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Elliott Statement on Tokyo Gas Co., Ltd.

LONDON, Feb. 3, 2025 /PRNewswire/ — Elliott Investment Management, L.P. and Elliott Advisors (U.K.) Limited (“Elliott,” or “we”), which together advise funds that have a substantial investment in Tokyo Gas Co., Ltd. (“Tokyo Gas” or “the Company”), today issued the following statement:

“We welcome Tokyo Gas’s decision to expand its buyback program and implement additional measures to enhance capital efficiency and accelerate growth. We view these measures as meaningful first steps to unlock the substantial value embedded in Tokyo Gas’s asset base, and we believe this plan demonstrates the Company’s commitment towards value creation. We also support the establishment of the Corporate Value Enhancement Committee, and we anticipate the results of the Company’s review of Tokyo Gas’s non-core assets for divestment – including its extensive and underappreciated real estate holdings – to be announced at the comprehensive investor update in March. We look forward to continuing our engagement with the Company.”

About Elliott

Elliott Investment Management L.P. (together with its affiliates, “Elliott”) manages approximately $69.7 billion of assets as of June 30, 2024. Founded in 1977, it is one of the oldest funds under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Investment Management L.P.

Media Contacts:

London
Alice Best
Elliott Advisors (UK) Limited
T: +44 203 009 1715
abest@elliottadvisors.co.uk 

Tokyo
Brett Wallbutton
Ashton Consulting
T: +81 (0) 3 5425-7220
b.wallbutton@ashton.jp

 

CSI Properties Limited HK$2 billion Fundraising Proposal led by Chairman and Controlling Shareholder Mr. Mico Chung to Strengthen Balance Sheet

Gaw Capital as New Financial Investor Subscribing (i) Rights Shares at Premium to Market with lock-up, and (ii) 4 Years Senior Unsecured Note

HK$9 billion Asset Disposal Program to Narrow NAV Discount and Strengthen Shareholders Equity

HONG KONG, Feb. 3, 2025 /PRNewswire/ — CSI Properties Limited (“CSI” or the “Group”) (Stock code: 497) is pleased to announce a fundraising of approximately HK$1.5 billion by way of a rights issue of shares and an issuance of a HK$500 million senior unsecured note to Gaw Capital, to strengthen shareholders’ equity and working capital. This proposal will introduce a new financial investor with global institutional expertise and enhance our balance sheet’s  resilience for the current economic challenges.  Through a committed HK$9 billion active asset disposal program, we aim to narrow our NAV discount to our share price, and position the company for future growth opportunities in the evolving market landscape.

Key Highlights

  1. Fundraising of approximately HK$2 billion to strengthen balance sheet to ride out current market challenges.

    The total fundraising of approximately HK$ 2 billion will be composed of new equity capital of approximately HK$ 1.5 billion from the rights issue and another HK$500 million in senior unsecured note to be provided by Gaw Capital, which is a landmark fundraising in this challenging capital market. The fundraising is expected to strengthen our balance sheet and financial position, providing for working capital support for ongoing projects, as well as for retirement and refinancing of our debt obligations in the current challenging times. The management will strive to maintain continuous dialogue with all stakeholders concerned in order to strike an appropriate balance on the use of proceeds from this fundraising.

  2. Fundraising led by controlling shareholder and Gaw Capital via rights issue at premium to the last closing share price.

    As a demonstration of confidence, the rights issue will be priced at a premium to the last closing share price. This reflects the strong belief of our controlling shareholder and new strategic investor Gaw Capital in unlocking hidden shareholders value from the significant discount to the NAV and the long-term fundamental upside of CSI.

  3. Controlling shareholder is leading the Fundraising with HK$400 million committed and will remain as the largest shareholder without any change of control after this approximately HK$2 billion total fundraising.

    Controlling shareholder Chairman Chung will be underwriting $400 million worth of rights shares, in addition to the participation from Gaw Capital, demonstrating their commitment to our Group’s future. 

