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Appier Acquires AdCreative.ai in Strategic Move to Lead Generative AI-Powered Advertising and Marketing Innovation

TAIPEI, Feb. 12, 2025 /PRNewswire/ — Appier (TSE: 4180), the AI-powered SaaS leader in Advertising Technology (AdTech) and Marketing Technology (MarTech), has announced the acquisition of AdCreative.ai, a Paris-based innovator in Generative AI-driven creative creation and optimization, for a total of 38.7 million USD, including a 27.3 million USD base. Announced on February 12, this acquisition marks Appier’s fifth major acquisition since its first in 2018. The move is set to accelerate Appier’s Generative AI product portfolio, expand its business footprint, and reshape the future of digital advertising and marketing.

Appier acquires France-based AdCreative.ai for $38.7 million(including a $27.3 million base), accelerating Generative AI-driven advertising and marketing innovation. Left: Chih-Han Yu, CEO of Appier; Right: Alexandre Leciel, CEO of AdCreative.ai.
Appier acquires France-based AdCreative.ai for $38.7 million(including a $27.3 million base), accelerating Generative AI-driven advertising and marketing innovation. Left: Chih-Han Yu, CEO of Appier; Right: Alexandre Leciel, CEO of AdCreative.ai.

“As we scale aggressively on a global level, this acquisition strengthens our product portfolio, accelerates our Generative AI advancements, and reinforces our data moat. It also expands our market reach and enhances overall gross margins,” said Chih-Han Yu, CEO and Co-founder of Appier. “With Appier’s leadership in APAC and rapid market penetration in the US, combined with AdCreative.ai’s strategic market position in Europe, we believe this acquisition will further complete our AI map, driving the growth of Appier’s ROI-driven AI marketing solutions across global markets.”

With this move, Appier strengthens its ability to deliver cutting-edge Generative AI-powered solutions, providing businesses with enhanced performance and cost efficiencies across the entire advertising lifecycle — from creative generation to performance optimization. The acquisition reinforces Appier’s first-mover advantage in the market and empowers its clients to unlock new growth opportunities in AI-driven advertising and marketing, particularly in dynamic sectors like eCommerce, gaming, and consumer goods.

“Joining forces with Appier, a company with over a decade of expertise in AI and advertising, is a thrilling milestone for AdCreative.ai. Their proven track record and innovation in AI-driven marketing align perfectly with our mission to redefine ad creative efficiency and performance,” said Alexandre Leciel, CEO of AdCreative.ai.

As a global AI company, this acquisition also brings valuable talent to Appier and drives innovation across the organization.

Prior to AdCreative.ai (2025), Appier’s strategic acquisitions — QGraph (2018, India), Emotion Intelligence (2019, Japan), BotBonnie (2021, Taiwan), and Woopra (2022, USA) — have played a key role in strengthening its full-funnel solutions and expanding its capabilities in AI-driven advertising and marketing technology for growth.

Transaction Details: The transaction is expected to close on March 4, with no material impact on Appier’s consolidated financial results for FY24.

【About Appier】

Appier is a global AI-native SaaS company that empowers businesses to create value with cutting-edge AdTech and MarTech solutions. Guided by the vision of “Making AI Easy by Making Software Intelligent,” our mission is to help businesses turn AI into ROI.

Founded in 2012, Appier is listed on the Tokyo Stock Exchange’s Prime Market (Ticker: 4180) and operates in 17+ cities worldwide, enabling over 1,800 leading companies to enhance marketing performance with the latest AI technology. As AI enablers for our customers in the AI Era, Appier delivers innovative solutions that drive measurable results.

Appier’s innovative offering spans three main areas: Ad Cloud, Personalization Cloud, and Data Cloud. Each cloud serves as a pillar for Appier, featuring core and supporting products powered by Appier’s advanced AI technology, including generative AI (GenAI).

【About AdCreative.ai】

AdCreative.ai, based in Paris, France, is a leading AI-driven platform revolutionizing how businesses create advertising and marketing assets. By combining proprietary AI models, advanced technology, and a user-centric approach, AdCreative.ai empowers brands to generate high-performing ad creatives that deliver measurable ROI.

