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The greenback edged higher against a basket of major peers in early European dealings, with the yen drifting back towards levels last seen in the spring and the euro slipping slightly after gains built up over the previous year. Market participants described the move as cautious rather than decisive, reflecting thin liquidity and lingering uncertainty over policy direction in Washington.

Currency strategists said the dollar’s fragile recovery followed heavy selling through much of last year, when expectations of rate cuts by the Federal Reserve and easing inflation undercut the yield advantage that had supported the currency in earlier cycles. At the same time, improving growth prospects outside the United States encouraged investors to rotate towards higher-yielding or undervalued alternatives.

Against the yen, the dollar climbed back towards the upper end of its trading range, hovering near a ten-month high. The Japanese currency has remained under pressure amid a persistent gap between domestic borrowing costs and those in the United States, even as Tokyo has signalled a gradual move away from ultra-loose policy. Traders noted that the yen’s slide was less abrupt than in past episodes, reflecting continued sensitivity to the risk of official intervention.

The euro eased after a strong performance last year, when slowing inflation and steady growth in parts of the euro zone boosted confidence in the region’s economic resilience. Analysts cautioned that the single currency’s trajectory would depend heavily on whether European policymakers deliver further easing or pause to assess wage pressures and fiscal spending plans.

Sterling traded in a narrow band, supported by signs of stabilising inflation but weighed by questions over the durability of domestic growth. Emerging market currencies showed mixed moves, with higher-yielding units holding up better as investors searched for carry opportunities, while those linked to commodities reacted to softer prices in energy and metals.

Market focus remains fixed on forthcoming United States data releases, including employment and inflation indicators that could shape expectations for policy adjustments later in the year. While inflation has moderated from its peak, officials have stressed that decisions will be driven by incoming data rather than preset timelines, a stance that has kept rate forecasts in flux.

Some investors argue that the dollar’s decline last year went too far, pointing to the size and liquidity of United States markets and the economy’s capacity to absorb tighter financial conditions. Others counter that structural forces, including a narrowing growth gap with other advanced economies and rising fiscal deficits, could cap any sustained rebound.

Central banks outside the United States are also recalibrating. In Japan, policymakers are weighing how quickly to normalise after years of stimulus without destabilising markets. In Europe, debates continue over balancing support for growth with the need to anchor inflation expectations. These cross-currents have injected volatility into foreign exchange markets, even as overall trading ranges remain narrower than during periods of crisis.

Commodity prices have added another layer of complexity. Oil has softened amid ample supply, trimming support for currencies of major exporters, while gold’s pullback has reduced its appeal as a hedge against currency weakness. Equity markets have started the year on a cautious note, reinforcing demand for safe and liquid assets.

Largest-ever Hong Kong Tech Pavilion features 3 Innovation Award-winning game-changers showcasing immense potential to scale

LAS VEGAS, US – Media OutReach Newswire – 2 January 2026 – Hong Kong Science and Technology Parks Corporation (HKSTP) and Hong Kong Trade Development Council (HKTDC) will join hands in spearheading the largest-ever Hong Kong Tech Pavilion to the annual Consumer Electronics Show (CES) in Las Vegas from January 6-9 (Tue-Fri). The showcase features 61 tech companies in a dynamic mix of early-stage and mature companies in AI, robotics, healthtech, and sustainability, to signify Hong Kong’s fast-rising technology advancements and the ability to empower innovators in and out of the city to scale imagination to global impact.

Taking centre stage this year, Hong Kong Tech Pavilion stars with several CES Innovation Award winning solutions, as well as world-firsts, in a display of technology strength across the Eureka Park and Global Pavilion that includes companies less than five years old and more established ventures. Highlights include:

• Widemount Dynamics Tech: named Best of Innovation for Product in Support of Human Security for All, their Smart Firefighting Robot is designed to detect fires, navigate smoke-filled environments, provide real-time mapping, and determine the best extinguishing agent to minimize costs and risks for losses of life and asset.
• PointFit: honored under the Digital Health category, the PF-Sweat Patch is an ultra-thin wearable built with patented biomarkers tracking technology, it offers a non-invasive alternative with continuous monitoring of vitals and performance for athletes and wellbeing enthusiasts.
• Eieling Technology: honored under the Digital Health category, FattaLab® is the world’s first intelligence-driven compact fatty liver diagnostic device, delivering assessment results with medical-grade accuracy in just 30 seconds. The high level of convenience promotes early treatment to those who suffer from the disease, enabling immediate preventive care, and potentially boosts longevity.

