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Tongcheng Travel 2025Q1 Secures Foothold in the Mass Travel Market Revenue Grows 13.2% Yoy to RMB4.4 Billion

Rising Travel Spending Boosts Core OTA Business Growth

AI Empowers High-Quality Development Across the Travel Industry Chain

HONG KONG, May 23, 2025 /PRNewswire/ — Tongcheng Travel Holdings Limited (“Tongcheng Travel” or the “Company”, together with its subsidiaries the “Group”, stock code: 0780.HK), an innovator and leader in China’s online travel industry, today announced its unaudited consolidated results for the three months ended 31 March 2025 (the “period under review” or “2025Q1”).

202 5Q1 Results Highlights with Year-on-year (yoy) Change

Continued Growth Momentum in Revenue and Adjusted Net Profit

●       Revenue increased by 13.2% yoy to RMB4,377.4 million

●       Adjusted EBITDA increased by 41.3% yoy to RMB1,159.4 million, adjusted EBITDA margin increased 5.3 percentage points yoy to 26.5%

●       Adjusted net profit increased by 41.1% yoy to RMB788.2 million, adjusted net margin increased 3.6 percentage points yoy to 18.0%

User Base and User Value Consistently Grew

●       Monthly paying users (MPUs) for the first quarter increased by 9.2% yoy to 46.5 million, reaching a record high

●       Annual paying users (APUs) increased by 7.8% yoy to 247.3 million, setting another record

●       Accumulated number of travelers served in the 12-month period increased by 7.3% yoy to 1,959.5 million

Soild Growth in Core OTA Business

●       Revenue of core OTA business increased by 18.4% yoy to RMB3,792.4 million

‣      Revenue from transportation ticketing services increased by 15.2% yoy to RMB 2,000.2 million, with international air ticket volume recording a growth rate of over 40% yoy

‣      Revenue from accommodation reservation services increased by 23.3% yoy to RMB1,189.6 million, with international hotel room nights sold registering a yoy increase of over 50%

‣      Revenue from other businesses increased by 20.0% yoy to RMB602.6 million

Mr. Ma Heping, Executive Director and Chief Executive Officer of Tongcheng Travel, said, “Since the beginning of 2025, China’s travel market remained steady growth, driven by the release of diversified travel demand and the continuous rise in consumption power in non-first tier cities in China. We maintain an optimistic outlook on the growth of China’s travel industry in 2025 and remain confident in the growth prospects of the outbound travel market this year. Looking ahead, Tongcheng Travel will continue to deepen its presence in the mass travel market and actively invest in AI capabilities, delivering smarter and more efficient travel services to the public while contributing to the high-quality development of the travel industry.”

Deepened Presence in the Mass Travel Market with Record Number of Annual Paying Users
Through effective user acquisition and user engagement initiatives, Tongcheng Travel continued to expand its user base and drive improvements in user value. Leveraging efficient traffic acquisition strategies and exceptional operational capabilities, the Group continued to gain users and further expanded its influence in the mass market in China. For the first quarter of 2025, the Group’s MPUs increased by 9.2% yoy to 46.5 million and APUs increased by 7.8% yoy to 247.3 million, both recorded historic highs with twelve-month Accumulated Number of Travelers Served increased by 7.3% yoy to 1,959.5 million.

Tongcheng Travel not only diversified its traffic sources by exploring the potentials of various channels, but also focused on improving operational efficiency to enhance conversion. Under the stable cooperation with Tencent, the Group remained focused on enhancing its operating efficiency within the Weixin ecosystem, which continued to serve as a vital source of traffic for the Group. Meanwhile, the Group’s proprietary APP also made notable progress, attracting a significant number of younger users through continuous product refinement and interactive marketing campaigns. For the first quarter of 2025, the DAUs of the standalone APP continued to exhibit strong growth momentum. Furthermore, the Group has stepped up the distribution of creative content on social media platforms to boost user engagement and user stickiness. As of 31 March 2025, over 87% of registered users resided in non-first tier cities in China. During the period under review, over 68% of new paying users on the Weixin platform were from non-first tier cities in China.

Enhanced Travel Spending Drove Core OTA Business Growth
During the period under review, China’s travel demand shifted from “essential travel” to “leisure and vacation”. In order to meet the diverse mass travel demand, Tongcheng Travel focused on the “first mile” and “last mile” of user journeys, building a comprehensive travel product system. Driven by ongoing enrichment of the value-added product and service offerings, as well as a stronger focus on the ROI of marketing investments, the Group registered solid growth for its core OTA business. Revenue from transportation ticketing services increased by 15.2% yoy to RMB2,002.2 million. Benefiting from the effective execution of international expansion strategy and optimized efficiency of user subsidies, the Group’s international air ticketing volume increased by more than 40% yoy. As for the train ticketing business, Tongcheng Travel remained concentrated on enhancing user experience by leveraging its algorithm-driven Huixing system, in an effort to better meet user demand. As a result, the train ticketing business improved its monetization capability and recorded a stable growth.

