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Bybit On-Chain Earn Launches HYPE Festival: Gateway to Hyperliquid Ecosystem Opportunities

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DUBAI, UAE, Aug. 28, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to launch the Bybit On-Chain Earn HYPE Festival, offering HYPE (Hyperliquid) holders access to premium staking rewards, while positioning them to capitalize on the expanding Hyperliquid ecosystem.

Exclusive on Bybit On-chain Earn, the month-long event starts now until September 27, 2025, inviting users to unlock a 2,500 HYPE bonus pool. It offers eligible users access to attractive yield and serves as a strategic entry point for participants seeking exposure to Hyperliquid’s leading decentralized finance infrastructure. HYPE holders who engage in staking activities gain enhanced positioning within an iconic ecosystem designed for high-frequency trading, perpetual contracts, and advanced DeFi applications.

Hyperliquid operates as a high-performance Layer 1 blockchain engineered specifically for fully on-chain financial operations. The platform processes orders, trades, and liquidations with sub-second execution times while maintaining complete transparency through on-chain settlement. This infrastructure creates substantial opportunities for ecosystem participants, from liquidity provision to advanced trading strategies.

Bybit On-Chain Earn Launches HYPE Festival: Gateway to Hyperliquid Ecosystem Opportunities
Bybit On-Chain Earn Launches HYPE Festival: Gateway to Hyperliquid Ecosystem Opportunities

Enhanced Staking Infrastructure and Returns

Bybit’s On-Chain Earn platform addresses traditional staking complexities by managing technical requirements and fee structures while distributing daily earnings automatically. The infrastructure supports blockchain network security through validation activities while providing participants with flexible staking and redemption options.

Bybit is committed to providing institutional-grade infrastructure for emerging blockchain ecosystems while improving accessibility for users to participate in next-generation DeFi protocols. Through on-chain staking with HYPE on Bybit, participants stand to position themselves within a rapidly expanding ecosystem that combines high-performance trading infrastructure with innovative tokenomic design.

#Bybit / #TheCryptoArk  

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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Sands China Properties Surpass Milestone of 1.1 Billion Visitors

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Continued investment in non-gaming offerings while marking a new chapter in development

MACAO, Aug. 28, 2025 /PRNewswire/ — Sands China Ltd. has now welcomed over 1.1 billion visitors to its properties, a major milestone in the company’s more than two decades of development in Macao.

Sands China team members gather Thursday at its flagship property, The Venetian Macao, to celebrate the arrival of its 1.1 billionth guest. Dr. Wilfred Wong, executive vice chairman of Sands China Ltd., and Grant Chum, the company’s chief executive officer and executive director, presented exclusive surprises to the lucky guest, commemorating Sands China’s journey along the Cotai Strip.
Sands China team members gather Thursday at its flagship property, The Venetian Macao, to celebrate the arrival of its 1.1 billionth guest. Dr. Wilfred Wong, executive vice chairman of Sands China Ltd., and Grant Chum, the company’s chief executive officer and executive director, presented exclusive surprises to the lucky guest, commemorating Sands China’s journey along the Cotai Strip.

The company celebrated the arrival of its 1.1 billionth guest with a welcome ceremony Thursday at its flagship property, The Venetian® Macao. During the event, Dr. Wilfred Wong, executive vice chairman of Sands China Ltd., and Grant Chum, the company’s chief executive officer and executive director, presented exclusive surprises to the lucky guest, commemorating Sands China’s journey along the Cotai Strip. The occasion coincided with Thursday’s 18th anniversary of The Venetian Macao, a favourite spot among global travellers and a must-visit destination in Macao.

Sands China’s story in Macao began in 2004 with the eagerly awaited grand opening of Sands® Macao, Macao’s first hotel and entertainment complex of its type. It laid a solid foundation for the company’s introduction of integrated resort offerings on the Cotai Strip. In 2007, The Venetian® Macao debuted as the world’s second-largest building at the time, pioneering large-scale integrated resorts in Macao. This was followed by The Plaza® Macao, Sands® Cotai Central, and The Parisian® Macao, opened respectively in 2008, 2012, and 2016 – with Sands Cotai Central now upgraded and transformed into The Londoner Macao®. These iconic attractions along the Cotai Strip are seamlessly connected, forming a European-themed destination that has reshaped the skyline of Cotai. Their development has laid a key foundation for Macao to offer a diverse, all-round mix of business, tourism, and leisure experiences to visitors.