  4. Issuing of Bonus Warrants to give shareholders opportunity to participate in future upside of CSI

    For every ten new consolidated shares, one bonus warrant will be issued with a conversion price of HK$ 0.22 into one ordinary shares, giving shareholders the opportunity to participate in the future upside of CSI.

  5. New Investor Gaw Capital will provide capital commitment and a new institutional investor perspective.

    The introduction of Gaw Capital as an investor will contribute up to HK$ 758 million in new equity capital and an additional senior unsecured note of HK$500 million. In addition, our current management team is looking forward to working with Gaw Capital to leverage on their global network and institutional expertise in our key strategic decisions. Whilst control and management of CSI will remain unchanged, we believe Gaw Capital will become a valuable and strategic business partner.

  6. Gaw Capital has committed to a four-year lockup to show commitment to the future of CSI, subject to market and other conditions

    The lockup is a strong testament to the controlling shareholder and management team in managing CSI through the current challenging market. Furthermore, the lockup will help to avoid any market volatility on the price of our shares.

  7. Strong commitment to a HK$9 billion asset disposal program to narrow valuation discount.

    The management team and Gaw Capital are committed to a HK$9 billion asset disposal program of our prime assets in both residential and commercial properties within the next 4 years, and will actively seek ways to increase and unlock shareholders value.

  8. The rights issue will be anchored by our Chairman as controlling shareholder and leading international real estate private equity firm Gaw Capital, in addition to the Underwriter VMS Securities fully underwriting the balance of the whole rights issue in raising approximately HK$1.5 billion.  

    The rights issue will provide existing shareholders with the opportunity to invest in the future of CSI together with our Chairman and Gaw Capital. Gaw Capital is a leading real estate private equity firm in the Asia Pacific and other global markets and currently managing over US$35.8 billion in AUM.

“We are excited to welcome Gaw Capital as a true business partner from the angle of their global expertise and looking at things from an institutional investor perspective.” CSI Chairman Chung commented. “I am firmly committed to remain as the major controlling shareholder and this fundraising exercise will not result in any change of control. Indeed, I am thankful for Gaw Capital’s confidence in me and our management.”

Kenneth Gaw, President and Managing Principal of Gaw Capital Partners, said: “Gaw Capital values the opportunity to collaborate with CSI Properties as a strategic shareholder, with which it has enjoyed a business relationship dating back to 2012. CSI Properties hold high quality portfolio with a majority of quality residential and commercial assets in Hong Kong. The synergies we create will sharpen our competitive edges in asset management. We believe that with joint efforts, Gaw Capital will be able to further advance sustainable growth and navigate distressed opportunities in Hong Kong.”

The management at CSI would like to extend our sincere gratitude to all our shareholders and partners for their continuous support. This strategic fundraising exercise, along with the collaboration with our new strategic investor Gaw Capital, is a strong testament to the long term growth and development of CSI.

– END –

About CSI Properties Limited (SEHK: 497)

CSI Properties Limited is listed on the Hong Kong Stock Exchange. CSI has successfully leveraged on its management’s strength in identifying strategically located properties and repackaging and repositioning them to improve rental yield, thereby bringing capital value enhancement.

CSI Group currently owns and manages a number of prime investment properties in Hong Kong, Shanghai and Beijing, including all Ground Floor shops of Capital Centre in Wanchai; 30% interest in an commercial office at No. 38 Wai Yip Street in Kowloon Bay; lower F&B floors at LL Tower, No. 2-4 Shelly Street, Central: the FOCO building at Nos. 46 and 48 Cochrane Street, SOHO, Central; new commercial building at Nos 92-96 Wellington Street, commercial development site at and Nos. 152-156 Wellington Street, Central; 51% intertest in the site of ex-Novotel Hotel (being redeveloped) in prime West Kowloon; 25% interest in Harbourside HQ in Kowloon Bay; Hong Kong Health Check Tower in prime West Kowloon; two floors of the Broadway Centre at the Rua Do Campo in downtown Macau, and the In Point and Richgate Plaza, two prime retail arcades in Shanghai.

