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CoinW Completes Major Platform Upgrade, Entering a New Era in the Future of Trading

HONG KONG, Aug. 15, 2025 /PRNewswire/ — As digital assets and decentralized technologies evolve at a rapid pace, user expectations for trading platforms have grown from simple transactions to a comprehensive, all-scenario, all-asset, and all-mode experience. Integrated ecosystems are fast becoming the industry’s defining trend.

CoinW, one of the world’s leading cryptocurrency asset trading platforms, today announced the completion of a full-scale upgrade to its platform architecture and business framework. This milestone unites CoinW’s diversified investments and ecosystem initiatives worldwide, spanning centralized and decentralized trading, foundational public chain infrastructure, and institutional-grade services, into a fully interconnected global digital asset ecosystem.

Shaping the Future of Trading
Shaping the Future of Trading

The result is a high-performance, secure, and flexible environment for both asset management and trading.

From Fragmented to Unified: A New Chapter in the Future of Trading

For over a decade, digital asset exchanges have been the primary gateway to the blockchain world. Each major leap forward has come from innovation in trading models and improvements in user experience. Early platforms relied on centralized matching, offering high efficiency and liquidity but limited decentralization, with assets in full custody by the platform. As market needs grew, exchanges expanded to spot, derivatives, earn, Launchpad, and other services, creating the foundation of a multi-faceted product ecosystem.

The rise of DeFi brought unique advantages in asset self-custody and on-chain transparency, attracting a surge of users and capital. To balance liquidity, efficiency, and autonomy, many platforms began integrating CEX and DEX capabilities, allowing users to switch freely between them.

However, the growing diversity of on-chain assets, increasing demand for cross-chain trading, and large-scale institutional participation have revealed the limits of this hybrid model. Data silos, restricted asset flows, and inefficient strategy execution now hinder the user experience. The market needs a new platform architecture that delivers truly seamless, borderless trading.

CoinW’s full-stack integration upgrade answers this demand. Built on a unified account system and strategy engine, the platform deeply combines trading, settlement, custody, and assetization. It introduces AI-driven strategy execution and cross-scenario asset access, enabling smooth collaboration across asset classes, trading modes, and market environments. Both individuals and institutions can now deploy strategies, trade assets, and grow portfolios in one connected system.

This upgrade is not only a technological and operational leap—it marks a milestone as CoinW enters a new era in the Future of Trading.

Three Core Features of the Upgraded CoinW Platform

  • Strategy-Driven Execution: The system automatically routes between AMM and CLOB based on user behavior and market conditions, while assisting in optimizing order execution strategies.
  • Multi-Scenario Asset Access: Supports on-chain settlement, MPC self-custody, and trading of diverse asset classes including RWA (such as government bonds, equities, gold, and REITs).
  • Modular Functionality: Users can activate centralized, decentralized, or institutional trading modules as needed, with a unified account system ensuring seamless data and capital flows.

Four Pillars Powering a Complete Ecosystem

Following its full-stack integration upgrade, CoinW’s investment and strategic ecosystem is now anchored by four core pillars. Each pillar offers a complete suite of functions and services, designed to address the diverse needs of different user segments in trading and asset management.

Backed by a unified infrastructure, data and assets can move seamlessly across multiple scenarios, chains, and asset classes—ensuring a consistent user experience and efficient resource allocation. This “clear division of roles, unified architecture, and unified account system” approach delivers greater flexibility and scalability across the entire ecosystem.

  • CoinW Integrated Trading Platform: Operating in over 200 countries and regions, supporting a wide range of mainstream and long-tail trading pairs. The platform leverages AI strategy tools and multi-layer risk controls to deliver intelligent order routing and optimized matching, providing users with an efficient and secure trading experience in a centralized environment.
  • GemW On-Chain Asset Aggregation Platform: Aggregates high-potential and long-tail on-chain assets. Users can trade instantly without configuring a wallet or holding gas tokens — simply by entering a contract address. Powered by the LENS model, the platform combines on-chain data, social sentiment, and project analysis to help users identify promising assets.
  • DeriW Public Blockchain Infrastructure: Built on a Rollup architecture with processing capacity of up to 80,000 TPS, enabling zero-gas perpetual futures trading and transparent on-chain matching. It also offers high-yield LP liquidity pools to deliver an efficient, transparent, and low-cost on-chain trading experience.
  • PropW Proprietary Trading Platform: Designed for professional traders and institutional investors, offering quantitative trading tools, API access, flexible risk management solutions, and cross-market strategy support. The platform meets the demands of high-frequency and large-volume trading, providing an institutional-grade experience within a unified account system.

CoinW Core Ecosystem
CoinW Core Ecosystem

“Digital asset services are evolving from single-point trading to full-stack ecosystems, with increasing demand for cross-scenario liquidity and consistent user experiences,” said Nassar Al Achkar, Chief Strategy Officer of CoinW. “Through a unified account system, we eliminate the boundaries that restrict asset management. This reflects not only our commitment to enhancing the user experience but also our strategic vision for global ecosystem synergy. CoinW is dedicated to building the financial gateway of the future, delivering a seamless and sustainable digital asset service.”

