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Bybit and Solana Summit’s Livestreams Cites Community Power and SVM Use Cases as Ultimate Growth Catalysts in 2025

Exclusive Livestreams Unpacked Infinite Liquidity and DeFi’s Next Wave

DUBAI, UAE, Feb. 26, 2025 /PRNewswire/ — Bybit Web3 , the Web3 division of Bybit, proudly served as the exclusive livestream partner for Solana Summit 2025. This collaboration marked a significant milestone for Bybit, which had previously been Solana’s first-ever ecosystem livestream partner. Years later, Bybit reaffirmed its commitment to advancing Web3 by amplifying one of the most highly anticipated blockchain events of the year.

Bybit Web3 exclusively broadcasted two key panel discussions, featuring Stephy Shi, Head of Operations at Bybit Web3, as a panelist. The event brought together leading voices in blockchain and Web3. The Memecoins & Infinite Liquidity panel revealed that financial incentives alone are no longer enough to build sustainable communities – successful projects now focus on giving their communities a voice in governance and decision-making. Meanwhile, the SVM Round Table tackled Solana’s scalability challenges, with industry experts agreeing that as Solana adoption grows, SVM-powered dApps will be critical in solving congestion and enabling seamless trading experiences.

Memecoins: Beyond Financial Rewards – The Power of Community

The Memecoins & Infinite Liquidity panel explored how memecoins have evolved from simple speculative assets to community-driven movements with strong cultural significance. While financial incentives like airdrops and staking still play a role, industry leaders agreed that long-term success depends on giving communities a real voice and influence.

Christina, Core Contributor at MEW, emphasized that projects must make their early supporters feel like part of the journey. “The key point for us to build community is to make our early supporters be part of this. We really make them make decisions, like from merch making to the offline meetings, events, and the corporation brand.”

Similarly, Nom, CEO of Bonk, highlighted that the strongest memecoins today are those that foster deep community connections. “The strongest memecoins today aren’t the ones with the biggest airdrops — they’re the ones where people feel like they truly belong.”

Bybit Web3’s Stephy Shi reinforced this point, explaining that true engagement goes beyond just giveaways. “We keep thinking about how to engage the community because a lot of projects probably just do an airdrop. But how can we actually truly involve the community? So for us, what we do is we actually try to empower the community.”

The panel made it clear: memecoins thrive not because of financial incentives alone, but because of the emotional and cultural bonds they create. Projects that involve their communities in branding, governance, and decision-making are far more likely to succeed.

Solana’s Growth: How SVM-Powered dApps Can Solve Congestion

The SVM Round Table tackled one of Solana’s biggest challenges – scalability. With its fast and low-cost transactions, Solana has become a hub for DeFi, memecoins, and high-frequency trading. However, during peak activity, congestion can slow down transactions and disrupt user experience.

Panelists debated whether Solana needs Layer 2 (L2) scaling solutions or if improvements to its existing infrastructure would be enough.

Jason, Co-Founder of Solayer, pointed out that congestion became a real problem during the recent memecoin trading surge: “During the meme coin trade season, users could see not only Solana’s high trading volume but also encountered issues. For example, some transactions were not getting confirmed.”

Chris, CEO of SONIC, explained that as Solana’s ecosystem expands, the need for SVM-powered applications will grow. “When we build a rollup for the chain extension ecosystem, we think about verticalizing the operations to focus on distribution and the ecosystem that’s always needed for all of the applications on top of Solana. And as application numbers grow, you actually have more needs for very verticalized operations and distribution.”

For traders, these issues have direct consequences. Bybit Web3’s Stephy Shi shared how congestion impacts users in real-time. “Everyone traded on-chain, traded Solana on the weekend, right? Crazy weekend. I think probably a lot of people also have problems during the weekend to successfully execute a trade because of congestion. That’s a typical case study because users would only notice that they will need a faster, better execution layer only once they could not actually execute a trade.”

The discussion highlighted that as Solana scales, SVM-powered dApps will play a critical role in reducing congestion, improving transaction speeds, and ensuring a seamless trading experience for users.

Bybit Web3: Powering the Next Wave of Web3 Innovation

With DeFi, AI, and blockchain gaming shaping the digital economy, 2025 marks a pivotal year for Web3 adoption. Solana Summit 2025 provided an in-depth look at the evolving landscape, and Bybit Web3’s role as the exclusive livestream partner showcased its commitment to expanding decentralized finance and empowering global blockchain communities.

As the Solana ecosystem continues to grow, Bybit Web3 remains at the forefront – bridging users, developers, and liquidity into the future of Web3 and decentralized trading.