The Group’s accommodation business also delivered impressive results in business volume and revenue. On one hand, the Group continued to implement its cross-selling strategies by utilizing the vast traffic from the transportation business. On the other hand, the Group closely monitored evolving user demands and actively explored emerging accommodation reservation scenarios to capture new growth opportunities, such as entertainment and sport events. Revenue from the accommodation business increased by 23.3% yoy to RMB1,189.6 million. In addition, Tongcheng Travel further deepened cooperation with international hotel suppliers and expanded the coverage of its product and service offerings, with the aim of strengthening price competitiveness as well as user engagement. Therefore, the Group’s international hotel room nights sold maintained a strong growth momentum during the period under review, with a yoy growth rate exceeding 50%.

The Group’s other businesses demonstrated solid performance. Revenue from the other businesses achieved RMB602.6 million with a 20.0% yoy growth, driven by strong performance in the hotel management business and PMS business. By the end of March 2025, the number of hotels in operation that have joined the eLong Hotel Technology Platform has risen to over 2,500, with over 1,400 more in the pipeline.

Advanced Technology Enabled Industry Transformation
AI Ushered in the New Era of Smart Travel
Tongcheng Travel is dedicated to empowering industry partners and delivering exceptional experiences to its users with its profound internet expertise and advanced technologies. During the period under review, the Group initiated a strategic collaboration with China United Airlines Co., Ltd, aiming to fully leverage its advantages in membership marketing, technology and customer service to conduct joint marketing campaigns across online and offline channels. Additionally, Tongcheng Travel entered into a strategic cooperation with Wuhan Tianhe International Airport. By leveraging its big data capabilities, the Group will help the airport optimize its flight planning as well as enhance its brand awareness. Moreover, the Group will also deepen collaborations in areas such as marketing, connecting flights and membership programs.

As a technology-driven company, Tongcheng Travel strategically integrated emerging technologies to deliver seamless and comfortable travel experiences for its users. During the period under review, the Group upgraded its proprietary tourism-specific large language model Chengxin and launched the AI agent DeepTrip, which integrates the reasoning capabilities of DeepSeek and the supply chain advantages of its OTA platform. Not only can DeepTrip assist users in planning complex travel itineraries but also enable direct access to booking services on its platform, creating a seamless transaction loop. In addition, the Group has equipped its employees with a series of generative AI tools to further enhance internal efficiency. For coding tasks, generative AI has greatly reduced the staff’s workload. In customer service, the Group has utilized the reasoning capabilities of generative AI to address user requests more effectively and efficiently. Currently, generative AI handles a meaningful portion of online inquiries related to accommodation reservations and will be applied to more scenarios in the coming quarters.

Furthermore, HopeGoo, the new international online travel booking platform under Tongcheng Travel, has been in full operation. It provides reservation services in six key areas including flights, hotels, train tickets, tickets, ferry tickets, and local activities, and supports payments in 16 currencies and multiple languages. Meanwhile, some hotel brands under eLong Hotel Technology, the hotel technology platform of Tongcheng Travel, have expanded to countries including Japan, Malaysia and Indonesia, aiming to provide diverse and high-quality accommodation experiences for global consumers.

Looking ahead, Tongcheng Travel will continue to strengthen its core competitiveness and actively seize new market opportunities to achieve sustainable growth. While expanding the user base, the Group will prioritize enhancing user value by enriching its product offerings, improving user experience and enhancing user loyalty. At the same time, the Group will continue to advance its outbound travel business to expand its global footprint. Furthermore, the Group will persist in developing its hotel management business to further strengthen its presence across the industry chain. Moreover, the Group will pursue strategic investment opportunities aligned with its long-term objectives to fuel future growth. Finally, Tongcheng Travel will place emphasis on corporate governance, environmental protection, and social responsibility in its operations to generate sustainable value for all stakeholders.

– End –

About Tongcheng Travel Holdings Limited (HKSE Stock Code: 0780.HK)

Tongcheng Travel is a one-stop shop for users’ travel needs. With the mission “make travel easier and more joyful”, Tongcheng Travel offers a comprehensive and innovative selection of products and services covering nearly all aspects of travel, including transportation ticketing, accommodation reservation, tourist attraction ticketing, and products including package tour, self-guided tour and cruise, including a wide array of transportation and leisure travel scenarios primarily through its online platforms, which comprise its Tencent-based platforms, its proprietary mobile Apps, quick Apps and other channels.

