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POMDOCTOR LIMITED Announces Fiscal Year 2025 Financial Results

GUANGZHOU, China, May 15, 2026 /PRNewswire/ — Pomdoctor Limited (“Pomdoctor” or the “Company”) (NASDAQ: POM), a leading online medical services platform for chronic diseases in China, today announced its financial results for the fiscal year ended December 31, 2025.

Mr. Zhenyang Shi, Chairman and Chief Executive Officer of Pomdoctor, commented: “Fiscal year 2025 marked a year of solid revenue expansion and continued execution of our growth strategy. Both our net revenues and gross profit recorded solid year-over-year increases, by 16.7% and 9.6% respectively, primarily driven by the strong growth of our Internet hospital business, particularly online pharmacy sales as we deepened collaboration with pharmaceutical manufacturers. At the same time, we achieved a steady gross margin over 13%, reflecting our capability in maintaining profit while continuing expansion of our business scale, executing sales promotions and obtaining new customers.

“During the year, we also increased our investments in research and development (“R&D”) by 328.5% to support our long-term strategic priorities. Our R&D efforts are focused on enhancing our technology-driven healthcare capabilities and strengthening our platform infrastructure, which we believe will enable us to deliver more efficient and accessible healthcare services while supporting sustainable growth over time.

“Despite the net loss for the year, which was primarily attributable to significant non-recurring expenses associated with our initial public offering, including professional service fees and investor relations initiatives, we view these costs as necessary and strategic investments. These investments enabled our transition to a publicly listed company, strengthened our corporate governance, enhanced our operational and financial capabilities, and unlocked broader growth opportunities for the future. Following our successful listing, we are now better positioned to access capital market resources to support business expansion and execute our long-term growth strategy more efficiently on a larger scale.

“Looking ahead, we remain confident in the long-term growth potential of China’s digital healthcare market. We will continue to deepen strategic partnerships with pharmaceutical companies to further drive Internet hospital growth, accelerate the integration of our platform with online medical insurance systems across major cities, and advance our strategic upgrade centered on ‘artificial intelligence (AI) + medical-grade smart wearables + full-cycle chronic disease management.’ We believe these initiatives will strengthen our ecosystem and position us for scalable growth and long-term value creation.”

Fiscal Year 2025 Financial Summary

  • Net revenues were RMB399.9 million (US$57.2 million) in fiscal year 2025, an increase of 16.7% from RMB342.6 million in fiscal year 2024.
  • Gross profit was RMB52.3 million (US$7.5 million) in fiscal year 2025, an increase of 9.6% from RMB47.7 million in fiscal year 2024.
  • Gross margin was 13.1% in fiscal year 2025, compared to 13.9% in fiscal year 2024.
  • Net loss was RMB130.9 million (US$18.7 million) in fiscal year 2025, compared to RMB37.4 million in fiscal year 2024.
  • Basic and diluted loss per share were RMB21.96 (US$3.14) in fiscal year 2025, compared to RMB22.72 in fiscal year 2024.

Fiscal Year 2025 Financial Results

Net Revenues

Net revenues were RMB399.9 million (US$57.2 million) in fiscal year 2025, an increase of 16.7% from RMB342.6 million in fiscal year 2024.

  • Net revenues from Internet hospital were RMB150.7 million (US$21.6 million) in fiscal year 2025, an increase of 69.3% from RMB89.0 million in fiscal year 2024. The increase was primarily due to the increase in revenues generated from online pharmacy sales. In fiscal year 2025, the Company deepened cooperation with pharmacy manufacturers to sell their products through its Internet hospital platform, which led to that revenue from the Company’s online pharmacy sales increased from RMB87.8 million in fiscal year 2024 to RMB149.2 million (US$21.3 million) in fiscal year 2025. Revenue from online consultation service slightly increased from RMB1.2 million in fiscal year 2024 to RMB1.5 million (US$0.2 million) in fiscal year 2025.
  • Net revenues from pharmaceutical supply chain were RMB249.2 million (US$35.6 million) in fiscal year 2025, a decrease of 1.7% from RMB253.5 million in fiscal year 2024, primarily driven by the decrease in the Company’s pharmacy wholesale business from RMB246.9 million in fiscal year 2024 to RMB243.2 million (US$34.8 million) in fiscal year 2025, as a result of the Company’s stable pharmaceutical supply chain business and reduction cooperation with the customers whose credit terms were relatively longer than others. Because of high competition of retail pharmacy store, two of the Company’s retail sales stores were closed in fiscal year 2025, which led to that the revenues from pharmacy retail sales also decreased from RMB6.6 million in fiscal year 2024 to RMB6.0 million (US$0.9 million) in fiscal year 2025.

Cost of Revenues

Cost of revenue was RMB347.6 million (US$49.7 million) in fiscal year 2025, an increase of 17.9% from RMB294.9 million in fiscal year 2024. The increase was primarily due to the increase in cost of revenues in online pharmacy sales from RMB51.0 million in fiscal year 2024 to RMB101.4 million (US$14.5 million) in fiscal year 2025, which was in line with the increase in the Company’s net revenues from Internet hospital. The cost of revenues in pharmaceutical supply chain increased from RMB243.9 million in fiscal year 2024 to RMB246.2 million (US$35.2 million) in fiscal year 2025.

Gross Profit and Gross Margin

Gross profit was RMB52.3 million (US$7.5 million) in fiscal year 2025, an increase of 9.6% from RMB47.7 million in fiscal year 2024.

Gross margin was 13.1% in fiscal year 2025, slightly decreased from 13.9% in fiscal year 2024.

  • Gross profit margin of Internet hospital was 32.7% in fiscal year 2025, decreased from 42.7% in fiscal year 2024. The decrease mainly attributable to the increase in the online pharmacy sales of products with lower gross profit margin.
  • Gross profit margin of pharmaceutical supply chain was 1.2% in fiscal year 2025, decreased from 3.8% in fiscal year 2024. The decrease was primarily because the gross profit margin of the Company’s pharmacy wholesale customers newly obtained in fiscal year 2025 was lower than that of customers in fiscal year 2024.

Operating Expenses

Total operating expenses were RMB170.9 million (US$24.4 million) in fiscal year 2025, compared to RMB73.5 million in fiscal year 2024.

  • Sales and marketing expenses were RMB96.2 million (US$13.8 million) in fiscal year 2025, increased by 70.7% from RMB56.4 million in fiscal year 2024. The increase primarily due to the increase in professional service fees paid to outsourced consultants for promoting the Company’s brand and internet medical platform of approximately RMB36.5 million (US$5.2 million) and service fees to doctors and staff costs which is in line of the increase in the revenues from Internet hospital business.
  • General and administrative expenses were RMB59.7 million (US$8.5 million) in fiscal year 2025, increased by 402.9% from RMB11.9 million in fiscal year 2024. The increase primarily due to (i) increase in professional service fee paid to outsourced consultants for consultancy for investor relationship management of approximately RMB38.0 million (US$5.4 million) incurred in fiscal year 2025; and (ii) the increase in consulting service fee and office fees of RMB6.5 million (US$0.9 million) paid during the process of initial public offering, primarily offset by the decrease in expected credit loss recognized resulting from the efforts for collection of accounts receivable.
  • Research and development expenses were RMB12.9 million (US$1.8 million) in fiscal year 2025, increased by 328.5% from RMB3.0 million in fiscal year 2024. The increase primarily due to a new research and development project, especially in AI and healthcare-related AI applications, launched in fiscal year 2025 and related consulting service fee paid.
  • Impairment loss on property and equipment and operating lease right-of-use assets with definite lives of RMB2.2 million and RMB2.1 million (US$0.3 million) in fiscal year 2024 and 2025, respectively.

