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Guo Guangchang: Fosun Achieves Stable Operations, Aiming for RMB10 Billion in Future Industrial Operation Profit

HONG KONG and SHANGHAI, April 1, 2025 /PRNewswire/ — On 1 April 2025, Fosun International Limited (HKEX stock code: 00656, “Fosun International”), together with its subsidiaries (“Fosun” or the “Group”) held its 2024 annual results presentation in Shanghai. Addressing investors’ concerns about profitability, Guo Guangchang, Chairman of Fosun International, responded that the financial adjustment in 2024 is not due to Fosun’s poor operations or decline in market competitiveness, but rather a one-off carrying value adjustment. Nonetheless, Fosun’s operations remain stable and its core businesses are under healthy development.

He stated that, excluding the carrying value adjustment of the Cainiao investment, Fosun’s industrial operation profits and operating cash flows stay healthy and stable. Management must nevertheless remain committed and work diligently to maintain the Company’s steady development in the future.

Guo Guangchang said that, in 2024, Fosun had been advancing the business streamlining strategy and pursuing “strategic advancements and exits, and balanced investment and divestment”. During the year, Fosun promoted the privatization of Fosun Tourism Group and Henlius. While it is unfortunate that minority shareholders voted against the privatization of Henlius, he expressed gratitude to them, as their decision reflects their confidence in Henlius.

“Henlius is one of Fosun’s most promising companies with the greatest potential, and we are optimistic about its potential to achieve product sales of USD10 billion in the future. It represents the future ‘Mount Everest’ of Fosun, symbolizing its most strategic advantages, and we will provide full support for its development. Fosun has always placed a strong emphasis on innovation, as well as on companies and products with significant growth potential. In our approach to ‘strategic advancements and exits’, we aim to divest from heavy assets and non-core operations, while pursuing advancements in innovative industries that offer immense potential and vast opportunities,” said Guo Guangchang.

Regarding changes in the global landscape, Guo Guangchang noted that geopolitics affects all companies, and there is no escaping it. The key lies in how a company responds. The best approach is to develop globalization capabilities. For more than ten years, Fosun has consistently focused on building globalization capabilities, and today Fosun is increasingly reaping the rewards. In 2024, Fosun International’s overseas revenue accounted for 49.3% of its total revenue. On the one hand, Fosun’s globalization strategy promotes Chinese companies and advantageous industries to go global. On the other hand, it helps Fosun’s overseas companies expand globally. For example, Fosun Insurance Portugal currently has 29.8% of its income from markets outside Portugal, with international business profits contributing over 50%. 

In discussing Fosun’s future goals, Guo Guangchang said that Fosun will continue to divest from some heavy assets to reduce financial leverage and maintain “strategic advancements and exits, and balanced investment and divestment”, while deepening its industry operations. In 2024, Fosun’s industrial operation profit amounted to approximately RMB4.9 billion, and the Company aims to double it to reach RMB10 billion in the future.  Achieving this goal will require sustained efforts to drive growth in operating profits, and it is a target that we can strive for and anticipate.

“Fosun will face temporary challenges while making strategic adjustments. This process is not easy. It requires strategic determination and time to do it step by step. Fosun has always persisted in doing the right things, difficult things and things that take time to develop, and we remain dedicated to this commitment,” said Guo Guangchang.

On 30 March, Fosun International announced its 2024 annual results. In 2024, the Group’s total revenue reached RMB192.14 billion; industrial operation profit reached RMB4.9 billion; loss attributable to owners of the parent amounted to approximately RMB4.35 billion, mainly due to an adjustment in the carrying value of the Cainiao investment. Gong Ping, CFO of Fosun International, stated that Fosun achieved an internal rate of return of approximately 34% on the Cainiao investment. Excluding the effect of the carrying value adjustment, the profit attributable to owners of the parent in 2024 amounted to RMB750 million.

