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Tongcheng Travel Deepened Presence in the Mass Travel Market in 1H2025 Accumulated Number of Travelers Served Increased by 7.2% Yoy to 1,990.6 Million Adjusted Net Profit Surges 28.6% Yoy to RMB1,563.3 Million

Increased Mass Travel Consumption Drives Strong Growth in Core OTA Businesses
AI Technology Builds Smart Travel Experiences

HONG KONG, Aug. 18, 2025 /PRNewswire/ — Tongcheng Travel Holdings Limited (“Tongcheng Travel” or the “Company”, together with its subsidiaries the “Group”, stock code: 0780.HK), a leading comprehensive travel platform in China, today announced its unaudited consolidated results for the three months (“2Q 2025”) and six months ended 30 June 2025 (the “period under review” or “1H 2025”).

1H2025 Highlights with Year-on-year (“yoy“) Comparison

Strong Growth in Revenue and Adjusted Net Profit

  • Revenue increased by 11.5% yoy to RMB9,046.9 million
  • Adjusted EBITDA increased by 35.2% yoy to RMB2,344.6 million, adjusted EBITDA margin was 25.9%
  • Adjusted net profit increased by 28.6% yoy to RMB1,563.3 million; adjusted net margin was 17.3% for 1H 2025 and 16.6% for 2Q 2025

Sustained Growth in User Base and User Value

  • Monthly paying users (MPUs) increased by 9.2% yoy to 46.5 million
  • Annual paying users (APUs) increased by 10.2% yoy to 251.7 million, recorded a historic high
  • Twelve-month Accumulated Number of Travelers Served increased by 7.2% yoy to 1,990.6 million, strengthened the Group’s position in China mass travel market

Robust Performance in Core OTA Businesses

  • Revenue of core OTA business increased by 15.9% yoy to RMB7,800.2 million 
    • Revenue from transportation ticketing services increased by 11.6% yoy to RMB 3,881.2 million. International air ticket volume achieved historic high with nearly 30% yoy growth in 2Q 2025
    • Revenue from accommodation reservation services increased by 18.8% yoy to RMB2,561.0 million. Daily room nights sold reaching a record high in 2Q 2025
    • Revenue from other businesses increased by 24.1% yoy to RMB1,358.0 million

Mr. Ma Heping, Executive Director and Chief Executive Officer of Tongcheng Travel, said, “In 2Q 2025, China’s travel industry maintained its trajectory of high-quality development, driven by robust market demand. Facing the dynamic market, Tongcheng Travel remains highly attuned to market changes and responds swiftly to seize the emerging opportunities. By leveraging our in-depth user insights and ongoing product and service optimization, we strengthen our market presence and further enhance brand influence. Looking ahead, we remain highly committed to expanding our core OTA business. While consolidating our domestic market position, we will fully advance our outbound travel business to strengthen our brand influence in the global market. Besides, we will also fortify our hotel management business to enhance our influence across the travel industry chain, supporting the Company’s long-term growth.”

Focusing on the Mass Travel Market and Enhancing User Value

The mass travel market is shifting beyond traditional leisure-focused itineraries toward deeper experiential engagement and cultural immersion, driving the emergence of new travel scenarios. Through extensive travel product offerings and effective user engagement initiatives, the Group has achieved continuous growth in both our user base and user value. During the period under review, the Group’s average MPUs increased by 9.2% yoy to 46.5 million, while APUs recorded a historic high and reached 251.7 million with 10.2% yoy growth. Besides, the twelve-month Accumulated Number of Travelers Served increased by 7.2% yoy to 1,990.6 million. Leveraging the effective traffic strategies and exceptional operational capabilities, Tongcheng Travel further solidified its position in China’s mass market.

The Group expanded its user base through various channels. During the period under review, Weixin ecosystem continued to serve as the Group’s vital traffic source, with more emphasis placed on enhancing operational efficiency within the platform. Meanwhile, the Group’s standalone APP remained the core channel for acquiring new users. Targeting the younger generation, the Group rolled out a series of entertaining marketing campaigns centered on trending social events, further strengthening brand appeal among targeted users. Notably, DAUs of its APP continued to grow strongly and reached an all-time high before the May Day holiday. Meanwhile, the Group intensified efforts across social media platforms to engage with younger, experience-oriented users.

Tongcheng Travel strived to enhance user value and deepen user loyalty on its platform. During the period under review, the Group set up an exclusive hotline and a dedicated customer service team to improve responsiveness to user inquiries and ensure prompt resolution of corresponding issues. In the meantime, the Group expanded user privileges and benefits, which yielded remarkable improvement in user retention and loyalty. Furthermore, the Group leveraged high-impact cultural events to strengthen engagement with younger cohorts and enhance brand appeal to experience-driven users.

Strong Growth Potential in Mass Travel Consumption
Core OTA Business Maintained Growth Momentum

Tongcheng Travel’s core OTA business maintained strong growth momentum. During the period under review, total revenue of core OTA business increased by 15.9 yoy to RMB7,800.2 million. Revenue from the accommodation business increased by 18.8% yoy to RMB2,561.0 million, fueled by solid volume growth and enhanced monetization capability. In 2Q 2025, the Group actively tapped into emerging accommodation reservation scenarios, such as weekend getaways, concerts and sports events, driving daily room nights sold to record highs. Besides, the Group intensified its efforts to expand its presence in lower-tier cities by targeting high-value users, which led to increased market share and further solidified competitiveness in these regions. As for the international accommodation business, the Group is devoted to deepening cooperation with global suppliers and strengthening presence in regions that are popular among Chinese travelers.

The Group’s transportation business once again achieved solid results. During the period under review, revenue from transportation ticketing services increased by 11.6% yoy to RMB3,881.2 million. The growth was mainly attributable to the entrenched market position, coupled with the expanding portfolio of value-added products and services. Besides, the Group’s international air ticketing business volume achieved historic high in 2Q 2025, with nearly 30% year-on-year growth, underpinned by the Group’s effective growth strategies and enhanced operational efficiency. As for the train ticketing business, the Group remained concentrated on enhancing Huixing system and optimizing operational strategies to better address user needs. As such, the monetization capabilities of the train ticket business further improved this quarter, contributing to healthy revenue growth of the segment.

Tongcheng Travel’s other businesses also demonstrated exceptional performance. During the period under review, revenue from the other businesses increased by 24.1% yoy to RMB1,358.0 million, driven by the excellent performance of its hotel management business. As a key initiative of the strategic deployment across the travel industry chain, the Group’s asset-light hotel management business sustained its healthy growth trajectory in expanding geographic footprint across China. By the end of June 2025, the number of hotels in operation under the hotel management business platform of the Group has risen to over 2,700, with nearly 1,500 in the pipeline.