Net Loss

Net loss was RMB130.9 million (US$18.7 million) in fiscal year 2025, compared to RMB37.4 million in fiscal year 2024.

Basic and Diluted Loss per Share

Basic and diluted loss per share were RMB21.96 (US$3.14) in fiscal year 2025, compared to RMB22.72 in fiscal year 2024.

Financial Condition

As of December 31, 2025, the Company had cash and cash equivalents of RMB9.6 million (US$1.4 million), compared to RMB7.7 million as of December 31, 2024.

Net cash used in operating activities in fiscal year 2025 was RMB148.5 million (US$21.2 million), compared to RMB16.1 million in fiscal year 2024.

Net cash used in investing activities in fiscal year 2025 was RMB1.6 million (US$0.2 million), compared to RMB0.03 million in fiscal year 2024.

Net cash provided by financing activities in fiscal year 2025 was RMB153.9 million ($22.0 million), compared to RMB17.0 million in fiscal year 2024.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.9931 to US$1.00, the rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on December 31, 2025.

Recent Development

On October 9, 2025, the Company completed its initial public offering (the “Offering”) of 5,000,004 American Depositary Shares (“ADSs”) at a public offering price of US$4.00 per ADS. On October 10, 2025, the underwriter of the Offering fully exercised its over-allotment option to purchase an additional 750,000 American Depositary Shares of the Company at the public offering price of US$4.00 per ADS. The gross proceeds were US$23,000,016 from the Offering, before deducting underwriting discounts and commissions, and other expenses. The Company’s ADSs began trading on the Nasdaq Global Market on October 8, 2025 under the ticker symbol “POM.”

About POMDOCTOR LIMITED

POMDOCTOR LIMITED is a leading online medical services platform for chronic diseases in China, ranking sixth on China’s Internet hospital market based on the number of contracted doctors in 2022, according to Frost & Sullivan. Focusing on chronic disease management and pharmaceutical services, the Company offers a one-stop platform for medical services, organically connecting patients with doctors and pharmaceutical products. The Company’s operations primarily include Internet hospital and pharmaceutical supply chain, connecting users, pharmacies, suppliers, medical professionals, and other healthcare participants. Through this model, POMDOCTOR aims to enhance the efficiency and transparency of the healthcare value chain. The Company’s mission is to provide effective prevention and treatment solutions to alleviate patients’ sufferings from illnesses. Its vision is to become the most trustworthy medical and healthcare services platform. For more information, please visit the Company’s website: http://ir.7shiliu.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s filings with the SEC.

For more information, please contact:

POMDOCTOR LIMITED
Investor Relations Department
Email: ir@7lk.com

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

POMDOCTOR LIMITED
CONSOLIDATED BALANCE SHEETS

December 31, 2024

December 31, 2025

December 31, 2025

RMB

RMB

US$

Assets

Current assets:

Cash and cash equivalents (including amounts of the consolidated VIEs of RMB7,596,708 and RMB8,445,208 (US$1,207,649) as of December 31, 2024 and 2025, respectively)

7,651,695

9,580,367

1,369,974

Accounts receivable, net (including amounts of the consolidated VIEs of RMB8,374,608 and RMB18,440,482 (US$2,636,954) as of December 31, 2024 and 2025, respectively)

8,374,608

18,440,482

2,636,954

Accounts receivable – a related party (including amounts of the consolidated VIEs of RMB424,259 and RMB831,436 (US$118,894) as of December 31, 2024 and 2025, respectively)

424,259

831,436

118,894

Amount due from related parties (including amounts of the consolidated VIEs of RMB6,070,945 and RMB3,637,039 (US$520,090) as of December 31, 2024 and 2025, respectively)

5,632,987

3,637,039

520,090

Inventories (including amounts of the consolidated VIEs of RMB9,165,973 and RMB8,280,145 (US$1,184,045) as of December 31, 2024 and 2025, respectively)

9,165,973

8,280,145

1,184,045

Other receivables, net (including amounts of the consolidated VIEs of RMB5,318,724 and RMB5,824,886 (US$832,948) as of December 31, 2024 and 2025, respectively)

5,318,724

63,517,961

9,082,948

Advances to suppliers (including amounts of the consolidated VIEs of RMB929,167 and RMB679,196 (US$97,124) as of December 31, 2024 and 2025, respectively)

929,167

679,196

97,124

Total current assets

37,497,413

104,966,626

15,010,029

Property and equipment, net (including amounts of the consolidated VIEs of RMB461,362 and RMB1,246,568 (US$178,257) as of December 31, 2024 and 2025, respectively)

461,362

1,246,568

178,257

Other non-current assets (including amounts of the consolidated VIEs of RMB831,132 and RMB1,344,232 (US$192,223) as of December 31, 2024 and 2025, respectively)

831,132

1,344,232

192,223

Deferred offering costs (including amounts of the consolidated VIEs of RMB7,437,679 and nil as of December 31, 2024 and 2025, respectively)

7,437,679

—

—

Total non-current assets

8,730,173

2,590,800

370,480

Total assets

46,227,586

107,557,426

15,380,509

Liabilities

Current liabilities:

Accounts payable (including amounts of the consolidated VIEs of RMB25,320,486 and RMB44,813,902 (US$6,408,303) as of December 31, 2024 and 2025, respectively)

25,320,486

44,813,902

6,408,303

Accounts payable – a related party (including amounts of the consolidated VIEs of RMB25,891 and RMB7,296 (US$1,043) as of December 31, 2024 and 2025, respectively)

25,891

7,296

1,043

Short-term bank loans (including amounts of the consolidated VIEs of RMB34,958,333 and RMB53,000,000 (US$7,578,899) as of December 31, 2024 and 2025, respectively)

34,958,333

53,000,000

7,578,899

Long-term bank loans, current (including amounts of the consolidated VIEs of RMB300,000 and RMB3,700,000 (US$529,093) as of December 31, 2024 and 2025, respectively)

300,000

3,700,000

529,093

Long-term loans, current (including amounts of the consolidated VIEs of RMB10,000,000 and RMB10,000,000 (US$1,429,981) as of December 31, 2024 and 2025, respectively)

10,000,000

10,000,000

1,429,981

Long-term loans from third parties, current (including amounts of the consolidated VIEs of RMB2,320,082 and RMB200,000 (US$28,600) as of December 31, 2024 and 2025, respectively)

2,320,082

200,000

28,600

Salary and welfare payable (including amounts of the consolidated VIEs of RMB15,375,537 and RMB14,477,975 (US$2,070,323) as of December 31, 2024 and 2025, respectively)

15,375,537

14,477,975

2,070,323

Advance from customers (including amounts of the consolidated VIEs of RMB1,756,046 and RMB1,591,131 (US$227,529) as of December 31, 2024 and 2025, respectively)

1,756,046

1,591,131

227,529

Value added tax (“VAT”) and other tax payable (including amounts of the consolidated VIEs of RMB815,462 and RMB658,492 (US$94,163) as of December 31, 2024 and 2025, respectively)

815,462

658,983

94,233

Other payables (including amounts of the consolidated VIEs of RMB12,888,550 and RMB11,817,179 (US$1,689,838) as of December 31, 2024 and 2025, respectively)