Happenings such as announcement, product launches and briefings, and conversations to business-match at the Pavilions are lining up. That includes an introduction of GumAI, a smart oral healthcare solution developed by Dentomi, sharing more on the “Dentist coming in handy” approach; a demonstration of how DRESIO puts forth its “AI Physiotherapy for Everyone” solution; the launch of “wuBiee & wuBiee wrap” that moftBODY integrates neuroscience into smart textile onto daily shapewear, and more awaits at the Pavilions. Click here for the full line-up at Hong Kong Tech Pavilion, and schedule your visit now.

In addition, a Hong Kong Tech Networking Reception will be held on Day 2, welcoming all interested parties to engage in conversations of potential partnerships, and explore on business opportunities with Hong Kong tech companies. Registration is now open with details of the Reception as follows:

• Date: 7 January 2026
• Time: 5:30 – 7:30 pm
• Venue: Mercato Della Pescheria, The Venetian

Appendix: List of 61 tech companies at Hong Kong Tech Pavilion, including 47 within the HKSTP ecosystem (in alphabetical order)

Remarks:

• The Hong Kong Tech Pavilion is located across Eureka Park (booth #63200, Hall G) and Global Pavilion (booth #50732, Hall A-D) at The Venetian Expo.

Hashtag: #HKSTP

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HKSTP

More information about HKSTP is available at www.hkstp.org.

Global equity funds attracted sizeable inflows in the final week of 2025, reflecting sustained investor confidence as artificial intelligence-driven gains and expectations of resilient corporate earnings buoyed risk appetite across major markets. Fund flow data compiled from multiple tracking agencies showed investors adding billions of dollars to equity-focused vehicles, extending a trend that had strengthened through the closing quarter of the year.

The late-year surge followed a period of steady gains in global stock indices, underpinned by enthusiasm around productivity improvements linked to AI adoption and comparatively stable macroeconomic conditions in several advanced economies. Technology-heavy markets led the inflows, with North America and parts of Asia drawing particular interest, while Europe also registered net additions after earlier bouts of volatility tied to growth concerns.

Market participants pointed to a recalibration of expectations around monetary policy as another driver. With major central banks signalling that the peak of the tightening cycle had passed, investors appeared more willing to increase exposure to equities, especially companies positioned to benefit from automation, data analytics and cloud computing. Portfolio managers noted that the narrative around AI had broadened beyond a narrow group of mega-cap technology firms, supporting inflows into diversified equity funds rather than only thematic products.

Corporate earnings guidance also played a role in shaping sentiment. As the reporting season unfolded, many large firms indicated that margins were holding up better than feared, aided by cost discipline and selective price increases. While earnings growth varied by sector, analysts highlighted that consensus forecasts for the coming quarters stabilised after repeated downgrades earlier in the year, giving investors greater confidence to deploy capital before year-end.

Flows into emerging market equity funds showed a more nuanced picture. Some regions benefited from improving external balances and easing inflation pressures, which encouraged selective inflows, while others continued to see outflows amid currency volatility and geopolitical uncertainty. Asset managers said global investors remained discriminating, favouring markets with credible policy frameworks and exposure to global technology supply chains.

Bond funds, by contrast, recorded more modest movements during the same period, with some investors reallocating from fixed income to equities as yields plateaued. Mixed flows into money market funds suggested that cash levels remained elevated, reflecting a degree of caution even as equity allocations rose. This balance underscored what strategists described as a “measured optimism” rather than an unqualified risk-on shift.

Industry data indicated that passive equity funds and exchange-traded funds accounted for a significant share of the inflows, highlighting the continued appeal of low-cost vehicles tracking broad indices. Active equity funds also saw net subscriptions, particularly those with mandates focused on innovation, healthcare and industrial automation, sectors viewed as long-term beneficiaries of technological change.

Regional allocation patterns revealed that United States-focused funds captured the largest share of new money, supported by strong performance in technology and communication services stocks. Asia-Pacific equity funds followed, aided by signs of recovery in key economies and policy measures aimed at supporting growth. European equity funds experienced steadier, though smaller, inflows as investors weighed valuation appeal against ongoing structural challenges.

Market analysts cautioned that the momentum seen at the end of the year did not eliminate underlying risks. Valuations in some AI-linked stocks were described as demanding, leaving markets vulnerable to corrections if earnings failed to meet elevated expectations. Geopolitical tensions, trade policy uncertainty and uneven global growth were also cited as factors that could test investor confidence in the months ahead.

“The Forever Gifts: A Natural Diamond Series” the ultimate destination for bespoke natural diamond master creations in Hong Kong, launched with a line-up of activities at Lane Crawford’s flagship retail space in IFC mall. Renowned actress Charmaine Sheh, fashion trendsetter Hilary Tsui, VIPs, media members and influencers from Hong Kong and China were invited to explore exquisite natural diamond collections, thoughtfully curated by Lane Crawford.

