Home Blog Page 949

Iridium Launches Next Generation IoT Platform

By
Advertorial Desk
-

 Smaller, purpose-built, and designed for scale, the new Iridium 9604 unifies satellite, cellular, and GNSS in a single platform engineered for global IoT

MCLEAN, Va., Feb. 24, 2026 /PRNewswire/ — Iridium Communications Inc. (Nasdaq: IRDM), a leading provider of global voice, data, and positioning, navigation, and timing (PNT) satellite services, today unveiled the Iridium 9604, a compact, three-in-one IoT module that integrates Iridium Short Burst Data® (SBD®) satellite service, LTE-M cellular connectivity, and GNSS positioning into a single platform. By combining these features in one device, the Iridium 9604 reduces solution complexity, lowers costs, and accelerates time to market, making dual-mode IoT connectivity viable for price-sensitive, high-volume deployments.

The Iridium 9604 three-in-one module. Quarter and module to scale.
The Iridium 9604 three-in-one module. Quarter and module to scale.

“By integrating cellular, GNSS, and Iridium satellite into a single, power-efficient module, we’re giving customers the flexibility to design and deploy lower cost, smaller, power-efficient, and location-aware solutions without the burden of integrating multiple components,” said Tim Last, executive vice president, Iridium. “With our best-in-class proprietary satellite IoT service and upcoming standards-based NB-IoT service debuting this year, anyone thinking about IoT beyond terrestrial networks is thinking about Iridium first.”

The Iridium 9604 beta program, which launched earlier this year and was oversubscribed by a select group of companies, has generated positive industry feedback highlighting:

  • Lower costs, simplified design, and enabling of location-aware network selection
  • Savings of 60 percent or more in board space with the 3-in-1 module, Iridium’s smallest-ever form factor
  • Easy to use developer resources

“As an early Iridium 9604 developer, utilizing the three-in-one module has already fundamentally changed our product economics,” said Alastair MacLeod, CEO, Ground Control. “We eliminated two components from our bill of materials, reduced our board size, and simplified our power architecture.”

MacLeod continued, “Additionally, having dual mode connectivity options enables a smarter, location-aware network selection in our application. The Iridium 9604 turned what would have been a complex multi-component design into a single-module solution. This is a major breakthrough for our IoT solutions.”

“Our customers require essential data and real-time intelligence to operate with confidence anywhere in the world,” said Dean Welten, CEO, Everlink. “By integrating the Iridium 9604 with our secure cloud platform, we can now enable global connectivity, greater operational efficiency, and measurable impact at scale.”

Representing the next phase of Iridium’s IoT strategy, the Iridium 9604 is moving the company beyond traditional satellite-only modules to a unified, multi-mode connectivity architecture. The Iridium network now offers customers three IoT service paths to follow:

  • Iridium SBD packaged with cellular and GNSS in the Iridium 9604 or SBD/Iridium Burst dedicated modules
  • Iridium NTN Direct for standards-based direct-to-device using third-party chips
  • Iridium Messaging Transport-based (IMT®) for industrial-scale, larger payload capabilities with the Iridium Certus 9704

The Iridium 9604, built on the u-blox SARA-R5 platform, delivers a compact 16 mm x 26 mm x 2.4 mm form factor, best for dual-mode IoT deployments previously cost-prohibitive across industrial, infrastructure, and mobility applications.

Commercial availability begins in June 2026 with the Iridium 9604 Development Kit made available for testing satellite and cellular services. Reserve priority access today: www.iridium.com/9604

For more information about Iridium, visit: www.iridium.com

About Iridium Communications Inc.

Iridium Communications Inc. (Nasdaq: IRDM) operates the world’s only truly global mobile satellite network, delivering reliable voice, data, and positioning, navigation and timing (PNT) services anywhere on Earth. Iridium supports safety- and mission-critical operations for diverse markets such as aviation, maritime, government, emergency services, critical infrastructure, autonomous systems, and remote monitoring applications, where connectivity is essential.

Headquartered in McLean, Virginia, Iridium provides its products and services through an ecosystem of 500-plus partner companies around the world. For more information, visit www.iridium.com.

Forward-Looking Statements Disclosure

Statements in this press release that are not purely historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The Company has based these statements on its current expectations and the information currently available to us. Forward-looking statements in this press release include statements regarding the capabilities, benefits and availability of the Iridium 9604, expected demand by developers and the suitability of the Iridium 9604 for dual-mode IoT deployments across industrial, infrastructure, and mobility applications. Forward-looking statements can be identified by the words “anticipates,” “may,” “can,” “believes,” “expects,” “projects,” “intends,” “likely,” “will,” “to be” and other expressions that are predictions or indicate future events, trends or prospects. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Iridium to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties regarding the timing of commercial availability of the Iridium 9604, the company’s ability to maintain the health, capacity and content of its satellite constellation, as well as general industry and economic conditions, and competitive, legal, governmental and technological factors. Other factors that could cause actual results to differ materially from those indicated by the forward-looking statements include those factors listed under the caption “Risk Factors” in the Company’s Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (the “SEC”) on February 12, 2026, as well as other filings Iridium makes with the SEC from time to time. There is no assurance that Iridium’s expectations will be realized. If one or more of these risks or uncertainties materialize, or if Iridium’s underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Iridium’s forward-looking statements speak only as of the date of this press release, and Iridium undertakes no obligation to update forward-looking statements.

Press Contact:     

Investor Contact:

Jordan Hassin     

Kenneth Levy

Iridium Communications Inc.                                   

Iridium Communications Inc.

Jordan.Hassin@Iridium.com     

Ken.Levy@Iridium.com

+1 (703) 287-7421     

+1 (703) 287-7570

X: @Iridiumcomm

 

 

New research shows top OEMs cut downtime recovery by 40%, strengthening profitability through resilience-first strategies

By
Advertorial Desk
-

Findings reveal how leading machine builders strengthen recovery, consistency and customer outcomes

MILWAUKEE, Feb. 24, 2026 /PRNewswire/ — Rockwell Automation (NYSE: ROK), the world’s largest company dedicated to industrial automation and digital transformation, today released new global research that highlights how leading machine builders are strengthening performance, resilience and customer trust amid increasingly complex operating conditions.  


Titled, the OEM Advantage Playbook, the research is based on insights gained from 500 OEM leaders across 17 countries. It highlights that while OEMs continue to navigate workforce instability, supply chain volatility, cost pressure and rising customer expectations, many are adapting how they operate to perform more consistently when conditions are less predictable. Rather than relying solely on machine performance, leading OEMs are focusing on faster recovery, operational consistency and decision-making grounded in data.

“The next era of OEM leadership won’t be defined by who builds the most advanced machine,” said Evan Kaiser, vice president, global OEM and emerging industries at Rockwell Automation. “It will be defined by who builds a business that delivers consistent performance despite workforce turnover, supply disruptions and relentless market pressure.”