12,888,750

11,817,379

1,689,865

Accrued liabilities (including amounts of the consolidated VIEs of RMB9,712,966 and RMB14,231,003 (US$2,035,006) as of December 31, 2024 and 2025, respectively)

9,712,966

14,580,658

2,085,008

Short-term loans from third parties (including amounts of the consolidated VIEs of RMB11,551,614 and RMB610,637 (US$87,320) as of December 31, 2024 and 2025, respectively)

11,551,614

610,637

87,320

Loans from related parties, current (including amounts of the consolidated VIEs of RMB13,821,875 and RMB15,198,309 (US$2,173,329) as of December 31, 2024 and 2025, respectively)

13,821,875

15,198,309

2,173,329

Amount due to related parties (including amounts of the consolidated VIEs of RMB36,829,010 and RMB92,331,116 (US$13,203,174) as of December 31, 2024 and 2025, respectively)

36,829,010

45,966,864

6,573,174

Operating lease liabilities, current (including amounts of the consolidated VIEs of RMB1,388,863 and RMB1,545,002 (US$220,932) as of December 31, 2024 and 2025, respectively)

1,388,863

1,545,002

220,932

Other current liabilities (including amounts of the consolidated VIEs of RMB2,080,556 and nil as of December 31, 2024 and 2025, respectively)

2,080,556

—

—

Total current liabilities

179,145,471

218,168,136

31,197,632

Long-term bank loans, noncurrent (including amounts of the consolidated VIEs of RMB8,400,000 and RMB11,000,000 (US$1,572,979) as of December 31, 2024 and 2025, respectively)

8,400,000

11,000,000

1,572,979

Long-term loans from third parties, noncurrent (including amounts of the consolidated VIEs of nil and RMB2,000,582 (US$286,079) as of December 31, 2024 and 2025, respectively)

—

2,000,582

286,079

Loans from related parties, noncurrent (including amounts of the consolidated VIEs of RMB356,690,859 and RMB356,390,859 (US$50,963,215) as of December 31, 2024 and 2025, respectively)

356,690,859

356,390,859

50,963,215

Operating lease liabilities, noncurrent (including amounts of the consolidated VIEs of RMB1,672,218 and RMB1,294,510 (US$185,112) as of December 31, 2024 and 2025, respectively)

1,672,218

1,294,510

185,112

Total non-current liabilities

366,763,077

370,685,951

53,007,385

Total liabilities

545,908,548

588,854,087

84,205,017

Commitments and contingencies

—

—

—

Mezzanine equity

Convertible redeemable preferred shares (US$0.0001 par value; 12,597,228 shares authorized, 12,597,228 shares and nil issued and outstanding as of December 31, 2024 and 2025, respectively)

1,595,051,558

—

—

Redeemable non-controlling interests

168,671,234

—

—

Total mezzanine equity

1,763,722,792

—

—

Deficit

Class A Ordinary shares (US$0.0001 par value; 450,000,000 shares authorized, 4,268,156 and 21,140,922 shares issued and outstanding as of December 31, 2024 and 2025, respectively)

2,988

14,997

2,145

Class B Ordinary shares (US$0.0001 par value; 2,042,042 shares authorized and outstanding as of December 31, 2024 and 2025, respectively)

1,408

1,408

201

Subscription receivable

(1,608

)

(2,186

)

(313

)

Additional paid-in capital

—

2,023,765,569

289,394,627

Accumulated deficit

(2,263,419,477

)

(2,475,998,594

)

(354,063,090

)

Accumulated other comprehensive (loss)

(5,231

)

(1,752,460

)

(250,598

)

Total Pomdoctor Limited’s shareholders’ deficit

(2,263,421,920

)

(453,971,266

)

(64,917,028

)

Noncontrolling interests

18,166

(27,325,395

)

(3,907,480

)

Total deficit

(2,263,403,754

)

(481,296,661

)

(68,824,508

)

Total liabilities, mezzanine equity and deficit

46,227,586

107,557,426

15,380,509

*

Ordinary shares and share data have been retroactively restated to give effect to the nominal share issuance for the Reorganization completed on August 8, 2024.

 

POMDOCTOR LIMITED
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

For the Years Ended December 31,

2023

2024

2025

2025

RMB

RMB

RMB

US$

Net revenues – third parties

304,729,898

341,328,781

399,359,702

57,107,678

Net revenues – a related party

123,073

1,229,139

555,262

79,401

Net revenues

304,852,971

342,557,920

399,914,964

57,187,079

Cost of revenues

266,131,202

294,863,867

347,632,853

49,710,837

Gross profit

38,721,769

47,694,053

52,282,111

7,476,242

Operating expenses:

Sales and marketing expenses (including related party amounts of nil, nil and RMB1,172,706 (US$167,695) for the years ended December 31, 2023, 2024 and 2025, respectively)

43,678,681

56,366,433

96,214,406

13,758,477

General and administrative expenses

12,314,018

11,878,335

59,729,352

8,541,184

Research and development expenses

3,370,945

3,002,040

12,864,656

1,839,621

Impairment loss on long-lived assets

1,107,027

2,238,525

2,108,517

301,514

Impairment loss on long-term investment

500,000

—

—

—

Total operating expenses

60,970,671

73,485,333

170,916,931

24,440,796

Loss from operations

(22,248,902

)

(25,791,280

)

(118,634,820

)

(16,964,554

)

Other expense, net:

Other income

163,622

1,238,538

496,122

70,945

Other expense

(1,336,595

)

(37,608

)

(60,325

)

(8,625

)

Interest expense (including related party amounts of RMB9,900,417, RMB8,621,249 and RMB8,118,160 (US$1,160,881) for the year ended December 31, 2023, 2024 and 2025, respectively)

(13,849,119

)

(12,964,584

)

(12,885,122

)

(1,842,548

)

Government grants

321,573

189,500

152,599

21,821

Total other expense, net

(14,700,519

)

(11,574,154

)

(12,296,726

)

(1,758,407

)

Loss before income tax

(36,949,421

)

(37,365,434

)

(130,931,546

)

(18,722,961

)

Income tax expense

—

—

(375

)

(54

)

Net loss

(36,949,421

)

(37,365,434

)

(130,931,921

)

(18,723,015

)

Accretion to redemption value of mezzanine equity

(108,440,354

)

(105,969,614

)

(81,648,716

)

(11,675,611

)

Less: Net income (loss) attributable to noncontrolling interests

1,057

25,878

(1,520

)

(217

)

Net loss attributable to the Pomdoctor Limited’s ordinary shareholders

(145,390,832

)

(143,360,926

)

(212,579,117

)

(30,398,409

)

Net loss

(36,949,421

)

(37,365,434

)

(130,931,921

)

(18,723,015

)

Other comprehensive loss:

Foreign currency translation adjustments, net of nil income taxes

—

(5,231

)

(1,747,229

)

(249,850

)

Total comprehensive loss

(36,949,421

)

(37,370,665

)

(132,679,150

)

(18,972,865

)

Accretion to redemption value of mezzanine equity

(108,440,354

)

(105,969,614

)

(81,648,716

)

(11,675,611

)

Less: comprehensive income (loss) attributable to noncontrolling interests

1,057

25,878

(1,520

)

(217

)

Comprehensive loss attributable to the Pomdoctor Limited’s ordinary shareholders

(145,390,832

)

(143,366,157

)

(214,326,346

)

(30,648,259

)

Loss per share

Basic and diluted

(23.04

)

(22.72

)

(21.96

)

(3.14

)

Weighted average number of ordinary shares outstanding*

Basic and diluted

6,310,198

6,310,198

9,680,622

9,680,622

*

Ordinary shares and share data have been retroactively restated to give effect to the nominal share issuance for the Reorganization completed on August 8, 2024.

