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Rain Raises $58M Series B Led By Sapphire Ventures to Become the Enterprise Stablecoin Platform of Record

Rain has experienced 10x growth in 2025 and now powers service to 1.5B+ people through a single integration

NEW YORK, Aug. 28, 2025 /PRNewswire/ — Rain, the enterprise-grade infrastructure for stablecoin-powered payments, today announced a $58 million Series B funding round led by Sapphire Ventures, with participation from Dragonfly, Galaxy Ventures, Endeavor Catalyst, Samsung Next, Lightspeed, and Norwest. The raise brings Rain’s total funding to $88.5M and comes just five months after the company’s Series A — cementing Rain’s role as the single integration global fintechs, banks, and marketplaces use to launch compliant stablecoin-powered cards, wallets, and payment programs.

Enterprise interest in stablecoins has surged following the GENIUS Act in the U.S. and the MiCA framework in Europe, which have created a clear regulatory path for adoption. Rain’s vertically integrated platform enables partners to embed stablecoins into products and operations — covering money-in, storage, spending, and money-out — all through one API. Partners can compliantly launch programs to over 1.5 billion people today, with expansion underway into Europe, the Middle East, Africa, and Asia-Pacific.

Rain has pioneered making stablecoins instantly usable anywhere Visa is accepted through its physical and virtual card programs, processing millions of transactions across 150+ countries. The company’s transaction volume has grown 10x since January 2025, with portfolio partners — including Nuvei, Avalanche, Dakota, and Nomad — using Rain’s infrastructure for merchant payouts, everyday consumer purchases, B2B spend, and cross-border payroll.

“Stablecoins are shifting to the backbone of global commerce,” said Farooq Malik, CEO and Co-founder of Rain. “In its earliest form, money moved instantly. We’ve spent centuries slowing it down. Rain is bringing that simplicity back to billions of people, but now it works across any border, any platform, and any currency.”

Rain is a Visa Principal Member and uniquely settles 100% of card payment volume directly in stablecoins on the Visa network. The platform is built natively for stablecoins, not retrofitted from fiat rails, and meets enterprise compliance standards including PCI DSS, SOC 2, and audited smart contracts.

“Stablecoins have scaled to hundreds of billions in circulation, but until now, they couldn’t be easily spent. Rain is working to fix that by connecting stablecoins to Visa’s global network, turning them into money you can actually use for everyday commerce. We’re proud to partner with Farooq, Charles, and the Rain team as they redefine the future of payments,” said Jai Das, President and Partner at Sapphire Ventures, as well as Rain’s newest Board Director.

The new funding will be used to expand Rain’s platform and services to give global institutions the most flexible, modular, and compliant stablecoin infrastructure available. The company is also investing in hiring across engineering, commercial, and compliance teams; helping existing partners scale programs; and entering into new markets where enterprises are embracing stablecoin-based payment workflows.

About Rain: Rain is the global stablecoin infrastructure platform for enterprises, neobanks, platforms, and developers. Our technology allows partners to move, store, and use stablecoins instantly and compliantly through global payment cards, on/off-ramps, wallets, and cross-border rails. As a Visa Principal Member, Rain issues cards that work anywhere Visa is accepted, powering millions of purchases in over 150 countries. Built natively for stablecoins and trusted by more than 100 organizations worldwide, Rain delivers secure, scalable infrastructure that makes money move freely and instantly around the world. Learn more at https://www.rain.xyz/.

About Sapphire Ventures: Sapphire is a global software venture capital firm with over $11 billion in AUM and team members across Austin, London, Menlo Park and San Francisco. For more than two decades, Sapphire has partnered with visionary management teams and venture funds to back companies of consequence. Since its founding, Sapphire has invested in more than 170 companies globally resulting in more than 30 Public Listings and 45 acquisitions. The firm’s investment strategies — Sapphire Ventures, Sapphire Partners and Sapphire Sport — are focused on scaling companies and venture funds, elevating them to become category leaders. Sapphire’s Portfolio Growth team of experienced operators delivers a strategic blend of value-add services, tools and resources designed to support portfolio company leaders as they scale.

Media Contact:
Lucas Piazza
Marketing Lead, Rain
lucas@rain.xyz 

Reallusion Officially Launches Character Creator 5, Powering the Next Generation of HD Character Creation

SAN JOSE, Calif., Aug. 28, 2025 /PRNewswire/ — Reallusion officially releases Character Creator 5 (CC5), a major upgrade that brings the character creation ecosystem into the HD era. Its powerful subdivision workflow bridges game-ready 3D characters with film-quality rendering. This release includes all-new HD Morphs, anatomically accurate human bases, the next-gen ActorMIXER PRO plugin, and an advanced HD facial animation system. Step into the future of expressive, lifelike, production-ready digital humans.

Reallusion officially releases Character Creator 5 (CC5), a major upgrade that brings the character creation ecosystem into the HD era.
Reallusion officially releases Character Creator 5 (CC5), a major upgrade that brings the character creation ecosystem into the HD era.

With CC5, existing users can upgrade their legacy characters to HD quality, unlock Extended+ or HD facial profiles, and immediately benefit from enhanced facial animation capabilities. All previously purchased CC plugins and iClone software will also receive free upgrades to ensure full compatibility with CC5.

Raising the Bar for Real-Time HD Character Creation

Since its 2015 debut, Character Creator has become a leading solution for professional 3D character development. With the release of the next-generation CC5, Reallusion raises the bar once again by introducing a powerful new HD character base that supports up to 16 times more mesh detail with one-click subdivisioning.

