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Comfee Unveils Gusto AC with Style and Buzz in Malaysia

KUALA LUMPUR, Malaysia, Aug. 13, 2025 /PRNewswire/ — Comfee, Germany’s No.1 air conditioner brand, successfully launched its Gusto series in Malaysia this August. The launch was accompanied by a lively summer campaign, inviting young consumers to experience smart cooling through interactive events and social media engagements.

Comfee, a lifestyle-driven brand, targets the young generation with its sleek, intelligent air conditioning solutions. The “cooling smart with style” concept combines modern design and smart features to deliver comfort, convenience, and personal freedom. The slogan, “Comfee, How I Cool Smart” reflects the brand’s mission to offer not just functional cooling, but a stylish, enriching experience.

Smart Choice with Gusto
Smart Choice with Gusto

The launch of Comfee in Malaysia marked a key milestone in the brand’s expansion into Southeast Asia. To celebrate, the “Live Joyfully with Comfee” campaign was introduced. This campaign encouraged young consumers to embrace vibrant moments in life while showcasing their lifestyles with Comfee products. Collaborations with KOLs focused on moments of joy and freedom, generating a strong response from the younger generation across social platforms.

Comfee Gusto Won Celebrities' Recognition around Malaysia
Comfee Gusto Won Celebrities’ Recognition around Malaysia

The marketing campaign sparked significant interaction on social media. Influencers from different fields shared their experiences with Gusto air conditioners, highlighting the product’s smart, energy-efficient features and stylish design. User feedback has been overwhelmingly positive, with many praising the intelligent controls and sleek look of the Gusto series. These feedback have reflected that the Gusto series coordinates well with the lifestyle of young consumers and gains recognition in the highly competitive Southeast Asian market.

KLGadgetTV: Comfee Gusto: The AI Power Saving Cooling Partner

Following the launch event, Comfee will roll out special promotions across major e-commerce platforms to meet consumers’ cooling needs. Looking ahead, Comfee will continue to innovate, setting new standards for home comfort and offering consumers smarter, more efficient products. Comfee remains committed to bringing stylish, smart, and comfortable lifestyle solutions to young consumers across Southeast Asia and beyond.

Comfee Official Shops:

Shopee

 

Aippy Debuts on iOS as the First Mobile-Friendly Community for Effortless Creation with AI

SAN JOSE, Calif., Aug. 13, 2025 /PRNewswire/ — Aippy, the online community for zero-threshold interactive creations, recently launched its mobile edition, making it the world’s first AI coding space available on iOS. Based on this innovative effort on the mobile end, Aippy aims to empower content creators to build, share, and explore any creative project that was previously limited on the web.

Aippy is a vibrant space for everyone to build,share and explore interactive creations with AI
Aippy is a vibrant space for everyone to build,share and explore interactive creations with AI

Since its beta launch this June, Aippy has stayed focused on cultivating a vibrant community where non-technical users can build what interests them by describing their ideas and requirements via simple prompts. “You’re free to build your own websites or games without writing any code here. Plus, you can even speak to generate prompts directly in the Aippy app, making the entire user experience more immersive,” says Evan, founder of Aippy.

The voice-input feature, designed to simplify the creation process and lower the technical barrier, is just one of Aippy’s highlights. According to Evan, Aippy makes the actions of “sharing” and “exploring” more meaningful by introducing the “Remix” feature, which enables users to create new projects based on the originals and share their work seamlessly on social media.

“We’re trying to carve out a playground for everyone in Aippy, and that’s why we embrace every idea on a whim and are glad to see them come to life here.” Evan reaffirmed the significance of “community”, indicating that a series of fun and engaging vibe coding campaigns to boost the atmosphere of community on Aippy will launch soon.

Amid the growing popularity of emerging vibe coding tools, Evan believes Aippy is poised to stand out due to its creative content generation and aggregation. “Under the slogan ‘Build What You Feel’, we hope ‘Aippy’ is not just a tool or a community, it can also represent an attitude of creation without code, and even more profoundly, a trend of content production that sweeps the world.” He added.

About Aippy

Aippy is the community designed to foster a vibrant space where creators can effortlessly build, share, and explore interactive projects using natural language. Founded with a vision to boost inspiring and interactive experiences beyond traditional coding, Aippy makes the entire creation process smoother and more seamless by launching its iOS app, which enables users to speak to generate prompts.

Learn more at aippy.ai.

Hello Group to Report Second Quarter 2025 Results on September 9, 2025

BEIJING, Aug. 13, 2025 /PRNewswire/ — Hello Group Inc. (NASDAQ: MOMO) (the “Company”), a leading player in Asia’s online social networking space, today announced that it will release its unaudited financial results for the second quarter ended June 30, 2025 before U.S. markets open on Tuesday, September 9, 2025.

Hello Group’s management will host an earnings conference call on Tuesday, September 9, 2025, at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing / Hong Kong Time on the same day).

Preregistration Information

Participants can register for the conference call by navigating to  https://s1.c-conf.com/diamondpass/10049643-g8d65s.html. Upon registration, each participant will receive details for the conference call, including dial-in numbers, conference call passcode and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin.

