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Autoliv: Financial Report April – June 2025

STOCKHOLM, July 18, 2025 /PRNewswire/ —

Q2 2025: Q2 records for sales, operating income and margin as well as EPS

Financial highlights Q2 2025
$2,714 million net sales
4.2% net sales increase
3.4% organic sales growth*
9.1% operating margin
9.3% adjusted operating margin*
$2.16 diluted EPS, 27% increase
$2.21 adjusted diluted EPS*, 18% increase

Full year 2025 guidance
Around 3% organic sales growth
Around 0% FX effect on net sales
Around 10-10.5% adjusted operating margin
Around $1.2 billion operating cash flow

All change figures in this release compare to the same period of the previous year except when stated otherwise.

Key business developments in the second quarter of 2025

  • Net sales increased organically* by 3.4%, which was 0.7pp higher than the global LVP increase of 2.7% (S&P Global July 2025). Regional and customer LVP mix is estimated to have had about 2.5pp negative impact on sales, while tariff compensations added around 1pp to growth. We outperformed in Americas, Europe and Asia excl. China, mainly due to product launches and tariff compensations. In China, our growth gap vs. LVP was smaller compared to recent quarters, due to improved sales performance with Chinese OEMs. We expect that our record number of new launches will significantly improve our relative sales performance in China in the second half of 2025.
  • Profitability improved significantly, mainly due to organic sales growth and successful execution of cost reductions. Total headcount decreased by 5%. We estimate that the negative impact from U.S. tariffs was around 35bps on operating margin, as we managed to pass on most of the tariff costs to our customers. Operating income increased by 20% to $247 million and adjusted operating income* increased by 14% to $251 million. Operating margin was 9.1% and adjusted operating margin* was 9.3%. ROCE was 23.8% and adjusted ROCE* was 24.1%.
  • Operating cash flow was lower than last year, as Q2 2024 was boosted by positive, timing related working capital effects, while working capital changes in 2025 were more normal. This was partly offset by lower capex, net. The leverage ratio* of 1.3x is well below our target limit of 1.5x. In the quarter, a dividend of $0.70 per share was paid and 0.5 million shares were repurchased and retired.

*For non-U.S. GAAP measures see enclosed reconciliation tables.

Key Figures

(Dollars in millions, except per share data)

Q2 2025

Q2 2024

Change

6M 2025

6M 2024

Change

Net sales

$2,714

$2,605

4.2 %

$5,292

$5,220

1.4 %

Operating income

247

206

20 %

502

400

25 %

Adjusted operating income1)

251

221

14 %

506

420

21 %

Operating margin

9.1 %

7.9 %

1.2pp

9.5 %

7.7 %

1.8pp

Adjusted operating margin1)

9.3 %

8.5 %

0.8pp

9.6 %

8.0 %

1.5pp

Earnings per share – diluted

2.16

1.71

27 %

4.31

3.23

34 %

Adjusted earnings per share – diluted1)

2.21

1.87

18 %

4.36

3.45

27 %

Operating cash flow

277

340

(18) %

355

462

(23) %

Return on capital employed2)

23.8 %

21.0 %

2.7pp

24.8 %

20.4 %

4.3pp

Adjusted return on capital employed1,2)

24.1 %

22.5 %

1.6pp

25.0 %

21.4 %

3.6pp

1) Excluding effects from capacity alignments and antitrust related matters. Non-U.S. GAAP measure, see reconciliation table.
2) Annualized operating income and income from equity method investments, relative to average capital employed.

Comments from Mikael Bratt, President & CEO

I am pleased to, in a turbulent market environment, report a record breaking second quarter for sales, operating income and margin as well as EPS. The performance was driven by good sales development coupled with successful actions to reduce costs and achieve tariff compensations. We outperformed in Americas, Europe and Asia excl. China and continued to outperform global LVP despite strong headwinds from LVP mix shifts, particularly in China. Based on a positive trend during the second quarter and a record number of new launches we continue to expect significantly improved sales vs. LVP in China in the second half year.