Paired with enhanced shaders, high-resolution eyes, whole new eyelash system, and full displacement map support, CC5 delivers cinema-quality visuals with real geometric depth (even for real-time editing). Whether for film-quality close-ups or performance-optimized game development, CC5 offers the fidelity and flexibility needed to meet the demands of any creative pipeline.

The system also includes HD morphs that add layers of anatomical detail without altering the character’s bone structure or main proportions. It’s a revamp that allows the same base mesh to become slimmer or fuller, define feminine curves or muscular forms, or even portray graceful aging.

With these advancements, CC5 redefines what’s possible for instantaneous character design, making it the ideal creative hub for Blender, Maya, and other major solutions.

Next-Gen Facial Animation for True-to-Life Expressions

Facial expressions are key to believable character performance, and CC5 takes them further with a completely overhauled HD Expression Profile. Each expression now drives an expanded set of blendshapes, enabling precise micro-expressions that capture subtle emotional shifts. From a smirk to a furrowed brow or the twitch of an eyelid, every nuance can be rendered for greater impact. In total, artists gain finer control over emotional detail, helping to enhance storytelling across games, film, and other forms of media.

A newly introduced Corrective Expression System ensures that all blended expressions remain within anatomically accurate ranges, preventing visual distortion while maintaining facial structure. While non-linear animation curves and mesh elasticity empower realistic motion details such as sticky lips, squints, and tension in the brows. The entire system will be fully supported in iClone, with updates to facial mocap tools for iPhone, AccuFACE.

ActorMIXER, the Smarter Character Generator

Introduced with Character Creator 5, ActorMIXER is a revolutionary character blender that enables non-destructive mixing and matching of entire characters, facial features, and head shapes to create unique appearances. Whether combining stylized elements with realistic traits or recombining parts from different characters, it preserves full rigging and animation compatibility. ActorMIXER empowers rapid prototyping and creative exploration without compromising control or quality.

For professional artists, the ActorMIXER PRO plugin unlocks advanced features and the full ActorMIXER CORE Library, providing deeper customization and expanded asset access. Any character can be made “mixable” by converting it into Mixer sliders and skins. With one-click randomization, diverse characters can be generated; or use the ActorMIXER Packager to create and share custom Mixer assets that are built for collaboration and commercialization.

Seamless Integration with Major Industry Pipelines

Maya & Marmoset Toolbag

CC5 expands its Auto Setup ecosystem to include Maya Arnold and Marmoset Toolbag, offering automatic shader assignments and facial rig compatibility for streamlined character transfer, animation editing, and final rendering.

Professionals can now combine cinematic-level character creation in CC5, intuitive face and body animation editing in iClone 8, and ready-to-use motions and assets from Reallusion to accelerate animation and lookdev productions.

ZBrush Subdivision Workflow

CC5 integrates seamlessly with ZBrush via GoZ, enabling high-resolution sculpt data to be baked directly onto subdivided characters. Artists can convert sculpted detail into normal and displacement maps, maintaining fidelity throughout the sculpt-to-animation process.

The upgraded Face Tools now support wrinkle-to-displacement baking and 8K textures, giving ZBrush users powerful tools to enhance expression realism and fine-tune facial surface detail with precision.

Blender Support

The latest upgrade to Blender Auto Setup adds support for both Eevee and Cycles render engines, along with adjustable material-based displacement maps, allowing you to fine-tune displacement strength directly in Blender.

CC5 characters can be exported with HD facial animations and wrinkle displacements, including controls for wrinkle intensity and playback speed. HD iClone animations can also be imported into Blender, fully compatible with the HD Face Board that utilizes MetaHuman-style facial controls. These features work seamlessly with both standard and extended facial profiles.

Unreal Engine and MetaHuman Interoperability

For Unreal developers, CC5 introduces a suite of enhancements to streamline animation and character deployment. CC characters can now be exported with skeletons optimized for Unreal Engine 4 and 5, including bind poses tailored for MetaHuman and UEFN formats, ensuring precise motion retargeting and real-time gameplay control.

CC5 HD characters and MetaHumans now share the same skeleton structures and facial control standards compatible with the AutoSetup plugin. Characters can swap directly with MetaHuman counterparts in Unreal Sequencer, allowing the direct application of MetaHuman animations without tedious motion retargeting. This update makes CC characters fully compatible with Unreal’s MHA facial capture, body mocap, and audio-to-face syncing, delivering a unified animation workflow inside Unreal Engine.

For iClone developers, the new Unreal Live Link update adds UE5 skeleton, enabling one-click character and motion transfer to UE5.5/UE5.6. MetaHuman facial animations can also be imported for realistic talking performances, with matching HD Face controls available as a free download for high-definition facial refinement and seamless MetaHuman data compatibility.

CC5 Deluxe – UNLEASH THE FULL POTENTIAL OF Character Creator 5

Harness the full power of Character Creator 5, the centerpiece of next-level character creation. CC5 Deluxe enhances your workflow with ActorMIXER PRO, the full ActorMIXER Core Library, and a collection of HD skins. Refine every detail with the HD Ultimate Morphs Pack, and receive the HD Human Anatomy Set (valued at $990) as an exclusive bonus. Whether you’re a seasoned artist or just getting started, CC5 Deluxe is the best starter kit to instantly elevate your creativity to a pro level.

HD Ultimate Morphs Pack

Step into a new era of realism with the HD Ultimate Morphs Pack. Featuring 152 meticulously organized body morphs and 20 head types across 12 core body styles, each slider allows for precise refinement—from facial micro-details to full-body adjustments—all without altering base proportions. Powered by the Subdivision workflow, this system offers sculpting freedom like never before. For optimized performance, HD morphs can also be baked into normal maps at lower subdivision levels without compromising visual quality.

