JINCHANG, China, Aug. 28, 2025 /PRNewswire/ — Recently, Shi Weilong and Liu Xuebin, staff members of State Grid Jinchang Power Supply Company, visited Jinchang Baye Hengtong Concrete Co., Ltd. to conduct electrical equipment inspection and energy efficiency diagnosis services. They thoughtfully reminded the enterprise manager: “Please check the distribution room regularly and pay close attention to the transformer operating status. Feel free to contact us with any electricity usage issues.”

Sun Jun, General Manager of Jinchang Baye Hengtong Concrete Co., Ltd., said that he now checks the enterprise’s electricity consumption analysis on the “State Grid Online” app every day. “Look at this electricity cost trend chart,” he said with a smile. “The average monthly electricity bill is now over 10,000 yuan less than before! The service from the power supply company truly hits the mark for us.”

When Shi Weilong and Liu Xuebin first visited in late autumn last year, Sun Jun was puzzled over a stack of electricity bills. The bills showed a “power factor of 0.75,” indicating inefficient electricity usage that incurred high monthly penalty fees, yet the equipment seemed to be running normally, and the root cause remained elusive.

Instead of jumping to conclusions, Liu Xuebin went directly to the production workshop and used an infrared thermometer to scan each motor one by one. Subsequently, with the cooperation of the plant electrician, they entered the distribution room for a detailed inspection. The diagnosis revealed severe oxidation of the capacitor cabinet contactor points, causing slow response, excessive no-load current in three motors, and the capacitor capacity had nearly halved. Liu Xuebin explained vividly: “The equipment’s electricity consumption fluctuates greatly, and the capacitor cabinet can’t adjust in time, just like a person breathing unevenly—it’s inevitably more strenuous.”

The next day, Shi Weilong and Liu Xuebin returned with a transformation plan. Addressing the enterprise’s concerns about affecting production, they clearly stated: “We will work during nighttime production breaks, running wiring during the day and replacing the cabinet after midnight, ensuring no disruption to normal production.” The capacitor cabinet upgrade was completed smoothly in just three days.

A month later, the electricity bill showed the power factor had improved to 0.98, reducing electricity costs by 18,000 yuan compared to the previous period. The company accountant excitedly ran into the workshop with the bill to share the news. Sun Jun repeatedly verified the data and exclaimed happily: “What we save is what we earn! The power supply company are truly our ‘Electricity Stewards’!”

This initiative is a snapshot of State Grid Jinchang Power Supply Company’s ongoing efforts to optimize the power business environment and promote service quality and efficiency. By offering proactive visits, energy efficiency diagnoses, and technical upgrades, the company helps enterprises reduce costs and increase efficiency, providing robust support for high-quality electricity usage.

URUMQI, China, Aug. 28, 2025 /PRNewswire/ — On August 27, State Grid Xinjiang Electric Power Co., Ltd. successfully launched the intelligent auxiliary scene application for substation maintenance operations. This initiative marked the first-time realization of intelligent support throughout the entire maintenance process, significantly enhancing the efficiency and quality of frontline operations. This innovation effectively addresses the limitations of the traditional maintenance model in terms of efficiency and quality, and facilitates the transition of substation maintenance from an “experience-driven” approach to a “data- and intelligence-driven” methodology, thereby providing robust support for the intelligent transformation of power grid equipment management.

With the continuous expansion of the power grid equipment scale in Xinjiang, the workload associated with daily operations—including substation maintenance, inspections, and testing—has increased significantly. To meet the evolving management requirements of power grid equipment and accelerate the development of the new power system, State Grid Xinjiang Electric Power Co., Ltd. proactively undertook the “Intelligent Assistance for On-site Operations” special pilot tasks under the State Grid Artificial Intelligence initiative. The company established a dedicated team comprising business experts, artificial intelligence specialists, and resource support personnel, and implemented a closed-loop management mechanism based on monthly planning, weekly control, and daily consultation. Additionally, a systematic workflow was developed, encompassing expert database construction, intelligent agent orchestration, functional verification, and iterative upgrades.

Leveraging the PMS3.0 system and the Guangming large-scale AI model, the company successfully developed five intelligent entities: power outage planning, maintenance schemes, work ticket generation, operation card assistance, and test data analysis. These entities enable intelligent support across the entire maintenance business chain, ensuring accurate planning, comprehensive defect and hazard management, precise identification of safety risks, standardized process control, and thorough equipment evaluation.

