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CHNR Announces Non-Binding Letter of Intent to Acquire Majority Stake in HooRii Technology, Marking Strategic Shift to Physical AI

HONG KONG, March 19, 2026 /PRNewswire/ — China Natural Resources, Inc. (NASDAQ: CHNR) (“CHNR” or the “Company“), a holding company that operates in exploration and mining business, today announced that it has signed a non-binding Letter of Intent (“LOI“) with Feishang Group Limited, its principal shareholder (“Feishang“), to acquire 100% shares of a wholly owned subsidiary of Feishang that will own, directly or indirectly, 59.79% of the equity interest of HooRii Technology (HK) Limited (“HooRii“), a limited liability company incorporated in Hong Kong specializing in physical AI development, through the combination of IOT and artificial intelligence, to bring AI into the physical world (the “Acquisition“). The Company has established a special committee consisting of all of the independent directors to evaluate the Acquisition.  

Pursuant to the LOI, the Acquisition’s total consideration is estimated to range between US$37 million to US$40 million through a combination of cash and stock issuance. The Acquisition is subject to the negotiation and execution of definitive documentation, completion of due diligence, receipt of regulatory approvals, and necessary corporate approval, alongside other customary closing conditions.

This proposed Acquisition represents a pivotal strategic evolution for CHNR, advancing the Company’s dual mandate to strengthen its core mining operations through AI and to build a scalable growth platform in cutting-edge AI and IoT technologies. CHNR plans to deploy HooRii’s AI and IoT expertise to optimize mining workflows, enhance safety, and improve cost efficiency across CHNR’s global assets, while leveraging HooRii’s market-leading technology to expand into the high-growth Physica AI market, diversifying beyond traditional resources.

Since its founding in 2021, HooRii has been at the forefront of IoT technology. Supported by Feishang, HooRii is a world-leading company at the intersection of AI and IoT, determined to become a key force in connecting artificial intelligence with the physical world, driven by the mission to “Bring your AI to the real world.” HooRii initially focused on advancing the development and commercialization of the Thread protocol, successfully launching a series of hardware and software products and solutions that provided robust technical support for millions of IoT devices and thousands of developers worldwide.

In 2026, as OpenClaw became the most popular project in GitHub’s history, a wave of Personal AI Assistants swept the globe. HooRii seized this momentum to launch ClawStage, the first embodied personal AI built on the OpenClaw architecture. This landmark product received widespread acclaim within a month of its launch, gaining over ten million impressions and attracting more than ten thousand seed users. Since its inception, HooRii has secured multiple rounds of investment from renowned funds, including Plum Venture, Eminence Venture, and PreAngel Venture, with total financing exceeding $7 million USD.

“Today’s announcement marks a watershed moment for CHNR,” said, Wong Wah On Edward, Chief Executive Officer of CHNR. “As an experienced company in the traditional industries, we recognize that embracing AI is not merely an opportunity—it is a necessity. This proposed acquisition would accelerate our transformation, enabling us to apply HooRii’s innovative technology to our core mining business while unlocking new revenue potential in the fast-growing physical AI ecosystem. We are committed to balancing the strength of our heritage with the agility of a tech-enabled future.”

“HooRii’s journey from a start-up to a leader in physical AI is a testament to our team’s innovation and vision,” said Albert Licheng Zhu, Chief Executive Officer of HooRii Technology. “Teaming up with CHNR will provide us with the financial strength, global reach, and operational scale to accelerate product development and market expansion. We are delighted to partner with CHNR to redefine the future of both AI&IOT and the resources industry.”

Important Disclosure Regarding the LOI

The foregoing description of the LOI does not purport to be complete and are qualified in its entirety by reference to the full text of the agreement, which the Company plans to furnish as an exhibit on its current report on Form 6-K.

Investors are cautioned that the LOI is non-binding and serves only as a preliminary expression of intent. The Company provides no assurance that a definitive agreement will be executed or that the proposed acquisition will be consummated on the terms described, or at all. Furthermore, the Company can offer no guarantee regarding the timing of the potential closing, which remains subject to the satisfaction of various closing conditions.

About China Natural Resources, Inc.

China Natural Resources, Inc. (NASDAQ: CHNR) is currently a holding company that operates in exploration and mining business. The Company is engaged in the acquisition and exploitation of mining rights in Inner Mongolia, including exploring for lead, silver and other nonferrous metal, and is actively exploring business opportunities in the healthcare and other non-natural resource sectors. Committed to operational excellence, sustainability, and shareholder value, CHNR is advancing a strategic transformation to integrate AI and technology across its business.

