HONG KONG SAR – Media OutReach Newswire – 2 September 2025 – On 29 August, Fosun International held its 2025 interim results presentation, during which management delivered a clear strategic message—highlighting a sharpened focus on core businesses, the deepening of global operations, and sustained investment in innovation to lay a solid foundation for future development. Following the results presentation, both domestic and foreign securities firms have published optimistic research reports, affirming Fosun’s long-term value and promising outlook.

Citi and Industrial Securities have reiterated their “Buy” and “Overweight” ratings respectively, expressing their bullish views on Fosun’s “business streamlining, and strategic advancements and exits” strategy and its proactive asset structure optimization. Previously, Citi renewed coverage of Fosun International with a “Buy” rating on 23 July. Following the recent results presentation, Citi issued another research report on Fosun International, reaffirming its “Buy” rating and raising the target price from HK$5.86 to HK$6.50.

Citi notes that Fosun is accelerating its “strategic advancements and exits” strategy. By the end of June 2025, Fosun completed the sale of its 99.743% stake in the German private bank HAL, while retaining the asset servicing business HAFS. Citi believes that the capital recycling from asset divestments will enhance shareholders’ returns. The report highlights that Fosun’s share price is currently trading at a 72% discount to its net asset value (NAV). Reflecting the market value of listed investments in the NAV, Citi expects a potential valuation recovery for Fosun International and has therefore raised its target price. Industrial Securities also acknowledges Fosun’s ongoing asset portfolio optimization and clear strategic direction, noting that the Group expanded offshore USD bonds, organized offshore syndicated loan, and issued domestic bonds in the first half of the year, resulting in a financing cost reduction of over 30 basis points compared to the end of 2024.

Both Citi and Industrial Securities highlight that Fosun’s core industries, such as innovative drugs, have made significant breakthroughs, while its cultural tourism business, Club Med, has achieved record-high results and insurance operations have showed steady growth. Fosun’s Health segment, particularly biopharmaceuticals, performed exceptionally well, with multiple innovative drugs of Henlius achieving major breakthroughs. HANSIZHUANG (serplulimab), the world’s first anti-PD-1 monoclonal antibody (mAb) approved for first-line treatment of small cell lung cancer (SCLC), recorded a global sales revenue of RMB597.7 million. To date, HANSIZHUANG has been successfully approved for marketing in nearly 40 countries and regions, covering nearly half of the world’s population. HLX43, the world’s first PD-L1-targeting antibody-drug conjugate (ADC) to enter Phase II clinical trials, is undergoing clinical studies for solid tumors such as non-small cell lung cancer (NSCLC) and thymic carcinoma in countries including China, the US, Japan, and Australia. Meanwhile, HLX22, another innovative drug, was granted Orphan Drug Designation (ODD) by the European Commission (EC) for the treatment of gastric cancer, marking it as the first anti-HER2-targeted therapy for gastric cancer to receive ODD approval from both the EU and the US.

Industrial Securities also points out that Fosun’s overseas revenue accounted for 53%, representing an increase of 6.6 percentage points year-on-year, demonstrating the effectiveness of its globalization strategy. Club Med’s global performance once again reached a record high, with business volume amounting to RMB9.25 billion in the first half of 2025. The insurance segment also delivered solid performance, with the Group’s insurance business generating revenue of RMB20.89 billion in the first half of 2025. Fosun Insurance Portugal recorded overseas gross written premiums (GWP) of EUR924 million and received an “A” rating from S&P, while Peak Reinsurance achieved GWP of US$1,061 million, reflecting a year-on-year increase of 25.1%, demonstrating strong growth momentum.

In addition, Fosun has continued to drive innovation in financial technology. Finloop, independently incubated by Fosun Wealth, has launched the FinRWA Platform (FRP), a comprehensive one-stop solution for Real World Assets (RWA) technology. The company is actively advancing asset tokenization projects. Fosun International Securities Limited and Fosun International Asset Management Limited have respectively obtained upgraded Type 1 and Type 9 licenses from the Hong Kong Securities and Futures Commission (HKSFC), with steady progress in building virtual asset and RWA platforms.

Overall, by focusing on its core advantageous industries, optimizing capital structure, and deepening its global operations, Fosun has earned unanimous support from domestic and foreign securities firms, with the market highly optimistic about its future growth prospects.

Hashtag: #Fosun #FosunInternational

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

Y Combinator-backed US fintech expands services to India with minutes-fast transfers that bypass traditional banking delays

SAN FRANCISCO, US – EQS Newswire – 2 September 2025 – Y Combinator-backed startup fintech Grey (https://Grey.co/) has expanded its services to India, now offering almost instant rupee payouts to serve Indians earning from international sources—from freelancers and entrepreneurs to students and expats sending money home, receiving support from family and managing cross-border finances.