Embracing Frontier Technologies to Build a Smarter Travel Experience

Guided by the technology-driven corporate value, Tongcheng Travel proactively embraces frontier technologies and strategically integrates them into its business so as to enhance operational efficiency and deliver seamless travel experiences. During the period under review, the Group launched its AI-powered itinerary planner DeepTrip, which combines the supply chain capabilities on the Group’s platform with the reasoning capabilities of DeepSeek. The Group advanced its application in some business scenarios to improve its operational efficiency. For tailor-made tours, the Group integrated DeepTrip into the workflow to streamline the consulting phase, which enables users to easily access comprehensive destination information, thus reducing consulting time and enhancing user experience. Meanwhile, the Group leveraged DeepTrip to deliver marketing activities to users inquiring about travel itineraries, thereby facilitating their decision-making process.

Tongcheng Travel is dedicated to empowering industry partners by utilizing its profound internet expertise and advanced technologies so as to build a highly efficient ecosystem. During the period under review, the Group initiated a strategic partnership with Shandong Provincial Airport Management Group. By leveraging its technological strengths and platform advantages, the Group will support them in optimizing flight planning and enhancing operational efficiency. Additionally, the Group has strengthened strategic cooperation with Xi’an Xianyang International Airport, with plans to deepen cooperation in intermodal travel products, member benefit integration, and joint marketing initiatives.

Furthermore, HopeGoo, the new international online travel booking platform under Tongcheng Travel, has been in full operation. It provides reservation services in six key areas including flights, hotels, train tickets, attraction tickets, ferry tickets, and local activities, and supports payments in 16 currencies and multiple languages.

Looking ahead, Tongcheng Travel will remain highly committed to expanding its core OTA business by enhancing market share and brand influence. While solidifying its domestic market position, the Group will seize opportunities to fully advance its outbound travel business, thereby expanding its global market presence. The Group will also fortify its hotel management business to enhance its influence across the travel industry chain, which is pivotal to its long-term development. Finally, Tongcheng Travel will remain committed to best practices in corporate governance, environmental protection, and social responsibility to generate long-term value for its stakeholders.

-End-

About Tongcheng Travel Holdings Limited (HKSE Stock Code: 0780.HK)

Tongcheng Travel is a one-stop shop for users’ travel needs. With the mission “make travel easier and more joyful”, Tongcheng Travel offers a comprehensive and innovative selection of products and services covering nearly all aspects of travel, including transportation ticketing, accommodation reservation, tourist attraction ticketing, and products including package tour, self-guided tour and cruise, including a wide array of transportation and leisure travel scenarios primarily through its online platforms, which comprise its Tencent-based platforms, its proprietary mobile apps, quick apps and other channels.

As a technology-driven company, Tongcheng Travel leverages big data and AI capabilities to better understand the preferences and behaviors of users, thereby offering users customized products and services. With has a strategic focus on mass travel market in China, Tongcheng Travel capitalizes on its diversified traffic sources, product innovation capability and flexible operation strategies to expand its market presence. Through the in-depth understanding of user experience and advanced technological capabilities, Tongcheng Travel has been revolutionizing what consumers expect from the online travel industry, making the entire travel process more convenient, personalized and enjoyable than ever. Tongcheng Travel aims to develop and apply its advanced technology to transform from an online travel agency to intelligent travel assistant.

For more information, please visit the Group’s website at https://www.tongchengir.com/

The completion of the off-site data backup system strengthens the foundation of data security

URUMQI, China, Aug. 18, 2025 /PRNewswire/ — On August 4th, State Grid Xinjiang Information & Communication Company completed the off-site backup construction of the Marketing 2.0 core business system, successfully establishing a unified off-site data backup management system that spans regions and data centers. This achievement signifies a new milestone in the company’s data disaster recovery and backup capabilities, offering enhanced assurance for business continuity and data storage security, and further reinforcing the foundation for digital transformation.

With the rapid expansion of the Marketing 2.0 business scale, the company has experienced exponential data growth. Ensuring data security and robust disaster recovery mechanisms has become essential for maintaining stable business operations. To address these needs, the company initiated the construction of a remote backup system aimed at strengthening its data security infrastructure and ensuring data integrity and uninterrupted business operations in the event of emergencies. Guided by the principles of “security, efficiency, and intelligence,” the company is committed to building a reliable data disaster recovery framework.

In the initial phase, State Grid Xinjiang Information & Communication Company assembled a professional technical team to conduct on-site assessments of multiple potential data centers. Through a comprehensive evaluation of key factors—including geographical location, network environment, infrastructure, and system standards—the optimal site for the off-site backup data center was selected. During the implementation phase, the company strictly adhered to the planned design, systematically executing system deployment, network configuration, and backup testing. It successfully overcame technical challenges related to cross-regional and cross-data center integration, ultimately achieving resource synergy between the two locations. The system now supports real-time local backup and automated remote synchronization of Marketing 2.0 core business data, forming a comprehensive data protection architecture based on “dual-active + disaster recovery.” Through the combined use of local and off-site backup mechanisms, the company has achieved end-to-end secure storage of core business data, significantly enhancing data protection and business resilience.

Looking ahead, the company plans to conduct remote backup and recovery drills for the Marketing 2.0 system to validate the reliability and effectiveness of the off-site backup data. Additionally, it will continue to enhance the data security and disaster recovery system to provide a more robust foundation for the company’s ongoing business development.

The Westin Resort & Spa Ubud Bali: A Sanctuary Where Wellness and Balinese Spirit Unite

BALI, Indonesia, Aug. 18, 2025 /PRNewswire/ — Nestled amidst Ubud’s verdant landscapes and moments away from Bali’s most revered natural and cultural treasures, such as the Sacred Monkey Forest, Campuhan Ridge Walk, and Tegalalang Rice Terraces, The Westin Resort & Spa Ubud Bali offers a tranquil escape where holistic wellbeing and authentic Balinese heritage converge in harmony.

The Westin Resort & Spa Ubud Bali, a sanctuary where wellness and Balinese spirit unite.
The Westin Resort & Spa Ubud Bali, a sanctuary where wellness and Balinese spirit unite.

Guided by Westin’s Six Pillars of Wellbeing, the resort invites guests to embrace a lifestyle of balance, encouraging restful sleep, nourishing cuisine, mindful movement, emotional connection, purposeful work, and joyful play. Every experience is thoughtfully curated to foster inner peace, presence, and a deeper connection to the island’s soulful traditions.

Upon arrival, guests are welcomed with a Balinese Blessing Ritual, a gentle sprinkling of holy water that sets a serene intention for their stay. Immersive cultural activities such as Canang Sari Making offer insight into the island’s daily offering, each petal and element a symbol of gratitude and devotion. As dusk falls, the Sandikala Ritual illuminates the resort with traditional torches, gently ushering in the twilight with reverence and calm.