About HooRii Technology Limited

HooRii is a Hong Kong-based Physical AI innovator specializing embodied personal AI built on the OpenClaw architecture. Supported by Feishang and many other venture capital funds, HooRii is dedicated to making AI accessible and intuitive for consumers and businesses worldwide.

Forward-Looking Statements

This press release contains certain statements that may include “forward-looking statements.” All statements other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on the SEC’s website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the applicable securities laws, the Company does not assume a duty to update these forward-looking statements.

[MWC 2026] Preparing for AI Calling: Ookla’s Vision for Updated Voice Quality Standards

BARCELONA, Spain, March 19, 2026 /PRNewswire/ — At MWC 2026, Mark Giles, Industry Research & Analysis Director at Ookla—a global leader in connectivity intelligence—delivered a keynote titled “Experience-Driven Voice Core Network with Ookla RootMetrics.” In his speech, Mark Giles introduced the HD voice experience evaluation framework and the AI Calling voice experience evaluation framework. He also shared insights from a recent voice evaluation project in the Philippines. Ookla is dedicated to assisting operators in enhancing their voice networks through experience evaluations, ultimately improving user satisfaction.

Mark Giles emphasized that voice services are advancing in three key areas. First, new user groups like live streamers and digital avatars are emerging. Second, innovative smart terminals such as AI assistants and AI glasses are on the rise. Last, new user behaviors, including AI applications and remote interactions, are becoming prevalent. These advancements are driving the voice experience toward higher definition, AI integration, accessibility, immersion, and interactivity.

Ookla outlines the new voice experience evaluation framework for AI Calling
Ookla outlines the new voice experience evaluation framework for AI Calling

Mark Giles noted that the dimensions for evaluating voice experience must adapt to include AI. Assessing AI-powered voice experience is a major industry focus. Therefore, in addition to traditional QoE, QoS, and coverage metrics, Ookla’s voice experience evaluation now incorporates three new dimensions: AI-based immersive experience, AI-based interaction experience, and QoI (Quality of Intelligence). QoI measures factors like the accuracy and latency of AI models, and service inclusivity. The AI-based immersive experience evaluates elements such as AI noise reduction MOS. The AI-based interaction experience assesses aspects like real-time translation accuracy. This updated framework offers a more thorough and structured approach to guiding operators’ voice services in the AI age.

Ookla uses its world-leading drive test tool, RootMetrics, to evaluate operators’ voice experience in regions like Asia Pacific, the Middle East, and Latin America. In his presentation, Mark Giles discussed their voice service evaluation project in the Philippines. Using Speedtest Drive, Ookla conducted a comprehensive 1,200 km drive test, collecting 23,000 data samples in Manila. This test provided the first systematic and thorough insight into the country’s voice service experience. Results of Philippines project showed that operator-provided VoLTE services significantly outperform OTT services in metrics like MOS, call blocking, and call drops. This is due to OTT voice services sharing bandwidth with general Internet traffic, making them more susceptible to network congestion. During peak data usage, OTT calls can be blocked or interrupted. Moreover, the data reveals that the overall VoLTE connection rate in the Philippines stands at just 31%, a notably low figure. To improve voice experience, phase out outdated 3G networks, and embrace AI-driven advancements, the Philippines must further develop its VoLTE services. Moving forward, Ookla will continue to evaluate AI-enhanced voice services in countries like the Philippines. For more details, download the report from the Ookla official website.

Cirrus360 presents 5G-edge-cloud innovation for workflow automation for small and medium meat processors

RICHARDSON, Texas, March 19, 2026 /PRNewswire/ — Cirrus360 is excited to have presented their 5G-edge-cloud innovation for workflow automation for small and medium meat processors, at the 2026 International Livestock Congress held March 4-5, 2026, in Houston, Texas, during the Houston Livestock Show & Rodeo.

Small and medium sized poultry and meat processors provide many advantages to society at large, enabling a diversity of choice in meat and poultry products, local employment often in rural communities, a more efficient and reliable food supply chain, and a low carbon footprint farm-to-table food chain within a local community. However, they do not have the advantages of scale that allow their larger competitors to maintain large teams for quality and compliance as well as install complicated and expensive Information Technology (IT) equipment to support their workflows.

In collaboration with meat processing specialists at Rail19, and Texas A&M meat science faculty, Cirrus360 presented an automation assisted, affordable, and integrated solution, Edgware™, to address the above challenges with sensors, 5G edge, cloud and automation technology. This solution allows a small meat processor, with little to no IT investment, to leverage an automated system for monitoring and analysis of their production flows and processes – to meet their business needs, prevent waste and overhead, as well as meet the requirements of USDA/FSIS and state regulatory bodies.