Looking ahead, CoinW will continue to expand the range of supported on-chain assets, advance its AI strategy engine, and improve multi-chain and cross-scenario integration. As digital assets become an integral part of global financial infrastructure, CoinW will leverage its unified account system and full-stack architecture to provide a smooth, efficient, and secure service experience.

More than just an upgrade, it marks the official dawn of the “Future of Trading.”

About CoinW

Founded in 2017, CoinW has grown into one of the world’s leading cryptocurrency asset trading platforms, serving a vast and diverse global user base. The platform offers intelligent trading services, with a daily trading volume exceeding $5 billion and a consistent top 4 ranking in CoinMarketCap’s futures markets. With over 15 million registered users, CoinW is deeply committed to advancing wealth creation and blockchain innovation, continually enhancing its product ecosystem with innovations. Since 2022, CoinW has significantly expanded its global brand presence through international sports sponsorships, including a high-profile partnership with football legend Andrea Pirlo. In addition to its commercial growth, CoinW is actively engaged in corporate social responsibility — from donating supplies to orphanages in Africa to supporting animal welfare in Taiwan. Looking ahead, CoinW aims to promote financial inclusion on a global scale, continue leading the cryptocurrency sector, and accelerate the adoption of blockchain technology and digital assets worldwide. To learn more about CoinW, you can visit the website, and follow CoinW’s X Account, and Telegram Group.

Absen A25 Series Brings 3D Panda to KL’s Golden Triangle


KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 15 August 2025 – Absen has transformed the McDonald’s intersection in Kuala Lumpur’s Golden Triangle into a global digital landmark with its A25 series outdoor giant screen and a groundbreaking naked-eye 3D panda animation. The first project in Absen’s Global 20 Super Landmark Cases Plan, it marks a milestone in company’s 20-year global journey, merging cutting-edge display tech with creative storytelling to turn one of Asia’s busiest hubs into an international destination for digital art and public engagement.

Picture: Giant Screen in the Golden Triangle of KL
Picture: Giant Screen in the Golden Triangle of KL

Located near the Petronas Towers, the site draws over 500,000 pedestrians daily. To stand out, Absen partnered with a Spanish visual design team to create an immersive narrative: a giant panda peeks from behind curtain, slips while reaching for bamboo, floats in zero gravity, and is pulled into a swirling vortex—before “I Love KL” appears and the panda lands playfully, sparking cheers and social sharing. Each scene breaks screen boundary, delivering powerful visual impact with strong viral potential.

“Malaysians have a natural affection for pandas,” said Sophia, Absen’s Malaysia Outdoor Advertising Manager. “This isn’t just advertising—it’s an urban-scale interactive experience that makes the screen part of city’s collective memory.”

Built for high-traffic, high-challenge urban environments, the A25 features IP66 full-sealing and a five-layer waterproof interface, ensuring reliability in high heat, humidity, and monsoon rains. Its advanced power-saving technology reduces energy consumption by over 50% compared to conventional displays, saving up to USD 200,000 in electricity over five years for a 300㎡ screen—dramatically lowering total cost of ownership.

A client representative said: “We chose Absen for efficiency, durability, and image quality. But more importantly, it helps us create something iconic—not just another ad. With 3D storytelling and custom pandas, we make it fun, not boring.”

Since launching its first overseas screen in Saudi Arabia in 2005, Absen has deployed over 2 million displays worldwide. “We make low power consumption a core focus of our R&D,” said Shaun, Absen VP & R&D Director. “The A25 redefines the ‘low-carbon landmark’ — energy-smart, reliable, and city-activating. Backed by a 10-year warranty, it sets a new standard for outdoor displays.”

As the first of 20 global landmarks, the Kuala Lumpur project embodies Absen’s vision: where technology, creativity, and urban culture converge to shape future of public spaces.

Hashtag: #Absen

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

Yuexiu Transport (1052) profit attributable to shareholders increased by 15%


HONG KONG SAR – Media OutReach Newswire – 15 August 2025 – Yuexiu Transport (1052) announced its interim results 2025 and recorded revenue of RMB2.099 billion, representing a year-on-year increase of 14.9%. Profit attributable to shareholders was RMB361 million, an increase of 14.9%. The Company remains committed to maintaining a stable dividend policy with an interim dividend of HK$0.12 per share, equivalent to the payout ratio of 50%.

In November 2024, the Company acquired the Pinglin Expressway from its parent company. During the period, this project contributed approximately RMB256 million in toll revenue and approximately RMB42 million in profit attributable. This project is continuously bringing new momentum to the Company’s development and benefiting its long-term growth.

