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Ace Green Recycling Secures Agreement with OM Commodities to Supply Flagship Texas Facility

 OM Commodities to supply Ace with at least 30,000 metric tons of lead annually, which the Company will recycle using its fully electrified process that produces zero Scope 1 emissions

Ace advances plans to become a public company in the U.S. with the filing of its Form S-4 with the SEC

HOUSTON, April 30, 2025 /PRNewswire/ — Ace Green Recycling, Inc. (“Ace” or the “Company”), a leading provider of sustainable battery recycling technology solutions, today announced that it has secured a battery material supply agreement with OM Commodities, a leading global commodities trading firm that specializes in trading ferrous and non-ferrous scrap, primary metals and residues.

Lead Ingots
Lead Ingots

As part of the agreement, OM Commodities will supply Ace with at least 30,000 metric tons of lead scrap annually, which the Company expects to recycle at its planned flagship facility in Texas with production expected to commence in 2026. The level of feedstock is sufficient to cover 100% of Ace’s phase one recycling capacity at its future Texas facility. The agreement is for a term of at least 15 years and provides Ace with the option to obtain more supply from OM Commodities as Ace scales up its recycling operations. The Company and OM Commodities are in active discussions for future lithium battery recycling collaborations.

“Ace is a true pioneer when it comes to providing an environmentally friendly and economically superior solution to recycle valuable material from lead scrap,” Yiannis Dumas, President  of OM Commodities, said. “We look forward to supporting Ace with lead feedstock as they scale up their operations in Texas and helping create a more circular and sustainable battery materials supply chain in the U.S.”

“We believe that Ace’s future Texas facility is poised to play a key role in addressing many of the current challenges in the lead industry in the U.S., while helping the country meet the growing domestic demand for valuable battery materials,” Nishchay Chadha, CEO and Co-Founder of Ace, said. “This agreement with OM Commodities will provide us with enough supply to support our Texas facility during all of its current planned phases, enabling us to achieve optimal efficiencies as we deploy our solutions in the U.S. market. With OM Commodities being a U.S.-based leader in metals doing business across the Americas and Asia with a specialty in lead batteries, we look forward to leveraging their expertise in the space as we advance our scale-up efforts.”

With more than 1.5 million metric tons of lead battery scrap available for recycling in the U.S. alone, there is a critical gap in smelter capacity to keep valuable lead material within the domestic supply chain. Ace’s GREENLEAD® recycling technology is a fully electric process that produces zero Scope 1 emissions and is capable of recovering up to 99% of battery-grade lead with more than 99.98% purity. The Company’s process is designed to replace legacy smelting operations that are detrimental to the environment and human health due to potential lead poisoning. This innovation helps to facilitate a more streamlined permitting process.

Ace Advances Public Listing Plans

On April 29, 2025, Ace and Athena Technology Acquisition Corp. II (“ATAC II”) filed a Registration Statement on Form S-4 (the “S-4”) with the U.S. Securities and Exchange Commission (“SEC”) in connection with the companies’ previously announced business combination, pursuant to the business combination agreement that Ace and ATAC II entered into on December 4, 2024, which is expected to be completed in the second half of 2025, subject to customary closing conditions. Once completed, Ace is expected to become a public company in the U.S. with its common stock listed on the Nasdaq Stock Market LLC. The Company expects its common stock to trade under the ticker “AGXI.”

“This filing is an important step in Ace’s plans to become a public company in the U.S.,” continued Mr. Chadha. “As we continue to scale our lead and lithium battery recycling technologies to help support the markets for both internal combustion engines and electric vehicles, we expect that our upcoming listing will be a key accelerator of growth for Ace.”

Additional information about the proposed transaction, including a copy of the business combination agreement, is available in the S-4, which can be accessed at www.sec.gov.

About Ace Green Recycling

Ace Green Recycling, Inc., incorporated in Delaware, is an innovative battery recycling technology platform offering sustainable end-of-life solutions. It has deployed modular, Scope 1 carbon emissions-free recycling facilities for lithium (nickel-manganese-cobalt & lithium iron phosphate) and lead batteries used in various industries including electronics, automotive and energy storage. Ace was founded by Nishchay Chadha, Chief Executive Officer and a veteran in recycling, mining and global supply chain industries, and Dr. Vipin Tyagi, Chief Technology Officer, with extensive experience in battery materials recycling technologies. For more information, please visit www.acegreenrecycling.com.