“Surpassing 1.1 billion arrivals is not only a significant milestone for the company, but also a testament to the popularity of Macao’s tourism offerings and the vitality and sustainability of its economic development,” said Dr. Wong. “This remarkable achievement would not have been made possible without the guidance and strong support of the central and SAR governments, the concerted efforts of our 27,000 team members, and the solidarity of over 2,500 suppliers. Sands China calls Macao home and we are committed to fulfilling our corporate social responsibility while actively giving back to our community. Moving forward, we will continue to work alongside Macao and invest in non-gaming projects to polish further its ‘golden business card’ as an international metropolis, showcasing its unique charm to both residents and visitors from around the world.”

Sands China’s cumulative investment in Macao has exceeded MOP 134.5 billion, a consistent contributor to the city’s development as a world centre of tourism and leisure. The company’s integrated resorts offer over 10,000 hotel rooms, 150 dining options, and 760 retail outlets. They feature the region’s premier meetings and conventions destination, spanning more than 150,000 square metres, as well as two arenas and four theatres for international entertainment performances, with a total seating capacity of over 25,000.

Through efforts such as holding overseas roadshows and launching initiatives that promote the integration of sports, culture, and tourism, Sands China remains focused on enriching the visitor experience and raising the benchmark for hospitality, entertainment and gourmet experiences in Macao to attract international visitors.

About Sands China Ltd.

Sands China Ltd. (Sands China or the Company) is incorporated in the Cayman Islands with limited liability and is listed on The Stock Exchange of Hong Kong Limited (HKEx: 1928). Sands China is the largest operator of integrated resorts in Macao. The Company’s integrated resorts on the Cotai Strip comprise The Venetian® Macao, The Plaza® Macao, The Parisian® Macao and The Londoner Macao®. The Company also owns and operates Sands® Macao on the Macao peninsula. The Company’s portfolio features a diversified mix of leisure and business attractions and transportation operations, including large meeting and convention facilities; a wide range of restaurants; shopping malls; world-class entertainment at The Venetian Arena, The Londoner Arena, The Venetian Theatre, The Parisian Theatre, the Londoner Theatre and the Sands Theatre; and a high-speed Cotai Water Jet ferry service between Hong Kong and Macao. The Company’s Cotai Strip portfolio has the goal of contributing to Macao’s transformation into a world centre of tourism and leisure. Sands China is a subsidiary of global resort developer Las Vegas Sands Corp. (NYSE: LVS).

For more information, please visit www.sandschina.com.

Media contacts:
Corporate Communications, Sands China Ltd.
Mabel Wu
Tel: +853 8118 2268
Email: mabel.wu@sands.com.mo 

Jesse Chiang
Tel: +853 8118 2054
Email: jesse.chiang@sands.com.mo

Best Mart 360 Reports Interim Revenue Growth to HK$1.44 billion

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Proposed an interim dividend of HK11.0 cents per share


Highlights:

  • Revenue increased to approximately HK$1,436.6 million.
  • Gross profit increased to approximately HK$518.2 million.
  • Profit attributable to owners of the Company amounted to approximately HK$120.7 million.
  • As at 30 June 2025, the Group operated a total of 178 chain retail stores
  • Basic earnings per share was approximately HK12.1 cents. The Board recommended the payment of interim dividend of HK11.0 cents per share.

Financial Highlights:

For the 6 months ended 30 Jun
HK$’000 2025 2024 Change
Revenue 1,436,576 1,393,691 +3.1%
Sales derived from private label products 251,203 234,630 +7.1%
Gross profit 518,177 507,938 +2.0%
Interim dividend per share (HK cents) 11.0 11.0 – –

HONG KONG SAR – Media OutReach Newswire – 28 August 2025 – Best Mart 360 Holdings Limited (“Best Mart 360” or the “Company”, together with its subsidiaries, the “Group”; stock code: 2360.HK), a leading leisure food retailer in Hong Kong, announced its interim results for the six months ended 30 June 2025 (“the Period under Review”). During the Period under Review, the revenue recorded by the Group amounted to approximately HK$1,436,576,000, representing an increase of approximately 3.1% as compared to approximately HK$1,393,691,000 for the six months ended 30 June 2024 (the “Corresponding Period Last Year”).

During the Period under Review, profit attributable to owners of the Company amounted to approximately HK$120,652,000.