Key Findings from the Research:

  • Rapid Recovery Is the New Profitability Lever – With average outages lasting 40 hours and costing $3.6 million, leading OEMs enable their customers to recover in 24 hours or less. These organizations design machines to detect issues early and restore performance quickly, helping to protect revenue and customer confidence.
  • Workforce Instability Is Now Permanent, and Winners Design For It – With turnover reaching 47 percent in some regions, leading OEMs embed expertise into machines and workflows to reduce dependence on individual experience while enabling faster onboarding and consistent performance.
  • Performance Measurement Is Evolving – High-performing OEMs prioritize profitability and customer outcome metrics – cost of goods sold, lead times, downtime recovery – alongside traditional production yield and emerging people-centered measures like safety and satisfaction.
  • Technology Is Being Applied With Greater Intent – Top performers adopt digital twins, AMRs and cobots strategically to design quality into machines and improve deployment consistency, applying field insights to inform future designs rather than solving isolated problems.
  • Compliance and Cybersecurity Are Becoming Differentiators – Leading OEMs integrate cybersecurity into product design from the outset, treating security with the same discipline as safety to support market access, reduce delays and build customer trust.

To learn more, the full findings of the OEM Advantage Playbook can be found here.

About Rockwell Automation

Rockwell Automation, Inc. (NYSE: ROK), is a global leader in industrial automation and digital transformation. We connect the imaginations of people with the potential of technology to expand what is humanly possible, making the world more productive and more sustainable. Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs approximately 26,000 problem solvers dedicated to our customers in more than 100 countries as of fiscal year end 2025. To learn more about how we are bringing Connected Enterprise to life across industrial enterprises, visit www.rockwellautomation.com.

 

Recurrent Energy Completes Sale of 200 MWh Battery Storage Facility to Hunt Energy Network in Texas

By
Advertorial Desk
-

The transaction supports Recurrent Energy’s strategy to selectively monetize projects to advance its continued growth.

KITCHENER, ON, Feb. 24, 2026 /PRNewswire/ — Recurrent Energy, a subsidiary of Canadian Solar Inc. (“Canadian Solar”) (NASDAQ: CSIQ), and a leading global developer, owner, and operator of solar and energy storage assets, announced today that it has completed the sale of its 200 MWh Fort Duncan Battery Storage facility to Hunt Energy Network, L.L.C. (“Hunt Energy Network”). Canadian Solar expects to recognize the revenue from the transaction in the first quarter of 2026.

Located in Maverick County, Texas, Fort Duncan Battery Storage reached commercial operation in June 2025. The company previously announced that it had secured $183 million in project financing and tax equity for the storage facility.

Fort Duncan Storage operates on a merchant basis and has established itself as a top-performing standalone battery energy storage system in the ERCOT South load zone, providing critical grid support and reliability services to the South Texas region. Fort Duncan Storage’s strong performance track record is backed by battery energy storage systems supplied by Canadian Solar’s e-STORAGE division.

Hunt Energy Network is an affiliate of one of the largest privately held energy companies in the United States with a large, international, and diversified presence. It started growing its battery storage portfolio four years ago and, with the purchase of Fort Duncan, now owns and operates 420 MW of battery storage facilities.

Pat Wood III, Executive Chairman of Hunt Energy Network, said, “We are fully committed to dramatically growing our presence within ERCOT, and this acquisition is a strong step towards achieving that goal. We appreciate the collaboration with Recurrent on this transaction, and we look forward to operating this asset for many years.”

Ismael Guerrero, CEO of Recurrent Energy, added, “We are very pleased to complete the sale of Fort Duncan Storage to Hunt Energy Network. The project has demonstrated exceptional performance and has become a reliable and responsive asset for the Texas grid. This transaction is an important milestone in our strategic initiative to selectively monetize projects to support our continued growth.”

About Recurrent Energy

Recurrent Energy, a subsidiary of Canadian Solar Inc., is one of the world’s largest and most geographically diversified utility-scale solar and energy storage project development, ownership, and operations platforms. With an industry-leading team of in-house energy experts, Recurrent Energy serves as Canadian Solar’s global development and power services business. To date, Recurrent Energy has successfully developed, built, and connected 12 GWp of solar projects and more than 5 GWh of energy storage projects across six continents. As of September 30, 2025, its global pipeline includes approximately 23 GWp of solar power and 73 GWh of energy storage capacity. The company also has over 14 GW of solar and energy storage projects under operations and maintenance (O&M) contracts. These figures exclude China. Additional details are available at www.recurrentenergy.com.

About Canadian Solar

Canadian Solar is one of the world’s largest solar technology and renewable energy companies. Founded in 2001 and headquartered in Kitchener, Ontario, the Company is a leading manufacturer of solar photovoltaic modules; provider of solar energy and battery energy storage solutions; and developer, owner, and operator of utility-scale solar power and battery energy storage projects. Over the past 24 years, Canadian Solar has successfully delivered nearly 170 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar has shipped over 16 GWh of battery energy storage solutions to global markets as of September 30, 2025, boasting a $3.1 billion contracted backlog as of October 31, 2025. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12 GWp of solar power projects and 6 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 25 GWp of solar and 81 GWh of battery energy storage capacity in various stages of development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

Safe Harbor/Forward-Looking Statements

Certain statements in this press release, including those regarding the Company’s expected future shipment volumes, revenues, gross margins, and project sales are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the “Safe Harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as “may”, “will”, “expect”, “anticipate”, “future”, “ongoing”, “continue”, “intend”, “plan”, “potential”, “prospect”, “guidance”, “believe”, “estimate”, “is/are likely to” or similar expressions, the negative of these terms, or other comparable terminology. These forward-looking statements include, among other things, our expectations regarding global electricity demand and the adoption of solar and battery energy storage technologies; our growth strategies, future business performance, and financial condition; our transition to a long-term owner and operator of clean energy assets and expansion of project pipelines; our ability to monetize project portfolios, manage supply chain fluctuations, and respond to economic factors such as inflation and interest rates; our outlook on government incentives, trade measures, regulatory developments, and geopolitical risks; our expectations for project timelines, costs, and returns; competitive dynamics in solar and storage markets; our ability to execute supply chain, manufacturing, and operational initiatives; access to capital, debt obligations, and covenant compliance; relationships with key suppliers and customers; technological advancement and product quality; and risks related to intellectual property, litigation, and compliance with environmental and sustainability regulations. Other risks were described in the Company’s filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 30, 2025. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today’s date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.

Canadian Solar Inc. Investor Relations Contact
Wina Huang
Investor Relations
Canadian Solar Inc.
investor@canadiansolar.com 

Recurrent Energy Media Inquiries
Inés Arrimadas
Recurrent Energy
comm_global@recurrentenergy.com

Illumina unveils roadmap of groundbreaking NovaSeq X advancements in data quality, output, speed, and flexibility

By
Advertorial Desk
-

40% increase in output to 35 billion reads, up to Q70 quality scores, improved turnaround time, and staggered starts are among the updates to be rolled out on all NovaSeq X systems, advancing precision medicine and delivering compounded value for NovaSeq X customers

SAN DIEGO, Feb. 24, 2026 /PRNewswire/ — On February 23, Illumina, Inc. (NASDAQ: ILMN) unveiled an 18-month roadmap of innovations that enhance the power and value of the NovaSeq X system. Updates include technology that will deliver up to a Q70 quality score for the first time, along with 30% increased speed and output up to 35 billion reads (35B). Staggered starts and new flow cells go live across the customer base in the coming weeks.