About CSI Properties (Couture Homes) Limited

CSI Properties (Couture Homes) Limited is the wholly owned subsidiary of CSI Properties Limited (Stock code: 497) set up in 2011 to develop luxury residential developments in Hong Kong and the PRC. With Haute Couture (the tradition of tailoring exclusive custom-fitted clothing for privileged customers) as its blue-print concept, CSI Properties (Couture Homes) Limited specializes in crafting special residences made to order for private clients. CSI Properties (Couture Homes) Limited is actively expanding its presence in the luxury property market, in addition to DUKES PLACE, Cadenza and 8-12 Peak Road, other developments in progress include No.44 Stanley Village Road Project, No.92 Repulse Bay Road Project, High Peak at Po Shan Road Project, Topside Residence at Nathan Road project, Phase 5 Wong Chuk Hang Project, Yau Tong Project, and a luxury apartment development called Knightsbridge located in the heart of the Beijing city in Dongcheng district.

About Gaw Capital Partners

Gaw Capital Partners is a uniquely positioned private equity fund management company focusing on real estate markets in Asia Pacific and other high barrier-to-entry markets globally. Specializing in adding strategic value to under-utilized real estate through redesign and re-positioning, the firm’s investments span the entire spectrum of real estate sectors, including residential development, commercial offices, retail malls, hospitality, logistics warehouses and IDC projects.

Since its inception in 2005, Gaw Capital has raised seven commingled funds targeting Asia Pacific regions. The firm also manages value-add/opportunistic funds in the US, a Pan-Asia hospitality fund, a European Hospitality Fund, a Growth Equity Fund, and it also provides services for credit investments and separate account direct investments globally.

Gaw Capital has raised equity of US$22.9 billion since 2005 and commanded assets of US$35.8 billion under management as of Q3 2024.

For enquiries, please contact:

CSI Properties Limited:
Mr. Joseph Fung
Tel: (852) 2878 2813
Mobile: (852) 9191-1435
Fax: (852) 2536-9312
Email: joseph@csigroup.hk

Intelligent Joy Group(PR Firm)
Grace Ge/Anne Lin
Tel: (852) 3594 6407 / (852) 9828 9929
Email: pr-team@intelligentjoy.com

 

Wingderm® at IMCAS: Showcasing the Latest Innovations in Laser Hair Removal and RF Technology

BEIJING, Feb. 2, 2025 /PRNewswire/ — Wingderm® once again participated in IMCAS World Congress from 30th January to 1st February 2025, presenting its core devices and newest platforms. The showcased devices included Lasermach Duo, Lasermach, Renuva, Mesoskin, and and other advanced solutions.

Wingderm® at IMCAS
Wingderm® at IMCAS

Wingderm®’s Booth Bustling with Visitors
Wingderm®’s booth was constantly bustling with visitors, drawn by professional device presentations and in-depth technical discussions.  Industry experts and quality-focused practitioners were eager to engage and exchange ideas.  The interaction helped them gain a deeper understanding of Wingderm®’s brand concept and device advantages.

Lasermach Duo: A Milestone in Laser Hair Removal Innovation

Lasermach Duo, the newest generation of laser hair removal solution, offers effective treatments for all hair types and skin tones with three wavelengths. Dual handpieces with an innovative connection structure for easy installation, combined with an enhanced cooling system, enable practitioners to achieve excellent clinical results while providing beauty seekers with efficient and comfortable treatments. Lasermach Duo is equipped with WiCAN (Wingderm® Intelligent Connection CAN Bus), an embedded underlying interconnection platform, which enables seamless data interaction and remote control. Lasermach Duo is a great addition to medical spas and clinics, whether they have been operating for years or are just starting out.

New Radiofrequency(RF) Device Preview
At the “Tech-Driven Beauty” conference, Wingderm® unveiled its latest breakthrough in RF technology, marking the company’s official entry into the RF field. The device, currently in development, integrates cutting-edge RF technology to deeply stimulate collagen regeneration, providing firming and anti-aging effects. During the conference, attendees had the opportunity to learn more about the RF device’s design and technology, and they expressed great anticipation for its market value.