#Bybit / #TheCryptoArk / #BybitWeb3

About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting. 

Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 60 million users globally.

Join the revolution now and open the door to your Web3 future with Bybit.
For more details about Bybit Web3, please visit Bybit Web3.

About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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SquaredFinancial leads the way with outstanding growth, market expansion, and top industry talent in 2024

VICTORIA, Seychelles, Feb. 26, 2025 /PRNewswire/ — SquaredFinancial, a global leader in fintech and trading solutions, is proud to announce another year of record-breaking performance, marked by significant profit growth, rapid client growth, and top-tier leadership hires.

SquaredFinancial leads the way with outstanding growth, market expansion, and top industry talent in 2024
SquaredFinancial leads the way with outstanding growth, market expansion, and top industry talent in 2024

Although 2024 was a challenging year for global markets, SquaredFinancial capitalized on opportunities to support traders and investors worldwide. The company recorded a 66.46% increase in PnL and a 45.65% surge in new accounts, underscoring its position as a reliable financial partner.

As part of its commitment to excellence and innovation, SquaredFinancial continued to welcome top industry executives and financial experts. These strategic hires bring unmatched know-how, rooting the company’s position in the fintech fabric.

“Attracting the best talent in the industry stands at the core of our strategy”, said Philippe Ghanem, Founder and CEO of SquaredFinancial. “By bringing in high-calibre professionals, we continue to elevate our capabilities, ensuring our clients receive the most innovative and steadfast financial solutions.”

SquaredFinancial owes its success to its dedication to cutting-edge technology and delivering to its clients a seamless trading experience. Over the past year, the company has introduced enhanced trading conditions with more competitive pricing and increased leverage, giving traders greater flexibility to seize market opportunities. Additionally, it upgraded its proprietary mobile app, “SquaredFinancial”, with a focus on user experience, cross-channel integration, and major system enhancements. It also expanded its product offerings with advanced solutions, catering to both retail and institutional investors.

Looking ahead to 2025, SquaredFinancial envisions strategic plans to tailor new financial products that cater for traders’ evolving needs. It aims to expand its presences globally, conquering new markets, and further develop AI-driven trading tools to enhance clients’ efficiency.

About SquaredFinancial

SquaredFinancial is a well-capitalized FinTech firm founded in 2005. It aims to become a one-stop shop that meets investors’ financial needs. With around two decades of experience in financial technology and trading, it offers global solutions to traders of different generations and backgrounds, who are looking for an intuitive and sophisticated investment gateway. It is led by market experts and leadership veterans who share a passion for trading and a vision to reshape the industry landscape. As a regulated firm, it provides investors with an online platform backed by cutting-edge technology that offers the opportunity to trade a wide range of instruments from different asset classes. SquaredFinancial has recently launched its proprietary mobile trading app and its innovative fixed-time deposit account.

Taboola Expands Beyond Native Ads with Realize

New Technology Platform Allows Taboola to Serve The Entire Performance Advertising Market, Delivering Outcomes at Scale Beyond Search and Social; Customers Include Babbel, eToro and More

HONG KONG, Feb. 26, 2025 /PRNewswire/ — Taboola, a global leader in delivering performance at scale for advertisers, today announced a new focus beyond native advertising and a powerful new technology platform called Realize.

Taboola has pioneered native advertising for more than a decade, driving success for advertisers, primarily in bottom of article placements. Today, Taboola extends far beyond this legacy with the introduction of Realize, an industry-first platform that specializes only in performance outcomes at scale beyond search and social.

Realize taps into Taboola’s unique data, performance AI, and an increasingly diverse range of inventory and creative formats to achieve performance objectives. While advertisers need great solutions for all parts of the marketing funnel, they need specialized solutions. Existing solutions that promise full funnel service face significant challenges to excel in each part of the marketing funnel. As of today, Taboola is opening Realize for all advertisers focused on performance.

Taboola estimates that advertisers spend $25B a year attempting to achieve performance outcomes on DSPs and niche AdTech solutions, yet in many cases these channels lack the performance expertise, scale or data to get the results advertisers need. DSPs tend to focus on video and CTV, which is great for branding goals but not performance, while AdTech companies tend to lack enough scale for success. Taboola estimates there is nearly $30B of spend suffering from diminishing returns on social media. In addition, 75% of performance advertisers spending on social media say they are dealing with diminishing returns and are looking for solutions, due to audience saturation, rising costs and ad fatigue. In total, Taboola estimates that a majority of the $55B being spent on performance advertising is not providing the ROI it could be.

