary of BlueFocus’s public listing, and the forthcoming 30th anniversary of our founding. From our origins as a modest local company, we have steadily grown into one of the world’s top ten Marketing and Communications Groups—a transformation made possible by your enduring support, trust, and encouragement. On behalf of the entire BlueFocus Group, I extend my deepest gratitude. To our shareholders, clients, partners, and above all, the colleagues who have walked alongside us through every challenge and triumph, I say thank you. BlueFocus would not be what it is today without you.

China’s marketing industry has reached a scale of over RMB 1 trillion, and the global outbound market is of comparable size. Together, these two trillion-RMB arenas now stand at the cusp of a historic transformation, one that will be fundamentally reshaped by Artificial Intelligence (AI). At such a pivotal moment in time, conservatism and complacency are nothing short of perilous. I often ask myself: What is the underlying logic that sustains our long-term growth? What is the true value and meaning of our existence? And what does it mean to truly honor the legacy of tradition and the past? I believe the answer lies in one word: innovation, which is the drive to build a better, stronger, and more resilient BlueFocus.

What does a reimagined BlueFocus look like? It means transforming ourselves into a true AI-powered Marketing Technology Company, breaking away from the traditional logic and business models that have defined marketing since its inception. It means becoming a global company, rooted in China and built to thrive on the world stage. It means growing into an enterprise of RMB 100 billion scale, one that combines technological DNA with global imagination. This is not merely a vision, but a clear and deliberate pursuit. If we succeed, it will have profound meaning for our industry, our clients, our shareholders, and our colleagues. If we fail, it will still be a failure we can wear with pride. AI represents both the greatest opportunity and the greatest risk our generation has ever encountered. And as I have said before: AI is the defining core of BlueFocus. It will either dismantle us or redefine us into something entirely new. In the face of deep uncertainty, we must confront today’s challenges with the mindset of tomorrow, grounded in the perspective and logic of the AI era. We must think and act with the end in mind, and seize the new opportunities ahead. If we do, I believe that many of the questions and challenges we face will resolve themselves, and light will break through where the road once seemed unclear.

From here, I would like to share our current status and forward-looking thoughts by aligning the vision with operational realities. This reflection is centered around three key questions that address the concerns shared by many of you: How substantial is the value behind BlueFocus’s “All in AI” strategy? Amid growing geopolitical and trade tensions, how are we approaching and adapting our massive global outbound business? And finally, how healthy is BlueFocus’s overall operational performance, and what potential risks do we foresee?

First question: At a time when everyone is declaring they’re All in AI, what is the real value behind BlueFocus’s All in AI strategy? And more importantly, what does it truly mean to be All in AI?

Let me first return to the origin, to speak about intention, mindfulness, and long-termism. Today, AI has deeply integrated into more than 95% of BlueFocus’s operational scenarios, driving efficiency gains across integrated marketing, intelligent advertising, and our global outbound business, with improvements ranging from 60% to 1000%. These numbers look promising, and efficiency gains have indeed become the dominant narrative of today’s All in AI era. While AI’s role in lowering costs and boosting efficiency is substantial, for BlueFocus, they are not the metrics that define our strategic intent. If AI is to be our generation’s defining paradigm shift, then starting with cost reduction as our primary aim risks leading the company into strategic disorientation. Our goal is clear: to fundamentally restructure everything through an “AI Native” approach and logic, reimagining business scenarios, redefining and inventing new business models, reshaping the talent-to-business structure, and rebuilding our organizational structure and culture. Only by doing so can we move closer to, and be worthy of, our strategic ambition: to become a truly AI-powered Marketing Technology Company.

For BlueFocus at this stage, there are elements far more important than the raw numbers behind cost reduction and efficiency gains.