About Wingderm®

Wingderm® since its establishment in 2016, with the aim of “Aesthetics & Technology, Easy to Achieve”, provides leading and reliable intelligent photoelectric medical aesthetic devices, which have been exported to more than 80 countries, with over 15,000 units installed, recognized for safety and effectiveness by experts and beauty seekers.

For more information, visit: https://www.wingderm.com/

D’Open Kitchen and KrisFlyer Team Up for an Exclusive Valentine’s Day Culinary Experience

SINGAPORE, Feb. 2, 2025 /PRNewswire/ — D’Open Kitchen, a leading culinary school specializing in interactive cooking experiences and team-building workshops, is proud to announce a special collaboration with KrisFlyer, Singapore Airlines’ renowned frequent flyer program. This partnership presents an exclusive Valentine’s Day-themed cooking class, designed to offer couples a unique and immersive dining experience.

Team-Building and Bonding experiences
Team-Building and Bonding experiences

Taking place on February 14 and 15, 2025, the event invites KrisFlyer members to don their aprons and step into the kitchen, where they will create a romantic three-course meal under the expert guidance of professional chefs. Participants will not only learn valuable culinary skills but also enjoy a memorable bonding experience in a warm and intimate setting.

Elevating Culinary Experiences with D’Open Kitchen

With over a decade of experience in culinary education and corporate engagement, D’Open Kitchen is known for its innovative and hands-on approach to cooking. The company offers a range of team-building and bonding experiences, including:

  • Cooking Team Building – A dynamic and competitive experience designed to strengthen collaboration, communication, and problem-solving skills among teams.
  • Cooking Team Bonding – A more relaxed, non-competitive culinary activity that fosters camaraderie and meaningful connections.
  • Customized Culinary Workshops – Tailored cooking sessions crafted to meet the unique needs of corporate groups, private events, and special occasions.

This collaboration with KrisFlyer underscores D’Open Kitchen’s commitment to creating exceptional culinary experiences that blend learning, teamwork, and gastronomy. Through this partnership, the company continues to redefine interactive dining, offering an elevated and engaging experience for food lovers and aspiring chefs alike.

How to Participate

Exclusive to KrisFlyer members, this Valentine’s Day cooking class is a one-of-a-kind event that promises a romantic and interactive gastronomic adventure. More details, including how to book a slot, can be found on KrisFlyer Experiences.

For more information about D’Open Kitchen and its culinary programs, please visit www.dopenkitchen.com.sg.

Research Reveals Talent Shortages and Manual Processes are Stifling Finance Teams in Construction

MELBOURNE, Australia, Feb. 2, 2025 /PRNewswire/ — A new report has revealed significant challenges facing construction finance teams across Australia and New Zealand, with talent shortages, outdated systems, and manual processes topping the list of concerns. The findings by Payapps, an award-winning construction software solution trusted by thousands of main contractors and subcontractors to simplify and standardise progress payment claims, highlight the urgent need for digital transformation to alleviate pressure on finance professionals and enhance operational efficiency.

Building Efficient Finance Teams with Construction Technology: Payapps' report reveals how ongoing talent shortages and outdated processes are impacting construction finance teams and highlights the critical role of digital transformation in overcoming these challenges.
Building Efficient Finance Teams with Construction Technology: Payapps’ report reveals how ongoing talent shortages and outdated processes are impacting construction finance teams and highlights the critical role of digital transformation in overcoming these challenges.

Conducted among 125 finance professionals, the survey underscores talent shortages as the most pressing issue, with 36% of respondents identifying it as their biggest challenge. This is compounded by dissatisfaction with manual workflows, particularly in managing progress claims, with 37% of finance teams expressing dissatisfaction with their current systems.

“Construction finance teams are being asked to do more with less, all while ensuring compliance with strict regulations like the Security of Payment Act in Australia and the Construction Contracts Act in New Zealand,” said Daniel Giles, CFO of Payapps. “These inefficiencies not only increase stress on teams but also jeopardise project timelines and financial stability.”