In the first half of 2025, the Company’s revenue and profit attributable to shareholders both realized double-digit growth. The Company’s 10 subsidiary projects, as a whole, recorded y-o-y growth in both average daily toll revenue and average daily toll traffic volume. The Company further reduced its total liabilities-to-total assets ratio, continued to optimise its financial structure and further extended its debt duration. The total liabilities-to-total assets ratio was 57.9%, dropped by 1.0 percentage point compared to the end of 2024. The weighted average financing rate was 2.57%, down by 0.48 percentage point compared to the first half of 2024.

The Company is committed to becoming a leading transport infrastructure asset management company in China. Guided by its “3331” development strategy, the Company will refine the three platforms (listed platform, REITs platform, incubation platform), enhance the three core abilities (investment ability, operation and maintenance and construction management ability, capital operation ability), and focus on three directions (expressway main business, key areas, expansion of related auxiliary businesses).

The Company will firmly grasp the strategic opportunities in expressway investment and mergers and acquisitions. Gaining its foothold in Guangdong, Hong Kong and Macau Greater Bay Area and in Central and Eastern China, the Company will expand its presence in the regions benefiting from urbanisation process and rapid industrialisation development. With the full utilisation of a model that features interaction among its three platforms, the Group continues to strengthen and expand its infrastructure business, with a particular focus on toll roads.

Hashtag: #YuexiuTransport

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

Noah to Report Second Quarter and Half Year 2025 Unaudited Financial Results on August 27, 2025

SHANGHAI, Aug. 15, 2025 /PRNewswire/ — Noah Holdings Limited (the “Company” or “Noah”) (NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth management service provider offering comprehensive advisory services on global investment and asset allocation primarily for global Chinese high-net-worth investors, today announced that it will report its unaudited financial results for the second quarter and half year ended June 30, 2025, after U.S. markets close on August 27, 2025.

Noah’s management team will hold an earnings conference call at 8:00 p.m. U.S. Eastern Time on Wednesday, August 27, 2025 (8:00 a.m. Beijing/Hong Kong Time on Thursday, August 28, 2025). 

The conference call may be accessed with the following details:

Dial-in details:

Conference title:

Noah Second Quarter and Half Year 2025 Earnings Conference Call

Date/Time:  

Wednesday, August 27, 2025, at 8:00 p.m., U.S. Eastern Time
Thursday, August 28, 2025, at 8:00 a.m., Hong Kong Time

Dial in:

– Hong Kong Toll Free:

800-963976

– United States Toll Free:

1-888-317-6003

– Mainland China Toll Free:

4001-206115

– International Toll:

1-412-317-6061

Participant Password:

6509383

A telephone replay will be available starting approximately one hour after the end of the conference until September 3, 2025 at 1-877-344-7529 (US Toll Free) and 1-412-317-0088 (International Toll) with the access code 8450356.

A live and archived webcast of the conference call will be available on the Company’s investor relations website under the “News & Events” section at http://ir.noahgroup.com.

ABOUT NOAH HOLDINGS LIMITED

Noah Holdings Limited (NYSE: NOAH and HKEX: 6686) is a leading and pioneer wealth management service provider offering comprehensive one-stop advisory services on global investment and asset allocation primarily for global Chinese high-net-worth investors. In the first quarter of 2025, Noah distributed RMB16.1 billion (US$2.2 billion) of investment products. Through Gopher Asset Management and Olive Asset Management, Noah had assets under management of RMB149.3 billion (US$20.6 billion) as of March 31, 2025.

Noah’s domestic and overseas wealth management business primarily distributes private equity, public securities and insurance products denominated in RMB and other currencies. Noah’s network covers major cities in mainland China, as well as Hong Kong (China), New York, Silicon Valley, Singapore, and Los Angeles. The Company’s wealth management business had 463,161 registered clients as of March 31, 2025. Through its domestic and overseas asset management business operated by Gopher Asset Management and Olive Asset Management, Noah manages private equity, public securities, real estate, multi-strategy and other investments denominated in RMB and other currencies. The Company also provides other businesses.

For more information, please visit Noah at ir.noahgroup.com.

SAFE HARBOR STATEMENT

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Noah may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Noah’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. These statements include, but are not limited to, estimates regarding the sufficiency of Noah’s cash and cash equivalents and liquidity risk. A number of factors could cause Noah’s actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: its goals and strategies; its future business development, financial condition and results of operations; the expected growth of the wealth management and asset management market in China and internationally; its expectations regarding demand for and market acceptance of the products it distributes; investment risks associated with investment products distributed to Noah’s investors, including the risk of default by counterparties or loss of value due to market or business conditions or misconduct by counterparties; its expectations regarding keeping and strengthening its relationships with key clients; relevant government policies and regulations relating to its industries; its ability to attract and retain qualified employees; its ability to stay abreast of market trends and technological advances; its plans to invest in research and development to enhance its product choices and service offerings; competition in its industries in China and internationally; general economic and business conditions globally and in China; and its ability to effectively protect its intellectual property rights and not to infringe on the intellectual property rights of others. Further information regarding these and other risks is included in Noah’s filings with the U.S. Securities and Exchange Commission and the Hong Kong Stock Exchange. All information provided in this press release and in the attachments is as of the date of this press release, and Noah does not undertake any obligation to update any such information, including forward-looking statements, as a result of new information, future events or otherwise, except as required under the applicable law.