This special series starts with a selection of contemporary fine jewellery brands, each offering a unique design story and a commitment to creativity and excellence. They include State Property, YEPREM, Mio Harutaka, KORLOFF and Claudia Ma Fine Jewellery. “This collaboration marks an important moment for Lane Crawford. Together with De Beers, we’re creating a destination that celebrates the beauty of natural diamonds through exceptional craftsmanship and global creativity. This exclusive space reimagines how clients engage with fine jewellery – bringing artistry, innovation, and the opportunity to design something truly personal.” Emily Wong, Senior Vice President of Merchandising at Lane Crawford.

The exclusive event brought a series of interactive workshops led by experts Jodine Bolden and Samantha Sibley from the De Beers Institute of Diamonds alongside London-based multi-disciplinary artist Annette Fernando.

At the natural diamond workshop, participants gained hands-on experience on rough diamond sorting, polished diamond grading, and differentiation of natural diamonds versus synthetics. Participants also had the unique opportunity of viewing a nearby 297-carat rough diamond and kimberlite carrying a 22-carat rough diamond. Also on display was a gem called “Beating Heart”, a 0.329-carat rough diamond that features a smaller diamond moving freely inside its larger counterpart, a rarity that showcases the extraordinary conditions under which diamonds can form. This exquisite piece, recovered by De Beers Group and analyzed at the facilities of De Beers Institute of Diamonds, is recorded on the Tracr platform, giving insight into its history and heritage. Upon completion of the workshop, each participant received a natural diamond masterclass certificate from the De Beers Institute of Diamonds.

“We are pleased to partner with Lane Crawford for this special series of events to proudly recognize the enduring value of natural diamonds, and to honour the artists who continue to bring life to these creations.” says Loletta Lai, Vice President, Natural Diamonds APAC De Beers Group.

Complementing the technical insight offered by the De Beers Institute of Diamonds, artist Annette Fernando shared her art creations inspired by natural diamonds, named The Multi-Faceted Self. Through a reflective coloring workshop, Annette invited participants to explore the transformative journey of natural diamonds as a metaphor for personal growth and resilience.

The partnership between A Diamond is Forever and Lane Crawford spotlights crafted natural diamond pieces sourced and styled from around the globe, the most treasured gifts ever! These iconic legacy brands and exciting new talent alike, all centered around the timeless beauty of natural diamonds, come together at Lane Crawford, the ultimate destination for discovery, craftsmanship, and contemporary luxury.

Featured Brands

Claudia Ma Fine Jewellery
Claudia Ma, driven by a passion for modern high jewelry and an unwavering dedication to quality, founded her eponymous brand, Claudia Ma, in 2000. With a distinctive design sensibility and an eye for artistic aesthetics, she masterfully reinterprets classic themes through innovative modern expressions. Her creations have earned widespread acclaim for their signature style and exceptional craftsmanship. Over the years, Claudia has collaborated with renowned names such as Shanghai Tang, Lane Crawford, and De Beers Group Forevermark, solidifying her brand’s standing in Hong Kong’s fine jewelry landscape.

Her latest work draws inspiration from the barbell as a symbol of balance, focus, and strength. Crafted in 18k gold and accented with natural diamonds, these versatile pieces embody resilience while seamlessly elevating everyday style.

According to Claudia, “Natural diamonds and craftsmanship go hand in hand. Craftsmanship brings out the diamond’s inner brilliance, while my design presents this timeless classic in a modern way for generations to enjoy. Without this artistry, even the finest diamond remains just a hidden treasure.”

State Property
An award-winning contemporary fine jewellery label from Singapore, State Property fuses modern design with traditional craftsmanship. Founded in 2015 by a jeweller and an industrial designer, the brand draws inspiration from culture, literature, and history—bringing to life structured silhouettes in precious metals that embrace the softness of the human form.

“There’s an emotional gravity with natural diamonds that’s hard to replicate, State Property shares. “Their rarity, beauty, and resilience make them extraordinary. Each one a fragment of the earth’s story, time in a crystallised form. We’re drawn to materials that carry meaning, and diamonds embody permanence, memory, and the quiet luxury of time. At State Property, we strive to have those same qualities reflected in our own work — creating jewellery with intention, designed to endure and be cherished across generations.”

YEPREM
Known for its avant-garde creations, House of YEPREM is a family-run brand that continues to push the boundaries of contemporary diamond jewellery. With a legacy rooted in timeless craftsmanship and visionary design, YEPREM’s striking pieces are now celebrated across America, Europe, the Middle East, and Asia.