Realize is the only independent performance platform that goes beyond search and social media and delivers outcomes at scale for advertisers, leveraging Taboola’s unique supply, first party data and AI technology. It delivers simplicity and efficiency for advertisers to run performance-based campaigns on many of the world’s largest and most trusted publishers across all ad inventory, OEMs and apps.

Key components of Realize include:

  • New Supply:  Going Beyond “Bottom of Article” Native
    For the first time ever, Realize allows advertisers to tap into display and even more parts of Taboola’s large network of publishers, apps and OEMs which include NBC News, Yahoo, Xiaomi and Samsung. Taboola advertisers can now go beyond native ad placements to connect with relevant customers in high visibility locations on many of the world’s most trusted publishers and apps to drive performance.
  • AI & Data Advantage: Driving Measurable Results at Scale
    Realize is powered by an AI performance engine that finds the best opportunities for campaigns across Taboola’s network of trusted publishers and apps. This AI performance engine is powered by the unique data advantage of Taboola’s code-on-page integrations with publishers, giving it more signal than any other open web platform to use when optimizing and placing ads.
  • Creative Freedom: Getting Started Faster with Social, Display, Vertical Videos 
    Realize provides an intuitive experience for performance advertisers, allowing them to now reach their customer acquisition goals with the same creative assets they use on display or social media campaigns. It transforms existing assets into high-performing ads across premium placements on leading publishers and apps, instantly.

“Every business deserves a chance to grow and succeed,” said Adam Singolda, CEO at Taboola. “Performance advertising beyond search and social media has been far too difficult for too long, however. Advertisers have settled on search and social media simply because there has been no viable alternative. Spending money with DSPs and CTV is great for branding but not optimized to drive performance, and running display with hundreds of advertising tech companies at low scale is simply not worth marketers’ time. Amazon started in 1994 and did a great job winning the book business by 2000, which allowed them to go into owning all of e-commerce. This is our “Amazon moment.” After many years of success with native ads, it’s time to go after all of performance advertising. We can do a lot more for advertisers, and a lot more for publishers. Today is an exciting day for me and us at Taboola.”

Supporting quotes

“Taboola’s new technology platform, Realize, expands the potential for success with our performance marketing. Realize provides more options to connect with customers in engaging and prominent ways through a vast network of trusted publishers globally. We expect Realize will greatly benefit our advertising reach and ROI, and we’re excited to use it,” said Julie Hansen, CRO & US CEO at Babbel.

“Taboola has been a longstanding partner for eToro, providing the technology and team that has helped us excel in reaching customers. Taboola’s new Realize technology platform helps us go even further, driving success for our performance-focused campaigns and helping us to achieve our customer acquisition goals. We look forward to continuing to grow using Taboola and Realize,” said Nir Szmulewicz, CMO, eToro.

“We praise Taboola’s end-to-end approach to ensuring performance advertising success,” says Jeff Ratner, President Media, Data, Analytics at Quigley-Simpson. “We have worked with Taboola for many years and they have shown the technology and expertise needed for driving true ROI for our campaigns. Realize shows promise for going even further, bringing the best of all worlds–AI that works to find us the best outcomes, audiences that are uniquely engaged, and placements that are highly visible that live on trusted publishers.”

“For a media agency that has always been on the cutting edge of performance marketing, as we are at EVERSANA media, I could not be more excited to leverage Taboola’s new performance platform, Realize, which brings to life end-to-end performance campaigns. With Realize, you have the marriage of both audience engagement and scale, along with outcome-driven AI. I think this type of strategic pivot into performance is going to yield major dividends for Taboola and its clients,” says Justin Chase, EVP, Media at Eversana.

About Taboola 

Taboola empowers businesses to grow through performance advertising technology that goes beyond search and social and delivers measurable outcomes at scale.

Taboola works with thousands of businesses who advertise directly on Realize, Taboola’s powerful ad platform, reaching 600M daily active users across some of the best publishers in the world.

Publishers like NBC News, Yahoo, and OEMs such as Samsung, Xiaomi and others use Taboola’s technology to grow audience and revenue, enabling Realize to offer unique data, specialized algorithms, and unmatched scale.

iQIYI’s Love of the Divine Tree Shatters Records with 300 Million Views and Mass Fan Appreciation

Love of the Divine Tree Continues Its Meteoric Rise, Captivating Global Audiences

SINGAPORE, Feb. 26, 2025 /PRNewswire/ — The fantasy romance drama Love of the Divine Tree, starring Deng Wei and Julia Xiang, is currently streaming and continues to soar in popularity. According to Maoyan All-Platform Popularity Chart, the series has surpassed 300 million views across all platforms, maintaining its position at the top of Maoyan’s daily popularity charts for two consecutive days. As the story reaches its emotional peak, audiences are deeply engaged with the drama’s compelling character arcs, romantic developments, and breathtaking visual effects, making it a must-watch sensation.