We remain focused on operational efficiency, commercial excellence and our cost reduction programs. Direct headcount was reduced by 6% while sales grew 3% organically, which together with continued repurchases of shares, contributed to a 27% increase in EPS. We remain confident that we can continue to successfully receive compensation from our customers for tariffs, although the industry outlook for tariffs is uncertain. We recovered around 80% of tariff costs in the second quarter, and we expect to recover most of what remains later in the year. We continue to closely monitor and evaluate the situation, focusing on being adaptive and agile.

At our Capital Markets Day in June, we reiterated our financial targets and communicated a new share repurchase program of up to $2.5 billion until the end of 2029 as well as announced a 21% dividend increase for the third quarter to $0.85 per share. Our increased shareholder return ambitions are supported by our strong balance sheet and cash conversion.

Our 2025 guidance for organic sales growth has increased to around 3% due to tariff compensations, and we reiterate our guidance of an adjusted operating margin of around 10-10.5%.

Next Report

Autoliv intends to publish the quarterly earnings report for the third quarter of 2025 on Friday, October 17, 2025.

Inquiries: Investors and Analysts 

Anders Trapp
Vice President Investor Relations
Tel +46 (0)8 5872 0671

Henrik Kaar
Director Investor Relations
Tel +46 (0)8 5872 0614

Inquiries: Media 

Gabriella Etemad
Senior Vice President Communications
Tel +46 (0)70 612 6424

Autoliv, Inc. is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the VP of Investor Relations set out above, at 12.00 CET on July 18, 2025.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/autoliv/r/financial-report-april—june-2025,c4208810

The following files are available for download:

BLUETTI Apex 300 Hits $4.9M on Indiegogo Ahead of Retail Launch

Apex 300 redefines portable power for 2025, with strong demand across home and outdoor applications.

SYDNEY, July 18, 2025 /PRNewswire/ — BLUETTI, a global leader in clean energy solutions, has raised over $4.9 million from nearly 2,400 backers on Indiegogo for its new Apex 300 Portable Power Station, a versatile power system designed for home backup, Caravans, and off-grid use. With the campaign ending July 20 and retail availability set for August 1, demand continues to surge as early adopters validate its performance in real-world scenarios—from Emergency preparedness to road trips.

BLUETTI Apex 300 portable power station raised over $4.9 million on Indiegogo, becoming a standout innovation in energy and utilities tech.
BLUETTI Apex 300 portable power station raised over $4.9 million on Indiegogo, becoming a standout innovation in energy and utilities tech.

As BLUETTI’s latest flagship, the Apex 300 is built for a simple start and scales into a smarter energy ecosystem. From home cooking and cooling to hybrid emergency setups, it delivers reliable standalone performance and scalable potential in emergency power backup for home, caravan adventures, and everyday scenarios. “Feedback shared online continues to inspire the Apex 300’s development and reflects the genuine spirit of the BLUETTI community,” said James Ray, spokesperson for BLUETTI. “We’ll continue listening to our users and growing together—bringing clean energy into more homes, in more meaningful ways.”

Apex 300 Nears Indiegogo Finish, Retail Launch Ahead

The Apex 300 Portable Power Station is available now on Indiegogo starting at A$2,150, with exclusive ecosystem bundles and early backer perks. The campaign ends July 20, after which the Apex 300 enters Indiegogo InDemand at a higher price through July 31. Retail availability begins August 1 on the official BLUETTI store.

About BLUETTI

As a pioneer in clean energy technology, BLUETTI is committed to delivering reliable and innovative portable power stations for home backup and outdoor living. Trusted by over 3.5 million users across more than 110 countries and regions, BLUETTI continues to advance energy independence with a focus on long-term sustainability and responsible innovation. Through initiatives like LAAF (Light An African Family), the company supports broader access to clean, reliable energy in underserved regions—underscoring its ongoing commitment to environmental, social, and governance (ESG) values.

First Phosphate Signs Agreement with Port Saguenay to Establish Phosphoric Acid Plant

Saguenay, Quebec – Newsfile Corp. – July 18, 2025 – First Phosphate Corp. (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company“) announces that it has finalized an industrial land option agreement with Port of Saguenay (the “Port“) located in Saguenay, Quebec, Canada (the “Agreement“).