At the heart of the resort, the Heavenly Spa by The Westin™ Ubud presents the Ultimate Spiritual Healing Journey, a transformative ritual that begins with traditional Balinese attire and includes metenung (palm reading), tri-mandala meditation for chakra alignment, and a sacred Melukat purification ceremony. The journey culminates in a 60-minute Heavenly Sacred Treatment, designed to restore energetic balance and uplift the spirit.

For those seeking mindful connection with nature, the Explore the Nature program offers guided walks through rice terraces, serene waterfalls, and local farms. Alternatively, the Sunset Bicycle Ride invites guests to embrace the golden hour, breathing in the fresh air and exchanging smiles with the warm-hearted locals.

Every detail at The Westin Resort & Spa Ubud is infused with intention. From soul-nourishing rituals and cultural immersions to serene landscapes and restorative spa journeys, the resort is a sanctuary for those seeking to reconnect with themselves, with nature, and with the timeless wisdom of Balinese life.

For more information or to reserve your mindful escape, please visit westinubud.com or contact the reservations team at resv.dpswr@westin.com.

Follow The Westin Resort & Spa Ubud social media to find the latest information and promotions: Instagram and Facebook

INCUTix Launches Overseas Ticketing for Matsuya Ginza’s Exhibition Bringing Medalist Exhibition in Japan to Global Fans with a Tap

HONG KONG, Aug. 18, 2025 /PRNewswire/ — The global ticketing platform INCUTix, created by INCUBASE Studio, offers overseas fans access to tickets for the “Medalist Exhibition”(メダリスト展) which runs from August 13, 2025 at Tokyo’s Matsuya Ginza — with tickets on sale now. This marks the first time that tickets for a Matsuya Ginza-produced exhibition are made available to international audiences through INCUTix, enabling global anime fans to easily access and purchase tickets to exhibitions held in Japan.

INCUTix launches ticket sales for the “Medalist Exhibition”, opening August 13 at Tokyo’s Matsuya Ginza.
INCUTix launches ticket sales for the “Medalist Exhibition”, opening August 13 at Tokyo’s Matsuya Ginza.

The “Medalist Exhibition” features newly drawn illustrations created exclusively for the exhibition by author TSURUMAIKADA (つるまいかだ), along with iconic scenes from the manga, immersive recreations of the story’s world, and highlight clips from the animation. Fans can enjoy the dual excitement of the Medalist series and the artistry of figure skating. A wide range of original merchandise featuring the new illustrations are also available.

Fans outside of Japan can now safely and conveniently purchase tickets to the exhibition through INCUTix‘s online ticketing service.

Your Exhibition Experience Begins the Moment You Click

From purchasing tickets to stepping through the venue doors, INCUTix connects every moment seamlessly — each ticket a gateway to the stories and characters fans love.

With multilingual support and international payment options, INCUTix makes attending exhibitions in Japan more accessible, secure and simpler than ever — no matter where you are from.

INCUTix offers an overseas ticketing platform to audiences across Asia and around the world for the “Medalist Exhibition” at Matsuya Ginza in Tokyo, opening a new chapter in making Japan’s local exhibitions at accessible to international fans.

INCUTix for Japan exhibitions now easier than ever: www.incutix.com

About INCUBASE Studio

Headquartered in Hong Kong, INCUBASE Studio has offices in Tokyo, Taipei, Kuala Lumpur and Los Angeles. Known for its expertise in anime IP licensing and international event execution, INCUBASE has successfully curated exhibitions across key cities in Asia. In addition to running its anime culture and experience hub INCUBASE Arena and merchandise store INCUShop, INCUBASE also launched INCUTix — a global ticketing platform that connects fans not only to INCUBASE’s own curations, but also to a wider world of high-quality, original anime exhibitions.

www.incubasestudio.com 

Bupa Hong Kong Connects More Customers to Flexible and Affordable Outpatient Care with Blua Health Pass

Blua Health Pass promotes everyday wellness by making outpatient care more accessible across digital and in-person touchpoints, under Bupa’s commitment to Together for Your Health


HONG KONG SAR – Media OutReach Newswire – 18 August 2025 – To more effectively meet the evolving needs of healthcare customers in Hong Kong, Bupa Hong Kong is now launching Blua Health Pass, a subscription-based outpatient healthcare solution designed to deliver accessible local care. This programme empowers individuals to take control of their health with ease, flexibility and affordability.

Bupa Hong Kong Connects More Customers to Flexible and Affordable Outpatient Care with Blua Health Pass

With plans starting at just HK$250, Blua Health Pass connects customers to preventative care that meets the everyday wellness needs of today’s workforce and health-conscious individuals.

Developed to provide greater choice, Blua Health Pass offers seamless access to a wide range of outpatient services across digital and physical touchpoints—making it even more convenient to book appointments with general practitioners, specialists, Traditional Chinese Medical practitioners and physiotherapists. Customers can also track health progress, complete health missions and receive wellness recommendations available through the Blua Health app.

Blua Health, Hong Kong’s leading one-stop AI-powered mobile app, offers a range of digitally-enabled services including video consultations and ePharmacy¹, rewards for health missions, insurance management², and claims and other results review.

Three New Plans to Support Everyday Healthcare Needs

Blua Health Pass³ offers three levels of protection, with exclusive rates of up to 67% on standard service fees at around 380 service points and more than 20 specialties across Hong Kong. Customers can take advantage of priority eBooking on the Blua Health App for less wait time, AI-powered health assessments, digital prescription ordering and healthy living rewards. The three plans include:

  • Blua Health Pass Lite, priced at HK$250, is ideal for individuals exploring Bupa’s network healthcare services.
  • Moving up, the Blua Health Pass Plus is available for HK$780 per year, catering to those who seek more frequent healthcare interactions, providing greater access and savings on a variety of services.
  • The most comprehensive offering is the Blua Health Pass Flex, which costs HK$1,800 annually. This premium option is intended for individuals requiring broad and frequent access to outpatient care. Subscribers to the Flex plan can enjoy up to 15 outpatient visits per year, with co-payments ranging from HK$60 to HK$120. The plan covers a wide range of services, including general practice and specialist consultations, physiotherapy, Traditional Chinese Medicine, as well as diagnostic imaging, lab tests, vaccinations, and more.

Yuman Chan, General Manager of Bupa Insurance Business in Hong Kong, said, “Blua Health Pass helps to fill the outpatient medical needs for individuals without comprehensive insurance: whether they are freelancing, working for a startup, retired, or simply seeking an easier and more affordable way to access everyday care. Members can also stay in control of their healthcare management anytime, anywhere, and fully harness technology to integrate health into everyday life whilst making preventative care more affordable.”