For the six months ended 30 June 2025, gross profit of the Group were approximately HK$518,177,000, representing an increase of approximately 2.0%, as compared to gross profits of approximately HK$507,938,000 for the six months ended 30 June 2024; and gross profit margin for the six months ended 30 June 2025 was approximately 36.1%. During the Period under Review, basic earnings per share of the Group was approximately HK12.1 cents. The Board recommended the payment of interim dividend of HK11.0 cents per share.

BUSINESS REVIEW

CHAIN RETAIL STORES
As at 30 June 2025, the Group operated a total of 178 chain retail stores, including 172 chain retail stores in Hong Kong and 6 chain retail stores in Macau, respectively. During the Period under Review, the Group continued to adopt its store optimization strategy by continuously improving the product display, store appearance and procurement arrangements, to provide customers with a better shopping environment and experience, and to showcase the Company’s further diversified product portfolio and good brand image.

In 2021, the Group launched a new global wine and food shop “FoodVille”, targeting mid-to-high end and global quality food products. These include fine wines, premium chocolates, health foods, cheese, Western sauces and ingredients from various countries and regions, catering to the market’s pursuit of a high-quality living and expanding the Group’s customer base. As at 30 June 2025, the Group operated a total of 8 stores under the relevant retail brand.

During the Period under Review, the ratio of rental expenses (on a cash basis) to sales revenue of the Group’s retail stores was approximately 9.6%.

THE PRODUCTS
During the Period under Review, the Group adhered to the global procurement strategy and strived to provide customers with a wide range of products from all over the world with diversified choices. During the Period under Review, the Group sold over 1,050 brands and more than 2,870 stock keeping units (“SKUs”) of products in total, offering customers a diversified range of choices. The Group continued to optimise its product portfolio, phasing out older items for new products and flavours, staying abreast of changes in customer demands.

To enrich our product mix and maintain effective control over product qualities and supplies and profitability, the Group continued to actively develop its private label products during the period. During the Period under Review, sales derived from private label products amounted to approximately HK$251,203,000 (for the six months ended 30 June 2024: approximately HK$234,630,000), accounted for approximately 17.5% of the Group’s overall revenue for the Period under Review.

The Group had a total of 12 private labels and approximately 259 SKUs of products, including masks, canned Chinese delicacies, cereals, milk, honey, nuts and dried fruits as well as a wide range of leisure food products.

MEMBERSHIP SCHEME AND MARKETING & PROMOTIONAL ACTIVITIES
As at 30 June 2025, the number of the Group’s registered fans and members was approximately 2,243,198 (30 June 2024: approximately 2,214,680). The number of mobile app members has reached approximately 1,238,775 as of 30 June 2025 (30 June 2024: approximately 1,112,031).

The Group conducted various marketing and promotional activities during the Period under Review, including the launch of the “Best Price (至優價)”, “Monday Reward (狂賞星期一)”, “Wednesday Reward (週三即日賞)”, “Instant Redemption Upon Purchase (一買即換)” and other promotional campaign, which continuously provided customers with a series of special offers for selected quality products to express our gratitude for our customers’ support and to enhance customer loyalty.

Meanwhile, the Group continued to advertise through television, newspapers, social media platforms and other media channels, which successfully obtained repeat customers, attracted new customers and greatly promoted the discussions about the Group in the market.

EMPLOYEES
As at 30 June 2025, the number of full-time and part-time employees of the Group was 1,187 (31 December 2024: 1,230). The year-on-year decrease was primarily due to an increase in full-time staff alongside a reduction in part-time staff, aimed at enhancing the service quality in stores. In order to retain staff and to suitably incentivise employees of the Group so as to increase staff cohesion and loyalty, the Group regularly reviews and updates its employee benefit plans and remuneration packages with reference to labour market supply and labour cost trend, as well as individual performance. Staff costs (excluding Directors’ emoluments) of the Group accounted for approximately 9.7% of revenue during the Period under Review (for the six months ended 30 June 2024: approximately 10.0%).

OUTLOOK
Amid escalating global geopolitical conditions, economic prospects remain fraught with uncertainties. Coupled with the changes in consumer spending patterns in recent years, the growing popularity of cross-border consumption has further hindered the recovery of the retail industry in Hong Kong. The Group anticipates that the retail business environment will remain challenging this year. The Group will remain prudent in conducting business, actively explore new products and new markets, and explore opportunities for diversified development. Simultaneously, the Group will continue to enhance internal operational efficiency, promote and refine management practices, optimise business processes, and control costs. The Group will closely monitor factors affecting its operations, flexibly adjust and implement relevant strategies flexibly timely to deliver the best returns for shareholders and investors.