It starts with real, sustainable business scenarios. These are environments where AI capabilities are continuously iterated through practical application, and where both process and outcome data can be labeled and refined. Today, BlueFocus uses AI to generate nearly 80,000 pieces of content each week across data analysis, content creation (text, images, video, and multimodal formats), and code generation. Our AI tools currently support around 600 clients, and in the past year alone, we executed over 1,500 AI-driven cases. On the revenue side, AI-enabled revenue has grown more than tenfold, reaching RMB 1.2 billion. We expect to achieve RMB 3 to 5 billion in AI-driven revenue by 2025, and in just the first quarter of this year, that figure has already nearly matched our full-year total from last year. Looking ahead, my aspiration is for AI-driven or AI-powered revenue to surpass RMB 10 billion in the coming years. This RMB 10 billion in AI revenue will be defined by three benchmarks: high gross margins, high AI intensity, and the emergence of new revenue models made possible by AI. Ultimately, 70% to 80% of BlueFocus’s future revenue must be reshaped by AI, transformed into high-quality revenue. It is not the usage volume, the number of cases, or even revenue that matters most. What’s essential is the ability to iterate AI deeply within business scenarios, where data, workflows, and operational logic are continuously refined. This is the defining benchmark for whether BlueFocus can truly become an AI-driven company.

It requires a truly self-developed AI platform and model. BlueAI is fast becoming the new engine that powers AI-driven applications across BlueFocus. It is our proprietary AI platform, our own “multimodal AI model for marketing,” purpose-built to meet BlueFocus’s strategic needs. What has BlueAI achieved so far? First, we have established deep and comprehensive partnerships with the world’s leading large model and intelligent cloud providers, including ByteDance Volcano Engine, Baidu AI Cloud, Alibaba Cloud, Microsoft Azure, Google Cloud, and Amazon Web Services. Building on these foundations, we are developing our own industry-specific models tailored to marketing scenarios. Second, through real-world marketing applications and case-driven deployment, we have already labeled and trained over 120 million anonymized industry data points. Of these, 66.9% come from video-related data, 23.3% from advertising performance data, and 9.8% from social media text data. Third, BlueAI now supports more than half of BlueFocus’s project cases across both global and domestic marketing scenarios. Internally, we have incubated approximately 100 AI agents to scale and deepen our capabilities. Looking ahead, we aim to build on our growing base of content-scale data to power a self-reinforcing data flywheel, from factual data annotation, to content creation and delivery, to continuous deep learning. Our ambition is for BlueAI to become the most competitive model in the marketing industry and the next strategic engine of BlueFocus. When the time is right, we will also consider opening it to the broader industry, establishing it as a core infrastructure for the future AI marketing ecosystem.

It builds on true AI infrastructure and robust data systems. By the end of this year, BlueFocus is projected to label over 200 million data records across marketing scenarios, with API token usage approaching hundreds of billions in scale. Coupled with the growing pool of process, operational, and media performance data accumulated across our business middleware systems, we are laying the groundwork for “emergent intelligence” under the new AI paradigm. Our top priorities for 2025 include the development of AI Agents; the modularization and API enablement of core marketing automation tasks, such as generation, publishing, and analytics; the fine-tuning and retraining of domain-specific models; and continued investment in both data and technology for video-based AI models.

It takes deep organizational transformation and a bold talent strategy shift. At the organizational level, AI has become a hard-coded standard embedded in recruitment, promotion, and incentive structures. “No AI, No Bonus, No Promotion” is not just a slogan, but a decision-making principle that guides how we operate. We have appointed a Chief Growth Officer for AI and established AI Business Partner (AI BP) roles across all business units, each with real influence and decision-making authority. In parallel, AI awareness and performance indicators have been integrated into executive-level accountability frameworks. This is the key to breaking through structural ceilings, because in the journey to go All in AI, the greatest obstacle is not technical, but cognitive. Looking ahead, I expect 30% to 50% of our management team to be AI-proficient or AI Native. These leaders, together with AI seed talent and product and technology professionals, will become some of the highest-earning individuals in the company and in the industry, entrusted with the mandate to “steer” core business decisions. Those who master AI will be promoted through accelerated, unconventional pathways. Those who do not will be gradually sidelined, as we fully commit to an “AI First” model. Today, BlueFocus already has nearly 300 product and technology professionals and 200 AI Native seed talents. They are our strategic safeguard in becoming AI Native, and the foundation of our innovation. We are embedding technical DNA, internet-native thinking, and first-principles logic into the heart of our organization. The ultimate organizational form of BlueFocus is a hybrid: “a high-tech company and a marketing company, integrated into a singular, future-ready organization.”