The product expansion positions Grey, a US-licensed fintech, that serves over 2 million users across 50+ countries, as a major player offering comprehensive global banking services specifically designed for India’s digitally connected workforce, providing instant access to USD, EUR, and GBP accounts alongside local rupee conversions.

India processes over $125 billion in annual remittances, more than any country globally, yet most recipients still wait 3-5 business days and pay 3-7% in hidden fees for international transfers.

“Traditional banks treat international payments like it’s still 1995,” said Idorenyin Obong, Grey’s CEO, who spent time in Bengaluru meeting users “I talked to a freelance designer who was losing ₹15,000 monthly just on conversion fees and delays. That’s serious money.”

The timing reflects India’s growing global economic integration. The country has the world’s largest freelance market with over 15 million freelancers and approximately 3 million remote workers employed by foreign companies. Most still rely on traditional payment methods with multi-day delays, despite having clients primarily based in the US, UK, Australia, Europe, and South America.

Grey’s approach differs by providing users with actual US, European, and UK bank account details, allowing international clients to pay as if hiring locally, then instantly converting funds to rupees on the recipient’s end.

“We’re not just another remittance app,” Obong explained. “We’re giving Indians the same financial infrastructure that Americans and Europeans have which is instant access to global money.”

The launch positions Grey directly against established players in India, a market where cross-border payment companies have struggled with regulatory complexity and local banking partnerships.

Indian users can sign up immediately at https://Grey.co/. The service supports payouts from 170+ countries and includes virtual USD debit cards and USDC cryptocurrency deposits and payouts.

Distributed by APO Group on behalf of Grey.

Hashtag: #Grey

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

About Grey

Grey is at the forefront of providing secure and convenient global banking solutions to meet the needs of customers and businesses. Grey holds a Money Service Business license from FINTRAC in Canada, and FinCEN in the USA, and our primary focus is emerging markets. Our range of services enables individuals and businesses to easily own and manage multi-currency accounts (https://Grey.co/Foreign-Accounts). This includes currency exchange (https://Grey.co/Currency-Exchange), sending and receiving payments (https://Grey.co/Money-Transfer) to and from over 170 countries, as well as access to virtual cards (https://Grey.co/Cards).

SINGAPORE – Media OutReach Newswire – 2 September 2025 – At the Global Anti-Scam Summit (GASS) Asia 2025 today, Mr Tan Kiat How, Senior Minister of State for the Ministry of Digital Development and Information and Ministry of Health, and Patron of the GASA Singapore Chapter, announced a series of key initiatives to combat the rising tide of online scams, which have cost Southeast Asia an estimated US$23.6 billion in the past year. The key initiatives include:

● GovTech Singapore joining the Global Signal Exchange (GSE): The Government Technology Agency of Singapore (GovTech Singapore) is the first government agency globally to commit to exchanging scam signals through the GSE for scam disruption.

● Google.org’s US$5 million fund: Google.org is providing US$5 million in funding to The ASEAN Foundation to expand online scam prevention resources to 3 million people across Southeast Asia.

● New report and game: A new report on building resilience against digitally-enabled scams and fraud in Southeast Asia was released by the Tech for Good Institute in partnership with Bamboo Builders. Additionally, an immersive web-game was announced as part of the ScamWISE National Education Programme by Bamboo Builders.

● GASA network expansion: The Global Anti-Scam Alliance (GASA) network has grown, with new operational chapters in Indonesia and the Philippines joining the existing one in Singapore.

State Of Scams In Southeast Asia 2025 Report

The newly launched “State of Scams in Southeast Asia 2025 Report,” which surveyed 6,000 people across Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam, revealed the staggering scale of the problem. An average of US$660 is lost per person, with Singapore experiencing the highest per person loss at US$2,132. The report also found that nearly two-thirds of all scams occur within 24 hours of first contact, and an alarming 77% of Southeast Asian adults were exposed to a scam in the past year.

Jorij Abraham, Managing Director of GASA, emphasised the urgent need for action. “Online scams are not just a consumer inconvenience, they are a global security challenge undermining digital trust and economic resilience,” Abraham said. “Criminal networks are moving faster than our protections, but it is possible to close the gap. GASA’s mission is to provide the infrastructure and partnership needed to close this gap – uniting efforts across sectors and borders to build a stronger, collective defence.”