“This technology will help small businesses to streamline their daily operations automating tedious and time-consuming processes, reducing manual effort wherever possible, and enabling real-time incident detection and reporting, through a centralized management console,” said Sudipta Sen, founder and VP Product Engineering at Cirrus360.

“Cirrus360’s work with the USDA to develop and advance affordable technology for small meat processing plants gives us great hope for the future of our industry. Many low volume meat processing plants struggle to attain technologies and software as many are unaffordable or too complex for our scope of work,” said Katie Koon, Managing Partner, Rail 19, Brashear, TX.

“This collaboration between Cirrus360 and Rail19 has resulted in innovation that combines communications and data sensing technologies in a very applied, sensible way to solve the complex problems faced by small meat processors in trying to achieve their business goals while adhering to the highest standard of food safety and the associated regulations,” said Prof. Penny Riggs, Department of Animal Science, Texas A&M University.

Cirrus360 appreciates USDA NIFA for a Phase III Meat and Poultry Processing Research Initiative (MPPRI) award which provided the funding for this research and development of Edgware™.

The 5G system integration and validation leveraged Cirrus360’s, Gabriel™ platform, developed with funding from US Department of Commerce, National Telecommunications and Information Administration (NTIA), Public Wireless Supply Chain Innovation Fund.

The integrated solution incorporates private 5G hardware from Pegatron Corporation, including an Intel Xeon Icelake-D server, Pegatron radio unit, Pegatron 5G camera, sensors, and the open source OCUDU https://ocudu.org/ 5G stack.

About Cirrus360:

Cirrus360’s mission and commercial focus is to bring AI reasoning driven automation to 5G/6G/edge system integration and validation, enabling a diversity of applications, for markets such as defense, industrial, ultra-secure facilities, healthcare, and logistics. Cirrus360 is based in the Dallas Fort Worth metroplex area.

In Mobile World Congress, Barcelona, 2024, Cirrus360 was recognized with a Global Mobile (GLOMO) award, the industry’s most prestigious accolade, in the category “Best Digital Tech Breakthrough for companies under $10 million Annual Revenue” for our Intelligent Automation platform, Gabriel™.

With the strength of US entrepreneurship and engineering ingenuity, Cirrus360’s AI Reasoning enabled integration and validation services are well positioned to enable competitive 5G/6G solutions to meet market and use case specific requirements.

Media Contact: Sudipta Sen, sudipta@cirrus3sixty.com, https://www.linkedin.com/company/cirrus360

92% of Companies Exposed to Tax & Compliance Risks When Hiring Internationally, Multiplier Report Finds

Survey of 500 global business leaders finds global hiring is accelerating faster than companies can manage compliance

NEW YORK, March 19, 2026 /PRNewswire/ — As global hiring accelerates, most companies are exposing themselves to significant compliance risk. Only 8% of organizations report being fully compliant with international tax and labor laws, according to data from Multiplier’s Global Hiring Gap report.

Based on a survey of 500 global business decision-makers, the report highlights a widening disconnect between ambition and readiness. While 96% of companies say international hiring improves talent quality, most are not equipped to manage the complexity of rising visa costs and shifting labor regulations, leaving them struggling to keep up with evolving global demands.

Nearly half (46%) of respondents said they are hiring internationally to access AI skills, reflecting the pace of technological change. This trend is compounded by immigration and visa constraints, with 33% of respondents citing these challenges as a key driver for hiring abroad.

Even when companies identify the right talent abroad, compliance gets in the way. 46% say they’ve failed to onboard international hires because of it, and with labor laws evolving and regulatory complexity on the rise, global expansion is only getting harder to navigate.

“While the global economy is more interconnected than ever, the regulatory landscape for hiring remains extremely fragmented,” says Sagar Khatri, Co-Founder and CEO of Multiplier. “91% of companies are able to hire faster when they look abroad, so the desire to hire from anywhere is there. Simplifying compliance is the key to making the next era of hiring truly borderless.”

The report surveyed companies with between 50 and 1,000 employees from the U.S., Singapore, the U.K., and Australia. The report expands on several additional trends and is now available to download on Multiplier’s website.