Illumina unveils roadmap of groundbreaking NovaSeq X advancements in data quality, output, speed, and flexibility
Illumina unveils roadmap of groundbreaking NovaSeq X advancements in data quality, output, speed, and flexibility

Together, these advances increase daily sequencing productivity and expand the range of applications that can be run at scale on a single instrument. With higher output, increased accuracy, faster run times, and new flexible workflow modes, the roadmap delivers compounded value for customers seeking better, faster, and more cost-effective sequencing for their most demanding applications. Improved accuracy ushers in a new era for applications that require ultrasensitivity. Upon rollout, these updates will enhance the performance and value of the 890[i] NovaSeq X systems installed globally—the world’s largest high-throughput sequencing fleet.

“The NovaSeq X is already the gold-standard in sequencing, and Illumina is constantly innovating to meet the growing needs of our customers’ ambitious projects,” said Steve Barnard, PhD, chief technology officer of Illumina. “With our roadmap of advances in quality, speed, output, and flexibility, we are bringing the industry the latest in cutting-edge technology and chemistry. These updates will set the stage for a new wave of research breakthroughs, inspiring a new standard of care in oncology and rare disease, ultimately improving human health.”

These advances—together with a growing portfolio of multiomic and oncology-focused assays—accelerate Illumina’s ability to deliver higher-quality data at a lower total cost. The updates also set the company on track to scale access to whole-genome sequencing research in oncology, including highly sensitive molecular residual disease (MRD) testing, and genetic disease.

Roadmap highlights

Key product enhancements expected to be to be rolled out over the next 18 months include:

  • Data quality: Illumina will introduce Q70 quality score technology, enabling cutting-edge oncology applications with unmatched accuracy.
  • Output: NovaSeq X output will increase from 25B to 35B (a 40% uptick) and 10B will increase to 14B, enabling larger and more complex studies on the same instrument.
  • Speed: Illumina will deliver faster turn-around times, with 14B output in 20–22 hours, representing a 30% average improvement in speed on WGS workflows.
  • Flexibility: Illumina will provide enhanced batching flexibility and new high-throughput modes, optimizing flow cell usage to improve read volume for single-cell, proteomics, and Perturb-seq applications.

In the coming weeks, Illumina will introduce new flow cells, staggered starts, and software enhancements that expand the sequencer’s applications.

  • Flow cells: 5B kits present a mid-size batching option ideally suited for proteomic studies. A 1.5B 600 cycle kit offers longer read length for metagenomics, immune repertoire studies, and amplicon sequencing.
  • Staggered starts: Near-independent flow cell sides allow for asynchronous runs as samples become available, maximizing instrument flexibility and boosting throughput.
  • DRAGEN software advances: DRAGEN pipelines for multiomics, oncology, and genetics.

Texas A&M Agri Life utilizes the NovaSeq X to handle large volumes of samples and recently participated in an early access trial of the 1.5B 600 cycle kit and upcoming NovaSeq X software enhancements.

“The NovaSeq X is becoming better, cheaper, and faster,” said Charlie Johnson, PhD, director of Genomics and Bioinformatics. “Since we purchased the NovaSeq X, the data yield for a run has increased by 30% on average, thanks to the advances Illumina continues to introduce. Today, the 600-cycle flow cell delivers everything we hoped for in high-throughput, longer-read sequencing for our metagenomics work.”

The updates will be rolled out across all NovaSeq X systems, benefiting both current users and future adopters.

Illumina NovaSeq X systems are used around the world supporting research and clinical labs that are working to advance science and improve human health. Treatment breakthroughs, diagnostic models, and entire industries have been built on Illumina’s next-generation sequencing capabilities, from discoveries in targeted cancer therapy to cancer and rare disease diagnosis, non-invasive prenatal screening, and MRD testing. 

To learn more about the NovaSeq X, visit https://www.illumina.com/systems/sequencing-platforms/novaseq-x-plus.html.

Use of forward-looking statements

This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors to which our business is subject that could cause actual results to differ materially from those in any forward-looking statements are: (i) our ability to successfully implement NovaSeq X updates on a cost-effective and timely basis, (ii) challenges inherent in developing and launching new products and services, including modifying and scaling manufacturing operations, and reliance on third-party suppliers for critical components; (iii) our ability to manufacture robust instrumentation and consumables and develop reliable software solutions; and (iv) the acceptance and adoption by customers of our newly launched or updated products, which may or may not meet our and their expectations, together with other factors detailed in our filings with the Securities and Exchange Commission, including our most recent filings on Forms 10-K and 10-Q, or in information disclosed in public conference calls, the date and time of which are released beforehand. We undertake no obligation, and do not intend, to update these forward-looking statements, to review or confirm analysts’ expectations, or to provide interim reports or updates on the progress of the current quarter.

About Illumina
Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments. To learn more, visit illumina.com and connect with us on X, Facebook, LinkedIn, Instagram, TikTok, and YouTube.

[i] As of the Q4 financial disclosures, the NovaSeq X active install base was 890 at the end of FY2025.

IDEMIA Secure Transactions and Hyundai Motor Group Partner to Deploy Advanced Global Automotive Connectivity Solution

By
Advertorial Desk
-

COURBEVOIE, France, Feb. 24, 2026 /PRNewswire/ — IDEMIA Secure Transactions (IST), a global leader in connectivity and security solutions, is now providing Hyundai Motor Group (HMG), one of the world’s largest automakers, its advanced car connectivity management solution. Thanks to IST’s eSIM and Connectivity Manager, this collaboration marks a significant milestone in new generation connected car technology and enhanced supply chain efficiency for automakers worldwide.

Transforming Automotive Connectivity

With IDEMIA Secure Transactions’ Connectivity Manager, automakers achieve unprecedented flexibility in selecting mobile network operator partners worldwide. Adopting this innovative strategy, automakers gain the ability to dynamically switch mobile operators in vehicles whenever it needs, optimizing costs logistics, and operational efficiency. In addition, by equipping vehicles with IST’s eSIM, automakers are able to eliminate the need for region specific SIM variants, significantly simplifying supply chain complexities while maintaining robust connectivity across all markets.

Scaling Innovation Across Key Regions

IDEMIA Secure Transactions will manage connectivity for HMG vehicles, including Hyundai Motor, Kia and Genesis, equipped with eSIMs across strategic markets around the globe. With HMG producing several million vehicles annually, this partnership is set to equip millions of connected cars each year with IST’s eSIM technology. Deployment has begun in 2025 starting in the Middle East, where vehicles will be equipped with worldwide out-of-the-box connectivity, enabling seamless updates tailored to destination countries.

Enhancing the Driving Experience with Advanced Connectivity

With IDEMIA Secure Transactions’ advanced eSIM technology, drivers will enjoy seamless connectivity for telematics and infotainment systems, ensuring smoother navigation, enhanced safety features, and effortless access to in-car services tailored to their needs.

By leveraging cutting-edge GSMA-certified technologies and its Connectivity Manager hosted on Microsoft Azure Cloud, IST ensures that vehicles equipped with its solution provide reliable and secure connectivity to deliver efficient software updates and robust internet-based services, supporting both driver safety and the overall driving experience. This is another step towards the Software-Defined Vehicle strategy that is shaping the auto industry thanks to connectivity.