 

POMDOCTOR LIMITED
CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Years Ended December 31,

2023

2024

2025

2025

RMB

RMB

RMB

US$

Cash flows from operating activities:

Net loss

(36,949,421

)

(37,365,434

)

(130,931,921

)

(18,723,015

)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation of property and equipment

112,092

134,510

149,307

21,351

Change in expected credit losses

1,488,459

841,683

(240,982

)

(34,460

)

Allowance for inventory

503,079

494,459

1,883,635

269,355

Share base payment

—

—

16,423,683

2,348,555

Impairment loss on long-lived assets

1,107,027

2,238,525

2,108,517

301,514

Impairment loss on long-term investment

500,000

—

—

—

Gain/(Loss) on disposal of property and equipment

—

(3,893

)

—

—

Changes in operating assets and liabilities:

Accounts receivable

(1,273,526

)

20,309,367

(10,099,387

)

(1,444,193

)

Accounts receivable – a related party

—

(424,259

)

(407,177

)

(58,226

)

Amount due from related parties

831,665

(3,229,309

)

1,995,948

285,417

Inventories

(5,001,966

)

3,033,987

(997,807

)

(142,684

)

Other receivables

(4,011,854

)

(210,043

)

(57,924,742

)

(8,283,128

)

Advances to suppliers

(53,696

)

1,950,808

249,971

35,745

Other non-current assets

(171,874

)

(281,632

)

86,900

12,427

Accounts payable

(1,627,218

)

(16,254,687

)

19,493,416

2,787,521

Accounts payable – a related party

(30,908

)

(88,034

)

(18,595

)

(2,659

)

Salary and welfare payable

(3,400,663

)

149,452

(897,562

)

(128,350

)

Advance from customers

(1,489,222

)

512,618

(164,915

)

(23,583

)

Value added tax (“VAT”) and other tax payable

(115,371

)

601,150

(156,479

)

(22,376

)

Other payables

(3,001,148

)

3,391,790

1,300,394

185,954

Accrued liabilities

(96,449

)

(82,393

)

4,867,692

696,071

Amount due to related parties

8,879,617

7,145,948

9,137,854

1,306,696

Operating lease liabilities

(1,994,305

)

(1,076,049

)

(2,256,846

)

(322,725

)

Refund liability

—

2,080,556

(2,080,556

)

(297,516

)

Net cash used in operating activities

(45,795,682

)

(16,130,880

)

(148,479,652

)

(21,232,309

)

Cash flows from investing activities:

Payment for purchase of property and equipment

(111,891

)

(37,773

)

(1,007,753

)

(144,107

)

Payment for other noncurrent assets

—

—

(600,000

)

(85,799

)

Proceeds from disposal of property and equipment

—

4,400

—

—

Net cash used in investing activities

(111,891

)

(33,373

)

(1,607,753

)

(229,906

)

Cash flows from financing activities:

Loans from related parties

104,430,113

15,301,351

24,778,594

3,543,292

Repayment to related parties

(64,460,091

)

(25,047,012

)

(23,702,159

)

(3,389,364

)

Proceeds from short-term bank loans

28,000,000

44,100,000

56,000,000

8,007,893

Repayment of short-term bank loans

(15,664,494

)

(31,141,667

)

(37,958,333

)

(5,427,969

)

Proceeds from long-term bank loans

3,000,000

6,000,000

7,000,000

1,000,987

Repayment of long-term bank loans

—

(847,295

)

(1,000,000

)

(142,998

)

Repayment of long-term loans

(470,272

)

(391,667

)

(119,500

)

(17,088

)

Loans from third parties

1,124,048

19,856,630

2,951,275

422,027

Repayment to third parties

(3,615,200

)

(10,814,260

)

(13,892,252

)

(1,986,566

)

Proceeds from IPO

—

—

163,932,614

23,442,052

Payment for deferred offering cost

(2,276,926

)

—

(24,063,528

)

(3,441,039

)

Net cash provided by financing activities

50,067,178

17,016,080

153,926,711

22,011,227

Effect of exchange rate changes

—

(5,231

)

(1,910,634

)

(273,217

)

Net increase in cash and cash equivalents and restricted cash

4,159,605

846,596

1,928,672

275,796

Cash and cash equivalents and restricted cash at beginning of the year

2,645,494

6,805,099

7,651,695

1,094,178

Cash and cash equivalents and restricted cash at end of the year

6,805,099

7,651,695

9,580,367

1,369,974

Including:

Cash and cash equivalents at beginning of the year

2,485,598

6,717,031

7,651,695

1,094,178

Restricted cash at beginning of the year

159,896

88,068

—

—

Cash and cash equivalents and restricted cash at end of the year

6,805,099

7,651,695

9,580,367

1,369,974

Including:

Cash and cash equivalents at end of the year

6,717,031

7,651,695

9,580,367

1,369,974

Restricted cash at end of the year

88,068

—

—

—

Supplemental disclosures of cash flows information:

Cash paid for income tax

—

—

—

—

Cash paid for interest expense

2,388,025

2,744,793

2,703,601

386,610

Supplemental disclosure of noncash investing and financing activities:

Property and equipment acquired by assuming a long-term loan

640,000

—

—

—

Operating lease right-of-use assets obtained in exchange for new operating lease liabilities

1,063,104

2,200,752

2,035,277

291,041

Conversion of convertible redeemable preferred shares into Class A ordinary shares upon IPO

—

—

1,668,974,247

238,660,143

Conversion of convertible redeemable non-controlling interest into non-controlling interest upon IPO

—

—

176,397,261

25,224,473

Reclassification of deferred offering costs to additional paid-in capital

—

—

29,129,441

4,165,455

Expensed of deferred offering costs before IPO

—

—

1,624,680

232,326

Net off deferred offering costs to other payable

—

—

747,087

106,832

 

High‑Trend International Group Announces Cancellation and Retirement of 630,000 Class A Ordinary Shares

NEW YORK, May 15, 2026 /PRNewswire/ — High-Trend International Group (Nasdaq: HTCO, the “Company”) today announced that it has completed the cancellation and retirement of 630,000 Class A ordinary shares (the “Pre‑Delivery Shares”) that were previously issued to Streeterville Capital, LLC (“Streeterville”) pursuant to a securities purchase agreement dated October 29, 2025.

HTCO Chairman Mr. Christopher Nixon Cox stated that this transaction will help further optimize the Company’s capital structure, reduce potential dilution and provide greater flexibility for the execution of its future business strategy.

Previously, the Company had entered into a payoff acknowledgment and termination agreement with Streeterville, under which the Company fully satisfied all obligations arising from the related financing and received the return of the Pre‑Delivery Shares. Following the completion of the relevant share return and transfer procedures, all 630,000 Pre‑Delivery Shares have now been cancelled and retired, resulting in a corresponding reduction of 630,000 in the number of the Company’s issued and outstanding Class A ordinary shares.