About Multiplier
Multiplier is the Global Exchange for Work, precision-built for companies to hire, manage, and pay global teams across 150+ countries. By combining world-class tools, including EOR, COR, and Global Payroll, with a vast network of owned entities and human-first support, Multiplier empowers companies of all sizes to expand globally with confidence. Since 2020, the global-first infrastructure has helped over 1,500 companies and now processes over $2 billion in cross-border wages, reshaping the global economy and the future of work.

ST Engineering iDirect Demonstrates 3GPP NTN Access at Satellite 2026

Advancing native 5G integration across satellite networks

HERNDON, Va., March 19, 2026 /PRNewswire/ — ST Engineering iDirect, a global leader in satellite communications, will showcase a live demonstration of native 5G NR-NTN (New Radio Non-Terrestrial Network) connectivity featuring a satellite-optimized 5G gNodeB integrated into its cloud-native Intuition ground system, at the Satellite 2026 Conference. The technology enables standards-based 5G NR satellite access from the 5G UE (User Equipment) to the 5G core network and marks the next phase of the company’s 5G roadmap, highlighting its progress in 5G convergence.

“The live 5G NR-NTN demonstration marks a major milestone in our hybrid 5G strategy,” said Sridhar Kuppanna, Chief Technology Officer at ST Engineering iDirect.
“The live 5G NR-NTN demonstration marks a major milestone in our hybrid 5G strategy,” said Sridhar Kuppanna, Chief Technology Officer at ST Engineering iDirect.

The demonstration will highlight native 5G NR-NTN access interfacing with the 5G core, enabling seamless interoperability with terrestrial networks as well as other 3GPP and non-3GPP NTN systems supporting advanced 5G applications. This capability is essential for operators and enterprises extending 5G services globally across hybrid terrestrial satellite environments and represents a major step toward unified, standards-based 5G NTN deployments that enable ubiquitous connectivity.

The demonstration builds on ST Engineering iDirect’s earlier work in enabling roaming across non-3GPP networks and now highlights the second pillar of its 5G NTN roadmap: full 3GPP NTN access. The solution integrates ST Engineering iDirect’s satellite-optimized RAN technology, including a 5G gNodeB stack developed as part of the Intuition system. Building on decades of innovation in satellite radio access networks, it aligns with the latest 3GPP NTN specifications and establishes a foundation for future advancements, such as ST Engineering iDirect’s recently demonstrated GNSS-free capabilities for 5G NR, while accelerating the transition to standardized, software-defined 5G NTN networks.

“The live 5G NR-NTN demonstration marks a major milestone in our hybrid 5G strategy,” said Sridhar Kuppanna, Chief Technology Officer at ST Engineering iDirect. “This is the foundation of our approach—enabling operators to evolve from non-3GPP to full 3GPP NTN access while maximizing the value of their existing infrastructure and preparing for the next generation of hybrid 5G–6G networks.”

Visit ST Engineering iDirect at Booth 2406 at the Satellite 2026 Conference in Washington, D.C., March 23-26, to see firsthand how native 5G NR-NTN connectivity is shaping the future of integrated, standards‑based global connectivity.

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications (satcom) providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their satcom networks. With over 40 years of delivering innovation focused on solving satellite’s most critical economic and technology challenges we are committed to shaping the future of how the world connects. The product portfolio, branded iDirect, represents the highest standards in performance, efficiency and reliability, making it possible for its customers to deliver the best satcom connectivity experience anywhere in the world. ST Engineering iDirect is a leader in key industries including mobility, broadcast and military/government. In 2007, iDirect Government was formed to better serve the U.S. government and defense communities. For more information visit www.idirect.net.

 

Brii Biosciences Provides Corporate Updates and Reports Full Year 2025 Financial Results

Advancing HBV Functional Cure Toward Key Phase 2b Data Readouts

Increasing Discovery Efforts to Drive Long-term Value Creation

Strong Cash Position Supporting Strategic Priorities

Upcoming Conference Calls: 
English Session: March 20 at 8:30 p.m. HKT / 8:30 a.m. ET 
Chinese Session: March 20 at 8:30 a.m. HKT / March 19 at 8:30 p.m. ET

DURHAM, N.C. and BEIJING, March 19, 2026 /PRNewswire/ — Brii Biosciences Limited (“Brii Bio,” “Brii,” or the “Company,” stock code: 2137.HK), a biotechnology company developing therapies to improve patient health and choice across diseases with high unmet medical need, today provided a corporate update and reported its financial results for the full year ended December 31, 2025.