Deng Wei’s Heart-Wrenching Role Moves Audiences to Tears

Deng Wei takes on his first leading role as Su Yishui, a character embodying the ultimate “beautiful yet tragic” archetype. Deng Wei’s nuanced performance, capturing Su Yishui’s pain, resilience, and hidden tenderness, has won over viewers, with many exclaiming, Deng Wei has truly mastered the ‘beautiful yet tragic’ genre!”

During iQIYI’s recent in-office event (Feb 17), Deng Wei shared insights into his character’s emotions, revealing that Su Yishui’s phrase “breaking attachments” is actually a veiled confession of love. “Every time he says it, he is really saying ‘I love you.’ If there were no love, why would there be a need to sever attachments?” This revelation further deepened fans’ emotional connection to his character.

“My Wayward Disciple, Su Yishui” – A 19-Year Reunion That Shook the Internet

In the latest episodes, Julia Xiang’s character, Xue Ranran, begins to regain fragments of her lost memories. When she finally calls Su Yishui by his former title—“My wayward disciple, Su Yishui”—the moment instantly ignited online discussions. After waiting 19 long years to reunite with his master, Su Yishui’s expression of shock, grievance, and joy resonated deeply with viewers, who flooded social media with comments like, “He waited far too long for this!”

Breathtaking Visual Effects – The Awakening of the Azure Dragon

Beyond its compelling storyline, Love of the Divine Tree continues to impress with its cinematic-level special effects. In a recent pivotal scene, Su Yishui discovers an azure dragon hidden beneath the water, secretly nurtured by Su Yu through sinister means. Hatched from a lost dragon egg and forcefully enhanced with dark energy, the dragon exudes overwhelming rage and demonic power, shrouding the entire water realm in darkness.

The stunning CGI and immersive battle sequences have left audiences in awe, with many praising the production quality as on par with blockbuster films.

A Global Sensation – Captivating Fans Across Borders

Love of the Divine Tree is not only dominating in China but is also gaining widespread popularity overseas. In Thailand, the drama’s hype has extended to Union Mall, where Valentine’s Day screenings of key scenes drew large crowds of fans taking photos and celebrating the show.

Additionally, other hit iQIYI series such as White Olive Tree and Love You are set to host exciting offline events soon—stay tuned for more surprises!

Download Assets Here | Watch Here

Sino Land is Well-Positioned to Capitalise on Opportunities Stable Interim Dividend at HK15 Cents per Share


Summary of 2024/2025 Interim Results

  • The Group’s unaudited underlying profit attributable to shareholders, excluding the effect of fair-value changes on investment properties for the six months ended 31 December 2024 (“Interim Period”) was HK$2,241 million (2023: HK$2,945 million).
  • Steady interim dividend at HK15 cents per share.
  • Attributable revenue from property sales for the Interim Period, including share from associates and joint ventures, was HK$2,448 million (2023: HK$6,635 million). Five new residential projects scheduled for launch in 2025.
  • The Group has a visible pipeline for property sales recognition. Approximately HK$11.3 billion of total attributable contracted sales are yet to be recognised, with approximately HK$9.1 billion expected for recognition in the second half of FY2024/2025.
  • Attributable gross rental revenue, including share from associates and joint ventures, was HK$1,748 million (2023: HK$1,777 million).
  • The Group’s hotel revenue, including attributable share from associates and joint ventures, was HK$794 million compared with HK$811 million in the same period last year. Gross operating profit was HK$261 million, an increase of 2.8% compared with HK$254 million in the same period last year.
  • As at 31st December, 2024, the Group had a land bank of approximately 19.4 million square feet of attributable floor area in Mainland China, Hong Kong, Singapore and Sydney, sufficient to meet the Group’s development needs over the next few years. The Group will continue to be selective in replenishing its land bank to optimise its earnings potential.

Financial Highlights

For the six months ended 31 December: 2024 2023 Change

Revenue HK$3,854 million HK$4,923 million -21.7%
Underlying profit HK$2,241 million HK$2,945 million -23.9%
Profit attributable to shareholders HK$1,820 million HK$2,616 million -30.4%
Dividend per share
Interim HK15 cents HK15 cents

Results and Business Highlights

HONG KONG SAR – Media OutReach Newswire – 26 February 2025 – Sino Land Company Limited (Stock Code: 83) today announced its interim results for the six months ended 31 December 2024 (the “Interim Period”). The Group’s unaudited underlying profit attributable to shareholders, excluding the effect of fair-value changes on investment properties for the Interim Period was HK$2,241 million (2023: HK$2,945 million). Underlying earnings per share was HK$0.26 (2023: HK$0.35).