Tuniu Announces Unaudited Second Quarter 2025 Financial Results

NANJING, China, Aug. 15, 2025 /PRNewswire/ — Tuniu Corporation (NASDAQ: TOUR) (“Tuniu” or the “Company”), a leading online leisure travel company in China, today announced its unaudited financial results for the second quarter ended June 30, 2025.

“We were pleased to see that the company maintained steady growth in the second quarter,” said Mr. Donald Dunde Yu, Tuniu’s founder, Chairman and Chief Executive Officer. “Net revenues increased by 15.3% year-over-year, with revenues from packaged tours rising by 26.3%, and the company returned to profitability for the period. During the quarter we continued to strengthen the integration of our supply chain, products, and sales channels. In response to an increasingly diversified channel landscape, we leveraged our industry value chain advantages to develop differentiated products tailored to various customer segments. We also expanded the application of digital technologies across more business scenarios to enhance operational efficiency and customer experience. We will continue to build on Tuniu’s core strengths to drive growth during the peak travel season.”

Second Quarter 2025 Results

Net revenues were RMB134.9 million (US$18.8 million[1]) in the second quarter of 2025, representing a year-over-year increase of 15.3% from the corresponding period in 2024.

  • Revenues from packaged tours were RMB113.4 million (US$15.8 million) in the second quarter of 2025, representing a year-over-year increase of 26.3% from the corresponding period in 2024. The increase was primarily due to the growth of organized tours and self-drive tours.
  • Other revenues were RMB21.5 million (US$3.0 million) in the second quarter of 2025, representing a year-over-year decrease of 21.0% from the corresponding period in 2024. The decrease was primarily due to the decrease in the fees for advertising services provided to tourism boards and bureaus.

[1] The conversion of Renminbi (“RMB”) into United States dollars (“US$”) is based on the exchange rate of US$1.00=RMB 7.1636 on June 30, 2025 as set forth in H.10 statistical release of the U.S. Federal Reserve Board and available at https://www.federalreserve.gov/releases/h10/default.htm

Cost of revenues was RMB48.9 million (US$6.8 million) in the second quarter of 2025, representing a year-over-year increase of 50.2% from the corresponding period in 2024. As a percentage of net revenues, cost of revenues was 36.2% in the second quarter of 2025, compared to 27.8% in the corresponding period in 2024.

Gross profit was RMB86.0 million (US$12.0 million) in the second quarter of 2025, representing a year-over-year increase of 1.9% from the corresponding period in 2024.

Operating expenses were RMB78.9 million (US$11.0 million) in the second quarter of 2025, representing a year-over-year increase of 58.0% from the corresponding period in 2024. The increase was primarily due to the net gain on disposals of subsidiaries of RMB24.6 million recorded in the corresponding period in 2024.

  • Research and product development expenses were RMB16.4 million (US$2.3 million) in the second quarter of 2025, representing a year-over-year increase of 29.2%. The increase was primarily due to the increase in research and product development personnel related expenses. Research and product development expenses as a percentage of net revenues were 12.2% in the second quarter of 2025.
  • Sales and marketing expenses were RMB45.0 million (US$6.3 million) in the second quarter of 2025, representing a year-over-year increase of 11.9%. The increase was primarily due to the increase in sales and marketing personnel related expenses and promotion expenses. Sales and marketing expenses as a percentage of net revenues were 33.4% in the second quarter of 2025.
  • General and administrative expenses were RMB17.8 million (US$2.5 million) in the second quarter of 2025, representing a year-over-year decrease of 18.3%. The decrease was primarily due to the reversal of current expected credit losses allowance. General and administrative expenses as a percentage of net revenues were 13.2% in the second quarter of 2025.

Income from operations was RMB7.1 million (US$1.0 million) in the second quarter of 2025, compared to an income from operations of RMB34.5 million in the second quarter of 2024. Non-GAAP[2] income from operations, which excluded share-based compensation expenses and amortization of acquired intangible assets, was RMB9.1 million (US$1.3 million) in the second quarter of 2025.

[2] The section below entitled “About Non-GAAP Financial Measures” provides information about the use of Non-GAAP financial measures in this press release, and the table captioned “Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this press release reconciles Non-GAAP financial information with the Company’s financial results under GAAP.

Net income was RMB14.1 million (US$2.0 million) in the second quarter of 2025, compared to a net income of RMB43.0 million in the second quarter of 2024. Non-GAAP net income, which excluded share-based compensation expenses and amortization of acquired intangible assets, was RMB16.1 million (US$2.2 million) in the second quarter of 2025.