Looking ahead, the Group will seize market opportunity to expand its store network of its major retail brands, namely the “Best Mart 360º (優品360º)” and “FoodVille”. By leveraging the “dual brand” model, the Group aims to meet the needs of different customer segments for quality food. The Group will review the operation of existing retail outlets regularly to adjust its operational strategy as needed. In addition, in June this year, the Group officially joined the foodpanda mall platform, enabling customers to purchase products online conveniently, expanding sales channels and boosting revenue.

The Group remains committed to its business mission of “Best Quality” and “Best Price”. It will actively seek upstream suppliers to enrich its product portfolio while maintaining a competitive edge in pricing. On the other hand, the Group will continue to actively explore different categories of food products globally to enhance the development of its own brand products to meet the market demand for daily necessities and provide customers with a more diversified range of choices.Hashtag: #BestMart360 #優品360

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

Best Mart 360 Holdings Limited

Best Mart 360 Holdings Limited, mainly operates chain retail stores under the brand “Best Mart 360˚”. It offers wide collection of imported prepackaged leisure foods and other grocery products, principally from overseas. The Group’s business objective is to offer “Best Quality” and “Best Price” products to customers through continuous efforts on global procurement with a mission to provide comfortable shopping environment and pleasurable shopping experience to customers. As at 30 June 2024, the Group operates 178 retail stores that are strategically located at 18 districts in Hong Kong and Macau. In addition, the Group’s new global gourmet store, “FoodVille”, was officially opened in September 2021, which mainly provides globally sourced medium-to-high-end quality food products.

Tether announces plan to bring USD₮ to RGB, advancing native stablecoins on Bitcoin and Lightning

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The stablecoin giant commits to issuing USD₮ on Bitcoin and Lightning in the near future, leveraging RGB technology. 

Paolo Ardoino, CEO of Tether: “With RGB, USD₮ gains a powerful new pathway on Bitcoin.”

LUGANO, Switzerland, Aug. 28, 2025 /PRNewswire/ — Tether announced today its intention to issue USD₮ on RGB, a next-generation protocol for issuing and transacting digital assets on Bitcoin and the Lightning Network. The RGB Protocol Association welcomes the announcement as a strong signal for builders and institutions seeking private, scalable and user-controlled asset rails on the world’s most secure network.

RGB reached mainnet readiness earlier this year with the v0.11.1 release, enabling developers to issue and manage assets using client-side validation and Bitcoin as a commitment layer. This design keeps asset data off-chain while anchoring proofs to Bitcoin transactions – minimizing chain bloat, preserving privacy, and enabling Lightning compatibility.

“Bitcoin deserves a stablecoin that feels truly native, lightweight, private, and scalable,” said Paolo Ardoino, CEO of Tether. “With RGB, USD₮ gains a powerful new pathway on Bitcoin, reinforcing our belief in Bitcoin as the foundation of a freer financial future.“

With USD₮ on RGB, users and service providers will be able to:

  • Hold and transfer USD₮ alongside bitcoin in the same wallet;
  • Leverage private, client-validated transactions that don’t reveal balances or flows on-chain;
  • Integrate with the Lightning Network to achieve instant settlement experiences, using RGB’s transport extensions.

Why it matters

RGB extends Bitcoin beyond a store of value, enabling stablecoins, tokenized assets, and programmable rights that inherit Bitcoin’s security model while keeping users in control. Adoption by major issuers like Tether can catalyze wallet support, merchant adoption, and cross-chain liquidity bridges without new L1 opcodes or consensus changes.

For developers & integrators

The Association invites wallets, exchanges, payment processors, and infrastructure providers to join working groups accelerating RGB20 (fungible assets) integrations, Lightning transports, and bridge connectors that expand USD₮ and other assets across Bitcoin-native rails.

About RGB Protocol Association

RGB Protocol Association is a Swiss non-profit committed to stewarding the development, standardization, and adoption of RGB – private & scalable digital contracts for Bitcoin and Lightning – through open collaboration with companies, researchers, and the broader free-software community. Learn more at rgbprotocol.org.