“Natural diamonds are the ultimate expression of authenticity and endurance, virtues that mirror YEPREM’s journey and craftsmanship. Born from time, pressure, and perseverance, each diamond holds the essence of transformation and strength. Their inherent brilliance and purity transcend trends, embodying emotion and individuality. In YEPREM’s world, a natural diamond is not merely a material, it is the foundation upon which stories of resilience and radiance are told.”

Mio Harutaka
Crafted in Japan by local artisans, MIO HARUTAKA channels the beauty of Mother Nature into every design. The brand, founded in 2011, is committed to achieving diamond traceability and sustainability while maintaining exceptional artisanal craftsmanship. Harutaka shares: “Craftsmanship is essential—it accounts for almost everything. All of these details depend entirely on the skills of the craftsmen. Craftsmanship is what allows me to welcome close, hands-on appreciation, knowing that each piece will meet that level of scrutiny with confidence and beauty.”

KORLOFF
Since 1978, KORLOFF has been a symbol of true femininity—magnetic, adventurous, and bold. Renowned for crafting exquisite bespoke jewelry, each piece reflects daring designs and the unmatched artistry of French craftsmanship, showcasing the Maison’s boundless creativity and passion. “Our story began with a diamond, the Black Korloff, the largest brilliant-cut natural black diamond in the world. Its uniqueness, shaped over millions of years, continues to inspire us every day as a symbol of mystery, transformation, and the magic of nature. Natural diamonds possess an authenticity and depth that no other material can replicate. They remind us that beauty is born from time, pressure, and light, forces that mirror the creative journey behind each Korloff jewel.”

Meet the De Beers Institute of Diamonds Experts:

Jodine Bolden, Director of Education De Beers Institute of Diamonds
Jodine has previously developed her career as an operations line manager within large FMCG companies, and European HR Management roles within the luxury Health & Beauty industry where she first developed her passion for creating exceptional consumer experiences. After moving to De Beers, she worked as HR Manager for 5 years and discovered her fascination for diamonds as she supported various global functions across the De Beers estate, she then involved creating the Institute of Diamonds Education Service and developing each course that they now offer to their clients.

Since 2018 the De Beers Institute of Diamonds Education Service has provided education on a range of diamond subjects including, Rough Diamond Sorting, Polished Diamond Grading and Laboratory-Grown Detection.

Samantha Sibley, Technical Liaison Manager De Beers Group, UK
With over 30 years’ experience in De Beers’ research, development and commercial teams, Samantha brings a wealth of knowledge regarding the characteristics of both natural and laboratory-grown diamonds. She has been involved in the development of De Beers Group’s current and previous suites of verification instruments and currently also facilitates training and educational courses around the world on the use of these instruments for accurate screening results. Other projects involve research into irradiation and HPHT colour treatments and the utilisation of this information to develop screening processes within the De Beers grading laboratories.

Sam has a BTEC Higher National Certificate in Physics, is a diamond fellow of the Gemmological Association of Great Britain (DGA) and holds a team leader qualification from Leadership Management UK and the Chartered Management Institute. She has presented on diamond topics globally and has had first-hand experience of the diamond industry over many years through visits to mines, cutting centres, polishing factories, gemmological laboratories and tradeshows.

Annette Fernando, Commissioned Artist, “The Multi-Faceted Self” at The Forever Gifts: A Natural Diamond Series
Annette Fernando (b. 1991, London) is a multi-disciplinary artist and curator. She holds a BA in Fine Art from Central Saint Martins and is currently pursuing an MA in Contemporary Art at Sotheby’s Institute of Art, where she was awarded the prestigious Cultural Leaders Scholarship.

Fernando’s artistic repertoire spans drawing, printmaking, painting, and film. Fernando’s current work is driven to immortalise natures scenes, capturing the beauty of moments often overlooked through various mediums. Fernando’s work has garnered significant recognition, including winning the Jerwood Drawing Prize in 2014 and selections for the Royal Academy Summer Exhibition in 2021 and 2023. Her pieces are held in public and private collections across the USA, France, Hong Kong, and the UK.

Hashtag: #adiamondisforeverhk #lanecrawford #adiamondisforever #theforevergifts #naturaldiamonds #diamonds

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About De Beers Group

Established in 1888, De Beers Group is the world’s leading diamond company with expertise in the exploration, mining, marketing and retailing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world’s largest diamond producer by value, with diamond mining operations in Botswana, Canada, Namibia and South Africa. Innovation sits at the heart of De Beers Group’s strategy as it develops a portfolio of offers that span the diamond value chain, including its jewellery houses, De Beers Jewellers and Forevermark, and other pioneering solutions such as diamond sourcing and traceability initiatives Tracr and GemFair. De Beers Group also provides leading services and technology to the diamond industry in the form of education and laboratory services via De Beers Institute of Diamonds and a wide range of diamond sorting, detection and classification technology systems via De Beers Group Ignite. De Beers Group is committed to ‘Building Forever,’ a holistic and integrated approach for creating a better future – where safety, human rights and ethical integrity continue to be paramount; where communities thrive and the environment is protected; and where there are equal

opportunities for all. De Beers Group is a member of the Anglo American PLC group. For further information, visit www.debeersgroup.com.