After taking into account the revaluation loss (net of deferred taxation) on investment properties of HK$407 million (2023: revaluation loss of HK$142 million), which is a non-cash item, the Group reported a net profit attributable to shareholders of HK$1,820 million for the Interim Period (2023: HK$2,616 million). Earnings per share was HK$0.21 (2023: HK$0.31).

Interim dividend of HK$15 cents per share

The Board of Directors has declared an interim dividend of HK15 cents per share. (2023: HK15 cents per share). The steady interim dividend underscores the Group’s solid financial position. As at 31 December 2024, the Group had net cash of HK$45,880 million.

Property Sales – Five new projects scheduled for launch in 2025

Total revenue from property sales for the Interim Period, including property sales of associates and joint ventures, attributable to the Group was HK$2,448 million (2023: HK$6,635 million).

Photo (7)

The Group has five new residential projects scheduled for launch in 2025. These include ONE CENTRAL PLACE in Central, Yau Tong Ventilation Building Property Development, Grand Mayfair III in Yuen Long, and LOHAS Park Package Thirteen Property Development in Tseung Kwan O which have obtained pre-sale consents. In addition, the Group expects to obtain pre-sale consent for Wing Kwong Street/Sung On Street Development Project in To Kwa Wan in calendar year 2025. The timing for launching these projects for sale will depend on when the pre-sale consent is received and the prevailing market conditions. Subsequent to the Interim Period, certain units of La Montagne in Wong Chuk Hang were launched for sale in January 2025.

As at 31 December 2024, the Group had a land bank of approximately 19.4 million square feet of attributable floor area in Mainland China, Hong Kong, Singapore and Sydney, which is sufficient to meet the Group’s development needs over the next few years.

Diversified and balanced investment properties portfolio showed long-term resilience

For the Interim Period, the Group’s attributable gross rental revenue, including share from associates and joint ventures, was HK$1,748 million (2023: HK$1,777 million), representing a decrease of 1.6% year-on-year. This decline was primarily due to emerging challenges in the retail sector. Given the dynamic nature of the current operating environment, the Group is continuously refining and optimising our tenant mix, while also organising ongoing marketing and promotional activities in our shopping malls to boost foot traffic.

Among the different sectors, residential showed the biggest improvement, with occupancy rate rising by 1.1 percentage points to 89.0 % (2023: 87.9%). The industrial sector also saw an increase of 0.2 percentage points to 89.7% (2023: 89.5%). Hong Kong remains well-positioned to capitalise on its status as an international hub and financial centre. The ongoing integration into national development initiatives such as the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and the Northern Metropolis proposed by the HKSAR Government, will further bolster Hong Kong’s role as a key hub connecting the country with the world. Additionally, the various talent schemes launched by the HKSAR Government, along with the recent pickup in financial market activities, are expected to bolster the Group’s rental income over time.

As at 31 December 2024, the Group has approximately 13.2 million square feet of attributable floor area of investment properties and hotels in Mainland China, Hong Kong, Singapore and Sydney.

Hotel Operations – Continuous improvement in profitability

In 2024, Hong Kong saw a steady improvement in tourism. Visitors from Mainland China made up 76% of total visitor arrivals, posting a year-on-year increase of 27% to 34.0 million. Long-haul markets also experienced more than a 50% growth. The Group’s overseas operations in Singapore and Sydney continued to deliver encouraging results, with continuous improvement in gross operating profit during the Interim Period. For the Interim Period, the Group’s hotel operating profit increased by 2.8% to HK$261 million, driven by sustained occupancy rates and stringent cost containment measures.

Looking ahead, the opening of the Kai Tak Sports Park in the first quarter of 2025, the development of panda tourism, and the resumption of multiple-entry permits for Shenzhen residents are expected to support the growth of the tourism industry and inject new momentum into Hong Kong’s hospitality industry. Management continued to prioritise cost control while actively seeking new strategies to enhance the quality of our hotel services and improve efficiency.

With robust financials and sustainable strategies, the Group is well-positioned to capitalise on opportunities

The Group is making steady strides on its sustainability journey. In the Interim Period, Sino Land was included in the Dow Jones Sustainability World Index (DJSI World) while maintaining its position in the DJSI Asia Pacific Index for the third consecutive year. In addition, Sino Land has recently been selected as a constituent of the FTSE4Good Index Series and achieved an AA+ rating in the Hang Seng Corporate Sustainability Index Series for the second consecutive year. These recognitions reaffirm Sino Land’s commitment to promoting ESG and sustainability.