Official announcement:
https://tether.io/news/tether-to-launch-usdt-on-rgb-expanding-native-bitcoin-stablecoin-support/

Media & Partnerships
press@rgbprotocol.org 
Resources: rgb.info | github.com/rgb-protocol

 

Well-Known Chinese Brand Publishes Landmark Paper in Springer Nature’s Top Journal Nano-Micro Letters

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A leading Chinese kid’s brand’s sunscreen technology sets a new global benchmark.

GUANGZHOU, China, Aug. 28, 2025 /PRNewswire/ — Hi!papa, a leading Chinese kid’s brand, recently published a paper on sunscreen technology in Nano-Micro Letters, a top international journal under Springer Nature with an impact factor of 36.3. The study is the world’s first to apply advanced materials technology from mobile phone manufacturing to skincare, breaking through a 20-year bottleneck in sunscreen innovation and setting a new benchmark for the global sunscreen industry.


Nano-Micro Letters is a peer-reviewed, top-ranked international journal in materials science, covering interdisciplinary research on nano- and microscale structures across physics, chemistry, biology, and pharmacy. In the 2025 Journal Citation Reports, the journal ranked in the top two percent globally in three disciplines. Its content highlights industrial breakthroughs that often enter daily life within a short period of time. Hi!papa’s inclusion highlights the exceptional weight of this achievement.

This scientific breakthrough reflects the cross-disciplinary research approach of Associate Professor Qiu Ling of Tsinghua University, Chief Scientific Advisor of Hi!papa.. His background includes work at the joint research platform of the Shenzhen Geim Graphene Research Center and Tsinghua University Shenzhen Research Institute, established by 2010 Nobel Prize winner André Geim. In collaboration with major consumer electronics companies, Prof. Qiu pioneered the use of modified boron nitride in mobile phone cooling systems, highlighting the potential of structural modification in light and heat management.

Drawing on graphene’s light transmission and its ability to block ultraviolet rays and harmful substances, Hi!papa’s team, led by Associate Professor Qiu Ling of Tsinghua University, Chief Scientific Advisor of Hi!papa, redefined sunscreen design to create a Chinese Invisible Sunscreen Film. The global beauty industry takes a cautious approach to applying materials science across disciplines, but Hi!papa has broken new ground by adapting molecular structure optimization methods used in mobile phone manufacturing to skincare, achieving a breakthrough in healthy, invisible, and non-whitening sun protection.

The advanced material minimizes skin burden from sunscreen use, ushering in a new era of healthy sun protection. The Invisible Film technology reduces residue and penetration of traditional sun protection, while delivering comprehensive defense for skin health. By using structural modification and metal doping to reconstruct two-dimensional lamellar titanium dioxide, the team has broken through an almost 20-year technological bottleneck.

Over the past two decades, few advances in sunscreen have been recognized as true technological breakthroughs by leading academic journals. Most claimed improvements focus on adjusting particle size, adding moisturizers, or combining physical and chemical sunscreen. By contrast, Hi!papa’s innovative Invisible Sunscreen Film technology achieves fundamental progress at the materials level, paving the way for safer, more effective products and setting a new benchmark for the industry.

Founder and CEO, Xu Yujiangsheng, commented: “This achievement not only advances sunscreen technology through the tremendous potential of cross-disciplinary research, but also represents a meaningful contribution from a Chinese brand to global skincare innovation. Hi!papa will remain research-driven, bringing safer and more scientifically grounded skincare to new generations worldwide.”

About Hi!papa

Backed by LVMH-affiliated investment, Hi!papa is a leading scientific and functional skincare brand for kids. It independently established the Xihe Laboratory, China’s first research center dedicated to children and teen’s skincare, and has collaborated with leading experts including teams from Tsinghua University. In just four years, the brand has grown to a billion-yuan scale and now holds 60 patents and 29 special sunscreen certifications. According to Euromonitor International, Hi!papa is ranked as Asia’s No. 1 baby and child sunscreen brand, maintaining the top spot for four consecutive years, underscoring its global recognition for innovation and growth potential, underscoring its global recognition of innovation and growth potential.