Sign up for your preferred Blua Health Pass on Blua Health App today. Click this link to subscribe in just five minutes and begin enjoying accessible local care, priority in outpatient appointment bookings and exclusive rates: https://bluahealth.app.link/home


¹Video consultation and ePharmacy features are provided by our medical service provider.

²Insurance management services are offered through myBupa feature of Blua Health. myBupa is offered, distributed and operated by Bupa (Asia) Limited. Blua Health is not a licensed insurance agent of Bupa (Asia) Limited, nor does it represent Bupa to conduct any insurance activities. The fact that Blua Health provides myBupa feature does not constitute and should not be construed as Blua Health conducting any Regulated Activities as defined by the Insurance Ordinance, Chapter 41 of the Laws of Hong Kong, or any insurance activities.

³Blua Health Pass is a subscription-based membership scheme offered, distributed and operated by Blua (Asia) Services Limited, a company registered in Hong Kong under the Bupa Group. Blua Health Pass is not an insurance product. Terms and conditions apply. Please refer to our product leaflet for more details.

Hashtag: #Bupa #BupaHongKong #保柏 #保柏香港 #BluaHealthPass #BluaHealth通行證 #healthcare #日常保健

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

Bupa – An international health insurance specialist

Established in 1947, Bupa’s purpose is helping people live longer, healthier, happier lives and making a better world. We are an international healthcare company serving over 60 million customers worldwide. With no shareholders, we reinvest profits into providing more and better healthcare for the benefit of current and future customers. Bupa has businesses around the world, principally in Australia, the UK, Spain, Poland, Chile, Hong Kong SAR, India, Türkiye, Brazil, Mexico and New Zealand. We also have associate businesses in Saudi Arabia.

Bupa has been a health insurance specialist in Hong Kong since 1976, offering one-stop solutions across domestic and international health insurance, and healthcare services. Our comprehensive medical insurance schemes are tailored to meet individual needs, and we provide health solutions for companies of all sizes. We also have a team of registered nurses, health management professionals, and doctors who provide various expert healthcare support.

Our healthcare provision arm, Quality HealthCare Medical Services (QHMS), became part of Bupa in October 2013. QHMS offers Western Medicine, Traditional Chinese Medicine, Diagnostics & Imaging, Dental, Physiotherapy, Mental Health and Wellness services via a network of over 1,650 provider service points in Hong Kong.

For more information, visit .

DouYu International Holdings Limited Reports Second Quarter 2025 Unaudited Financial Results

WUHAN, China, Aug. 18, 2025 /PRNewswire/ — DouYu International Holdings Limited (“DouYu” or the “Company”) (Nasdaq: DOYU), a leading game-centric live streaming platform in China and a pioneer in the eSports value chain, today announced its unaudited financial results for the second quarter ended June 30, 2025.

Second Quarter 2025 Financial Highlights

  • Total net revenues in the second quarter of 2025 were RMB1,053.9 million (US$147.1 million), an increase of 2.1% from RMB1,032.0 million in the same period of 2024.
  • Gross profit in the second quarter of 2025 was RMB141.9 million (US$19.8 million), an increase of 68.5% from RMB84.2 million in the same period of 2024.
  • Income from operations in the second quarter of 2025 was RMB14.2 million (US$2.0 million), compared with a loss from operations of RMB119.6 million in the same period of 2024.
  • Net income in the second quarter of 2025 was RMB37.8 million (US$5.3 million), compared with a net loss of RMB49.2 million in the same period of 2024.
  • Adjusted net income (non-GAAP)[1] in the second quarter of 2025 was RMB25.3 million (US$3.5 million), compared with an adjusted net loss (non-GAAP) of RMB45.5 million in the same period of 2024.

Ms. Simin Ren, Co-Chief Executive Officer of DouYu, commented, “Against the backdrop of a volatile macro environment and intensifying industry competition, we remained focused on advancing our revenue diversification and cost efficiency strategies. During the quarter, we continued to optimize our live-streaming business, while also advancing monetization of our innovative business lines through expanded industry collaborations and upgraded promotion strategies. Seasonal promotions drove a 24.5% quarter-over-quarter increase in revenue from our Innovative business, advertising and others segment, underscoring our strong execution. Looking ahead, we will continue to enhance user experience and optimize cost efficiency as we navigate the evolving macro conditions. We remain dedicated to offering premium products such as gaming tournaments and entertainment events, while ensuring the sustainable development of our platform and content ecosystem.”

Mr. Hao Cao, Vice President of DouYu, commented, “In the second quarter, our game membership program and voice-based social networking business continued to demonstrate healthy momentum, further diversifying our revenue structure. Revenues from Innovative businesses, advertising and others rose to RMB476.1 million and accounted for 45.2% of total revenue, compared with 23.4% in the same period last year. In addition, total revenue for the quarter grew 2.1% year-over-year to RMB1.05 billion. Our effective cost efficiency initiatives also drove a return to profitability for the quarter, with gross margin expanding to 13.5%. Net profit reached RMB37.8 million and adjusted net profit was RMB25.3 million, marking a meaningful turnaround. While we expect the livestreaming industry to grow more complex and volatile in the second half of the year, we are well prepared and will continue executing our strategies with discipline and consistency to address the challenges ahead.”

Second Quarter 2025 Operational Highlights

In the second quarter, average mobile MAUs[2] of our livestreaming-related business were 36.4 million, down 11.4% year-over-year, which aligns with our content cost optimization strategy. This decline was largely due to fewer official tournament broadcasts and a reduction in related derivative content offerings on the platform.

  • In the second quarter, the number of quarterly average paying users[3] for livestreaming-related business was 2.8 million, with a quarterly ARPPU of RMB255. Compared with 2.9 million paying users in the first quarter, the slight sequential decline in paying users was mainly due to sustained weakness in consumer spending amid prevailing macro conditions, as well as adjustments in our operational strategies, including the scaling back of low-ROI operational activities and a reduction in content offerings.
  • In the second quarter, revenues from our voice-based social networking business reached RMB295.8 million. We continued to refine our application products and optimize traffic distribution strategies, maintaining a consistent revenue performance sequentially. Our average MAUs for voice-based social networking business for the second quarter were 462,800, with monthly average paying users[4] of 81,000.

Second Quarter 2025 Financial Results

Total net revenues in the second quarter of 2025 increased by 2.1% to RMB1053.9 million (US$147.1 million), compared with RMB1,032.0 million in the same period of 2024.