Contacts:

Media
Media@acegreenrecycling.com

Investors
Investors@acegreenrecycling.com

Forward-Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements generally can be identified by the use of words such as “may,” “could,” “will,” “should,” “would,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “project” or “continue” or the negative of these terms or other comparable terminology. Such statements include statements regarding the intent, belief or current expectations of Ace and members of its management as well as the assumptions on which such statements are based. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties that could cause actual events or results to vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance. Forward-looking statements contained in this press release are made as of this date, and Ace undertakes no duty to update such information except as required under applicable law.

BANILA CO Dominates the Global Cleansing Balm Market, Ranked No.1 Top Selling Cleansing Balm, by Euromonitor

From K-Beauty Icon to Global Favorite: A Cleansing Balm That Sets New Global Standards

Banila Co has been named the No. 1 global cleansing balm brand, according to the research by Euromonitor International.

  • Banila Co ranked as the world’s top-selling cleansing balm brand based on 2023 global retail sales
  • Clean It Zero Cleansing Balm surpasses 90 million units sold worldwide
  • Banila Co continues to expand its cleansing balm portfolio and launches special-edition collaborations

SEOUL, South Korea, April 30, 2025 /PRNewswire/ — Makeup brand Banila Co announced that it has been named the world’s top-selling cleansing balm brand[1], based on retail sales data compiled, according to data analytics company Euromonitor International.

Banila Co Tops Global Cleansing Balm Market, according to Euromonitor International
Banila Co Tops Global Cleansing Balm Market, according to Euromonitor International

Widely recognized as the cleansing balm, Banila Co has solidified its position as a leading K-beauty brand through proprietary beauty expertise and innovative technology. According to Euromonitor, the global cleansing balm market was valued at approximately USD 1.04 billion in 2023. Banila Co accounted for 22% share of global retail value sales, reinforcing its standing as the No. 1 brand worldwide[2] in this category.

At the heart of this success is Banila Co’s flagship product, Clean It Zero Cleansing Balm, which has now sold more than 90 million units worldwide. Since its debut, Banila Co has consistently invested in research and development to enhance the product’s efficacy, with these efforts playing a significant role in strengthening the brand’s market position.

Clean It Zero Cleansing Balm is recognized for its ability to effectively remove makeup without leaving behind residue, while preserving key ingredients that nourish the skin. Its distinctive oil-balm formula melts seamlessly into the skin, delivering a gentle yet thorough deep-cleansing experience without causing irritation.

Banila Co has also expanded its product line to address a range of skin concerns. In addition to the existing Original, Pore Clarifying, Nourishing, and Calming variants, the brand recently introduced the Enriching Butter line, offering targeted cleansing solutions tailored to different skin types.

Furthermore, Banila Co has collaborated with popular characters such as Hello Kitty and My Melody to launch special-edition collections, transforming everyday cleansing into a joyful beauty ritual. Most recently, a playful partnership with The Powerpuff Girls has further strengthened Banila Co’s distinctive brand identity and signature appeal.

A Banila Co spokesperson said, “We are honored that the excellence of our long-standing bestseller, Clean It Zero Cleansing Balm, has been recognized worldwide. We will continue to strive to earn even greater trust in the global beauty market by delivering exceptional beauty products.”

[1] Source: Euromonitor International; Based on 2023 RSP Value Sales terms, Cleansing Balm sold via all retail channels (Research period: November 2024 ~ February 2025)

[2] Source Euromonitor International Limited; Based on Cleansing Balm product sold via retail in RSP value terms, 2023; Research conducted in November 2024 – February 2025.

HL Mando Recognized as 2024 Supplier of the Year by General Motors

SEOUL, South Korea and LAS VEGAS, April 30, 2025 /PRNewswire/ — On April 8, 2025, General Motors presented HL Mando with a 2024 Supplier of the Year Award at GM’s 33rd annual Supplier of the Year event in Phoenix, Arizona.