Coventry Responds to Lapetus’s Secrecy Claim

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Urges transparency on life expectancy accuracy

Following Lapetus’s imminent closure, argues elimination of any claim to trade secret protection

TALLAHASSEE, Fla., Aug. 28, 2025 /PRNewswire/ — Coventry First LLC (“Coventry”), the market leader in life settlements, this week filed a legal response opposing Lapetus Solutions, Inc.’s (“Lapetus”) attempt to block disclosure of statutorily required life expectancy audit reports. The filing underscores Coventry’s long-held view that the integrity of the life settlement market demands transparency around the accuracy of life expectancy estimates. At the same time, Coventry filed its own motion for summary judgment, arguing that Lapetus’s announced shutdown on August 31, 2025, should eliminate any claim to trade secret protection.

Florida law requires life expectancy providers to submit triennial life expectancy audit reports to Florida’s Office of Insurance Regulation (“OIR”) for the five calendar years preceding each audit. Because these reports measure the accuracy of prior predictions and do not contain the proprietary methods used to generate such predictions, Coventry argues that they are not entitled to trade secret protection. In addition, Lapetus itself has repeatedly publicized its reported “accuracy” in marketing materials, public statements, and direct communications with Coventry. For these reasons, Coventry contends that a ruling in Lapetus’s favor is inappropriate and should be denied.

“Investors and regulators alike need confidence that life expectancy estimates are accurate, reliable, and compliant with actuarial standards,” said Alan H. Buerger, Coventry’s Executive Chairman. “Transparency protects investors and the integrity of the entire life settlement market. As the creator of the secondary market for life insurance, we maintain our commitment to advocating for consumer rights and are active in promoting rigorous industry regulations, as demonstrated by our response to Lapetus’s claim.”

Lapetus’s Imminent Closure Should Make Trade Secret Claims Moot

In an email dated August 18, 2025, Lapetus CEO, Co-Founder and Chief Scientist S. Jay Olshansky, Ph.D. confirmed that the company will be “shutting the doors to all of its business lines on the 31st of August.” After that date, Coventry argues that the audit results will not meet the statutory definition of trade secrets because they will not be used “in the operation of a business” or to confer any competitive advantage.

Accordingly, Coventry asserts that it is entitled to summary judgment requiring disclosure of the audit results.

Importance of Accurate Life Expectancies  

The stakes extend beyond this litigation. Life expectancies are the linchpin of life settlement valuations. If estimates are routinely too short, the resulting distortions could mislead investors, cause substantial losses, and erode confidence in the market. As Coventry Executive Chairman Alan H. Buerger declared in support of the motion, independent academic review shows Lapetus’s life expectancies were shorter in more than 80% of tested cases compared to peers, with an actual-to-expected ratio of just 31%, far short of the 96.3% accuracy rate claimed by Lapetus.

Florida regulators previously recognized this danger after the $800 million Mutual Benefits fraud, where chronically short life expectancies fueled one of the largest Ponzi schemes in state history. As a consequence of Mutual Benefits, the Legislature mandated that life expectancy providers be registered with the OIR and file regular audit reports.

About Coventry

Coventry is the leader and creator of the secondary market for life insurance. For more than 20 years, we have been driving the industry forward and expanding opportunities for life insurance policyowners. Coventry’s deep experience combined with a fierce commitment to consumer rights makes Coventry the clear market leader, a position we use to raise industry standards and expand consumer choice. To date, we have delivered more than $6 billion to policyowners who no longer have a need for their policies. To learn more about Coventry, please visit Coventry.com.

Prosek Partners for Coventry
Andrew Merrill / Kiki Tarkhan
Pro-Coventry@prosek.com

SANY Reports Strong First Half 2025 Results, Delivering Profitable Growth

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Revenue Up 15% to $6.24 Billion; Operating Cash Flow Up 20% to $1.42 Billion

SHANGHAI, Aug. 28, 2025 /PRNewswire/ — On August 21, SANY Heavy Industry released its interim results for the first half of 2025. The company executed on its strategy of globalization, digitalization, and decarbonization, achieving balanced growth across scale, expansion, and profitability through continued product innovation and disciplined operations. Revenue reached $6.24 billion, a year-on-year increase of 14.96%; net income attributable to shareholders was $0.73 billion, up 46.00%; operating cash flow was $1.42 billion, an increase of 20.11%. Net income margin rebounded to 11.65%, up 2.50 p.p. compared to the same period last year. As of June 30, 2025, total assets stood at $21.54 billion, while net equity attributable to shareholders reached $10.30 billion.