Our robust financials and sustainable business strategies underpin the Group’s commitment to creating long-term value for our shareholders:

  • Approximately HK$11.3 billion of total attributable contracted sales are yet to be recognised, with approximately HK$9.1 billion expected for recognition in the second half of FY2024/2025.
  • Five new residential projects scheduled for launch in 2025.
  • Diversified and growing investment property portfolio providing stable recurrent income.
  • Committed to sustainability and promoting positivity in the community.
  • Strong financial position to support future growth

Looking ahead to 2025, the Group will remain vigilant and adaptable amidst the rapidly evolving macroeconomic environment. Our leadership emphasises the importance of solid fundamentals, deep customer insights, sustainability and the commitment to excellence. We shall continue to enhance productivity and efficiency, along with careful financial management. With robust financials and sustainable business strategies, the Group is well equipped to navigate challenges and seize opportunities that arise,” said Mr. Robert Ng Chee Siong, Chairman of Sino Land.

Please download photos from here.
Hashtag: #SinoLand

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

Kenanga Group Posts All-Time-High RM1 Billion Revenue and RM155.5 million Operating Profit in FY2024

KEY HIGHLIGHTS
FY2024 VS FY2023

  • Revenue at RM1.0 billion, up by 22.3%

  • Operating Profit at RM155.5 million, up by 88.7%

  • Profit Before Tax (“PBT“) at RM117.2 million, up 33.1%

  • Net Profit at RM95.8 million, up by 31.6%

  • Net Income at RM799.6 million, up by 22.6%

  • Operating Expense at RM644.0 million, up by 13.0%

  • Return on Equity at 8.75%, up by 25.8%

  • Earnings Per Share at 13.18 sen, up by 31.3%

  • Net Equity Trading Investment Income at RM55.8 million, up by 30.8%

  • Overall Market Share at 9.6%, Retail Segment Market Share at 25.3%

  • Asset Under Administration (“AUA“) at RM23.5 billion, up by 8.5%

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 26 February 2025 – Kenanga Investment Bank Berhad (“Kenanga Group” or “The Group“), Malaysia’s leading independent investment bank, today delivered one of its strongest financial results to date for the financial year ended 31 December 2024 (“FY2024“). The Group posted an all-time high revenue of RM1.0 billion, up 22.3% year-on-year, while operating profit surged 88.7% to RM155.5 million, also its highest yet. PBT rose 33.1% to RM117.2 million, while net profit climbed 31.6% to RM95.8 million.

Datuk Chay Wai Leong, Group Managing Director, Kenanga Investment Bank Berhad
Datuk Chay Wai Leong, Group Managing Director, Kenanga Investment Bank Berhad
Kenanga Group’s strong results were driven by a significant revaluation gain on strategic investments through its Private Equity arm, alongside higher trading and investment income, net brokerage income, and management and performance fees. Increased contributions from associates further bolstered its bottom line, partially offset by credit loss expenses.

Reflecting this performance, the Board of Directors has declared an interim single-tier dividend of 8.00 sen per ordinary share for FY2024.
“2024 was another landmark year for Kenanga Group, delivering one of our strongest financial performances to date, despite market headwinds. This milestone underscores the resilience of our diversified business model and our disciplined approach in capitalising on growth opportunities across all our key business segments,” said Datuk Chay Wai Leong, Group Managing Director, Kenanga Investment Bank Berhad.
Kenanga Group’s Stockbroking division recorded RM363.6 million in revenue, a 17.9% increase from the previous year. PBT eased to RM15.4 million from RM16.1 million in FY2023, reflecting the impact of credit loss expense incurred during the year as opposed to a writeback in the previous year. Amid heightened market volatility and an evolving competitive landscape, the division successfully maintained its retail market share of 25.3%. The structured warrants business remained a key contributor, reinforcing the Group’s position as Malaysia’s leading issuer, with the highest market share in warrants trading volume.

Its Asset and Wealth Management division posted revenue of RM303.9 million, an increase of 14.9% year-on-year. The revenue was primarily driven from its institutional and retail segments. Despite higher overhead cost, which led to a PBT of RM47.0 million relative to RM58.7 million in 2023, the division’s AUA saw strong growth, closing at RM23.5 billion, an increase of RM1.8 billion year-on-year.

The Group’s Investment Banking division registered a jump in both revenue and PBT for FY2024, with a 10.0% increase in revenue to RM246.4 million, and an 8.4% increase in PBT to RM6.2 million. This was driven by higher investment income from treasury and fee income, buoyed by a vibrant bond market and capital market.