To further enhance the intelligence and practical effectiveness of the application, State Grid Xinjiang Electric Power Co., Ltd. conducted on-site investigations to identify areas for improvement, continuously refined system functionalities, and provided frontline staff with digital empowerment tools to improve operational efficiency. Since the application’s launch across three pilot units—State Grid Xinjiang Electric Power Co., Ltd. Ultra High Voltage Branch, State Grid Xinjiang Electric Power Co., Ltd. Changji Power Supply Company, and State Grid Xinjiang Electric Power Co., Ltd. Hami Power Supply Company—a total of 3,082 tasks have been completed, 162 issues have been identified and resolved, and the system has undergone four rounds of iteration and optimization. Following a comprehensive evaluation, the intelligent auxiliary application has demonstrated significant performance improvements since its deployment. The time required for document preparation has been reduced by more than 50%, while the accuracy rate of content generation has exceeded 90%, resulting in substantial improvements in both safety and efficiency.

Looking ahead, State Grid Xinjiang Electric Power Co., Ltd. will continue to explore new application scenarios, enhance intelligent support capabilities, and establish exemplary use cases that are both user-friendly and widely adopted, with the ultimate goal of achieving continuous quality and efficiency improvements.

Profit Doubled to HK$59 million
Wins First Marine Cleansing Contract
Business Footprint Continues to Expand

HONG KONG, Aug. 28, 2025 /PRNewswire/ — Baguio Green Group Limited (”Baguio” or the ”Group”, Stock Code: 01397.HK) is pleased to announce its unaudited interim results for the six months ended 30 June 2025 (the “Period”).

During the Period, the Group’s revenue amounted to approximately HK$1,353.5 million, representing an increase of approximately 4.8% as compared to the same period last year. The overall gross profit margin increased from 7.5% for the same period last year to 9.8%, driving the overall gross profit up by approximately 37.0% to approximately HK$133.0 million. Profit for the Period amounted to approximately HK$58.8 million, representing an increase of approximately 128.1% as compared to the same period last year.

Business Overview and Prospects

The Group’s core business, cleaning services, recorded growth during the Period. Revenue from cleaning services increased by 4.0% to approximately HK$1,076.5 million, accounting for approximately 79.6% of the Group’s total revenue. Gross profit margin of the cleaning business increased from 6.4% for the same period last year to 7.9%, driving the gross profit up by 27.4% to approximately HK$84.7 million, mainly due to the Group’s new cleaning service contracts with various Government departments and different institutions. The Group’s cleaning services cover various scenarios, including Government streets, markets, leisure venues, hospitals and clinics. Other cleaning sites cover numerous different places such as universities, large exhibition centers, Hong Kong International Airport, housing estates and private institutions.

Waste management and recycling business recorded revenue of approximately HK$145.3 million, accounting for approximately 10.7% of the Group’s total revenue. The gross profit margin of the waste management and recycling business surged significantly from 12.9% for the same period last year to 19.2%, driving the gross profit of this business up by approximately 46.6% to approximately HK$28.1 million, mainly due to the Government’s proactive promotion of recycling and the substantial expansion of the network of recycling spots, including those for food waste, which facilitated public participation and effectively stimulated collection, and the contribution from the green technology business. The Group continued to provide Government-related waste collection services for five districts, serving a population of approximately 1.6 million. In terms of recycling, the Group is contracted by the EPD of the Government to provide collection services for thousands of recycling spots (including plastics, glass bottles, metals, waste paper and food waste) across Hong Kong. During the Period, the Group provided collection services for recycling bins in public places and schools. Baguio also provides collection services for Recycling Stations of “GREEN@COMMUNITY”, introduced by the EPD, recycling stores and smart recycling machines, and other institutions in Hong Kong. In addition, the Group also provides the Government with glass bottles collection and management services and food waste collection services in several districts in Hong Kong, and is one of the market leaders.

Regarding green technology business, the Group won a new contract to supply the Government with a new generation of solar-powered compacting refuse bins. This innovative product is designed with an auto-sensing inlet and indicator lights, and under its sealed design, it is equipped with devices for ventilation, lighting, and deodorization. Meanwhile, it is equipped with a big data platform and wireless technology to monitor data in real time, enabling effective tracking of the status of waste collection points, strategic deployment of resources, optimization of operational efficiency, and enhanced planning for future initiatives. Furthermore, the solar-powered compacting refuse bins adopt solar panels and rely on renewable energy, which significantly reduces carbon emissions. They can be flexibly deployed in various scenarios, suitable for remote areas where there are no refuse collection points. This product is expected to be gradually launched into the market in the year.

