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LG PRESENTS NEW SPACE- AND ENERGY-EFFICIENT REFRIGERATOR LINEUP AT IFA 2025

Optimized for Modern Living, Company’s New Fit & Max Refrigerators Deliver Stylish, User-Centric Design and Smart Performance to European Kitchens

SEOUL, South Korea, Aug. 19, 2025 /PRNewswire/ — LG Electronics (LG) is unveiling its latest refrigerator lineup for the European market at IFA 2025. Designed to deliver top-tier energy efficiency, the new french door and bottom-freezer models have been developed specifically for Europe’s unique housing environments and consumer lifestyles, reflecting LG’s extensive research into local needs and preferences. The lineup combines energy-saving performance, smart features and space-efficient styling that integrates seamlessly into modern homes.

LG presents new space-and energy-efficient refrigerator lineup for the European market at IFA 2025.
LG presents new space-and energy-efficient refrigerator lineup for the European market at IFA 2025.

Outstanding Energy Efficiency

Responding to increased demand for energy-efficient appliances across Europe, LG is introducing models that meet – and significantly surpass – the European Union’s highest (“A”) energy rating. The new bottom-freezer model exceeds the requirement for the A rating, while the french door model has impressively earned an A rating, despite being in a category where such ratings are rare.

LG’s exceptional energy efficiency was made possible by its optimized insulation design tailored for the European market, as well as AI-based features that help reduce electricity consumption by learning household usage patterns and optimizing compressor operation during periods of low activity.

Fit & Max: Perfect Fit and Maximum Performance

Designed for Europe’s typically compact kitchens, the new lineup features LG’s Zero Clearance Hinge, enabling doors to open fully (up to 110 degrees) even when placed flush against a wall. Sleek exteriors with LG’s Premium Flat Door design create a refined, built-in look.

AI-powered features elevate convenience and efficiency to make every day easier and power bills more manageable. AI Fresh monitors your door-opening habits over three weeks and lowers the temperature in advance during peak times. This helps reduce sudden temperature changes when the door is opened, keeping food fresher for longer. AI Saving Mode analyzes use-behavior and intelligently adjusts cooling performance during low-usage periods, helping save energy.

Embodying LG’s MAX concept – maximizing space efficiency and food freshness – the lineup features a variety of storage solutions that enhance interior usability, including the Retractable Shelf for tall or bulky items, and generous interior capacity. Freshness technologies include Linear Cooling™ to minimize temperature fluctuations, Door Cooling+™ for fast, even cooling, and Fresh Converter+™ with customizable storage zones for meat, fish and vegetables.

New French Door Refrigerator Boasting Built-In Look, Practical Features

The new french door model presents LG’s first Thin Door design with both an ice and water dispenser, plus the installation flexibility of the Zero Clearance Hinge. The Ultra Slim In-Door Ice Maker saves storage space while delivering a steady supply of ice.

Interior enhancements include an optimized basket design that reduces the risk of bottles tipping over when opening or closing. Deeper shelves improve internal storage capacity, aligning with the needs of European lifestyles. Soft Closing Doors prevent slamming, ensuring smoother and quieter operation.

New Bottom-Freezer Designed for Flexibility

Designed to fit real European kitchen environments, the new bottom-freezer series offers a variety of sizes and capacities. Adjustable shelving and flexible compartments maximize usable space.

The Adjustable Shelf offers seven height settings, while the combination of Adjustable and Retractable Shelves allows for tailored organization. Additional accessories, such as the Movable Bucket, My Box and Mini Door Basket, can be repositioned for convenient access or to free up space for other items.

“LG’s new refrigerator lineup reflects a firm commitment to meaningful innovation, combining outstanding space and energy efficiency with designs that fit seamlessly into modern kitchens,” said Lyu Jae-cheol, president of the LG Home Appliance Solution Company. “We remain focused on developing user-centric technologies that enhance everyday convenience, simplify life at home, and have less impact on the planet.”

About LG Electronics Home Appliance Solution Company 

The LG Home Appliance Solution Company (HS) is a global leader in home appliances and AI home solutions. By leveraging industry-leading core technologies, the HS Company is committed to enhancing consumers’ quality of life and promoting sustainability. The company develops thoughtfully designed kitchen and living appliance solutions and has recently integrated LG’s Robot Business Division to incorporate advanced robot technologies into its home solutions. Together, these products offer enhanced convenience, exceptional performance, efficient operation and sustainable lifestyle solutions. For more news on LG, visit www.LGnewsroom.com.

LG’s new french door model presents the Fit & Max design, featuring the Zero Clearance Hinge and maximized space efficiency.
LG’s new french door model presents the Fit & Max design, featuring the Zero Clearance Hinge and maximized space efficiency.

LG introduces the new bottom-freezer with adjustable shelving and flexible compartments, designed to fit real European kitchen environments.
LG introduces the new bottom-freezer with adjustable shelving and flexible compartments, designed to fit real European kitchen environments.

LG introduces the new bottom-freezer with adjustable shelving and flexible compartments, designed to fit real European kitchen environments.
LG introduces the new bottom-freezer with adjustable shelving and flexible compartments, designed to fit real European kitchen environments.