The Agreement marks progress on the memorandum of understanding (“MOU”) signed between the Company and the Port on October 12, 2022. Under the Agreement, First Phosphate has the exclusive right to enter into a definitive land lease with the Port by December 31, 2027, subject to various financial and development milestones and prior to anticipated facility construction beginning in 2028.

The Agreement covers lands where the Company plans to develop a phosphoric acid plant using advanced clean technology from Prayon SA of Belgium and to be implemented by international engineering firm Ballestra S.pA. of Italy. These lands offer strategic benefits and a competitive position, including:

  • Direct rail and vessel access to North American and global markets, especially to the company’s European offtakers
  • Access to large-scale industrial infrastructure, utilities and expansion lands
  • Eventual vertical integration between upstream phosphoric acid and downstream LFP battery material production

The Agreement was signed today in Montreal at the premises of the Wallonia Export & Investment Agency (“AWEX”). In attendance for the signing were:

  • Claude Guay, Member of Parliament for LaSalle-Émard-Verdun, Parliamentary Secretary to the Minister of Energy and Natural Resources, Canada
  • Mario Simard, Member of Parliament for Jonquière, Vice-Chair, Standing Committee on Natural Resources, Canada
  • Andrée Laforest, Deputy, Chicoutimi, Minister of Municipal Affairs and Housing, Government of Quebec
  • François Tremblay, Deputy, Dubuc, Government of Quebec
  • Anne Defourny, Trade/Investment Counsellor, Wallonia Export & Investment Agency
  • Carl Laberge, President and Board Chair, Port Saguenay
  • John Passalacqua, CEO, First Phosphate Corp.
  • David Dufour, Executive Vice-President, First Phosphate Corp.

Signing of Agreement between Port Saguenay and First Phosphate, in Montreal, at Wallonia Export & Investment Agency

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8917/259192_26de631ed464e9de_001full.jpg

“Our government’s ongoing investments in Port Saguenay will enable companies such as First Phosphate to process phosphate into phosphoric acid right here in Saguenay. We continue our efforts to ensure that our infrastructure is up to par for attracting businesses to the port and to our surrounding communities. We remain proactive and positive for our Saguenay-Lac-Saint-Jean region,” said Andrée Laforest, Member of Parliament for Chicoutimi, Minister of Municipal Affairs and Minister responsible for the Saguenay-Lac-Saint-Jean region, and François Tremblay, Member of Parliament for Dubuc.

“The new Government of Canada supports the development of critical minerals and the infrastructure needed to support them. Phosphate has been included by the federal government in the Canadian list of critical minerals to open doors for phosphate projects across Canada. This agreement demonstrates the economic opportunities these minerals bring to Canada and Quebec in the production and processing of critical minerals. We thank First Phosphate and the Port of Saguenay for their work in pursuing these opportunities. By working together, we will build the strongest economy in the G7,” said Claude Guay, Member of Parliament for LaSalle-Émard-Verdun and Parliamentary Secretary to the Minister of Energy and Natural Resources.

“I am delighted with today’s announcement: this is a major project for both the region and the whole of Quebec. Today, Saguenay-Lac-Saint-Jean is carving out a place for itself in the battery industry, and not just any place. This project is a symbol of sustainable economic development and is in line with our commitment to promoting projects that contribute to the energy transition,” said Mario Simard, Member of Parliament for Jonquière and Bloc Québécois spokesperson for Natural Resources.

“This agreement with First Phosphate confirms Saguenay’s central role in the development of the critical minerals sector in both Quebec and Canada,” said Saguenay Mayor Julie Dufour. “With our industrial infrastructure, strategic access to rail and maritime networks, and our strong commitment to welcoming innovative projects, Saguenay is proving its ability to attract major investment. This project aligns with our ambition to establish Saguenay as a key economic hub in northeastern Canada.”

“This agreement with First Phosphate confirms the strategic advantages and role of the Port of Saguenay as a natural logistics hub in northeastern Canada for the development of the critical minerals sector. It follows major investments and infrastructure projects currently underway in its industrial port zone and is in line with the collaboration agreement recently signed with North Sea Port, a strategic port area in Europe,” said Mr. Carl Laberge, President and CEO of Port Saguenay. “This agreement represents a significant step forward for economic diversification and the establishment of a promising industrial sector for Quebec and Canada.”