The Group seized the opportunity of smart city development and has been committed to expanding its market share of smart recycling in recent years. Currently, Baguio’s smart recycling products, such as smart recycling machines, smart food waste recycling machines, and smart balances, have been deployed in different places across Hong Kong, including Government venues and schools, private housing estates, commercial buildings, theme parks, large-scale exhibition venues, and sports stadiums. These products provide the public with convenient recycling services 24 hours a day and help increase Hong Kong’s overall recycling volume.

In partnership with Jardine Engineering Corporation Limited, the Pilot Biochar Production Plant at the EcoPark in Tuen Mun has commenced operation. By converting yard waste into high-quality biochar with pyrolysis technology for various applications, the production plant effectively “turns waste into useful resources”.

As for the landscaping business, the Group provides landscaping services for a wide range of clients, including large private residences, Government premises, schools, shopping malls, hotels, airports, Hong Kong Housing Authority, Hong Kong Jockey Club, Hong Kong Science Park, the University of Hong Kong, Hong Kong University of Science and Technology and Lingnan University, etc. During the Period, the Group provided landscaping services for Kai Tak Sports Park, Hong Kong International Airport, Hong Kong-Shenzhen Innovation and Technology Park, Nano Parks, and the Tung Chung New Town Extension (West).

For pest management business, the Group continued to provide pest management services in Wong Tai Sin and Tai Po districts during the Period. In addition, the Group provided termite control and monitoring services to 29 monuments under the Antiquities and Monuments Office and 24 temples under the Chinese Temples Committee respectively.

As of 30 June 2025, the Group’s contracts on hand amounted to approximately HK$3.10 billion, providing considerable revenue for subsequent years.

Subsequent to the Reporting Period, the Group has been successfully awarded a 3-year contract from the Marine Department of the Government for approximately HK$150 million for the provision of “Marine Refuse Cleansing and Disposal Services in the Eastern Waters of Hong Kong“. This contract marks a significant milestone for Baguio, as it represents a strategic expansion of its service portfolio from land to sea, further strengthening its leading position in Hong Kong’s integrated environmental services market. Under the contract, Baguio will deliver comprehensive marine refuse cleansing and ship refuse collection services in the Eastern Waters of Hong Kong starting from 1 October 2025 including, but not limited to: Victoria Harbour, Central, Sheung Wan, Causeway Bay, Tsim Sha Tsui, Yau Ma Tei, Cheung Sha Wan, Shau Kei Wan, Kwun Tong, Sai Kung, Tolo Harbour and Tai Po. Winning this contract signifies strong market recognition of Baguio’s outstanding performance over the past 45 years. The Group will seamlessly extend its professional standards and operational efficiency in land-based waste management to the marine environment, striving to safeguard Hong Kong’s valuable marine ecosystem and present a cleaner, more beautiful Victoria Harbour to both residents and tourists.

Recently, the Group has been successfully awarded two 35-month contracts from the EPD, with a total value of approximately HK$43 million. Starting from September 2025, the Group will be responsible for operating the “GREEN@Tai Wo” and “GREEN@Po Lam” recycling stores, and will collaborate with nearby buildings, organizations, and community stakeholders to establish and operate fixed and mobile recycling spots for waste collection, provide community recycling support to facilitate citizens, and promote and educate the public on waste sorting and recycling in the community to strengthen citizens’ recycling habits.

In addition, the Promotion of Recycling and Proper Disposal of Products (Miscellaneous Amendments) Bill 2025 submitted by the Government was passed by the Legislative Council on 23 July 2025. This bill establishes a common legal framework for producer responsibility scheme applicable to different products. Under this framework, the Government plans to submit the producer responsibility scheme on plastic beverage containers and beverage cartons in the coming year. The scheme encourages citizens to return used containers for recycling to earn rebate, which will help significantly increase the recycling rate. Benefiting from the scheme, Baguio’s recycling volume is expected to be directly driven up, providing attractive returns for the Group’s long-term investments in recycling services and competitive barriers.