About High-Trend International Group

High-Trend International Group is a global ocean transportation company with core businesses in international shipping.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws, including Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as “believe,” “expect,” “anticipate,” “future,” “will,” “intend,” “plan,” “estimate” or similar expressions. Actual results may differ materially from those indicated by these forward-looking statements due to various risks and uncertainties, including but not limited to those detailed in the Company’s filings with the U.S. Securities and Exchange Commission. All information in this press release is as of the date of this release, and the Company undertakes no obligation to update any forward-looking statement, except as required by applicable law.

DeepQure Reports Encouraging Clinical Data from World’s First Extravascular RDN System at AUA 2026

WASHINGTON, May 15, 2026 /PRNewswire/ — DeepQure, a clinical-stage medical device company, announced the completion of its featured presentation at the American Urological Association (AUA) Innovation Nexus Forum, held during the AUA Annual Meeting. DeepQure was selected to present the clinical progress of HyperQure™, the world’s first minimally invasive (laparoscopic/robotic) extravascular renal denervation (RDN) system.

The Innovation Nexus Forum is a premier platform for featuring cutting-edge urological technologies. DeepQure was invited to present its unique approach to treating uncontrolled hypertension, which addresses the inherent limitations of conventional catheter based intravascular RDN to address anatomical diversity and achieve full denervation.

While conventional intravascular RDN systems are now commercially available, variable blood pressure reduction due to incomplete or inconsistent nerve ablation remains as a significant unmet challenge. HyperQure™ is engineered to address this inherent limitation by enabling direct, circumferential ablation of perivascular nerves from outside the artery, independent of vessel anatomy.

Expanding Global Clinical Momentum

During the forum, DeepQure reported clinical milestones across its international programs:

  • Clinical Status: Successfully completed 15 cases in two early-phase studies — Korea’s first-in-human trial and the US Early Feasibility Study (IDE).
  • Institutional Participation: US clinical trials are currently conducted at leading academic centers, including Stanford University, Mayo Clinic, Emory University, UC Irvine, University of Florida, and Henry Ford Health System.
  • KOL Participation: DeepQure’s network of global authorities in hypertension includes Drs. David Kandzari and Herbert Aronow, recently bolstered by Professor Raymond Townsend (Medtronic’s SPYRAL HTN lead investigator) to ensure clinical integrity for upcoming trials.
  • Safety Profile: No device-related major adverse events (MAEs) have been reported. All patients are in the follow-up stage, with full clinical data scheduled to be presented at EuroPCR 2026 in May.

“The AUA Innovation Nexus Forum provided a critical stage to demonstrate how our extravascular, circumferential approach addresses the therapeutic gap in current RDN treatments,” said Chanho Park, Chairman of the Board of DeepQure. “With 15 cases completed across Korea and the US, the company is now focused on advancing its global pivotal trial.“

About the AUA Innovation Nexus Forum

The AUA Innovation Nexus Forum provides a collaborative venue for showcasing emerging technologies and transformative innovations in urology. The forum connects medical device innovators with global clinical experts to accelerate the development of solutions that address significant unmet needs in urological and related healthcare fields.

About Uncontrolled Hypertension and RDN

Uncontrolled hypertension affects an estimated ~30% of hypertensive patients globally and is associated with a significantly elevated risk of stroke and heart failure. It is clinically defined as systolic blood pressure that remains above 140mmHg despite pharmacological treatment. RDN is an interventional therapy designed to lower blood pressure by disrupting overactive sympathetic nerves surrounding the renal arteries.

About DeepQure

DeepQure is a clinical-stage medtech company developing next-generation RDN treatments. Its lead product, HyperQure™, is a proprietary extravascular system designed for 360° circumferential ablation of renal nerves from outside the vessel. HyperQure holds the Korean MFDS Breakthrough Device Designation and ISO 13485 certification.

/DISREGARD RELEASE: New York Stock Exchange/

We are advised by New York Stock Exchange that journalists and other readers should disregard the news release, NYSE Content Update: Blackstone Digital Infrastructure Debuts for Trade after $1.8 Billion IPO, issued 14-May-2026 over PR Newswire.

Datar Cancer Genetics Receives Landmark US FDA Clearance for CellDx-Tissue, a Comprehensive Genomic Profiling Assay for Solid Tumors Using DNA + RNA

Clearance Recognises CellDx-Tissue’s Dual-Analyte DNA and RNA Workflow Across 517 Cancer-Associated Genes, with ALK, RET and ROS1 Fusion Calls on RNA-Level Evidence

NASHIK, India, May 14, 2026 /PRNewswire/ — Datar Cancer Genetics (DCG), a global precision oncology company, today announced that its tissue-based comprehensive genomic profiling (CGP) assay for all solid tumors, CellDx-Tissue, has been cleared by the US Food and Drug Administration (US FDA).

CellDx-Tissue- Comprehensive Genomic Profiling Assay
CellDx-Tissue- Comprehensive Genomic Profiling Assay

The clearance strengthens DCG’s position in delivering a breakthrough platform intended for use by oncologists globally to make personalised clinical management decisions in accordance with professional guidelines and complements the company’s earlier US FDA Breakthrough Device Designations for its liquid biopsy platforms.

About CellDx-Tissue

CellDx-Tissue is a qualitative in vitro diagnostic (IVD) test that uses targeted Next-Generation Sequencing (NGS) of DNA and RNA isolated from formalin-fixed paraffin-embedded (FFPE) tumor tissue of patients diagnosed with solid tumors. The assay analyses 517 cancer-associated genes and is intended to provide information on somatic single nucleotide variants (SNVs), small insertions and deletions (InDels), ERBB2 gene amplification, and gene fusions involving ALK, RET and ROS1. CellDx-Tissue is a single-site assay performed at Datar Cancer Genetics’ CAP- and CLIA-accredited laboratory.

Significance

Comprehensive genomic profiling has become a central component of clinical management of solid tumors, supporting clinicians in characterising tumor genomic alterations across a broad spectrum of cancer types. The US FDA clearance process is intensive and rigorous, spanning analytical, clinical, and information technology domains.  

The clearance consolidates DCG’s position to engage with international clinical, academic and biopharmaceutical partners on a common regulatory footing for clinical management support, translational research, and biomarker development programs.

Dr. Vineet Datta, Senior Director – Global Strategy and Business Development, said: “This US FDA clearance for CellDx-Tissue adds gold-standard regulatory endorsement to an important solution offered by DCG. CellDx-Tissue bridges the gap between genomic complexity and clinical decision-making, offering patients wider options in an era of rapidly evolving therapies. We’re proud to bring this technology to oncologists worldwide.”

“US FDA clearance of our tissue-based genomic panel is a substantive validation of our science and quality systems. It enables us to support oncologists with robust, standardised genomic information to guide complex treatment decisions, and reinforces our commitment to combining advanced genomics, rigorous science, and real-world clinical relevance in service of cancer patients,” said Dr. Darshana Patil, Senior Director – Group Medical Affairs.

Dr. Dadasaheb Akolkar, Director – Research & Innovation, added, “This clearance reflects the consistency, rigor and clinical orientation our scientific and quality teams have brought to the development of CellDx-Tissue platform. We look forward to extending our transformational precision oncology solutions to cancer patients across global markets.”

About Datar Cancer Genetics

Datar Cancer Genetics is a global, AI-driven precision oncology company focused on developing and delivering advanced cancer diagnostics, including non-invasive liquid biopsy and tissue-based multi-omic solutions, for early detection, treatment selection and cancer monitoring. With UKAS-, CAP- and CLIA-accredited laboratories and a presence across the United Kingdom, the European Union, the United States, the Gulf Cooperation Council and Asia, DCG partners with clinicians and cancer centers worldwide to enable personalised cancer care for patients with solid organ cancers.