With real scenarios, datasets, technology platforms, and a fundamental shift in organizational paradigms, we are methodically constructing durable vertical moats, barriers that differentiate us not only from general-purpose foundation models but also from competitors within our own industry. And of course, one thing matters most of all—resolve. In 2025, our support for AI innovation remains unconditional. Beyond continuing the foundational pillars outlined above, we are also pursuing several difficult but essential breakthroughs: First, a breakthrough in AI Agents. BlueFocus currently operates around 100 AI Agents. Our goal is for at least 20 of them to reach expert-level performance, evolving from Account Executive (AE) capabilities to advanced specialist roles, and ushering in a new era of human-AI interaction. Second, a breakthrough across the end-to-end AI-powered marketing lifecycle. This refers to the complete AI-driven workflow, from strategy development and data insight, to content generation, media delivery, and continuous optimization through reinforcement learning. In this new paradigm, AI takes the lead from start to finish, while humans transition into roles of orchestration, instruction, and outcome extraction. Internally, platforms such as the Star Union AI Platform and the Blue Converse are expected to become fully operational this year. Third, a breakthrough in multimodal and video-based AI models. While large language models have already entered the fast lane, the world of multimodal and video AI remains a largely unexplored frontier, brimming with creative and commercial potential. After more than a year of continuous development, the BlueAI Video Producer has formed deep collaborations with leading platforms such as Kuaishou Kling, Midjourney, MiniMax Hailuo, ByteDance Seaweed, ShengShu Vidu, and AISphere PixVerse. The platform integrates script generation, video retrieval, AI-based editing, and content production functionalities into a unified system, and is already being deployed at scale across advertising campaigns, social media content operations, and premium TVC content creation. In March 2025, BlueAI entered into a global strategic partnership with Adobe. By combining Adobe AI and its customer experience platform with BlueAI and BlueFocus production workflows, we aim to deliver cinematic-quality, TVC-grade video content across our marketing ecosystem. The final breakthrough, and the one I value most, is the breakthrough in AI Native innovation models. In the era of AI, if BlueFocus remains a company whose core business is still agency-based services, then we have failed. Our ambition is to use the AI era as a springboard to transcend our traditional role as “intermediaries” and redefine value creation at its core. This innovation takes two forms. The first is fully “AI-native” innovation: building new traffic engines, new content ecosystems, AI-native short-form storytelling, and entirely new AI-driven advertising models, all fundamentally constructed through AI. To that end, we have already incubated a number of internal innovation projects. If results prove promising, I look forward to sharing them with you in detail in next year’s letter. The second is the relaunch of our AI investment capabilities, an enduring advantage as we navigate this generational transformation.

Second question: Amid ongoing trade tensions, how should we think about and respond to the challenges facing our large-scale global outbound business?

Let me begin with the conclusion: the impact of current trade tensions on BlueFocus’s global outbound business has been manageable and contained in scope, and in fact, offers a strategic window for recalibrating our outbound strategy. The most affected sector has been cross-border e-commerce in the U.S. market, which accounts for approximately 12% of BlueFocus’s outbound business. While shifting tariff policies introduce short-term complexities, the overall business structure remains resilient and well within manageable bounds. Based on in-depth conversations with multiple clients, the broader industry is proactively embracing market diversification, accelerating expansion into high-average-order-value markets in Europe, high-growth regions like Southeast Asia, and fast-emerging opportunities in Latin America. Market volatility, while challenging, often reveals strategic openings for those positioned to move with agility. We remain confident in both the long-term trajectory of global e-commerce and the continued expansion of BlueFocus’s outbound business in 2025.