GovTech Singapore Has Become The First Government Agency To Commit to Exchanging Scam Signals Through The Global Signal Exchange (GSE)

The Government Technology Agency of Singapore (GovTech Singapore) has joined the GSE, making it the first government agency globally to commit to exchanging scam signals. Tracking over 400 million threats in real time, the GSE allows member organisations to rapidly share information for scam disruption. Co-founded by Oxford Information Labs Research (OXIL), Google, and the Global Anti-Scam Alliance (GASA), GSE is the first global clearinghouse for the sharing of scams and fraud threat signals, with members including technology giants such as Meta and Microsoft. This collaboration is a major step in strengthening global public-private partnership against online scams.

Mr Tan Kiat How, Senior Minister of State for the Ministry of Digital Development and Information and Ministry of Health, and Patron of the GASA Singapore Chapter said, “The rapid advancement of artificial intelligence has introduced powerful new tools, but it’s a double-edged sword. With AI, scammers can create hyper-realistic deepfake videos, generate persuasive and personalised text messages at scale, and automate fraudulent campaigns with unprecedented speed. Combating this requires close collaboration between governments, industry, and civil society, and a strategy of using technology to fight technology. These global summits are vital for sharing lessons and building more coordinated responses across the region.”

Google.org Announces US$5 Million In Funding To Support The ASEAN Foundation

Google.org, Google’s philanthropic arm, also announced US$5 million in funding to support The ASEAN Foundation, which will work with local partners to expand online scam prevention resources for 3 million people across Southeast Asia. This includes scaling the educational game “Be Scam Ready”, a tool designed by Google to build resilience against online threats by exposing players to common scam tactics in a safe environment, helping them learn how to spot the real thing. Google plans for an October launch in Singapore and aims to roll out the interactive game to more markets in the Asia Pacific region in 2026 by leveraging GASA’s extensive member network.

New Report And Web-game Announced At The Sidelines Of The Global Anti-Scam Summit

In a separate announcement, the Tech for Good Institute, in partnership with Bamboo Builders and supported by Google.org, released a new report at the sidelines of the Global Anti-Scam Summit Asia 2025. The new report, “Building Resilience Against Digitally-enabled Scams and Fraud in Southeast Asia,” emphasises the critical need for a “whole-of-society” approach to combatting online scams. It advocates for building digital resilience at every stage of a victim’s journey and stresses the importance of localised, relevant strategies. The findings are based on insights from over 70 regional experts, including members of the Global Anti-Scam Alliance.

In addition, Bamboo Builders also announced an immersive web-game as part of the SG ScamWISE National Education Programme. “ScamWISE Squad,” by Bamboo Builders with the support of Google.org, is an immersive game that transforms real-life scam case studies from Singapore into an engaging and relatable educational experience for all ages. Scheduled for a full release in 2026, the game aims to equip 100,000 Singaporeans, particularly youth and seniors, with the skills to defend themselves against scams and online threats.

GASA Network Expansion in Southeast Asia

The recently launched “State of Scams in Southeast Asia 2025 Report” revealed that 63% of Southeast Asian adults claim to have had a scam experience in the last 12 months. To address the growing threat of scams, the Global Anti-Scam Alliance (GASA) has significantly expanded its presence in Southeast Asia, establishing operational chapters in both Indonesia and the Philippines over the past year. These new chapters join the existing one in Singapore, creating a stronger regional network for combating online fraud.

By creating local chapters, GASA is able to foster greater collaboration and intelligence-sharing within these key markets. Rajat Maheshwari, chairman of the GASA Singapore Chapter and Senior Vice President, Strategic Growth, Asia Pacific, Mastercard, added that effective solutions cannot be developed in silos. “Singapore has shown that with the right alignment between public and private sectors, we can move the needle,” Maheshwari noted. “Our collective responsibility is to scale these solutions across Southeast Asia and beyond to ensure that citizens and businesses alike can operate in a trusted digital environment.”
Hashtag: #GASS #GASA

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

About the Global Anti-Scam Alliance (GASA)

The Global Anti-Scam Alliance (GASA) is an international non-profit organisation dedicated to protecting consumers worldwide from scams and online fraud. Working across the globe, GASA brings together governments, law enforcement agencies, consumer protection bodies, financial institutions, technology companies, academia, and civil society to share intelligence, coordinate responses, and develop joint strategies.

Through initiatives such as the Global Signal Exchange, a secure platform for real-time scam data sharing, and the Global Anti-Scam Summit series, GASA drives collaboration that enables faster detection, disruption and prevention of scams. Its work is guided by a mission to reduce the financial and emotional harm caused by scams, and to create a safer digital environment for all.