Fosun’s management expressed confidence in Fosun’s net profit for 2025 and is committed to steadily enhancing profitability in the future. In the next few years, the Group aims to gradually increase the proportion of overseas revenue in its global operations; progressively reduce the Group’s interest-bearing debts from the current level of more than RMB80 billion to RMB60 billion; and strive to achieve RMB10 billion in industrial operation profit as well as in profit attributable to owners of the parent. Meanwhile, it will continuously improve its operational capabilities, endeavoring to attain “investment grade” ratings.

Mega Matrix Inc. Filed 2024 Annual Report on Form 20-F

SINGAPORE, April 1, 2025 /PRNewswire/ — Mega Matrix Inc. (“MPU” or the “Company”) (NYSE American: MPU), a short-video streaming platform and producer of short dramas, announces that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2024, with the U.S. Securities and Exchange Commission (the “SEC”). The annual report on Form 20-F, which contains the Company’s audited annual financial statements for 2024, can be accessed on the SEC’s website at http://www.sec.gov, as well as via the Company’s website at https://www.megamatrix.io/sec.  The Company will deliver a hard copy of its 2024 annual report on Form 20-F, including its complete audited financial statements, free of charge to its shareholders, upon request to the Company Chief Financial Officer, at carol.wang@megamatrix.io

About Mega Matrix Inc.: Mega Matrix Inc. (NYSE American: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through Yuder Pte, Ltd., an indirect wholly owned subsidiary of the Company. Mega Matrix Inc. is a Cayman Islands corporation headquartered in Singapore. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io.

Disclosure Channels

We announce material information about the Company and its services and for complying with our disclosure obligation under Regulation FD via the following social media channels:

X (f/k/a Twitter):

twitter.com/MegaMatrixMPU

Facebook:

facebook.com/megamatrixmpu

facebook.com/flextvus

LinkedIn:

linkedin.com/company/megamatrixmpu

TikTok:

tiktok.com/@flextv_english

YouTube:

youtube.com/@FlexTV_English

The Company will also use its landing page on its corporate website (www.megamatrix.io) to host social media disclosures and/or links to/from such disclosures. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our website, press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our website.

For inquiries, please contact: Info@megamatrix.io

Dizal Announces DZD8586 and DZD6008 Presentations at 2025 ASCO Annual Meeting

SHANGHAI, April 1, 2025 /PRNewswire/ — Dizal (SSE:688192), a biopharmaceutical company committed to developing novel medicines for the treatment of cancer and immunological diseases, announced today that results of its investigational drug candidates DZD8586 and DZD6008, have been selected for presentation at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting, taking place May 30June 3, 2025, in Chicago.

Oral and poster presentations of its DZD8586 study results in chronic lymphocytic leukemia (CLL) and diffuse large B-cell lymphoma (DLBCL) are selected by ASCO Scientific Program Committee. In addition, Dizal will present its 4th generation EGFR TKI clinical data in non-small cell lung cancer (NSCLC) during the conference.

About DZD8586

DZD8586 is a first-in-class, non-covalent, LYN/BTK dual inhibitor with full blood-brain barrier (BBB) penetration, designed as a potential treatment option for B-cell non-Hodgkin lymphoma (B-NHL).

While Bruton’s Tyrosine Kinase (BTK) inhibitors have been approved for the treatment of B-NHL, resistance can arise through two major mechanisms: the BTK C481X mutation and BTK-independent BCR signaling pathway activation. Currently, there is no targeted therapy available to address both resistance mechanisms, posing an urgent clinical challenge. Although BTK degraders have shown encouraging efficacy in early clinical studies, mutation-related resistance has been reported, and degrader-related toxicities may affect long-term clinical application.

DZD8586 has high selectivity against other TEC family kinases (TEC, ITK, TXK and BMX). By targeting BTK and LYN, it blocks both BTK-dependent and -independent BCR-signaling pathways, effectively inhibiting tumor growth of B-NHLs in cell lines and in animal models. Phase I clinical trial suggests that DZD8586 exhibits favorable PK properties, good central nervous system (CNS) permeability, complete blockade of BCR signaling, and encouraging anti-tumor efficacy with good safety and tolerability in patients with B-NHL.