HD Human Anatomy Set

The HD Human Anatomy Set includes 12 fully rigged, animation-ready characters built from high-resolution 3D scan data, with both 2K and 4K texture options for real-time and cinematic use. Every character is ActorMIXER-ready and fully modular—allowing users to mix and match faces and bodies by simply dragging elements into the Mixer Wheel and previewing results instantly. This set maximizes the power of ActorMIXER and is exclusive to CC5 Deluxe buyers.

Join the “#MyFirstCC5” Event for Prizes

To celebrate the launch of Character Creator 5, Reallusion invites creators worldwide to join the My CC5 Foray event. This month-long celebration lets creators share their first CC5 character on the Reallusion Forum and Instagram using the hashtag #MyFirstCC5. From September 1 to 27, 2025, weekly winners will be selected on both platforms to receive exclusive HD Morph content, and forum participants will also earn a limited-edition badge.

Ready to showcase your first CC5 creations and win prizes? Join the discussion on the Reallusion Forum, start your 30-day free trial of Character Creator 5 and ActorMIXER PRO today and experience the full creative power of real-time HD character design.

Village Grocer Announced Expansion in Johor with New Outlet in IOI Mall, Bandar Putra Kulai.

Village Grocer’s rapid growth this year now open its 34th new supermarket outlet at IOI Mall, Kulai in Johor. The iconic one-stop destination that caters an array of F&B delicacies, fashion boutiques, handphones and accessories, groceries and on demand wellness and healthcare.

JOHOR BAHRU, Malaysia, Aug. 28, 2025 /PRNewswire/ — Village Grocer officially open its 34th supermarket outlet, located in IOI Mall, Bandar Putra Kulai in Johor. This is the 3rd Village Grocer outlet in Johor. Kulai marks another milestone for Village Grocer, as the brand continues to expand its footprint and bring its premium grocery offers to communities in Johor. The new Village Grocer will serve as a one- stop destination for discerning shoppers seeking the freshest produce, high-quality meats, artisanal baked goods, and a wide selection of specialty and gourmet items.

Village Grocer Announced Expansion in Johor with New Outlet in IOI Mall, Bandar Putra Kulai.
Village Grocer Announced Expansion in Johor with New Outlet in IOI Mall, Bandar Putra Kulai.

“We are pleased to welcome Village Grocer to IOI Mall Kulai as this partnership brings the first premium grocer within a 10-kilometer radius to the estimated population of over 70,000 residents of our Bandar Putra Kulai township and the wider Kulai and Senai communities. This collaboration reflects our 30-year commitment to nurturing a vibrant community and elevating the lifestyle of our residents. We believe this premium offering will not only raise the standard of daily living but also enhance our IOI Mall Kulai’s appeal as the central hub for lifestyle, dining, and shopping. We look forward to fostering a long-term partnership that brings sustained value to our tenants, patrons, and the communities we serve.”– IOI Properties Group’s Chief Operating Officer – Southern Region, Mr. Lim Beng Yeang.

The Food Purveyor’s Group Executive Director, Mr. Ivan Tan, expressed his delight in inaugurating their newest supermarket location at IOI Mall, Bandar Putra Kulai. He conveyed the company’s pride in being recognized and accepted by IOI Mall. “Although we join late, but we offer a whole new grocery shopping experience to the community here by offering Village Grocer’s exceptional service and unparalleled product selection”.

The Food Purveyor’s Chief Executive Officer, Mr. Kok Kian Kee shared that Kulai is a strategic location for Village Grocer expansion and there has been constant demand for Village Grocer to open and serve the Kulai communities. “We still believe in bringing exceptional grocery experience closer to home, convenient and within reach. We may also consider providing grocery delivery service to really eliminate the need to travel the distances to access to fresh and quality groceries for your family”.

As a homegrown brand, Village Grocer is committed to giving back to local communities. It actively supports and source from local farmers, small businesses, and local brands. Village Grocer is also passionate about sustainability and has set a goal to be plastic-free. Its environmental, social and governance efforts have earned Village Grocer several awards. 

  • To celebrate the grand opening, Village Grocer is offering a host of special giveaways and promotions throughout the entire month, until 28th Sept 2025.
    • Shoppers can enjoy Savoir Classic Egg Grade C 30s FREE with minimum purchase of RM 150 per transaction from 28 Aug – 1st Sept 2025. Terms and conditions apply. While stocks last.
    • Bumper Bonanza – a one (1)-day-only-deal offering the best deal in town!
    • The first 100 customers who spend min RM150 can redeem an exclusive goodie bag for free from our customer service counter, and if you managed to spend RM300, get both the goodie bag and a free Fruit & Vegetables giftbag containing the freshest picks and harvest prepared by us, limited to the first 50 redemptions only. While stocks last, don’t miss out!
  • Sign up Bites membership to collect points, earn rewards and enjoy members only price offer. Spend RM2 to earn 1 Bites point.

About Village Grocer:

Village Grocer is one of the leading premium supermarket chain, known for its commitment to offering the finest quality products, exceptional customer service, and a unique shopping experience. With 32 locations across the country, Village Grocer is dedicated to bringing the best of local and international gourmet items to discerning shoppers, while maintaining the highest standards of sustainability and environmental responsibility.

Village Grocer IOI Mall, Bandar Putra Kulai open daily from 10 a.m. to 10 p.m. and look forward to serving the Kulai community and creating memorable shopping experiences for years to come.