As a technology-driven company, Tongcheng Travel leverages big data and AI capabilities to better understand the preferences and behaviors of users, thereby offering users customized products and services. Tongcheng Travel has a strategic focus on lower-tier cities in China and seized opportunities there supported by its diversified traffic sources, product innovation capability and flexible operation strategies. Through the in-depth understanding of user experience and advanced technological capabilities, Tongcheng Travel has been revolutionizing what consumers expect from the online travel industry, making the entire travel process more convenient, personalized and enjoyable than ever. Tongcheng Travel aims to develop and apply its advanced technology to transform from an online travel agency to an intelligent travel assistant.

For more information, please visit the Group’s website at https://www.tongchengir.com

Leptage Debuts at TOKEN2049 Dubai: Showcasing Innovations in Web3 Infrastructure

WARSAW, Poland, May 23, 2025 /PRNewswire/ — Leptage, a modern fintech platform catering to global ambition, recently made its significant debut at TOKEN2049 Dubai, one of the most anticipated global crypto events in the Web3 ecosystem. Through its active participation at the event, Leptage captivated both attendees and industry leaders, marking an important step in expanding its presence within the global crypto community.

Hosted at the prestigious Madinat Jumeirah from April 30 to May 1, TOKEN2049 Dubai attracted over 15,000 participants from more than 160 countries, including industry pioneers, innovators, regulators, developers, and institutional investors. Leptage’s involvement went beyond sponsorship, reflecting the company’s ongoing commitment to advancing industry knowledge, fostering regional growth, and supporting community empowerment. TOKEN2049 served as a valuable platform for exchanging insights and driving innovation, echoing the vision that Leptage continues to champion.

At TOKEN2049, Leptage introduced key updates to its core infrastructure products, reflecting its continued innovation in shaping the future of crypto transactions and blockchain technology. The enhanced Ramping service enables real-time fiat-to-crypto conversions across more than 180 countries, while Treasury delivers more agile and secure management of stablecoins and digital assets. CardLink, a cutting-edge crypto wallet management infrastructure that provides seamless and secure integration for crypto card services. These updates demonstrate Leptage’s commitment to providing seamless, compliant, and scalable pathways that bridge Web2 and Web3.

Leptage’s participation at TOKEN2049 Dubai marked a pivotal step in its global journey. Leptage continues to bridge Web2 and Web3 with cutting-edge solutions that drive real-world adoption. Looking ahead, Leptage remains focused on advancing blockchain technology and shaping the next wave of Web3 innovation.

About Leptage

Leptage is a modern fintech platform catering to global ambition.

Regulated in Poland, our headquarters is situated in Warsaw. We have expanded our operations to include strategic teams in Hong Kong, the United Kingdom, and Singapore. Our international footprint is a testament to our commitment to serving clients worldwide.

At Leptage, we pride ourselves on providing fully compliant, cutting-edge solutions that harmoniously integrate advanced technology with a user-centric design. We aim to build a more secure, efficient, and seamless financial landscape by breaking down barriers and bridging gaps for boundless businesses.

www.leptage.com

Compass Mining Partners with Synota’s “Impact Mining” Initiative to Transform Bitcoin Hashrate into Community Impact

Initial donation supports a hospital and village in Nigeria, with plans for further expansion

WILMINGTON, Del., May 23, 2025 /PRNewswire/ — Compass Mining, a leading provider of Bitcoin mining infrastructure and services, proudly announces its role as the inaugural donor to Synota’s Impact Mining initiative. Through this groundbreaking partnership, Compass is turning Bitcoin’s computing power, or “hashrate”, into a humanitarian resource: affordable, reliable energy for underserved communities.

Through this collaboration with Synota, Compass Mining aims to demonstrate another way the Bitcoin mining industry can contribute directly to energy access, healthcare, and education in underserved communities without leaving the data center.

“This is hashrate with heart,” said Paul Gosker, CEO of Compass Mining. “We’re proud to show our customers and the broader industry how Bitcoin mining can improve lives, not just balance sheets.”

Under the Impact Mining initiative, Compass Mining has directed some of the output of its mining machines to a Bitcoin mining pool configuration provided by Synota and managed on behalf of Renewvia Solar Africa, an operator of clean energy mini-grids in Africa. The revenue generated by this hashrate is used to offset electricity costs for critical infrastructure in Nigeria.

  • At Oloibiri Hospital, Compass’s contribution is helping cover the monthly power bills. This allows the facility to redirect resources to patient care. Serving over 3,600 patients annually and having delivered over 34,000 babies since 2010, this hospital is now empowered to treat hundreds more.
  • In Ozuzu, a rural village connected to a solar mini-grid in 2021, 150 homes, businesses, and a school are now benefiting from a 20% reduction in power costs thanks to Impact Mining. Lower energy prices mean more lighting, more technology use, and ultimately more economic opportunity.

“Bitcoin mining has always been a driver of energy innovation,” said CJ Burnett, Chief Revenue Officer at Compass Mining. “Now it’s a driver of energy opportunity. A small portion of global hashrate is delivering outsized impact for real people.”