Founded in 2021 and trusted by global brands like Snapchat, Pernod Ricard, Reckitt, BNP Paribas and Chopard, the platform merges cutting-edge AI technology with advertising expertise to shape the industry’s future, making campaigns faster, smarter, and more impactful. As a trusted partner in the AI era, AdCreative.ai offers innovative tools like Creative Insights, AI Video Ad Generation, and Stock Image Creation, enabling businesses to scale with precision and achieve creative excellence in their campaigns.

Capture.HK is Commissioned by Actor Kwok Fung to Restore his 30 Years of Family Memories Ahead of Valentine’s Day

Customers digitalise memories with their spouses enjoy 20% off Valentine’s Day offer


HONG KONG SAR – Media OutReach Newswire – 12 February 2025CaptureTM Hong Kong, a leading analogue media digitisation provider, has been commissioned by actor Kwok Fung to restore his memories with his family, friends and fellow artists in his 30 years of career.

Born in 1951, Kwok Fung is a revered actor with a career spanning television and cinema. As a graduate of TVB’s first artist training program in 1971, Kwok gained widespread acclaim for his roles in classics such as A Step Into the Past (2001), Can’t Buy Me Love (2010), and The Fearless Duo (1984). His versatility and dedication have cemented his legacy as a beloved icon in Hong Kong. With Kwok’s memories spread over diversified formats of media such as photo albums, photographs, negatives, videotapes, slides, and film reels, comprehensive expertise in handling various types of analogue media is essential to accomplish the mission.

“In addition to my actor career that brought joyful experiences with audiences, memories with my family are one of the most valuable parts of my life,” said Kwok Fung. “Thanks to Capture HK, photos and videos taken decades ago with my family, especially those with my wife, were restored, enhanced, and preserved properly in digital formats. I can now revisit those memories at a better quality easily like those moments just happened last year.”

The partnership with Kwok Fung and Watt Asia, a premier Hong Kong advertising and media company, is a testament to the commitment to preserving Hong Kong’s cultural heritage and family legacies. “Humour is the best way to connect with audiences,” said Kwong Tang, Marketing Director of Watt Asia. “Capture.HK provides a service that every Hong Kong household needs to be aware of. We’re proud of our creative approach in making this campaign both entertaining and educational.”

“At Capture.HK, we believe digitisation helps to preserve people’s memories forever, keeping them as fresh as the moment they were experienced and safe from fading and wear, added Jason Law, Chief Product Officer of Capture.HK. “Partnering with Watt Asia and Mr. Kwok, we would like to encourage everyone in Hong Kong to rediscover their youth and preserve their legacy. Through digitisation, family stories could be passed down for generations.

Valentine’s Day Offering: 20% off for Digitising Memories with Spouses

Ahead of Valentine’s Day, Capture.HK invites everyone in Hong Kong to take the first step in safeguarding moments with their spouses like Kwok Fung. Customers digitising their cherished memories with their partners in February would enjoy a 20% discount regardless of media type – no matter whether photo albums, photos, videotapes or negative films.

Don’t miss this chance to preserve your love story— digitise now!
Hashtag: #Capture.HK

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

About Capture.HK

Capture.HK is the leading analogue media digitisation service provider in Hong Kong. We digitise analogue media (photo albums, photographs, videotapes, digital media like USB Flash Drive, Compact Flash, DVD, etc) and slides, using our proprietary technology. Capture.HK is the only service that saves memories directly to Google Photos through secure Google authentication. In the USA, we have cooperated with Fujifilm, Google and retail giants like Walmart and Costco, to help more than 12 million families and organisations to safeguard their memories.

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About Watt

WATT (We Are The Trend) is a marketing solutions agency driven by a team of passionate and dedicated professionals. With a focus on creativity and innovation, WATT specialises in crafting impactful and engaging campaigns that leave a lasting impression. Whether it’s through digital media, branding, or integrated marketing strategies, WATT is committed to delivering fun, memorable, and trendsetting solutions that resonate with audiences and elevate brands.

A Bigger, Bolder, Better D’Marquee

Introducing the newly-built, gold-standard, solar-powered D’Marquee, primed to host more large-scaled events.