For more information, visit villagegrocer.com.my.

HTX Commits to Fulfilling Global Corporate Responsibility: Building a Charity Chain to Deliver Love and Care

PANAMA CITY, Aug. 28, 2025 /PRNewswire/ — In the context of accelerated globalization, enterprises are being entrusted with a greater social responsibilities. For HTX, this responsibility extends beyond maintaining robust platform operations and continuously improving services—it also includes sustained commitment to societal welfare and proactively responding to the needs of vulnerable groups worldwide.

Over the past year, HTX and HTX DAO have visited multiple regions both at home and abroad, actively carrying out charity initiatives. Collaborating with local welfare institutions and philanthropic organizations, HTX and HTX DAO have provided both material support and emotional comfort to orphans, the elderly, and other disadvantaged groups, striving to ensure more people feel warmth and respect.

Establishing Genuine Connections with Communities

In Izmir, Turkey, HTX partnered with a local infant protection agency to provide essential supplies for abandoned newborns, and personally participated in visits and exchanges. There, team members delivered donations directly to caregivers and witnessed infants sleeping peacefully under the care of volunteers. Surmounting language barrier, a profound mutual understanding was fostered through kindness.


HTX’s Cross-Generational Compassionate Support in the CIS Region

The HTX team partnered with the St. Great martyr Catherine’s abode of virtue Georgia, to visit orphans, the elderly, and individuals with cognitive impairments residing there. Some of them were bedridden for extended periods, while others were nearly cut off from the outside world—but HTX’s visit broke through that silence. At that moment, charity was no longer an abstract concept, but a genuine act of companionship.


Contribution to Chi Minh City, Vietnam

At the Tam Binh Child Nurturing and Protection Center in Ho Chi Minh City, HTX donated food supplies and also provided direct financial assistance to improve the daily lives of the children. Local staff emphasized that such international support is immensely meaningful—not only easing operational pressures but also offering profound emotional encouragement.


Ongoing Commitment in Indonesia

Indonesia remains a dedicated site for HTX’s charitable efforts. Since 2024, HTX has engaged deeply with local welfare institutions, delivering meals and essential supplies to children for two consecutive years. Rather than opting for one-off donations, HTX emphasizes sustained contact and companionship—turning charity into a long-term bond of trust, not a fleeting consolation.


Championing DeFi-inspired Philanthropy Domestically

Within China, HTX DAO has embraced decentralized philanthropy by collaborating with prominent Web3 philanthropists and bestowing the title of “Charity Ambassador.” In January, HTX DAO officially named Loyal (Lu Yao) as HTX DAO Charity Ambassador, minting a bespoke Soulbound Token (SBT) to honor his commitment to decentralized charity and the Web3 ethos. Following this, HTX DAO and Loyal co-hosted a series of charity events focused on supporting children with special needs and those in remote areas—bringing warmth and hope to dozens through meaningful engagement.


Embedding Long-Term Philanthropy into Our Brand DNA

HTX regards charitable work as a core element of its global brand strategy. Each initiative embodies respect for local cultures and serves as an opportunity for fostering deep, bilateral connection. Through collaboration with local charitable institutions, HTX delivers both material aid and establishes stable, friendly relationships, facilitating mutual growth in localization and brand affinity.

For HTX, charity is not just an afterthought—it’s an essential part of the company’s growth journey. While offering premier crypto services, HTX continuously explores how it can leverage corporate strength to respond to global challenges—whether in terms of poverty, aging, or improving conditions for child development.

Looking ahead, HTX will continue to uphold its philosophy of “long-term commitment + human-centered care,” translating love and responsibility into grounded actions. We believe every small act can become a starting point for a better world; every step into communities expands the boundary of trust between the platform and its users.

Charity is not the destination—it’s the commencement. HTX is always on the journey.

About HTX

Founded in 2013, HTX (formerly Huobi) has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.

As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,” HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.

To learn more about HTX, please visit https://www.htx.com/ or HTX Square , and follow HTX on X, Telegram, and Discord

Expats experience services in Qianhai: No Red Tape, Only Red Carpets


SHENZHEN, CHINA – Media OutReach Newswire – 28 August 2025 – On the morning of August 27, “Qianhai Block V” was officially launched with the presence of representatives from various sectors in Shenzhen and Hong Kong. As the latest landmark for international talent innovation in Qianhai, Shenzhen, “Qianhai Block V” is rapidly emerging as an international talent hub that integrates the “innovation chain, industry chain, capital chain, and talent chain”. It is also propelling Qianhai to become a “golden stage” for talent to realize their dreams. By offering latest policy consultations, an easy access to optimal venture capital resources, and the most precise job matching, it will greatly support Shenzhen in building the best technology innovation ecosystem and talent development environment.

Qianhai Block V
Qianhai Block V

With the further optimization of its supporting infrastructure and policies, Qianhai vividly demonstrates how to break down administrative barriers with the “service cycle” and attract talent through “hardcore policies”. By fulfilling its promise of “no red tape, only red carpet”, today’s Qianhai has become a “preferred gateway” for international talent to integrate into the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).

“It’s incredibly efficient! There’s no need to run between multiple departments. The entire process from seeking consultation to completing the paperwork was much smoother than I expected.” After experiencing the one-stop services at Qianhai International Talent Hub, American blogger Alysa Kees, known as “Qi Shiwen” in China, shared her feelings with overseas audiences on camera.