RemeGen and Santen Enter into Exclusive Licensing Agreement for Ophthalmic Innovative Drug RC28-E in Greater China and Asian countries

YANTAI, China, Aug. 19, 2025 /PRNewswire/ — RemeGen Co., Ltd. (Stock Code: 688331.SH/09995.HK, “RemeGen”), a leading Chinese biopharmaceutical company, announced today that it has entered into an agreement with Santen Pharmaceutical (China) Co., Ltd. (“Santen China“), a wholly-owned subsidiary of Santen Pharmaceutical Co., Ltd. (“Santen”). Under the agreement, Santen China has obtained exclusive rights to develop, manufacture, and commercialize RC28-E in Greater China (including Mainland China, Hong Kong, Macau, and Taiwan) as well as in South Korea, Thailand, Vietnam, Singapore, the Philippines, Indonesia, and Malaysia. RemeGen will retain global exclusive rights to RC28-E outside these regions. RemeGen will receive upfront payment of RMB 250 million, development and regulatory milestone payments of up to RMB 520 million, and sales milestone payments of up to RMB 525 million. In addition, RemeGen will be entitled to tiered royalties based on net sales of the product in the licensed territories.

RC28-E is a VEGF/FGF dual-target fusion protein drug for ocular neovascular diseases, independently developed by RemeGen. On May 7, 2025, the Phase II clinical trial results of RC28-E for diabetic macular edema (DME) were presented as an oral report at the Association for Research in Vision and Ophthalmology (ARVO) 2025 Annual Meeting. The study demonstrated that RC28-E significantly improved best-corrected visual acuity (BCVA) and reduced central subfield thickness (CST), and was also well tolerated in patients with DME. In 2023, RemeGen initiated Phase III clinical trials for RC28-E in wet age-related macular degeneration (wAMD) and DME. RemeGen plans to submit a Biologics License Application (BLA) for the DME indication in China in the second half of 2025, followed by a BLA for wAMD in mid 2026.

Dr. Jianmin Fang, CEO of RemeGen, stated: “Santen brings over 130 years of expertise in ophthalmology and a robust global sales network spanning 60+ countries and regions. RC28-E, a Class 1 proprietary drug developed by RemeGen, is approaching the critical stage of BLA submission. We believe this collaboration will fully leverage the strengths of both parties to maximize the potential of RC28-E, providing innovative and effective solutions for retinal diseases. This partnership not only lays a solid foundation for the future commercialization of RC28-E but also reflects international recognition of RemeGen’s capabilities in ophthalmic drug development. We look forward to jointly advancing this breakthrough therapy with Santen to open a new chapter in eye care.”

Takeshi Ito, President & CEO of Santen, commented: “RemeGen has demonstrated outstanding capabilities and innovation in the field of novel drug development. As RemeGen’s flagship pipeline in ophthalmology, RC28-E offers differentiated advantages by simultaneously targeting angiogenesis and fibrosis, potentially providing a new therapeutic approach and innovative option for the treatment of fundus diseases. Looking ahead, Santen are committed to strengthening cooperation and collaboration with all partners, by global-to-local synergy, to help advancing the high-quality development in ophthalmology, uncovering and addressing unmet patient needs, and aiming to realize ‘Happiness with Vision ‘for all.”

About RemeGen:

RemeGen Co., Ltd. is a leading innovative biopharmaceutical company in China,headquartered in Yantai Economic & Technological Development Zone, China, with R&D centers and subsidiaries in Beijing, Shanghai, and California, USA. The company achieved dual listings on Main Board of The Stock Exchange of Hong Kong Limited (2020) and Shanghai Stock Exchange STAR Market (2022), becoming a dual-listed “A+H” company.

The company focuses on discovering, developing, manufacturing, and commercializing novel biologic drugs with independent intellectual property rights. Focusing on critical therapeutic areas including autoimmune diseases, oncology, and ophthalmology, the company has successfully developed multiple biologic drugs with significant clinical value.

In 2021, RemeGen’s first-in-class drugs – Telitacicept (for systemic lupus erythematosus, rheumatoid arthritis, and myasthenia gravis) and Disitamab Vedotin (for gastric cancer, urothelial carcinoma, and breast cancer) – were approved for marketing with a total of 6 approved indications across these two innovative therapies. The company has established a comprehensive commercialization system encompassing production and sales, successfully initiating commercial transformation in both domestic and international markets.

For more information, please visit RemeGen’s website https://remegen.com/

About Santen Pharmaceutical Co., Ltd.:

As a specialized company dedicated to eye health, Santen aspires to contribute to the realization of “Happiness with Vision” by providing products and services to patients, consumers, and medical professionals around the world. Since its establishment, and guided by its CORE PRINCIPLE, “Tenki ni sanyo suru,” Santen has been committed to helping people maintain and improve their eye health for more than 130 years. Santen is engaged in the global research and development, manufacturing, and sales and marketing of pharmaceutical products in the field of eye care, supporting the eye health of approximately 50 million people in more than 60 countries and regions worldwide. Santen’s mission is to provide essential and significant value to patients and society in the prevention, diagnosis, and treatment of eye diseases through products and services created from its expertise in the ophthalmology field and from the patient’s perspective. To create a future in which as many patients as possible can lead happy and fulfilling lives, Santen is committed to doing its utmost to realize a society in which people around the world can experience “Happiness with Vision.”