A telephone replay of the call will be available after the conclusion of the conference call through September 16, 2025. The dial-in details for the replay are as follows:

U.S. / Canada:

1-855-883-1031

Hong Kong:

800-930-639

Passcode:

10049643

Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of Hello Group’s website at https://ir.hellogroup.com.

About Hello Group Inc.

We are a leading player in Asia’s online social networking space. Through Momo, Tantan and other properties within our product portfolio, we enable users to discover new relationships, expand their social connections and build meaningful interactions. Momo is a mobile application that connects people and facilitates social interactions based on location, interests and a variety of online recreational activities. Tantan, which was added into our family of applications through acquisition in May 2018, is a leading social and dating application. Tantan is designed to help its users find and establish romantic connections as well as meet interesting people. Starting from 2019, we have incubated a number of other new apps, such as Hertz, Soulchill, Duidui, which target more niche markets and more selective demographics.

For investor and media inquiries, please contact:

Hello Group Inc.

Investor Relations
Phone: +86-10-5731-0538
Email: ir@hellogroup.com 

Christensen

In China
Ms. Xiaoyan Su
Phone: +86-10-5900-1548
E-mail: Xiaoyan.Su@christensencomms.com 

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com

Genius Mind Reinvents Private Tuition in Singapore with People-First Approach to 1-to-1 Home Tuition with Singapore Home Tutors

A trusted name by over 20,000 families, Genius Mind is redefining Singapore’s private tuition scene by focusing on personalized matches and flexible, client-first services.

SINGAPORE, Aug. 13, 2025 /PRNewswire/ — In a city where private tuition is an integral part of the educational experience, Genius Mind Home Tuition is redefining the landscape of private tuition in Singapore by putting people first. With their relaunch, Genius Mind has rapidly become one of Singapore’s most trusted and fastest-growing agencies for personalized 1-to-1 home tuition in Singapore, connecting over 20,000 students with the right tutors while offering a flexible, no-strings-attached model that prioritizes the needs of both parents and students.

With a strong emphasis on flexibility and personalized service, Genius Mind Home Tuition stands out in the Singapore home tutors industry by offering a unique, no-strings-attached model. With no long-term contracts or hidden fees, parents only pay for the lessons that are conducted. If the tutor isn’t the right fit for their child after the first session, parents have the flexibility to explore other options with no obligation, no commitment required. The agency’s unique listing-based system, where assignments are posted on Telegram and tutors apply directly, ensures fast, personalized matches. With a transparent pricing model based on the client’s stated budget and an extensive network of over 10,000 vetted tutors, Genius Mind Home Tuition makes quality, 1-to-1 home tuition in Singapore accessible without inflated costs or unnecessary markups.

Founded by Gary Ong, who brings 12 years of experience to the business, Genius Mind Home Tuition provides an innovative approach to private tuition in Singapore by eliminating hidden fees and long-term contracts. Parents may connect with a tutor within 1.5 to 2 hours, and lessons can begin immediately, tailored to fit the child’s schedule. Genius Mind Home Tuition is also committed to helping children with learning difficulties, ensuring that each student receives the support they need to thrive.

A 1-to-1 Home Tuition Platform Built Around Flexibility, Transparency, and Real Connections

As the demand for personalized tuition in Singapore grows, more parents are recognizing the immense value of 1-to-1 lessons over group classes. “The goal is to make real learning happen,” says Gary Ong, Founder of Genius Mind Home Tuition. “We care about making good matches because a great fit is essential for success, including children who require special care. Every child is unique, and we ensure that each student receives the personalized attention they need to thrive”.

Genius Mind’s extensive network of over 10,000 active tutors is continuously vetted and monitored for quality. The agency tracks tutor performance through daily feedback and removes tutors who underperform or fail to meet client expectations. Tutors can work for multiple agencies, but Genius Mind Home Tuition holds them accountable through a strict code of conduct.

Each assignment, whether it’s for primary school math in Jurong or adult language lessons in Mandarin, is posted on a Telegram channel, attracting multiple applicants per listing. This streamlined, listing-based system allows Genius Mind Home Tuition to ensure that each match is based on qualifications, experience, and school background, providing both tutors and families with the flexibility they need.

Affordable and Transparent Pricing for Parents with Tech-Enabled Matching Algorithms

Genius Mind Home Tuition prides itself on transparent pricing. Clients are matched with tutors based on their stated budget, and there are no hidden fees or inflated costs. “Our pricing is exactly the same as it was 10 years ago, and we’ve always kept it affordable,” says Ong. “We don’t believe in inflating budgets or overcharging families.”

Private tutoring is becoming increasingly popular as a side hustle, especially among top university students who seek extra income and flexibility. Many tutors at Genius Mind Home Tuition started as part-time tutors, and some eventually transitioned into full-time tutoring careers. As a result, the agency’s talent pool remains fresh, with tutors eager to share their expertise and grow in the field of private tuition in Singapore.