SINGAPORE, Feb. 12, 2025 /PRNewswire/ — Following a year in construction, NTUC Club’s all-new D’Marquee events venue makes its debut at Downtown East this month. Originally opened in 2003, the former dome-shaped D’Marquee carved out its place as a go-to-spot for mid and large-scale events in Singapore, becoming a cornerstone of Downtown East’s vibrant scene. In the last two decades, it has played host to more than 3,000 events, from family favorites such as The Powerpuff Girls’ Big Day and Sesame Street Live to landmark gatherings like the May Day Rally. For union members and guests, it became more than a venue – it was a stage for unforgettable moments.


The concept for D’Marquee 2.0 took shape in 2022, with a vision to reimagine the space. In November 2023, it marked the end of an era, hosting the final event before construction commenced in January 2024. Today, its design speaks to the demands of the modern events landscape, ensuring it remains an epicenter of the resort-style Downtown East’s dynamic mix of F&B, retail, leisure, and hospitality.

Emerging with a fresh identity, its contemporary, multi-purpose facility is crowned by a corrugated steel facade inspired by shipping containers. Designed by the award-winning Freight Architects LLP, the venue is a bold, industrial nod to modernity, a striking contrast to its previous dome-shaped profile.

Multi-Purpose Space

The result is an impressive pillar-less, open-concept interior of 2,400 square-meters (roughly the size of six basketball courts) with an 8-m ceiling height, representing a 40 percent increase in floor capacity. D’Marquee 2.0 is expected to host at least 30 large-scale events annually.

Its collaboration with technical production firm ExpoAV spares no detail, equipping the space with customisable features for everything from concerts and team-building sessions to weddings and sporting events. High-definition audio, soundproofed interiors, and echo-absorbing ceilings deliver impeccable sound, while cinematic LED lighting elevates the overall atmosphere.

The standalone structure now features a new suite of fully integrated back-of-house facilities, including a VIP lounge with ensuite bathroom, storage and operations spaces, as well as a nursing room, changing rooms, and accessible restrooms. D’Marquee can now host up to 2,200 guests in theatre-style seating, an expansion from 1,400. It also caters to an upgraded banquet setup with room for 132 banquet tables, up from 70, and can hold up to 2,278 attendees for arena-style concerts, representing a notable 60 per cent increase in overall capacity.

Strategic Platform for UPlay

D’Marquee pairs itself as the strategic venue for UPlay, NTUC Club’s latest corporate concierge service for all social and recreational needs. This is where companies can easily plan tailored events or choose from a wide range of curated lifestyle experiences or team-building programmes on UPlay for their employees to foster deeper engagement.

Mr Lim Eng Lee, Chief Executive Officer of NTUC Club, says: “The new D’Marquee is part of our ongoing evolution to refresh our facilities in Downtown East. The upgraded venue will be another platform for our UPlay ecosystem, hosting mega events such as consumer shows, corporate events and concerts. It would help to bolster even higher footfall in Downtown East. By creating a seamless synergy between event spaces, leisure facilities, and hospitality, we hope to create an even more vibrant hub that resonates with our members and guests.”

Go Green

Come April, D’Marquee will be fitted with a solar-panel feature on its roof to enhance energy efficiency. The solar project is a key element of NTUC Club’s “Go-Green” initiatives, reflecting its commitment to supporting Singapore’s renewable energy goals. D’Marquee 2.0 is NTUC Club’s third green roof project at Downtown East, following the second installation at E!Hub mall in 2023, and the first one on the roof spaces of E!Avenue mall and D’Resort in 2022.

The transformation ushers in a new era for NTUC Club as we redefine D’Marquee as a premier destination for diverse events while championing energy-efficient solutions and shaping the future of work and play spaces.

Read more here, and hi-res visuals can be downloaded here.

As demand for on-premises computing rises, Spingence partners with Japanese AI startup FSR to support the digital transformation of Japanese industries

TAIPEI, Feb. 12, 2025 /PRNewswire/ — Spingence, a Taiwan-based artificial intelligence startup, has announced a strategic alliance with ForceSteed Robotics (FSR) to promote the adoption of on-premises large language models (LLMs) in Japan and develop solutions that prioritize privacy protection, data security, and high-performance computing. FSR, a Japan-based startup specializing in artificial consciousness (AC), will represent Spingence in Japan, the two companies will establish a long-term partnership in sales and technology development, aiming to address the key challenges Japanese companies face in AI adoption. The alliance marks an important milestone for Spingence’s entry into the Japanese AI market.