About Lane Crawford

Founded in 1850, Lane Crawford is an iconic luxury department store, with a mission to search the world for the most exciting talent and product, to create the ultimate luxury edit of fashion and lifestyle for its customers across Greater China. Featuring the largest own-bought designer portfolio across Womenswear, Menswear, Beauty & Wellbeing,

Home and Lifestyle, and Fine Jewellery in the region, Lane Crawford constantly evolves its product, experience, and services offer to embrace the most innovative and relevant designers and exceptional craftsmanship of the season, and to reflect the dynamic pace of its market and customers.

With four stores in Hong Kong; and three stores across Shanghai, Beijing and Chengdu, supported by a global digital flagship, and a purpose-built ecommerce site for China and WeChat store, Lane Crawford is Greater China’s first and only omni-channel luxury fashion retailer. Each store is personalised to its location and designed to provide sensory experience, fusing fashion, design, art and music, while offering exceptional service.

Lane Crawford is a part of The Lane Crawford Joyce Group, Asia’s premier fashion retail, brand management and distribution group, which also includes cutting-edge fashion boutique Joyce; and fashion, beauty, and lifestyle brand management and distribution business ImagineX Group.

As crowds gathered for the New Year Countdown, they were able to enjoy a new format experience, with this year’s main event taking place at the Chater Road pedestrian zone in Central, sitting next to the Winter Wonderland display, which transformed Statue Square Gardens into a magical Christmas Town complete with a magnificent 20-metre tree and charming decorations.

A series of events including music performances and a light show were arranged by the Hong Kong Tourism Board (HKTB) with the aim of conveying positive energy, care, and blessings of peace to both locals and visitors, and to welcome a hopeful new year together.

The Hong Kong Special Administrative Region (HKSAR) Government had anticipated a large number of visitors during the festive season, which included a four-day long weekend over Christmas, while January 1 coincided with the start of a three-day long holiday on the Chinese Mainland.

The Government said the number of non-Chinese Mainland visitors reached a post-Covid record every day during the Christmas holiday with around 50,000 visitors daily from December 25 to 27, accounting for around 33% of the total number of travellers during that period.

This influx of festive visitors provided a further boost to Hong Kong’s tourism sector. In 2025, Hong Kong received 50 million visitors, marking a 12% year-on-year rise. This included 38 million visitors from the Chinese Mainland (up 11% year-on-year) and 12 million non-Chinese Mainland visitors (up 15% year-on-year).

In the Euromonitor International Top 100 City Destinations Index 2025, Hong Kong ranked second globally for international arrivals, behind only Bangkok.

The large number of visitors over festive period provided further impetus to the local tourism industry, which had already been buoyed by a series of mega events at the new Kai Tak Sports Park. Since its opening in March 2025, KTSP has become a new hub for major sports and entertainment events.

Hashtag: #hongkong #brandhongkong #asiasworldcity #tourism #megaevents #newyear #countdown #kaitaksportspark

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The inaugural flight, VN39, departed Tan Son Nhat International Airport at 10:45 p.m. on December 15 aboard a Boeing 787-9 Dreamliner and landed safely at Copenhagen Airport after more than 12 hours of flight, carrying over 200 passengers to the Danish capital. The return flight, VN38, departed Copenhagen at 10:50 a.m. local time on December 16 and arrived in Ho Chi Minh City later the same day, serving more than 300 passengers.

The Ho Chi Minh City to Copenhagen route will operate three times per week. Flights depart Ho Chi Minh City on Monday, Wednesday, and Friday evenings, while return flights from Copenhagen operate on Tuesday, Thursday, and Saturday mornings. This new service enhances connectivity between Vietnam and Denmark, as well as the broader Northern European region, while meeting the increasing travel demand of the Vietnamese community in the area, estimated at approximately 70,000 people. It is also expected to further boost the growing number of Northern European visitors to Vietnam.

Dang Anh Tuan, Executive Vice President of Vietnam Airlines, said: “Copenhagen represents a strategic market in Vietnam Airlines’ European network growth. Our nonstop service dramatically reduces travel time between Vietnam and Denmark, enhances our competitive edge, and creates new opportunities for tourism, business, and cultural exchange across Northern Europe. This direct connection will deliver clear benefits to passengers, enterprises, and the Vietnamese community in the region.”