More parents are recognizing the value of personalized tuition over group classes. For many students, one-on-one attention boosts both academic performance and self-confidence. Genius Mind’s method ensures that every student receives focused, individualized learning based on their unique needs.

With a growing client base fueled by word-of-mouth referrals, Genius Mind Home Tuition is focused on expanding its reach to support even more families across Singapore. Recognizing the competitive nature of the industry, Genius Mind Home Tuition remains committed to providing personalized, client-centered tuition that truly makes a difference in students’ lives. Beyond just academic support, the agency strives to build lasting relationships, helping students gain confidence and succeed on their unique learning journeys.

About Genius Mind

Genius Mind Home Tuition is a Singapore-based platform offering personalised home tuition for students and adults, from preschool to JC and beyond. Relaunched in 2025, the agency has helped over 20,000 clients find the right fit through its unique listing-based system and extensive pool of Singapore home tutors. With a strong emphasis on tutor quality, flexible arrangements, and client-first service, Genius Mind Home Tuition has become a trusted name in the home and private tuition industry in Singapore.

For more information, please visit: https://singaporehometutors.com/

Farmmi USA Inc. Signs Lease for A New Warehouse in New Jersey

LISHUI, China, Aug. 13, 2025 /PRNewswire/ — Farmmi, Inc. (“Farmmi” or the “Company”) (Nasdaq: FAMI) today announced that its U.S. subsidiary, Farmmi USA Inc., has signed a lease agreement for a new warehouse located at 3 Montgomery Way, Robbinsville, New Jersey. The new warehouse spans approximately 183,000 square feet and will bring Farmmi USA Inc.’s total warehousing footprint in the U.S. to 640,000 square feet. The Company expects to take delivery of the leased premises by the later of September 1, 2025 or the date of receiving a certificate of occupancy.

This strategic expansion represents an important step in Farmmi’s continued efforts to strengthen its logistics and distribution capabilities in the U.S. market. The new Robbinsville facility will support growing customer demand, facilitate the improvement of supply chain efficiency, and further enhance delivery speed and cost controls, helping to seamlessly integrate warehousing and logistics operations across both the East and West Coasts.

Ms. Yefang Zhang, Chairwoman and CEO of Farmmi, commented:
“Our continued investment in logistics infrastructure across the U.S. reflects our deep commitment to meeting the evolving needs of our customers. With the addition of this large-scale facility in Robbinsville, Farmmi USA Inc. will be equipped with even greater responsiveness and service capabilities, allowing us to better support growing demand. This expansion also aligns with our long-term strategy to strengthen our international presence and further enhance Farmmi’s global competitiveness.”

About Farmmi, Inc.
Founded in 1998, Farmmi, Inc. (Nasdaq: FAMI) is a China-based agricultural products supplier, specializing in the processing, marketing, wholesale and retail of edible fungi (including shiitake and wood ear mushrooms) and other agricultural products. The company serves global markets with quality products through its own distribution network. In 2024, the company started warehouse and logistics services in the U.S. to provide cargo transfer and bonded warehouses services. For more information, please visit Farmmi’s official website at https://www.farmmi.com.

Forward-Looking Statements
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities. Any such offer may only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws.

Certain statements in this press release regarding the Company’s future growth prospects are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those described in the statements. These risks and uncertainties include, but are not limited to: our ability to secure financings on acceptable terms; fulfillment of customer orders; fluctuations in earnings; fluctuations in foreign exchange rates; our ability to manage growth; our ability to realize revenue from our expanded operations and acquisitions in China; our ability to attract and retain qualified professionals; customer concentration; concentration in certain market segments; regulatory and geopolitical risks, risks related to trade barriers, and other risks affecting our industry and general economic conditions.

Additional information regarding risks that may affect the Company’s future operating results is included in filings with the U.S. Securities and Exchange Commission (SEC), which can be viewed at www.sec.gov. Farmmi may make additional written or oral forward-looking statements from time to time, including those contained in the Company’s filings with the SEC and in shareholder reports. Please note that any forward-looking statements herein are made as of the date of this press release, and unless required by law, the Company undertakes no obligation to update or revise them.

For more information, please contact:

Farmmi, Inc.
Investor Relations
Tel: +86-0578-82612876
ir@farmmi.com 

KuCoin Futures Global Tour Kicks Off in Brazil, Bringing Trust and Innovation to the World

RIO DE JANEIRO, Aug. 13, 2025 /PRNewswire/ — KuCoin, a leading global cryptocurrency trading platform, is proud to announce that KuCoin Futures has launched its Global Tour, kicking off with a prominent participation in Brazil’s flagship blockchain event, Blockchain.RIO, held from August 6 to 7, 2025. The event brought KuCoin Futures’ brand strength, trust values, and global community presence to the heart of Rio, drawing hundreds of Web3 industry leaders, well-known influencers, and local users to discuss market trends, technological advancements, and future opportunities.


Matt Refael, Lead of KuCoin Futures’ Brazil operations, stated at the event:

“The crypto world doesn’t only exist on screens or exchanges — it must also be experienced and trusted in the real world. Face-to-face interaction with our users is at the core of how we build trust and a sense of community.”