For more information, please visit Santen’s website https://www.santen.com/en

USI Launches EMVCo-Certified Intelligent Tablet POS, Integrating Sales and Payment Solutions

SHANGHAI, Aug. 19, 2025 /PRNewswire/ —  With the rapid advancement of technology, the retail market is undergoing unprecedented transformation. Consumers are demanding more convenient, efficient, and secure shopping experiences, prompting retailers to seek innovative solutions that enhance both service quality and operational efficiency. According to a market research firm GII Global Information report, the global smart retail market is projected to grow from $35.89 billion in 2023 to $352.53 billion by 2032, with a compound annual growth rate (CAGR) of 28.9%. This surge is driven by the increasing adoption of artificial intelligence (AI), the widespread use of digital payment methods, and a growing preference for seamless, personalized shopping experiences.

EMVCo-Certified Intelligent Tablet POS
EMVCo-Certified Intelligent Tablet POS

In response to these industry shifts, Universal Scientific Industrial (USI) has introduced its first intelligent tablet POS device integrated with EMVCo payment functionality. Designed to seamlessly combine POS ordering and sales functions with secure EMVCo-certified payments, this solution provides retailers with a flexible and future-ready investment while enhancing the consumer transaction experience.

Breaking away from traditional bulky POS systems, the new tablet POS features a sleek, lightweight design with multi-payment capabilities. Consumers can securely enter their PIN codes via the touchscreen, with transactions authenticated by leading international payment organizations. This innovation streamlines payment processes, integrates the Qualcomm Dragonwing™ QCS6125 processor, enhances mobility, and improves customer interactions. Its portable design enables retailers to deploy it across store sections, pickup service centers, and even outdoor pop-up sales locations. Additionally, real-time data analytics empower businesses to optimize sales management and drive precision marketing strategies.

“Qualcomm values its collaboration with USI in industrial and retail innovation at the edge, delivering integrated solutions for smart retail applications,” stated Atul Prasad,  Director, Product Management, Qualcomm Technologies, Inc.

“Castles Technology is committed to providing secure and reliable payment solutions that meet the latest international security and transaction certification standards,” said Justin Chen, Senior Product Director at Castles Technology. “With 30 years of expertise, we are confident that our collaboration with USI will allow retailers to seamlessly integrate payment services and expand their retail applications.”

Hawk Sun, Product Associate Director at USI’s POS Business Center, added: “This intelligent tablet POS device is part of USI’s OTS product portfolio, fully designed and manufactured by our in-house team. Last year, it was showcased at leading global trade shows—including NRF in the United States, EuroCIS in Europe, and RETAILTECH in Japan—where it received strong industry recognition and numerous customer requests for sample testing. The device has successfully obtained certifications from major international payment organizations, including PCI PTS, MasterCard, Discover, and American Express, with VISA certification currently under application. The solutions are expected to be rolled out to market progressively throughout the second half of 2025.

USI continues to drive innovation in the smart retail sector by leveraging its technology and product expertise. Through integrated, flexible sales and payment solutions, the company enables retailers to enhance transaction efficiency, optimize customer experience, and stay ahead of evolving market demands. As the retail landscape evolves, USI remains dedicated to delivering cutting-edge solutions that empower businesses to thrive in a digital-first world.

About USI (SSE: 601231)

USI, Universal Scientific Industrial (Shanghai) Co., Ltd., is a global leader in electronic design and manufacturing as well as a leader in the field of SiP (System-in-Package) technology. Our production and service locations span four continents: Asia, Europe, the Americas, and Africa, offering customer diversified electronic products with D(MS)2 services: Design, Manufacturing, Miniaturization, Industrial software, and hardware Solutions, as well as material procurement, logistics and maintenance Services. USI is a subsidiary of ASE Technology Holding Co., Ltd. (TWSE: 3711, NYSE: ASX). To learn more, please visit www.usiglobal.com and engage with us on LinkedIn and YouTube.

Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries.

Qualcomm and Qualcomm Dragonwing is a trademark or registered trademark of Qualcomm Incorporated.

True Global Ventures Granted Capital Markets Services Licence beyond Venture Capital Fund Management by MAS

SINGAPORE, Aug. 19, 2025 /PRNewswire/ — True Global Ventures 4 Plus Pte. Ltd. (“TGV”) is pleased to announce that it has been granted a Capital Markets Services (“CMS”) licence by the Monetary Authority of Singapore (“MAS”) to conduct regulated fund management activities under the Securities and Futures Act 2001 (SFA) beyond the management of venture capital funds.

The CMS licence authorises TGV now as a Licensed Fund Management Company (“LFMC”) for accredited investors, to manage regulated investment funds from Singapore, strengthening the firm’s position as a global venture capital leader and underscoring its commitment to robust governance, compliance, and investor protection.

Strategic Growth Pathways Under the Licence

With the CMS licence in place, TGV is able to broaden its fund management activities and introduce new investment strategies in addition to its existing venture capital funds mandate. These include potentially managing:

Continuation Funds – enabling TGV to extend its support for proven, high-performing portfolio companies by providing additional growth capital, while also giving investors a choice of continued participation at later stages pre-IPO companies. Such funds can both invest in the best portfolio companies in primary rounds as well as into secondaries without the constraints imposed by TGV’s previous Venture Capital Fund Management (“VCFM”) license.