Kenanga Group’s Listed Derivatives business continued its growth streak, delivering yet another year of record performance. Revenue climbed 15.3% to RM27.6 million, while PBT surged 24.1% to RM7.8 million, its highest in over a decade. This sustained upward trajectory was fueled by higher trading commissions and interest income, supported by a surge in trading activity across the listed derivatives market.
“As we enter 2025, our focus remains on growing our core businesses while accelerating digital transformation. By strengthening recurring income streams, optimising cost efficiencies, and expanding product offerings, we are positioning Kenanga Group for sustainable, long-term growth,” added Datuk Chay.
“With a legacy that spans over five decades, we continue to leverage our vast experience from navigating market cycles, and create synergies across our ecosystem to drive innovation, expand market reach, and create greater value for our stakeholders,” concluded Datuk Chay.

Beyond financial performance, Kenanga Group remains committed to responsible and sustainable growth. In 2024, this commitment was reaffirmed with the Group’s continued inclusion on the FTSE4Good Bursa Malaysia Index, ranking among the Top 8% of Malaysian public-listed companies.

Hashtag: #Kenanga

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

About Kenanga Investment Bank Berhad (197301002193 (15678-H))

Established for over 50 years, Kenanga Investment Bank Berhad (“The Group“) is a leading financial group in Malaysia, offering a wide range of services, including equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending, and trade financing. The Group’s digital innovations include the launch of KDi GO, a wealth-centric app, along with game-changing products such as Rakuten Trade, Malaysia’s first fully digital stockbroking platform, and Kenanga Digital Investing, an A.I. robo-advisor.
Kenanga has garnered multiple awards, including top honours at the Bursa Excellence Awards 2023 and The Edge Malaysia Centurion Club 2023. The Group also secured the Top 20 Overall Excellence and the Niche Cap Excellence Award at the National Corporate Governance and Sustainability Awards 2024. As one of the highest- scoring constituents of the FTSE4Good Bursa Malaysia Index and a Participant of the United Nations Global Compact, Kenanga continues to drive collaboration, innovation, and sustainability in the financial industry.

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Emeren Group to Participate at the 37th Annual ROTH Conference

NORWALK, Conn., Feb. 26, 2025 /PRNewswire/ — Emeren Group Ltd (“Emeren” or the “Company”) (www.emeren.com) (NYSE: SOL), a leading global solar project developer, owner, and operator, today announced that management will participate in one-on-one or small group meetings with institutional investors at the 37th Annual Roth conference to be held March 16th – 18th in Dana Point, CA.

For more information or to request a meeting, please contact a Roth sales representative. To submit a registration request, visit https://ibn.fm/Roth2025Registration.

About Emeren Group Ltd

Emeren Group Ltd (NYSE: SOL), a renewable energy leader, showcases a comprehensive portfolio of solar projects and Independent Power Producer (IPP) assets, complemented by a significant global Battery Energy Storage System (BESS) capacity. Specializing in the entire solar project lifecycle — from development through construction to financing — we excel by leveraging local talent in each market, ensuring our sustainable energy solutions are at the forefront of efficiency and impact. Our commitment to enhancing solar power and energy storage underlines our dedication to innovation, excellence, and environmental responsibility. For more information, go to www.emeren.com.

 

Fosun Pharma Received NMPA Approval for Wan Ti Le (Tenapanor Hydrochloride Tablets)

Bringing New Hope to Chinese Dialysis Patients with Hyperphosphatemia

SHANGHAI, Feb. 26, 2025 /PRNewswire/ — Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (Fosun Pharma; stock code: 600196.SH, 02196.HK) announced that its holding subsidiary, Shanghai Fosun Pharmaceutical Industrial Development Co., Ltd. (“Fosun Pharma Industrial”), has received approval from the National Medical Products Administration (“NMPA”) for the New Drug Application (“NDA”) for Tenapanor Hydrochloride Tablets (Chinese trade name: Wan Ti Le, the “New Drug”), an innovative phosphate absorption inhibitor with a novel mechanism, with the indication being for the control of serum phosphorus levels in dialysis patients with chronic kidney disease (CKD) who have an inadequate response or are intolerant to phosphorus binders.

As the world’s first and currently only approved phosphate absorption inhibitor, Tenapanor Hydrochloride Tablets has been officially approved in China, ushering in a new era of multi-mechanism synergistic phosphate control and offering new hope for patients with hyperphosphatemia on hemodialysis in China.

“The approval of tenapanor for the treatment of adult dialysis patients with chronic kidney disease in China market brings new hope for dialysis patients with hyperphosphatemia in China,” said Xingli Wang, Executive President, CEO of Global R&D Center of Fosun Pharma, “Fosun Pharma is committed to addressing unmet clinical needs by focusing on innovative R&D in core therapeutic areas such as oncology, immunology, and chronic diseases. We look forward to our continued collaboration with Ardelyx as we advance the development and commercialization of more innovative therapies, bringing greater benefits to patients.