This appearance was more than just a regional engagement — it marked the official launch of the KuCoin Futures Global Tour. As one of the world’s leading cryptocurrency futures trading platforms, KuCoin Futures remains committed to the mission “To make crypto  accessible to everyone”, dedicated to innovation, security, and trust to users worldwide. Through offline events, KuCoin Futures breaks the barrier between online and offline, fostering transparent communication with users by sharing product capabilities and services up close, exchanging insights, and aligning subsequent actions with shared understanding.

Trust has always been a core value of KuCoin Futures. From security compliance to liquidity depth and user experience, the platform consistently leads the industry. Covering areas from security compliance to liquidity depth and user experience, the platform was ranked 4th globally in CoinGlass’s latest derivatives exchange list. Direct, in-person engagements allow the platform to share operational insights with users and foster deeper mutual understanding.

This Global Tour also forms a key part of KuCoin’s 8th anniversary celebration aligned with the mission to make crypto accessible to everyone and to build trust through deeper connections. Over the past eight years, KuCoin has driven innovation and lowered barriers, enabling more people to access the crypto world in a secure manner. Looking ahead, KuCoin Futures will carry this vision to more cities and communities — not just through digital connections, but through real-world engagement that brings warmth and value to its global user base.

Following Brazil, the KuCoin Futures Global Tour will continue on to Southeast Asia, Europe, and the Middle East, meeting users face-to-face and sharing the innovation, security, and trust of crypto industry at closer range, embracing together the opportunities of this new era.

About KuCoin Futures

Launched in 2019, KuCoin Futures is the derivatives arm of KuCoin, offering a wide range of perpetual and quarterly contracts across major cryptocurrencies. Built for both retail and institutional users, KuCoin Futures delivers a powerful, intuitive, and secure trading experience backed by robust liquidity and advanced risk management systems. The platform supports cross-margin and isolated-margin modes, customizable leverage, and a comprehensive API, making it one of the most user-friendly and scalable derivatives platforms in the industry.

To learn more, visit https://www.kucoin.com/futures

China Automotive Systems Reports Income From Operations Increased by 20.2% in the Second Quarter of 2025

WUHAN, China, Aug. 13, 2025 /PRNewswire/ — China Automotive Systems, Inc. (NASDAQ: CAAS) (“CAAS” or the “Company”), a leading power steering components and systems supplier in China, today announced its unaudited financial results for the second quarter and six months ended June 30, 2025.

Second Quarter 2025 Highlights

  • Net sales rose 11.1% year-over-year to $176.2 million from $158.6 million in the second quarter of 2024.
  • Sales in Brazil grew 49.4% year-over-year, representing 10.1% of total net sales.
  • Gross profit increased by 4.2% year-over-year to $30.5 million from $29.3 million in the second quarter of 2024; gross profit margin was 17.3% in the second quarter of 2025.
  • Income from operations increased by 20.2% year-over-year to $13.0 million, from income from operations of $10.8 million in the second quarter of 2024.
  • Net income attributable to parent company’s common shareholders increased 6.8% to $7.6 million from $7.1 million, in the second quarter of 2024.
  • Diluted earnings per share attributable to parent company’s common shareholders was $0.25 compared with $0.24 in the second quarter of 2024.

First Six Months of 2025 Highlights

  • Net sales grew by 15.2% year-over-year to $343.3 million, compared to $298.0 million in the first six months of 2024.
  • Gross profit increased by 10.8% year-over-year to $59.1 million, compared to $53.4 million in the first six months of 2024; gross profit margin was 17.2% in the first six months of 2025.
  • Income from operations rose by 5.7% year-over-year to $21.6 million compared to income from operations of $20.5 million in the first six months of 2024.
  • Net income attributable to parent company’s common shareholders decreased to $14.7 million from $15.4 million in the first six months of 2024.
  • Diluted earnings per share attributable to parent company’s common shareholders was $0.49 compared with $0.51 in the first six months of 2024.
  • Cash, cash equivalents and short-term investments were $135.3 million, or approximately $4.48 per share, as of June 30, 2025.

Mr. Qizhou Wu, Chief Executive Officer of CAAS, commented, “We continued to grow our sales, gross profit, net profit and cashflow in the second quarter of 2025.  Sales of our traditional steering products remained steady while sales of our Electric Power Steering (“EPS”) products grew by 31.1% year over year in the second quarter of 2025. EPS sales have continuously increased and now represent 41.4% percent of our product sales in the second quarter of 2025.”

“We continue to transition to more technology-focused advanced steering products.  In the second quarter of 2025, based on our iRCB’s (intelligent electro-hydraulic circulating ball power steering) performance and cost-efficiency, new orders in July were at a record setting pace in the power steering industry for the ramp up to mass production. Our second-generation iRCB is compatible with L2+assisted driving.  By optimizing energy consumption, iRCB products are projected to reduce vehicle operational costs creating substantial economic value.”