(From the left) Min-Chul Lee (Head of Production Engineering team, HL Mando America Jeff Pontius (Director of Brake R&D, HL Mando America), Alison Ellis (Director of Sales, HL Mando America) Jason (Jae-hyuk) Kim (Head of Americas Region,  HL Mando), Jeff Morrison (Global Chief Procurement Officer, GM)
(From the left) Min-Chul Lee (Head of Production Engineering team, HL Mando America Jeff Pontius (Director of Brake R&D, HL Mando America), Alison Ellis (Director of Sales, HL Mando America) Jason (Jae-hyuk) Kim (Head of Americas Region, HL Mando), Jeff Morrison (Global Chief Procurement Officer, GM)

HL Mando, HL Group’s leading Tier 1 automotive Software Defined Vehicle (SDV) company, was selected by General Motors (GM) for its 2024 Supplier of the Year (SOY) award. HL Mando has been awarded for five consecutive years and 11 times in total. On April 8, the 33rd SOY recognition event was held in Arizona, USA and attended by the Head of HL Mando Americas region Jason (Jae-hyuk) Kim, R&D Director Jeff Pontius, and Sales Director Alison Ellis. 92 companies from 12 countries were recognized as excellent partners to General Motors. Less than 1% of GM’s suppliers are awarded the SOY Award.  HL Mando was recognized in the Brake Apply & Controls category – its Motor on Caliper (MoC) product, which received the spotlight again, is manufactured at HL Mando’s Alabama plant. GM praised not only the company’s localization efforts but also its technological innovation.

HL Mando’s North American localization journey began in 1996. The corporation laid the groundwork for expansion into the North American region by establishing its first R&D center (Mando Engineering & Sales America; MESA) in  Michigan. Then, HL Mando launched its first manufacturing facility, Mando Corporation America in Alabama (MCA), and won its first SOY award in 2003. Following the completion of the Alabama plant in 2004, a second production facility was added in 2012 to meet the growing demand for casting components. This became the MCA Georgia Plant. In 2013, HL Mando expanded its R&D capabilities by establishing a second R&D center, HL Mechatronics (HM), also in Michigan. While MESA focuses on development activities up to mass production, HM specializes in future-oriented automotive technologies. HL Mando has recently invested approximately USD 700 million in its North American operations. The amount is a testament to the corporation’s commitment to the North American sector, demonstrating continued focus on cutting-edge technology.

“For more than 30 years, General Motors has recognized the company’s top global suppliers at our annual event, spotlighting their innovation and resiliency through even the most challenging circumstances,” said Jeff Morrison, global chief procurement officer at GM. “Together, we’re helping bring advanced technology and the industry’s broadest portfolio of vehicles to market for GM customers.

GM’s Supplier of the Year awards recognize global suppliers for their execution across key categories like safety, innovation and resilience. A global cross-functional team makes award selections based not only on an organization’s performance across 2024, but also their alignment to GM’s core values and ambitious goals.

Jason (Jae-hyuk) Kim, the Head of HL Mando Americas region, stated, “Our three decades of localization efforts in North America have led to strong customer satisfaction. And we look forward to shaping the future together with GM through collaboration in future mobility areas such as automotive software and autonomous driving.”

 

U POWER Tech Unveils All-Electric Vehicle Solution at ACT Expo

SHANGHAI, April 30, 2025 /PRNewswire/ — U POWER Tech, a global innovator in smart electric vehicle solutions, today showcased its complete lineup of urban logistics and specialty EV platforms at ACT Expo, North America’s largest commercial vehicle event. This showcase marks a significant milestone for U POWER Tech’s strategic expansion into North America, highlighting its groundbreaking skateboard chassis technology designed to transform the commercial vehicle sector.

At ACT Expo, U POWER Tech introduced three purpose-built products:

  • UP VAN: Engineered specifically for last-mile delivery, the UP VAN is the world’s most energy-efficient commercial Delivery Van, offering unmatched operational efficiency through longer range, reduced energy consumption, and optimized cargo space. It empowers logistics providers to drastically reduce operational costs and improve productivity in urban environments.
  • UP Chassis Cab: UP Chassis Cab allows for easy upfitting. It meets rigorous European crash standards, ensuring safety and compliance, while providing a smart, flexible solution to businesses seeking rapid electrification of their fleets.
  • UP Chassis: A highly versatile platform designed for multiple duty cycles and applications. UP Chassis meets the needs of many commercial and fleet customers, enabling fully electric, purpose-built solutions for demanding end users.

All products presented by U POWER Tech feature comprehensive electric and intelligent capabilities, offering commercial vehicle operators the industry’s most advanced and customizable electrification solutions—catering precisely to their individual requirements.