Contact: contact.press@idemia.com 

China Yuchai International Announces Unaudited 2025 Second Half-Year and Full Year Financial Results

By
Advertorial Desk
-

SINGAPORE, Feb. 24, 2026 /PRNewswire/ — China Yuchai International Limited (NYSE: CYD) (“China Yuchai” or the “Company”), one of the largest powertrain solution manufacturers through its main operating subsidiary in China, Guangxi Yuchai Machinery Company Limited (“Yuchai”), announces today its unaudited consolidated financial results for the 2025 second half year (“2H 2025”) and the fiscal year ended December 31, 2025 (“FY 2025”). The financial information presented herein for 2H 2025, FY 2025, the second half of 2024 (“2H 2024”), and the fiscal year ended December 31, 2024 (“FY 2024”) are reported using the IFRS accounting standards (“IFRS”) as issued by the International Accounting Standards Board.

Financial Highlights for 2H 2025

  • Revenue increased by 33.5% to RMB 11.8 billion (US$ 1.7 billion), compared with RMB 8.8 billion in 2H 2024.
  • Gross profit increased by 58.4% to RMB 2.2 billion (US$ 317.0 million), compared with RMB 1.4 billion in 2H 2024. Gross margin was 18.9% in 2H 2025, compared with 15.9% in 2H 2024.
  • Operating profit grew by 193.1% to RMB 469.2 million (US$ 66.7 million), compared with RMB 160.1 million in 2H 2024.
  • Profit for the period increased by 77.7% to RMB 275.7 million (US$ 39.2 million), compared with RMB 155.1 million in 2H 2024.
  • Basic and diluted earnings per share rose by 108.7% to RMB 4.57 (US$ 0.65), compared with RMB 2.19 in 2H 2024.
  • Total number of engines sold increased by 28.7% to 210,913 units, compared with 163,843 units in 2H 2024.

Revenue increased by 33.5% to RMB 11.8 billion (US$ 1.7 billion), compared with RMB 8.8 billion in 2H 2024.

The increase in the total number of engines sold in 2H 2025 was primarily driven by a 49.2% year-over-year (“YoY”) rise in truck and bus engine unit sales, which significantly outpaced the 13.0% YoY growth in market sales of truck and bus vehicles (excluding gasoline- and electric-powered vehicles) as reported by the China Association of Automobile Manufacturers (“CAAM”). Truck engine unit sales in 2H 2025 rose by 59.4%. Off-road engine unit sales increased by 7.5% YoY, led by strong growth of more than 22.0% in both industrial and marine and genset unit sales, offsetting lower agricultural engine unit sales. 

Gross profit increased by 58.4% to RMB 2.2 billion (US$ 317.0 million), up from RMB 1.4 billion in 2H 2024. Gross margin increased to 18.9% in 2H 2025, compared with 15.9% in 2H 2024. The increase was mainly due to higher unit sales volume, a change of sales mix with higher unit sales of heavy-duty and high-horsepower (“HHP”) engines, and continuing cost reduction initiatives.  

Other operating income decreased by 44.1% to RMB 224.5 million (US$ 31.9 million), compared with RMB 401.5 million in 2H 2024. The decrease was mainly due to lower government grants.

Research and development (“R&D”) expenses increased by 48.0% to RMB 874.9 million (US$ 124.5 million), compared with RMB 591.1 million in 2H 2024, mainly driven by higher experimental costs, increased personnel expenses, higher mold costs, and impairments related to fuel cell development. Total R&D expenditure, including capitalized costs, was RMB 974.2 million (US$ 138.6 million), representing 8.3% of the revenue in 2H 2025, as compared with RMB 726.0 million, or 8.2% of the revenue in 2H 2024.

Selling, general and administrative (“SG&A”) expenses increased by 4.9% to RMB 1.1 billion (US$ 157.7 million) from RMB 1.0 billion in 2H 2024. This increase was mainly due to increased personnel expenses and higher consultancy fees, partially offset by lower accounts receivable provisions compared with the same period last year. SG&A expenses represented 9.4% of the revenue in 2H 2025, compared with 12.0% for 2H 2024.

Operating profit rose by 193.1% to RMB 469.2 million (US$ 66.7 million) from RMB 160.1 million in 2H 2024. Operating margin was 4.0%, compared with 1.8% in 2H 2024. The increase was generated by higher unit sales volume, a change of sales mix with higher unit sales of heavy-duty and HHP engines, and lower SG&A expense as percentage of the total revenue.

Finance costs decreased by 20.2% to RMB 29.6 million (US$ 4.2 million) from RMB 37.1 million in 2H 2024, primarily due to lower bank term loans and reduced bills discounting.

The share of financial results of the associates and joint ventures decreased by 15.1% to RMB 49.7 million (US$ 7.1 million), compared with RMB 58.5 million in 2H 2024. The decrease was mainly due to reduced profits at Y&C Engine Co., Ltd. 

Income tax expense was RMB 213.5 million (US$ 30.4 million), compared with RMB 26.4 million in 2H 2024. The tax increase was due to higher profits in 2H 2025 as compared with 2H 2024, and higher deferred tax expenses.

Net profit attributable to equity holders of the Company increased by 107.4% to RMB 171.6 million (US$ 24.4 million), compared with RMB 82.7 million in 2H 2024.

Basic and diluted earnings per share were RMB 4.57 (US$ 0.65), compared with RMB 2.19 in 2H 2024.

Basic and diluted earnings per share for 2H 2025 and 2H 2024 were based on the weighted average of 37,518,322 shares and 37,809,894 shares, respectively.

Financial Highlights for FY 2025 

  • Revenue grew by 28.9% to RMB 24.7 billion (US$ 3.5 billion), compared with RMB 19.1 billion in FY 2024.
  • Gross profit increased by 44.3% to RMB 4.1 billion (US$ 578.7 million), with a 16.5% gross margin, compared with RMB 2.8 billion and a gross margin of 14.7% in FY 2024.
  • Operating profit increased by 82.7% to RMB 1.1 billion (US$ 155.2 million), compared with RMB 597.0 million in FY 2024.
  • Profit for the year increased by 64.8% to RMB 810.5 million (US$ 115.3 million), compared with RMB 491.7 million in FY 2024.
  • Basic and diluted earnings per share increased by 74.4% to RMB 14.32 (US$ 2.04) from RMB 8.21 in FY 2024.
  • Total number of engines sold increased by 29.4% to 461,309 units, compared with 356,586 units in FY 2024.

Revenue increased by 28.9% to RMB 24.7 billion (US$ 3.5 billion), compared with RMB 19.1 billion in FY 2024.

The total number of engines sold in FY 2025 increased by 29.4% YoY to 461,309 units, compared with 356,586 units in FY 2024. Truck and bus engine unit sales rose by 42.8%, compared with CAAM data for vehicle market sales growth (excluding gasoline- and electric-powered vehicles) of 4.5% for 2025. Total truck engine unit sales rose by 50.7% YoY, compared with a 5.9% YoY increase from CAAM data for truck unit sales. Off-road engine unit sales increased by 13.0% YoY, with both industrial and marine and genset unit sales growth of more than 24% YoY offsetting lower agricultural engine unit sales.