Fund of Funds – diversifying investor portfolios by allocating to top-tier venture capital managers across regions and sectors, supported by TGV’s extensive global networks.

Public Companies Investments – selectively investing in listed companies that align with TGV’s core themes in artificial intelligence and blockchain, allowing investors to benefit across both private and public markets.

Crypto Funds – leveraging TGV’s strong track record in blockchain to offer professionally managed exposure to digital assets, underpinned by institutional-grade governance and risk management.

“We are honoured to receive the CMS licence from MAS, which reflects our commitment to meeting the highest regulatory compliance and governance standards,” said Beatrice Lion, CEO of TGV. “This milestone enables us to build on True Global Ventures’ strong track record and with immediate effect we will be able to invest more in secondaries in our existing portfolio without restrictions from our previous VCFM license.”

Dušan Stojanović, initiator of TGV, comments “With our expanded license, all of the above investment strategies are possibilities of our fund management activities. That said, we will still maintain our core focus on funds investing in equity with fund sizes between US$100 and 200 million where we have so far had exceptional returns being among the top 3% of venture capital funds globally in the same vintage.”

The CMS licence represents a significant step in TGV’s mission to back exceptional entrepreneurs and disruptive technologies worldwide, while operating with the highest level of fiduciary responsibility.

About True Global Ventures

TGV is a global venture capital firm founded by seasoned entrepreneurs and investors. The firm backs serial entrepreneurs in innovation-driven sectors, including artificial intelligence and blockchain technologies. With a strong track record of investing in venture companies, TGV primarily invests across Bay Area, New York, Singapore, Hong Kong, London, Paris, Stockholm and Dubai and leverages its global network to accelerate portfolio company growth and long-term investor value.

CookieYes Launches on Wix App Market, Delivering Simple, Scalable Privacy Compliance to Millions

MILTON KEYNES, England, Aug. 19, 2025 /PRNewswire/ — CookieYes, a global leader in consent management solutions trusted by over 2 million websites, announced the launch of its dedicated app on the Wix App Market.

CookieYes is now on the Wix App Market, helping millions of businesses stay compliant with privacy laws like GDPR and CPRA, with trusted certifications like Google CMP Gold Partner, IAPP Bronze Member, and IAB Europe-registered CMP backing it up
CookieYes is now on the Wix App Market, helping millions of businesses stay compliant with privacy laws like GDPR and CPRA, with trusted certifications like Google CMP Gold Partner, IAPP Bronze Member, and IAB Europe-registered CMP backing it up

This launch enables businesses of all sizes to manage website cookie consent with ease, meet global privacy laws, and strengthen user trust—without complex technical setups.

With GDPR and other privacy regulations spreading globally, businesses must give visitors clear data-collection choices. The CookieYes app, seamlessly integrated with Wix, lets you implement compliant, user-friendly consent experiences in minutes.

Enabling Wix-powered businesses with privacy-first solutions

The CookieYes app makes it easy for businesses to:

  • Display clear cookie banners that explain how visitor information may be used.
  • Pause tracking tools (like analytics or ads) until visitors choose to allow them.
  • Keep a secure record of visitor choices to meet legal requirements.
  • Stay up-to-date with privacy laws through automatic updates and compliance support.
  • Show region-specific banners based on where visitors are located (e.g., GDPR for Europe).
  • Offer cookie banners in multiple languages, automatically matching the visitor’s browser settings.
  • Customize the look and feel of banners easily to fit the business’s brand.

Ready to simplify your cookie consent on Wix? Install CookieYes on the Wix App Market now

“Privacy is a fundamental right, not an optional feature,” said Anvar T., CEO of CookieYes. “Our mission has always been to make privacy compliance simple, scalable, and accessible for every business. As a Google Certified Gold CMP Partner trusted by leading global brands, we are proud to extend our capabilities to the Wix community and support businesses in building stronger, trust-driven digital experiences.”

“We’re thrilled to welcome CookieYes to the Wix App Market,” said Omer Zilberman, Head of Business Development at Wix. “Their expertise in consent management empowers our users to deliver transparent, legally compliant sites without technical headaches.”

Now live globally on the Wix App Market, CookieYes is free to install, with premium features from USD 8.33/month, offering higher scan limits, detailed consent logs, custom branding, and more for growing businesses.

About CookieYes

CookieYes is a Google Certified Gold CMP Partner and consent management provider trusted by over 2 million websites—including Toyota, KFC, Domino’s, and Forbes—to deliver transparent, legally compliant digital experiences. CookieYes offers easy-to-use, scalable solutions that help businesses meet global privacy regulations and build stronger user trust.

Contact Info

Website: www.cookieyes.com
Email: partnerships@cookieyes.com
App listing: https://www.wix.com/app-market/web-solution/cookieyes-gdpr-cookie-banner/?utm_source=prc&utm_medium=cpc

 

Candid Mixers and PT Sukanda Djaya Announce Strategic Distribution Partnership

JAKARTA, Indonesia, Aug. 19, 2025 /PRNewswire/ — 

Scaling Indonesia’s First Premium Mixer Brand Nationwide

Just two days after Indonesia commemorates 80 years of independence, a bold wave of local innovation takes center stage in the beverage industry. Candid Mixers – the country’s first homegrown premium mixer brand – is proud to announce a nationwide distribution agreement with PT Sukanda Djaya (SKD), one of Indonesia’s most trusted food and beverage distributors.