Compass Mining views this initiative as a proof-of-concept that mining can be more than profitable; it can be purposeful. Whether through direct machine allocation or partial hashrate donations, every block solved can help power a brighter world. Looking ahead, Synota plans to expand the Impact Mining initiative and Compass Mining intends to continue the partnership.

“We’re thrilled to have Compass Mining lead the way,” said Austin Mitchell, CEO and Co-founder of Synota. “They’ve shown that any miner, anywhere in the world, can take part in Impact Mining simply by redirecting a portion of their hashrate through a shared pool configuration. It’s a small step that can make a big difference. Donating hashrate also offers tax advantages, and we’re building the infrastructure to support that.”

To learn more about Impact Mining, visit synota.io/impact-mining.

About Compass Mining

Compass Mining is a customer-first company that provides a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, build and manage mining facilities, and access a range of ancillary services. With a commitment to exceptional customer support and transparency, Compass Mining sets the benchmark for bitcoin mining hosting. Its mission is to make Bitcoin mining accessible to everyone. To learn more about Compass Mining or to start mining today, visit compassmining.io.

41st WHO Sasakawa Health Prize Awarded to Denmark’s Dr. Merete Nordentoft For Work on Suicide Prevention in Young People

TOKYO, May 23, 2025 /PRNewswire/ — The 41st WHO Sasakawa Health Prize was presented to Danish psychiatrist Dr. Merete Nordentoft in recognition of her work on suicide prevention in young people, during a ceremony at the 78th World Health Assembly in Geneva on May 23.

Dr. Merete Nordentoft (second from left), winner of the 41st WHO Sasakawa Health Prize, poses with Yohei Sasakawa, chairman of The Nippon Foundation (right), WHO Director-General Dr. Tedros Adhanom Ghebreyesus (second from right) and Dr. Teodoro J. Herbosa, president of the 78th World Health Assembly (left), following the award ceremony at the World Health Assembly in Geneva, Switzerland on May 23, 2025.
Dr. Merete Nordentoft (second from left), winner of the 41st WHO Sasakawa Health Prize, poses with Yohei Sasakawa, chairman of The Nippon Foundation (right), WHO Director-General Dr. Tedros Adhanom Ghebreyesus (second from right) and Dr. Teodoro J. Herbosa, president of the 78th World Health Assembly (left), following the award ceremony at the World Health Assembly in Geneva, Switzerland on May 23, 2025.

The award highlights a science- and practice-based strategy for tackling the serious public health issue of suicide, which kills more than 700,000 people worldwide every year and is one of the leading causes of death among 15- to 29-year-olds.

Dr. Nordentoft’s approach to suicide prevention and early intervention in psychosis, particularly among young people, has produced striking results. It has been implemented throughout Denmark and is considered a model for other countries.

In 1998, she launched the OPUS Outreach Treatment Program, an early intervention program for first-time psychiatric patients aged 18 to 45. The program is based on a multidisciplinary team offering weekly meetings with a primary staff member, recovery-oriented groups and family involvement. It has been recognized for reducing hospitalization rates and improving quality of life, as well as for its emphasis on the role of community and family.

The name OPUS (“work”) is taken from the world of music and was chosen to express the need to orchestrate a carefully prepared plan in which the different elements of the program are in harmony with each other. OPUS aims to integrate psychiatric, psychological and social interventions where the interplay between them is crucial.

In accepting the award, Dr. Nordentoft said: “It is a privilege to stand here today—not only for myself, but for the young people with psychosis, their families and the colleagues who have made this journey possible.”  The award, she said, “gives voice to those young people—and reinforces that with the right support, early enough, recovery is not only possible—it is likely.”

The award ceremony was attended by WHO Director-General Dr. Tedros Adhanom Ghebreyesus and the prize was presented to Dr. Nordentoft by Yohei Sasakawa, chairman of The Nippon Foundation.

“This is the first time the prize has honored efforts in the field of mental health,” said Sasakawa, “and Dr. Nordentoft’s work is a pioneering practice, as the WHO’s suicide prevention initiative, LIVE LIFE, emphasizes the importance of strengthening support and prevention measures at the local level, as well as a primary health care approach.”

The prize money of US$30,000 will be used to host a conference that will bring together clinicians, researchers and patients to deepen discussions on optimizing treatments.

Sasakawa Health Prize

The Sasakawa Health Prize was established in 1984 upon the initiative and with funds provided by Ryoichi Sasakawa, then president of the Japan Shipbuilding Foundation (now The Nippon Foundation) and president of Sasakawa Memorial Health Foundation (now Sasakawa Health Foundation), and with the agreement of WHO Director-General Dr. Halfdan Mahler, with the aim of contributing to the realization of WHO’s “Health for All” philosophy. The award recognizes individuals and organizations that have made significant contributions to improving people’s health and well-being through sustainable and effective activities, such as the promotion of primary health care and specific health programs at the local level.