In 2024, we officially launched our Global Outbound Business 2.0 strategy. So, what does 2.0 signify for us? In short, it marks a shift away from a traditional agency-driven model toward one that is powered by technology, AI, and localized operations, ushering in a new era of proprietary traffic development and self-built competitive infrastructure. As of last year, BlueFocus had established localized offices in nine countries, including the United States, Singapore, Japan, the Netherlands, Canada, Saudi Arabia, Vietnam, Thailand, and Brazil. Several of these overseas entities already show strong potential to scale profitably. At the same time, we formally launched two proprietary traffic platforms, BlueX and BlueTurbo, signaling the official start of our technology-driven transformation in global markets. What gives us such confidence in the potential of the 2.0 paradigm? We begin with the traffic landscape: nearly 30% of global web traffic remains outside the coverage of major platforms, creating fertile ground for platform- and technology-driven innovation. Next, consider the client-side opportunities. So far, our outbound team has built a customer base of nearly 100,000. Across this vast client pool, we are seeing growing marketing budgets and increasingly diversified demands, indicating that any partner capable of offering new capabilities stands a real chance of capturing new budget streams. Finally, in a global landscape shaped by diverse cultural and socio-economic contexts, resource and information barriers remain high. This is precisely why we continue to invest in building local offices, because bridging those cultural, resource, and knowledge gaps is the key to enhancing our overall competitiveness and value proposition on a global scale.

We remain firmly committed to global expansion. Although the broader environment is filled with risks and uncertainties, periods of volatility often give rise to new rules and opportunities. It is in these moments that competitive gaps emerge. Just like our AI strategy, our globalization strategy is unwavering. Whether we are heading into rough waters or calm seas, we believe the opportunities of globalization far outweigh its risks. We will move forward with conviction and without hesitation. Guided by our Globalization Strategy 2.0, our objectives for 2025 are clear and focused. First, we aim to maintain our leading market share and scale as the top cross-border brand. Despite external trade tensions, we are confident in our ability to sustain overall business volume. Second, even with our significant revenue base, we will continue to optimize both our global market structure and gross margin profile, striving to achieve a meaningful breakthrough in gross margin performance. Third, we plan to further expand our localized office footprint by adding 3 to 5 new offices in Southeast Asia, Europe, and South America, deepening our reach beyond the U.S. and strengthening our footprint across key international markets. In short: we will go deeper, broader, and stronger in Southeast Asia; seize emerging opportunities in Europe; and explore new frontiers across South America and Africa. At first glance, it may seem that we are stepping away from the old order, but in truth, we are unlocking a much larger and more dynamic new world. Fourth, we are pursuing a breakthrough in our proprietary traffic technology platforms. The success of AppLovin has offered valuable inspiration, and we look forward to seeing BlueX and our BlueTurbo AI Demand-Side Platform (DSP) evolve into key revenue engines for BlueFocus in the years ahead.

Third question: What is the overall operational health of BlueFocus, and what operational risks do we face?

While BlueFocus reported a loss in 2024, yet when we look beyond the surface and focus on the underlying fundamentals, four key insights emerge: First, our overall operating profit and cash flow remain fundamentally healthy. In 2024, revenue surpassed RMB 60 billion, bringing us within striking distance of our RMB 100 billion milestone. Second, our risk factors have markedly diminished. BlueFocus’s two primary historical risk points, goodwill impairment and bad debt exposure, have been largely resolved over the past two years and are now at historic lows. While we recognize that operational headwinds may still arise, legacy burdens no longer pose a major challenge. Third, our financial performance in the first quarter of 2025 shows promising momentum. After several years of margin compression, we saw our operating gross margin stabilize and begin to rebound, driven in part by a sharp increase in AI-driven revenue. Fourth, we are building toward a fundamentally different future. BlueFocus has entered what is arguably the most focused and strategically decisive period in its history. Our early momentum in AI is just the beginning, and I am confident that the underlying capabilities we have quietly cultivated are more powerful than they appear today. Given time, they will become the wings that elevate BlueFocus to new heights. The global stage is far broader than we often realize, and as long as we remain open to change and grounded in long-term thinking, opportunities will continue to unfold. In parallel, our metaverse business is poised for new breakthroughs in 2025. Anchored by AI and XR technologies, we are targeting the cultural and tourism industries, leveraging BlueFocus’s strengths in content, marketing, and global expansion to build a new business model, one that integrates ticketing revenue, merchandise sales, and IP licensing.