“The high quality and high performance of our steering products have allowed us to become the tier-1 supplier to large global OEM customers in North America, Europe, Asia and South America. International sales have become our growth engine as we continue to expand our customer base and enhance our sales and profits. In the second quarter of 2025, we won our first R-EPS product order from a large, well-known European automaker. This order, with annual sales expected to exceed US$100 million, will start mass production by 2027 and power multiple new models. Our North and South American sales also grew in the second quarter of 2025, and we expect to enhance our organizational structure to capture more future international market opportunities.”

Mr. Jie Li, Chief Financial Officer of CAAS, commented, “Maintaining a strong balance sheet and financial resources are among our highest priorities. Cash, cash equivalents and short-term investments were $135.3 million, working capital was $170.9 million, with net cash provided by operating activities of $49.1 million in the first six months of 2025.  Our capital expenditures were $18.5 million in the first half of 2025 as we continue to invest in our future.”

Second Quarter of 2025

Net sales increased by 11.1% year-over-year to $176.2 million, compared to $158.6 million in the second quarter of 2024.  Net sales of traditional steering products and parts increased slightly year-over-year to $103.3 million in the second quarter of 2025.  Net sales of EPS products rose 31.1% year-over-year to $72.9 million from $55.6 million for the same period in 2024.  EPS product sales grew to 41.4% of the total net sales for the second quarter of 2025, compared to 35.1% for the same period in 2024.  Our subsidiary, Jiulong’s sales of commercial vehicle steering systems rose by 25.6% to $23.5 million, compared with $18.7 million for the second quarter of 2024. Sales to North American customers increased by 11.8% to $30.0 million, compared to $26.8 million in the second quarter of 2024.  North American sales increased primarily due to improved demand by one customer. Sales in Brazil were 49.4% higher in the second quarter of 2025 to $17.9 million from $12.0 million in the second quarter of 2024.

Gross profit grew by 4.2% year-over-year to $30.5 million from $29.3 million in the second quarter of 2024. Gross profit margin decreased to 17.3% in the second quarter of 2025 from 18.5% in the second quarter of 2024. The decrease in gross profit margin was mainly due to an increase in tariffs and the product mix change from increased sales portion of relatively lower-margin products.

Gain on other sales was $0.5 million in the second quarter of 2025, compared to $1.7 million in the second quarter of 2024.

Selling expenses at $4.5 million in the second quarter of 2025 were consistent with the second quarter of 2024.  Selling expenses represented 2.6% of net sales in the second quarter of 2025, compared to 2.9% in the second quarter of 2024.

General and administrative expenses (“G&A expenses”) decreased to $5.4 million, compared to $7.4 million in the second quarter of 2024, primarily due to decreased business taxes and surcharges. G&A expenses represented 3.1% of net sales in the second quarter of 2025, compared to 4.7% of net sales in the second quarter of 2024.  

Research and development expenses (“R&D expenses”) were stable at $8.1 million in the second quarter of each year.  R&D expenses represented 4.6% of net sales in the second quarter of 2025, compared to 5.2% in the second quarter of 2024.  Research and development programs include but are not limited to electric power and hydraulic steering systems, automotive intelligence and software technologies, automobile electronics, high polymer materials, and manufacturing technologies.

Other income was $1.1 million for the second quarter of 2025, compared to $1.7 million for the three months ended June 30, 2024. 

Income from operations rose 20.2% to $13.0 million in the second quarter of 2025, from $10.8 million in the second quarter of 2024. The increase was primarily due to higher sales.  

Interest expense was $0.3 million in the second quarter of 2025, compared to $0.2 million in the second quarter of 2024.

Net financial income was $1.3 million in the second quarter of 2025, compared to net financial expense of $0.7 million in the second quarter of 2024.  The increase in net financial income was primarily due to an increase in the foreign exchange gain due to the foreign exchange volatility. 

Income before income tax expenses and equity in earnings of affiliated companies was $15.1 million in the second quarter of 2025, compared to income before income tax expenses and equity in earnings of affiliated companies of $11.7 million in the second quarter of 2024. The change in income before income tax expenses and equity in earnings of affiliated companies was mainly due to higher income from operations in the second quarter of 2025 compared with income in last year’s same quarter.

Income tax expense was $4.0 million in the second quarter of 2025, compared to $2.1 million for the second quarter of 2024.  The increase in income tax expense was primarily due to a higher income before income tax expenses and a higher expected annual effective tax rate in 2025 based on the latest annual forecast as compared to 2024.

Net income attributable to parent company’s common shareholders was $7.6 million in the second quarter of 2025, compared to net income attributable to parent company’s common shareholders of $7.1 million in the second quarter of 2024.  Diluted earnings per share was $0.25 in the second quarter of 2025, compared to $0.24 per share in the second quarter of 2024.

The weighted average number of diluted common shares outstanding was 30,170,702 in the second quarter of 2025, compared to 30,185,702 in the second quarter of 2024.