Sasakawa Health Foundation

Sasakawa Health Foundation was established in 1974 by Ryoichi Sasakawa (1899 – 1995), founder of The Nippon Foundation, and Professor Morizo Ishidate (1901 – 1996), the father of leprosy chemotherapy in Japan, for the purpose of eradicating leprosy from the world. Since its establishment, the foundation has maintained its focus on leprosy while also engaging in activities to combat parasitic diseases and HIV/AIDS, providing medical cooperation following the Chernobyl nuclear accident, developing human resources in the field of international health, and improving hospice palliative care. The foundation currently focuses its work on leprosy control and the promotion of community health. It is engaged in a variety of projects both in Japan and overseas, based on the principle of “Better Health and Dignity for All.”

NYSE Content Advisory: Pre-Market update + Hinge Health, MNTN pop double digits in trading debuts

NEW YORK, May 23, 2025 /PRNewswire/ — The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today’s NYSE Pre-market update for market insights before trading begins. 

Kristen Scholer delivers the pre-market update on May 23rd

  • Digital health platform Hinge Health (NYSE: HNGE) saw its stock rise 17% in its NYSE debut yesterday. Shares of TV AdTech company MNTN (NYSE: MNTN) jumped nearly 26% in its NYSE debut as well.
  • Traders continue to evaluate the effect of higher U.S. treasury yields on the economy. Early Thursday, the House GOP advanced President Trump’s sweeping tax bill to the senate. Concerns about the cost of the bill took yields higher.
  • Wall Street is heading into a long weekend with equity markets closed on Monday for Memorial Day.

Opening Bell
The U.S. Navy celebrates Fleet Week New York

Closing Bell
U-Haul (NYSE: UHAL) celebrates its 80th anniversary

Click here to download the NYSE TV App

Video – https://mma.prnewswire.com/media/2695145/NYSE_May_23_Market_Update.mp4 

 

HKSTP and Global Leader Würth Elektronik Launch the First New Engineering Service Programme

A Strategic Partnership Accelerate New Industralisation and Microelectronics Development


HONG KONG SAR – Media OutReach Newswire – 23 May 2025 – Hong Kong’s advanced manufacturing and microelectronics sector received a significant boost today with a three-year strategic partnership between Hong Kong Science and Technology Parks Corporation (HKSTP) and Würth Elektronik. Under this collaboration, Würth Elektronik —a global premier electronic components manufacturer with a R&D base at Hong Kong Science Park—will launch the first pilot Engineering Service Programme in InnoPark. Leveraging its global network, specialised expertise and cutting-edge tools, Würth Elektronik will further strengthen Hong Kong’s advanced manufacturing ecosystem and nurture local tech talent, propelling the city as the international innovation and technology (I&T) and new industrialization hub.

Hong Kong’s advanced manufacturing and microelectronics sector received a significant boost today with a three-year strategic partnership between HKSTP and Würth Elektronik. (Front row from left: Mr Daniel Yu, General Manager, Wurth Electronics (HK) Ltd; Mr Oscar Wong, Head of Innofacturing of HKSTP. Back row from left: Mr Thomas Garz, Chief Executive Officer, Würth Elektronik eiSos Group; Professor Sun Dong, Secretary for Innovation, Technology, and Industry; Mr Albert Wong, Chief Executive Officer, HKSTP)
Hong Kong’s advanced manufacturing and microelectronics sector received a significant boost today with a three-year strategic partnership between HKSTP and Würth Elektronik. (Front row from left: Mr Daniel Yu, General Manager, Wurth Electronics (HK) Ltd; Mr Oscar Wong, Head of Innofacturing of HKSTP. Back row from left: Mr Thomas Garz, Chief Executive Officer, Würth Elektronik eiSos Group; Professor Sun Dong, Secretary for Innovation, Technology, and Industry; Mr Albert Wong, Chief Executive Officer, HKSTP)

Würth Elektronik, a global leader based in Waldenburg, Germany, operates with 23 production sites worldwide, making it one of the most successful entities within the Würth Group. In 2024, the company employed around 7,500 people and achieved sales of 1.02 Billion Euro.

Their Technical Service Centre was established in the Hong Kong Science Park in 2024. Through the Engineering Service Programme, about 100 microelectronics related startups and SMEs in both Science Park and InnoPark will gain access to Würth Elektronik’s essential components and tools, together with business and technical consultation support, speeding up the whole product development cycle ranging from research and development, prototyping to pilot production. Additionally, together with the infrastructure and facilities at Advanced Manufacturing Centre in Tseung Kwan O InnoPark, the high-potential prototyping projects would significantly accelerate their path to commercialisation and mass production.