Now pouring at Indonesia’s top bars - Candid Mixers, proudly made and delivered across the archipelago by SKD
Now pouring at Indonesia’s top bars – Candid Mixers, proudly made and delivered across the archipelago by SKD

This partnership marks a milestone moment: an Indonesian-made, bartender-led mixer brand going national with the full force of SKD’s logistics and retail expertise behind it.

“Candid Mixers brings an exciting new dimension to the beverage landscape in Indonesia. As the country’s first locally produced premium mixer brand, it reflects both innovation and quality – values we’re proud to support as we scale their reach nationwide.”   –  PT Sukanda Djaya

Under the agreement, SKD will distribute Candid’s signature 250 ml SKUs including Imperial Tonic, Club Soda, and Ginger Ale across hotels, bars, clubs, and premium retail channels. New flavours are also on the horizon.

Crafted in Indonesia. Designed for the World.

Created by local bartenders and proudly manufactured in Indonesia, Candid Mixers reflects a modern Indonesian spirit – ambitious, elevated, and ready to lead. Following a strong first half of 2025, the partnership arrives at a pivotal moment for the brand, fueled by increasing demand from hospitality venues seeking high-quality, wellness-aligned beverage options.

Candid has already earned attention nationwide for its bold flavour profiles, design-forward identity, and versatile, alcohol-free appeal – whether poured into a cocktail or sipped straight from the can.

And now, with the launch of Emma, Candid’s AI Bartender, venues and consumers alike can unlock even more creativity. Emma can instantly suggest recipes for signature cocktails, craft alcohol-free pairings, or generate batch-ready serves for events – bringing Candid’s premium mixers to life in new and innovative ways.

Key Distribution Highlights:

  • Direct fulfillment through SKD’s trusted nationwide network
  • Immediate availability expansion across hotels, bars, clubs, and modern grocers
     
  • Launch of trial packs, retail-ready displays, and co-branded marketing in Q3

This partnership is more than logistics – it is a signal of Indonesia’s growing place on the global beverage map, with Candid leading the way.

Website: candidmixers.com
Images & Video: Google Drive Folder

Meet Emma: Your AI Bartender

Candid’s new AI Bartender, Emma, can create drink ideas for any occasion – whether you need a refreshing mocktail for a spa day, a signature cocktail for your bar menu, or a batch serve for an event.

Try Emma now – see 3 mocktail and 2 cocktail recipes using Candid Imperial Tonic, one for poolside and one for a night out.

X Financial (NYSE: XYF) Reports Q2 2025 Results: Revenue +66%, Record Loan Originations, Improved Asset Quality

SHENZHEN, China, Aug. 19, 2025 /PRNewswire/ — X Financial (NYSE: XYF), a leading Chinese fintech platform, today announced its unaudited financial results for the second quarter ended June 30, 2025.

Q2 2025 Highlights

  • Total net revenue reached $317.3 million (RMB2,273.1 million), up 65.6% year-over-year (“YoY“), driven by robust loan facilitation growth and healthy platform activity.
  • Total loan amount facilitated and originated[1] hit a record RMB38.99 billion (~$5.43 billion), up 71.4% YoY, as borrower demand remained strong. X Financial facilitated and originated approximately 3.72 million loans, with active borrowers rising 73.7% YoY to 2.85 million.
  • Net income rose 27.1% YoY to $73.7 million (RMB528.0 million). Non-GAAP adjusted net income was $82.8 million (RMB593.2 million), up 58.3% YoY.
  • The 31–60 days delinquency rate decreased to 1.16% (from 1.29% in the same period of 2024) and 91–180 days rate declined to 2.91% (from 4.38% in the same period of 2024).

“Q2 2025 continued our strong momentum, with nearly RMB39 billion in total loan amount facilitated and originated and revenue up 66%,” said Kent Li, President of X Financial. “We added over 427,000 active borrowers this quarter, maintained healthy asset quality, and scaled our platform efficiently. These results underscore our disciplined execution and focus on long-term value creation.”

(In thousands, except for share and per share data)

Three Months Ended
June 30, 2024

Three Months Ended
March 31, 2025

Three Months Ended
June 30, 2025

QoQ

YoY

 RMB

 RMB

 RMB

Total net revenue

1,372,588

1,937,505

2,273,123

17.3 %

65.6 %

Net income

415,303

458,127

528,016

15.3 %

27.1 %

Non-GAAP adjusted net income

374,661

466,766

593,215

27.1 %

58.3 %

Net income per ADS—basic

8.46

10.92

12.60

15.4 %

48.9 %

Net income per ADS—diluted

8.28

10.56

12.00

13.6 %

44.9 %

[1] Represents the total amount of loans that the Company facilitated and originated during the relevant period.