Gross profit increased by 44.3% to RMB 4.1 billion (US$ 578.7 million) from RMB 2.8 billion in FY 2024. Gross margin increased to 16.5%, compared with 14.7% in FY 2024. The increase was mainly due to higher unit sales volume, a change of sales mix with higher unit sales of heavy-duty and HHP engines, and continuing cost reduction initiatives.

Other operating income decreased by 22.5% to RMB 445.9 million (US$ 63.4 million), compared with RMB 575.7 million in FY 2024. This was primarily due to lower bank interest income and reduced government grants.  

R&D expenses increased by 37.3% to RMB 1.4 billion (US$ 192.3 million), compared with RMB 984.7 million in FY 2024, primarily driven by higher experimental costs, increased personnel expenses, and impairments related to fuel cell development. Yuchai had continued with its initiatives to enhance the engine efficiency and performance of its National VI and Tier-4 emission standards compliant engines, and power generation engines for data centers and marine applications, while also advancing its new energy solutions. Total R&D expenditure, including capitalized costs, was RMB 1.5 billion (US$ 217.1 million), representing 6.2% of the revenue in FY 2025, compared with RMB 1.2 billion, or 6.2% of the revenue in FY 2024.

SG&A expenses increased by 14.3% to RMB 2.1 billion (US$ 294.7 million), representing 8.4% of the revenue in FY 2025, compared with RMB 1.8 billion, or 9.5% of the revenue in FY 2024. This was mainly due to higher personnel expenses and consultancy fees, as well as increased aftersales and service expenses that partially offset lower accounts receivable provisions.

Operating profit increased by 82.7% to RMB 1.1 billion (US$ 155.2 million), compared with RMB 597.0 million in FY 2024. The operating margin was 4.4%, up from 3.1% in FY 2024.

Finance costs decreased by 20.8% to RMB 61.8 million (US$ 8.8 million) from RMB 78.0 million in FY 2024, primarily due to lower bank term loans.

The share of financial results of the associates and joint ventures increased by 9.4% to income of RMB 111.1 million (US$ 15.8 million), compared with income of RMB 101.5 million in FY 2024. The improvement was mainly driven by higher profits of 18.8% at MTU Yuchai Power Company Limited, and increased profits at Guangxi Purem Yuchai Automotive Technology Co., Ltd., partially offsetting lower profits at Y&C Engine Co., Ltd.

Income tax expense increased by 156.0% to RMB 329.7 million (US$ 46.9 million), compared with RMB 128.8 million in FY 2024. The tax increase was driven by higher profits in FY 2025 as compared with FY 2024, and higher deferred tax expenses.

Net profit attributable to the Company’s shareholders increased by 66.3% to RMB 537.4 million (US$ 76.5 million), compared with RMB 323.1 million in FY 2024.

Basic and diluted earnings per share rose by 74.4% to RMB 14.32 (US$ 2.04), compared with RMB 8.21 in FY 2024.

Basic and diluted earnings per share for FY 2025 and FY 2024 were based on the weighted average of 37,518,322 shares and 39,325,763 shares, respectively.  

Balance Sheet Highlights as at December 31, 2025

  • Cash and bank balances were RMB 7.9 billion (US$ 1.1 billion), compared with RMB 6.4 billion at the end of FY 2024.
  • Trade and bills receivables were RMB 10.4 billion (US$ 1.5 billion), compared with RMB 8.8 billion at the end of FY 2024.
  • Inventories were RMB 5.6 billion (US$ 791.8 million), compared with RMB 4.7 billion at the end of FY 2024.
  • Trade and bills payables were RMB 11.1 billion (US$ 1.6 billion), compared with RMB 8.5 billion at the end of FY 2024.
  • Short-term and long-term loans and borrowings were RMB 2.0 billion (US$ 287.4 million), compared with RMB 2.5 billion at the end of FY 2024.

Mr. Weng Ming Hoh, President of China Yuchai, commented, “We maintained our strong sales growth in the second half and fiscal year of 2025, with total unit sales increasing by 28.7% and 29.4% YoY, respectively.”

“In addition to our continued expansion in China, we enhanced our footprint in overseas markets with a strategic agreement in Vietnam, shipped high–quality castings to Germany, and delivered buses powered by Yuchai natural gas engines in Mexico. New partnerships with additional global industrial leaders will further strengthen market access in the future.”

“New demands for power and marine propulsion are accelerating the shift to more advanced engines. Surging AI and data–center workloads require stronger power–generation solutions. Sales of combined MTU Yuchai Power and Yuchai-branded HHP engines to data centers exceeded 2,000 units in 2025, up from 750 units in the prior year.”

“Our indirect subsidiary, Guangxi Yuchai Marine and Genset Power Co. Ltd., filed an application for listing with the Hong Kong Stock Exchange (the “HKEX”) in January 2026. The potential listing is subject to review and approval by the HKEX and relevant regulatory authorities and market conditions.”

“Given our strong financial position and positive cash flow generation, a cash dividend of US$ 0.53 per ordinary share for the year ended December 31, 2024 was paid to shareholders in July 2025. We look forward to continuing to create sustainable value for our shareholders in appreciation of their continued support,” Mr. Hoh concluded.

Disclaimer Regarding Unaudited Financial Results 

Investors should note that the Company has not yet finalized its consolidated financial results for FY 2025. The financial information of the Company presented above is unaudited and may differ materially from the audited financial statements of the Company for FY 2025 to be released when it is available. 

Exchange Rate Information

The Company’s functional currency is the U.S. dollar and its reporting currency is Renminbi. The translation of amounts from Renminbi to U.S. dollars is solely for the convenience of the reader. Translation of amounts from Renminbi to U.S. dollars has been made at the rate of RMB 7.0288 = US$1.00, the rate quoted by the People’s Bank of China at the close of business on December 31, 2025. No representation is made that the Renminbi amounts could have been, or could be, converted into U.S. dollars at that rate or at any other certain rate on December 31, 2025 or at any other date.

Unaudited 2H 2025 and FY 2025 Conference Call

A conference call and audio webcast for the investment community has been scheduled for 8:00 A.M. Eastern Standard Time on February 24, 2026. The call will be hosted by the President and Chief Financial Officer of China Yuchai, Mr. Weng Ming Hoh and Mr. Choon Sen Loo, respectively, who will present and discuss the financial results of the Company followed by a Q&A session.

Analysts and institutional investors may participate in the conference call by registering at: https://register-conf.media-server.com/register/BI06634f00341a4660851bd36d6469a7d1 at least one hour before the scheduled start time. A reply email will be sent with instructions and phone numbers to join the call. 

For all other interested parties, a simultaneous webcast can be accessed at the investor relations section of the Company’s website located at http://www.cyilimited.com. Participants are encouraged to join the webcast at least 10 minutes prior to the scheduled start time. The recorded webcast will be available on the website shortly after the earnings call.