Strategic collaboration launched: Meeting the demands of AI in the Japanese market

Research shows that demand for AI applications in the Japanese market is rising, particularly for LLMs, which have become a key technology for businesses across multiple sectors. As cloud-based services, which rely on the internet, struggle with data privacy and system stability, many companies are now turning to on-premises solutions.

“For businesses, Spingence’s on-premises LLM services are just as effective as cloud-based solutions, offering high privacy and security while maintaining strong performance,” said Hiroyuki OHSAWA, FSR’s founder and CEO. “By optimizing SSDs with DRAM, Spingence has developed a cost-effective solution to addressing memory limitations during large-scale AI model training, ensuring platform and application stability. We believe that on-premises services based on this technology will confer considerable benefits in the future.”

Furthermore, Spingence’s past success in the Taiwanese market serves as a strong foundation for expanding its business in Japan. The firm’s expertise in AI defect detection and edge AI will make its products highly competitive in the Japanese market.

Facing existing competitors in the Japanese market, OHSAWA believes that Spingence’s products hold advantages in price, maintenance efficiency, and server performance. “The emergence of local competitors in Japan indicates a sharp rise in demand for on-premises servers recently,” OHSAWA said.

Spingence and FSR have seen an opportunity to help small and medium-sized companies that struggle to find AI solutions tailored to their needs. Many solutions in the market now are expensive, come with high maintenance costs, and are typically designed for larger companies. Some solutions often fall short in terms of server performance and specifications. This leaves a gap in the market for comprehensive solutions that can address the unique challenges facing small and medium-sized enterprises.

Working together: Driving digital transformation in the Japanese market

This collaboration was initiated after Spingence gained valuable market insights at CEATEC 2024. “Japanese companies have been actively developing LLM applications and exploring various solutions, most of which rely on cloud technology,” said Jesse Chen, founder and CEO of Spingence. “The market potential of on-premises LLMs became clear as the companies identified the limitations of cloud services.” OHSAWA shared the same observation, and the mutual understanding quickly led to the formation of the partnership.

In the early stages of the collaboration, Chen said the focus would be on product-market validation to ensure that Spingence’s existing edge AI solutions meet market demands. “Based on current research and observations, it’s clear that Taiwan and Japan are in vastly different stages of development and application,” he said. “To succeed in both markets, Spingence needs to be more flexible and constantly validate market assumptions. This requires close collaboration with FSR.”

Spingence and FSR agree that on-premises LLMs have significant growth potential in the Japanese market. To ensure the effective implementation of the technology and support the digital transformation of Japanese industries, the short-term goals for the two companies include market promotion, customer education, and application case validation.

Looking ahead: Achieving technological co-creation and promoting localized product applications

In the next three to five years, Spingence and FSR will continue to promote the application of on-premises LLMs in the Japanese market and explore possibilities for product implementation through technological integration.

FSR will first focus on expanding enterprise applications, offering reasonably priced and highly secure products for companies in specialized fields. Based on experience, OHSAWA pointed out, “Whether it’s schools, factories, or other verticals, there’s skepticism about cloud computing, which has significantly increased the demand for edge AI.”

In the short term, FSR plans to strengthen local technical support and provide superior customer service. Spingence will focus on enhancing the localization of its LLM platform. By optimizing application and management tools, the company aims to provide more intuitive interfaces, customizable configuration options, and seamless integration features, all tailored to the needs of Japanese businesses, thus improving the convenience and efficiency of enterprise applications.

Technical integration is another key aspect of the collaboration. FSR will represent Spingence in Japan and act as a partner in co-creating technology, driving the deep integration of edge AI and AI technologies to develop smarter and more efficient applications.

The collaboration between Spingence and FSR represents the joint efforts of Taiwanese and Japanese AI startups to create new opportunities. Through the synergy of cutting-edge technology and market expertise, Spingence and FSR are committed to driving AI-powered digital transformation, setting new standards for on-premises AI solutions in Japan.

Media Contact
Spingence / Xenia Huang / xenia.huang@spingence.com
Forcesteed Robotics / contact@forcesteed.com

Aduna secures KDDI as equity partner in groundbreaking API venture

  • Expands with a major telecommunications operator in Japan – joining forces to redefine the industry.