Livestreaming revenues in the second quarter of 2025 decreased by 26.9% to RMB577.8 million (US$80.7 million) from RMB790.1 million in the same period of 2024. The decrease was primarily due to decreases in both the number of total paying users and average revenue per paying user, as a result of fewer low-ROI operating activities and content offered in the quarter and continued moderation in the operating environment.

Innovative business, advertising and other revenues (formerly known as advertising and other revenues) in the second quarter of 2025 increased by 96.8% to RMB476.1 million (US$66.5 million) from RMB242.0 million in the same period of 2024. The increase was primarily driven by higher revenues from our voice-based social networking service and game membership service.

Cost of revenues in the second quarter of 2025 decreased by 3.8% to RMB912.0 million (US$127.3 million) from RMB947.8 million in the same period of 2024.

Revenue-sharing fees and content costs in the second quarter of 2025 decreased by 9.5% to RMB727.3 million (US$101.5 million) from RMB803.4 million in the same period of 2024. The decrease was primarily driven by a significant reduction in content costs as part of our cost structure optimization efforts, as well as a decrease in revenue-sharing fees due to lower livestreaming revenues. The decrease was partially offset by increased revenue-sharing fees related to revenue growth in our voice-based social networking service.

Bandwidth costs in the second quarter of 2025 decreased by 38.9% to RMB48.6 million (US$6.8 million) from RMB79.6 million in the same period of 2024. The decline was primarily due to our bandwidth allocation advancement and a year-over-year decrease in peak bandwidth usage.

Gross profit in the second quarter of 2025 increased by 68.5% to RMB141.9 million (US$19.8 million) from RMB84.2 million in the same period of 2024. The increase in gross profit was primarily driven by decreases in our content costs and bandwidth costs. Gross margin in the second quarter of 2025 was 13.5%, compared with 8.2% in the same period of 2024.

Sales and marketing expenses in the second quarter of 2025 decreased by 20.0% to RMB61.6 million (US$8.6 million) from RMB77.0 million in the same period of 2024. The decrease was mainly attributable to reductions in staff-related and promotion-related expenses.

Research and development expenses in the second quarter of 2025 decreased by 44.9% to RMB27.6 million (US$3.9 million) from RMB50.1 million in the same period of 2024. The decrease was mainly attributable to a decrease in staff-related expenses.

General and administrative expenses in the second quarter of 2025 decreased by 17.9% to RMB39.8 million (US$5.6 million) from RMB48.5 million in the same period of 2024. The decrease was mainly attributable to reductions in staff-related expenses and professional fees.

Income from operations in the second quarter of 2025 was RMB14.2 million (US$2.0 million), compared with a loss from operations of RMB119.6 million in the same period of 2024.

Net income in the second quarter of 2025 was RMB37.8 million (US$5.3 million), compared with a net loss of RMB49.2 million in the same period of 2024.

Adjusted net income (non-GAAP), which excludes net income excluding share of loss in equity method investments and impairment losses and fair value adjustments on investments, was RMB25.3 million (US$3.5 million) in the second quarter of 2025, compared with an adjusted net loss (non-GAAP) of RMB45.5 million in the same period of 2024.

Basic and diluted net income per ADS[5] in the second quarter of 2025 were both RMB1.25 (US$0.17).

Adjusted basic and diluted net income per ADS (non-GAAP) in the second quarter of 2025 were both RMB0.84 (US$0.12).

Cash and cash equivalents, restricted cash and bank deposits

As of June 30, 2025, the Company had cash and cash equivalents, restricted cash, restricted cash in other non-current assets, and short-term and long-term bank deposits of RMB2,311.2 million (US$322.6 million), compared with RMB4,467.8 million as of December 31, 2024. The decrease was primarily due to a special cash dividend distribution of US$300 million in February 2025.

[1] “Adjusted net income (non-GAAP)” is defined as net income excluding share of income (loss) in equity method investments, impairment losses and fair value adjustments on investments, and impairment losses of goodwill and intangible assets. For more information, please refer to “Use of Non-GAAP Financial Measures” and “Reconciliations of GAAP and Non-GAAP Results” at the end of this press release.

[2] “MAUs” refers to the number of active mobile users (exclusive of innovative business unless the context otherwise indicates) in a given period. Average mobile MAUs for a given period is calculated by dividing (i) the sum of active mobile users for each month of such period, by (ii) the number of months in such period.

[3] “Quarterly average paying users” refers to the average paying users for each quarter during a given period of time calculated by dividing (i) the sum of paying users for each quarter of such period, by (ii) the number of quarters in such period. “Paying user” refers to a registered user that has purchased virtual gifts on our platform at least once during the relevant period.

[4] “Monthly average paying users” refers to the monthly average number of paying users during a given period of time calculated by dividing (i) the sum of paying users in each month of such period, by (ii) the number of months in such period. “Paying user” refers to a registered user that has purchased virtual gifts on our platform at least once during the relevant period.

[5] Each ADS represents one ordinary share for the relevant period and calendar year.

 

About DouYu International Holdings Limited

Headquartered in Wuhan, China, DouYu International Holdings Limited (Nasdaq: DOYU) is a leading game-centric live streaming platform in China and a pioneer in the eSports value chain. DouYu operates its platform on both PC and mobile apps to bring users access to immersive and interactive games and entertainment livestreaming, a wide array of video and graphic content, as well as opportunities to participate in community events and discussions. By nurturing a sustainable technology-based talent development system and relentlessly producing high-quality content, DouYu consistently delivers premium content through the integration of livestreaming, video, graphics, and virtual communities with a primary focus on games. This enables DouYu to continuously enhance its user experience and pursue long-term healthy development. For more information, please see http://ir.douyu.com.

Use of Non-GAAP Financial Measures

Adjusted (loss) income from operations is calculated as (loss) income from operations adjusted for Impairment of goodwill and intangible assets. Adjusted net (loss) income is calculated as net (loss) income adjusted for share of income (loss) in equity method investments, impairment losses and fair value adjustments on investments and impairment losses of goodwill and intangible assets. Adjusted net (loss) income attributable to DouYu is calculated as net (loss) income attributable to DouYu adjusted for share of income (loss) in equity method investments, impairment losses and fair value adjustments on investments, and impairment losses of goodwill and intangible assets. Adjusted basic and diluted net (loss) income per ordinary share is non-GAAP net (loss) income attributable to ordinary shareholders divided by the weighted average number of ordinary shares used in the calculation of non-GAAP basic and diluted net (loss) income per ordinary share. The Company adjusted the impact of (i) share of income (loss) in equity method investments, (ii) impairment losses and fair value adjustments on investments, and (iii) impairment losses of goodwill and intangible assets to understand and evaluate the Company’s core operating performance.The non-GAAP financial measures are presented to enhance investors’ overall understanding of the Company’s financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measures to their most directly comparable GAAP financial measures. As non-GAAP financial measures have material limitations as analytical metrics and may not be calculated in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measures as a substitute for, or superior to, such metrics in accordance with U.S. GAAP.