About China Yuchai International

China Yuchai International Limited, through its subsidiary Guangxi Yuchai Machinery Company Limited (“Yuchai”), is one of the leading powertrain solution providers in China. Yuchai specializes in the design, manufacture, assembly, and sale of a wide variety of light-, medium- and heavy-duty engines for trucks, buses, pickups, construction and agricultural equipment, and marine and power generation applications. Yuchai offers a comprehensive portfolio of powertrain solutions, including but not limited to diesel, natural gas, and new energy products such as pure electric, range extenders, and hybrid and fuel cell systems. Through its extensive network of regional sales offices and authorized customer service centers, Yuchai distributes its engines directly to auto OEMs and distributors while providing after-sales services across China and globally. Founded in 1951, Yuchai has established a reputable brand name, strong research and development team, and significant market share in China. Known for its high-quality products and reliable after-sales support, Yuchai has also expanded its footprint into overseas markets. In 2025, Yuchai sold 461,309 engines, further solidifying its position as a leading manufacturer and distributor of engines in China. For more information, please visit http://www.cyilimited.com.

Safe Harbor Statement:

This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe”, “expect”, “anticipate”, “project”, “targets”, “optimistic”, “confident that”, “continue to”, “predict”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning the China Yuchai group of entities’ operations, financial performance and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. China Yuchai cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors such as government and stock exchange regulations, competition, political, economic and social conditions around the world and in China including those discussed in China Yuchai’s Form 20-Fs under the headings “Risk Factors”, “Results of Operations” and “Business Overview” and other reports filed with the Securities and Exchange Commission from time to time. All forward-looking statements are applicable only as of the date they are made and China Yuchai specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.

For more information:

Investor Relations
Kevin Theiss
Tel: +1-212-510-8922
Email: cyd@bluefocus.com

 

— Tables Follow –

 

CHINA YUCHAI INTERNATIONAL LIMITED  
UNAUDITED CONSOLIDATED INCOME STATEMENTS 
For the six months ended December 31, 2025 and 2024
(RMB and US$ amounts expressed in thousands, except per share data)

Second Half of 2025

Second Half of 2024

RMB ‘000

US$ ‘000

RMB ‘000

US$ ‘000


Revenue

11,783,844

1,676,509

8,827,151

1,255,855


Cost of sales

(9,555,661)

(1,359,501)

(7,420,695)

(1,055,756)


Gross profit

2,228,183

317,008

1,406,456

200,099


Other operating income, net

224,510

31,941

401,548

57,129


Research and development 
expenses

(874,914)

(124,476)

(591,099)

(84,097)

Selling, general and
administrative expenses

(1,108,611)

(157,724)

(1,056,825)

(150,356)


Operating profit

469,168

66,749

160,080

22,775


Finance costs

(29,571)

(4,207)

(37,057)

(5,272)

Share of results of associates  
and joint ventures

49,657

7,065

58,473

8,319


Profit before tax

489,254

69,607

181,496

25,822


Income tax expense

(213,523)

(30,378)

(26,357)

(3,750)


Profit for the period

275,731

39,229

155,139

22,072

Attributable to:


Equity holders of the 
Company

171,600

24,414

82,725

11,769


Non-controlling interests

104,131

14,815

72,414

10,303

275,731

39,229

155,139

22,072

Net earnings per share


– Basic

4.57

0.65

2.19

0.31


– Diluted

4.57

0.65

2.19

0.31


Unit sales

210,913

163,843

Note: Revenue and Cost of Sales for first half of 2025 were adjusted downwards by
RMB 928,239 thousand to RMB 12,877,928 thousand with the corresponding cost of
sales reduced by RMB 928,239 thousand to RMB 11,038,464 thousand. There were
no changes to the Gross Profit, Operating Profit and Profit before tax and Profit for
the period.

 

 

 

CHINA YUCHAI INTERNATIONAL LIMITED
UNAUDITED CONSOLIDATED INCOME STATEMENTS
For the years ended December 31, 2025 and 2024
(RMB and US$ amounts expressed in thousands, except per share data)

December 31, 2025

December 31, 2024

(Unaudited)

(Audited)

RMB ‘000

US$ ‘000

RMB ‘000

US$ ‘000


Revenue

24,661,772

3,508,675

19,133,575

2,722,168


Cost of sales

(20,594,125)

(2,929,963)

(16,315,074)

(2,321,175)


Gross profit

4,067,647

578,712

2,818,501

400,993


Other operating income, net

445,946

63,445

575,658

81,900

Research and development 
expenses

(1,351,607)

(192,296)

(984,659)

(140,089)

Selling, general and 
administrative expenses

(2,071,102)

(294,659)

(1,812,526)

(257,871)


Operating profit

1,090,884

155,202

596,974

84,933


Finance costs

(61,765)

(8,787)

(77,982)

(11,095)

Share of results of 
associates and joint
ventures 

111,064

15,801

101,548

14,447


Profit before tax

1,140,183

162,216

620,540

88,285


Income tax expense

(329,682)

(46,905)

(128,798)

(18,324)


Profit for the period 

810,501

115,311

491,742

69,961

Attributable to:

Equity holders of the 
Company

537,390

76,455

323,055

45,962


Non-controlling interests

273,111

38,856

168,687

23,999

810,501

115,311

491,742

69,961

Net earnings per share


– Basic 

14.32

2.04

8.21

1.17


– Diluted 

14.32

2.04

8.21

1.17

461,309

356,586

Unit sales

 

 

 

CHINA YUCHAI INTERNATIONAL LIMITED 
SELECTED UNAUDITED CONSOLIDATED FINANCIAL POSITION ITEMS 
For the years ended December 31, 2025 and December 31, 2024
(RMB and US$ amounts expressed in thousands)


December 31, 2025
(Unaudited)

December 31, 2024

(Audited)

RMB ‘000

US$ ‘000

RMB ‘000


Cash and bank balances

7,913,083

1,125,809

6,433,593


Trade and bills receivables

10,417,060

1,482,054

8,809,068


Inventories

5,565,489

791,812

4,654,448


Trade and bills payables

11,059,518

1,573,457

8,499,755


Short-term and long-term loans and borrowings

2,020,020

287,392

2,509,800


Equity attributable to equity holders of the
Company

9,580,961

1,363,101

9,164,625

 

 

Defining Excellence with World-Class Standards: International Dragon Award (IDA) Drives Professional Growth and Sustainable Development in the Global Financial Insurance Industry

By
Advertorial Desk
-

TAIPEI, Feb. 24, 2026 /PRNewswire/ — As the global financial insurance landscape continues to evolve, marked by increasing information transparency and growing consumer risk awareness, professional business operations have become essential for industry practitioners worldwide to achieve sustainable development.

Founded in 1998 by IMM International, the International Dragon Award (IDA) upholds the professional philosophy of “Paragon, Perfection, and Nobility” as its guiding principles. The Award comprises two distinct categories — the “Outstanding Agent Award” and the “Excellent Manager Award” — recognizing exceptional practitioners in the global financial insurance industry through a rigorous registration and review process, coupled with a prestigious awards ceremony. After 27 years of dedicated development, IDA has earned high recognition and endorsement from over 250 financial insurance institutions across 17 countries and regions. With a cumulative membership exceeding 181,000 professionals worldwide, IDA stands as a benchmark and model for the global financial insurance industry.