Qianhai Block V
Qianhai Block V

In Qianhai, the “one-stop convenience” that Qi Shiwen experienced has long permeated every aspect of talent services. The international talent hub has integrated 700 services covering the full spectrum of employment, entrepreneurship, and living. There are dedicated counters for foreign talent to apply for work permits and for Hong Kong and Macao residents to consult on cross-border living matters. Furthermore, through the “In Qianhai” smart digital platform, overseas individuals can schedule visa appointments and access policies online in advance. By entering their career direction and living preferences, users can receive instant, tailored recommendations on suitable companies, housing, and subsidies. This makes talent services truly within reach, thus realizing a talent ecosystem at their fingertips.

The latest data reveals that Qianhai is currently home to over 3,000 foreign professionals, more than 5,000 foreign residents and over 51,000 holders of postgraduate degrees or higher. With a total of 660,000 professionals engaging in modern services and industrial technology sectors, Qianhai has been a growing magnet for talent.

Convenient living amenities are a key reason why numerous professionals choose to stay in Qianhai. To address cross-border living needs, Qianhai has introduced thoughtful initiatives: Hong Kong residents can use their local e-wallets directly for frequent daily spending scenarios without switching payment methods; cross-border salary payments are processed with a single click, eliminating repeated bank verification and significantly improving the efficiency of financial transactions. Beyond daily transactions and financial matters, family-related needs have also been carefully considered. To accommodate the educational plans of different families, multiple international schools offer curricula from kindergarten to high school. In terms of healthcare, Hong Kong-style medical institutions provide familiar consultation models and language services, thus ensuring a smoother transition for cross-border living.

Through the “Strive and Rise Programme”, Hong Kong is actively positioning Qianhai as a preferred destination for its youth entrepreneurs so as to deepen cross-border cooperation. In August, 160 middle school students from Hong Kong visited the Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub (E-hub) and Tencent Technology Innovation Workshop. While experiencing AI technology firsthand, they gained an in-depth understanding of relevant policies, such as “RMB 1 for office space” and “special fund for technology innovation” and the entrepreneurial advantages offered by Qianhai.

For aspiring entrepreneurs, Qianhai has provided a favorable platform for them to shine. Its entrepreneurial support spans the entire lifecycle. In the startup phase, the “RMB 1 for entry” policy allows qualified teams to obtain office space at low cost, coupled with mentorship for market analysis. During the growth phase, they can apply for a fund of RMB 500 million to help solve their financial challenges. The model of “R&D in Hong Kong and Commercialization in Qianhai” enables a rapid connection to the industrial chains in the Chinese mainland.

From the seamless services experienced by foreign talent and the entrepreneurial enthusiasm of Hong Kong youth to the rapid growth of startups, Qianhai has turned its promise of “no red tape, only red carpet” from a slogan into a daily reality for those pursuing their dreams here.

In days to come, Qianhai will continue to deepen cross-border service innovation, enhance full-cycle entrepreneurial support, and expand its distinctive industrial ecosystem. This will enable more global talent to navigate their undertakings with greater ease and confidence. While enjoying efficient and convenient services, they will unleash their value in the thriving industrial landscape and write a new chapter of open development in the GBA.

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

NetDragon Announces 2025 Interim Financial Results

Operating Expenses Reduced by 16% To Date, Full Impact Anticipated in H2 2025 and Beyond

Announcing Shareholder Return Program of No Less Than HKD600 Million

Embracing the New AI Era: AI Content Factory Empowering the Entire Company

HONG KONG, Aug. 28, 2025 /PRNewswire/ — NetDragon Websoft Holdings Limited (“NetDragon” or the “Company”; Hong Kong Stock Code: 777), a global leader in building internet communities, today announced its financial results for the first half of 2025. NetDragon’s management team will hold a conference call and webcast at 10:00am Hong Kong time on 29 August 2025 to discuss the results and recent business development.

Dr. Dejian Liu, Chairman of NetDragon, commented: “We maintained stable operations despite temporary challenges in the first half of 2025. The gaming business advanced its execution under the established ‘Evergreen Operation Plan’. While this led to short-term revenue fluctuations, gaming performance has now stabilised, showing only a marginal HoH decline in revenue. Meanwhile, Mynd.ai business was affected by external factors including increased tariffs and softening demand in its key markets. While challenges persist, our efforts to streamline operations and enhance cost efficiency have resulted in a 15.6% YoY reduction in the Company’s operating expenses with full impact anticipated in the second half of 2025 and beyond, paving the way for future profitability.”

“We are confident in our long-term sustainable growth and value-creation potential. With solid results from multiple strategic investments and robust cash reserves, we are well positioned to further our commitment of enhancing shareholder returns. The Board of Directors has approved an interim dividend of HKD0.5 per ordinary share, representing an increase of 25% YoY, and a distribution of no less than HKD600 million to our shareholders over the next 12 months through a combination of dividend payments and share repurchases (Shareholder Return Program).”