“The approval of tenapanor for hyperphosphatemia in China marks another important milestone in Ardelyx’s commitment to bringing our novel therapies to patients with unmet medical needs globally,” said Mike Raab, president and chief executive officer of Ardelyx. “I thank our partners at Fosun Pharma for their continued efforts to support this approval. Fosun Pharma is a leading healthcare company in China with a strong focus and track record of successfully marketing cardiorenal medicines in China and shares our commitment to improving the lives of patients. We look forward to further collaboration as Fosun Pharma brings this treatment to patients.”

Tenapanor Hydrochloride Tablets is a First-in-class oral intestinal sodium/hydrogen exchanger 3 (NHE3) inhibitor licensed by Fosun Pharma Industrial from Ardelyx, Inc. In October 2023, Tenapanor was approved by the U.S. Food and Drug Administration to reduce serum phosphorus in adults with CKD on dialysis as add-on therapy in patients who have an inadequate response to phosphate binders or who are intolerant of any dose of phosphate binder therapy. Tenapanor is also approved for the treatment of Irritable Bowel syndrome with Constipation in the U.S. and Hong Kong SAR.

For many years, the rate of achieving target serum phosphate levels in hemodialysis patients in China has been lower than the international standards[1]. Despite existing pharmacotherapy, a significant proportion of patients fail to meet the target phosphate levels. Data indicate that by the end of 2023, there were more than one million patients on maintenance hemodialysis in China, with an annual growth rate of approximately 10%. Among these patients, 76% have hyperphosphatemia, and the rate of achieving target phosphate levels is only 39%[2] (according to China’s hemodialysis quality control standards: serum phosphate 1.13–1.78 mmol/L). If the target range for serum phosphate is set at 0.87–1.45 mmol/L, as stipulated by the Chinese guidelines for the diagnosis and treatment of Chronic Kidney Disease Mineral and Bone Disorder (CKD-MBD), the achievement rate decreases to 26.7%[3]. Given the current situation where the blood phosphorus levels of dialysis patients are poorly controlled, the National Health Commission of China listed “improving phosphate control rates in hemodialysis patients” as a key quality control improvement target for 2024.

Tenapanor is a local inhibitor that targets the NA(+)/H(+) exchanger-3 (NHE3), a reverse transporter expressed on the apical surface of the epithelium in the small intestine and colon. By inhibiting NHE3, the drug tightens intercellular junctions, thereby reducing the permeability of the paracellular pathway to phosphate, which is the primary route for intestinal phosphate absorption. This action leads to a decrease in phosphate absorption and, consequently, a reduction in serum phosphorus levels[4].

Owing to its novel mechanism of action, tenapanor can be used in combination with phosphate binders to further significantly reduce serum phosphate levels and improve the rate of achieving target levels. In a randomized, double-blind, placebo-controlled study[5], 164 hemodialysis patients with hyperphosphatemia were enrolled. After 8 weeks of treatment with tenapanor in combination with phosphate binders, serum phosphate levels decreased by an additional 0.57 mmol/L compared to phosphate binders alone. In another multicenter, randomized, open-label study[6], 303 hemodialysis patients who were not achieving target phosphate levels with phosphate binders were switched to a tenapanor-based regimen (tenapanor 30 mg BID, with phosphate binders added or adjusted if necessary). After 10 weeks of treatment, the rate of achieving target phosphate levels increased by 34.4% to 38.2%.

A tenapanor can lower levels of parathyroid hormone (PTH)[7] and fibroblast growth factor 23 (FGF23)[8], thereby aiding in the comprehensive achievement of key therapeutic targets in the management of chronic kidney disease–mineral and bone disorder (CKD-MBD).

[1] Adv Ther.2020 Jun;37(6):2748-2762.

[2] Data from the Chinese National Renal Data System (CNRDS 2023)

[3] Ya Zhan, et al. Sci Rep. 2022 Oct 6;12(1):16694.

[4] Yee J, et al. Am J Nephrol. 2021;52(7):522-530.

[5] Kosaku Nitta, et al. Kidney Int Rep. 2023 Aug 13;8(11):2243-2253.

[6] Sprague SM, et al. Kidney360. 2024 May 1;5(5):732-742.

[7] Block GA, et al. Kidney360. 2021 Aug 27;2(10):1600-1610.

[8] Pablo E Pergola, et al. J Am Soc Nephrol. 2021 Jun 1;32(6):1465-1473.