2025 marked a year of strong execution and strategic progress for Brii Bio, with continued advancement of its late-stage hepatitis B virus (HBV) portfolio toward higher functional cure rates. The Company presented 24-week post end of treatment (EOT) follow-up data from Cohort 4 of its ongoing Phase 2b ENSURE study at the American Association for the Study of Liver Diseases (AASLD) The Liver Meeting®, with simultaneous publication in Nature Medicine. These results support the potential of BRII-179 to improve functional cure outcomes across diverse patient populations. Leveraging insights from the ENSURE Cohort 4, Brii Bio amended the ENHANCE study protocol to evaluate an alternative triple combination regimen aimed at reducing the duration of pegylated interferon alpha (PEG-IFNα) treatment while maintaining efficacy. The confirmatory Phase 2b ENRICH and ENHANCE studies are now fully enrolled, with results expected to be announced in 2H 2026.

Alongside its HBV cure programs, Brii Bio has expanded its discovery efforts under the leadership of Chief Scientific Officer Dr. Brian Johns, who joined the Company in 2024. The Company has established robust in-house discovery capabilities, supported by an experienced discovery team, and wet lab operations in both Beijing and Shanghai. These capabilities leverage China’s strong drug discovery ecosystem anchored by both innovation and execution efficiency to advance Brii Bio’s early-stage pipeline while driving long-term value creation. The Company plans to disclose additional details on its discovery strategy and pipeline later this year.

Aligned with its evolving mission and strategy, the Company maintained disciplined financial management in 2025, including targeted adjustments to its operating structure and compensation framework to better align management incentives with long-term shareholder interests and business performance. Together with prudent capital allocation, the actions supported a strong cash position of US$276.1 million as of December 31, 2025, providing financial flexibility to advance both the Company’s HBV functional cure programs and growing discovery pipeline.

“2025 was a year of strong execution for Brii Bio as we continued to advance our HBV functional cure strategy,” said Dr. Zhi Hong, Chairman and Chief Executive Officer of Brii Bio. “The publication of our ENSURE study data in Nature Medicine underscores the scientific rigor behind our clinical approach and our long-standing commitment to improving outcomes for patients with chronic hepatitis B. At the same time, we strengthened our discovery capabilities to enable future pipeline expansion. By balancing near-term execution with long-term innovation, we are positioning the Company for durable portfolio growth and value creation.”

Clinical Program Updates

HBV Program

Brii Bio continues to advance its HBV pipeline with a strong focus on achieving higher rates of functional cure through novel combination regimens. The Company is progressing multiple ongoing Phase 2b combination studies (ENSURE, ENRICH and ENHANCE) evaluating its differentiated HBV therapeutics, including elebsiran, an HBV-targeting siRNA, and BRII-179, a recombinant protein-based HBV immunotherapeutic. 

  • The Phase 2b ENSURE study is designed to assess the safety and efficacy of combination approaches aimed at improving functional cure outcomes.  Cohorts 1-3 evaluate elebsiran in combination with PEG-IFNα compared to PEG-IFNα monotherapy, while Cohort 4 evaluates the potential role of BRII-179 in identifying immunologically responsive patients and improving hepatitis B surface antigen (HBsAg) loss rates.

    In 2025, Cohort 4 demonstrated encouraging results with BRII-179.  Key data were presented at major international liver congresses including Asian Pacific Association for the Study of the Liver (APASL), the European Association for the Study of the Liver (EASL) Congress and AASLD The Liver Meeting®, reinforcing BRII-179’s potential to contribute to functional cure improvements for chronic hepatitis B.

    Key findings included:

– Median baseline [range] HBsAg were numerically higher in BRII-179-induced anti-HBs responders (520 [34-2,165] IU/mL) compared with non-responders (185 [51-672] IU/mL).

– At 24 weeks post end of treatment (EOT), HBsAg loss was observed in 42.1% (8/19) of BRII-179-induced anti-HBs responders compared with 8.3% (1/12) of non-responders.

– While all participants with sustained HBsAg loss had baseline HBsAg below 1,500 IU/mL in the ENSURE study, 50% (4/8) of anti-HBs responders had baseline HBsAg levels between 1,514 and 3,086 IU/mL when enrolled in the previous study, suggesting BRII-179 may induce anti-HBs responses across a broader range of baseline HBsAg levels.

Long-term follow-up data from the ENSURE study are expected in 1H 2026 and will be presented at a future scientific conference.

  • To further define the role of BRII-179 in HBV treatment and identify an optimal combination regimen for potential registrational development, the Company is evaluating BRII-179 in two additional ongoing Phase 2b studies.

– ENRICH Study: Evaluates the role of BRII-179 in priming HBV-specific immune responses and/or identifying immunologically responsive patients with a higher likelihood of achieving functional cure.