“For the longer term of development, we fully embraced the new artificial intelligence (AI) era and upheld our vision of ‘Infinite Growth’, while further advancing the execution of our dual-focus strategy – ‘AI+Gaming’ and ‘AI+Education’. In the gaming sector, our evergreen flagship IP Eudemons continued to elevate content quality and launched a series of crossover collaborations with cultural heritage projects and public welfare initiatives, leading to sustained growth in user engagement. Meanwhile, our Conquer IP delivered solid progress in overseas expansion and content monetisation. The ‘Content+Esports’ engine for Heroes Evolved IP proved to be a significant success. In the education sector, we implemented a systematic restructuring of our domestic EdTech businesses, sharpening our focus on core AI-powered projects such as country-level platforms, as well as the vocational education business. Our U.S.-listed subsidiary, Mynd.ai, successfully launched its next-generation integrated solution, ActivPanel 10® and Promethean ActivSuite® software, and reached an agreement to acquire an award-winning AI voice assistant technology, leveraging our vast user base to further enhance our SaaS offerings. In addition, we introduced Zhongke WengAI (“Wenge”), a leading AI large language model company in China, as a strategic shareholder of our Hong Kong-based subsidiary Cherrypicks to support its AI evolution. In August, Cherrypicks and Wenge jointly released three co-developed AI applications: the international version of X-Agent (AI-powered zero-code enterprise agent factory), WiSky (multilingual intelligence platform with AI-powered social listening for global decisions), and YoYa (multimodal creative studio with AI-powered all-in-one intelligent audio-video synthesis). This milestone marks the first time that China’s core AI technologies have been brought to global markets under the lead of a Hong Kong enterprise. In early June, we unveiled our strategy of empowering global digital education development through AI Content Factory at the United Nations High-level Expert Group Meeting in New York, as we move forward with partners to build a global education metaverse platform.”

2025 First Half Financial Highlights

  • Revenue was RMB2.4 billion, representing a 27.9% decrease YoY.
  • Revenue from the gaming and application services was RMB1.7 billion, representing 73.0% of the Company’s total revenue and reflecting an 18.1% decrease YoY, but the performance has stabilised with a 4.3% decrease HoH.
  • Revenue from Mynd.ai business was RMB641 million, representing 26.9% of the Company’s total revenue and a 45.7% decrease YoY, reflecting the extended demand adjustment caused by economic uncertainty.
  • Gross profit was RMB1.7 billion, representing a 24.7% decrease YoY, whereas gross profit margin increased 2.9 percentage points to 69.5% YoY.
  • Operating expenses decreased by 15.6% YoY to RMB1.4 billion, reflecting the early impact of our cost reduction and efficiency improvement measures, which are expected to be fully realised in the second half of 2025.
  • Profit attributable to owners of the Company was RMB30 million, representing a 92.5% decrease YoY, affected by an impairment loss of intangible assets as of 30 June 2025 which is expected to fully reverse in the second half of 2025 based on the current market price, as well as one-off expenses associated with the staff optimisation plan. Excluding these two items, the decrease in adjusted profit attributable to owners of the Company significantly narrowed.
  • The Company declared an interim dividend of HKD0.5 per ordinary share for the six months ended 30 June 2025.
  • Segmental Financial Highlights

2025 First Half

2024 First Half

Variance

(RMB million)

Gaming and
application
services

Mynd.ai
business

Gaming and
application
services

Mynd.ai
business

Gaming and
application
services

Mynd.ai
business

Revenue

1,738

641

2,121

1,180

-18.1 %

-45.7 %

Gross profit

1,498

163

1,849

351

-19.0 %

-53.6 %

Gross margin

86.2 %

25.4 %

87.2 %

29.7 %

-1.0 ppts

-4.3 ppts

Core segmental profit (loss)

501

(195)

688

(111)

-27.2 %

+75.7 %

Segmental operating expenses[1]

–       Research and development

(436)

(104)

(595)

(101)

-26.7 %

+3.0 %

–       Selling and marketing

(197)

(139)

(210)

(139)

-6.2 %

–       Administrative

(330)

(118)

(324)

(200)

+1.9 %

-41.0 %

[1] Segmental operating expenses exclude unallocated expenses/income such as directors’ emoluments and certain
administrative expenses that have been grouped into SG&A categories on the Company’s reported consolidated
 
financial statements, but cannot be allocated to specific business segments for purpose of calculating the segmental
profit (loss) figures in accordance with HKFRS 8.

Gaming and Application Services Business 

Revenue from our gaming and application services amounted to RMB1.7 billion in the first half of 2025, representing a decrease of 18.1% YoY and a slight decrease of 4.3% HoH. We remain committed to long-term operations and the development of evergreen IPs. While revenue experienced a temporary decline due to certain short-term factors, we continued to enhance player experience, drive user growth, and strengthen engagement – laying a solid foundation for the long-term sustainability of our gaming business. With the continued progress of business optimisation, segmental operating expenses have been effectively controlled, representing a decrease of 14.7% YoY, while core segmental profit rebounded HoH to RMB501 million, demonstrating strong resilience and positive recovery momentum.

In the gaming sector, the deployment of the AI Content Factory further enhanced operational efficiency: The overall workforce structure has been enhanced to further align with the AI era, thereby strengthening team capability and cohesion, which led to a 26.7% YoY reduction in R&D costs across the gaming and application service segment. Alongside cost optimisation, our “AI+” strategy has also significantly boosted our efficiency: different gaming teams under the same IP now collaborate more effectively through the AI Content Factory, achieving better integration and greatly enhancing cross-version content collaboration and automated generation capabilities. Our R&D and innovation efforts also closely align with the AI trends: Our major new title, Code-MY, started its closed beta testing for IP users in August, with preparations for its official launch underway. The mobile game Code-Alpha is preparing to expand into multiple overseas markets. With the support of AI Content Factory, our flagship IP Eudemons will be able to efficiently roll out multi-language versions, opening new opportunities overseas. Meanwhile, Legend of Eudemons was successfully launched on several mini game platforms in the first half, further enhancing the IP’s influence. In addition, our other self-developed IPs such as Under Oath and Zero Online, are scheduled for release through publishing and licensing partnerships, bringing in additional revenue. Looking forward, we are positioning the long-term R&D focus on AI-native games. We have already built preliminary capabilities in AIGC graphical design, multi-agent collaboration, intelligent NPC, closed-loop data iteration, data safety and compliance, planning to roll out prototypes by phases to lay the foundation for next-generation gaming innovation.