Leveraging innovation from Silicon Valley and supply-chain strength from China, U POWER Tech has built a robust global value chain covering key EV components such as batteries, motors, and controls. The company is already delivering products in North America, Europe and Africa, and the launch in ACT will further deepen its global expansion. U POWER Tech has secured substantial funding from investors including Matrix Partners, ZhenFund, and Bosch’s Boyuan Capital, affirming the commercial viability and growth potential of its technology.

ACT EXPO U POWER Tech booth
ACT EXPO U POWER Tech booth

“ACT Expo marks a key milestone for us,” said Yao, General Manager of U POWER Tech North America. “We’re committed to delivering exceptional products while working together to build a zero-carbon logistics ecosystem that makes electric mobility both accessible and efficient.”

As an industry disruptor, U POWER Tech is transforming electric vehicle development with its skateboard chassis technology. Leading the shift from traditional single-model to a shared-platform development, U POWER is redefining how commercial vehicles are built, scaled, and electrified.

About U POWER Tech

Established in 2021 in Shanghai and Silicon Valley, U POWER Tech specializes in smart EV solutions built on skateboard chassis technology, driving the automotive industry’s transition toward standardized, platform-based electric vehicles globally.

LG Innotek to build FC-BGA into 700 million USD business by 2030 with its state-of-the-art Dream Factory

SEOUL, South Korea, April 30, 2025 /PRNewswire/ — LG unveiled the Dream Factory, a hub for the production of FC-BGAs (Flip Chip Ball Grid Arrays), the company’s next-generation growth engine, to the media for the first time and announced it on the 30th April.

A process of Line Quality Control (LQC), which checks whether the product meets the specifications (thickness, size, etc.) required by the customer. The inspection result data is immediately transmitted to the customer and cannot be manipulated. This quality transparency is one of the most important factors for LG Innotek’s global clients.
A process of Line Quality Control (LQC), which checks whether the product meets the specifications (thickness, size, etc.) required by the customer. The inspection result data is immediately transmitted to the customer and cannot be manipulated. This quality transparency is one of the most important factors for LG Innotek’s global clients.

In 2022, LG Innotek announced its plans to launch a business producing FC-BGAs, high-value semiconductor substrates. To build the Dream Factory, the company acquired LG Electronics’ Gumi 4 Factory and began full-scale mass production in February 2024.

The Dream Factory, spanning a total area of 26,000 square meters, is regarded as the industry’s most advanced “smart” factory, integrating the latest IT technologies, including artificial intelligence, deep learning, robotics, and digital twin technologies. By applying automation, information, and intelligence technologies to the entire process, it has established a cutting-edge FC-BGA production infrastructure that eliminates the four major factors known to undermine production competitiveness: human error (Man), failure cost (F-cost), breakdown maintenance (BM) loss, and accidents.

  • “Elimination of defects caused by human contact” through automation of all processes and logistics using robots

For semiconductor substrate products such as FC-BGAs, which require a highly demanding ultra-fine process, even the smallest foreign objects (eyelash, saliva, etc.) can cause quality issues. Therefore, it is crucial to minimize human contact with products during production.

To this end, LG Innotek has introduced a completely automated logistics system at the Dream Factory, where coming across a person is a rare event. Apart from essential personnel, such as equipment maintenance and repair workers, all 10 steps of the FC-BGA production and logistics processes are unmanned.

Dozens of autonomous mobile robots (AMRs) move materials around the production line autonomously. When a production order is placed, which is done automatically, based on the customer’s delivery timeframe entered in the RTS (real-time schedule), the AMRs transport the raw materials to the process facility. Once the barcode on the raw material is detected, also done automatically, by the machine, the process recipe is automatically set on the equipment according to the product specifications through the recipe management system (RMS), after which the product processing begins. The AMRs are also responsible for loading the finished product back into the stocker.

In addition, the process of peeling off the protective film from the panel (film detach) is also replaced by a robot. This enables the early prevention of fine scratches and defects caused by foreign objects such as dust particles and foreign substances. The construction of non-touch production facilities, involving such equipment as collaborative robots, in the entire process has significantly reduced mishandling by workers.

  • Unmanned AI-based FC-BGA quality inspection, enhancing customer confidence by ensuring quality “transparency”

The Dream Factory generates more than 200,000 files and 100GB of data related to FC-BGA production every day. LG Innotek collects this data throughout the production process through sensors installed in all of its facilities.  By applying AI, which continuously learns from this big data, to the defect prediction and inspection system, the company has significantly reduced the lead time caused by defects.