SANY Reports Strong First Half 2025 Results, Delivering Profitable Growth
SANY Reports Strong First Half 2025 Results, Delivering Profitable Growth

Global Expansion and Continued Progress in Sustainability

In the first half of 2025, international revenue from the company’s core businesses reached $3.69 billion, up 11.72%, accounting for 60.26% of total revenue. Sales in the Asia–Australia region rose 16.3% to $1.606 billion; Europe contributed $0.863 billion, up 0.66%; the Americas generated $0.71 billion, an increase of 1.36%; and Africa saw strong growth with revenue surging 40.48% to $0.509 billion. 

Benefiting from factors such as a more optimized product structure, SANY’s gross margin on international business reached 31.18% in the first half of 2025, an increase of 1.04 p.p. 

The company also accelerated its renewable energy initiatives, launching over 30 environmentally responsible products during the period and securing 30 authorized low-carbon patents on core components. The service life of reinforced slewing reducers GS23 and GS27 surpassed 15,000 hours. The successful introduction of the 100-ton excavator slewing reducer addressed a technology gap in the ultra-durable excavator reducer segment. 

Strengthening Core Businesses and R&D

SANY reported excavating machinery revenue of $2.45 billion, up 15.00% year-on-year. Revenue from concrete machinery reached $1.04 billion, down 6.49%, while hoisting machinery rose 17.89% to $1.09 billion. Piling machinery revenue increased 15.05% to $0.19 billion, and road machinery revenue surged 36.83% to $0.3 billion.

During the period, the company invested $0.3 billion in R&D and filed 246 patent applications (excluding software copyrights), of which 131 were invention patents.

Looking ahead, the company will continue to invest in innovation and modernizing operations, building a more resilient, competitive industry ecosystem while delivering sustainable growth and long-term value for shareholders. 

 

 

EPWK Launches International Platform, Aims to Bridge Global Markets for Creative Services

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XIAMEN, China, Aug. 28, 2025 /PRNewswire/ — EPWK (NASDAQ: EPWK), a Xiamen-based online marketplace for creative services, has launched its international platform at intl.epwk.com, positioning itself as a global gateway for digital service outsourcing. The company specializes in connecting SMEs with freelance talent across diverse fields including design, software development, AI, content, and marketing.

Strong Market Position Backed by Scale and Data

EPWK operates in a high-potential sector driven by three key forces: first, the global creative services market is expanding, with growing demand for flexible and efficient digital solutions as businesses accelerate their shift online. Second, AI is reshaping content production—technologies like AIGC (AI-Generated Content) are lowering entry barriers and boosting productivity. EPWK’s “AI Assistant” is built to leverage this shift. Third, China offers a large pool of skilled, cost-effective creative talent, giving EPWK a competitive edge in serving global demand.

According to Frost & Sullivan’s 2023 report on China’s crowdsourcing sector, EPWK ranks among the top platforms by gross merchandise value (GMV). The platform processed $350 million in GMV in 2023, placing it second nationwide. As of June 2024, EPWK has over 25.6 million registered users across 2,800+ regions, with a cumulative GMV exceeding $1.67 billion and over 4.6 million projects completed.

Behind EPWK’s growth metrics is a long-standing focus on service quality and user experience. The platform enforces strict vetting and reputation systems to ensure provider reliability and professional standards. A robust transaction framework protects both parties’ rights, promoting a fair, transparent, and secure environment. This consistent emphasis on trust and quality has earned EPWK a strong reputation across the industry.

EPWK is certified as a national high-tech enterprise in China, and has contributed to national tech initiatives and policy frameworks. It led the development of China’s first industry standard for creative skill-sharing platforms.

AI-Powered Service Matching and Workflow Tools

Since its founding, EPWK has consistently invested in R&D to build a service infrastructure powered by big data and AI. Its proprietary task recommendation engine uses deep learning to analyse user behaviour, skill tags, and task requirements, enabling highly accurate matching between clients and service providers. This system significantly reduces the time and effort needed to find the right partner, improving transaction success rates and user satisfaction.

The platform supports over 300 service categories across design, development, AI, marketing, video, and copywriting—catering to the diverse needs of SMEs. From logo and animation design to web and software development, from industrial and interior design to branding, copywriting, and trademark registration, EPWK offers a full range of creative services through a single, integrated platform.

The company also rolled out “EPWK AI Assistant,” built on DeepSeek’s LLM, which automates demand analysis, task publishing, and progress tracking. It can interpret large volumes of task data to extract implicit priorities, helping reduce friction between parties.