Copenhagen, the capital of Denmark, is widely recognized as one of the world’s most livable cities and serves as a key transportation hub for the entire Scandinavian region. From Copenhagen Airport, passengers can conveniently connect to Sweden, Norway, and Finland via a modern infrastructure and efficient transport network. As a result, the new route not only meets travel demand to Denmark but also provides faster and more convenient access to the broader Northern European region compared with previous itineraries requiring transit stops.

Copenhagen is considered a high-potential market, particularly during the winter season when Northern European travelers seek warm-weather destinations such as Vietnam. With the launch of this route, Vietnam Airlines becomes one of the few Southeast Asian carriers offering direct service to Northern Europe, further strengthening its European network, which currently includes Paris, Frankfurt, Munich, London, Milan, and Moscow.

The nonstop Ho Chi Minh City to Copenhagen service also marks a significant milestone in Vietnam Airlines’ 30-year development journey, reaffirming the airline’s commitment to expanding intercontinental connectivity, enhancing the role of the national flag carrier, and continuing to showcase the image, culture, and people of Vietnam to the world.

Hashtag: #VietnamAirlines

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DL Securities’ formal approval as a licensed virtual asset service provider means that the sizeable digital asset and real-world asset (RWA) tokenization landscape being built by the Group will be delivered to global investors through a compliant, secure, and efficient channel — representing a critical step toward the inclusive-finance vision of “Investing Made Simple.”

Following the license upgrade, DL Securities plans to open omnibus accounts with OSL — one of the SFC-licensed virtual asset trading platforms in Hong Kong — to provide professional investors with secure and efficient execution services, including virtual asset trading and conversion between virtual assets and fiat currencies. The Company will implement stringent Know-Your-Customer (KYC) and Anti-Money Laundering (AML) procedures, perform continuous monitoring and risk assessment together with the platform, and conduct knowledge assessments for clients to ensure that services operate under the highest compliance standards.

To ensure prudence and regulatory alignment, DL Securities will strictly follow the additional conditions of the SFC and conduct virtual asset transactions via omnibus accounts on SFC-licensed platforms. Meanwhile, services will primarily target professional investor clients within its existing Type 1 regulated activity (securities dealing). This demonstrates that while embracing digital-finance innovation, DL Securities will continue to uphold Hong Kong’s rigorous regulatory framework and remain committed to delivering secure and compliant virtual asset services to high-net-worth clients.

Ahead of many licensed brokers whose roles remain focused only on “distribution,” DL has already established forward-looking strategic layouts in both asset digitalization and digital-asset investment, building a solid asset foundation for future business expansion. In terms of innovative RWA tokenization, the HK$500 million DL Tower located in Hong Kong’s Central district has formally commenced tokenization, with an initial tranche valued at HK$60 million. At the same time, the Group has completed the tokenization plan for its HK$312 million equity interest in the ultra-luxury U.S. real estate project ONE Carmel, aiming to pioneer an innovative shareholder-return mechanism. In addition, the Group has completed tokenization of nearly HK$40 million equity stakes in leading technology companies such as ByteDance and Kraken, enriching the diversity and growth potential of its digital-asset portfolio.

In terms of strategic investment in digital assets, the Group has likewise advanced its deployment. In computing power, nearly ten thousand high-performance mining rigs have been procured, generating close to two Bitcoins per day. The Group has also mapped out an additional HK$800 million digital-asset investment pathway, including HK$560 million into computing power and HK$240 million into tokenized gold assets. Cooperation with digital-asset asset-management platform Antalpha has achieved substantive progress, with an initial allocation of nearly HK$40 million in gold tokens completed. Meanwhile, continued investment in the fintech platform NeuralFin has delivered outstanding results — the platform’s valuation has reached HK$546 million and it has officially initiated preparations for U.S. listing, further strengthening the Group’s integrated digital-finance ecosystem.

Approval of the virtual-asset license provides crucial regulatory support for DL Securities to introduce the Group’s scarce, high-quality virtual-asset and RWA products to the broader investment market in a compliant and secure manner. Going forward, DL Securities will be able to offer professional and institutional investors compliant trading and professional advisory services covering mainstream digital assets such as BTC and ETH, as well as proprietary real-estate and equity-type RWA products. High-quality physical assets and frontier digital assets — once characterized by high thresholds and low liquidity — can now be transformed into fractional, tradeable digital rights, allowing broader groups of investors to share in the dividends of technological and asset-value growth.

Against the backdrop of global asset digitalization, RWA tokenization is becoming a key direction of financial innovation. While Chinese Mainland remains prudent toward such businesses, Hong Kong SAR — guided by a clear, stable, and internationally aligned regulatory framework — is actively assuming the role of a “testing ground.” Seizing this window of opportunity, DL has leveraged its deep understanding of the Hong Kong market, completed its virtual-asset deployment ahead of peers, and successfully obtained a pivotal license. This not only reflects DL’s strategic foresight but also its active participation in building Hong Kong into a global virtual-asset hub — firmly capturing first-mover advantages.