Net income attributable to ordinary shareholders of Tuniu Corporation was RMB14.5 million (US$2.0 million) in the second quarter of 2025, compared to a net income attributable to ordinary shareholders of Tuniu Corporation of RMB43.0 million in the second quarter of 2024. Non-GAAP net income attributable to ordinary shareholders of Tuniu Corporation, which excluded share-based compensation expenses and amortization of acquired intangible assets, was RMB16.5 million (US$2.3 million) in the second quarter of 2025.

As of June 30, 2025, the Company had cash and cash equivalents, restricted cash, short-term investments and long-term deposits of RMB1.2 billion (US$172.0 million). 

Business Outlook

For the third quarter of 2025, Tuniu expects to generate RMB199.0 million to RMB208.3 million of net revenues, which represents a 7% to 12% increase year-over-year compared with net revenues in the corresponding period in 2024. This forecast reflects Tuniu’s current and preliminary view on the industry and its operations, which is subject to change.

Share Repurchase Update

In March 2024, the Company’s Board of Directors authorized a share repurchase program (the “2024 Share Repurchase Program”) under which the Company may repurchase up to US$10 million worth of its ordinary shares or American depositary shares (“ADS”) representing ordinary shares. As of July 31, 2025, the Company had repurchased an aggregate of approximately 10.6 million ADSs for approximately US$9.9 million from the open market under the 2024 Share Repurchase Program.

In August 2025, the Company’s Board of Directors authorized a new share repurchase program under which the Company may repurchase up to US$10 million worth of its ordinary shares or ADSs representing ordinary shares, effective immediately upon the termination of the 2024 Share Repurchase Program.

The Company’s proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. Tuniu plans to fund the repurchases from its available cash balance.

Conference Call Information

Tuniu’s management will hold an earnings conference call at 8:00 am U.S. Eastern Time, on August 15, 2025, (8:00 pm, Beijing/Hong Kong Time, on August 15, 2025) to discuss the second quarter 2025 financial results.

To participate in the conference call, please dial the following numbers:

United States

1-888-346-8982

Hong Kong

852-301-84992

Mainland China

4001-201203

International

1-412-902-4272

Conference ID: Tuniu 2Q 2025 Earnings Conference Call

A telephone replay will be available one hour after the end of the conference call through August 22, 2025. The dial-in details are as follows:

United States

1-877-344-7529

International

1-412-317-0088

Replay Access Code: 8828112

Additionally, a live and archived webcast of the conference call will also be available on the Company’s investor relations website at http://ir.tuniu.com.

About Tuniu

Tuniu (Nasdaq: TOUR) is a leading online leisure travel company in China that offers integrated travel service with a large selection of packaged tours, including organized and self-guided tours, as well as travel-related services for leisure travelers through its website tuniu.com and mobile platform. Tuniu provides one-stop leisure travel solutions and a compelling customer experience through its online platform and offline service network, including a dedicated team of professional customer service representatives, 24/7 call centers, extensive networks of offline retail stores and self-operated local tour operators. For more information, please visit http://ir.tuniu.com

Safe Harbor Statement

This press release contains forward-looking statements made under the “safe harbor” provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Tuniu may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about Tuniu’s beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but are not limited to the following: Tuniu’s goals and strategies; the growth of the online leisure travel market in China; the demand for Tuniu’s products and services; its relationships with customers and travel suppliers; Tuniu’s ability to offer competitive travel products and services; Tuniu’s future business development, results of operations and financial condition; competition in the online travel industry in China; government policies and regulations relating to Tuniu’s structure, business and industry; the impact of health epidemics on Tuniu’s business operations, the travel industry and the economy of China and elsewhere generally; and the general economic and business condition in China and elsewhere. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Tuniu does not undertake any obligation to update such information, except as required under applicable law.

About Non-GAAP Financial Measures

To supplement the Company’s unaudited consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles (“GAAP”), the Company has provided non-GAAP information related to income from operations, net income, net income attributable to ordinary shareholders of Tuniu Corporation, which excludes share-based compensation expenses, amortization of acquired intangible assets, net gain on disposals of subsidiaries and impairment of property and equipment, net. The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We believe that the non-GAAP financial measures used in this press release are useful for understanding and assessing underlying business performance and operating trends, and management and investors benefit from referring to these non-GAAP financial measures in assessing our financial performance and when planning and forecasting future periods.

This non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as an analytical tool. Further, this non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore its comparability may be limited. The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating performance. Tuniu encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.

For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of GAAP and non-GAAP Results” set forth at the end of this press release.