About DZD6008

DZD6008, is a novel, highly selective, full-BBB penetrant EGFR TKI, designed as a potential treatment option for advanced EGFR mutation positive (EGFRm) NSCLC.

Non-small cell lung cancer is the leading cause of cancer death in the world. Epidermal growth factor receptor (EGFR) gene is one of the most common driver genes for NSCLC. Multiple agents can be used to treat patients with EGFR mutated NSCLC who develop resistance to EGFR tyrosine kinase inhibitors (TKIs), but the clinical outcome was not satisfactory. Brain metastases (BM) are a leading cause of death and disease progression for NSCLC. Approximately 23%-30% of NSCLC patients are synchronous BM at their initial diagnosis. Previous studies reported that the 3-year cumulative rate of BMs ranges from 29.4% to 60.3% in patients with mutated EGFR.

Currently, the clinical benefits of existing treatments for third-generation EGFR TKI-resistant NSCLC are limited and DZD6008 is expected to fill the unmet medical needs. DZD6008 effectively inhibits EGFR-mutated tumor growth in cell lines and in animal models. Previous clinical studies have validated the design concept of the molecule and suggest that DZD6008 demonstrates good safety and efficacy in NSCLC patients with brain metastases who had failed third-generation EGFR TKI therapy or multiple lines of pre-treatments.

About Dizal

Dizal is a biopharmaceutical company, dedicated to the discovery, development and commercialization of differentiated therapeutics for the treatment of cancer and immunological diseases. The company aims to develop first-in-class and groundbreaking new medicines, and further address unmet medical needs worldwide. Deep-rooted in translational science and molecular design, it has established an internationally competitive portfolio with two leading assets in global pivotal studies, both of which have already been launched in China. 

To learn more about Dizal, please visit www.dizalpharma.com, or follow us on Linkedin or X.

Forward-Looking Statements

This news release may contain certain forward-looking statements that are, by their nature, subject to significant risks and uncertainties. The words “anticipate”, “believe”, “estimate”, “expect”, and “intend” and similar expressions, as they relate to Dizal, are intended to identify certain forward-looking statements. Dizal does not intend to update these forward-looking statements regularly.

These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections, and understandings of the management of Dizal with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are subject to risks, uncertainties, and other factors, some of which are beyond Dizal’s control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, Dizal’s competitive environment, and political, economic, legal, and social conditions.

Dizal, the Directors, and the employees of Dizal assume (a) no obligation to correct or update the forward-looking statements contained on this site; and (b) no liability in the event that any of the forward-looking statements does not materialize or turnout to be incorrect.

Contacts
Investor Relations: ir@dizalpharma.com
Business Development: bd@dizalpharma.com
Media Contact: pr@dizalpharma.com

JURASSIC WORLD: THE EXPERIENCE COMES TO CLOUD FOREST AT SINGAPORE’S GARDENS BY THE BAY ON 29 MAY 2025

SINGAPORE, April 1, 2025 /PRNewswire/ — Dinosaurs are set to roam the breathtaking, misty landscapes of Cloud Forest at Gardens by the Bay soon this year. Today, NEON and Universal Live Entertainment announced that Jurassic World: The Experience will open at the cooled conservatory of the iconic Singapore attraction in on 29 May 2025.