STOCKHOLM, Feb. 12, 2025 /PRNewswire/ — Aduna, a landmark venture between some of the world’s leading telecom operators and Ericsson (NASDAQ: ERIC), today announced the addition of KDDI Corporation as an equity partner.

Recognized as a global leader in telecommunications, KDDI will further strengthen Aduna’s vision of accelerating the adoption and innovation of common network Application Programming Interfaces (APIs) by developers on a global scale.

Aduna partners include América Móvil, AT&T, Bharti Airtel, Deutsche Telekom, Orange, Reliance Jio, Singtel, Telefonica, Telstra, T-Mobile, Verizon, Vodafone and Ericsson to spur innovation in digital services.

As an innovator in telecommunications and digital infrastructure, KDDI will collaborate by sharing expertise and resources, including technical skills and marketing, to enhance Aduna’s scope and impact, bolstering the venture’s goal to create open, non-discriminatory access to advanced network capabilities.

Kazuyuki Yoshimura, CTO, KDDI, says: “As a pioneer in telecommunications, KDDI is proud to take part in opening the network to exciting new possibilities. By joining Aduna, we’re enabling broader access to advanced network capabilities through APIs, empowering developer platforms to drive innovation on a global scale. Each new network integrated into this unified platform helps create an ecosystem where advanced applications can flourish, bringing seamless connectivity and enhanced services to more businesses and consumers than ever before.”

Anthony Bartolo, CEO, Aduna, says: “The addition of KDDI underscores Aduna’s commitment to reshaping the telecom industry through the power of network APIs. By partnering with KDDI, a global leader with a strong legacy of innovation, we are setting the stage for a new era of possibilities for developers, businesses, and consumers. With the new and more advanced applications that can be built with network APIs, Aduna will unlock new revenue opportunities, transform business operations, and enhance customer experiences with innovative solutions that are truly differentiating.”

The inclusion of KDDI highlights Aduna’s industry-wide appeal and the joint potential of maximizing revenue opportunities while improving the developer experience.

Aduna was launched in September 2024 to simplify global access to network APIs. The transaction is expected to close later this year, subject to regulatory approvals and other customary conditions.

To find out more about network APIs and Aduna, visit adunaglobal.com. To learn more about KDDI, visit kddi.com.

About Aduna

Aduna is a landmark venture between some of the world’s leading telecom operators and Ericsson, dedicated to enabling developers worldwide to accelerate innovation by leveraging networks to their full potential via common network Application Programming Interfaces (APIs). Its partners include: América Móvil, AT&T, Bharti Airtel, Deutsche Telekom, KDDI, Orange, Reliance Jio, Singtel, Telefonica, Telstra, T-Mobile, Verizon and Vodafone. By combining network APIs from multiple operators globally under a unified platform based on the CAMARA open-source project, driven by the GSMA and the Linux Foundation, Aduna provides a standardized platform to foster collaboration, enhance user experiences, and drive industry growth.

About KDDI

KDDI is a telecommunication service provider in Japan, offering multitude of services to individual customers through its “au”, “UQ mobile” and “povo” brands, and to corporate customers through its “KDDI BUISNESS” brand. In May 2022, KDDI had stated “KDDI VISION 2030: The creation of a society in which anyone can make their dreams a reality, by enhancing the power to connect”. Under this vision, KDDI is promoting its business strategy in the Mid-Term Management Strategy (FY2022-FY2025), defined as the “Satellite Growth Strategy”. With a focus on 5G communications, data-driven practices, and generative AI, KDDI will accelerate business growth by providing value-added services in the growth areas of DX, finance, energy, and life transformation (LX) which encompasses five areas of future growth (Mobility, Sports/Entertainment, Web3/Metaverse, Healthcare, and Space). Placing “sustainability management” at the core, KDDI will aim to achieve the sustainable growth of society and the enhancement of corporate value together with our partners, by harnessing the “Satellite Growth Strategy” and strengthening the management base.

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Etiqa Insurance Singapore Spreads Festive Cheer with ‘Multiply Blessings’ this Chinese New Year


SINGAPORE – Media OutReach Newswire – 12 February 2025 – Chinese New Year is a time for togetherness, celebration, and sharing joy. Yet, amidst back-to-back gatherings and increased seasonal spending, the festivities can sometimes feel exciting and a little overwhelming1.