Würth Elektronik will deliver hands-on skills training, technical workshops, and industry seminars in InnoPark to technology start-ups and local students. The company’s experts will also host insight-sharing sessions with Hong Kong’s industry practitioners on emerging global industry trends, market opportunities, and technical knowledges, positioning the city’s high-skilled talent for global success in the rapidly evolving microelectronics landscape.

Professor Sun Dong, Secretary for Innovation, Technology and Industry, said, “The Engineering Service Programme will equip our local ecosystem with specialised tools and expertise, accelerating progress in microelectronics and advanced manufacturing. From R&D to prototyping and small-scale production, this programme will support companies at every stage – perfectly aligning with the Government’s strategy to foster high-value, tech-driven industries and cement Hong Kong’s role in the global I&T landscape. With Würth Electronics’ global network and HKSTP’s local support, the programme is poised to become a testing ground for next-generation industrial solutions.”

Mr Albert Wong, CEO of HKSTP, said, “Würth Elektronik has been a key enabler of HKSTP’s I&T ecosystem. We are delighted with their strengthened commitment towards Hong Kong’s microelectronics and advanced manufacturing development—a driving force in our ecosystem’s prospects and the potential of our innovative talent. This collaboration will create a substantial impact on our community of 270 microelectronics related companies while delivering strategic value for Würth Elektronik, ultimately catalysing Hong Kong’s agenda in advanced manufacturing and new industrialisation.”

Mr Thomas Garz, CEO of Würth Elektronik eiSos Group, said: “Being the leading electronic components manufacturer, we see the opportunity in Hong Kong. With the global experience in the industry, we utilise the global expertise to help the local market on developing the innovation and technology projects. As an enabler in the whole product life cycle from development to production and then to market, we offer the More Than You Expect experience in the product development journey. Partnering with HKSTP to facilitate the R&D and advanced manufacturing for companies in this ecosystem will further boost up the synergy to contribute the innovation development in Hong Kong.”

The signing ceremony was held at the “Advanced Manufacturing in Hong Kong: Enabling Global Microelectronics Innovations” event. Alongside was a fireside chat hosted by Würth Elektronik’s representatives, academia, start-up founders and industry experts, sharing insights on industry-academia-research collaboration, entrepreneurship, and innovation ecosystem support from HKSTP. The discussion aimed to inspire students about career prospects and opportunities in Hong Kong’s growing microelectronics sector.

Würth Elektronik has successfully supported many park companies, the event also featured an exhibition of the electronics innovations co-created by Würth Elektronik’s partners and HKSTP partner companies benefiting from Würth’s engineering services and Electromagnetic Compatibility (EMC) testing support. The technologies showcased Würth Elektronik’s expertise in accelerating companies’ innovation journey and delivering higher-quality solutions to market more efficiently.

The Hong Kong Special Administrative Region (HKSAR) Government is committed to advancing new industrialisation in Hong Kong with an industry-oriented approach to drive diversified economic growth. Comprehensive support is proactively provided, such as the “New Industrialisation Acceleration Scheme” (NIAS), “New Industrialisation Funding Scheme” (NIFS), and the upcoming “Pilot Manufacturing and Production Line Upgrade Support Scheme (Manufacturing+)”.

HKSTP fully supports the government’s new industrialisation strategy by empowering microelectronics companies with extensive support services and infrastructure, including Hardware Lab, Sensor Packaging and Integration Lab, Heterogeneous Integration Lab (HI Lab), as well as Microelectronics Centre, Advanced Manufacturing Centre and ProShop at the InnoParks. These resources power the entire product lifecycle—from R&D and design to prototyping and commercialisation—offering technologies and services that position Hong Kong as a hub for new industralisation and advanced manufacturing.
Hashtag: #HKSTP

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

About Hong Kong Science and Technology Parks Corporation

Hong Kong Science and Technology Parks Corporation (HKSTP) was established in 2001 to create a thriving I&T ecosystem grooming 13 unicorns, more than 15,000 research professionals and over 2,300 technology companies from 25 countries and regions focused on developing healthtech, AI and robotics, fintech and smart city technologies, etc.

Our growing innovation ecosystem offers comprehensive support to attract and nurture talent, accelerate and commercialise innovation for technology ventures, with the I&T journey built around our key locations of Hong Kong Science Park in Pak Shek Kok, InnoCentre in Kowloon Tong and three modern InnoParks in Tai Po, Tseung Kwan O and Yuen Long realising a vision of new industrialisation for Hong Kong, where sectors including advanced manufacturing, micro-electronics and biotechnology are being reimagined.