Jurassic World The Experience
Jurassic World The Experience

Life-sized animatronic and sculpted dinosaurs nestled amidst the lush foliage of Cloud Forest bring the cinematic wonder of the Jurassic World film franchise from Universal Pictures and Amblin Entertainment to life. There will be various exciting zones for visitors to explore with highlights such as:

  • The breathtaking majesty of an 8.5m tall Brachiosaurus – almost three stories high – that will greet visitors when they enter Cloud Forest
  • A thrilling encounter with the terrifying Tyrannosaurus rex
  • A face-to-face interaction with baby dinosaurs in the Petting Zoo area
  • Discover tiny and elusive Composognathus, “Compys” hidden within lush garden pathways

The Cloud Forest at Gardens by the Bay replicates the cool-moist climate found in Tropical Montane regions in the world, between 1,000m and 3,500m above sea level. More than 72,000 plants thrive in Cloud Forest, with more than 50 species with lineages that can be traced back to the Jurassic period, such as ferns, cycads and conifers. These plants once thrived alongside dinosaurs and even served as food for them. Visitors will learn more about how these plants continue to thrive today and understand the intricate connections between past and present ecosystems.

An experience exclusive to Cloud Forest is Evolution Walk, where visitors can venture back to a time before the age of dinosaurs, to learn about ancient plant species that existed long before the emergence of those that bear flowers. Evolution Walk features reconstructions of ancient plants that have become extinct, in an eye-opening showcase of how plants have evolved.

Fans of the blockbuster films of the Jurassic World franchise will be especially thrilled when they spot iconic moments from the series brought to life through cutting-edge animatronics and interactive exhibits. This is the closest that they will ever come to living dinosaurs!

“We are thrilled to bring Jurassic World: The Experience to the Cloud Forest, one of the most iconic venues here in Singapore,” said Mr. Ron Tan, Executive Chairman & Group CEO of NEON. “In collaboration with Universal Live Entertainment, Gardens by the Bay, and our valued partners, this world-class experience exemplifies NEON’s commitment to delivering immersive and innovative experiential entertainment that captivate audiences of all ages. The seamless integration of cinematic storytelling with the natural beauty of Cloud Forest creates a truly unique and memorable journey for all visitors. We look forward to welcoming fans and friends from Singapore and beyond to step into the world of Jurassic and engage with this extraordinary experience in a truly iconic setting.”

Mr. Felix Loh, CEO of Gardens by the Bay said, “Following the highly successful Avatar: The Experience in 2023, Cloud Forest will once again play host to another immersive blockbuster show as part of Gardens by the Bay’s SG60 offerings. Besides life-sized dinosaurs roaming the mist-shrouded landscape, which will captivate visitors of all ages, what sets Gardens by the Bay’s edition apart is a world-first educational showcase. Here, visitors will learn how prehistoric ecosystems once shaped our planet within the setting of a Cloud Forest, and the fascinating way plants have evolved through millions of years from the Jurassic period.”

For the latest updates, please visit JurassicWorldExperience.sg.

Follow Jurassic World: The Experience
#JWExperience and #DinosInSingapore

OFFICIAL ILLUSTRATIVE IMAGES FOR JURASSIC WORLD: THE EXPERIENCE AT GARDENS BY THE BAY (Photo credit: NEON)

Brachiosaurus Falls: Amidst a vibrant landscape of dense forests and thundering waterfalls, a brachiosaurus duo erupt in melodious calls, harmonizing with one another.
Brachiosaurus Falls: Amidst a vibrant landscape of dense forests and thundering waterfalls, a brachiosaurus duo erupt in melodious calls, harmonizing with one another.

 

Aviary Attack: A cunning pair of velociraptors appear poised for attack in a primal showdown against a hovering Pteranodon.
Aviary Attack: A cunning pair of velociraptors appear poised for attack in a primal showdown against a hovering Pteranodon.