For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of GAAP and Non-GAAP Results” near the end of this release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB amounts could have been, or could be, converted, realized, or settled in U.S. dollars, at that rate on June 30, 2025, or at any other rate.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward- looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s results of operations and financial condition; the Company’s business strategies and plans; general market conditions, in particular, the game live streaming market; the ability of the Company to retain and grow active and paying users; changes in general economic and business conditions in China; any adverse changes in laws, regulations, rules, policies or guidelines applicable to the Company; and assumptions underlying or related to any of the foregoing. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor Relations Contact

In China:

Chenyang Yan                                   

DouYu International Holdings Limited

Email: ir@douyu.tv 

Tel: +86 (10) 6508-0677

 

Andrea Guo

Piacente Financial Communications

Email: douyu@tpg-ir.com 

Tel: +86 (10) 6508-0677

 

In the United States:

Brandi Piacente

Piacente Financial Communications

Email: douyu@tpg-ir.com 

Tel: +1-212-481-2050

 

 

 

 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except share, ADS, per share and per ADS data)

As of December 31

As of June 30

2024

2025

2025

ASSETS

RMB 

RMB

US$ (1)

Current assets:

Cash and cash equivalents

1,017,148

1,535,924

214,407

Restricted cash

83

170

24

Short-term bank deposits

3,070,374

583,723

81,485

Accounts receivable, net

49,057

55,488

7,746

Prepayments

26,885

24,768

3,457

Amounts due from related parties

74,175

65,181

9,099

Other current assets, net

231,354

234,957

32,799

Total current assets

4,469,076

2,500,211

349,017

 

Non-current assets:

Property and equipment, net

7,093

5,635

787

Intangible assets, net

60,917

45,194

6,309

Long-term bank deposits

360,000

160,000

22,335

Investments

456,815

409,885

57,218

Right-of-use assets, net

15,816

13,064

1,824

Other non-current assets

76,616

76,068

10,619

Total non-current assets

977,257

709,846

99,092

TOTAL ASSETS

5,446,333

3,210,057

448,109

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

LIABILITIES

Current liabilities:

Accounts payable

498,667

482,746

67,389

Advances from customers

4,444

3,293

460

Deferred revenue

252,346

244,029

34,065

Accrued expenses and other current liabilities

242,517

228,077

31,837

Amounts due to related parties

222,589

234,529

32,739

Lease liabilities due within one year

11,458

12,132

1,694

Total current liabilities

1,232,021

1,204,806

168,184

 

Non-current liability:

Lease liabilities

4,223

220

31

Total non-current liability

4,223

220

31

TOTAL LIABILITIES

1,236,244

1,205,026

168,215

(1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted,
all translations from RMB to U.S. dollars are made at a rate of RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025, in the
H.10 statistical release of the Federal Reserve Board.

 

 

 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(All amounts in thousands, except share, ADS, per share and per ADS data)

As of December 31

As of June 30

2024

2025

2025

RMB 

RMB 

US$ (1)

SHAREHOLDERS’ EQUITY

Ordinary shares

20

20

3

Additional paid-in capital

7,514,498

5,363,717

748,746

Accumulated deficit

(3,791,817)

(3,833,600)

(535,149)

Accumulated other comprehensive income

487,388

474,894

66,294

Total DouYu Shareholders’ Equity

4,210,089

2,005,031

279,894

Total Shareholders’ Equity

4,210,089

2,005,031

279,894

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

5,446,333

3,210,057

448,109

(1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted,
all translations from RMB to U.S. dollars are made at a rate of RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025, in the
H.10 statistical release of the Federal Reserve Board.

 

 

 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) 

(All amounts in thousands, except share, ADS, per share and per ADS data)

Three Months Ended

Six Months Ended

June 30,

2024

March 31,

2025

June 30,

2025

June 30,

2025

June 30,

2024

June 30,

2025

June 30,

2025

RMB

RMB

RMB

US$ (1)

RMB

RMB

US$ (1)

Net revenues

1,032,041

947,051

1,053,915

147,121

2,071,725

2,000,966

279,324

Cost of revenues

(947,823)

(833,543)

(911,975)

(127,307)

(1,878,501)

(1,745,518)

(243,665)

Gross profit

84,218

113,508

141,940

19,814

193,224

255,448

35,659

Operating (expense) income

Sales and marketing expenses

(76,963)

(72,929)

(61,585)

(8,597)

(152,533)

(134,514)

(18,777)

General and administrative expenses

(48,496)

(35,787)

(39,816)

(5,558)

(91,293)

(75,603)

(10,554)

Research and development expenses

(50,135)

(32,749)

(27,611)

(3,854)

(104,285)

(60,360)

(8,426)

Other operating (expense) income, net

(28,189)

1,815

1,318

184

(131,617)

3,133

437

Total operating expenses

(203,783)

(139,650)

(127,694)

(17,825)

(479,728)

(267,344)

(37,320)

(Loss) income from operations

(119,565)

(26,142)

14,246

1,989

(286,504)

(11,896)

(1,661)

Other (expenses) income, net

(943)

(58,554)

9,463

1,321

(943)

(49,091)

(6,853)

Interest income

75,972

10,141

19,200

2,680

157,066

29,341

4,096

Foreign exchange income (loss)

604

258

(17)

(2)

757

241

34

(Loss) income before income taxes and share of loss
   in equity method investments

(43,932)

(74,297)

42,892

5,988

(129,624)

(31,405)

(4,384)

Income tax expense

(2,510)

(5,134)

(8,151)

(1,138)

(2,510)

(13,285)

(1,855)

Share of (loss) income in equity method investments

(2,727)

(181)

3,088

431

(4,988)

2,907

406

Net (loss) income 

(49,169)

(79,612)

37,829

5,281

(137,122)

(41,783)

(5,833)

Net (loss) income attributable to ordinary 

shareholders of the Company

 

(49,169)

(79,612)

37,829

5,281

(137,122)

(41,783)

(5,833)

Net (loss) income per ordinary share

Basic

(1.58)

(2.64)

1.25

0.17

(4.36)

(1.38)

(0.19)

Diluted

(1.58)

(2.64)

1.25

0.17

(4.36)

(1.38)

(0.19)

Net (loss) income per ADS(2)

Basic

(1.58)

(2.64)

1.25

0.17

(4.36)

(1.38)

(0.19)

Diluted

(1.58)

(2.64)

1.25

0.17

(4.36)

(1.38)

(0.19)

Weighted average number of ordinary shares used in calculating net (loss) income per ordinary share

Basic

31,128,544

30,178,859

30,178,859

30,178,859

31,467,862

30,178,859

30,178,859

Diluted

31,128,544

30,178,859

30,178,859

30,178,859

31,467,862

30,178,859

30,178,859

Weighted average number of ADS used in calculating net (loss) income per ADS(2)

Basic

31,128,544

30,178,859

30,178,859

30,178,859

31,467,862

30,178,859

30,178,859

Diluted

31,128,544

30,178,859

30,178,859

30,178,859

31,467,862

30,178,859

30,178,859

(1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted, all translations
from RMB to U.S. dollars are made at a rate of RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025, in the H.10 statistical release of the
Federal Reserve Board.