Embracing the spirit of giving, Etiqa Insurance Singapore partnered with independent creative agency Blak Labs, to spread extra blessings to the community through its Multiply Blessings With You brand activation.

From January 22 to February 5, Etiqa’s very own ‘God of Fortune’ made surprise appearances at food centers across the island, delighting diners and hawker stall owners with festive red packets, mandarin oranges, and even complimentary meals! The heartwarming initiative brought smiles to many, reinforcing the spirit of generosity and togetherness.

Check out the exciting videos here:

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The event received enthusiastic responses in person and online, with engaging social media content amplifying the excitement and building anticipation for each God of Fortune appearance.

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View more content on Etiqa’s Instagram page (www.instagram.com/etiqasg/).

“At Etiqa, we believe that prosperity goes beyond financial security – it is about fostering meaningful connections, uplifting communities, and sharing joy. Through ‘Multiply Blessings With You’, we wanted to rekindle the true spirit of Chinese New Year by reminding everyone that the greatest blessings come from kindness, generosity, and togetherness.” – Carine Chin, Head of Corporate Marketing, Etiqa Insurance Singapore

Echoing this sentiment, Koh Hwee Peng, Creative Partner at Blak Labs, shared, “It’s been a pleasure working with Etiqa to bring this campaign to life. Their ‘With You’ spirit this festive season truly shines, spreading smiles and good fortune throughout the community.”

1Heng, T. (2025, January 30). Commentary: Chinese New Year is exhausting, but here’s why we keep celebrating it. CNA.
Hashtag: #EtiqaInsurance

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

About Etiqa Insurance Pte. Ltd. (Etiqa Insurance Singapore)

Etiqa Insurance Pte. Ltd. (EIPL) is a life and general insurance company licensed and regulated by the Monetary Authority of Singapore and governed by the Insurance Act 1966. Having protected customers in Singapore since 1961 under the name United General Insurance Co. Sdn. Bhd., the company transitioned into the Singapore branch of Etiqa Insurance Berhad in 2009. Today, EIPL in Singapore stands as the pivotal operating entity of Etiqa Insurance Group, a leading insurance and takaful provider in ASEAN.

EIPL offers a comprehensive range of life and general insurance products accessible through its diverse distribution channels, including bancassurance, agents, brokers, financial advisers, partnerships, direct and online sales via Tiq by Etiqa. Etiqa is rated ‘A’ by credit rating agency Fitch for the group’s ‘Favorable’ business profile. EIPL is owned by Maybank Ageas Holdings Berhad, a joint venture combining local market expertise with international insurance knowledge, with 69% ownership by Maybank, the fourth largest banking group in Southeast Asia, and 31% by Ageas, an international insurance group operating across 13 countries.

About Blak Labs

Established in 2010, by five of Singapore’s leading creatives, Blak Labs is a 100% independent creative agency with one purpose. To deliver the best ideas on the feed and beyond; to get people liking, loving, sharing and buying brands. We work directly with you to create campaigns and content built on strategically sound creative thinking. That’s why every Blak Labs idea is delivered with Creative Care™. Since 2019, Blak Labs has added integrated media planning and buying to the creative mix through its sister agency, Instamedia Labs. Blak Labs is part of The Network, an independent global network of the most creative and future-facing agencies.

To ensure the safe and reliable electricity supply during the Lantern Festival, State Grid Ningxia Electric Power Co., Ltd. Guyuan Branch has implemented comprehensive measures to safeguard power stability

GUYUAN, China, Feb. 12, 2025 /PRNewswire/ — As the festival approaches, the city is adorned with festive lights, creating a joyful and harmonious atmosphere. To support various folk activities during the Lantern Festival, the company has meticulously prepared an “electricity protection” plan, focusing on key lines and critical areas to ensure the smooth operation of all events.

With the arrival of the New Year, various counties and towns in Guyuan City have organized diverse cultural activities, including Shehuo parades, New Year music festivals, Lantern Festival galas, lantern exhibitions, riddle guessing, and opera performances. In anticipation of these events, State Grid Ningxia Electric Power Co., Ltd. Guyuan Branch mapped out the timing and locations of the city’s cultural activities, developed detailed electricity protection plans, and identified core venues, critical equipment, and important loads. The company also prepared emergency repair teams, vehicles, and spare parts. Inspection personnel conducted infrared measurements and inspections of distribution lines and public transformers at key activity sites such as People’s Square, Museum Square, Ningxia Normal University, and Longde Old Alley, ensuring the city’s lights remained illuminated.