About NEON

NEON is a global leader in creating and producing experiential entertainment. NEON enjoys worldwide partnerships with The Walt Disney Company and Marvel Entertainment for Marvel Avengers S.T.A.T.I.O.N., 20th Century Studios for AVATAR: The Experience, Hasbro for Transformers: The Experience, NBCUniversal for Jurassic World: The Exhibition, and Jurassic World: The Experience. NEON also has a partnership with Warner Bros. Discovery Themed Entertainment for Harry Potter: Visions of Magic, currently open in Resorts World Sentosa, Singapore. Additionally, a brand new, DC experience is slated to debut in 2025. The Company also partners with the governments of Egypt and Peru for their original artefact IP experiences, Ramses & the Gold of the Pharaohs and Machu Picchu and the Golden Empires of Peru, respectively, plus authentic artefact tours Pompeii: The Exhibition, and Mummies of the World: The Exhibition.

The Group’s IP experiences are powered by ANIMAX, a fully owned subsidiary and a world-class creative animatronics powerhouse that specialises in research and development, engineering and entertainment robotics, with state-of-the-art facilities located in Nashville, US, Wuxi, China and the Middle East.

NEON’s global partnerships have enabled the Group to bring compelling experiences that leave lasting memories to millions of visitors in more than 80 cities to date globally. For more information, please visit www.neonglobal.com.

About Universal Destinations & Experiences

Universal Destinations & Experiences, a unit of Comcast NBCUniversal, offers guests around the globe the world’s most innovative, thrilling, and popular entertainment experiences. Our portfolio is comprised of world-class theme parks featuring the industry’s most thrilling and technologically advanced attractions, exceptional hotel and resort properties, and unique merchandise, games, culinary, virtual, and live entertainment experiences. All are designed to create immersive, memorable, and emotionally fulfilling moments for people of all ages looking to take their accommodations  and  entertainment  to  new  heights.  For  more  information, visit corporate.universaldestinationsandexperiences.com.

About the JURASSIC WORLD Franchise

From Universal Pictures and Amblin Entertainment, Jurassic World immerses audiences of all ages in a new era of wonder and thrills where dinosaurs and humankind must learn to coexist. Jurassic World is more than a film franchise. At every turn, this $6 billion film series delivers a larger-than-life destination for exploration, discovery, and epic adventure. Dinosaurs live again and they live in Jurassic World.

About Gardens by the Bay

An integral part of Singapore’s “City in Nature” vision, Gardens by the Bay is a national garden and premier horticultural attraction that showcases the best of garden and floral artistry for all to enjoy. Spanning 101 hectares in the heart of Singapore’s downtown Marina Bay, it comprises three waterfront gardens – Bay South, Bay East, and Bay Central. Bay South, the largest at 54 hectares, officially opened on 29 June 2012.

Guided by the vision to be a world of gardens for all to own, enjoy and cherish, the Gardens’ extensive plant collection, ever-changing floral displays, and myriad of engaging programmes have captured the imagination of many, while its Gift of Gardens community initiative, with Mr. Tharman Shanmugaratnam, President of the Republic of Singapore as Patron, reaches out to people from all walks of life.

Since opening, Gardens by the Bay has welcomed more than 100 million visitors and garnered numerous international accolades including the eighth top attraction in the world in Tripadvisor Travelers’ Choice Awards Best of the Best 2024, Outstanding Achievement in Sustainability at the Singapore Tourism Awards 2024, Best Theme Attraction at TTG Travel Awards 2022 and 2023, and Best Attraction Experience at the Singapore Tourism Awards 2019. The Gardens continues to refresh and refine its offerings, to be a place that everyone can enjoy – a garden where wonder blooms.

For more information, visit www.gardensbythebay.com.sg

 

KuCoin Receives the UNWWO “2025 Corporate Social Responsibility Award”

VICTORIA, Seychelles, April 1, 2025 /PRNewswire/ — On March 21, 2025, the World Women Organization (UNWWO) successfully held the official parallel session of the 69th United Nations Commission on the Status of Women (CSW69) and the Global Women Leadership Summit at the United Nations Headquarters in New York, alongside the celebration of the 30th anniversary of the Beijing Declaration.