As the great wheel of history moves forward, driven by the collision of old and new, BlueFocus stands at a crossroads: Will we cling to the past, or embrace innovation? Will we harden into bureaucracy, or continue to evolve with vitality? The answer, and the agency, lies entirely in our hands. And today, we declare our path forward: we choose to take risks and explore the unknown; we choose self-reinvention and the reconstruction of the future through the lens of the AI paradigm; we choose to turn every corner of the world within our reach into a proving ground, and a global stage for our boldest ideas and brightest talent.

With unwavering will, steady steps, and fearless resolve—we march forward.

Xthings Set to Expand Home Assistant Support for Smarter Home Automation

FREMONT, Calif., April 28, 2025 /PRNewswire/ — Xthings, a global leader in IoT innovation, today unveiled an expanded integration with Home Assistant, the world’s leading open-source home automation platform, including its line of ULTRALOQ smart locks. This collaboration empowers DIY enthusiasts and smart home users with unmatched customization, privacy, and control. Xthings’ commitment to open ecosystems ensures its products seamlessly connect with Home Assistant, Apple Home, Google Home, Samsung SmartThings, and Alexa.

ULTRALOQ Z-Wave Locks: Unlocking Freedom and Flexibility

ULTRALOQ‘s U-Bolt Z-Wave series liberates users from proprietary ecosystems. Leveraging Z-Wave, these locks deliver ultra-low latency, robust privacy, and cloud-free integration with Home Assistant for a truly personalized experience. The first products included in this expanding partnership are:

  • U-Bolt Z-Wave (Black/Silver): Priced at $179.99, this lock provides reliable Z-Wave connectivity and local control for seamless Home Assistant integration. Available now at the official website and Amazon.
  • U-Bolt Pro Z-Wave: Priced at $219.99, this advanced model adds features like fingerprint recognition and enhanced durability. Available now at the official website and Amazon.

Key Features and Benefits

  • Advanced Automation: Sync ULTRALOQ Z-Wave locks with Home Assistant to trigger lights, HVAC, or cameras based on unique unlock patterns, or auto-arm alarms when doors are secured.
  • Granular Access Control: Create time-specific virtual keys (e.g., “3 PM–5 PM”) or revoke access instantly via Home Assistant’s intuitive dashboards. Sync lock activity with Google Calendar for streamlined staff scheduling.
  • Privacy-Centric Alerts: Receive encrypted notifications for abnormal lock activity, bypassing third-party apps.

“We’re thrilled to renew our partnership with Xthings and expand the certified ‘Works with Home Assistant’ ULTRALOQ products in the coming months,” said Miranda Bishop, Partnership Manager at The Open Home Foundation. “Xthings’ commitment to open protocols perfectly aligns with the mission of the Open Home Foundation to deliver privacy, choice, and sustainability in home automation.”

What’s Next: Next-Gen Locks and Developer Tools

ULTRALOQ is set to launch its advanced U-Bolt Z-Wave and Latch Series, designed for deeper Home Assistant compatibility. The Z-Wave 2.0 upgrade offers 40% faster response times and extended range for larger homes. An open-source SDK will allow developers to create tailored firmware for specialized use cases, such as Airbnb hosting workflows.