To view details on the facilities at Port Saguenay, please see: https://youtu.be/_mQZfQdA8Yw

Signature of Agreement between Port Saguenay and First Phosphate, in Saguenay, at Port Saguenay

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8917/259192_26de631ed464e9de_002full.jpg

About First Phosphate Corp

First Phosphate (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) is a mineral development company dedicated to producing high-purity phosphate for the LFP battery industry. The Company’s vertically integrated approach connects sustainable phosphate mining in Quebec with North American battery supply chains, targeting the energy storage, data center, robotics, mobility, and defense sectors. First Phosphate’s flagship Bégin-Lamarche Property in Saguenay-Lac-Saint-Jean is one of North America’s rare igneous phosphate resources, yielding high-purity phosphate with minimal impurities.

About Port Saguenay

The Saguenay Port authority (SPA), also known as the “Port of Saguenay”, is an autonomous federal public enterprise incorporated under the Canada Marine Act in 1999. It is one of the 17 Canadian Port Authorities (CPAs), recognized for its strategic importance and its contribution to the country’s economy. Located in the heart of Saguenay-Lac-St-Jean industrial region, the Port of Saguenay is a natural gateway to Northern Quebec and its extensive natural resources. Accessible all year round, its deep-water marine facilities are capable of accommodating some of the world’s largest ships. Accessible directly from major North American rail and highway networks, the Port is also renowned for the quality and availability of its infrastructure.

About the Walloon Export & Investment Agency in Quebec

The Wallonia Export and Investment Agency (“AWEX”) is a public interest organization created by the Walloon Region in 1998. It is the key partner for any Walloon company wishing to expand internationally and acts as a one-stop shop for any foreign company interested in establishing a presence in Wallonia. AWEX has maintained an office in Montreal for many years to strengthen trade relations between Wallonia and Quebec. It works in collaboration with the General Delegation Wallonia-Brussels based in Quebec City and the Embassy of Belgium in Ottawa.

For additional information, please contact:

Bennett Kurtz
Chief Financial Officer
bennett@firstphosphate.com
Tél: +1 (416) 200-0657

Investor Relations: investor@firstphosphate.com
Media Relations: media@firstphosphate.com
Website: www.FirstPhosphate.com

Follow First Phosphate:

X: https://x.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate

Forward-Looking Information and Cautionary Statements

This news release contains certain statements and information that may be considered “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved” and other similar expressions. In addition, statements in this news release that are not historical facts are forward-looking statements, including, among other things: the Company’s planned exploration and production activities; the properties and composition of any extracted phosphate; the Company’s plans for vertical integration into North American supply chains, the Company’s plans relating to the design, build, operation and maintenance of the Bégin-Lamarche Phosphate Mine (and the possibility of eventual economic extraction of minerals from therefrom); the Company’s entering into of a definitive land lease for one or both of the Phase 1 and Phase 2 lands and the achievement of preconditions thereto; the achievement and completion of all required steps, including, without limitation, access to financing, and regulatory and environmental approvals, to build and operate a phosphoric acid and gypsum valorization facility, and lithium iron phosphate (LFP) cathode active material (CAM) production facility; the vertical integration between upstream phosphoric acid and downstream LFP CAM production; and the Company’s access to international markets and any future partner co-location.

These statements and other forward-looking information are based on assumptions and estimates that the Company believes are appropriate and reasonable in the circumstances, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in the Company’s public disclosure record including the short form base prospectus dated June 5, 2024, as well as: there being no significant disruptions affecting the activities of the Company or inability to access required project inputs; permitting and development of the projects being consistent with the Company’s expectations; the accuracy of the current mineral resource estimates for the Company and results of metallurgical testing; certain price assumptions for P2O5 and Fe2O3; inflation and prices for Company project inputs being approximately consistent with anticipated levels; the Company’s relationship with First Nations and other Indigenous parties remaining consistent with the Company’s expectations; the Company’s relationship with other third party partners and suppliers remaining consistent with the Company’s expectations; government relations and actions being consistent with Company expectations.