Coming features include a smart pricing tool that evaluates project complexity, historical behaviour, and market rates to suggest budgets and fees—improving quote accuracy on both sides.

According to founder and CEO Huang Guohua, EPWK will double down on its core operations while expanding AI integration. This includes enhancing the “EPWK AI Assistant” to improve task matching, streamline user experience, and explore applications in AIGC-driven content generation. The aim is to build defensible technology infrastructure that boosts platform efficiency, user retention, and transaction volume.

The company also plans to expand into higher-value services beyond design and development—such as marketing, AI solutions, and full-cycle brand management. These verticals are expected to drive up average transaction value and profit margins, helping to diversify and strengthen the company’s revenue model.

Global Rollout Targets Southeast Asia, Japan, and the West

With the launch of its international version, EPWK is officially scaling its cross-border infrastructure. The company—among the first Chinese creative platforms to list in the US via a VIE structure—aims to tap overseas creative labor pools while helping Chinese SMEs expand internationally.

Global expansion has become a strategic priority for EPWK following its listing on Nasdaq. The company plans to localise operations in key growth markets—particularly Europe, North America, and Southeast Asia—by offering multilingual support and region-specific services. The goal is to tap into strong demand for creative services, build new growth channels, and strengthen the company’s brand presence abroad.

EPWK is also focused on building a global network by partnering with local businesses and institutions to attract international buyers and sellers. This approach aims to accelerate market integration and expand the platform’s ecosystem.

Ultimately, EPWK positions itself as a global engine linking creative talent with business demand—an AI-powered marketplace for digital services, mirroring what Alibaba built for physical goods.

Frost & Sullivan estimates that China’s creative crowdsourcing market could reach $24.3 billion by 2028. With scale, tech infrastructure, and international momentum, EPWK is positioning itself to lead that transformation.

Looking Ahead: Building a Global Creative Services Ecosystem

According to Frost & Sullivan, China’s creative crowdsourcing market is projected to reach $24.3 billion by 2028. With its strong market position, solid technical foundation, and expanding international footprint, EPWK aims to further optimise its platform capabilities and user experience, while strengthening IP protection mechanisms. The company’s long-term goal is to provide SMEs, creative professionals, and global buyers with a reliable and efficient service infrastructure—bringing China’s crowdsourcing model to the global stage and establishing a creative services marketplace with international influence.

CEO Huang Guohua notes that EPWK will continue to drive innovation through data and emerging technologies. By leveraging platform data to fine-tune its algorithms, the company intends to deliver more accurate task matching and market trend predictions, increasing matching efficiency and extracting greater value from its data assets. EPWK is also exploring blockchain applications for transaction security and copyright verification, and investigating virtual workspaces in the metaverse as future service environments.

To reinforce its ecosystem, the company plans to activate stronger network effects through incentive policies and high-quality service delivery—attracting more buyers and sellers and amplifying its two-sided marketplace dynamics. In parallel, it will roll out value-added services such as skills training and SaaS tools for service providers, boosting retention and unlocking new revenue streams.

EPWK also positions social responsibility as part of its long-term strategy. By providing technical support and connecting resources, the company aims to help SMEs undergo digital transformation and contribute to the broader growth of the creative economy. Through its global platform, EPWK seeks to connect creative talent across borders and deliver greater value to users worldwide.

About EPWK:

EPWK is operated by Xiamen EPWK Network Technology Co., Ltd., a national high-tech enterprise in China and a Nasdaq-listed company (EPWK) as of February 6, 2025. It has 179 tech achievements (including 137 software copyrights) and 17 patent applications (9 granted). The company is recognized as a leader in digital crowdsourcing infrastructure and a key player in China’s creative economy.

As the first China-based digital creative services marketplace to go public in the U.S., EPWK is widely regarded as the country’s pioneering crowdsourcing platform. Looking ahead, the company plans to evolve beyond a transactional marketplace into a monetisation-driven ecosystem—enabling users not just to connect, but to convert skills and creativity into scalable value.

EPWK envisions a global creative value chain that spans design, production, and distribution. The long-term strategy is to build a hybrid platform that integrates virtual services with physical products, bridges online and offline workflows, and links domestic demand with international markets. By combining platform economics with ecosystem incubation, EPWK aims to establish itself as a next-generation internet enterprise—one that not only facilitates transactions but actively drives value creation across the creative economy.

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