Key Findings:

  • Manual Processes Hamper Progress: A staggering 41% of teams still rely on manual processes for progress claims, leading to bottlenecks and delays.
  • Compliance Risks: 53% of respondents find meeting payment deadlines under regulatory frameworks challenging, risking legal penalties and disputes.
  • Technology Adoption Pays Off: Teams using Payapps are 81% more likely to meet compliance deadlines and experience fewer delays, highlighting the value of specialised digital tools.

The report also reveals that adopting digital tools significantly improves efficiency and job satisfaction. Finance teams leveraging technology report spending less time on manual tasks, freeing them to focus on strategic priorities.

A Call for Digital Transformation

With finance teams under pressure to manage growing workloads and navigate complex regulatory environments, the report advocates for adopting integrated digital solutions. Tools like Payapps, which automate and streamline progress claim processes, are identified as critical to addressing inefficiencies and retaining top talent.

“This report is a wake-up call for the construction industry,” added Giles. “Investing in technology isn’t just about efficiency; it’s about staying competitive, retaining skilled professionals, and delivering better project outcomes.”

The full report, “Building Efficient Finance Teams with Construction Technology,” is available for download here.  The survey was conducted by Payapps and included responses from finance professionals from commercial construction companies in Australia and New Zealand.   Payapps thanks their partners, including Accounting Times and Accountants Daily, for inviting subscribers to participate in this survey. We also sincerely thank our valued customers for their participation.

About Payapps

Payapps – An Autodesk Company, is a cloud-based collaboration tool for the construction industry. It helps main contractors and subcontractors simplify and streamline project progress claims and approvals, including contract variations.  A simpler and faster digital process ensures greater transparency, increased accuracy, improved compliance, reduced financial risk, fewer disputes and fairer outcomes. Payapps significantly cuts progress payment processing time, helping to meet regulatory requirements. Compliance is improved and made easier with documentation verification integrated with the approval process.Our award-winning solution seamlessly integrates with a wide range of construction ERPs and accounting software to help provide real-time data on all project payment requests and approvals.  Build Better Together With Payapps

From Nuremberg, out into the world: energy-charged Spielwarenmesse generates high spirits in the market

  • Higher quality and more international visitor profile
  • New networking formats prove popular

NUREMBERG, Germany, Feb. 2, 2025 /PRNewswire/ — The Spielwarenmesse is the global meeting point for an entire industry. From 28 January to 1 February 2025, it came together in Nuremberg for the 74th time – and succeeded in matching last year’s very high numbers. 2,362 exhibitors from 71 countries presented their innovations and trends in a significantly enlarged space and made successful use of the expanded range of options offered by the organiser, Spielwarenmesse eG. The amended hall structure, event-packed Specials and new networking opportunities helped some 57,500 visitors from 126 nations to navigate their way, easily and enjoyably, through the diverse range of products.

The Spielwarenmesse in Nuremberg was once again the global meeting place for the industry from January 28 to February 1, 2025. (Copyright: Spielwarenmesse eG/Lennart Preiss)
The Spielwarenmesse in Nuremberg was once again the global meeting place for the industry from January 28 to February 1, 2025. (Copyright: Spielwarenmesse eG/Lennart Preiss)