There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There can be no assurance that any opportunity will be successful, commercially viable, completed on time or on budget, or will generate any meaningful revenues, savings or earnings, as the case may be, for the Company. In addition, the Company will incur costs in pursuing any particular opportunity, which may be significant. These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the Company and, though they should be considered carefully, should be considered in conjunction with the risk factors described in the Company’s other documents filed with the Canadian and United States securities authorities, including without limitation the “Risk Factors” section of the Company’s Management Discussion and Analysis dated June 27, 2025 and Annual Report on 20-F dated July 8, 2024, which are available on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking information or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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

Smilegate Unveils Chaos Zero Nightmare OST “OVER//RIDE,” Performed by hololive English

  • The newly revealed soundtrack “OVER//RIDE” blends rock and metal, created in collaboration with hololive English
  • Performed by hololive English talents “Mori Calliope” and “Nerissa Ravencroft
  • Available now on major platforms including CZN’s official social platforms, Apple Music, YouTube Music, Spotify, Melon, and Bugs

SEOUL, South Korea, July 18, 2025 /PRNewswire/ — On Friday the 18th, Smilegate announced the release of a new OST titled “OVER//RIDE (OVER//RIDE)” for its upcoming RPG “Chaos Zero Nightmare” (henceforth CZN), developed by Super Creative. The OST has garnered particular attention for its collaboration with the globally renowned virtual idol group hololive English.

Smilegate Unveils Chaos Zero Nightmare OST OVERRIDE, Performed by hololive English
Smilegate Unveils Chaos Zero Nightmare OST OVERRIDE, Performed by hololive English

hololive English is a globally popular virtual idol group with over 90 million subscribers on YouTube. The new OST features two of its standout talents, “Mori Calliope” and “Nerissa Ravencroft.” Both artists are known for their dynamic vocal performances rooted in rock, with the versatility to perform across a wide range of genres. Mori Calliope has amassed over 2.55 million subscribers on YouTube, while Nerissa Ravencroft boasts approximately 890 thousand. Notably, Mori Calliope’s solo concert in Los Angeles this past February was completely sold out.

The CZN OST “OVER//RIDE,” performed by Mori Calliope and Nerissa Ravencroft, is a fast-paced track that showcases elements of rock and metal. Its lyrics, inspired by CZN’s lore, convey a message of holding onto hope even in the face of despair.

“OVER//RIDE” is now available on CZN’s official social media channels, as well as on major global platforms such as Apple Music, YouTube Music, and Spotify, and on leading Korean services including Melon and Bugs. A music video featuring the artists has also been released on YouTube. Smilegate plans to release an additional music video in the future, created using animation from CZN.

Kim Joo Hyung, Head of Business at Smilegate, expressed his excitement about the collaboration, stating, “We’re truly delighted to have worked with such incredible virtual artists. We hope everyone enjoys the OST, which captures the lore and atmosphere of CZN through music.”

For more information on Chaos Zero Nightmare, visit the official channels on X and YouTube, as well as STOVE’s official site (https://chaoszeronightmare.onstove.com/ko).

Azerbaijan’s Sovereign Wealth Fund to Acquire Minority Stake in 402 MW of Solar Assets in Italy from Enfinity Global

  • SOFAZ to acquire 49% stake in a 402 MW portfolio of solar power plants in Italy from Enfinity Global who retains 51% and will be the long-term asset manager
  • The portfolio includes 14 solar power plants across the Lazio and Emilia-Romagna regions, with electricity output contracted through long-term PPAs

ROME, July 18, 2025 /PRNewswire/ — The State Oil Fund of the Republic of Azerbaijan (SOFAZ) and Enfinity Global, a leading renewable energy company, communicate to have entered into an agreement under which SOFAZ will acquire a 49% equity interest in a 402 MW portfolio of solar photovoltaic (PV) plants in Italy. Upon completion of the deal, Enfinity will retain a majority stake and continue to lead the management of the assets, leveraging its leading position in the Italian renewable energy sector.

The investment aligns with SOFAZ’s strategic objectives by offering a stable and predictable income stream, while also contributing to global efforts in the transition to sustainable energy — consistent with the Fund’s mandate as a long-term investor.