The summit brought together over a hundred global female elites from the United Nations, public welfare, business, political, and academic sectors. The representatives engaged in in-depth discussions on core topics such as female leadership, global influence, and sustainable development. During the event, leading figures and organizations that have made outstanding contributions to promoting female empowerment were grandly recognized. Among them, the globally leading digital economy platform KuCoin received the “2025 Corporate Social Responsibility Award” from the UNWWO. Representing KuCoin, CSR Director and Global Human Resources Director Sylvie Dong attended the forum and shared the company’s valuable experiences and steadfast determination in the field of corporate social responsibility.

KuCoin’s Three CSR Innovation Projects Focus on Women and Children

CSR has always been a clear and highly valued core thread throughout KuCoin’s development. In 2024, the company further increased its investment in CSR initiatives.

At the forum, Sylvie Dong provided a detailed introduction to a series of CSR projects that KuCoin had carried out throughout 2024. In collaboration with international organizations such as the United Nations, the American Medical Women’s Association (AMWA), the Smile Simon Green Building Foundation, the Global CSR Foundation, and the Office of the First Lady of the Bahamas, KuCoin launched three projects: “Light Up Africa” Children’s Solar Lamps, “Menstrual Equality” and “Climate Change Buckets”. These projects covered multiple regions, including the Bahamas, Suriname, and Nigeria, benefiting nearly 50,000 women and children.

“Light Up Africa” Children’s Solar Lamps: This project aims to provide solar lamps to school-age children in rural Africa, enabling them to continue studying at night and illuminating their futures. In February 2024, the first batch of 2,500 solar lamps donated by KuCoin was sent to 25 schools in Nigeria. In October, another 7,200 solar lamps were delivered to communities in Sierra Leone, Nigeria, and Ghana, benefiting more students. Sandra Edidion, a student at Nigeria’s Afaha Okonkwo Nwafor College, said, “With these solar lamps, I believe I can do it, and we can all read at night.”

“Menstrual Equality”: This project aims to help young girls and women from disadvantaged groups around the world by providing sustainable menstrual health solutions, enabling them to continue their studies and daily lives with dignity and confidence, and move towards a better future. In March 2024, 1,000 reusable menstrual kits sponsored by KuCoin were sent to three locations: Suriname, St. Jude’s Children’s Research Hospital, and domestic violence shelters in New York and California. At the end of December, the second batch of aid supplies was shipped to the Bahamas, providing much-needed sanitary products for 4,000 local women.

“Climate Change Buckets”: This project is committed to providing basic health protection for pregnant women, infants, and children worldwide, shielding them from the threats of pollution, deadly diseases, and extreme weather caused by climate change. Ann Marie Davis, the First Lady of Commonwealth of Bahamas H. E. Ann Marie Davis, expressed her gratitude for the project, saying, “These buckets will provide assistance to women and girls in communities facing climate change challenges.”

“Through these CSR projects, we have found that providing sanitary pads can significantly increase the return-to-school rate of girls in Suriname, and providing solar lamps can extend the average study time of children in Nigeria by several hours. These small changes are bringing great hope to children and women,” said Sylvie Dong.

KuCoin’s CSR Philosophy and Future Outlook

In her speech, Sylvie Dong emphasized that KuCoin’s CSR practices stem from the founders’ original intentions. The founders of KuCoin firmly believe that the significance of technology lies not in creating financial miracles but in ensuring that the most vulnerable groups can still maintain dignity in the digital age. KuCoin hopes that every employee’s work is meaningful, not only driving one of the world’s most influential industries but also making each employee proud when talking to their family and friends.

The CSR experience and achievements shared by KuCoin at the forum have attracted widespread attention and high praise from global outstanding female representatives present. Jing Zhao Cesarone, the official representative of the World Women’s Organization and the Chair of the Global CSR Foundation, stated at the meeting that she hopes this parallel session will empower global outstanding female leaders, focus and enhance global cooperation, and jointly achieve the goals of the Beijing Declaration. She believes that KuCoin has set an example for global enterprises, demonstrating the great potential and sense of responsibility of digital economy platforms in promoting social sustainable development.