Web: https://datarpgx.com/celldx-tissue

 

MicroAlgo Inc. Develops Multi-Objective Evolutionary Algorithm to Advance Quantum Circuit Innovation

SHENZHEN, China, May 14, 2026 /PRNewswire/ — MicroAlgo Inc. (the “Company” or “MicroAlgo”) (NASDAQ: MLGO), today announced the proposal of a powerful solution—a multi-objective evolutionary search strategy, which is an innovative automated tool that can assist in designing quantum circuits, thereby bringing breakthroughs to quantum algorithm development.

The Multi-Objective Evolutionary Algorithm (MOEA) is a class of optimization algorithms based on evolution, specifically designed to address problems involving multiple conflicting objectives. Its working principle mimics the process of natural selection by randomly generating a set of candidate solutions in the solution space and, through iterative processes across multiple generations, continuously improving the quality of solutions through operations such as crossover, mutation, and selection. Ultimately, this evolutionary process can generate a solution set with higher fitness, i.e., optimal solutions that satisfy multiple objectives.

The innovation of the Multi-Objective Evolutionary Algorithm technology developed by MicroAlgo lies in its ability to automatically design quantum circuits from “zero.” In other words, this technology does not require a pre-defined specific circuit design but instead gradually constructs quantum circuits capable of achieving the target functionality by combining search and optimization methods with a universal library of quantum circuit components.

One of the key features of MicroAlgo’s algorithm is its task-universal library. This library contains a large number of different quantum circuit components, whose combinations and parameterization can construct circuits that implement complex functions. This design approach means that developers do not need to manually design circuits; instead, the algorithm automatically searches for the optimal circuit configuration based on the input/output requirements of the task.

More importantly, this algorithm is not only capable of designing circuits but also, through its multi-objective characteristics, can balance trade-offs among various performance metrics. For example, during the design process, the algorithm considers not only the accuracy of the quantum circuit but also other critical metrics such as the circuit’s width, depth, and the number of gates used. This is particularly important for the current stage of quantum computing hardware development, as first-generation quantum processors are extremely limited in resources (such as the number of gates and qubits), and the algorithm must achieve optimal performance within these limited resources.

To validate the effectiveness of the multi-objective evolutionary algorithm, MicroAlgo applied it to the automated design of classic quantum algorithms. Specifically, the Quantum Fourier Transform and Grover’s Search Algorithm were selected as test cases. The Quantum Fourier Transform is a widely used transformation in quantum computing, playing a significant role in many algorithms, such as Shor’s factorization algorithm. Meanwhile, Grover’s Search Algorithm is considered another foundational algorithm in quantum computing, capable of finding target data in an unsorted dataset at a faster speed than classical search algorithms.

In these two tests, the multi-objective evolutionary algorithm was able to find circuit structures that meet the input/output mapping requirements of these algorithms by combining components from the quantum circuit component library. After multiple iterations, the algorithm not only discovered textbook-style classic quantum circuit designs but also found alternative structures that achieve the same functionality. This demonstrates that the algorithm has the capability to efficiently design quantum circuits and can provide multiple alternative circuit solutions, offering great flexibility for the optimization of quantum computing algorithms.

The technical implementation behind the multi-objective evolutionary algorithm involves several key steps and processes. First, in the initial stage, the algorithm generates a set of random quantum circuits. These circuits are composed of quantum components from the library and include adjustable parameters. Subsequently, the algorithm simulates each quantum circuit and evaluates its performance. The evaluation metrics include the circuit’s accuracy, the number of gates used, the circuit’s width, and its depth.

Next, the algorithm filters and optimizes the circuits based on these metrics. Through crossover operations (similar to genetic recombination in biological evolution), the algorithm “crosses” two high-performing circuits to generate new candidate circuits; through mutation operations, the algorithm randomly modifies certain parts of the circuits to introduce new design possibilities. This process is repeated continuously, with each generation eliminating poorly performing circuits while retaining and optimizing high-performing circuits until the optimal solution is found.

The core advantage of the multi-objective evolutionary algorithm lies in its ability to optimize multiple metrics simultaneously. For example, in quantum computing, circuit depth and accuracy are often conflicting objectives: deeper circuits may offer higher accuracy but increase the complexity of execution and hardware requirements. Through this algorithm, developers can find the optimal balance point between these objectives, ensuring that the circuit meets the demands of efficient computation while being implementable under existing hardware conditions.

The multi-objective evolutionary algorithm developed by MicroAlgo is not only a significant technical breakthrough but also has the potential to change the development direction of the quantum computing industry in multiple ways.

First, the introduction of automated tools greatly reduces the difficulty of quantum algorithm development. Currently, the barrier to quantum computing development is high, typically requiring experts with deep backgrounds in quantum physics, quantum information science, and computer science to design effective quantum algorithms. However, with this multi-objective evolutionary algorithm, developers only need to define the objectives of the computational task, and the algorithm can automatically generate circuit designs that meet the requirements, thereby lowering the technical barriers to quantum algorithm development.

Second, this algorithm significantly enhances the efficiency and quality of quantum algorithms. Traditional quantum algorithm design relies on the experience and intuition of experts, whereas this evolutionary algorithm can explore a broader design space, even discovering optimization solutions that humans might not easily find. Especially on resource-constrained quantum hardware, this algorithm can find optimal solutions for different tasks, effectively improving the computational performance of the hardware.

Finally, the multi-objective evolutionary algorithm paves the way for future applications of quantum computing. As quantum computing gradually moves from the laboratory to practical applications, automated tools will become increasingly important. The technology developed by MicroAlgo is not only suitable for existing quantum computing tasks but also capable of addressing the more complex application demands of the future. Whether in fields such as chemical simulation, financial risk analysis, or cryptography, the design of quantum algorithms can be significantly enhanced through this evolutionary algorithm.

The multi-objective evolutionary algorithm represents a major breakthrough in quantum algorithm development. By combining a task-universal library, automated design, and multi-objective optimization, this algorithm not only simplifies the quantum circuit design process but also improves the efficiency and flexibility of circuits. The introduction of this technology marks a new stage in quantum computing, providing a solid foundation for the widespread application of quantum computers across multiple industries. In the future, as quantum hardware continues to advance, there is reason to believe that this multi-objective evolutionary algorithm will have an even more profound impact in the field of quantum computing and drive the emergence of more breakthrough achievements.

About MicroAlgo Inc.

MicroAlgo Inc. (the “MicroAlgo”), a Cayman Islands exempted company, is dedicated to the development and application of bespoke central processing algorithms. MicroAlgo provides comprehensive solutions to customers by integrating central processing algorithms with software or hardware, or both, thereby helping them to increase the number of customers, improve end-user satisfaction, achieve direct cost savings, reduce power consumption, and achieve technical goals. The range of MicroAlgo’s services includes algorithm optimization, accelerating computing power without the need for hardware upgrades, lightweight data processing, and data intelligence services. MicroAlgo’s ability to efficiently deliver software and hardware optimization to customers through bespoke central processing algorithms serves as a driving force for MicroAlgo’s long-term development.

Forward-Looking Statements

This press release contains statements that may constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond the control of MicroAlgo, including those set forth in the Risk Factors section of MicroAlgo’s periodic reports on Forms 10-K and 8-K filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, MicroAlgo’s expectations with respect to future performance and anticipated financial impacts of the business transaction.