The IDA honor system establishes a clear and comprehensive development pathway. Through its “Sales Excellence System” and “Organizational Development System,” it encourages IDA members to continuously pursue higher goals and systematically drive individual and team growth. Furthermore, it incorporates a “Commitment to Sustained Excellence System,” ensuring that outstanding achievement is not merely a single-year accomplishment but a tangible testament to long-term professional accumulation and sustained dedication to excellence.

Data Illuminates Excellence, Honors Drive Growth

In 2024, the IDA Executive Committee launched the inaugural Official Announcement of Global Rankings for IDA Member Companies in Hong Kong. Building on this in 2025, to further harness the value of data through professional application, the “IDA Data Analytics Expert Committee” was established. This committee comprises renowned figures from the global financial insurance industry who possess profound insight, trend foresight, professionalism, and credibility. Leveraging IDA’s robust database accumulated over 27 years, the committee has conducted a series of significant and valuable data analyses that serve as crucial guidance and reference for the strategic operations of financial insurance institutions as well as agency teams worldwide.

2025 IDA Membership Statistics — Global Rankings of Member Companies
2025 IDA Membership Statistics — Global Rankings of Member Companies

The International Dragon Award (IDA) establishes 36 cases and a First Year Commission (FYC) threshold as its registration criteria. Data reveals that financial insurance institutions with a higher proportion of IDA members not only effectively strengthen their professional capabilities, but also infuse their overall operations with sustained and resilient growth momentum. A deeper analysis of IDA member data shows that in 2025, one in every 2.3 IDA members has qualified for three or more terms. Notably, members with three or more terms demonstrate significantly higher productivity than the overall IDA membership average. Furthermore, IDA Lifetime Members — those who have qualified for 12 consecutive years or accumulated 15 terms — display an even more pronounced growth in productivity compared to the broader membership. This clearly illustrates that insurance practitioners who consistently pursue the world-class IDA standard are poised to become indispensable pillars and cornerstones within their teams and institutions.

The IDA Excellent Manager Award sets the nurturing of IDA-qualified members as its core eligibility criterion, thereby demonstrating the awardee’s exceptional leadership. A higher number of this award’s recipients within a financial insurance institution signifies a solid foundation for its organizational development, reflecting superior and robust business momentum as well as sustainability.

Honor-Driven × Education-Empowered: Achieving an Exceptional Insurance Career

Anchored by the dual pillars of “Honor” and “Education,” IMM International has leveraged its 43 years of accumulated resources to build a comprehensive insurance business ecosystem. This system assists insurance practitioners in pursuing professional honors through continuous learning and professional enhancement, thereby increasing performance productivity, deepening client and market engagement, while continually demonstrating the value and significance of insurance.

The 2026 International Dragon Award (IDA) registration period is now open. This year, the IDA Executive Committee has systematically developed a comprehensive support mechanism for IDA members — one designed to generate positive outcomes in business development, client engagement, and brand building. Each component of this mechanism is tailored to assist IDA members in transforming their professional expertise into enduring client trust and brand influence, ultimately achieving sustainable business and steady growth for their insurance careers.

For elite insurance professionals committed to building a lifelong career in the life insurance industry, achieving international honors has evolved far beyond a mere milestone — it stands as tangible proof of professional capability and personal excellence.

Against the backdrop of an increasingly professionalized global landscape, pursuing the world-class benchmark set by the International Dragon Award (IDA) offers practitioners in the financial insurance sectors worldwide a clear, actionable, and sustainable path toward professional recognition and long-term career growth.

International Dragon Award (IDA) Insurance Business Ecosystem
International Dragon Award (IDA) Insurance Business Ecosystem

 

OUE REIT Makes Yield-Accretive Strategic Entry to Sydney’s CBD with 19.9% Interest in Salesforce Tower at A$357.2 million

By
Advertorial Desk
-
  • Strategic expansion into prime Sydney CBD office anchors OUE REIT’s next growth phase with enhanced portfolio quality and geographical diversity
  • Distribution Per Unit (“DPU”)-accretive acquisition opportunity of a rare prime freehold office asset in Sydney CBD’s Core Precinct, with nearly full occupancy, long Weighted Average Lease Expiry (“WALE”) and strong Environmental, Social, and Governance (“ESG”) credentials
  • Attractive potential upside for Sydney’s CORE CBD commercial segment, underpinned by tightening prime supply, improving rents and sustained flight-to-quality demand
  • Proposed acquisition is expected to deliver DPU accretion of 0.9%
  • OUE REIT’s portfolio exposure in Singapore remains high at 94.9% post-acquisition

SINGAPORE, Feb. 24, 2026 /PRNewswire/ — OUE REIT Management Pte. Ltd., in its capacity as manager of OUE Real Estate Investment Trust (“OUE REIT”, and as manager of OUE REIT, the “Manager”), is pleased to announce that OUE REIT[1] has entered into a share and unit sale agreement (the “SUSA”) with Mitsubishi Estate Co., Ltd. (“MEC”)[2] to acquire a 19.9% interest in Salesforce Tower (the “Property”), a freehold 55-storey prime commercial tower in Circular Quay located at 180 George Street, Australia at an agreed property price of A$357.2 million (approximately S$319.8 million[3]). After taking into account the debt and other net assets attributable to the 19.9% interest in the Property, the purchase consideration is A$195.5 million (approximately S$175.0 million). Salesforce Tower is expected to generate an initial passing yield of approximately 5.8%[4] and the acquisition is expected to enhance OUE REIT’s income with a DPU accretion of 0.9% on a pro forma basis[5].

Salesforce Tower is a 55-storey premium-grade commercial tower with strong sustainability credentials and modern workplace specifications. Located in Circular Quay, one of Sydney’s key corporate and cultural precincts, the Property is within walking distance of, and has views of the Sydney Opera House, the Royal Botanic Garden and the Sydney Harbour Bridge. It also benefits from strong connectivity and access to amenities, with light rail, bus services, heavy rail stations at Circular Quay and Wynyard, and the Circular Quay Ferry Terminal all within a short walking distance.

Salesforce Tower enjoys a high actual occupancy of 99.2% as of 31 December 2025. The Property delivers resilient income supported by a long WALE of 5.5 years[6] and a high-calibre tenant base that values world-class ESG credentials and cutting-edge workplace environments, including Salesforce, TikTok and Jones Lang LaSalle.

Mr Han Khim Siew, Chief Executive Officer of the Manager, said, “This acquisition marks the commencement of Phase 3 of OUE REIT’s value creation journey. Following the divestment of Lippo Plaza Shanghai in 2024, an ageing asset on a short leasehold operating in a challenging market, we have successfully redeployed capital into Salesforce Tower, a prime freehold, newly built asset in Sydney’s core precinct with compelling upside potential, supported by sustained flight-to-quality demand and limited office supply.”

“Looking ahead, Australia offers a stable economic outlook, supported by strong capital investment flows and resilient demand drivers. In Sydney, favourable demographic tailwinds and proactive government planning are expected to further drive long-term office demand. While expanding our footprint into Sydney, Singapore will remain our core market, accounting for approximately 94.9% of our portfolio value post-acquisition[7]. We will also continue to explore opportunities to further enhance our portfolio through disciplined capital allocation, with a goal to deliver sustainable long-term growth for our Unitholders,” Mr Han concluded.