The Government is actively developing the Northern Metropolis. Four new development areas include Kwu Tung North/Fanling North, Hung Shui Kiu/Ha Tsuen, Yuen Long South, and San Tin Technopole are under construction. The Government has resumed more than 400 hectares of private land within these four new development areas, completed land levelling for 80 hectares, and is progressively handing over these lands to relevant departments for building road and railway infrastructure, public and private housing, schools, public markets, ecological conservation, as well as development of innovation and technology industry. The Group believes that this will bring opportunities for many of its core businesses.

Looking forward, the Group will continue to increase the market share of its core businesses and proactively engage in expansion in Hong Kong and beyond. Meanwhile, in line with the development of the Company, it will actively explore potential mergers and acquisitions, joint ventures or new business projects to accelerate future business growth and deliver substantial and long-term returns to shareholders.

For details of the Group’s 2025 interim results announcement, please visit the following website:
https://www.baguio.com.hk/en/investor/notices/ 

– End-

About Baguio Green Group

Established in 1980, Baguio Green Group (Stock code: 01397.HK) is one of Hong Kong’s largest integrated environmental management solution providers. It provides a full spectrum of professional services including professional cleaning, waste collection & recycling, waste management, green technology, green products, horticulture & landscaping, and pest control. The Group delivers innovative environmental solutions using the latest technologies to serve a wide range of customers in various sectors including Government departments, statutory organizations and multinational corporations. Fully committed to ESG, the Group works relentlessly to advance sustainable development and create a cleaner, greener, healthier city for a greener tomorrow.

BEIJING, Aug. 28, 2025 /PRNewswire/ — LakeShore Biopharma Co., Ltd (Nasdaq: LSB) (“LakeShore Biopharma” or the “Company”), a global biopharmaceutical company dedicated to discovering, developing, manufacturing, and delivering new generations of vaccines and therapeutic biologics for infectious diseases and cancer, today announced that its board of directors (the “Board”) has received a revised preliminary non-binding proposal letter (the “Revised Proposal Letter”), dated August 26, 2025, from a consortium (the “Consortium”) comprised of Oceanpine Investment Fund II LP and Oceanpine Capital Inc. (together, “Oceanpine Capital”), and Crystal Peak Investment Inc. to acquire all of the outstanding ordinary shares, par value US$0.0002 per share, of the Company (the “Ordinary Shares”) that are not currently owned by the Consortium in an all-cash transaction for US$0.86 per Ordinary Share, which remains unchanged from the original proposal (the “Proposed Transaction”).

This Revised Proposal Letter revises the preliminary non-binding proposal letter dated August 18, 2025, previously received from Oceanpine Capital. A copy of the Revised Proposal Letter is attached hereto as Exhibit A.

According to the Revised Proposal Letter, the members of the Consortium, who currently beneficially own in aggregate approximately 52.1% of the Company’s issued and outstanding Ordinary Shares, have entered into a consortium agreement and have agreed to vote all of their shares in favor of the Proposed Transaction. They also do not intend to sell their shares to any third party or support any competing bid while remaining members of the Consortium.

The Company today also announced that the Board has formed a special committee consisting of its three independent directors, Adam Zhao, Thomas Xue and Chunyang Shao, to evaluate and consider the Revised Proposal Letter and the Proposed Transaction. Mr. Adam Zhao will chair the special committee.

The Company cautions its shareholders and others considering trading in its securities that the Board has just received the Revised Proposal Letter and has not made any decisions with respect to the Company’s response to the proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed, or that the Proposed Transaction or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.

About LakeShore Biopharma

LakeShore Biopharma, previously known as YS Biopharma, is a global biopharmaceutical company dedicated to discovering, developing, manufacturing, and delivering new generations of vaccines and therapeutic biologics for infectious diseases and cancer. It has developed a proprietary PIKA^® immunomodulating technology platform and a new generation of preventive and therapeutic biologics targeting Rabies, Hepatitis B, Influenza, and other virus infections. The Company operates in China, Singapore, and the Philippines, and is led by a management team that combines rich local expertise and global experience in the biopharmaceutical industry. For more information, please visit please visit https://investors.lakeshorebio.com/.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding the Board’s evaluation of the Proposal Letter and the Proposed Transaction. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “potential,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “goal,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether identified in this press release, and on the current expectations of LakeShore Biopharma’s management and are not predictions of actual performance.