(2) Each ADS represents one ordinary share.

 

 

 

RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except share, ADS, per share and per ADS data)

Three Months Ended

Six Months Ended

June 30,

2024

March 31,

2025

June 30,

2025

June 30,

2025

June 30,

2024

June 30,

2025

June 30,

2025

RMB

RMB

RMB

US$ (1)

RMB

RMB

US$ (1)

(Loss) income from operations

(119,565)

(26,142)

14,246

1,989

(286,504)

(11,896)

(1,661)

Adjusted operating (loss) income (non-GAAP)

(119,565)

(26,142)

14,246

1,989

(286,504)

(11,896)

(1,661)

Net (loss) income

(49,169)

(79,612)

37,829

5,281

(137,122)

(41,783)

(5,833)

Add:

Share of income (loss) in equity method investments

2,727

181

(3,088)

(431)

4,988

(2,907)

(406)

Impairment losses and fair value adjustments on
investments (2)

943

58,554

(9,463)

(1,321)

943

49,091

6,853

Adjusted net (loss) income (non-GAAP)

(45,499)

(20,877)

25,278

3,529

(131,191)

4,401

614

Net (loss) income attributable to DouYu

(49,169)

(79,612)

37,829

5,281

(137,122)

(41,783)

(5,833)

Add:

Share of income (loss) in equity method investments

2,727

181

(3,088)

(431)

4,988

(2,907)

(406)

Impairment losses and fair value adjustments on
investments

943

58,554

(9,463)

(1,321)

943

49,091

6,853

Adjusted net (loss) income attributable to DouYu

(45,499)

(20,877)

25,278

3,529

(131,191)

4,401

614

Adjusted net (loss) income per ordinary share (non-GAAP)

Basic

(1.46)

(0.69)

0.84

0.12

(4.17)

0.15

0.02

Diluted

(1.46)

(0.69)

0.84

0.12

(4.17)

0.15

0.02

Adjusted net (loss) income per ADS(3)(non-GAAP)

 

Basic

(1.46)

(0.69)

0.84

0.12

(4.17)

0.15

0.02

Diluted

(1.46)

(0.69)

0.84

0.12

(4.17)

0.15

0.02

Weighted average number of ordinary shares used in calculating Adjusted net (loss) income per ordinary share

Basic

31,128,544

30,178,859

30,178,859

30,178,859

31,467,862

30,178,859

30,178,859

Diluted

31,128,544

30,178,859

30,178,859

30,178,859

31,467,862

30,178,859

30,178,859

Weighted average number of ADS used in calculating net (loss) income per ADS(2) 

Basic

31,128,544

30,178,859

30,178,859

30,178,859

31,467,862

30,178,859

30,178,859

Diluted

31,128,544

30,178,859

30,178,859

30,178,859

31,467,862

30,178,859

30,178,859

(1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted, all
translations from RMB to U.S. dollars are made at a rate of RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025, in the H.10 statistical
release of the Federal Reserve Board.

(2) Impairment losses and fair value adjustments on investments were included in line item “Other expenses, net” of condensed consolidated statements of
income (loss).

(3) Each ADS represents one ordinary share.

 

INFLUENTIAL BRANDS AWARDS CELEBRATES 14 YEARS RECOGNISING BRAND LEADERSHIP, WORKPLACE EXCELLENCE, SUSTAINABILITY AND VISIONARY LEADERSHIP IN ASIA

SINGAPORE, Aug. 18, 2025 /PRNewswire/ — To be held in Singapore in March 2026, Influential Brands® will celebrate its 14th Anniversary recognising business leadership in Asia. This special occasion will gather prominent brands, employers and companies that are taking the lead on branding, employer and sustainability excellence. A special segment will be placed for the Top CEO award that will recognise business leaders forging the path for their business’s success. 

With an awardee portfolio of over 500 of the most influential companies in Asia, Influential Brands® is widely recognised as the catalyst of growth that celebrates the “Champions of Excellence” and fosters business opportunities among the best companies in Asia.

Influential Brands®, headquartered in Singapore, follows an award criteria based on quantitative and qualitative market research to understand consumers’ preferences, employees’ expectations and sustainability requirements as part of the process to identify the awardees.

Mr Jorge Rodriguez, Managing Director of Influential Brands® said, “We are honoured to be the award platform of choice adopted by some of the most progressive companies in Asia.

Their testimonials reflect the positive impact we make in their business, and we thank them for their trust on us. Our community comprises of the most reputable companies in Asia including AirAsia (Malaysia), Bangkok Bank (Thailand), BYD (China), Chow Tai Fook (China), CBVH (Cambodia), DBS (Singapore), Frasers Property (Thailand), Grab (Singapore), Indofood (Indonesia), Marina Bay Sands (Singapore), Telkomsel (Indonesia), Samsung (South Korea), Sunway Malls (Malaysia), Toyota (Japan), Shiseido (Japan), Shopee (Singapore), Security Bank (Philippines), among other prominent Brands.

Through collaborations with such a diverse pool of business leaders, we take pride in supporting them establish a successful business that generates value and is recognized for their significance and excellence.”

Each Category Award follows a specific Criteria based on quantitative and qualitative data analysis gathered via ongoing surveys covering more than 25,000 consumers / shoppers and more than 50,000 employees across Asia.

Award                                                  Criteria

Top CEOs                                           Leadership and Management

Top Employers                                   Meaningful culture and positive employee engagement

Top Brands                                         Brand leadership and consumer preference

Top Sustainability Companies            High standards on sustainability and reporting

Top Brand, Top Employers and Top Sustainability Companies Awardee Alumni
Top Brand, Top Employers and Top Sustainability Companies Awardee Alumni

Beyond profits: Business Leaders embracing sustainable leadership for good

The Asia’s Top CEO Award is an special recognition are given to a select group of prominent business leaders who are exemplary in their respective industries, with strong leadership and with the ability to influence business in Asia. Over the years, we have recognised business leaders whose management approach prioritise long-term success and well-being by integrating environmental, social, and economic considerations into decision-making. 