“Every year, we are delighted to take part in the Spielwarenmesse in Nuremberg, which is the must-attend event for toy industry professionals,” says Daniel Levy, CEO of Buki France. Just as last year, 97% of exhibitors share his opinion, considering attendance at the world’s leading event to be important or very important. “Our stand has been busy all day, every day – there’s a real buzz around the show,” commented Alison Coates of UK-based Just Play enthusiastically. Exhibitors rated the general quality and quantity of visitors as higher, and likewise the size of sales agreed. “Exactly the right decision-makers were there, the ones with a genuine interest in our products,” said Sutepan Ganendiran, MD of the German startup company Compactoys emphatically. Massimo Pescarolo from Cicaboom of Italy noted: “The Spielwarenmesse is the only global exhibition for toys.” Important European markets saw increases in visitor numbers. The USA and China were also among the top 10 countries for visitors. The increasingly international relevance of the fair was also noted by Thomas Eichhorn, MD of MGA Zapf Creation from Germany, who remarked that “the big American retailers such as Target and Walmart had intensive conversations with the teams from our HQ.” And other major US-based players, too, felt that the Spielwarenmesse was becoming increasingly important. “Spielwarenmesse is always an exciting start to the event calendar for the team at Hasbro,” reveals Bhavesh Somaya (Senior Vice President & General Manager EMEA & APAC). “Mattel always launches substantial major developments in Nuremberg, such as the ’80th Ruby Anniversary Collection’,” adds MD Sebastian Trischler.

The barometer of exhibitors’ opinion was also on the rise in terms of service and activities. “The continuous marked improvement in content at the Spielwarenmesse was clearly appreciated,” confirms Christian Ulrich, Board Spokesperson at Spielwarenmesse eG. The addition of Hall 3C, accommodating Baby & Infant Articles and Lifestyle Products, made efficient circuits around the fair easier and created synergies. “We love the new hall and the stand we have there – it was a real benefit to us,” commented a delighted Christian Vollmer of Fehn, Germany. The modern design of the Toy Business Forum and its new-style presentations was likewise well received. Those presentation formats included the fireside chat with CEOs and the ToyPitch on the first day of the fair, at which twelve exhibitors gave brief 3-minute presentations on their new products. Once again the ToyAward – the prestigious industry prize in six product categories – was presented live on the big stage. “Winning was a tremendous honour, putting us as a small toy business on the radar with international trade,” says Yusuf Beyaz, CEO at Swiss startup Qubs. Further highlights included the highly topical Specials ‘Sport, Leisure, Outdoor’ with its halfpipe stunt shows, and ‘Toys for Kidults’, where products targeted to the affluent adult market were brought to life in the heavily frequented central entrance (Eingang Mitte). “We appreciate the variety of formats that make it possible to present new products in the best possible way,” says Evgeni Melan, COO of Augmented Robotics from Germany. He found the two ToyTrends, ‘Anime & Friends’ and ‘Healthy Heroes’ particularly exciting in this respect.

Exhibitors gave the topic of networking the highest rating. “It is noteworthy that the Spielwarenmesse enables an unparalleled industry gathering, a trend-setting platform, networking opportunities and of course media exposure,” remarks Anirudh Bhargava, CEO Tribal Earth Sounds India. At the fairly new but already well established RedNight event, about a hundred exhibitors transformed their stands into true party areas for Thursday evening. To Diego Motto of the Italian manufacturer Giochi Preziosi, RedNight is perfect for meeting suppliers and retailers: “The networking events have helped us to make new contacts and catch up with old friends.” Opportunities for individual discussions were also to be found at the LicenseLounge with its networking area and at the Internationale Spieleerfindermesse – Game Inventors Convention with its evening event, GamingHour. Fans of model vehicles enjoyed another premiere with the induction ceremony to the Model Car Hall of Fame.

Exhibitors had high praise for the way the Spielwarenmesse maintained its family character despite its immense size. “It feels like a sort of friendship gathering every year.” says Kovit Chomphunuchyanyong, Managing Director of the well-known Thai company Plan Toys. “Its positive and happy atmosphere makes it an event to visit every year,” concludes Kheir Houeiss, proprietor of Bulgarian company Invictus 1928. In total, 96% of participants would recommend other companies to attend. The next opportunity will be for the fair’s 75th birthday; the anniversary edition takes place from 27 to 31 January 2026.