About ULTRALOQ

ULTRALOQ, a best-selling smart lock brand under Xthings, is dedicated to developing innovative and secure smart access solutions. With a focus on blending cutting-edge technology with convenience, ULTRALOQ’s products are designed to provide a secure and keyless entry experience for both homes and businesses, making smart security more accessible than ever. More information at ULTRALOQ.

 

Bybit Introduces API Access for On-Chain Earn and Flexible Savings

DUBAI, UAE, April 28, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, now offers API access for its On-Chain Earn and Flexible Savings products. Expansion to other Earn product types is currently in progress. Full technical specifications and integration instructions are available in the official API documentation.

This new integration gives institutional users and developers the ability to connect directly with Bybit’s infrastructure, enabling efficient, automated, and scalable management of their yield-generating strategies.

Bybit’s On-Chain Earn products allows users to earn rewards by participating in blockchain-based (or “on-chain”) financial opportunities such as staking and liquidity protocols. These products provide users with a DeFi-like experience by enabling interaction with smart contracts on public blockchains without the need for technical expertise. Staking in the crypto world often demands significant technical know-how and dedicated hardware, making it inaccessible for many. Bybit’s On-Chain Earn removes these barriers by handling the complexities behind the scenes — including gas fees, node operations, and reward distribution — so users can stake with ease and confidence.

An API, or Application Programming Interface, is a tool that allows different software systems to communicate. Bybit’s API allows developers and institutional users to programmatically access On-Chain Earn and Flexible Savings functions through their own platforms, enhancing customization and operational control.

“Bridging centralized access with decentralized opportunity is one of our core missions,” said Jerry Li, Head of Earn & Wealth Management at Bybit. “With API support for On-Chain Earn, we’re giving power users the infrastructure they need to build, manage, and fine-tune strategies with the speed and precision the market demands.”

The API offers structured access to key functions, including:

  • An overview of currently available On-Chain Earn products, with filters by token and product category (LST, non-LST, or Mint),
  • Detailed product data such as estimated APYs, staking terms, redemption timelines, minimum and maximum limits, exchange rates, and reward distribution mechanisms,
  • Historical and real-time tracking of staking and redemption,
  • Summaries of current positions and accrued rewards,
  • Programmatic access to eligible Earn products for subscription and redemption, tailored to each supported mechanism.

This release marks a key step in Bybit’s continued efforts to support advanced users with infrastructure that connects centralized tools to decentralized finance opportunities.

#Bybit / #TheCryptoArk  

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
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KOLON TISSUEGENE HIGHLIGHTS LONG-TERM SAFETY DATA AND POTENTIAL U.S. FDA PATHWAY FOR TG-C AT OARSI WORLD CONGRESS

  • THE WORLD’S MOST PRESTIGIOUS OSTEOARTHRITIS SOCIETY (OARSI) HELD FOR THE FIRST TIME IN KOREA  
  • LONG-TERM SAFETY DATA FROM OVER 1 5  YEARS SUPPORT THE SAFETY PROFILE OF TG-C, WITH PRELIMINARY SIGNS OF POTENTIAL EFFICACY BENEFITS

ROCKVILLE, Md., April 28, 2025 /PRNewswire/ — Kolon TissueGene participated in the 2025 Osteoarthritis Research Society International (OARSI) World Congress on Osteoarthritis, which took place in Songdo, South Korea, from April 24-27, 2025. This year marked the first time the globally prestigious osteoarthritis society hosted its annual congress in Korea. During the event, Kolon TissueGene presented new long-term data supporting the safety and efficacy of its investigational therapy, TG-C — the world’s first cell and gene therapy for osteoarthritis — while highlighting its potential for U.S. FDA approval.

On April 25, Kolon TissueGene delivered a presentation titled “TG-C, the First Potential DMOAD*1  Therapy: Intra-Articular Cell-Based Gene Therapy with Long-Term Safety and Insight into Delaying Total Knee Arthroplasty (TKA)”. The presentation focused on TG-C’s long-term safety profile and its potential to delay total knee arthroplasty (TKA), using long-term follow-up data (US LTS) as a basis.