In addition, LG Innotek has applied an AI deep learning vision inspection system to the Automated Optical Inspection (AOI) process, which is the most important step in determining whether a product is of good quality. Tirelessly, the robot moves the finished FC-BGA board products to the vision screening inspection table. Next, the AI, which has been trained on tens of thousands of data points on defective and good quality FC-BGAs, detects micro-level defects that are challenging to identify with the naked eye, and it does so in only 30 seconds.

LG Innotek is operating a further advanced AOI process. In the room next to the AOI equipment for faulty circuits, there is a much larger robot and inspection system. Called Line Quality Control (LQC), it can automatically check whether the various specifications (thickness, size, etc.) of the product requested by the customer have been fulfilled. The inspection data is immediately sent to the customer, ensuring product quality transparency, which leads to higher customer confidence. This industry-leading sophistication of LG Innotek’s AOI equipment has been cited as one of the most impressive aspects of the factory by the global customers who have visited it.

AI can identify defective products, and since every product has a barcode that tracks its process history, products that are deemed defective are automatically filtered out without the need for human intervention, reducing F-costs by more than 50%.

Additionally, AI has been applied to the digital simulation system, which prevents product defects and equipment failures. Previously, the process of workers manually checking products for defects and identifying which machines were faulty and how to repair them in response to defects required a lot of time. This can now be significantly improved.

By 2026, LG Innotek plans to introduce an intelligent Quality Management System (i-QMS) that detects and analyzes quality irregularities during production in real time and automatically corrects them. The company plans to automate the entire FC-BGA production process, especially by developing a platform that uses digital twin technology to share information on all processes, from product development to production, with customers in real time to enhance customer responsiveness.

  • Optimized FC-BGA process equipment using digital twin technology, “halving the ramp-up period”

Since even the smallest variables can lead to poor performance in FC-BGAs, equipment optimized for mass production and process recipes and production environments set to perfect values are fundamental to achieving high yields.

The FC-BGA process equipment installed in the Dream Factory is set to optimal conditions through digital twin technology. In the past, identifying optimal conditions for the FC-BGA process required a lot of time and money, along with hundreds of tests. Before building the facility, LG Innotek managed to identify problems with the initial setup of the FC-BGA process facility in advance by conducting a “factory simulation” using 3D modelling in virtual space. This enabled the facility to be carefully set for optimal conditions, such as liquid, heat, and air flow, which were difficult to measure inside the actual facility. As a result, the ramp-up period (increase in production capacity by improving initial production yields) was shortened by nearly half compared to the previous operation period.

In addition, digital twin technology is applied to the Line Monitoring System (LMS), which monitors production status in real time. The real-time monitoring system enables users to monitor the production line currently in operation, product movement, inventory status, equipment irregularities, production performance, and product quality status at a glance on the large screen of the integrated control room where the LMS is installed. This makes it possible to respond immediately in the event of any irregularity.

  • Internalization of glass core technology, step-by-step entry into the high-end FC-BGA market: “Fostering the business into 700 million USD business by 2030″

Over the past 50 years, LG Innotek has accumulated core technologies for high-value semiconductor substrates, such as ultra-fine microcircuits and high-density, multi-layer substrate matching technology (stacking multiple substrate layers accurately and evenly), through its substrate material components business.

Based on this know-how, the company began full-scale mass production of FC-BGAs for personal computers (PCs) for North American big-tech customers at the end of last year and recently succeeded in securing additional global big-tech clients. This year, LG Innotek aims to enter the FC-BGA market for PC central processing units (CPUs). Its strategy is to enter the high-end FC-BGA market in phases, including entering the server FC-BGA market as early as 2026. In preparation for this, LG Innotek has already acquired facilities that are essential in the manufacturing of FC-BGA products for servers, such as “edge coating” that blocks the generation of dust particles.

In line with this goal, LG Innotek will also accelerate the development of next-generation substrate technologies in collaboration with global big-tech clients. By 2027, the company plans to internalize technologies such as re-distribution layer (RDL) technology, which engraves microcircuit patterns directly onto the substrate; device embedding technology, which minimizes power loss by embedding devices into the substrate; and multi-layer core (MLC) and glass core (glass substrate) technologies, which prevent warping when implementing large-area substrates. In particular, LG Innotek has been promoting glass substrates by strengthening its collaboration with global customers.