Business Outlook & Share Repurchase Plans

  • Business Outlook: Based on current trends, X Financial expects the total loan amount facilitated and originated in the third quarter of 2025 to be in the range of RMB32.0 billion to RMB34.0 billion. This represents a deliberate moderation from record Q2 levels, as management places greater emphasis on asset quality and profitability over pure volume growth. The Company remains attentive to challenges and uncertainties from the evolving regulatory environment, while maintaining confidence in resilient borrower demand and disciplined execution.
  • Capital Return to Shareholders: From January 1, 2025 through August 15, 2025, X Financial repurchased an aggregate of approximately 16.7 million Class A ordinary shares, including approximately 2.3 million ADSs, for a total consideration of approximately US$47.7 million under its share repurchase programs. The Company’s previous US$50 million repurchase authorization has been fully utilized. The Company now has approximately US$68.2 million remaining under its new US$100 million share repurchase program, which is effective through November 30, 2026. This program underscores the Company’s confidence in its long-term growth outlook and its commitment to enhancing shareholder value. Repurchases under the program remain subject to market conditions and other factors and may be modified or suspended at management’s discretion.
  • Declaration of Semi-Annual Dividend: Pursuant to the semi-annual dividend policy, the Board today approved the declaration and payment of a semi-annual dividend of US$0.28 per ADS (approximately US$0.0467 per ordinary share). The holders of the Company’s ordinary shares shown on the Company’s record at the close of trading on September 26, 2025 (U.S. Eastern Daylight Time) will be entitled to the semi-annual dividend. These shareholders, including the Bank of New York Mellon, the depositary of our ADS program (the “Depositary”), will receive the payments of dividends on or about October 15, 2025. Dividends to the Company’s ADS holders will be paid by the Depositary on or after October 15, 2025, and the precise timing of receipt will vary based on the processing efficiency of the respective holding brokerage.

“We remain committed to disciplined execution and long-term value creation,” said Frank Fuya Zhang, Chief Financial Officer. “Our strong Q2 performance, with GAAP earnings of US$1.76 per ADS and non-GAAP earnings of US$1.98 per ADS, together with our solid balance sheet, position us to return capital while investing in sustainable growth.”

Conference Call

X Financial’s management team will host an earnings conference call at 8:30 AM U.S. Eastern Time on August 19, 2025 (8:30 PM Beijing / Hong Kong Time on August 19, 2025).

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

United States:

1-888-346-8982

Hong Kong:

852-301-84992

Mainland China:

4001-201203

International:

1-412-902-4272

Passcode:

X Financial

Please dial in ten minutes before the call is scheduled to begin and provide the passcode to join the call.  A replay of the conference call may be accessed by phone at the following numbers until August 26, 2025:

United States:

1-877-344-7529

International:

1-412-317-0088

Passcode:

1404098

Additional Information

This press release contains highlights only. For the Company’s complete financial results and management’s discussion and analysis for the second quarter of 2025, please refer to the Form 6-K filed with the U.S. Securities and Exchange Commission on August 19, 2025.

About X Financial

X Financial (NYSE: XYF) (the “Company”) is a leading Chinese fintech platform. The Company is committed to connecting borrowers on its platform with its institutional funding partners. With its proprietary big data-driven technology, the Company has established strategic partnerships with financial institutions across multiple areas of its business operations, enabling it to facilitate and originate loans to prime borrowers under a risk assessment and control system.

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

Use of Non-GAAP Financial Measures

In evaluating our business, we consider and use non-GAAP measures as supplemental measures to review and assess our operating performance. We present the non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. We believe that the use of the non-GAAP financial measures facilitates investors’ assessment of our operating performance and help investors to identify underlying trends in our business that could otherwise be distorted by the effect of certain income or expenses that we include in income (loss) from operations and net income (loss). We also believe that the non-GAAP measures provide useful information about our core operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.

We use in this press release the following non-GAAP financial measures: (i) adjusted net income (loss), (ii) adjusted net income (loss) per basic ADS, (iii) adjusted net income (loss) per diluted ADS, (iv) adjusted net income (loss) per basic share, and (v) adjusted net income (loss) per diluted share, each of which excludes share-based compensation expense, impairment losses on financial investments, income (loss) from financial investments, gain (loss) from financial investments at equity method and impairment losses on long-term investments. These non-GAAP financial measures have limitations as analytical tools, and when assessing our operating performance, investors should not consider them in isolation, or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP.

We mitigate these limitations by reconciling the non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures, which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure.

For more information on these non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP results” set forth at the end of this press release.

Exchange Rate Information

This press release contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.1636 to US$1.00, the exchange rate in effect as of June 30, 2025, as published in the Federal Reserve Board’s H.10 statistical release. Percentages stated in this release are calculated based on the RMB amounts.

Disclaimer

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the followings: the Company’s goals and strategies; its future business development, financial condition and results of operations; the expected growth of the credit industry, and marketplace lending in particular, in China; the demand for and market acceptance of its marketplace’s products and services; its ability to attract and retain borrowers and investors on its marketplace; its relationships with its strategic cooperation partners; competition in its industry; and relevant government policies and regulations relating to the corporate structure, business and industry. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this announcement is current as of the date of this announcement, and the Company does not undertake any obligation to update such information, except as required under applicable law.

Use of Projections

This announcement also contains certain financial forecasts (or guidance) with respect to the Company’s projected financial results. The Company’s independent auditors have not audited, reviewed, compiled or performed any procedures with respect to the projections or guidance for the purpose of their inclusion in this announcement, and accordingly, they did not express an opinion or provide any other form assurance with respect thereto for the purpose of this announcement. This guidance should not be relied upon as being necessarily indicative of future results. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could actual results to differ materially from those contained in the prospective financial information. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of the Company, or that actual results will not differ materially from those set forth in the prospective financial information. Inclusion of the prospective financial information in this announcement should not be regarded as a representation by any person that the results contained in the prospective financial information will actually be achieved. You should review this information together with the Company’s historical information.

