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Kingsoft Cloud Announces Unaudited First Quarter 2025 Financial Results

By
Advertorial Desk
-

BEIJING, May 28, 2025 /PRNewswire/ — Kingsoft Cloud Holdings Limited (“Kingsoft Cloud” or the “Company”) (NASDAQ: KC and HKEX: 3896), a leading cloud service provider in China, today announced its unaudited financial results for the first quarter ended March 31,2025.

Mr. Tao Zou, Chief Executive Officer of Kingsoft Cloud, commented, “Despite uncertainties in global supply chain, we believe the importance for cloud services as infrastructure in the AI-era is gaining greater traction. This quarter, our gross billing of AI business increased by 228% year- over-year to RMB525 million, accounting for 39% of our public cloud services. We are confident and fully committed into our AI related investment and high-quality and sustainable business development.”

Mr. Henry He, Chief Financial Officer of Kingsoft Cloud, added, “Our revenue increased by 10.9% year-over-year, achieving RMB1,970.0 million for the first quarter; however sequentially we experienced seasonal decrease. Our adjusted gross profit was RMB327.7 million, increased by 9.6% year-over-year and decreased by 23.4% quarter-over-quarter. Adjusted gross margin was 16.6% in this quarter, compared with 16.8% in the first quarter 2024 and 19.2% in the fourth quarter last year.  Our adjusted operating loss was RMB55.8 million, narrowed by 56% from RMB127.0 million in the same period last year. Our adjusted EBITDA profit achieved RMB318.5 million, representing an adjusted EBITDA margin of 16.2%”

First Quarter 2025 Financial Results

Total Revenues reached RMB1,970.0 million (US$271.5[1] million), increased by 10.9% year-over-year from RMB1,775.7 million in the same quarter of 2024 and decreased by 11.7% quarter-over-quarter from RMB2,232.1million in the fourth quarter of 2024. The year-over-year increase was mainly due to the expanded revenue from Xiaomi and Kingsoft Ecosystem and  AI related customers and our further penetration into enterprise cloud customers. The quarter-over-quarter decrease was mainly due to the seasonality impact for enterprise cloud.

Revenues from public cloud services were RMB1,353.5 million (US$186.5 million), increased by 14.0% from RMB1,187.4 million in the same quarter of  2024 and decreased by 4.0% from RMB1,409.8 million last quarter. The year-over-year increase was mainly due to the growth of AI demands.

Revenues from enterprise cloud services were RMB616.5 million (US$85.0 million), representing an increase of 4.8% from RMB588.2 million in the same quarter of 2024 and a decrease of 25.0% from RMB822.3 million last quarter. The sequential decrease was mainly due to the Chinese New Year impact and differentiated delivery schedules for various projects.

Other revenues were nil this quarter.

Cost of revenues was RMB1,651.7 million (US$227.6 million), representing an increase of 11.4% from RMB1,482.4 million in the same quarter of 2024, which was mainly due to our investment into AI computing resources. IDC costs decreased by 6.0% year-over-year from RMB768.5 million to RMB722.8 million (US$99.6 million) this quarter. The decrease was mainly due to our strict control over procurement costs. Depreciation and amortization costs increased from RMB183.5 million in the same quarter of 2024 to RMB378.5 million (US$52.2 million) this quarter. The increase was mainly due to the depreciation of newly acquired servers which were allocated to AI business. Solution development and services costs increased by 13.3% year-over-year from RMB446.0 million in the same quarter of 2024 to RMB505.2 million (US$69.6 million) this quarter. The increase was mainly due to the solution personnel expansion of Camelot. Fulfillment costs and other costs were RMB3.1 million (US$0.4 million) and RMB42.1 million (US$5.8 million) this quarter.

Gross profit was RMB318.3 million (US$43.9 million), representing an increase of 8.5% from RMB293.3 million in the same quarter of 2024, demonstrating our improvements in revenue quality and structure. Gross margin was 16.2%, remaining stable compared with 16.5% in the same period in 2024. Non-GAAP gross profit[2] was RMB327.7 million (US$45.2 million), compared with RMB299.1 million in the same period in 2024. Non-GAAP gross margin[2] was 16.6%, compared with 16.8% in the same period in 2024. The improvement of our gross profit was mainly due to the decrease of procurement costs. The sequential decrease of gross margin was mainly due to the growing investment into AI and the delay of high-margin profile enterprise cloud projects in first quarter.

Total operating expenses were RMB552.5 million (US$76.1 million), decreased by 2.6% from RMB567.4 million in the same quarter last year and increased by 17.7% from RMB469.5 million last quarter. Among which:

Selling and marketing expenses were RMB144.3 million (US$19.9 million), increased by 23.6% from RMB116.8 million in the same period in 2024 and increased by 24.7% from RMB115.8 million last quarter. The increase was due to the increase of one-time-off bonus of share based compensation.

General and administrative expenses were RMB182.0million (US$25.1million), decreased by 16.8% from RMB218.7 million in the same period in 2024 and slightly increased by 1.4% from RMB179.5 million last quarter. The year-over-year decrease was mainly due to the decrease of credit loss expense, which was partially offset by the increase of share based compensation.

Research and development expenses were RMB226.2 million (US$31.2 million), decreased by 2.5% from RMB232.0 million in the same period in 2024 and increased by 29.9% from RMB174.2 million last quarter. The increase was mainly due to our continuous investment into research and development personnel to enhance our technology competitiveness and increase of share based compensation.

Operating loss was RMB234.2 million (US$32.3 million), compared with operating loss of RMB274.2 million in the same quarter of 2024 and RMB43.5 million last quarter. The year-over-year improvement was mainly due to the increase of gross profit and our strict expenses control, while the sequential increase was mainly due to the impact of gross profit and increase of shared based compensation. Non-GAAP operating loss[3] was RMB55.8 million (US$7.7 million), compared with operating loss of RMB127.0 million in the same quarter last year and operating profit of RMB24.4 million last quarter.