Minseok Kang, vice president and head of LG Innotek’s Substrate & Material Business Unit, said, “LG Innotek will continue to expand the production of FC-BGAs that provide exceptional customer value based on its state-of-the-art Dream Factory and develop the FC-BGA business into 700 million USD business by 2030.”

According to the Fuji Chimera Research Institute, the size of the global FC-BGA market is expected to more than double from USD 8 billion in 2022 to USD 16.4 billion in 2030.

[Glossary]

FC-BGA (Flip Chip Ball Grid Array): This is a semiconductor substrate that is widely applied to electronic devices equipped with semiconductor chips (CPU, GPU, AI chips, etc.) that perform various computing functions. Demand for high-performance semiconductor substrates is growing rapidly due to increased data throughput, higher semiconductor processing speeds, and the need for low-power semiconductors. For these reasons, FC-BGAs have a larger area and more layers than conventional semiconductor substrates. They are also known to have high barriers to market entry because they require top-level facilities and technologies to produce.

Work+Store Expands Storage Solutions with Premium Wine Storage Service in Kallang Bahru


SINGAPORE – Media OutReach Newswire – 30 April 2025 – Work+Store, a leading provider of self-storage solutions in Singapore, has officially launched its premium wine storage service in response to rising demand for secure, climate-controlled storage among wine collectors, enthusiasts and merchants. Located at 202 Kallang Bahru, the facility is designed to offer optimal conditions for long-term wine preservation in a convenient central location.

Work+Store Wine Storage

The new service, which commenced in February 2025, expands Work+Store’s storage offerings to meet the lifestyle needs of a growing base of customers seeking purpose-built solutions. Over the past year, the company observed a noticeable increase in customer inquiries regarding wine storage, with more individuals and businesses in Singapore beginning to collect and store wine.

The Kallang Bahru facility offers temperature-controlled walk-in units and private lockers, maintained between 12 and 14 degrees Celsius with stable humidity levels to help preserve wine quality over time. Located on the ground floor near a loading bay, the units allow for easy transportation of wine collections in and out of storage.

Customers have 24-hour access to their units, providing flexibility to retrieve or manage their collections at their convenience. Security features include round-the-clock CCTV monitoring, PIN-code access, and individual padlocks. Insurance coverage is also included for additional peace of mind.

To mark the launch, Work+Store is offering a limited-time promotion of three months plus 35 percent off wine locker rentals for new customers.

The decision to introduce premium wine storage was guided by customer insights and industry observations. As interest in wine grows, more collectors are exploring ways to expand their storage options beyond their homes.

“In the last couple of years, I’ve noticed that more people are bringing their own wine to restaurants and starting personal collections,” shared Danny Wong, CEO of Work+Store at Work+Store. “After speaking with friends and customers, it became clear that while interest in wine is growing, space at home is often limited. Our new premium wine storage gives wine lovers the opportunity to store their collections in a secure, climate-controlled environment with easy access whenever they need.”
Hashtag: #ValetStorage #WineStorageSingapore #StorageSolutionsSingapore

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

About Work+Store

Work+Store, a subsidiary of LHN Group, is a leading provider of affordable and secure in Singapore. Catering to both businesses and individuals, the company offers flexible storage options, whether for temporary needs during renovations or long-term inventory storage. Committed to convenience and accessibility, Work+Store continues to expand its offerings to meet the evolving storage demands of its customers.

For more information or to reserve a unit, visit or contact Work+Store at +65 8722 8000.

CNFinance Files Annual Report on Form 20-F for Fiscal Year 2024

GUANGZHOU, China, April 30, 2025 /PRNewswire/ — CNFinance Holdings Limited (NYSE: CNF) (“CNFinance” or the “Company”), a leading home equity loan service provider in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 with the U.S. Securities and Exchange Commission (“SEC”) on April 29, 2025.