The study included data from 33 subjects who participated in the U.S. Phase 2 trial and 110 subjects from the Phase 3 trial who completed two years of follow-up. The ongoing Phase 3 trial data were analyzed in a blinded manner, including both TG-C and placebo arms, allowing for an objective evaluation of the long-term safety and treatment effects.

Safety Results: No treatment-related tumor cases were reported in TG-C enrolled subjects during nearly 15 years of long-term clinical observation in the United States. Moreover, age-specific cancer incidence among TG-C subjects consistently showed lower rates compared to the general U.S. population, based on SEER (Surveillance, Epidemiology, and End Results) data from the U.S. National Cancer Institute — a compelling indicator of TG-C’s safety.

▶ Age-Specific Cancer Incidence: TG-C U.S. Long-Term Follow-Up (US LTS) vs. U.S. Average (SEER)
▶ Age-Specific Cancer Incidence: TG-C U.S. Long-Term Follow-Up (US LTS) vs. U.S. Average (SEER)

Efficacy Results: Kolon TissueGene also presented data comparing the rate and timing of knee replacement surgery among TG-C–treated subjects versus the broader osteoarthritis population*2 in the U.S. According to the Osteoarthritis Initiative (OAI), which includes 11 years of longitudinal data sponsored by the U.S. National Institutes of Health (NIH), 15.5% of 595 patients meeting TG-C–eligible criteria underwent TKA at a median of 5.1 years after osteoarthritis onset.

In contrast, only 7.0% of TG-C–treated subjects underwent TKA, with the median time to surgery extended to 5.7 years. These findings suggest that TG-C may either replace or significantly delay the need for surgical intervention — a hallmark of a disease-modifying osteoarthritis drug (DMOAD). The data supports TG-C’s potential to slow structural progression of osteoarthritis and offers a meaningful therapeutic alternative.

Executive Commentary: Dr. Moon Jong Noh, Co-CEO of Kolon TissueGene, stated, “We are honored to share meaningful TG-C data at the first-ever OARSI congress held in Korea. This opportunity reinforces our optimism for FDA approval and recognition of TG-C as the world’s first DMOAD therapy.” Co-CEO Seng Ho Jeon, who joined the company in March, added, “The scientific data presented strongly supports the safety and efficacy of TG-C. We are pursuing parallel strategies for both regulatory approval and commercialization to establish TG-C as a global blockbuster treatment.”

About OARSI: Headquartered in New Jersey, USA, the Osteoarthritis Research Society International (OARSI) is the world’s leading organization for scientists and healthcare professionals working in the field of osteoarthritis prevention and treatment. Each year, the society holds its global congress in major cities worldwide, drawing over 1,500 experts from more than 50 countries, including clinical researchers, orthopedic specialists, radiologists, and physical therapists.

About TG-C: TG-C is the world’s first cell and gene therapy developed for knee osteoarthritis and is classified as a first-in-class investigational drug. It is currently undergoing follow-up in a U.S. Phase 3 trial following completion of dosing. As of 2024, the osteoarthritis market in the seven major countries (U.S., France, Germany, Italy, Spain, U.K., and Japan) is estimated at KRW 3.8 trillion, with a projected compound annual growth rate of 5.3%, reaching KRW 5.5 trillion by 2031. The global market is expected to exceed KRW 12 trillion. Currently dominated by low-cost analgesics, the introduction of effective disease-modifying therapies like TG-C could significantly expand market potential. (Source: GlobalData, Osteoarthritis: Epidemiology Forecast to 2031, June 17, 2022)

(*1) Disease-Modifying Osteoarthritis Drug
(*2) Data from the Osteoarthritis Initiative (OAI), a large-scale, public, long-term follow-up study sponsored by the U.S. National Institutes of Health (NIH).

▶ Dr. David Hunter presenting on TG-C at the OARSI World Congress
▶ Dr. David Hunter presenting on TG-C at the OARSI World Congress