Spielwarenmesse®
The world’s leading event for the sector – that’s the Spielwarenmesse®. At this B2B event, key players as well as startups present their innovations and trends to retailers from all over the globe, live in Nuremberg. Alongside the extensive range of products, participants also gain a wealth of inspiration for day-to-day business together with valuable knowledge and useful guidance on the market, at what is for them the most significant industry gathering. The event is complemented by year-round coverage of themes, analyses and insights from the multifunctional platform Spielwarenmesse® Digital and the e-journal ‘Spirit of Play’. Since 2013, the term Spielwarenmesse® has been a protected word mark in Germany.
Fair date: Spielwarenmesse®, Tuesday to Saturday, 27 – 31 Jan 2026

Celebrate the Chinese New Year with Guangdong

GUANGZHOU, China, Feb. 1, 2025 /PRNewswire/ — News report from GDToday.

Guangdong has extended an exclusive invitation to the guests to experience an extraordinary Chinese New Year.

This video takes you through the heart of Guangdong’s festive traditions — Yingge dance, fire dragon dance, mouth-watering local delicacies, stunning cityscapes, and more, all in one exciting, action-packed clip. As we show you the rapid growth and energy of Guangdong, we’re also rolling out the red carpet for friends from around the world to come and join the celebrations here in Southern China.

Watch now and feel the festive vibes of the most vibrant Chinese New Year celebration!

ZEEKR Announces January 2025 Delivery Update

HANGZHOU, China, Feb. 1, 2025 /PRNewswire/ — ZEEKR Intelligent Technology Holding Limited (“ZEEKR” or the “Company”) (NYSE: ZK), a global premium electric mobility technology company, today announced its delivery results for January 2025.

ZEEKR delivered 11,942 vehicles in January 2025. As of the end of January 2025, ZEEKR’s cumulative deliveries reached 430,698.

At CES 2025 in Las Vegas, ZEEKR announced various key advancements spanning strategy, technology, and product offerings. Highlights included a collaboration with Qualcomm Technologies, Inc. to spearhead innovation in intelligent cockpit development. This partnership underscores ZEEKR’s dedication to providing cutting-edge driving experiences. ZEEKR also introduced the world’s first OEM-produced, self-developed intelligent driving domain controller based on NVIDIA DRIVE AGX Thor, a testament to the Company’s commitment to autonomous driving technology. Further solidifying its position in the EV charging infrastructure, ZEEKR announced the rollout of ZEEKR Energy’s overseas 800V ultra-fast charging network. Finally, ZEEKR generated excitement for the future mobility with the announcement of ZEEKR RT, the world-first mass-produced purpose-built vehicle for autonomous mobility with deliveries slated to begin in 2025.

About ZEEKR              

ZEEKR (NYSE: ZK) is a global premium electric mobility technology brand from Geely Holding Group. ZEEKR aims to create a fully integrated user ecosystem with innovation as a standard. ZEEKR utilizes Sustainable Experience Architecture (SEA) and develops its own battery technologies, battery management systems, electric motor technologies, and electric vehicle supply chains. ZEEKR’s value is equality, diversity, and sustainability. Its ambition is to become a true mobility solution provider.

ZEEKR operates its R&D centers and design studios in Ningbo, Hangzhou, Gothenburg, and Shanghai and boasts state-of-the-art facilities and world-class expertise. Since ZEEKR began delivering vehicles in October 2021, the brand has developed a diversified product portfolio that primarily includes the ZEEKR 001, a luxury shooting brake; the ZEEKR 001 FR, a hyper-performing electric shooting brake; the ZEEKR 009, a pure electric luxury MPV; the ZEEKR 009 Grand, a four-seat ultra-luxury flagship MPV; the ZEEKR X, a compact SUV; the ZEEKR 7X, a premium electric five-seater SUV; the ZEEKR MIX; and an upscale sedan model. ZEEKR has announced plans to sell vehicles in global markets, and has an ambitious roll-out plan over the next 5 years to satisfy the rapidly expanding global EV demand.

For more information, please visit https://ir.zeekrlife.com/.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “future,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to,” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor Relations Contact

In China:

ZEEKR Intelligent Technology Holding Limited
Investor Relations
E-mail: ir@zeekrlife.com

Piacente Financial Communications
Tel: +86-10-6508-0677
E-mail: zeekr@thepiacentegroup.com

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: zeekr@thepiacentegroup.com