MicroAlgo undertakes no obligation to update these statements for revisions or changes after the date of this release, except as may be required by law.

 

YAS ISLAND TO BE HOME OF SPHERE ABU DHABI, A NEW GLOBAL ICON FOR IMMERSIVE ENTERTAINMENT

The Department of Culture and Tourism – Abu Dhabi will invest USD 1.7 billion in the construction phase of this landmark project on Yas Island

Construction expected to be completed by the end of 2029

With a capacity of up to 20,000, Sphere Abu Dhabi will host immersive experiences, concert residencies, sporting spectacles and brand events

Exosphere to celebrate Emirati culture through large-scale art and visual storytelling

ABU DHABI, UAE, May 14, 2026 /PRNewswire/ — The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and Sphere Entertainment Co. (NYSE: SPHR) today announced that Yas Island has been selected as the location for Sphere Abu Dhabi, a landmark project with a construction phase cost of USD 1.7 billion. Poised to become a global icon, the venue will attract tourists from around the world, boost economic diversification, and strengthen Abu Dhabi’s sense of place for residents and visitors alike.

Yas Island to be home of Sphere Abu Dhabi
Yas Island to be home of Sphere Abu Dhabi

 

Sphere Abu Dhabi, which will be the first Sphere venue outside the United States, will be built on a plot of land between Yas Mall and SeaWorld Abu Dhabi, with lush green surroundings and proximity to other Yas Island theme parks and attractions. Construction on the venue is expected to be completed by the end of 2029.

HE Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, said: “Abu Dhabi has always built for the long term, and Sphere Abu Dhabi is a powerful demonstration of that commitment. In a region where the appetite for world-class experiences continues to grow, our USD 1.7 billion investment in its construction phase sends a clear signal: Abu Dhabi is open, ambitious, and unwavering in its direction. This project reflects the strength of Abu Dhabi’s international partnerships, built on shared ambition and mutual confidence in what this emirate represents as a global destination. Together, we are creating a venue that will draw our community, visitors, creators and investors to Yas Island and Abu Dhabi for decades to come. And at its heart, Sphere Abu Dhabi will be a platform for Emirati culture, Emirati talent and Emirati storytelling, shared with the world on the grandest stage ever built.”

James L. Dolan, Executive Chairman and Chief Executive Officer of Sphere Entertainment, said: “Sphere Abu Dhabi is the first step in realising our vision for a global network of venues. Abu Dhabi is a premier international capital city, and its ambition, infrastructure, and position as a cultural crossroads make it a natural home for Sphere. Sphere Abu Dhabi will establish Yas Island as a destination in the region for immersive experiences, and we look forward to working with DCT Abu Dhabi to see this venue come to life.”

Sphere Abu Dhabi will host three main categories of events, all powered by Sphere’s advanced experiential technologies: Sphere Experiences, proprietary immersive productions that feature multi-sensory storytelling; concert residencies; and marquee and brand events supported by flexible configurations to host everything from combat sports to conferences to product launches.

The entertainment offerings at Sphere Abu Dhabi will reflect Abu Dhabi’s status as a cultural crossroads. While still in development, plans include featuring fully immersive experiences that are the signature of Sphere in Las Vegas, in addition to the creation of Sphere Experiences that convey Emirati culture and heritage, and displaying Emirati artists’ work on the Exosphere, the spherical LED screen that forms the venue’s exterior. Concerts will feature local and other Arabic artists, as well as global stars.

Located a short drive from Zayed International Airport, Sphere Abu Dhabi will be a welcoming gateway to the emirate’s culture and entertainment offerings. With its proximity to Yas Island’s other hospitality and entertainment infrastructure, Sphere Abu Dhabi will reinforce Yas Island as a global events destination, not only for events at Sphere, but also by providing an exceptional backdrop, broadcast worldwide during the annual Formula 1 Etihad Airways Abu Dhabi Grand Prix.

The world’s first Sphere venue opened in Las Vegas in September 2023. Like the venue in Las Vegas, Sphere Abu Dhabi will be an experiential medium powered by advanced technologies that will transform the traditional venue model. The venue will also echo the scale of Sphere in Las Vegas, with a capacity of up to 20,000, depending on the configuration for a given event. Once open, Sphere Abu Dhabi’s ongoing operations will create thousands of jobs locally.

Another milestone in Abu Dhabi’s integrated destination development, Sphere Abu Dhabi will function as a global tourism magnet alongside other globally renowned projects such as Saadiyat Cultural District and the upcoming Disney theme park resort on Yas Island.

DCT Abu Dhabi will work with entities including the Department of Municipalities and Transport and its Integrated Transport Centre, the Department of Energy, Taqa, Etihad Rail and Aldar to ensure all components of the master plan including road enhancements, site access and site-wide infrastructure are coordinated with surrounding assets on Yas Island.

About the Department of Culture and Tourism – Abu Dhabi:

The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) drives the sustainable growth of Abu Dhabi’s culture and tourism sectors, fuels economic progress and helps achieve Abu Dhabi’s wider global ambitions. By working in partnership with the organisations that define the emirate’s position as a leading international destination, DCT Abu Dhabi strives to unite the ecosystem around a shared vision of the emirate’s potential, coordinate effort and investment, deliver innovative solutions, and use the best tools, policies and systems to support the culture, creative and tourism industries.

DCT Abu Dhabi’s vision is defined by the emirate’s people, heritage and landscape. We work to enhance Abu Dhabi’s status as a place of authenticity, innovation, and unparalleled experiences, represented by its living traditions of hospitality, pioneering initiatives and creative thought.
For more information about the Department of Culture and Tourism – Abu Dhabi and the destination, please visit: dctabudhabi.ae and visitabudhabi.ae

About Sphere Entertainment Co:
Sphere Entertainment Co. is a leader in immersive experiences, technology and media. The Company includes Sphere, an experiential medium powered by advanced technologies. The first Sphere opened in Las Vegas, with plans also announced for Sphere venues in Abu Dhabi and National Harbor. In addition, the Company includes MSG Networks, which operates two regional sports and entertainment networks, MSG Network and MSG Sportsnet, as well as a direct-to-consumer and authenticated streaming product, MSG+, delivering a wide range of live sports content and other programming. More information is available at sphereentertainmentco.com.

Forward-Looking Statements
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the expected completion of construction for Sphere Abu Dhabi. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments or events may differ materially from those in the forward-looking statements as a result of various factors, including, without limitation, unexpected costs, liabilities or delays in connection with the development and construction of Sphere Abu Dhabi and the factors described in Sphere Entertainment’s filings with the United States Securities and Exchange Commission, including the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein. Sphere Entertainment disclaims any obligation to update any forward-looking statements contained herein.