Mr. Andy Chen, Chairman and Chief Executive Officer of DL Holdings Group, stated:”This approval of our virtual-asset license is a milestone that has come naturally. DL has long ceased to be a bystander waiting for the license—we are already deeply engaged, holding substantial high-quality digital assets and RWAs. The license is a key — it opens the door for us to provide compliant services to investors worldwide. Looking ahead, DL will fully leverage our capital strength, asset reserves, and ecosystem advantages to become a trusted bridge connecting traditional finance and the digital-finance world.”

This license upgrade represents an important milestone in the Group’s deepening digital-finance strategy and embrace of fintech innovation. It is expected not only to significantly enhance business diversification and revenue potential but also to position the Company strongly in the digital-asset markets of Hong Kong and the Asia-Pacific region. Through rigorous compliance frameworks, professional teams, and deep collaboration with licensed platforms, DL Securities will provide professional investors with secure, efficient, and transparent virtual-asset financial services. Following the upgrade of Type 1 to include virtual-asset trading, the upgrade procedure for its Type 4 license (advising on securities) is also currently under final SFC review.

Hashtag: #DLHoldings #DLSecurities #SFC #LicensedBroker #RWATokenization #TokenizedAssets

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Venezuela has begun shutting oil wells in its prolific Orinoco Belt after storage filled up and inventories swelled, a move that underscores the operational strain facing the state producer as financial pressure from Washington tightens. The cutbacks, which started on 28 December, are set to lower heavy crude output by at least a quarter in the belt that holds the world’s largest known oil deposits, according to people familiar with internal operations.

Petroleos de Venezuela SA, known as PDVSA, is aiming to bring Orinoco production down to about 500,000 barrels a day, the people said. That reduction equates to roughly 15% of the country’s total output of around 1.1 million barrels a day. The wells were idled as tanks reached capacity and export bottlenecks left little room to keep pumping.

The Orinoco Belt, stretching across eastern Venezuela, has been the backbone of the nation’s oil recovery over the past two years as PDVSA revived projects, leaned on foreign partners and relied on intermediaries to place barrels abroad. Heavy crude from the belt requires blending and specialised handling, making storage constraints particularly acute when exports slow or logistics falter.

The curtailment comes amid a renewed effort by the Donald Trump administration to financially squeeze Caracas. Measures have focused on limiting cash flows and tightening scrutiny of trade channels that had allowed Venezuelan oil to reach global markets. While PDVSA has navigated sanctions for years through complex trading arrangements, the latest actions have reduced the room for manoeuvre.

Operationally, the impact is immediate. Engineers have prioritised shutting wells with higher water cut or maintenance needs, while keeping strategic upgraders running to preserve reservoir integrity. Restarting heavy-oil wells can be costly and time-consuming, raising the risk that some output may not return quickly even if conditions improve.

For the government in Caracas, the setback dents a fragile rebound that had lifted production from historic lows. Oil remains the main source of hard currency, funding imports and social spending. Lower volumes threaten fiscal plans at a time when inflation has moderated but public finances remain stretched.

Internationally, the cuts add a layer of uncertainty to heavy crude markets. Refineries in Asia and the United States Gulf Coast have relied on Venezuelan grades as substitutes for similar barrels from elsewhere. Traders said tighter availability could widen discounts and prompt buyers to seek alternatives from Canada or the Middle East.

PDVSA’s partners in the Orinoco Belt, including joint ventures with foreign companies, are also affected. Output reductions translate into lower liftings for partners and could complicate investment decisions. Several projects had been ramping up after maintenance and drilling campaigns, betting on stable export routes.

The government has framed the situation as a temporary adjustment driven by logistics rather than geology. Officials argue that reserves remain intact and that production can rebound once storage is freed and exports normalise. Behind the scenes, PDVSA has been exploring options to lease additional floating storage and accelerate shipments to Asia, though payment and insurance hurdles persist.

Analysts note that the episode highlights structural weaknesses. Venezuela’s oil infrastructure has suffered years of underinvestment, leaving little buffer when trade flows are disrupted. Power outages, pipeline leaks and equipment shortages have repeatedly constrained operations, forcing stop-start cycles that erode efficiency.

In the broader geopolitical context, the pressure campaign reflects Washington’s leverage over energy finance and shipping. Even when licences allow limited trade, banks, insurers and carriers often tread cautiously, amplifying the impact on producers like PDVSA. The result is a stopgap approach that prioritises managing bottlenecks over long-term optimisation.