LakeShore Biopharma cannot assure you the forward-looking statements in this press release will be accurate. These forward-looking statements are subject to a number of risks and uncertainties, including those included under the heading “Risk Factors” in the Company’s Annual Report on Form 20-F filed with the Securities and Exchange Commission, or SEC, and other risks described in documents subsequently filed by the Company from time to time with the SEC. There may be additional risks that LakeShore Biopharma does not presently know or that LakeShore Biopharma currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements in this press release represent the views of LakeShore Biopharma as of the date of this press release. Subsequent events and developments may cause those views to change. However, while LakeShore Biopharma may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of LakeShore Biopharma as of any date subsequent to the date of this press release. Except as may be required by law, LakeShore Biopharma does not undertake any duty to update these forward-looking statements.

Exhibit A

Revised Non-Binding Proposal

August 26, 2025

The Board of Directors (the “Board“)
LakeShore Biopharma Co., Ltd
Building No. 2, 38 Yongda Road
Daxing Biomedical Industry Park
Daxing District, Beijing, 102629
People’s Republic of China

Dear members of the Board:

On August 18, 2025, Oceanpine Investment Fund II LP and Oceanpine Capital Inc. (collectively, “Oceanpine Capital“) made a preliminary non-binding proposal (the “Original Proposal“) to acquire all outstanding ordinary shares of a par value of US$0.0002 each (the “Ordinary Shares“) of LakeShore Biopharma Co., Ltd (the “Company“) not owned by them, in an all cash transaction.

We are pleased to submit this revised proposal (the “Revised Proposal“) to inform the Board that (i) Oceanpine Investment Fund II LP; (ii) Oceanpine Capital Inc.; and (iii) Crystal Peak Investment Inc. (collectively, “we“, “our” or “us“) have formed a buyer consortium (the “Consortium“) and, as the initial members of the Consortium, have agreed to work exclusively with each other to acquire all outstanding Ordinary Shares of the Company not owned by us, in an all cash transaction (the “Proposed Transaction“).

We currently own in aggregate approximately 52.1% of all the issued and outstanding Ordinary Shares of the Company, representing the same percentage of the aggregate voting power of the Company. We agree that the Board should form a special committee of independent and disinterested directors (the “Special Committee“) to consider our Revised Proposal and make a recommendation to the Board. We further agree that the Special Committee shall retain its own independent legal and financial advisors to assist in its review of our Proposed Transaction.

None of the Company’s directors who are affiliated with us will participate in the evaluation of our Revised Proposal by the Company, the Special Committee or Special Committee’s advisors.

Except as otherwise stated herein, we confirm that all of the key terms as set forth in the Original Proposal remain unchanged. We intend to fund the Proposed Transaction with equity capital from us in the form of rollover equity in the Company and cash contribution by Oceanpine Capital or its affiliates. Accordingly, our Proposed Transaction would not be subject to any uncertainty or delay with respect to any debt financing nor a financing condition. 

In considering our Revised Proposal, you should be aware that we, as the initial members of the Consortium, have entered into a consortium agreement dated as of the date hereof, pursuant to which we have agreed to vote all of the Ordinary Shares of the Company beneficially owned by us in favor of the Proposed Transaction and do not intend to sell our Ordinary Shares of the Company to any third party or support any competing bid to our Revised Proposal while remaining as members of the Consortium.

Given our knowledge of the Company, we remain committed to completing the Proposed Transaction in an expedited manner by promptly engaging in discussions with the Special Committee and its advisors to negotiate and finalize the definitive documentation relating to the Proposed Transaction, so as to expedite the process of delivering value to the Company’s shareholders.

Due to our obligations under the securities laws, we intend to timely file one or more Schedule 13D or Schedule 13D amendment(s) with the Securities and Exchange Commission to disclose this Revised Proposal. However, we are sure that you will agree with us that it is in all of our interests to ensure that we otherwise proceed in a strictly confidential manner, unless otherwise required by law, until we have executed definitive documentation relating to the Proposed Transaction or terminated our discussions.

This letter constitutes only a preliminary indication of our interest and does not constitute any binding commitment with respect to the transactions proposed in this letter or any other transaction. No agreement, arrangement or understanding between us and the Company relating to any transaction will be created until such time as definitive documentation has been executed and delivered by us and the Company and all other appropriate parties.

We look forward to hearing from you and working expeditiously with you towards the completion of a successful transaction.

Sincerely,

Oceanpine Investment Fund II LP

Oceanpine Capital Inc.

Crystal Peak Investment Inc.