Video – https://mma.prnasia.com/media2/2980336/DCT_Abu_Dhabi_Video.mp4

James L. Dolan - Executive Chairman and Chief Executive Officer of Sphere Entertainment Co, HE Mohamed Khalifa Al Mubarak, Chairman of the Department of Culture and Tourism Abu Dhabi (DCT Abu Dhabi)
James L. Dolan – Executive Chairman and Chief Executive Officer of Sphere Entertainment Co, HE Mohamed Khalifa Al Mubarak, Chairman of the Department of Culture and Tourism Abu Dhabi (DCT Abu Dhabi)

 

 

Yas Island to be home of Sphere Abu Dhabi

YAS ISLAND TO BE HOME OF SPHERE ABU DHABI, A NEW GLOBAL ICON FOR IMMERSIVE ENTERTAINMENT

The Department of Culture and Tourism – Abu Dhabi will invest USD 1.7 billion in the construction phase of this landmark project on Yas Island

Construction expected to be completed by the end of 2029

With a capacity of up to 20,000, Sphere Abu Dhabi will host immersive experiences, concert residencies, sporting spectacles and brand events

Exosphere to celebrate Emirati culture through large-scale art and visual storytelling

ABU DHABI, UAE, May 14, 2026 /PRNewswire/ — The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and Sphere Entertainment Co. (NYSE: SPHR) today announced that Yas Island has been selected as the location for Sphere Abu Dhabi, a landmark project with a construction phase cost of USD 1.7 billion. Poised to become a global icon, the venue will attract tourists from around the world, boost economic diversification, and strengthen Abu Dhabi’s sense of place for residents and visitors alike.

Yas Island to be home of Sphere Abu Dhabi
Yas Island to be home of Sphere Abu Dhabi

 

Sphere Abu Dhabi, which will be the first Sphere venue outside the United States, will be built on a plot of land between Yas Mall and SeaWorld Abu Dhabi, with lush green surroundings and proximity to other Yas Island theme parks and attractions. Construction on the venue is expected to be completed by the end of 2029.

HE Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, said: “Abu Dhabi has always built for the long term, and Sphere Abu Dhabi is a powerful demonstration of that commitment. In a region where the appetite for world-class experiences continues to grow, our USD 1.7 billion investment in its construction phase sends a clear signal: Abu Dhabi is open, ambitious, and unwavering in its direction. This project reflects the strength of Abu Dhabi’s international partnerships, built on shared ambition and mutual confidence in what this emirate represents as a global destination. Together, we are creating a venue that will draw our community, visitors, creators and investors to Yas Island and Abu Dhabi for decades to come. And at its heart, Sphere Abu Dhabi will be a platform for Emirati culture, Emirati talent and Emirati storytelling, shared with the world on the grandest stage ever built.”

James L. Dolan, Executive Chairman and Chief Executive Officer of Sphere Entertainment, said: “Sphere Abu Dhabi is the first step in realising our vision for a global network of venues. Abu Dhabi is a premier international capital city, and its ambition, infrastructure, and position as a cultural crossroads make it a natural home for Sphere. Sphere Abu Dhabi will establish Yas Island as a destination in the region for immersive experiences, and we look forward to working with DCT Abu Dhabi to see this venue come to life.”

Sphere Abu Dhabi will host three main categories of events, all powered by Sphere’s advanced experiential technologies: Sphere Experiences, proprietary immersive productions that feature multi-sensory storytelling; concert residencies; and marquee and brand events supported by flexible configurations to host everything from combat sports to conferences to product launches.

The entertainment offerings at Sphere Abu Dhabi will reflect Abu Dhabi’s status as a cultural crossroads. While still in development, plans include featuring fully immersive experiences that are the signature of Sphere in Las Vegas, in addition to the creation of Sphere Experiences that convey Emirati culture and heritage, and displaying Emirati artists’ work on the Exosphere, the spherical LED screen that forms the venue’s exterior. Concerts will feature local and other Arabic artists, as well as global stars.

Located a short drive from Zayed International Airport, Sphere Abu Dhabi will be a welcoming gateway to the emirate’s culture and entertainment offerings. With its proximity to Yas Island’s other hospitality and entertainment infrastructure, Sphere Abu Dhabi will reinforce Yas Island as a global events destination, not only for events at Sphere, but also by providing an exceptional backdrop, broadcast worldwide during the annual Formula 1 Etihad Airways Abu Dhabi Grand Prix.

The world’s first Sphere venue opened in Las Vegas in September 2023. Like the venue in Las Vegas, Sphere Abu Dhabi will be an experiential medium powered by advanced technologies that will transform the traditional venue model. The venue will also echo the scale of Sphere in Las Vegas, with a capacity of up to 20,000, depending on the configuration for a given event. Once open, Sphere Abu Dhabi’s ongoing operations will create thousands of jobs locally.

Another milestone in Abu Dhabi’s integrated destination development, Sphere Abu Dhabi will function as a global tourism magnet alongside other globally renowned projects such as Saadiyat Cultural District and the upcoming Disney theme park resort on Yas Island.

DCT Abu Dhabi will work with entities including the Department of Municipalities and Transport and its Integrated Transport Centre, the Department of Energy, Taqa, Etihad Rail and Aldar to ensure all components of the master plan including road enhancements, site access and site-wide infrastructure are coordinated with surrounding assets on Yas Island.

About the Department of Culture and Tourism – Abu Dhabi:

The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) drives the sustainable growth of Abu Dhabi’s culture and tourism sectors, fuels economic progress and helps achieve Abu Dhabi’s wider global ambitions. By working in partnership with the organisations that define the emirate’s position as a leading international destination, DCT Abu Dhabi strives to unite the ecosystem around a shared vision of the emirate’s potential, coordinate effort and investment, deliver innovative solutions, and use the best tools, policies and systems to support the culture, creative and tourism industries.

DCT Abu Dhabi’s vision is defined by the emirate’s people, heritage and landscape. We work to enhance Abu Dhabi’s status as a place of authenticity, innovation, and unparalleled experiences, represented by its living traditions of hospitality, pioneering initiatives and creative thought.
For more information about the Department of Culture and Tourism – Abu Dhabi and the destination, please visit: dctabudhabi.ae and visitabudhabi.ae

About Sphere Entertainment Co:
Sphere Entertainment Co. is a leader in immersive experiences, technology and media. The Company includes Sphere, an experiential medium powered by advanced technologies. The first Sphere opened in Las Vegas, with plans also announced for Sphere venues in Abu Dhabi and National Harbor. In addition, the Company includes MSG Networks, which operates two regional sports and entertainment networks, MSG Network and MSG Sportsnet, as well as a direct-to-consumer and authenticated streaming product, MSG+, delivering a wide range of live sports content and other programming. More information is available at sphereentertainmentco.com.

Forward-Looking Statements
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the expected completion of construction for Sphere Abu Dhabi. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments or events may differ materially from those in the forward-looking statements as a result of various factors, including, without limitation, unexpected costs, liabilities or delays in connection with the development and construction of Sphere Abu Dhabi and the factors described in Sphere Entertainment’s filings with the United States Securities and Exchange Commission, including the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein. Sphere Entertainment disclaims any obligation to update any forward-looking statements contained herein.

Photo – https://laotiantimes.com/wp-content/uploads/2026/05/dct_abu_dhabi_photo_1.jpg
Photo – https://laotiantimes.com/wp-content/uploads/2026/05/dct_abu_dhabi_photo_2.jpg
Video – https://mma.prnasia.com/media2/2980336/DCT_Abu_Dhabi_Video.mp4

James L. Dolan - Executive Chairman and Chief Executive Officer of Sphere Entertainment Co, HE Mohamed Khalifa Al Mubarak, Chairman of the Department of Culture and Tourism Abu Dhabi (DCT Abu Dhabi)
James L. Dolan – Executive Chairman and Chief Executive Officer of Sphere Entertainment Co, HE Mohamed Khalifa Al Mubarak, Chairman of the Department of Culture and Tourism Abu Dhabi (DCT Abu Dhabi)

 

 

Yas Island to be home of Sphere Abu Dhabi