Looking ahead to 2025, KuCoin will continue to increase its investment in CSR, deepen global sustainable development practices, and promote the improvement of global children’s welfare. Nancy Cheung, KuCoin’s Chief Sustainability Officer (CSO), said, “In the past year, KuCoin has achieved significant results in the CSR field and accumulated rich experience. In 2025, we will continue to work together with global partners and communities to build a more sustainable world through innovation and responsibility.” KuCoin will continue to advance the three key projects of “Light Up Africa” Children’s Solar Lamps, “Menstrual Equality,” and “Climate Change Buckets,” and actively seek new public welfare project opportunities.

In 2025, KuCoin is embarking on a new chapter of global compliance and sustainable growth, while further fulfilling its commitment to the United Nations Sustainable Development Goals (SDGs). KuCoin’s receipt of the “2025 Corporate Social Responsibility Award” from the World Women Organization is not only a recognition of its past CSR efforts, but also a testament to the global expectations for its future path in sustainable development. KuCoin will continue to uphold its core values of “security, user-first, and innovation,” striving to create greater positive impact on the global community and to contribute more to the well-being of women and children around the world.

About KuCoin

Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and an exceptional user experience. With a connected user base exceeding 40 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots.

KuCoin has garnered accolades such as “Best Crypto Apps & Exchanges” by Forbes and has been recognized among the “Top 50 Global Unicorns” by Hurun in 2024. This recognition reflects its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence. Learn more: https://www.kucoin.com/.

XTrend Speed Launches $500,000 Trading Championship to Reward Top Traders

HONG KONG, April 1, 2025 /PRNewswire/ — XTrend Speed, a leading global online trading platform, is thrilled to announce the launch of its highly anticipated XTrend Speed Trading Championship, a premier trading competition designed to challenge and reward the most skilled traders worldwide. The competition, which boasts an impressive $500,000 prize pool, is officially commence on April 1, 2025, and run through June 30, 2025 (UTC), offering participants the opportunity to showcase their trading expertise and claim substantial rewards.

The XTrend Speed Trading Championship is structured into two key segments, ensuring traders of all levels have multiple opportunities to compete and win:

  • Monthly Competitions: Running from April to June, traders will automatically be entered into monthly leaderboards based on their return rates. The top-ranking traders each month will be awarded cash prizes and trading bonuses, with the first-place winner receiving $2,000 per month. This segment allows for consistent engagement and multiple chances to win throughout the competition.
  • Grand Final: The most prestigious segment of the championship, this high-stakes event requires an entry fee and offers even more lucrative rewards. The top-performing trader in this challenge will claim an astonishing grand prize of $100,000. Designed for those willing to take on greater risks for higher rewards, this challenge promises intense competition among the best traders.

To further enhance engagement and create a dynamic trading experience, additional ranking criteria will be incorporated. Participants can boost their standings by increasing their trading volume, engaging with XTrend Speed on social media, and referring new users to the platform. Additionally, traders can gain a competitive edge by purchasing special entry packages, which include valuable benefits such as reset cards and loss reimbursement vouchers.

The XTrend Speed Trading Championship is not just a competition—it’s a platform for traders to test their strategies, refine their skills, and maximize their potential earnings. Whether a seasoned professional or an aspiring trader, this competition provides an unparalleled opportunity to engage in high-level trading battles while competing for life-changing rewards.

About XTrend Speed

XTrend Speed is a globally recognized online trading platform offering access to diverse financial markets. Committed to providing a superior trading experience, XTrend Speed continuously innovates to offer competitive trading opportunities. The platform has earned multiple industry accolades, including the prestigious Best Copy Trading Platform Global 2025 award.

State Inspection Authority Officials Detained as Corruption Investigation Unfolds

The corruption (Photo: Campaign Asia)

Four senior officials from the State Inspection Authority (SIA) and three individuals accused of corruption and bribery are set to face punishment, according to The Inspection Magazine, an SIA publication, on 31 March. 