Net loss was RMB316.1 million (US$43.6 million), compared with net loss of RMB363.6 million in the same quarter of 2024 and RMB200.6 million last quarter. Non-GAAP net loss[4] was RMB190.6 million (US$26.3 million), compared with RMB217.3 million in the same quarter of 2024 and RMB70.3 million last quarter. The year-over-year improvement was mainly due to the revenue quality increase, revenue mix adjustment, strict costs control and expenses control. The quarter-over-quarter decrease was mainly due to the seasonality impact.

Non-GAAP EBITDA[5] was RMB318.5 million (US$43.9 million), compared with RMB33.2 million in the same quarter of 2024 and RMB359.7 million last quarter. Non-GAAP EBITDA margin was 16.2%, compared with 1.9% in the same quarter of 2024 and 16.1% in the previous quarter. The increase was mainly due to the expansion of AI businesses with higher margin.

Basic and diluted net loss per share was RMB0.08 (US$0.01), compared with RMB0.10 in the same quarter of 2024 and RMB0.05 last quarter.

Cash and cash equivalents were RMB2,322.7 million (US$320.1 million) as of March 31, 2025, compared with RMB2,648.8 million as of December 31, 2024. The decrease was mainly due to the investment into operation and the investment into the procurement of computing power equipment.

Outstanding ordinary shares were 3,703,014,637 as of March 31, 2025, equivalent to about 246,867,642 ADSs.

[1] This announcement contains translations of certain Renminbi (RMB) amounts into U.S. dollars (US$) at a specified rate solely for the convenience of the reader. Unless otherwise noted, the translation of RMB into US$  has been made at RMB7.2567 to US$1.00, the noon buying rate in effect on March 31, 2025 as certified for customs purposes by the Federal Reserve Bank of New York.

[2] Non-GAAP gross profit is defined as gross profit excluding share-based compensation allocated in the cost of revenues and we define Non-GAAP gross margin as Non-GAAP gross profit as a percentage of revenues. See “Use of Non-GAAP Financial Measures” set forth at the end of this press release.

[3] Non-GAAP operating (loss) profit is defined as operating loss excluding share-based compensation and amortization of intangible assets and we define Non-GAAP operating (loss) profit margin as Non-GAAP operating (loss) profit as a percentage of revenues. See “Use of Non-GAAP Financial Measures” set forth at the end of this press release.

[4] Non-GAAP net loss is defined as net loss excluding share-based compensation and foreign exchange loss (gain), and we define Non-GAAP net loss margin as adjusted net loss as a percentage of revenues. See “Use of Non-GAAP Financial Measures” set forth at the end of this press release.

[5] Non-GAAP EBITDA is defined as Non-GAAP net loss excluding interest income, interest expense, income tax (benefit) expense and depreciation and amortization, and we define Non-GAAP EBITDA margin as Non-GAAP EBITDA as a percentage of revenues. See “Use of Non-GAAP Financial Measures” set forth at the end of this press release.

Conference Call Information

Kingsoft Cloud’s management will host an earnings conference call on Wednesday, May 28, 2025 at 8:15 am, U.S. Eastern Time (8:15 pm, Beijing/Hong Kong Time on the same day).

Participants can register for the conference call by navigating to https://register-conf.media-server.com/register/BI5f4e481f10a54bdc8e351f2645183b41. Once preregistration has been completed, participants will receive dial-in numbers, direct event passcode, and a unique access PIN.

To join the conference, simply dial the number in the calendar invite you receive after preregistering, enter the passcode followed by your PIN, and you will join the conference instantly.

Additionally, a live and archived webcast of the conference call will also be available on the Company’s investor relations website at http://ir.ksyun.com.

Use of Non-GAAP Financial Measures

The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In evaluating our business, we consider and use certain non-GAAP measures, Non-GAAP gross profit, Non-GAAP gross margin, Non-GAAP operating (loss) profit, Non-GAAP operating (loss) profit margin, Non-GAAP EBITDA, Non-GAAP EBITDA margin, Non-GAAP net loss and Non-GAAP net loss margin, as supplemental measures to review and assess our operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or  as a substitute for the financial information prepared and presented in accordance with U.S. GAAP.  We define Non-GAAP gross profit as gross profit excluding share-based compensation allocated in the cost of revenues, and we define Non-GAAP gross margin as Non-GAAP gross profit as a  percentage of revenues. We define Non-GAAP operating (loss) profit as operating loss excluding share-based compensation and amortization of intangible assets and we define Non-GAAP operating  (loss) profit margin as Non-GAAP operating (loss) profit as a percentage of revenues. We define Non-GAAP net loss as net loss excluding share-based compensation and foreign exchange loss (gain), and we define Non-GAAP net loss margin as Non-GAAP net loss as a percentage of revenues. We define Non-GAAP EBITDA as Non-GAAP net loss excluding interest income, interest expense, income tax (benefit) expense and depreciation and amortization, and we define Non-GAAP EBITDA margin as Non-GAAP EBITDA as a percentage of revenues. We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. We also believe that the use of these non-GAAP measures facilitates investors ‘ assessment of our operating performance.

These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expense that affect our operations. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

We compensate for these limitations by reconciling these non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure.

Exchange Rate Information

This press release contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from RMB to U.S. dollars, in this press release, were made at a rate of RMB7.2567 to US$1.00, the noon buying rate in effect on March 31, 2025 as certified for customs purposes by the Federal Reserve Bank of New York.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the ” safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the Business Outlook, and quotations from management in this announcement, as well as Kingsoft Cloud’s strategic and operational plans, contain forward-looking statements. Kingsoft Cloud may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Kingsoft Cloud’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. 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: Kingsoft Cloud’s goals and strategies; Kingsoft Cloud’s future business development, results of operations and financial condition; relevant government policies and regulations relating to Kingsoft Cloud ‘s business and industry; the expected growth of the cloud service market in China; the expectation regarding the rate at which to gain customers, especially Premium Customers; Kingsoft Cloud’s ability to monetize the customer base; fluctuations in general economic and business conditions in China; and the economy in China and elsewhere generally; China’s political or social conditions and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Kingsoft Cloud’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Kingsoft Cloud does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About Kingsoft Cloud Holdings Limited

Kingsoft Cloud Holdings Limited (NASDAQ: KC and HKEX:3896) is a leading  cloud service provider in China. With extensive cloud infrastructure, cutting-edge cloud-native products based on vigorous cloud technology  research and development capabilities, well-architected industry-specific  solutions and end-to-end fulfillment and deployment, Kingsoft Cloud offers comprehensive, reliable and trusted cloud service to customers in strategically selected verticals.