(Financial Tables Follow)

Tuniu Corporation

Unaudited Condensed Consolidated Balance Sheets

(All amounts in thousands, except per share information)

 December 31, 2024 

 June 30, 2025 

 June 30, 2025 

 RMB 

 RMB 

 US$ 

ASSETS

Current assets

Cash and cash equivalents

465,004

438,084

61,154

Restricted cash 

26,061

10,715

1,496

Short-term investments

432,823

626,588

87,468

Accounts receivable, net

43,313

63,580

8,875

Amounts due from related parties

752

548

76

Prepayments and other current assets  

235,443

294,007

41,042

Total current assets

1,203,396

1,433,522

200,111

Non-current assets

Long-term investments

534,041

349,130

48,737

Property and equipment, net

32,849

19,839

2,769

Intangible assets, net

22,210

20,520

2,864

Land use right, net

88,467

Operating lease right-of-use assets, net

9,266

8,085

1,129

Other non-current assets

19,208

19,292

2,693

Total non-current assets

706,041

416,866

58,192

Total assets

1,909,437

1,850,388

258,303

LIABILITIES AND EQUITY

Current liabilities

Short-term borrowings

36

36

5

Accounts and notes payable 

290,112

348,323

48,624

Amounts due to related parties

3,121

4,257

594

Salary and welfare payable

23,148

20,470

2,858

Taxes payable

5,060

1,176

164

Advances from customers

247,151

193,413

26,999

Operating lease liabilities, current

2,994

3,163

442

Accrued expenses and other current liabilities

322,034

307,272

42,891

Total current liabilities

893,656

878,110

122,577

Non-current liabilities

Operating lease liabilities, non-current

1,680

1,373

192

Deferred tax liabilities

5,151

4,821

673

Total non-current liabilities

6,831

6,194

865

Total liabilities

900,487

884,304

123,442

Equity

Ordinary shares

249

249

35

Less: Treasury stock

(329,668)

(352,079)

(49,148)

Additional paid-in capital

9,146,928

9,119,636

1,273,052

Accumulated other comprehensive income

313,460

310,974

43,410

Accumulated deficit

(8,050,378)

(8,040,550)

(1,122,417)

Total Tuniu Corporation shareholders’ equity

1,080,591

1,038,230

144,932

Noncontrolling interests

(71,641)

(72,146)

(10,071)

Total equity

1,008,950

966,084

134,861

Total liabilities and equity

1,909,437

1,850,388

258,303

 

Tuniu Corporation

Unaudited Condensed Consolidated Statements of Comprehensive Income/(Loss)

(All amounts in thousands, except per share information)

 Quarter Ended 

 Quarter Ended 

 Quarter Ended 

 Quarter Ended 

 June 30, 2024 

 March 31, 2025 

 June 30, 2025 

 June 30, 2025 

 RMB 

 RMB 

 RMB 

 US$ 

Revenues

Packaged tours

89,782

98,969

113,404

15,831

Others

27,155

18,547

21,450

2,994

Net revenues

116,937

117,516

134,854

18,825

Cost of revenues

(32,530)

(48,169)

(48,865)

(6,821)

Gross profit

84,407

69,347

85,989

12,004

Operating expenses

Research and product development

(12,693)

(14,528)

(16,403)

(2,290)

Sales and marketing

(40,222)

(43,188)

(45,019)

(6,284)

General and administrative

(21,737)

(22,755)

(17,760)

(2,479)

Other operating income

24,735

326

312

44

Total operating expenses

(49,917)

(80,145)

(78,870)

(11,009)

Income/(Loss) from operations

34,490

(10,798)

7,119

995

Other income/(expenses)

Interest and investment income, net

8,221

7,829

7,279

1,016

Interest expense

(1,230)

(551)

(583)

(81)

Foreign exchange losses, net

(1,282)

(1,521)

(804)

(112)

Other income/(loss), net

1,822

(364)

(55)

(8)

Income/(loss) before income tax expense

42,021

(5,405)

12,956

1,810

Income tax expense

(459)

(52)

(274)

(38)

Equity in income of affiliates

1,438

105

1,423

199

Net income/(loss)

43,000

(5,352)

14,105

1,971

Net loss attributable to noncontrolling interests

(22)

(654)

(421)

(59)

Net income/(loss) attributable to ordinary shareholders of
Tuniu Corporation

43,022

(4,698)

14,526

2,030

Net income/(loss)

43,000

(5,352)

14,105

1,971

Other comprehensive income/(loss):

Foreign currency translation adjustment, net of nil tax

4,301

(861)

(1,625)

(227)

Comprehensive income/(loss)

47,301

(6,213)

12,480

1,744

Net income/(loss) per ordinary share attributable to ordinary
shareholders – basic and diluted

0.12

(0.01)

0.04

0.01

Net income/(loss) per ADS – basic and diluted*

0.36

(0.03)

0.12

0.03

Weighted average number of ordinary shares used in computing
basic income/(loss) per share

363,061,543

348,847,377

343,694,559

343,694,559

Weighted average number of ordinary shares used in computing
diluted income/(loss) per share

365,317,172

348,847,377

345,928,965

345,928,965

Share-based compensation expenses included are as follows

Cost of revenues

65

65

65

9

Research and product development

65

65

65

9

Sales and marketing

31

31

32

4

General and administrative

1,429

1,230

1,244

174

Total

1,590

1,391

1,406

196

*Each ADS represents three of the Company’s ordinary shares.