Sinopec Discovers Record Amounts of Shale Oil in Its East China Shengli Oilfield

Shengli Oilfield leads exploration breakthroughs with theoretical innovation, stimulates cost reduction and efficiency improvements with technological progress, and boosts both quantity and quality enhancements with equipment upgrades, driving shale oil exploration and development in China to new heights.

ZIBO, China, April 1, 2025 /PRNewswire/ — China Petroleum & Chemical Corporation‘s (HKG: 0386, “Sinopec” or “the Company”) announced the discovery of over 140 million tonnes of proven geological reserves of shale oil with technically recoverable reserves of 11.3599 million tonnes at its Shengli Oilfield’s Jiyang shale oil national demonstration zone in East China’s Shandong province on March 24, 2025. This is the first shale oil field with proven geological reserves of over 100 million tonnes that has been certificated by China’s Ministry of Natural Resources.

SINOPEC Discovers Record Amounts of Shale Oil in Its East China Shengli Oilfield.
SINOPEC Discovers Record Amounts of Shale Oil in Its East China Shengli Oilfield.

Shengli Oilfield has developed advanced automated drilling equipment that extracts efficiently, and explored horizontal well optimization and fast drilling technology, and dense cutting combined seam network volume fracturing technology. The average drilling cycle has been reduced from 133 days to 29.5 days, and the drilling cycle of 6,000-meter wells has reached 17.7 days, and the single well production capacity has continued to set new records.

“Through 150,000 times of indoor experiments, we developed the theory of shale oil enrichment in continental fault lake basins, reshaping the traditional common understanding that shale oil can only be enriched and mobilized when its maturity is higher than 0.9%,” shared Liu Huimin, Vice President and Chief Geologist of Sinopec Shengli Oilfield Branch. “With the support of this theory, the amount of shale oil resources in Jiyang has tripled after re-evaluation.”

Shengli Oilfield has tackled challenges of high temperature, pressure, and leakage in shale oil development. By advancing reserve-fracture-pressure theories, developing full-cycle 3D technologies, and building an integrated geological engineering platform, it expanded shale oil development from three to seven layers, addressing extraction efficiency and maximizing resource recovery.

Sun Yongzhuang, Assistant to President of Sinopec Group and Managing Director of Shengli Petroleum Administration Bureau Co., said estimated shale oil resources in Shengli Oilfield have reached 10.5 billion tonnes, equivalent to the conventional oil and gas resources recovered during the past  60 years in China. “After more than 10 years of continuous research and innovative breakthroughs, Shengli Oilfield is expected to add 80 million tonnes of proven reserves this year through the integrated promotion of exploration and development,” Mr. Sun said.

Sinopec is ramping up its shale oil exploration and development efforts, achieving key breakthroughs in multiple areas. In January 2021, the Company tested a high-yield shale oil and gas well at the Fuling shale gas field in Chongqing, with shale oil production surpassing 30,000 tonnes for the first time in 2024. By December 2021, Sinopec identified a favorable area of 420 square kilometers in the Qintong Depression of the Northern Jiangsu Basin, with shale oil resources totaling 350 million tonnes. In July 2022, a Northern Jiangsu Basin well yielded more than 30 tonnes of oil and 1,500 cubic meters of natural gas daily, activating 1.1 billion tonnes of shale oil resources. Sinopec’s 2024 shale oil production reached 705,000 tonnes, up 308,000 tons year-over-year.

Jia Chengzao, an Academician with the Chinese Academy of Sciences and an expert in petroleum and structural geology, said shale oil is a key resource for boosting and stabilizing domestic crude oil production, commenting, “Proven reserves are the core indicator supporting current production. In January, the Ministry of Natural Resources issued specifications for estimating oil reserves in shale formations, marking a new stage of normalization and standardization in China’s shale oil resource management.”

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