Acquisition funding and estimated total acquisition cost

The estimated total cost of the Proposed Acquisition (the “Total Acquisition Cost”) is approximately A$201.2 million[8] (approximately S$180.1 million). The Manager intends to finance the Total Acquisition Cost with a combination of debt and partial net sales proceeds from the divestment of Lippo Plaza Shanghai. The aggregate leverage is expected to increase to approximately 40.2%[9] post-acquisition, while NAV remained stable at S$0.56[9].

Salesforce Tower: Property Highlights as of 31 December 2025

Property

Salesforce Tower

Location

180 George Street, Sydney NSW 2000

Nature of Title

Freehold

Net Lettable Area (“NLA”)

Overall: 61,914 square meter (“sqm”)

Office: 59,977 sqm

Retail: 1,937 sqm

Number of Car Park Lots

86

Actual Occupancy Rate

99.2 %

WALE

5.5 years (by Gross Rental Income)

6.0 years (by NLA)

Green Ratings

Platinum WELL Certification

Platinum SmartScore rating

6 Star Green Star rating by Green Building Council Australia

5.0 Star NABERS Indoor Environment

5.0 Star NABERS Energy

4.0 Star NABERS Water

About OUE REIT

OUE Real Estate Investment Trust (“OUE REIT”), formerly known as OUE Commercial Real Estate Investment Trust, is one of the largest diversified Singapore REITs (“S-REITs”) with total assets under management of S$5.8 billion as of 31 December 2025.

OUE REIT aims to deliver stable distributions and provide sustainable long-term growth in return to holders of units (“Unitholders”) by investing in income-producing real estate used primarily for hospitality, retail and/or office purposes in financial and business hubs, as well as real estate-related assets.

OUE REIT’s portfolio comprises six high-quality office, hospitality and retail assets located in Singapore. Its three office assets – OUE Bayfront, One Raffles Place and OUE Downtown Office – are situated within the Central Business District, with a total Net Lettable Area (“NLA”) of approximately 1.7 million square feet (“sq ft”).

OUE REIT’s two hotels, Hilton Singapore Orchard and Crowne Plaza Changi Airport, are strategically located along the prime Orchard Road belt and within the Changi Airport vicinity, offering a total of 1,655 upper upscale hotel rooms. Complementing Hilton Singapore Orchard is Mandarin Gallery, a 126,283 sq ft high-end retail mall that has been a preferred destination for international brands in the heart of Orchard Road.

Listed on the Main Board of the Singapore Exchange Securities Trading Limited since 27 January 2014, OUE REIT is managed by OUE REIT Management Pte. Ltd. (the “Manager”), a wholly owned subsidiary of OUE Limited (the “Sponsor”). The Sponsor is a leading real estate and healthcare group, growing strategically to capitalise on growth trends across Asia. Its real estate activities include the development, investment and management of real estate assets across the commercial, hospitality, retail, residential and healthcare sectors.

For more information, please visit www.ouereit.com.

About the Sponsor: OUE Limited

OUE Limited (SGX:LJ3) is a leading real estate and healthcare group, growing strategically to capitalise on growth trends across Asia. Incorporated in 1964 and listed in 1969, OUE has a proven track record of developing and managing prime real estate assets, with a portfolio spanning the commercial, hospitality, retail and residential sectors.

OUE manages two SGX-listed REITs: OUE REIT, one of Singapore’s largest diversified REITs, and First REIT (a subsidiary of OUE Healthcare), Singapore’s first listed healthcare REIT. As at 31 December 2024, OUE’s total assets were valued at S$8.9 billion, with S$7.8 billion in funds under management across OUE’s two REIT platforms and managed accounts.

OUE Healthcare, an SGX Catalist-listed subsidiary of OUE, operates and owns high-quality healthcare assets in high-growth Asian markets. With a vision of creating a regional healthcare ecosystem that is anchored on Singapore’s medical best practices, OUE Healthcare’s portfolio of owned and operated businesses includes hospitals, medical centres, clinics and senior care facilities in Singapore, Japan, Indonesia and China.

Anchored by its “Transformational Thinking” philosophy, OUE has built a strong reputation for developing iconic projects, transforming communities, providing exceptional service to customers and delivering long-term value to stakeholders.

For more information, please visit www.oue.com.sg.

IMPORTANT NOTICE

The value of units in OUE REIT (“Units”) and the income derived from them, if any, may fall or rise. Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested. The past performance of OUE REIT is not necessarily indicative of the future performance of OUE REIT.

Investors should note that they will have no right to request the Manager to redeem or purchase their Units for so long as the Units are listed on the SGX-ST. It is intended that holders of Units may only deal in their Units through trading on the SGX-ST. The listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.

This press release may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from similar developments, shifts in expected levels of property rental income, changes in operating expenses (including employee wages, benefits, and training costs), property expenses and governmental and public policy changes. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager’s current view of future events.

Any discrepancies in the figures included in this press release between the listed amounts and the totals thereof are due to rounding. Accordingly, figures shown as totals in this press release may not be an arithmetic aggregation of the figures that precede them.

The information and opinions contained in this press release are subject to change without notice.

[1] The OUE REIT entity entering into the SUSA is OUE REIT (Australia) Trust and OUE REIT (Keystone) Pte. Ltd.

[2] The MEC entity entering into the SUSA is MEA Sub TC Pty Ltd, in its own capacity and as trustee for MEA Sub Trust.

[3] Unless otherwise indicated, Australian dollar (“A$” or “AUD”) amounts in this press release have been translated into Singapore dollar (“S$” or “SGD”) based on the exchange rate of A$1.00:S$0.8952 as of 24 February 2026 for illustrative purposes only.

[4] Based on the Agreed Property Price of A$357.2 million for a 19.9% interest in the Property.

[5] The pro forma DPU is based on the unaudited financial statements of OUE REIT for the financial year ended 31 December 2025 (“FY2025”) and assuming that the acquisition was completed on 1 January 2025.

[6] As of 31 December 2025, by gross rental income. WALE by Net Lettable Area was 6.0 years as of 31 December 2025.

[7] Based on independent portfolio valuations of OUE REIT’s Existing Portfolio as of 31 December 2025. Includes OUB Centre Limited’s 81.54% interest in One Raffles Place, 50% interest in OUE Bayfront and 19.9% interest of Salesforce Tower based on the Agreed Property price of A$357.2 million, assuming AUD:SGD exchange rate of A$1.00:S$0.8760 as of 31 December 2025.

[8] The Total Acquisition Cost comprises of (i) the Purchase Consideration of A$195.5 million (approximately S$175.0 million); (ii) acquisition fee payable to the Manager for the Proposed Acquisition of approximately A$3.6 million (approximately S$3.2 million) (being 1% of the Agreed Property Price), and (iii) the estimated professional and other fees and expenses incurred or to be incurred by OUE REIT in connection with the Proposed Acquisition of approximately A$2.1 million (approximately S$1.8 million).

[9] The pro forma financial effects of the Proposed Acquisition on OUE REIT’s aggregate leverage and NAV for FY2025, as if the Proposed Acquisition were completed on 1 January 2025, and OUE REIT held the Property through to 31 December 2025.

 

1...948949950...6,457Page 949 of 6,457