In the application services sector, we further advance our strategy of fully embracing the new AI era: Our domestic EdTech business will focus on core AI-powered projects such as country-level platforms, as well as vocational education business. In Thailand, our AI-driven vocational education project collaborated with the Ministry of Higher Education, Science, Research, and Innovation (MHESI) was officially launched, providing nationwide training in fields such as new electric vehicles for university students and the broader youth community. Supported by the World Bank, we signed a cooperation agreement with the Ministry of Secondary Education of Cameroon (MINESEC) to enhance digital education in the country, with the aim of improving education equity and teaching quality. Our Hong Kong-based subsidiary Cherrypicks successfully secured strategic investment from Wenge and will serve as its sole overseas commercialisation and go-to-market platform, facilitating the rollout of China’s leading AI technologies in Hong Kong, Macau, and overseas markets. Wenge’s “YaYi” large language model and its AI- Scientist Agent ranked first across two global AI Agent benchmarks in 2025, underscoring its world-class R&D capabilities. In August, Cherrypicks and Wenge jointly launched AI applications including social listening and multimodal content creation tools globally. Leveraging Hong Kong’s position as an international innovation and technology hub and its multilingual environment, these products will expand into overseas markets such as Southeast Asia, Europe, and the U.S. Beyond creating new revenue streams, this strategic partnership will further strengthen our AI capabilities and resources.

Beyond the gaming and application services business, the strategic value of the Company’s initiatives in frontier technologies and the AI+ ecosystem continues to materialise: Our investee in AI edge devices successfully launched a new generation of AI glasses, marking a key breakthrough in consumer applications. In cultural creativity and IP operations, the influence of our investee’s flagship IP portfolio further expanded, driving stronger commercialisation. Going forward, we will continue to focus our strategic investments on frontier technologies including AI, XR, robotics, and blockchain, as well as the cultural innovation sector, ensuring solid synergy effects with our core businesses.

Mynd.ai

Notwithstanding industry-wide softening throughout most of our key geographic markets, customer budget uncertainties, and increased tariffs, we are focused on positioning Mynd.ai for future success. The introduction of our next-generation integrated solution, ActivPanel 10® and Promethean ActivSuite® software, is the first step in the transformation of our core offerings designed to enhance cybersecurity, facilitate a seamless “plug and play” experience with customers’ existing technology, and lower lifetime cost of ownership. The accelerated product portfolio evolution is further enabled and enhanced by our continued focus on various cost optimisation initiatives designed to improve our competitive positioning in the market and facilitate further investments in our business. On the investment front, we are very excited to highlight our entry into an agreement to acquire an award-winning AI voice assistant technology, which we expect to complete during the third quarter. We believe that this acquisition will allow us to accelerate and evolve our AI-enabled solution roadmap and significantly enhance the interaction of the full ecosystem of software and hardware offerings in a classroom.

The key financial highlights for Mynd.ai in the first half of 2025 are as follows:

  • Revenue of RMB641 million compared to RMB1,180 million for the same period in the prior year, with the decrease primarily driven by declines in customer spending due to budgetary reductions caused by economic uncertainty
  • Core segmental loss of RMB195 million compared to a loss of RMB111 million for the same period in the prior year
  • Cash flow from continuing operations decreased by RMB239 million compared to the same period in the prior year, with cash reserves of RMB208 million as of June 30, 2025
  • Reduced outstanding indebtedness by RMB53 million since year end
  • Management continuing to implement cost saving measures to mitigate effects of education technology market headwinds

Management Conference Call and Webcast

NetDragon’s management team will hold a conference call and webcast at 10:00am Hong Kong time on 29 August, 2025 to discuss the results and recent business developments.

Details of the live conference call and webcast are as follows:

Webcast

https://webcast.roadshowchina.cn/njMGbE

International

+852 2112 1888

Mainland China                                       

HK (China)

4008 428 338

+852 2112 1888

US

+1 866 226 1406

UK

0800 032 2849

Passcode

3307029#

The live and archived webcast of the conference call will be available on the Investor Relations section of NetDragon’s website at http://ir.nd.com.cn/en/category/webcast. Participants in the live webcast should visit the aforementioned website 10 minutes prior to the call, then click on the icon for “2025 Interim Results Presentation and Webcast” and follow the registration instructions.

About NetDragon Websoft Holdings Limited

NetDragon Websoft Holdings Limited (HKSE: 777) is a global leader in building internet communities, with a long track record of developing and scaling multiple internet and mobile platforms that impact hundreds of millions of users. Over the desktop and mobile internet eras, NetDragon previously established China’s first online gaming portal, 17173.com, and China’s most influential smartphone app store platform, 91 Wireless.

Established in 1999, NetDragon is one of the most reputable and well-known online game developers in China with a history of successful game titles including Eudemons Online, Conquer OnlineHeroes Evolved and Under Oath. In the past 10 years, NetDragon has also achieved success with its EdTech business both domestically and globally. Fully embracing the new AI era, NetDragon is driving its vision of “Infinite Growth” through a dual-focus strategy of “AI+Gaming” and “AI+Education”. With its AI Content Factory empowering operations and working with partners to develop a global learning metaverse, NetDragon is committed to once again building a massive user community in the new AI era.

NetDragon’s overseas edtech business entity, currently a U.S.-listed subsidiary named Mynd.ai, is a global leader in interactive technology and its award-winning interactive displays and software can be found in more than 1 million learning and training spaces across 126 countries.