First Six Months of 2025

Net sales increased by 15.2% year-over-year to $343.3 million in the first six months of 2025, compared to $298.0 million in the first six months of 2024 primarily due to increased sales of EPS systems. Six-month gross profit increased by 10.8% year-over-year to $59.1 million from $53.4 million in the corresponding period last year.  Six-month gross profit margin was 17.2% compared with 17.9% in the first six months of 2024.  Gain on other sales was $1.6 million in the first six months of 2025, compared to $2.2 million in the corresponding period last year.  Income from operations increased by 5.7% year-over-year to $21.6 million in the first six months of 2025 from $20.5 million in the first six months of 2024. 

Net income attributable to parent company’s common shareholders was $14.7 million in the first six months of 2025, compared to net income attributable to parent company’s common shareholders of $15.4 million in the corresponding period in 2024.  Diluted earnings per share in the first six months of 2025 were $0.49, compared to diluted earnings per share of $0.51 in the first six months of 2024.

Balance Sheet

Cash, cash equivalents and short-term investments were $135.3 million, or approximately $4.48 per share, as of June 30, 2025. Net working capital was $170.9 million. Total accounts receivable including notes receivable were $294.2 million, accounts payable including notes payable were $269.6 million and short-term loans were $71.9 million. Total parent company stockholders’ equity was $366.4 million as of June 30, 2025, compared to $349.6 million as of December 31, 2024.

Business Outlook

Management has raised revenue guidance for the full fiscal year 2025 to $720.0 million. This target is based on the Company’s current views on operating and market conditions, which are subject to change.

Conference Call

Management will conduct a conference call on August 13th, 2025 at 8:00 A.M. EDT/8:00 P.M. Beijing Time to discuss these results.  A question and answer session will follow management’s presentation.  To participate, please call the following numbers 10 minutes before the call start time and ask to be connected to the “China Automotive Systems” conference call with pin 489385:

Toll Free: 888-506-0062

International: 973-528-0011

China Toll Free: 86 400 120 3199

A replay of the call will be available on the Company’s website in the investor relations section.

About China Automotive Systems, Inc.

Based in Hubei Province, the People’s Republic of China, China Automotive Systems, Inc. is a leading supplier of power steering components and systems to the Chinese automotive industry, operating through its sixteen Sino-foreign joint ventures and wholly owned subsidiaries. The Company offers a full range of steering system parts for passenger automobiles and commercial vehicles. The Company currently offers four separate series of power steering with an annual production capacity of over 8 million sets of steering gears, columns and steering hoses. Its customer base is comprised of leading auto manufacturers, such as China FAW Group, Corp., Dongfeng Auto Group Co., Ltd., BYD Auto Company Limited, Beiqi Foton Motor Co., Ltd. and Chery Automobile Co., Ltd. in China, and Stellantis N.V. and Ford Motor Company in North America. For more information, please visit: http://www.caasauto.com

Forward-Looking Statements

This press release contains statements that are “forward-looking statements” as defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our estimates and assumptions only as of the date of this press release. Our actual results may differ materially from the results described in or anticipated by our forward-looking statements due to certain risks and uncertainties. As a result, the Company’s actual results could differ materially from those contained in these forward-looking statements due to a number of factors, including those described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission on March 28, 2025, and in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. Any of these factors and other factors beyond our control, could have an adverse effect on the overall business environment, cause uncertainties in the regions where we conduct business, cause our business to suffer in ways that we cannot predict, and materially and adversely impact our business, financial condition and results of operations. A prolonged disruption or any further unforeseen delay in our operations of the manufacturing, delivery and assembly process within any of our production facilities could result in delays in the shipment of products to our customers, increase costs and reduce revenue. We expressly disclaim any duty to provide updates to any forward-looking statements made in this press release, whether as a result of new information, future events or otherwise.

For further information, please contact:

Jie Li
Chief Financial Officer
China Automotive Systems, Inc.
jieli@chl.com.cn

Kevin Theiss
Awaken Advisors
+1-212-510-8922
Kevin@awakenlab.com 

 

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China Automotive Systems, Inc. and Subsidiaries

Condensed Unaudited Consolidated Statements of Operations and Comprehensive Income

(In thousands of USD, except share and per share amounts)

Three Months Ended June 30, 

2025

2024

Net product sales ($8,522 and $13,550 sold to related parties for the three months ended June
   30, 2025 and 2024)

$

176,245

$

158,608

Cost of products sold ($7,771 and $7,689 purchased from related parties for the three months
   ended June 30, 2025 and 2024)

145,698

129,306

Gross profit

30,547

29,302

Gain on other sales

455

1,720

Less: Operating expenses

Selling expenses

4,514

4,614

General and administrative expenses

5,412

7,418

Research and development expenses

8,092

8,184

Total operating expenses

18,018

20,216

Income from operations

12,984

10,806

Other income, net

1,060

1,735

Interest expense

(292)

(183)

Financial income/(expense), net

1,327

(690)

Income before income tax expenses and equity in earnings of affiliated companies

15,079

11,668

Less: Income taxes

4,049

2,108

Add: Equity in losses of affiliated companies

(658)

(805)

Net income

10,372

8,755

Less: Net income attributable to non-controlling interests

2,747

1,608

Accretion to redemption value of redeemable non-controlling interests

(7)