Under the MoU, Vingroup, Exposure, and the City of Kinshasa, through its relevant authorities, will collaborate to study and promote the procurement and deployment of VinFast’s fully electric vehicles, including electric buses, electric cars, and electric scooters, to meet the transportation needs of the city and its residents. In parallel, the parties will jointly develop a comprehensive electric mobility ecosystem encompassing charging infrastructure and after-sales services.

To support the transition to electric mobility, the cooperation will focus on modernizing and greening Kinshasa’s transportation system across public transport services, mobility solutions for government officials and civil servants, and transportation options for the general public.

Vingroup, through its subsidiary VinFast, will provide detailed commercial and technical proposals for vehicle fleets, including buses, cars, and scooters. Exposure will be responsible for developing a detailed preliminary business plan for vehicle procurement and infrastructure development, as well as initiating the necessary local administrative and legal procedures for importation, distribution, and operations. Meanwhile, the City of Kinshasa will review and propose appropriate incentive mechanisms, covering tax policies, regulatory frameworks, and access to infrastructure, to encourage the development and adoption of green mobility. A designated focal authority will also be appointed to manage and oversee the electric bus fleet.

During the initial phase, expected to run from now through the end of Q1 2026, the parties have agreed on a roadmap to conclude formal contracts to operationalize the above objectives. Under this roadmap, VinFast is expected to supply approximately 500 electric buses and 1,000 electric cars for public fleet operations in Kinshasa. Over the same period, VinFast and Exposure plan to implement supply and distribution agreements to introduce between 10,000 and 20,000 electric cars and between 50,000 and 100,000 VinFast electric scooters to the local market.

In pursuit of a comprehensive green ecosystem, the parties will cooperate in developing an extensive charging station network and an authorized service workshop system, ensuring stable operations and convenience for electric vehicle users.

Specifically, Vingroup reaffirmed its commitment to sustainable development and positive local impact through knowledge transfer and human resource development. These initiatives include training programs for drivers, technicians, and on-site operations personnel, as well as technical design support for electrified transportation infrastructure. Exposure will undertake technical and economic assessments of the charging network and vehicle maintenance and repair facilities. For its part, the City of Kinshasa has committed to supporting land allocation, identifying locations for charging stations, and ensuring reliable power supply solutions, thereby establishing a solid infrastructure foundation for Vingroup’s green mobility ecosystem in the city.

Mr. Jésus-Noël SHEKE WA DOMENE, Provincial Minister of Planning, Budget, Public Service, Employment, Tourism, Transport and Urban Mobility, representative of the City of Kinshasa stated: “The City of Kinshasa highly values our cooperation with Vingroup in advancing green and smart mobility solutions. This is a strategic step aligned with the city’s sustainable urban development vision, aiming to reduce environmental impacts, improve transportation infrastructure, and deliver long-term benefits to our citizens. We believe this partnership will help transform Kinshasa into a dynamic, modern, and livable city in the region.”

Mrs. Phuong NGUYEN, General Director of Vingroup Africa shared: “Vingroup is honored to partner with the City of Kinshasa on the journey toward building a modern, civilized, and sustainable living environment. The deployment of green and smart mobility solutions will not only gradually transform Kinshasa’s urban transportation landscape, but also create long-term, tangible value by improving quality of life for residents and supporting the city in achieving its future sustainable development goals.”

Previously, the Government of Kinshasa and Vingroup also signed a Memorandum of Understanding to explore large-scale urban development projects in the Democratic Republic of Congo. Under the MoU, the two parties will jointly study and develop a large riverside urban project covering approximately 6,300 hectares, strategically located within the capital’s urban expansion plan.

The mega urban development is expected to include residential areas, villas, hospitals, schools, shopping centers, hotels, entertainment complexes, and future government and ministerial offices, positioning it as a new tourism destination and a landmark of Kinshasa’s development. The city is expected to allocate land for the project in accordance with the agreed cooperation framework.

These strategic agreements underscore Vingroup’s international vision and growing global presence, reaffirm its pioneering role in green mobility, and further deepen economic cooperation between Vietnam and the Democratic Republic of Congo, as both countries pursue green growth and sustainable development.

Vingroup is Vietnam’s largest private conglomerate, operating across six core sectors: Industrials & Technology, Real Estate & Services, Infrastructure, Green Energy, Culture and Social Enterprises, guided by the vision of “To Create a Better Life for People”.

With a strong track record, scale, and proven capabilities, Vingroup continues to expand its international footprint. The Group was recognized by TIME magazine (USA) in the “TIME World’s Best Companies 2025” list, ranking among the world’s top 1,000 companies for outstanding contributions to sustainable development, innovation, and global impact.Hashtag: #Vingroup

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

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