For more information, please visit: http://ir.ksyun.com.

For investor and media inquiries, please contact:

Kingsoft Cloud Holdings Limited
Nicole Shan
Tel: +86 (10) 6292-7777 Ext. 6300
Email: ksc-ir@kingsoft.com 

 

KINGSOFT CLOUD HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands)

Dec 31,
2024

Mar 31,
2025

Mar 31,
2025

RMB

RMB

US$

ASSETS

Current assets:

Cash and cash equivalents

2,648,764

2,322,674

320,073

Restricted cash

81,337

63,670

8,774

Accounts receivable, net

1,468,663

1,807,011

249,013

Short-term investments

90,422

60,245

8,302

Prepayments and other assets

2,233,074

2,254,813

310,722

Amounts due from related parties

318,526

629,876

86,799

Total current assets

6,840,786

7,138,289

983,683

Non-current assets:

Property and equipment, net

4,630,052

6,514,205

897,681

Intangible assets, net

694,880

660,926

91,078

Goodwill

4,605,724

4,605,724

634,686

Prepayments and other assets

449,983

444,555

61,261

Equity investments

234,182

232,790

32,079

Operating lease right-of-use assets

137,047

124,585

17,168

Total non-current assets

10,751,868

12,582,785

1,733,953

Total assets

17,592,654

19,721,074

2,717,636

LIABILITIES, NON-CONTROLLING
INTERESTS AND SHAREHOLDERS’ EQUITY

Current liabilities:

Accounts payable

1,877,004

2,040,574

281,199

Accrued expenses and other current liabilities

3,341,990

3,616,908

498,423

Short-term borrowings

2,225,765

2,550,970

351,533

Income tax payable

69,219

75,532

10,409

Amounts due to related parties

1,584,199

1,471,400

202,764

Current operating lease liabilities

61,258

42,459

5,851

Total current liabilities

9,159,435

9,797,843

1,350,179

Non-current liabilities:

Long-term borrowings

1,660,584

1,997,371

275,245

Amounts due to related parties 

309,612

494,982

68,210

Deferred tax liabilities

101,677

89,725

12,364

Other liabilities

790,271

1,932,576

266,316

Non-current operating lease liabilities 

65,755

63,932

8,810

Total non-current liabilities

2,927,899

4,578,586

630,945

Total liabilities

12,087,334

14,376,429

1,981,124

Shareholders’ equity:

Ordinary shares

25,689

25,689

3,540

Treasury stock

(105,478)

(88,114)

(12,142)

Additional paid-in capital

18,940,885

19,071,212

2,628,083

Statutory reserves funds

32,001

32,001

4,410

Accumulated deficit

(14,291,957)

(14,605,883)

(2,012,744)

Accumulated other comprehensive income

566,900

574,660

79,190

Total Kingsoft Cloud Holdings Limited
shareholders’ equity

5,168,040

5,009,565

690,337

Non-controlling interests

337,280

335,080

46,175

Total equity

5,505,320

5,344,645

736,512

Total liabilities, non-controlling interests
and shareholders’ equity

17,592,654

19,721,074

2,717,636

 

 

KINGSOFT CLOUD HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

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

Three Months Ended

Mar 31,
2024

Dec 31,
2024

Mar 31,
2025

Mar 31,
2025

RMB

RMB

RMB

US$

Revenues:

Public cloud services

1,187,370

1,409,804

1,353,479

186,514

Enterprise cloud services

588,162

822,338

616,498

84,956

Others

152

–

–

–

Total revenues

1,775,684

2,232,142

1,969,977

271,470

Cost of revenues

(1,482,431)

(1,806,170)

(1,651,671)

(227,606)

Gross profit  

293,253

425,972

318,306

43,864

Operating expenses:

Selling and marketing expenses

(116,752)

(115,792)

(144,338)

(19,890)

General and administrative expenses

(218,695)

(179,536)

(181,999)

(25,080)

Research and development expenses

(231,963)

(174,155)

(226,170)

(31,167)

Total operating expenses

(567,410)

(469,483)

(552,507)

(76,137)

Operating loss

(274,157)

(43,511)

(234,201)

(32,273)

Interest income

8,370

4,176

4,946

682

Interest expense

(51,066)

(61,821)

(82,897)

(11,424)

Foreign exchange (loss) gain 

(42,737)

(105,572)

9,051

1,247

Other (loss) gain, net

(8,207)

(2,956)

3,244

447

Other (expense) income, net

(11,190)

5,336

(7,012)

(966)

Loss before income taxes

(378,987)

(204,348)

(306,869)

(42,287)

Income tax benefit (expense) 

15,371

3,706

(9,241)

(1,273)

Net loss

(363,616)

(200,642)

(316,110)

(43,560)

Less: net loss attributable to non-
controlling interests

(4,206)

(3,683)

(2,184)

(301)

Net loss attributable to Kingsoft
Cloud Holdings Limited

(359,410)

(196,959)

(313,926)

(43,259)

Net loss per share:

Basic and diluted

(0.10)

(0.05)

(0.08)

(0.01)

Shares used in the net loss per
share computation:

Basic and diluted

3,614,662,846

3,710,632,202

3,728,092,123

3,728,092,123

Other comprehensive income, net
of tax of nil:

Foreign currency translation
adjustments

20,704

103,658

7,744

1,067

Comprehensive loss

(342,912)

(96,984)

(308,366)

(42,493)

Less: Comprehensive loss
attributable to non-controlling
interests

(4,247)

(3,667)

(2,200)

(303)

Comprehensive loss attributable
to Kingsoft Cloud Holdings
Limited shareholders

(338,665)

(93,317)

(306,166)

(42,190)

 

 

KINGSOFT CLOUD HOLDINGS LIMITED

RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for percentage)

Three Months Ended

Mar 31,
2024

Dec 31,
2024

Mar 31,
2025

Mar 31,
2025

RMB

RMB

RMB

US$

Gross profit

293,253

425,972

318,306

43,864

Adjustments:

– Share-based compensation expenses (allocated in cost of
revenues)

5,814

1,726

9,365

1,291

Adjusted gross profit (Non-GAAP Financial Measure)

299,067

427,698

327,671

45,155

 

 

KINGSOFT CLOUD HOLDINGS LIMITED

RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for percentage)

Three Months Ended

Mar 31,
2024

Dec 31,
2024

Mar 31,
2025

Gross margin

16.5 %

19.1 %

16.2 %

Adjusted gross margin (Non-GAAP Financial Measure)

16.8 %

19.2 %

16.6 %

 

 

KINGSOFT CLOUD HOLDINGS LIMITED

RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for percentage)

Three Months Ended

Mar 31,
2024

Dec 31,
2024

Mar 31,
2025

Mar 31,
2025

RMB

RMB

RMB

US$

Net Loss

(363,616)

(200,642)

(316,110)

(43,560)

Adjustments:

– Share-based compensation expenses

103,595

24,774

134,611

18,550

– Foreign exchange loss (gain) 

42,737

105,572

(9,051)

(1,247)

Adjusted net loss (Non-GAAP Financial Measure)

(217,284)

(70,296)

(190,550)

(26,257)

Adjustments:

– Interest income

(8,370)

(4,176)

(4,946)

(682)

– Interest expense

51,066

61,821

82,897

11,424

– Income tax (benefit) expense

(15,371)

(3,706)

9,241

1,273

– Depreciation and amortization

223,146

376,100

421,901

58,140

Adjusted EBITDA (Non-GAAP Financial Measure)

33,187

359,743

318,543

43,898

– Gain on disposal of property and equipment

(23,821)

(10,137)

(2,110)

(291)

Excluding gain on disposal of property and equipment,
normalized Adjusted EBITDA

9,366

349,606

316,433

43,607

 

 

KINGSOFT CLOUD HOLDINGS LIMITED

RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for percentage)

Three Months Ended

Mar 31,
2024

Dec 31,
2024

Mar 31,
2025

Mar 31,
2025

RMB

RMB

RMB

US$

Operating loss

(274,157)

(43,511)

(234,201)

(32,273)

Adjustments:

– Share-based compensation expenses 

103,595

24,774

134,611

18,550

– Amortization of intangible assets

43,517

43,104

43,781

6,033

Adjusted operating (loss) profit (Non-GAAP Financial
Measure)

(127,045)

24,367

(55,809)

(7,690)

– Gain on disposal of property and equipment

(23,821)

(10,137)

(2,110)

(291)

Excluding gain on disposal of property and equipment,
normalized Adjusted operating (loss) profit

(150,866)

14,230

(57,919)

(7,981)

 

 

KINGSOFT CLOUD HOLDINGS LIMITED

RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for percentage)

Three Months Ended

Mar 31,
2024

Dec 31,
2024

Mar 31,
2025

Net loss margin

-20.5 %

-9.0 %

-16.0 %

Adjusted net loss margin (Non-GAAP Financial Measure)

-12.2 %

-3.1 %

-9.7 %

Adjusted EBITDA margin (Non-GAAP Financial Measure)

1.9 %

16.1 %

16.2 %

Normalized Adjusted EBITDA margin

0.5 %

15.7 %

16.1 %

Adjusted operating (loss) profit margin (Non-GAAP Financial Measure)

-7.2 %

1.1 %

-2.8 %

Normalized Adjusted operating (loss) profit margin

-8.5 %

0.6 %

-2.9 %

 

 

KINGSOFT CLOUD HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(All amounts in thousands)

Three Months Ended

Mar 31,
2024

Dec 31,
2024

Mar 31,
2025

Mar 31,
2025

RMB

RMB

RMB

US$

Net cash (used in) generated from operating activities

(321,336)

570,222

(418,390)

(57,656)

Net cash used in investing activities

(1,169,017)

(1,337,978)

(490,393)

(67,578)

Net cash  generated from financing activities

1,112,096

1,802,762

549,998

75,792

Effect of exchange rate changes on cash, cash equivalents and
restricted cash

(20,464)

(15,294)

15,028

2,071

Net (decrease) increase in cash, cash equivalents and restricted cash

(398,721)

1,019,712

(343,757)

(47,371)

Cash, cash equivalents and restricted cash at beginning of period

2,489,481

1,710,389

2,730,101

376,218

Cash, cash equivalents and restricted cash at end of period

2,090,760

2,730,101

2,386,344

328,847

 

 

Vinfast showcases the VF 6 right-hand drive for the first time at IIMS Surabaya 2025

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SURABAYA, INDONESIA – Media OutReach Newswire – 28 May 2025 – VinFast has announced its participation in the Indonesia International Motor Show (IIMS) Surabaya 2025, where it will feature the largest booth at the event. Significantly, the VF 6 B-segment SUV will be showcased for the first time in Indonesia, expanding VinFast’s diverse product portfolio to better serve the country’s varied mobility needs. This move marks an important milestone in VinFast’s expansion strategy, underscoring its commitment to establishing a strong presence in the Indonesian market.

The right-hand drive VinFast VF 6 showcased for the first time at IIMS Surabaya 2025, priced from just 396,995,000 IDR.
The right-hand drive VinFast VF 6 showcased for the first time at IIMS Surabaya 2025, priced from just 396,995,000 IDR.

At the exhibition, VinFast will showcase its complete range of electric vehicle models currently available in the market, spanning the most popular segments: VF 3, VF 5, VF 6, and VF e34.

At the heart of the display is the VF 6, a B-segment electric SUV officially opened for sales in early May 2025. The VF 6 has a modern, tech-savvy design that is well-suited for a wide range of mobility needs, especially in urban environment. This will be the first public showcase of the VF 6 right-hand drive version, offering visitors a firsthand and engaging experience.

The VF 6 is available in two trims – Eco and Plus – with starting prices of 396,995,000 IDR and 451,600,000 IDR respectively (OTR East Java), offering flexible options that cater to the diverse needs and budgets of Indonesian consumers.

VinFast continues to apply attractive sales policies for the VF 6, including free charging at VinFast stations (operated by V-GREEN) through March 1, 2028, and an accessory gift package valued at 13,345,000 IDR.