On the day of the Lantern Festival, Guyuan deployed 50 emergency repair personnel and 8 emergency power generation vehicles to conduct thorough inspections and monitoring of 15 10 kV distribution lines and equipment across 10 key areas. The company actively coordinated with event organizers, completed the power supply ignition for each venue, inspected locally hung lanterns and installed sound systems, and ensured the safety of electricity consumption in snack streets and Lantern Festival venues. Every effort was made to guarantee uninterrupted power supply services throughout the festival.

F88 reports 2024 profit of VND351 billion, revenue jumps 23%


HANOI, VIETNAM – Media OutReach Newswire – 12 February 2025 – F88 Investment Joint Stock Company (F88) has just announced its highest-ever consolidated after-tax profit, along with several key financial indicators that highlight the company’s rapid and sustainable recovery, following a challenging year.

F88 posts highest-ever consolidated after-tax profit in 2024. Photo courtesy of the firm.
F88 posts highest-ever consolidated after-tax profit in 2024. Photo courtesy of the firm.

F88, which owns 99.99 per cent of F88 Business Joint Stock Company – a leading player in Viet Nam’s alternative finance sector. This sector, which includes non-traditional lending activities, now accounts for 88.1 per cent of F88’s total revenue. Additionally, F88 holds controlling stakes in the Green House Insurance Joint Stock Company and the Ffintech Joint Stock Company.

In its latest report to investors, F88 revealed that its after-tax profit for the fourth quarter reached VND163 billion, bringing the total after-tax profit for 2024 to VND351 billion. This impressive profit growth is attributed to a surge in net revenue and the ongoing success of F88’s cost optimisation strategy.

Total revenue for 2024 stood at VND3.347 trillion, up by over 23.2 per cent compared to 2023.

The majority of this revenue – 88.1 per cent – came from asset-backed lending, primarily through motorbike and car registration-backed loans. The insurance business contributed 11.8 per cent to the overall revenue. Despite the revenue boost, F88 managed to reduce its cost income ratio (CIR) by 12.6 per cent compared to the previous year, a clear sign of enhanced operational efficiency.

F88’s total loan balance by the end of 2024 reached over VND4.58 trillion, with total disbursements hitting VND12 trillion, representing growth of 22.7 per cent and 8.5 per cent, respectively, compared to 2023. Significantly, the company reduced its net write off ratio by two-thirds, reflecting the reduction of non-performing loans.

The company also demonstrated impressive capital mobilisation, raising VND633 billion in Q4 2024 alone. F88 met 100 per cent of its obligations and commitments to investors, and its debt to equity ratio (D/E) remained below three – a level considered safe by Finn Ratings in comparison to industry averages.

Beyond financial metrics, F88’s announcement highlighted its focus on sustainable growth. A key area of success has been the expansion of its alternative finance store network, which has broadened financial access for a large customer base, particularly those who do not qualify for traditional bank loans. In Q4 2024 alone, F88 opened 39 new stores, bringing its total to 868, solidifying its position as the owner of Viet Nam’s largest state-licensed alternative finance store chain.

F88 has also placed a strong emphasis on customer service, with the company’s Customer Satisfaction Score (CSTA) for Q4 2024 reaching 87 per cent. The rate of returning customers stood at 53.6 per cent, further evidence that F88 is successfully building customer loyalty.

These achievements are the result of ongoing efforts to improve product quality, diversify financial offerings based on customer research, accelerate digital transformation, and form strategic partnerships with major players in the financial sector, such as Military Bank. Additionally, F88 has refined its debt reminder processes and customer experience initiatives.

Looking ahead to 2025, F88 plans to expand its network to 888 financial stores by the first quarter and aims for 100 per cent of stores to be profitable by the second quarter. The company will also enhance collaborations with nationwide distributors to offer motorbike and car registration-backed loans, along with other financial products, to customers across all villages and communes in Viet Nam.

Hashtag: #F88

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