For more information, please contact:

X Financial
Mr. Noah Kauffman (Chief Financial Strategy Officer)
E-mail: ir@xiaoying.com

 

X Financial

Unaudited Condensed Consolidated Balance Sheets

(In thousands, except for share and per share data)

As of December 31, 2024

As of June 30, 2025

As of June 30, 2025

 RMB 

RMB

USD

 ASSETS 

 Cash and cash equivalents 

984,611

1,152,990

160,951

 Restricted cash, net 

676,793

788,224

110,032

 Accounts receivable and contract assets, net  

2,029,550

3,161,642

441,348

 Loans receivable from Credit Loans and other loans, net 

4,828,317

5,017,643

700,436

 Deposits to institutional cooperators, net 

1,958,297

2,141,552

298,949

 Prepaid expenses and other current assets 

34,079

126,514

17,661

 Financial guarantee derivative 

1,038

12,055

1,683

 Deferred tax assets, net 

197,713

259,651

36,246

 Long-term investments 

498,038

508,480

70,981

 Property and equipment, net 

15,833

18,532

2,587

 Intangible assets, net 

36,592

37,151

5,186

 Financial investments 

513,476

426,144

59,487

 Other non-current assets 

44,951

37,277

5,204

 TOTAL ASSETS 

11,819,288

13,687,855

1,910,751

 LIABILITIES 

 Payable to investors and institutional funding partners at amortized cost 

2,184,086

2,454,750

342,670

 Contingent guarantee liabilities 

187,641

322,645

45,040

 Deferred guarantee income 

164,725

323,073

45,099

 Short-term borrowings 

328,500

401,500

56,047

 Accrued payroll and welfare 

94,717

77,739

10,852

 Other tax payable 

279,993

345,598

48,244

 Income tax payable 

591,491

631,032

88,089

 Accrued expenses and other current liabilities 

941,506

1,334,032

186,223

 Other non-current liabilities 

27,516

19,924

2,781

 Deferred tax liabilities 

65,959

56,660

7,909

 TOTAL LIABILITIES 

4,866,134

5,966,953

832,954

 Commitments and Contingencies 

 Equity: 

 Common shares (250,678,439 and 245,300,795 shares outstanding as of
December 31, 2024 and June 30, 2025) 

207

207

29

 Treasury stock   

(509,644)

(685,242)

(95,656)

 Additional paid-in capital 

3,207,028

3,244,966

452,980

 Retained earnings 

4,174,511

5,083,697

709,657

 Other comprehensive income 

81,052

77,274

10,787

 TOTAL EQUITY 

6,953,154

7,720,902

1,077,797

 TOTAL LIABILITIES AND EQUITY 

11,819,288

13,687,855

1,910,751

 

X Financial

 Unaudited Condensed Consolidated Statements of Comprehensive Income 

 Three Months Ended June 30, 

Six Months Ended June 30,

(In thousands, except for share and per share data)

2024

2025

2025

2024

2025

2025

 RMB 

 RMB 

 USD 

 RMB 

 RMB 

 USD 

Net revenues

Loan facilitation service

732,249

1,369,443

191,167

1,346,399

2,447,823

341,703

Post-origination service

154,669

271,407

37,887

307,411

537,448

75,025

Financing income

351,012

319,938

44,662

685,640

630,078

87,955

Guarantee income

45,564

102,570

14,318

78,490

185,498

25,895

Other revenue

89,094

209,765

29,282

162,622

409,781

57,203

Total net revenue

1,372,588

2,273,123

317,316

2,580,562

4,210,628

587,781

Operating costs and expenses:

Origination and servicing

415,071

513,974

71,748

841,618

987,699

137,877

Borrower acquisitions and marketing

323,636

756,264

105,570

572,010

1,465,271

204,544

General and administrative

39,073

49,539

6,915

77,547

101,284

14,139

Provision for accounts receivable and contract assets

9,016

33,360

4,657

17,671

42,408

5,920

Provision for loans receivable

95,865

46,394

6,476

157,405

108,590

15,159

Provision for contingent guarantee liabilities

21,376

207,383

28,950

69,269

271,130

37,848

Change in fair value of financial guarantee derivative

(9,574)

(1,336)

(14,991)

(2,093)

Provision for credit losses for deposits and other financial assets

5,498

727

101

5,448

1,276

178

Total operating costs and expenses

909,535

1,598,067

223,081

1,740,968

2,962,667

413,572

Income from operations

463,053

675,056

94,235

839,594

1,247,961

174,209

Interest income (expenses), net

(1,818)

3,984

556

(6,109)

1,265

177

Foreign exchange gain (loss)

(7,807)

2,101

293

(8,231)

(10,381)

(1,449)

Income (loss) from financial investments[1]

(3,829)

(15,378)

(2,147)

4,498

(19,056)

(2,660)

Other income (loss), net

(657)

221

31

3,388

2,156

301

Income before income taxes

448,942

665,984

92,968

833,140

1,221,945

170,578

Income tax expense

(89,568)