During IIMS Surabaya, VinFast is introducing additional limited benefits for VF 6 customers. These include cashback of up to 15,000,000 IDR, along with one year of complimentary comprehensive risk insurance provided by Tugu Insurance for all cash purchases made before June 30, 2025.

In collaboration with its trusted financial partner Adira Finance, VinFast is also offering flexible financing solutions across its entire vehicle lineup at IIMS Surabaya. Customers can drive home a VinFast car with an initial payment starting from just 28,020,000 IDR, monthly installments from 3,921,000 IDR, or opt for a 0% interest financing plan.

Visitors to the VinFast booth will have the opportunity to participate in a lucky draw for a chance to win special prizes, including a brand-new VF 5.

In addition to special sales programs during the launch phase and at the event, VinFast continues to apply an attractive vehicle exchange and buy-back policy, offering up to 90% of the vehicle’s value after 6 months and 70% after 3 years for all VinFast models in Indonesia. This policy provides customers with greater peace of mind when choosing a VinFast EV and the flexibility to upgrade their vehicle based on evolving needs.

At the event, customers can also explore VinFast’s comprehensive green mobility ecosystem, including home and public charging solutions, a smart vehicle management app, and exceptional after-sales services.

VinFast announces limited-time offers for VF 6 buyers and other EV models at the event.
VinFast announces limited-time offers for VF 6 buyers and other EV models at the event.

Mr. Kariyanto Hardjosoemarto, CEO of VinFast Indonesia, shared: “IIMS Surabaya presents an important opportunity for VinFast to connect with Indonesian consumers, especially in East Java, one of our key target markets. Indonesia is currently one of the markets with the most diverse VinFast product portfolio and is the first market to feature the right-hand drive version of the VF 6. This reaffirms our commitment to providing customers with more sustainable, smart, and practical transportation options.”

Surabaya, alongside Jakarta, is one of Indonesia’s major economic hubs, with a large population and rising transportation demand. VinFast’s presence at IIMS Surabaya is part of its broader strategy to expand its distribution and service network nationwide, bringing its electric vehicles closer to customers across the country. The company has already established 20 authorized service centers, 25 third-party workshop and 22 dealerships in Indonesia, including 7 locations in East Java.

Alongside expanding its product lineup, VinFast is steadily developing a comprehensive support ecosystem. In Indonesia, VinFast owners can already enjoy free charging at V-GREEN-operated stations nationwide, to enhance convenience and accessibility. Customers also benefit from industry-leading warranty and aftersales policies, demonstrating VinFast’s long-term commitment to the Indonesian market.

Hashtag: #vinfast

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

About VinFast

VinFast (NASDAQ: VFS), a subsidiary of Vingroup JSC, one of Vietnam’s largest conglomerates, is a pure-play electric vehicle (“EV”) manufacturer with the mission of making EVs accessible to everyone. VinFast’s product lineup today includes a wide range of electric SUVs, e-scooters, and e-buses.

VinFast is currently embarking on its next growth phase through rapid expansion of its distribution and dealership network globally and increasing its manufacturing capacities with a focus on key markets across North America, Europe and Asia. Learn more at:

Socialsuite Unveils First-of-Its-Kind AI-Driven Double Materiality Software for CSRD Compliance

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AUSTIN, Texas, May 28, 2025 /PRNewswire/ — Socialsuite, a leader in sustainability risk management technology, announces the launch of its groundbreaking AI-driven double materiality software —an end-to-end solution designed to help organizations navigate the complexities of the Corporate Sustainability Reporting Directive (CSRD) with confidence. This first-of-its-kind platform combines stakeholder engagement data capabilities with AI-powered benchmarking enabling compliance alignment with ESRS and ISSB standards to revolutionize the mandated double materiality assessment process.

“As organizations face increasing regulatory pressure, they need a solution that not only ensures compliance but also streamlines and enhances their materiality risk assessments,” said Seth Forman, CEO of Socialsuite. “Our new platform combines cutting-edge AI with collaborative project management tools, helping companies reduce the time and cost of conducting a double materiality assessment by up to 80%.”

“Socialsuite’s platform is filling a major ESG tech stack gap. Its ability to map dependencies, business activities, and relationships across the value chain and digitally connect flexibly score IROs truly sets it apart from other providers” said Jeffrey Crawford, Managing Director of Azuri.

Key Benefits and Features

  • End-to-End Management: Eliminate spreadsheets with a structured, collaborative approach that centralizes stakeholder engagement, materiality data, and documentation into one auditable, intuitive platform.
  • AI-Driven Insights: Uses intelligent benchmarking to identify industry trends, assess impacts, risks, and opportunities, and guide strategic decision-making.
  • Compliance Made Simple: Built-in alignment with CSRD and IFRS standards ensures confident and credible reporting.

Trusted by Industry Leaders

Industry leaders, including in-house sustainability teams and consultants, already recognize the value of Socialsuite’s technology in strengthening their double materiality assessments and sustainability strategies.

“Socialsuite has been a game-changer for us. Their platform and expertise made our materiality assessment so much smoother and faster. We got deeper insights from stakeholders, which really strengthened our reporting and strategy. Thanks to Socialsuite, we’re raising the game in sustainability for our industry.” – Renata Lopes, Head of Sustainability at Tabcorp

“Socialsuite’s combination of innovative technology and expert advisory support helped us navigate the complexities of sustainability in our sector. The materiality assessment process gave us clear insights into the priorities of our stakeholders, eliminating the guesswork and providing us with a strategic roadmap for the future.” – Kai Martin, Chief Sustainability Officer at The Pasha Group

As organizations worldwide prepare for CSRD mandates, Socialsuite provides a practical, efficient, and scalable solution to one of sustainability reporting’s biggest challenges. To learn more about the Socialsuite double materiality software, visit www.socialsuitehq.com/csrd.

Media Contact:
Kate Smith
Senior Marketing Associate
Socialsuite
kate@socialsuitehq.com

 

HKU School of Computing and Data Science Hosts Opening Ceremony for Global Asia Insurance Partnership (GAIP) Insurance Innovation Competition 2025

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HONG KONG, May 28, 2025 /PRNewswire/ — The School of Computing and Data Science (CDS), The University of Hong Kong (HKU) hosted the opening ceremony of the Global Asia Insurance Partnership (GAIP) Insurance Innovation Competition 2025 on 28 May. The event marked the official commencement of this competition, which aims to foster innovation and strategic thinking within the insurance industry.