The annual report can be accessed on the Company’s investor relations website at http://ir.cashchina.cn as well as the SEC’s website at http://www.sec.gov

The Company will provide a hard copy of its annual report, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to the Company’s IR Department at ir@cashchina.cn

About CNFinance Holdings Limited

CNFinance Holdings Limited (NYSE: CNF) (“CNFinance” or the “Company”) is a leading home equity loan service provider in China. CNFinance, through its operating subsidiaries in China, conducts business by connecting demands and supplies through collaborating with sales partners and trust companies under the trust lending model, and sales partners, local channel partners and commercial banks under the commercial bank partnership model. Sales partners and local channel partners are responsible for recommending micro- and small-enterprise (“MSE”) owners with financing needs to the Company and the Company introduces eligible borrowers to licensed financial institutions with sufficient funding sources including trust companies and commercial banks who will then conduct their own risk assessments and make credit decisions. The Company’s primary target borrower segment is MSE owners who own real properties in Tier 1 and Tier 2 cities and other major cities in China. The Company’s risk mitigation mechanism is embedded in the design of its loan products, supported by an integrated online and offline process focusing on risks of both borrowers and collateral and further enhanced by effective post-loan management procedures.

Coda unveils ESG roadmap to drive data privacy, ethics, and sustainability


SINGAPORE – Media OutReach Newswire – 30 April 2025 – Coda, a leader in digital content monetization, today released its inaugural Environmental, Social, and Governance (ESG) Report, detailing its commitment to sustainable growth, responsible operations, and creating long-term value for its stakeholders. The report details its ESG commitments and progress to-date across three business-critical areas that align with the broader fintech and payments industry’s focus. They are Data Privacy and Security, Ethics and Compliance, and Social and Labor Practices.

“We’re proud to release Coda’s first ESG report, a key step in our journey as a trusted global digital commerce partner,” said Shane Happach, CEO of Coda. “From reducing carbon emissions to enhancing data security, we are taking concrete steps to build a responsible and resilient business. This is just the beginning, and we’ll continue working with stakeholders to drive meaningful impact.”

Key Highlights:

  • Carbon Reduction: A 30% reduction in carbon footprint by 2030 (from a 2023 baseline) and net-zero emissions by 2040 through energy-efficient office spaces and partnerships with cloud providers using carbon-free energy.
  • Employee Well-being & Engagement: Achieve an engagement score of >80% by 2026.
  • Governance & Transparency: Publish an annual ESG report with a gradually expanding scope of disclosures, and consider aligning with a recognized reporting framework by 2026.
  • Data Security & Transparency: Achieve ISO 27001 certification by 2026 and maintain zero major data breaches. Formalize a quarterly security dashboard and externally publish a summary of our security efforts by 2025. Finally, to gradually work towards SOC 2 compliance for key systems by 2027.

Key Next Steps:

  • Internal Alignment: To support these targets, Coda will establish an internal ESG Steering Committee in 2025 to drive cross-functional execution of ESG initiatives and monitor progress on targets.
  • Data Enhancement: Strengthen ESG data collection systems by implementing tools that enable more detailed and accurate tracking, such as enhanced measurement of carbon emissions at a granular level.
  • Policy Updates: Develop or update policies to support target achievement. For example, a Green Procurement Policy to favor low-carbon suppliers.
  • Benchmarking: Continue to benchmark against industry peers and standards to inform our strategy.
  • Stakeholder Engagement: Increase engagement with both internal and external stakeholders on ESG. Internally, communicate the ESG roadmap to all employees so they understand our collective goals and their role in achieving them. Externally, gather feedback from investors, partners, and even customers on what ESG information they care about most, to ensure our reporting remains relevant.

Coda will regularly update our ESG priorities and targets to adapt to changing regulations, stakeholder needs, and new opportunities like emerging technologies. Our goal is a flexible ESG program that can respond to evolving challenges.

You can access the full report here.

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

About Coda

Founded in 2011, brings over a decade of experience in delivering commerce solutions and strategies that drive revenue growth. Trusted by more than 300 publishers—including industry titans like Activision, Bigo, Electronic Arts, Moonton and Riot Games—Coda grows revenue and deepens customer engagement for our partners by connecting them to 200M+ paying customers worldwide. Coda’s commerce, payment and distribution solutions include , a fully customizable web store, which provides direct API payments integration on publishers’ websites, , the go-to online marketplace for millions of gamers worldwide to purchase in-game content and , where we extend the reach of Codashop content across our network of trusted commerce partners. Headquartered in Singapore with 400+ Codans globally, Coda has most recently been recognized as an (2023) by the Financial Times, one of Granite Asia’s (2024), a payments leader in list (2024), and listed in The Straits Times (2024).