(110,795)

(15,466)

(154,593)

(227,323)

(31,733)

Gain from equity in affiliates, net of tax

824

9,830

1,372

2,869

7,647

1,067

Gain (loss) from financial investments at equity method, net of tax[1]

55,105

(37,003)

(5,165)

97,024

(16,126)

(2,251)

Net income

415,303

528,016

73,709

778,440

986,143

137,661

Less: net income attributable to non-controlling interests

Net income attributable to X Financial shareholders

415,303

528,016

73,709

778,440

986,143

137,661

Net income 

415,303

528,016

73,709

778,440

986,143

137,661

Other comprehensive income, net of tax of nil:

Gain from equity in affiliates

184

26

30

184

26

Income (loss) from financial investments

2,294

4,519

(768)

(107)

Foreign currency translation adjustments

3,970

(2,995)

(418)

5,188

(3,194)

(446)

Comprehensive income

421,567

525,205

73,317

788,177

982,365

137,134

Less: comprehensive income attributable to non-controlling interests

Comprehensive income attributable to X Financial shareholders

421,567

525,205

73,317

788,177

982,365

137,134

Net income per share—basic

1.41

2.10

0.29

2.65

3.91

0.55

Net income per share—diluted 

1.38

2.00

0.28

2.60

3.75

0.52

Net income per ADS—basic

8.46

12.60

1.76

15.90

23.46

3.27

Net income per ADS—diluted 

8.28

12.00

1.68

15.60

22.50

3.14

Weighted average number of ordinary shares outstanding—basic

293,914,248

251,566,501

251,566,501

294,224,447

251,927,644

251,927,644

Weighted average number of ordinary shares outstanding—diluted

300,458,575

263,948,357

263,948,357

299,681,672

263,019,346

263,019,346

 

[1] The Company has revised the presentation of the gain (loss) from financial investments at equity method after income tax expense, which previously reported as “Income (loss) from financial investments” before income tax expense. Additionally,  “Impairment losses on long-term investments” accounted under the equity method have been reclassified  into the gain (loss) from equity in affiliates after income tax expense. This change in presentation does not affect the net income for any periods presented.

 

X Financial

Unaudited Reconciliations of GAAP and Non-GAAP Results

Three Months Ended June 30,

Six Months Ended June 30,

(In thousands, except for share and per share data)

2024

2025

2025

2024

2025

2025

RMB

RMB

USD

RMB

RMB

USD

GAAP net income

415,303

528,016

73,709

778,440

986,143

137,661

Less: Income (loss) from financial investments (net of tax of nil)

(3,829)

(15,378)

(2,147)

4,498

(19,056)

(2,660)

Less: Impairment losses on financial investments (net of tax of nil)

Less: Impairment losses on long-term investments (net of tax)

Less: Gain (loss) from financial investments at equity method (net of tax of nil)

55,105

(37,003)

(5,165)

97,024

(16,126)

(2,251)

Add: Share-based compensation expenses (net of tax of nil)

10,634

12,818

1,789

19,946

38,656

5,396

Non-GAAP adjusted net income

374,661

593,215

82,810

696,864

1,059,981

147,968

Non-GAAP adjusted net income per share—basic

1.27

2.36

0.33

2.37

4.21

0.59

Non-GAAP adjusted net income per share—diluted 

1.25

2.25

0.31

2.33

4.03

0.56

Non-GAAP adjusted net income per ADS—basic

7.62

14.16

1.98

14.22

25.26

3.53

Non-GAAP adjusted net income per ADS—diluted 

7.50

13.50

1.88

13.98

24.18

3.38

Weighted average number of ordinary shares outstanding—basic

293,914,248

251,566,501

251,566,501

294,224,447

251,927,644

251,927,644

Weighted average number of ordinary shares outstanding—diluted

300,458,575

263,948,357

263,948,357

299,681,672

263,019,346

263,019,346

 

AAP and Google Announce New Partnership

SYDNEY, Aug. 19, 2025 /PRNewswire/ — Australian Associated Press (AAP) will provide its fact-based news content to Google as part of a new partnership to help enhance the usefulness of results displayed in the Gemini app.

The newswire boasts a 90-year history of providing primary-source journalism and has a strong reputation for objectivity. That proven community standing means AAP’s latest news will provide valuable and reliable content for use in Google’s Gemini app.

This continues AAP’s important partnership with Google which has included assistance with AAP’s significant digital transformation.

“We are pleased to partner with Google to provide our journalism as a mechanism for ensuring timeliness and accuracy in the information that its products provide,” AAP CEO Emma Cowdroy said.

“This is a strong endorsement of our reputation as a leading and trusted news media organisation.”

Nic Hopkins, Google’s Head of News Partnerships for Australia and New Zealand, said: “Google has partnered with AAP for several years on training journalists and investing in digital innovation. This new partnership with AAP will help deliver a feed of real-time information to enhance responses in the Gemini app and will assist Australians when they look for locally relevant up-to-date information.”

AAP’s content is produced by experienced journalists based across Australia and travelling abroad, created in an environment that is free from commercial and political influences. The nation’s only independent newswire supplies articles, photography, video and fact-checking to hundreds of digital, broadcast and print outlets across Australia, including many in regional areas.