From the left: Ms Jasmine Kwong, Communications and Committee Manager of Hong Kong Federation of Insurers, Mr Steve Hui, President of The Actuarial Society of Hong Kong (ASHK), Professor Yi Ma, Director of School of Computing and Data Science, Ms Candy Au Yeung, Chief Customer Operations and Health Officer of Prudential Hong Kong, and Dr Bowen Wong, Honourary Secretary of Life Underwriters Association of Hong Kong
From the left: Ms Jasmine Kwong, Communications and Committee Manager of Hong Kong Federation of Insurers, Mr Steve Hui, President of The Actuarial Society of Hong Kong (ASHK), Professor Yi Ma, Director of School of Computing and Data Science, Ms Candy Au Yeung, Chief Customer Operations and Health Officer of Prudential Hong Kong, and Dr Bowen Wong, Honourary Secretary of Life Underwriters Association of Hong Kong

Organised by CDS with the support of the Actuarial Society of Hong Kong (ASHK) and solely sponsored by Prudential Hong Kong, this year the topic of the GAIP Insurance Innovation Competition 2025 (Hong Kong Station) is ‘Insurance Innovation’, which provides a platform for students to showcase their analytical, research, and presentation skills by proposing real-world innovations in the insurance sector.

The ceremony was officiated by esteemed guests, including Professor Yi Ma, Director of CDS; Ms Candy Au Yeung, Chief Customer Operations and Health Officer of Prudential Hong Kong; Mr Steve Hui, President of The Actuarial Society of Hong Kong (ASHK); Ms Jasmine Kwong, Communications and Committee Manager of Hong Kong Federation of Insurers and Dr Bowen Wong, Honourary Secretary of Life Underwriters Association of Hong Kong.

Professor Yi MA, articulated that the competition provides a unique opportunity for students to try out their ideas, expand their networks, and engage with industry leaders. He stated, “We are proud to host the GAIP Insurance Innovation Competition at HKU for the first time, and it is also the very first student competition hosted by our School since our official establishment last year, marking an exciting milestone for us.”

The GAIP Insurance Innovation Competition is an annual event organised by the Nanyang Technological University (NTU) and Global-Asia Insurance Partnership (GAIP) Organising Committee. The competition features two rounds: a local round hosted by partner university and a global final round held in Nanyang Technological University in Singapore. HKU is the 2025 local host and will bring in talents from different universities. The winning team will represent Hong Kong SAR and compete with other representatives of prestigious universities from countries including Australia, Indonesia, Japan, and Switzerland.

NTU expressed that “with HKU’s participation, the competition has become a truly global platform that connects emerging talents like students in Hong Kong to tackle real-world challenges under risk resilience and insurance. It is inspiring to see the creativity and passion from the participants here today in Hong Kong.”

The competition offers students the opportunity to showcase innovative solutions that could revolutionise the insurance industry. Entries will be evaluated based on the team’s analysis, creativity and innovation, feasibility and implementation, as well as presentation and communication.

Candy Au Yeung, Chief Customer Operations and Health Officer of Prudential Hong Kong said, “Prudential believes innovation is key to building a customer-centric, digitally empowered insurance experience. Sponsoring the GAIP Insurance Innovation Competition reflects our commitment to nurturing young talent and supporting bold ideas that can shape the future of health and protection. We are proud to support a platform that fosters creativity and collaboration.”

Additionally, participants stand to win cash prizes range from USD3,000 to USD15,000. Beyond prizes, participants will gain valuable insights, network with industry leaders, and enhance their professional prospects. Registration is now open until 6 June 2025.

About School of Computing and Data Science
Officially established on 1 July 2024, the School of Computing and Data Science is set to reform traditional educational frameworks to meet the needs of an ever-changing industry. Offering a variety of undergraduate and postgraduate programmes, the School is poised to play a pivotal role in shaping the future of technology and data science education.

Images download: https://shorturl.at/uc1Tu

Long-term Commitment to Treating Endometriosis and Improving Women’s Quality of Life – Gedeon Richter at the World Congress on Endometriosis

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SYDNEY, May 28, 2025 /PRNewswire/ —Gedeon Richter had a strong presence at the World Congress of Endometriosis held this year in Sydney, Australia between 21-24 May 2025. As a Platinum Sponsor Gedeon Richter could reaffirm its innovation driven and long-term commitment in the field of endometriosis and in women’s health.

The company hosted a highly successful symposium titled Delving into Endometriosis Pain Management: From Adolescence to Family Planning, chaired by Prof. Neil Johnson. The session featured Prof. Rebecca Deans (Australia) on the early management of endometriosis in adolescence, Prof. Jason Abbott (Australia) on pain control and quality of life in adulthood, and Prof. Juan García-Velasco (Spain) on fertility challenges and family planning. This comprehensive agenda reflects Gedeon Richter’s focus on two closely linked areas, endometriosis and infertility, and its dedication to supporting women. Besides the expert-led scientific symposium, Gedeon Richter’s booth showcased the medical options offered for the management of endometriosis in the exhibition area as well.

Being Platinum Sponsors of WCE enabled us to show our dedication to endometriosis care with holistic, patient-centric mindset addressing both physical and emotional dimensions of women’s health. Endometriosis is a chronic, painful condition affecting over 190 million women worldwide, with an ever-increasing prevalence rate. It occurs when tissue similar to the lining of the uterus grows outside the uterine cavity, leading to inflammation, scarring, and significant pain.

Beyond physical discomfort, endometriosis can seriously impact fertility and overall quality of life, requiring effective medical treatment. Gedeon Richter markets the first and only globally available Relugolix combination therapy, for the treatment of moderate to severe symptoms of uterine fibroids and symptomatic endometriosis. This GnRH antagonist combines multiple active ingredients to effectively target the disease mechanism, offering symptom relief in a once-daily oral therapy. Its convenience, safety and proven efficacy allows women to manage their conditions without resorting to surgery.