For investor enquiries, please contact:

NetDragon Websoft Holdings Limited

Ms. Maggie Zhou
Senior Director of Investor Relations
Email: maggiezhou@nd.com.hk / ir@netdragon.com
Website: ir.netdragon.com 

Rokid Glasses Make Debut at IFA 2025, Inviting Attendees to See Beyond Reality

BERLIN, Aug. 28, 2025 /PRNewswire/ — Rokid, a global pioneer in Augmented Reality (AR) and human-computer interaction, will showcase its latest innovations at IFA 2025, inviting attendees to See Beyond Reality at their Booth in Hall 6.2 Stand 169. Visitors will get a chance to experience the future via Rokid’s full suite of category leading entertainment and productivity AR and AI wearable including the brand new Rokid Glasses – making its first public consumer appearance at the show.

Rokid IFA 2025 Poster
Rokid IFA 2025 Poster

The Rokid Glasses advance what wearable technology can do by blending AI, AR, and a smart 12MP first-person camera into a sleek, ultra-lightweight 49g frame. Boosting productivity, the Rokid Glasses act as a true AI-driven smart assistant, transforming everyday experiences into seamless, hands-free interactions. From real-time multi-language translation that breaks down communication barriers, to instant object recognition and AI-powered problem solving, Rokid Glasses make complex tasks intuitive and accessible. The Rokid Glasses feature integrated premium audio ensures users can enjoy music, take calls, or stay on top of notifications without ever pulling out a phone, while the first-person camera captures life’s moments from your POV. Together, these features deliver a powerful fusion of lifestyle integration and advanced technology, making Rokid Glasses not just a gadget, but a smarter way to engage with the world. The lightweight frame supports customizable lenses for myopia or astigmatism, and the rechargeable case extends use with up to ten full charges, ensuring uninterrupted performance on the go.

With this launch, Rokid reaffirms its position as a global leader in AR innovation, delivering a product that truly empowers users to see, interact with, and experience the future in ways that go beyond the limits of the physical world—making advanced technology both accessible and meaningful for everyone.

IFA attendees can visit Rokid at Booth H6.2-169 from September 5–9, 2025, to experience the future of AR and AI wearables first-hand. Media are invited to book private demos and interviews in advance, please email jingwen.wang@rokid.com.

About Rokid

With over a decade of innovation in augmented realities, self-designed Android-based ecosystem YodaOS-Master, computer vision, optical display, and AI system design, Rokid has deployed AR and AI products in more than 80 countries, empowering users and industries to work, play, and connect in new ways.

Media Contact
Company: Rokid
Contact Person: Jingwen Wang
Email: jingwen.wang@rokid.com
Website: https://global.rokid.com/

JA Solar Debuts DesertBlue to Power the Global Desert Solar Surge

–  Certified for unrivaled reliability, DesertBlue sets a new benchmark for powering large-scale solar PV projects in harsh climates.

BEIJING, Aug. 28, 2025 /PRNewswire/ — JA Solar recently launched DesertBlue, a leading PV module engineered specifically for desert and semi-arid regions. Designed to withstand dust, heat, and high winds, DesertBlue delivers up to 650W of power with 24% efficiency, establishing a new global standard for reliable solar PV performance in extreme conditions.

JA Solar Debuts DesertBlue to Power the Global Desert Solar Surge
JA Solar Debuts DesertBlue to Power the Global Desert Solar Surge

Leading design institutes, EPC firms, and certification bodies attended the launch event, demonstrating the demand for specialized solutions for large-scale PV development in challenging environments.

“DesertBlue represents a strategic milestone in global solar development,” said Yang Aiqing, Executive President of JA Solar. “By directly addressing the unique challenges of desert deployment, we enable customers worldwide to unlock the full potential of renewable energy in regions considered too hostile for large-scale solar PV projects.”

Surge in Desert Solar Creates Unique Needs

Developers in China, the Middle East, and Africa are accelerating investment in desert-based solar bases, creating growing demand for rugged PV solutions. With deserts covering nearly one-quarter of Earth’s land surface, this trend could extend for decades.

Desert environments pose unique stressors for PV modules, including fine dust that reduces light transmission, abrasive sand that erodes coatings, strong winds that strain structural integrity, and extreme heat that degrades performance over time.

DesertBlue is engineered to meet these challenges head-on. Its nano-scale self-cleaning coating features dense microstructures and antistatic properties that reduce dust adhesion, allowing natural wind to assist in surface cleaning.

Delivering Value Across the Lifecycle

DesertBlue is engineered to create value from construction to operation. Key features include:

  • Anti-dust nanocoating: 32% less transmittance loss; extends module life by up to 5 years.
  • Sandstorm resilience: Up to 14% less power loss in abrasive conditions.
  • Reinforced frame: Withstands 6000 Pa front/4000 Pa rear loads.
  • Thermal stability: Operates up to 5°C cooler; produces 0.6% more power at 85°C.

In large-scale projects, DesertBlue reduces upfront costs, slashes cleaning Opex by up to $0.98M over 25 years and has already demonstrated 4.5% higher energy yield in field projects.

Certified Reliable

DesertBlue has also earned global recognition for its reliability in harsh environments. TÜV Rheinland awarded it the world’s first “Desert Module” certification after rigorous testing, including UV exposure, thermal cycling, and sand abrasion. TÜV SÜD further validated its LC2-level sand resistance, confirming durability under 11,000 robotic cleaning cycles with a sand load of 110kg/m²—resulting in less than 1% power degradation.

As the global energy transition accelerates, JA Solar’s DesertBlue is poised to power the next wave of desert PV expansion.