Through this agreement, Enfinity brings in capital partners to support its Italian portfolio, enabling reinvestment and accelerating the deployment of its 2.6 GW solar and 5.3 GW energy storage pipeline, reinforcing its position as the leading Independent Power Producer in the country.

The investment comprises 14 solar PV plants, both operational and under construction, located in the Lazio and Emilia-Romagna regions of Italy. The energy generated by these facilities is contracted through long-term power purchase agreements (PPAs), ensuring predictable energy prices for customers and stable cash flows. The portfolio is expected to produce approximately 685 GWh of clean electricity annually, which will lead to an estimated reduction of 184,950 tons of CO₂e emissions per year—equivalent to the annual electricity consumption of over 250,000 Italian households.

Carlos Domenech, CEO of Enfinity Global: “We are honored and welcome SOFAZ as a long-term partner and investor to our first vintage Italian contracted PV portfolio. This investment is a meaningful example of transitioning to sustainable energy with a win-win outcome for all countries, investors, and customers involved.”

Israfil Mammadov, CEO of SOFAZ: “Through this strategic collaboration with Enfinity Global, SOFAZ supports the delivery of competitive, clean energy to meet Italy’s growing energy needs, while contributing to local economic development and household energy access. As a forward-looking institutional capital provider we remain committed to supporting strategic investment opportunities in Italy and across Europe.”

The transaction was supported by a team of advisors to Enfinity, including Mediobanca as financial advisor, Legance as legal counsel, and Fichtner as technical advisor. SOFAZ was advised by JLL as M&A advisor, Dentons Europe Studio Legale Tributario as legal counsel, EY as financial and tax advisor, and DNV as technical advisor.

XCMG Machinery Achieves Dual ISO 37301 and GB/T 35770 Compliance Certifications, Reinforcing Global Governance Leadership

XUZHOU, China, July 18, 2025 /PRNewswire/ — XCMG Machinery (SHE:000425), a global leader in heavy machinery manufacturing, and its subsidiary XCMG Import & Export Co., Ltd., have been awarded the ISO 37301:2021 Compliance Management System Certification by the International Certification Network (IQNET), alongside China’s national GB/T 35770-2022 Compliance Management System Certification by the China Quality Certification Centre (CQC). The certifications, effective June 19, 2025, validate XCMG’s world-class compliance framework across the trade and after-sales service of construction machinery and its spare parts.

XCMG Machinery Achieves Dual ISO 37301 and GB/T 35770 Compliance Certifications, Reinforcing Global Governance Leadership
XCMG Machinery Achieves Dual ISO 37301 and GB/T 35770 Compliance Certifications, Reinforcing Global Governance Leadership

The ISO 37301:2021, issued by the International Organization for Standardization (ISO), and its Chinese equivalent, GB/T 35770-2022, provide systematic methodologies for organizational compliance. These standards adopt the Plan-Do-Check-Act (PDCA) cycle, enabling end-to-end management of compliance systems. XCMG’s dual certification demonstrates its commitment to meeting both international trade requirements and China’s regulatory benchmarks, positioning the company as a benchmark for cross-border governance excellence.

Since 2023, XCMG has pioneered a compliance architecture anchored in core principles on comprehensive coverage, clear accountability, and pragmatic efficiency among the group.

The Company integrates integrity, fair competition, and contractual fidelity throughout its value chain, driven by its dual principles: ‘Compliance as Obligation’ and ‘Compliance as Business Enabler.’ The certifications validate XCMG’s success in building a culture where compliance powers sustainable growth.

In complex international markets, XCMG’s certified compliance system mitigates operational risks through proactive governance while streamlining the cross-border trade via standardized frameworks. The certificates will build stakeholder trust with third-party-verified controls. As noted in the ISO 37301 guidelines, such certifications serve as “a testament to wisdom, distilled experience, and elevated principles,” facilitating smoother partnerships worldwide.

These certifications are not endpoints but accelerators. The company will deepen compliance as a long-term engineering system, integrating it into every business link to power XCMG’s high-quality development. The company will continue optimizing its compliance ecosystem to navigate evolving global regulations while advancing industry best practices.