– ENHANCE Study: Evaluates a triple combination treatment regimen of BRII-179 and elebsiran plus PEG-IFNα to enhance the functional cure rate. Based on insights from ENSURE Cohort 4, the study protocol was amended to assess a simplified triple combination regimen designed to shorten PEG-IFNα treatment duration to 24 weeks.

All studies are now fully enrolled, with data from both the ENRICH and ENHANCE studies expected to be announced in 2H 2026.

  • In parallel, the Company has engaged with the Center for Drug Evaluation (CDE) of National Medical Products Administration (NMPA) to discuss potential Phase 3 study designs and primary endpoints. Results from the ongoing ENRICH and ENHANCE studies are expected to inform future registrational development decisions.

Additional Clinical Programs

  • In July 2025, Brii Bio announced a strategic out-licensing agreement with Joincare Group for the research, development, and commercialization of soralimixin in the Greater China region. The collaboration leverages Joincare Group’s established capabilities in anti-infective therapeutics to accelerate development and maximize the commercial potential of soralimixin. The Company retains rights outside of Greater China and continues to pursue non-dilutive funding and additional partnership opportunities.
  • Brii Bio is also actively seeking external partnerships to advance the development and commercialization of its long-acting candidates for treatment and prevention of HIV.

Discovery Program Updates

  • By the end of 2025, Brii Bio operated a translational research laboratory in Beijing and established a state-of-the-art, fully integrated discovery laboratory in Shanghai, supported by a discovery team of experienced industry professionals. Leveraging its global R&D footprint across China and the United States, Brii Bio aims to combine the innovation and execution efficiency of China-based R&D with deep global expertise in drug discovery and development. This operating model enables rapid translation of scientific insights into testable therapeutic hypotheses, efficient target selection, and consistent advancement of early-stage programs through key discovery milestones.
  • In December, Brii Bio announced its collaboration with OpenBench, leveraging its artificial intelligence (AI) platform to accelerate the Company’s discovery efforts.
  • Additional updates on Brii Bio’s new discovery programs are expected throughout 2026 as we advance towards the clinic.

Other Corporate Updates

As part of its continued focus on strengthening alignment between management incentives and long-term shareholder interests, the Board approved a reduction plan for senior management’s annual bonus arrangements for 2025 and 2026. Under this plan, in each of these years, the Company’s total compensation expense for executive annual bonuses will be significantly reduced to approximately one-quarter of the original level. This action reinforces the Company’s commitment to disciplined financial management and aligns management compensation more closely with business performance, capital market outcomes, and long-term shareholder value creation.

Outlook

Looking ahead, the Company remains focused on disciplined execution and continued innovation to advance both its late-stage HBV programs and early-stage discovery efforts. Clinical data readouts from the Phase 2b ENRICH and ENHANCE studies, anticipated in 2026, are expected to inform key development and registrational pathway decisions for the HBV portfolio, consistent with the Company’s long-standing commitment to achieving a functional cure for chronic hepatitis B.

Supported by an agile operating structure, strengthened internal capabilities, and a strong cash position, the Company is well positioned to build a differentiated profile over time through disciplined execution and a long-term strategic perspective.

Full Year 2025 Financial Results 

  • Bank deposits and cash and cash equivalents were RMB1,941.0 million as of December 31, 2025, representing a decrease of RMB472.4 million or 19.6% compared with RMB2,413.4 million as of December 31, 2024. The decrease was primarily due to payout of daily operations, research and development activities and acquisition of BRII-179-related assets.
  • Revenue was RMB18.6 million for the year ended December 31, 2025, primarily attributable to the upfront payment received under an intellectual property license and technology transfer agreement entered into with Joincare Group.
  • Other income was RMB68.8 million for the year ended December 31, 2025, representing a decrease of RMB72.6 million or 51.3% compared with RMB141.4 million for the year ended December 31, 2024. This was mainly due to the decrease in bank interest income of RMB35.6 million attributable to the declining interest rates on USD and HKD time deposits and the RMB33.0 million decrease in recognized income from government grants.
  • Research and development expenses were RMB212.9 million for the year ended December 31, 2025, representing a decrease of RMB36.9 million or 14.8% compared with RMB249.8 million for the year ended December 31, 2024. The decrease was primarily attributable to the decrease in third party contracting cost of RMB21.0 million [as the Company continued to prioritize HBV functional cure program, partially offset by increased investment in early discovery programs to support future pipeline growth]. The decrease was also attributable to the decrease in employee cost of RMB16.2 million, mainly resulting from organizational optimization and adjustments to the senior management compensation framework during the Reporting Period.
  • Administrative expenses were RMB109.5 million for the year ended December 31, 2025, representing a decrease of RMB43.7 million or 28.5% compared with RMB153.2 million for the year ended December 31, 2024. The decrease was primarily attributable to the decrease in employee cost of RMB24.8 million and professional fees of RMB10.4 million. The decrease was primarily due to organizational optimization, adjustments to the senior management compensation framework and effective cost control during the Reporting Period.
  • Loss for the year was RMB224.1 million for the year ended December 31, 2025, representing a decrease of RMB288.3 million or 56.3% compared with RMB512.4 million for the year ended December 31, 2024. The decrease in loss was primarily attributable to a reduction in fair value loss on equity investment of RMB124.5 million and a decrease in impairment losses of RMB141.1 million, which were largely non-operating in nature, as well as lower operating expenses. The decrease in loss was partially offset by the decrease in other income during the Reporting Period.