Hong Kong Science Park Shenzhen Branch in Futian, Shenzhen plays positive roles in connecting the world and the mainland with our proximity, strengthening cross-border exchange to bring advantages in attracting global talent and allowing possibilities for the development of technology companies in seven key areas: Medtech, big data and AI, robotics, new materials, microelectronics, fintech and sustainability, with both dry and wet laboratories, co-working space, conference and exhibition facilities, and more.

Through our R&D infrastructure, startup support and enterprise services, commercialisation and investment expertise, partnership networks and talent traction, HKSTP continues to contribute in establishing I&T as a pillar of growth for Hong Kong.

More information about HKSTP is available at .

WGC2025 | ENN Leverages “Intelligence + Low Carbon” to Pioneer a New Paradigm for Sustainable Energy Development

LANGFANG, China, May 23, 2025 /PRNewswire/ — From May 19 to 23, 2025, the 29th World Gas Conference (WGC2025), hosted by the International Gas Union (IGU), convened in Beijing. As the premier global event in the energy sector, WGC2025 attracted leading companies and industry experts from around the world to engage in in-depth discussions on cutting-edge gas technologies and the industry’s transition toward low-carbon solutions.

ENN’s exhibition pavilion at WGC 2025
ENN’s exhibition pavilion at WGC 2025

Under the theme “Intelligence Fuels Ecology, Green Energizes Growth,” ENN took an active role in the global dialogue. Through forums, exhibitions, and paper presentations, the company exchanged insights with domestic and international partners, sharing its strategic thinking and innovations in intelligent and low-carbon energy development. At sessions such as “The Future of City Gas,” “Intelligence Accelerating Digital Transformation in the Gas Industry,” and “Smart Energy Systems,” ENN explored industry trends and collaboration opportunities, contributing a distinctive “China Solution” to the sustainable development of the global natural gas industry.

Zhang, Yuying, President of ENN Natural Gas and CEO of ENN Energy, remarked at the conference that as the natural gas industry rapidly embraces market-oriented reform, digitalization, and decarbonization, ENN now serves over 31 million residential users and nearly 300,000 business customers across China. Drawing on its extensive full-scenario practices in the natural gas industry, ENN continues to upgrade its development strategy — fusing industrial expertise with intelligent innovation, to meet the growing demand for safe, cost-effective, energy-efficient, and low-carbon energy solutions. Looking ahead, ENN is committed to working closely with partners both at home and abroad to drive the future development of the natural gas industry and inject fresh momentum into the global green transition.

Building Smart, Resilient Cities through IoT and Intelligence

Livability, resilience, and intelligence are the hallmarks of future urban development. With over 30 years of experience in urban gas services, ENN operates 261 city gas projects across 105 Chinese cities, consistently prioritizing intrinsic safety as the foundation of its development.

In response to national initiatives promoting “better housing, neighborhoods, communities, and cities,” ENN has been accelerating the integration of IoT and intelligent technologies into gas infrastructure and urban lifeline systems. The company has:

  • Deployed intelligent sensors to create a comprehensive safety monitoring network;
  • Built intelligent operation centers for enterprises, enabling data-driven dispatch and risk forecasting;
  • Developed citywide safety supervision platforms to enhance data sharing and collaborative governance.

Through its “IoT + Intelligence + Ecology” model, ENN has activated cross-sector coordination between government, enterprises, and communities, establishing a multi-party urban safety protection system that supports resilient and high-quality urban development.

ENN is also contributing to urban infrastructure renewal by introducing advanced IoT and sensing technologies to upgrade the entire lifecycle of gas pipeline planning, design, construction, and operations. This enables more precise alignment with the needs of new infrastructure development and urban resilience enhancement.

To meet growing consumer demand for quality living, ENN has built intelligent service ecosystems centered on IoT. From smart home gas monitoring to integrated public service networks, ENN is embedding technology into daily life – offering safety, warmth, and convenience form millions of households.

Integrating Intelligence and Industry to Upgrade Gas Services Across Scenarios

ENN is committed to advancing a “green and intelligent” vision by accelerating the intelligent transformation of natural gas services across all use cases. Drawing on more than three decades of industry expertise, the company offers customized smart energy solutions that span customer service innovation, efficient resource allocation, optimized facility operations, and enhanced risk control management.

In 2015, ENN launched the GreatGas, a natural gas expertise & capability platform that connects demand-side users, resource providers, and infrastructure operators. Using AI-driven supply-demand matching algorithms, the platform enables cost-effective resource access for consumers and efficient customer outreach for suppliers. To date, the platform has attracted over 2,000 ecosystem partners and served more than 4,500 enterprises. In 2024 alone, it facilitated 4.5 billion cubic meters of gas transactions, improving resource flow efficiency by 40% over traditional models and driving total transaction volume beyond CNY 100 billion.

Dr. Zhang, Jun, Chairman of ENN’s Technology Committee, emphasized at the forum that AI is accelerating a business model shift toward “customer demand-driven” transformation. By deeply understanding customer needs through smart technologies and enabling flexible, data-driven supply-demand coordination, the industry can achieve a new level of systemic optimization.