 

Reconciliations of GAAP and Non-GAAP Results

(All amounts in thousands, except per share information)

 Quarter Ended June 30, 2025

 GAAP Result 

 Share-based 

Amortization of acquired 

Net gain on

Impairment

 Non-GAAP 

 Compensation 

  intangible assets 

 disposals of subsidiaries 

 of property and equipment, net 

 Result 

Income from operations

7,119

1,406

591

9,116

Net income

14,105

1,406

591

16,102

Net income attributable to ordinary shareholders

14,526

1,406

591

16,523

 Quarter Ended March 31, 2025

 GAAP Result 

 Share-based 

Amortization of acquired 

Net gain on

Impairment

 Non-GAAP 

 Compensation 

  intangible assets 

 disposals of subsidiaries 

 of property and equipment, net 

 Result 

Loss from operations

(10,798)

1,391

764

3,316

(5,327)

Net (loss)/income

(5,352)

1,391

764

3,316

119

Net (loss)/income attributable to ordinary shareholders

(4,698)

1,391

764

3,316

773

 Quarter Ended June 30, 2024

 GAAP Result 

 Share-based 

Amortization of acquired 

Net gain on

Impairment

 Non-GAAP 

 Compensation 

  intangible assets 

 disposals of subsidiaries 

 of property and equipment, net 

 Result 

Income from operations

34,490

1,590

828

(24,618)

12,290

Net income

43,000

1,590

828

(24,618)

20,800

Net income attributable to ordinary shareholders

43,022

1,590

828

(24,618)

20,822

 

GIBO Holdings Limited Announces Effective Date of Share Consolidation

HONG KONG, Aug. 15, 2025 /PRNewswire/ — – GIBO Holdings Limited (“GIBO” or the “Company”), a unique and integrated AIGC animation streaming platform, today announced the date of effectiveness and the ratio of a forthcoming share consolidation of the Company’s ordinary shares.

On August 6, 2025, the Company’s shareholders voted and approved at the extraordinary general meeting a two-hundred (200)-for-one (1) share consolidation of the Company’s issued and unissued Class A ordinary shares and Class B ordinary shares, whereby every 200 authorized issued and unissued Class A ordinary shares, par value US$0.000001 each, will be consolidated into one Class A ordinary share, par value US$0.0002 each, and every 200 authorized issued and unissued Class B ordinary shares, par value US$0.000001 each, will be consolidated into one Class B ordinary share, par value US$0.0002 each. The Company anticipates that beginning with the opening of trading on August 20, 2025, the Company’s Class A ordinary shares will trade on the Nasdaq Global Market on a split-adjusted basis and will have a new CUSIP number, G38617125.

The share consolidation affects all issued and outstanding ordinary shares of the Company. In addition, the share consolidation reduces the number of Class A ordinary shares issuable upon the exercise of the Company’s warrants in proportion to the ratio of the share consolidation and causes a proportionate increase in the exercise prices of such warrants. The share consolidation affects all shareholders uniformly and will not alter any shareholder’s percentage interest in the Company’s equity. No fractional shares will be issued; instead, shareholders who would otherwise be entitled to a fractional share will have their entitlement rounded up to the nearest whole share.

The Company anticipates that the share consolidation will increase the market price per share of the Company’s Class A ordinary shares.

Registered shareholders holding pre-consolidated shares of the Company are not required to take any action to receive post- consolidated shares. Shareholders owning shares via a broker, bank, trust or other nominee will have their positions automatically adjusted to reflect the share consolidation, and will not be required to take any action in connection with the share consolidation.

About GIBO Holdings Limited

GIBO Holdings Limited is a unique and integrated AIGC animation streaming platform with extensive functionalities provided to both viewers and creators that serves a broad community of young people across Asia to create, publish, share and enjoy AI-generated animation video content. With approximately 86 million registered users and advanced AI-powered tools, GIBO seeks to revolutionize content creation and consumption through AI.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements also include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, the Company’s ability to scale and grow its business, the Company’s advantages and expected growth, the Company’s ability to source and retain talent, and the Company’s cash position, as applicable. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company’s management and are not predictions of actual performance. These statements involve risks, uncertainties and other factors that may cause the Company’s actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by these forward-looking statements. Although the Company believes that it has a reasonable basis for each forward-looking statement contained in this press release, the Company cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. The forward-looking statements in this press release represent the views of the Company as of the date of this press release. Subsequent events and developments may cause those views to change. Except as may be required by law, the Company does not undertake any duty to update these forward-looking statements.