Influential Brands’ Top CEO Awardee Alumni.
Influential Brands’ Top CEO Awardee Alumni.

2026 Regional CEO Summit to welcome Business Leaders from all over Asia

The last edition of the CEO Summit was held in Singapore and Bangkok in March 2025 to recognise and honour pioneers in various industries who have made a profound impact on their customers, consumers, employees and the environment.

Top Sustainability Award: Showcasing Leadership on Sustainability

The awards selection process is grounded in the Global ESG Monitor (GEM) methodology, offering a comprehensive perspective on sustainability practices with a primary aim of assessing and benchmarking the quality of sustainability reporting reflected meaningfully through comprehensive ESG disclosures in Annual Reports and Non-Financial Reports.

The Awardees conferred with the title of Top Sustainability Companies 2024 in Singapore include City Developments Limited and UOL Group. Both companies have demonstrated impressive leadership in sustainability, setting an inspiring standard through the transparent and impactful reporting of its environmental, social, and governance (ESG) efforts. 

Top Employer Award: Commitment towards employee engagement and positive workplace culture

Backed by a robust anonymous employee survey with the participation of more than 25,000 employees, 9 companies are crowned “Asia’s Top Employers”. These organisations have not only exceeded industry standards but have also demonstrated a profound commitment to fostering meaningful employee engagement, establishing a strong alignment between employee and company culture, and implementing pertinent HR practices in the digital age.

The Awardees are: United Overseas Bank (Bank), Singapore Land Group Limited (Property), NTUC LearningHub (Education), National University Health System (Healthcare), PlayFACTO School (Pre-School), JAG Engineering (Engineering), Office Planner (Furniture), Boys’ Town (Non-Profit Charity) and Thailand’s Tops (Supermarket) are lauded by their own employees through anonymous surveys as excellent employers.

Top Brand Award: Leading the way winning the hearts of consumers

Backed by a robust market survey across Asia with the participation of 10,000 consumers, prominent brands are named the “Top Influential Brands”. From consumers, grocery shoppers to frequent travellers, the survey provides a comprehensive view of consumers’ preference in key markets in Asia.

The awardees by region and country are:

  • Asia: AirAsia, Barilla, Gong Cha, Haagen-Dazs, MindChamps.
  • Singapore: AOz, Bioskin, BYD, Chan Brothers Travel, Chew’s, Din Xiao Er, elemen, FairPrice Group, Farmpride, Gardens by the Bay, Huttons, in:genius by Nascans, Jewel Changi Airport, Koufu, Marina Bay Sands, MoneyMax, mulberry, My First Skool, NTUC LearningHub, Odyssey, PlayFACTO School, PropNex, Ryan’s Grocery, SongHe, TungLok, Unisoy.
  • Thailand: Auntie Anne’s, Bangkok Life, Café Amazon, Cotto, Fun-O, Good Mate, Lamina Digital, Lotus’s, Maepranom, Muang Thai Life Insurance, Mister Donut, S&P, Thai Life Insurance, Three Lady Cooks, Tivoli.
  • Malaysia: Big Onion Catering, CB, Famous Amos, MoneyMax, Souper Tang.
  • Philippines: Autohub Group, BonChon, Security Bank.
  • China: Beijing Tong Ren Tang, Chow Tai Fook.
  • Cambodia: Cheang Bak Van Hong Jewellery
  • Vietnam: CafePHO

Thailand’s Top CEO Award: Inspiring visionaries shaping the future of business

The main highlight of the event in Thailand was the recognition of the Top CEOs who were assessed based on their capacity to expand their business (local and international), financial performance, innovation and personal integrity.

CEO Summit Thailand, Influential Brands, in collaboration with Neo Target Co., Ltd., hosted a prestigious awards ceremony in Bangkok on March 6 to honour Thailand’s most prominent corporate leaders of the year.
CEO Summit Thailand, Influential Brands, in collaboration with Neo Target Co., Ltd., hosted a prestigious awards ceremony in Bangkok on March 6 to honour Thailand’s most prominent corporate leaders of the year.

The event was presided over by Mr Omsin Chiwaphruek, former Minister Attached to the Prime Minister’s Office of Thailand, who also officiated the award presentations. 

Among the distinguished brands and leaders recognised were Cotto, Mae Pranom, SCG JWD Logistics, and two prominent female CEOs—Ms Benjamas Apinunrungroj, CEO of GCS Group Corporation Co., Ltd., and Asst. Prof. Dr Wimalyn Bovenizer, Executive President of Phoenix QC Co., Ltd.—both of whom attended the 2025 Asia CEO Summit & Award Ceremony in Singapore. At the event in Singapore, Ms. Carol Fong, Group CEO, CGS International Securities Singapore Pte Ltd was conferred with the title of Asia’s Top CEO.  

The Top CEO Award (Thailand) also recognised Mrs Churaiporn Wijackanawong, Executive Director of Q-Advertising Co., Ltd.; Mr Chai Chaiyawan, Director & CEO of Thai Life Insurance Public Company Limited; and Mr Sara Lamsam, CEO of Muang Thai Life Assurance Public Company Limited.

Mr Jorge Rodriguez, Managing Director of Influential Brands® said, “It is our honour to recognise Business Excellence in Asia. We are looking forward to celebrate ASEAN business leaders at the CEO Summit and Gala Event in March 2026. 

SquaredFinancial unveils referral program with rewards up to $1,000 per client

VICTORIA, Seychelles, Aug. 18, 2025 /PRNewswire/ — Technology-driven trading platform, SquaredFinancial, has launched its referral program, to accelerate client growth, drive trading volume, and offer real value to its global community of traders.

SquaredFinancial harnesses advanced technology and client-first approach to boost customer retention rates by increasing clients’ revenue, while ensuring a seamless and rewarding experience.

 

SquaredFinancial unveils referral program
SquaredFinancial unveils referral program

 

Under the new program, existing clients can earn flexible payouts of up to $1,000 for every friend they refer who meets the program’s verification, funding, and trading criteria. This initiative presents traders with an additional way to grow their income alongside their trading activity.

The SquaredFinancial referral program is built on mutual benefits. Referrals are welcomed with incentive bonuses when they open their account and deposit, while referrers are rewarded for their endeavours, trust, and loyalty.

Thousands of traders trust SquaredFinancial. By referring friends, traders are helping them navigate the markets seamlessly while enhancing their own trading journey with added rewards.

Start referring today.

About SquaredFinancial

Founded in 2005, SquaredFinancial is a fintech and multi-asset trading firm providing regulated, technology-driven investment solutions. The company serves a global client base, offering intuitive platforms for investors and professional-grade liquidity and technology services for brokers. With a focus on innovation, transparency, and long-term relationships, SquaredFinancial is built to support the future of finance.