Green Innovation for a Low-Carbon Energy Future

Driven by China’s carbon peaking & carbon neutrality goals, the global energy transition is increasingly centered on low-carbon development. End-use sectors such as industry, buildings, and campuses now face urgent challenges in decarbonizing their energy systems.

Since 2009, ENN has pioneered integrated energy solutions, merging energy systems with digital intelligence. With its innovative “Energy-Carbon Integrated Solutions,” ENN provides customized low-carbon transition pathways that deliver both environmental and economic value for clients.

During the “Smart Energy Systems” forum, ENN Energy Vice President and CEO of Xinao Shuneng Technology Co., Ltd. Cheng, Lu, highlighted the imperative for natural gas players to take part in building smart energy systems in the carbon peaking & carbon neutrality era. As of now, ENN’s integrated energy business has served over 4,000 clients nationwide, delivering model projects such as low-carbon parks, factories, and buildings. With an annual sales volume of 41.6 billion kWh, ENN has helped clients cut the use of standard coal by 3.15 million tons and reduce carbon emissions by 12.73 million tons annually, underscoring its commitment to corporate carbon reduction responsibilities.

Looking ahead, ENN will continue its long-term investment in the “intelligence + energy” space. By focusing on customer-centric, data-driven energy-carbon synergy, the company aims to drive cleaner, smarter, and more efficient energy production and consumption, laying the foundation for green and sustainable development across cities and industries.

At ENN’s exhibition pavilion, several innovations drew significant attention from attendees, including flexible service models of the Zhoushan LNG Receiving Terminal, intelligent, low-carbon construction technologies for the entire lifecycle of energy facilities, and breakthroughs in clean energy technologies such as coal-to-hydrogen pyrolysis and LNG production from coke oven gas. These innovations provided compelling, real-world demonstrations of ENN’s contribution to a sustainable energy future.

ENN looks forward to deepening collaboration with partners worldwide. By sharing practical experiences in intelligent and low-carbon transformation, the company aims to co-create a smart, interconnected energy ecosystem, driven by dual engines of intelligence and low carbon, to empower cities and industries in their green transformation journey.

Enterprises from 39 Countries Join WCIFIT, with Thailand, Hong Kong, and Sichuan in the Spotlight

CHONGQING, China, May 23, 2025 /PRNewswire/ — A news report from iChongqing: Over 1,300 enterprises from 39 countries and regions gathered in Chongqing on May 22 for the 7th Western China International Fair for Investment and Trade (WCIFIT), highlighting rising global interest in the region’s economic potential. The event drew participants from 28 Chinese provinces and the Hong Kong Special Administrative Region, showcasing the latest in trade and innovation.

The Sirius quadruped robot was developed by a company in Chongqing Liangjiang New Area and is being exhibited at the WCIFIT. (Photo/ Liu Dan)
The Sirius quadruped robot was developed by a company in Chongqing Liangjiang New Area and is being exhibited at the WCIFIT. (Photo/ Liu Dan)

The fair also featured the debut of Lingjie, the world’s first megawatt-class supercharging heavy-duty truck, co-developed by Qingling Motors and Huawei Digital Power. With ultra-fast charging and smart connectivity, it marks a major step forward in green logistics and heavy-duty transport electrification.

Centered around the theme “New Western China, New Manufacturing, New Services,” this year’s fair highlights cultivating new quality productive forces and promoting high-quality development.

56 Chinese central state-owned enterprises, 156 local state-owned enterprises, 47 Fortune Global 500 companies, 93 multinational corporations, and 286 leading private enterprises participated.

Thailand is participating as the guest country of honor, Sichuan Province continues its role as the permanent guest province, and the Hong Kong Special Administrative Region joins as the new guest city of honor.

Dr. Lalivan Karnchanachari, Vice Minister to Ministry of Foreign Affairs of Thailand, highlighted the significance of this year marking the 50th anniversary of diplomatic ties between China and Thailand. She expressed hopes for deeper cooperation with Chongqing in high value-added manufacturing, supply chains, and SME development.

At the opening ceremony, a series of major investment deals were signed, with the total amount exceeding 200 billion yuan (about 27.6 billion USD). Districts and counties across Chongqing secured agreements worth over 100 billion yuan, with more than 75% of the investment directed toward the manufacturing and modern services sectors.

Showcasing both exhibitions and themed activities, this year’s WCIFIT exhibition spans three major sections—comprehensive image, international and regional cooperation, and modern industry—covering nine halls across 110,000 square meters. A virtual exhibition hall has also been launched to extend access online.

Themed activities include 29 events focused on key areas such as the productive service industry, foreign investment, international trade, public sector engagement, and special programs hosted by the guest of honor.