Contact Information

Investor Relations:
Bill Zima
ICR, Inc.
William.zima@icrinc.com 

Media Relations:
Edmond Lococo
ICR, Inc.
Edmond.Lococo@icrinc.com

Trip.com Group Limited to Report Second Quarter and First Half of 2025 Financial Results on August 27, 2025 U.S. Time

SINGAPORE, Aug. 15, 2025 /PRNewswire/ — Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961), a leading one-stop travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel management, will announce its financial results for the three months and six months ended on June 30, 2025 on Wednesday, August 27, 2025, U.S. Time, after the market closes.

Trip.com Group’s management team will host a conference call at 8:00 PM U.S. Eastern Time on August 27, 2025 (or 8:00 AM on August 28, 2025 in the Hong Kong Time) following the announcement.

The conference call will be available on Webcast live and replay at: http://investors.trip.com. The call will be archived for twelve months at this website.

All participants must pre-register to join this conference call using the Participant Registration link below:
https://register-conf.media-server.com/register/BI721587a0c39340f2abf725eb0ffb89eb.

Upon registration, each participant will receive details for this conference call, including dial-in numbers and a unique access PIN. To join the conference, please dial the number provided, enter your PIN, and you will join the conference instantly.

About Trip.com Group Limited 

Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) is a leading global one-stop travel platform, integrating a comprehensive suite of travel products and services and differentiated travel content. It is the go-to destination for many travelers in Asia, and increasingly for travelers around the world, to explore travel, get inspired, make informed and cost-effective travel bookings, enjoy hassle-free on-the-go support, and share travel experience. Founded in 1999 and listed on Nasdaq in 2003 and HKEX in 2021, the Company currently operates under a portfolio of brands, including Ctrip, Qunar, Trip.com and Skyscanner, with the mission “to pursue the perfect trip for a better world.”

For further information, please contact:

Investor Relations
Trip.com Group Limited
Tel: +86 (21) 3406-4880 X 12229
Email: iremail@trip.com

From Waste to Worth: HP and TÜV Rheinland’s Sustainability Revolution

TAIPEI, Aug. 15, 2025 /PRNewswire/ — As companies worldwide strive for carbon reduction and net-zero goals, HP has been advancing its sustainable supply chain. Recently, HP has collaborated with suppliers to complete a brand closed-loop recycled materials certification project, audited by TÜV Rheinland Taiwan according to international standards. This initiative sets a new benchmark for e-waste recycling while demonstrating HP’s commitment to sustainability development.

HP has been an advocate of the circular economy as early as the 1960s. The enterprise has built upon its early initiatives in recycled materials programs to sustainably achieve the brand’s long-term sustainability goals, and this year it took a significant step by launching the recycling of the brand’s IT and telecom equipment waste—such as laptops, monitors, and keyboards—into raw materials for new products. HP has also partnered with TÜV Rheinland’s team of experts in recycled materials verification to establish inspection procedures, and TÜV Rheinland has fully conducted comprehensive audits throughout the entire process, complying with ISO 14021, EN 15343, and ISO 22095 standards.

Starting from waste collection, the inspection process involves meticulous evaluation of each stage, including manual sorting, dismantling, washing, electrostatic separation, and pelletizing, ensuring traceability and strict control. Unlike conventional e-waste processing, the emphasis with this system is precise manual disassembly and detailed classification management. During recycling, HP’s discarded products are carefully dismantled piece by piece, including screws, motherboards, and plastic parts, significantly enhancing material purity and recycled rates while minimizing contamination and material loss. According to TÜV Rheinland’s evaluation, a 65% recycled rate is achieved for ABS plastic from keyboards, enabling 0.65 kg of ABS to be recovered from every kilogram of discarded keyboards. Similarly, up to 30% of high-quality recycled plastic can be extracted from HP monitor waste and repurposed for next-generation HP products. This method has proven far more efficient and sustainable than traditional whole-device shredding.

In addition to plastics, HP has pioneered closed-loop recycling for metals. For example, PCBs rich in valuable metals undergo processes such as shredding, leaching, and electrolysis, enabling the recovery of 100% recycled electrolytic copper exclusively for HP. This comparatively sustainable process efficiently extracts material with electrolysis to separate multiple metals. The method ensures high purity and recovery rates, with an average of 200 to 300 kilograms of closed-loop recycled copper obtained per ton of discarded PCBs, showcasing its exceptional efficiency and sustainability.

Bringing over 20 years of experience in recycled material verification, TÜV Rheinland provided comprehensive technical support and inspection mechanisms, ensuring transparency and traceability across the recycling system—from waste collection to the application of materials in new HP products. TÜV Rheinland conducted rigorous audits of HP’s closed-loop recycling system and material production processes, ultimately verifying five types of material.

As consumer e-waste volumes continue to grow, governments and organizations worldwide are introducing stricter recycling regulations and encouraging the incorporation of recycled materials into products. HP’s closed-loop recycling model not only boosts resource efficiency but also sets a precedent for the electronics industry, promoting advancements in resource recovery and enhancing material management. Looking ahead, HP is taking further steps toward achieving a fully circular economy, and plans to expand its certification scope and integrate more recycled materials into HP products.