“As one of Europe’s leading pharmaceutical companies in the women’s healthcare segment, Gedeon Richter is committed to providing modern and progressive solutions on a global scale. We believe that the continuous development of therapeutic options, such as our innovative medicine for endometriosis and our fertility products, will enable millions of women around the world to improve their quality of life,” said Dr. Peter Turek, Global Head of Gedeon Richter’s Women’s Healthcare Business Unit.

Dimitra and MANTRA Partner to Tokenize Real-World Agricultural Assets for Real Impact

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DUBAI, UAE, May 28, 2025 /PRNewswire/ — Dimitra, a global leader in agriculture technology and sustainability solutions – that leverages blockchain and artificial intelligence to support farmers – has partnered with MANTRA, a layer 1 blockchain platform focused on real-world assets (RWAs). This collaboration aims to bring green agricultural assets onchain, offering innovative ways for farmers to finance their activities, and enable global investors to engage in sustainable value creation.

Dimitra uses blockchain and artificial intelligence to help smallholder farmers boost productivity and build more resilient agricultural systems. MANTRA brings a secure, regulation-friendly blockchain designed for tokenizing real-world assets, across real estate, commodities, and agriculture. Together, they will unlock new pathways to connect high-impact farming projects with investors seeking transparent, asset-backed opportunities that deliver both returns and positive change.

The first phase of the partnership will focus on cacao production in the Amazon region of Brazil and carbon credit projects in Mexico. In Brazil, Dimitra is working with smallholder farmers to improve cacao yields through the Connected Cacao platform, designed to provide tools for soil analysis, crop monitoring, AI technical assistance and regenerative best practices. Cacao is a high-demand crop, especially among chocolate producers. Tokenizing cacao-based RWAs can open new paths for financing infrastructure, traceability and farmer incentives, making the entire value chain more profitable and transparent.

In Mexico, Dimitra and MANTRA will leverage Dimitra’s carbon monitoring tools to support a forest conservation project covering over 20,000 hectares, with the potential to generate nearly one million carbon credits in the next ten years. These efforts will produce 100% traceable carbon credits, making it easier to verify, trade and invest. As the global demand for carbon credits continues to rise, tokenization of carbon projects offers a path to broader access and greater impact.

While the initial projects will focus on Brazil and Mexico, this partnership will establish a framework for tokenizing agricultural projects worldwide. Dimitra’s portfolio includes dozens of agricultural projects in Latin America, Africa and Asia. Many of these projects are economically sound, but struggle to attract funding. With MANTRA’s infrastructure, these initiatives can be turned into investable opportunities that appeal to a growing number of people and institutions looking to make a real impact with real returns.

“This partnership is about unlocking new value from the real economy,” said Jon Trask, CEO of Dimitra. “Through MANTRA’s platform, we’ll be able to turn powerful, regenerative agricultural projects into accessible investment opportunities, benefiting both farmers and investors.”

“Tokenizing agriculture isn’t just about innovation, it’s about finding solutions to real-world issues long associated with food supply – at scale – and for long-term impact,” said John Patrick Mullin, CEO of MANTRA. “Dimitra is solving real-world problems, with a focus on traceability and transparency – and we’re proud to help bring those to a wider audience. MANTRA Chain was built to support projects like these.”

The partnership follows a string of strong developments from MANTRA, which continues to build momentum in the real-world asset space. Earlier this year, MANTRA was awarded the first DeFi license from Dubai’s Virtual Assets Regulatory Authority (VARA) to operate as a Virtual Asset Exchange, as well as provide Broker-Dealer and Management and Investment Services. It also launched the RWAccelerator – a start-up program for builders and startups supported by Google Cloud.

About Dimitra

Dimitra is a leading AI and blockchain-based platform for AgTech driving productive, intelligent and inclusive farming. Dimitra empowers farmers to make their processes smarter through actionable data-driven insights. Now working with farmers and co-ops across 35 countries, Dimitra’s AI-driven solutions equip farmers, agribusinesses, and governments with cutting-edge technology to combat deforestation, increase yields, reduce costs, and mitigate risks. Dimitra ensures seamless access to precision agriculture, supply chain transparency, carbon credit generation, and regulatory compliance.

About Mantra
 MANTRA  is a purpose-built Layer 1 blockchain for real-world assets, capable of adherence to real-world regulatory requirements. As a permissionless chain, MANTRA Chain empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced technology modules, compliance mechanisms, and cross-chain interoperability. MANTRA holds a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), to operate as a Virtual Asset Exchange, as well as provide Broker-Dealer and Management and Investment Services.

IonOpticks Generation 4 Aurora Series® sets a new benchmark in chromatography

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MELBOURNE, Australia, May 28, 2025 /PRNewswire/ — IonOpticks, developer of the highest-performing chromatography columns for mass spectrometry research, today announces the launch of its 4th Generation of Aurora Series columns. Following extensive testing by leading proteomics researchers, the latest generation further strengthens the qualities that made the Aurora Series® famous, offering enhanced robustness, longevity, spray stability and reproducibility, while still delivering a best-in-class balance of throughput, sensitivity and depth of coverage in sample analysis. These performance gains enable Generation 4 Aurora Series® columns to withstand demanding conditions, offering a practical solution for laboratories under pressure to produce reliable data with fewer resources.

The Generation 4 Aurora Series® features an expanded range of 150 μm capillary flow columns designed for modern proteomics workflows. These columns deliver high-throughput analysis of complex samples while maintaining sensitivity. Notably, the introduction of the 150 μm columns brings improvements that are especially valuable for high-impact applications such as drug discovery, clinical proteomics, and bioprocessing development, where consistency and data reliability are essential.

Today also marks the introduction of IonOpticks’ HeatSync™ product family, developed to provide a more efficient and user-friendly suite of accessories for column heating at the source. The HeatSync™ ecosystem enables precise temperature control and includes a controller, column heater, regulator, and a dedicated housing for columns shorter than 8 cm. Its streamlined design minimises complexity, allowing researchers to focus on scientific discovery rather than managing equipment.