About XCMG Machinery
XCMG Machinery (SHE:000425) is a multinational heavy machinery manufacturer headquartered in Xuzhou, China. With a product portfolio serving 190+ countries, XCMG ranks among the world’s top three construction machinery brands. The company drives innovation through intelligent manufacturing and sustainable solutions.

XCMG Machinery Achieves Dual ISO 37301 and GB/T 35770 Compliance Certifications, Reinforcing Global Governance Leadership

XUZHOU, China, July 18, 2025 /PRNewswire/ — XCMG Machinery (SHE:000425), a global leader in heavy machinery manufacturing, and its subsidiary XCMG Import & Export Co., Ltd., have been awarded the ISO 37301:2021 Compliance Management System Certification by the International Certification Network (IQNET), alongside China’s national GB/T 35770-2022 Compliance Management System Certification by the China Quality Certification Centre (CQC). The certifications, effective June 19, 2025, validate XCMG’s world-class compliance framework across the trade and after-sales service of construction machinery and its spare parts.

XCMG Machinery Achieves Dual ISO 37301 and GB/T 35770 Compliance Certifications, Reinforcing Global Governance Leadership
XCMG Machinery Achieves Dual ISO 37301 and GB/T 35770 Compliance Certifications, Reinforcing Global Governance Leadership

The ISO 37301:2021, issued by the International Organization for Standardization (ISO), and its Chinese equivalent, GB/T 35770-2022, provide systematic methodologies for organizational compliance. These standards adopt the Plan-Do-Check-Act (PDCA) cycle, enabling end-to-end management of compliance systems. XCMG’s dual certification demonstrates its commitment to meeting both international trade requirements and China’s regulatory benchmarks, positioning the company as a benchmark for cross-border governance excellence.

Since 2023, XCMG has pioneered a compliance architecture anchored in core principles on comprehensive coverage, clear accountability, and pragmatic efficiency among the group.

The Company integrates integrity, fair competition, and contractual fidelity throughout its value chain, driven by its dual principles: ‘Compliance as Obligation’ and ‘Compliance as Business Enabler.’ The certifications validate XCMG’s success in building a culture where compliance powers sustainable growth.

In complex international markets, XCMG’s certified compliance system mitigates operational risks through proactive governance while streamlining the cross-border trade via standardized frameworks. The certificates will build stakeholder trust with third-party-verified controls. As noted in the ISO 37301 guidelines, such certifications serve as “a testament to wisdom, distilled experience, and elevated principles,” facilitating smoother partnerships worldwide.

These certifications are not endpoints but accelerators. The company will deepen compliance as a long-term engineering system, integrating it into every business link to power XCMG’s high-quality development. The company will continue optimizing its compliance ecosystem to navigate evolving global regulations while advancing industry best practices.

About XCMG Machinery
XCMG Machinery (SHE:000425) is a multinational heavy machinery manufacturer headquartered in Xuzhou, China. With a product portfolio serving 190+ countries, XCMG ranks among the world’s top three construction machinery brands. The company drives innovation through intelligent manufacturing and sustainable solutions.

AI-Powered Insurance and Healthcare: Waterdrop Inc. Included in Harvard Business School Case Collection

BEIJING, July 18, 2025 /PRNewswire/ — The business innovation case of Waterdrop Inc. (NYSE:WDH), Waterdrop: AI-Powered Insurance and Healthcare, was recently included in Harvard Business School (HBS)’s Case Collection, receiving recognition from this world-renowned academic institution. Developed by Professor Li Qi from the School of Management and Economics at The Chinese University of Hong Kong (Shenzhen), the case examines how Waterdrop has applied advanced AI technologies to drive systematic innovation and strategic transformation amid profound changes in the insurance and healthcare sectors. By fostering a diversified health protection ecosystem and enhancing operational efficiency, Waterdrop has achieved a balance between social and commercial value, offering a replicable “China solution” for global insurtech development.

As a gold standard in international teaching cases, the HBS Case Collection curates the world’s most exemplary business practices across industries, covering key areas such as strategic management, organizational behavior, and digital transformation. Serving as an essential reference for global business education and corporate research, the Case Collection maintains rigorous selection criteria.