Conference Call Information

The Company will host two live conference calls. The Chinese session will be held on March 20 at 8:30 a.m. HKT (8:30 p.m. ET on March 19). For the registration link, please click here.  Followed by an English session on March 20 at 8:30 p.m. HKT (8:30 a.m. ET). For the registration link, please click here.

All participants are required to complete the online registration process using the applicable link prior to the conference call. A replay of each of the conference call will be available following the live event and can be accessed by visiting the Company’s website at www.briibio.com under the Investor Relations section.

This press release contains references to third-party information. Such information is not deemed to be incorporated by reference in this press release. Brii Bio disclaims responsibility for such third-party information.

About Brii Bio

 Brii Biosciences Limited (“Brii Bio,” stock code: 2137.HK) is a biotechnology company developing therapies to improve patients’ health by addressing high unmet medical needs with limited treatment options. The Company is advancing a broad pipeline of unique therapeutic candidates with lead programs against hepatitis B virus (HBV) infection.  The Company is led by a visionary and experienced leadership team and has operations in key biotech hubs, including Raleigh-Durham, the San Francisco Bay Area, Beijing and Shanghai. For more information, visit www.briibio.com.

Forward-Looking Statement

 The information communicated in this press release contains certain statements that are or may be forward-looking. These statements typically contain words such as “will,” “expects,” “believes,” “plans” and “anticipates,” and words of similar import. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There may be additional material risks that are currently not considered to be material or of which the Company is unaware. These forward-looking statements are not a guarantee of future performance. Against the background of these uncertainties, readers should not rely on these forward-looking statements. The Company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.

Anime Goes Mainstream: Driving Fan Economy and Experiential Cultural Spaces

HONG KONG, March 19, 2026 /PRNewswire/ — For generations growing up in Asia, anime has been more than just entertainment — it has been a defining part of everyday life. In Hong Kong, it is neither unfamiliar nor niche. From television broadcasts and manga bookstores to large-scale conventions that draw thousands each year, anime has long been embedded in the collective memory of multiple generations. Yet despite its strong presence, it has often been categorised as “subculture”— highly visible, but rarely recognised as a cultural domain worthy of long-term development. In recent years, this perception has begun to shift.

With the rise of streaming platforms, Japanese anime and manga have become increasingly accessible across borders, significantly expanding their global audience. At the same time, in markets such as Japan, South Korea and the West, anime has moved beyond the screen, intersecting with exhibitions, art, fashion, music, and broader urban culture. It is evolving into a cultural language that can be experienced, participated in and shared.

For a new generation of fans, anime is no longer just entertainment content. Characters, narratives and the values embedded within these works often serve as vehicles for emotional projection and identity formation. The relationship between fans and content has deepened — from passive consumption to meaningful cultural connection. This shift is also reshaping fan behaviour.

Sion Yip, Founder and CEO of INCUBASE Studio, observes: “Today’s anime fans are no longer satisfied with simply purchasing merchandise, taking photos or consuming content. They want immersive experiences — through exhibitions, events and interactive formats — that allow them to step into the worlds of these works and build deeper emotional connections with the characters and stories.”

From a global industry perspective, a clear trend is emerging: anime-related initiatives are gradually shifting from short-term activations to sustainable cultural platforms and experiential spaces. Fans increasingly seek not a one-time event, but a place they can revisit — where experiences can accumulate and evolve over time.