Net income attributable to parent company’s common shareholders

$

7,625

$

7,140

Comprehensive income:

Net income

$

10,372

$

8,755

Other comprehensive income:

Foreign currency translation gain/(loss), net of tax

1,342

(2,846)

Comprehensive income

11,714

5,909

Less: Comprehensive income attributable to non-controlling interests

2,887

1,431

Accretion to redemption value of redeemable non-controlling interests

(7)

Comprehensive income attributable to parent company

$

8,827

$

4,471

Net income attributable to parent company’s common shareholders per share –

Basic

$

0.25

$

0.24

Diluted

$

0.25

$

0.24

Weighted average number of common shares outstanding –

Basic

30,170,702

30,185,702

Diluted

30,170,702

30,185,702

 

 

 

China Automotive Systems, Inc. and Subsidiaries

Condensed Unaudited Consolidated Statements of Operations and Comprehensive Income

(In thousands of USD, except share and per share amounts)

Six Months Ended June 30, 

2025

2024

Net product sales ($20,015 and $24,910 sold to related parties for the six months ended June 30,
   2025 and 2024)

$

343,339

$

298,002

Cost of products sold ($15,546 and $14,657 purchased from related parties for the six months
   ended June 30, 2025 and 2024)

284,207

244,631

Gross profit

59,132

53,371

Gain on other sales

1,606

2,234

Less: Operating expenses

Selling expenses

9,332

8,687

General and administrative expenses

12,977

12,965

Research and development expenses

16,805

13,496

Total operating expenses

39,114

35,148

Income from operations

21,624

20,457

Other income, net

3,001

4,138

Interest expense

(775)

(441)

Financial income/(expense), net

3,305

(702)

Income before income tax expenses and equity in earnings of affiliated companies

27,155

23,452

Less: Income taxes

6,986

3,851

Add: Equity in losses of affiliated companies

(1,342)

(1,582)

Net income

18,827

18,019

Less: Net income attributable to non-controlling interests

4,080

2,597

Accretion to redemption value of redeemable non-controlling interests

(15)

Net income attributable to parent company’s common shareholders

$

14,747

$

15,407

Comprehensive income:

Net income

$

18,827

$

18,019

Other comprehensive income:

Foreign currency translation gain/(loss), net of tax

2,262

(3,194)

Comprehensive income

21,089

14,825

Less: Comprehensive income attributable to non-controlling interests

4,283

2,372

Accretion to redemption value of redeemable non-controlling interests

(15)

Comprehensive income attributable to parent company

$

16,806

$

12,438

Net income attributable to parent company’s common shareholders per share –

Basic

$

0.49

$

0.51

Diluted

$

0.49

$

0.51

Weighted average number of common shares outstanding –

Basic

30,170,702

30,185,702

Diluted

30,170,702

30,185,702

 

 

 

China Automotive Systems, Inc. and Subsidiaries

Condensed Unaudited Consolidated Balance Sheets
(In thousands of USD unless otherwise indicated)

June 30, 2025

December 31, 2024

ASSETS

Current assets:

Cash and cash equivalents

$

102,194

$

56,961

Pledged cash

36,774

44,863

Accounts and notes receivable, net – unrelated parties

279,144

329,275

Accounts and notes receivable, net – related parties

15,064

14,224

Inventories

116,518

112,558

Other current assets

50,271

44,757

Total current assets

599,965

602,638

Non-current assets:

Property, plant and equipment, net

114,705

103,820

Land use rights, net

9,235

8,835

Long-term investments

61,876

64,332

Other non-current assets

57,935

70,954

Total assets

$

843,716

$

850,579

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Short-term loans

$

71,946

$

72,566

Accounts and notes payable-unrelated parties

257,418

281,065

Accounts and notes payable-related parties

12,186

11,743

Accrued expenses and other payables

60,002

59,238

Other current liabilities

27,477

31,870

Total current liabilities

429,029

456,482

Long-term liabilities:

Other non-current liabilities

3,809

4,308

Total liabilities

$

432,838

$

460,790

Commitments and Contingencies

Stockholders’ equity:

Common stock, $0.0001 par value – Authorized – 80,000,000 shares; Issued – 32,338,302 and
   32,338,302 shares as of June 30, 2025 and December 31, 2024, respectively

$

3

$

3

Additional paid-in capital

69,656

69,656

Retained earnings-

Appropriated

13,668

12,180

Unappropriated

303,532

290,273

Accumulated other comprehensive income

(12,721)

(14,780)

Treasury stock –2,167,600 and 2,167,600 shares as of June 30, 2025 and December 31, 2024,
   respectively

(7,763)

(7,763)

Total parent company stockholders’ equity

366,375

349,569

Non-controlling interests

44,503

40,220

Total stockholders’ equity

410,878

389,789

Total liabilities and stockholders’ equity

$

843,716

$

850,579

 

 

 

China Automotive Systems, Inc. and Subsidiaries

Condensed Unaudited Consolidated Statements of Cash Flows

(In thousands of USD unless otherwise indicated)

Six months Ended June 30, 

2025

2024

Cash flows from operating activities:

Net income

$

18,827

$

18,019

Adjustments to reconcile net income from operations to net cash provided by operating activities:

Depreciation and amortization

8,267

9,868

(Reversal)/addition of credit losses

(159)

9

Equity in losses of affiliated companies

1,342

1,582

Impairment loss on property, plant and equipment

657

Loss on disposal of property, plant and equipment

580

773

(Increase)/decrease in:

Accounts and notes receivable

50,982

(20,451)

Inventories

(3,491)

4,271

Other current assets

(1,077)

3,654

Increase/(decrease) in:

Accounts and notes payable

(24,349)

1,994

Accrued expenses and other payables

2,238

1,134

Long-term taxes payable

(7,025)

Other current liabilities

(4,735)

(4,697)

Net cash provided by operating activities

49,082

9,131

Cash flows from investing activities:

Cash received from disposal of property, plant and equipment sales

522

607

Payments to acquire property, plant and equipment (including $2,193 and $2,839 paid to related
   parties for the six months ended June 30, 2025 and 2024, respectively)

(18,484)

(10,016)

Payments to acquire intangible assets

(67)

(332)

Investment under the equity method

(1,112)

Purchase of short-term investments

(23,096)

(40,054)

Proceeds from maturities of short-term investments

29,570

20,626

Cash received from long-term investments

2,368

937

Net cash used in investing activities

(10,299)

(28,232)

Cash flows from financing activities:

Proceeds from bank loans

52,829

47,054

Repayments of bank loans

(53,890)

(48,384)

Dividends paid to the common shareholders

(1,773)

Cash received from capital contributions of a non-controlling interest

15,504

Net cash (used in)/provided by financing activities

(2,834)

14,174

Effects of exchange rate on cash, cash equivalents and pledged cash

1,195

(1,882)

Net increase/(decrease) in cash, cash equivalents and pledged cash

37,144

(6,809)

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

101,824

155,194

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

$

138,968

$

148,385

 

 

Yuchai Foundry Begins Shipment of Key Casting Products to Germany

SINGAPORE, Aug. 13, 2025 /PRNewswire/ — China Yuchai International Limited (NYSE: CYD) (“China Yuchai” or the “Company”) one of the largest powertrain solution manufacturers through its main operating subsidiary in China, Guangxi Yuchai Machinery Company Limited (“Yuchai”), announced today that Yuchai’s subsidiary, Guangxi Yuchai Foundry Co., Ltd. (“Yuchai Foundry”), had in early August commenced the shipment of its first batch of a total order for 30,000 high-end cylinder head castings to a German customer. This shipment marks the international customer’s recognition of Yuchai Foundry’s product quality, as a rising supplier of high-end castings in the global supply chain.

To meet the stringent German technical standards, Yuchai Foundry innovatively utilized special alloys and vermicular iron thermal analysis technology. The production process was managed to ensure the castings’ precision, material quality, and performance.

Mr. Weng Ming Hoh, President of China Yuchai, commented, “Over the years, we have deepened our partnerships with leading industry players through technology innovations. Yuchai Foundry is making qualitative leaps through its independent capabilities to develop solutions.” 

About China Yuchai International

China Yuchai International Limited, through its subsidiary Guangxi Yuchai Machinery Company Limited (“Yuchai”), is one of the leading powertrain solution providers in China. Yuchai specializes in the design, manufacture, assembly, and sale of a wide variety of light-, medium- and heavy-duty engines for trucks, buses, pickups, construction and agricultural equipment, and marine and power generation applications. Yuchai offers a comprehensive portfolio of powertrain solutions, including but not limited to diesel, natural gas, and new energy products such as pure electric, range extenders, and hybrid and fuel cell systems.  Through its extensive network of regional sales offices and authorized customer service centers, Yuchai distributes its engines directly to auto OEMs and distributors while providing after-sales services across China and globally.  Founded in 1951, Yuchai has established a reputable brand name, built a strong research and development team, and achieved a significant market share in China. Known for its high-quality products and reliable after-sales support, Yuchai has also expanded its footprint into overseas markets.  In 2024, Yuchai sold 356,586 engines, further solidifying its position as a leading manufacturer and distributor of engines in China.  For more information, please visit http://www.cyilimited.com.

Safe Harbor Statement:

This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe”, “expect”, “anticipate”, “project”, “targets”, “optimistic”, “confident that”, “continue to”, “predict”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements, including, but not limited to, statements concerning China Yuchai’s and the joint venture’s operations, financial performance and condition, are based on current expectations, beliefs and assumptions which are subject to change at any time. China Yuchai cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors such as government and stock exchange regulations, competition, political, economic and social conditions around the world and in China, including those discussed in China Yuchai’s Form 20-Fs under the headings “Risk Factors”, “Results of Operations” and “Business Overview” and other reports filed with the Securities and Exchange Commission from time to time. All forward-looking statements are applicable only as of the date they are made and China Yuchai specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.

For more information:

Investor Relations
Kevin Theiss
Tel: +1-212-510-8922
Email: cyd@bluefocus.com