Waterdrop founder and CEO Shen Peng said, “The recognition validates our unwavering commitment to applying technology for public good. Since its inception, Waterdrop continues to assist families in medical distress through Waterdrop Medical Crowdfunding and raise awareness about enhanced protection with health insurance through Waterdrop Insurance Marketplace. Today, we are reshaping the insurance and healthcare service ecosystem with AI. Over the past nine years, we have been committed to bringing insurance and healthcare service to billions through technology.”

“All in AI” Strategy Delivers Tangible Results, with AI Empowering Full Business Lines

The HBS case highlights Waterdrop as a leading insurtech and healthcare platform in China, dedicated to providing health protection solutions. Its ecosystem—spanning Waterdrop Medical Crowdfunding, Waterdrop Insurance Marketplace, E-Find Patient Recruitment, Waterdrop Financial, and Lugo Visa—integrates insurance coverage and health services under a diverse and innovation-driven approach. With an annual R&D investment of nearly 300 million yuan (approx. US$42 million), Waterdrop has built a comprehensive AI application framework for insurance scenarios, backed by over 100 technology patents.

On Waterdrop Medical Crowdfunding, a new medical fundraising campaign is initiated online by a family in need every 53 seconds. To date, 475 million people have supported over 3.47 million patients through the AI-driven platform. This social impact earned widespread recognition, culminating in Waterdrop Medical Crowdfunding’s designation by the Ministry of Civil Affairs of the People’s Republic of China as one of the government recognized online personal help-seeking service platforms in mainland China.

Waterdrop Insurance Marketplace drives product innovation through technology, offering over 1,000 inclusive and affordable insurance products tailored for pre-existing conditions, seniors, and expectant mothers. It has provided comprehensive insurance planning services to 38,000 families, with customer satisfaction exceeding 95%.

Through the use of AI, E-Find Patient Recruitment has achieved significant operational efficiency improvements, with a over 30% increase in the numbers of strategically aligned projects and partnerships established with 80% of the world’s top 10 pharmaceutical companies. The platform has boosted patient enrollment efficiency by 45%, demonstrating Waterdrop’s technological contributions to the healthcare sector. With a competitive insurance product and service system in Hong Kong, Waterdrop Financial is expanding rapidly through its robust sales network.

AI as a Growth Engine: Driving Efficiency and Creating Value

By applying advanced AI models, Waterdrop’s net profit attributable to shareholders surged nearly 120% in 2024. In 2025, the company will double down on its “All in AI” strategy, integrating AI across all business lines to unlock new growth. Its proprietary LLM, Waterdrop Guardian AI Insurance Expert, now supports end-to-end processes, including sales assistance, customer service, underwriting, and quality control.

The Waterdrop Guardian AI Insurance Expert delivers significant efficiency gains in sales support and process optimization. The AI Agent, equipped with multimodal interaction capabilities, including voice and text, can autonomously handle consultations for insurance products like casualty and medical insurance. The AI, which engages users for up to 50 minutes per session with an average response time of just 2 seconds, outperforms entry-level human agents in service efficiency.

In terms of customer service, Waterdrop launched Baoxiaohui, an AI-powered virtual assistant covering policy inquiries, policy management, and product Q&A, among other key service scenarios. Equipped with cutting-edge LLM capabilities, it accurately detects user emotions, delivers 24/7 real-time responses, and is poised to reduce case escalation rates by 50% annually while improving service efficiency by 50%.

Additionally, Waterdrop’s AI-driven quality inspection solution ensures 100% coverage across all communication channels, including voice and enterprise WeChat chat records, while slashing manual review costs by over 50%.

The inclusion in the HBS Case Collection underscores the research value of Waterdrop’s pioneering “AI-powered Insurance and Healthcare” business model. Mr. Shen remarked, “The essence of technological innovation lies in leveraging technology-driven efficiency gains and growth momentum to transform socially conscious solutions into actionable, replicable, and sustainable systems that ultimately help deliver meaningful value to users.”

For more information about Waterdrop Inc., please visit https://www.waterdrop-inc.com/.