In Hong Kong, however, such dedicated cultural spaces have historically been limited. Anime-related activities have largely taken the form of one-off consumption experiences: short-term exhibitions, mall pop-ups or large-scale conventions. While effective in generating foot traffic and buzz, these events are inherently transient. Once they end, engagement fades, making it difficult to sustain long-term cultural relationships.

As Sion notes: “Hong Kong has long had a mature anime culture and a large fan base. Yet most local anime activities are tied to shopping malls or exhibition venues and operate on a temporary basis. Many fans have been looking for a dedicated space — whether to experience exhibitions, participate in events, discover merchandise, or simply connect with the culture.”

Against this backdrop, INCUBASE Studio established INCUBASE Arena in Hong Kong in 2024 as a dedicated anime cultural experience hub. By continuously introducing exhibitions, themed events and related experiences under one roof, INCUBASE Arena aims to create an environment where anime culture can thrive over time. This allows for deeper engagement between fans and content, moving beyond one-off consumption toward a sustained and growing community.

Sion Yip, Founder and CEO of INCUBASE Studio, at INCUBASE Arena, a dedicated hub for anime culture and fan experiences.
Sion Yip, Founder and CEO of INCUBASE Studio, at INCUBASE Arena, a dedicated hub for anime culture and fan experiences.

Such spaces can develop into cultural destinations within a city. For local audiences, they become regular spots to visit; for tourists, they serve as entry points to understanding the city’s anime culture.

Sion adds: “When anime culture is anchored in a representative physical space within a city, it becomes more than just a gathering point for fans — it also becomes a cultural attraction for visitors. In many cities, anime landmarks have gradually evolved into tourism destinations, integrating anime into the city’s cultural identity and travel experience.”

Fan culture across the globe increasingly emphasises experience, community and emotional connection. Beyond Hong Kong, INCUBASE Studio has established INCUBASE Arena locations in Kuala Lumpur and Taipei, with plans to expand into South Korea and Thailand, as well as further across Asia and into Western markets.

Anime is no longer just part of the content industry — it is becoming an emotional medium that connects fans, cities and culture. Its future development will depend not only on the creation of new works, but also on whether cities can provide spaces where this culture can be continuously experienced, shared, and sustained.

For more information:
www.incubasestudio.com

2026 Japan Photovoltaic Expo Wraps Up, BiLight Space Solar Technology Powers AI Applications with Full-Scene Commercial Solutions

TOKYO, March 19, 2026 /PRNewswire/ — The premier solar event, PV EXPO 2026, concluded today at Tokyo Big Sight. BILIGHT, a global leader in flexible perovskite technology, delivered a standout performance with its “AI-Powered” product series. By showcasing a comprehensive strategy that merges space-grade photovoltaics (PV) with intelligent applications, the company secured significant partnership agreements and established a new industry benchmark for smart perovskite deployment.

BILIGHT Perovskite Empowers AI, Ushering in a New Era of Full-Scene Commercialization
BILIGHT Perovskite Empowers AI, Ushering in a New Era of Full-Scene Commercialization

Space-to-Earth Synergy: “Solar Wing” Captures Global Industry Attention

Throughout the three-day exhibition, the BILIGHT booth attracted over a thousand visitors, including global merchants, media, and industry experts. The centerpiece was the global debut of the “Solar Wing”—a space-grade perovskite PV product that breaks the rigid and heavy limitations of traditional crystalline silicon.

The “Solar Wing” features real-time sun tracking and adaptive power regulation, ensuring stable and efficient power generation even in extreme environments, such as high-altitude platforms or irregular urban structures. Its ultra-thin, flexible design allows it to adapt seamlessly to complex surfaces, positioning it as an ideal energy solution for the AI era.

Smart Scenarios: Flexible PV Curtains Powering Modern Life BILIGHT also demonstrated its commitment to civil applications with its flexible rollable PV curtains. This innovation integrates high-performance perovskite cells with AI-driven smart home systems. Beyond shading and insulation, the curtains autonomously convert solar energy into electricity to power smart devices and AI terminals directly. This “plug-and-play” solution sparked intensive discussions with architectural developers and AI hardware manufacturers regarding the commercialization of “PV + AI” in residential settings.

Accelerating the Vision: Capital and Industry Recognition

The company’s technical prowess and AI-centric ecosystem earned strong validation from international investors. Analysts noted that BILIGHT’s ability to bridge space technology with civil distribution addresses the core pain points of perovskite commercialization.

As the expo concludes, BILIGHT is accelerating its mission to “Power AI” with clean energy. Through continuous innovation, the company aims to make sustainable power more intelligent and accessible, ensuring it serves as the foundational drive for the intelligent era across all scenarios.