“As research budgets tighten, the need for smarter, more efficient solutions is more important than ever. Chromatography is the key determinant in the overall performance of an LC-MS system.  By upgrading from inferior column products to IonOpticks’ Gen 4 Aurora Series, researchers can unlock exceptional performance uplifts from their existing mass specs, without the need for costly instrument upgrades,” says Xavier Perronnet, Chief Executive Officer of IonOpticks.

“For those with the latest flagship mass spec offerings, IonOpticks Aurora Series has shown      time and again to be the only columns with the separation capacity to unlock the true power of these advanced instruments. With an expanded capillary range and our HeatSync accessories, Generation 4 Aurora Series columns reflect  our relentless pursuit of practical innovation and our dedication to advancing LC-MS to service an increasingly diverse range of applications,” Perronnet continues.

The latest enhancements and expanded product range embodied in Generation 4 address the key points of demand IonOpticks has distilled from extensive collaborations with the scientific community. Designed for stability across extended workflows, Generation 4 Aurora Series® columns support uninterrupted research for more complete proteomic coverage and greater confidence in quantification.

“As scientists, we understand how critical reproducibility and accuracy are to advancing proteomics research,” explains Dr Jarrod Sandow, Chief Product Officer at IonOpticks. “With Gen 4 Aurora Series, we’ve built on our customers’ feedback to deliver enhanced performance that truly pushes the boundaries. This launch marks an important step forward, designed to meet the changing demands of the research community and accelerate scientific discovery.”

“The collaboration behind this product is unmatched. We don’t innovate in isolation. We work closely with researchers to understand their challenges and ensure our products address them head-on. Generation 4 Aurora Series is the culmination of this partnership, delivering cutting-edge solutions that empower researchers to achieve even more, faster and more efficiently,” adds Dr Sandow.

Explore the full Generation 4 Aurora Series® to see how these advanced columns support more efficient workflows and help ensure that no potential breakthrough goes undetected.

About IonOpticks
IonOpticks produces high-performance chromatography solutions for the global research community enhancing mass spectrometry (LC-MS) and high-end proteomics research. Their solutions enhance the sensitivity of mass spectrometry sample analysis, enabling scientists and clinicians to discover more from their samples. These advancements are valuable for a broad range of applications within the field of biological and medical research including drug discovery, phosphoproteomics and shotgun proteomics.

https://ionopticks.com/

Formosa Pharmaceuticals and Adalvo Limited Announce Licensing Agreement for Clobetasol Propionate Ophthalmic Suspension for the Treatment of Ocular Inflammation and Pain

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TAIPEI, May 28, 2025 /PRNewswire/ — Taiwan-based Formosa Pharmaceuticals (“Formosa”, 6838.TW) announced that the company has entered into an exclusive licensing agreement with Adalvo Limited (“Adalvo”) in the European and Brazilian markets for exclusive rights to the commercialization of clobetasol propionate ophthalmic suspension, 0.05% (APP13007), a marketed innovative treatment of post-operative inflammation and pain following ocular surgery.  Adalvo, a global pharma and top-three B2B company in Europe, was founded in 2018 and specializes in market access through a flexible and innovative business strategy.  With nearly 1100 drug launches since its inception, Adalvo boasts over 170 commercial partners providing therapies in over 130 countries covering a vast array of indications and technologies. The licensing agreement with Adalvo includes upfront payment, sales milestones, and profit sharing, with additional considerations throughout the term of the agreement.

APP13007’s active ingredient is the superpotent corticosteroid, clobetasol propionate, and is derived from Formosa Pharma’s proprietary APNT® nanoparticle formulation platform.  The novel formulation, approved by the US FDA in 2024, enables a convenient and straightforward dosing regimen (twice daily for 14 days) while providing rapid and sustained relief of inflammation and pain. In a US survey of 100 ophthalmic surgeons, rapid resolution of pain (~80% pain-free four days post-surgery) and low incidence of adverse events (<2%) were highlighted as key drivers to prescribing APP13007. 

The European ophthalmology market reached $16 billion in 2024, with Germany and the UK leading as the largest markets. Cataract surgery is among the most common procedures performed in EU hospitals, driving demand for effective post-operative treatments. Looking ahead, the ocular surgery segment is projected to grow to $38 billion by 2032.

“Formosa Pharma welcomes this partnership with Adalvo to complete our licensing endeavors in the European markets.  Adalvo’s formidable presence and expertise throughout the region is renowned, and we appreciate their recognition of APP13007 as a worthy addition to their vast portfolio of innovative and impactful medicines.” said Erick Co, President and CEO of Formosa Pharmaceuticals.

“This collaboration reflects Adalvo’s continued commitment to expanding access to novel and differentiated treatments across key therapeutic areas,” said Anil Okay, CEO of Adalvo. “We are pleased to partner with Formosa to bring this valuable ophthalmic asset to new markets.”

About Formosa Pharmaceuticals, Inc.

Formosa Pharmaceuticals, Inc. (6838.TW) is a clinical stage biotechnology company with primary focus in the areas of ophthalmology and oncology.  The company’s proprietary nanoparticle formulation technology (APNT®), through which APP13007 was developed, improves the dissolution and bioavailability of APIs for topical, oral, and inhaler administration.  Resulting formulations have high uniformity, purity, and stability, thereby allowing the utilization of poorly soluble or extremely potent drug agents which otherwise may face insurmountable challenges in safety, delivery, and penetration to target tissues.  For more details about Formosa Pharma and APNT®, visit www.formosapharma.com.

About Adalvo

Adalvo is a global pharmaceutical company, and one of the leading B2B pharmaceutical companies in Europe, with commercial partnerships in more than 130 countries and over 170 commercial partners globally. The company’s declared purpose is to make a difference for patients all over the world, driven by our smart collaboration network and commitment to delivering the highest quality differentiated products and services to our partners.

Adalvo takes pride in their ability to help partners reach their goals – be those increasing revenues or pushing into new markets. Tirelessly strives for excellence in all of its endeavours, driven by a deep-rooted passion for making a difference for partners.

The company’s purpose-driven culture is committed to improving the lives of patients around the world. Adalvo’s dynamic leadership team brings significant experience and industry know-how, which has helped to establish the company as a reliable global partner in the industry.

For more details about Adalvo, visit www.adalvo.com.

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