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Held on 4–5 March 2026 at Science Park, the Wearable Technologies (WT) Conference 2026 was making a return appearance in Hong Kong after a decade, while the Innovation World Cup came for the first time, spotlighting 32 global innovators out of over 300 entries, in which 8 were Hong Kong-based life & health tech companies, vying for opportunities by connecting with research professionals, industry leaders, and investment representatives, including fast track to “HKSTP Soft Landing Programme” where up to HK$100,000 cash funding and access to an extensive network to accelerate market entries is up for grabs.

Emerged 1^st and 2^nd from the finals were FluoretiQ from the United Kingdom, introducing an on-the-spot diagnostic solution ‘Veri-5’ that identifies the bacteria and antibiotics in 30 minutes, and Light House from Switzerland, introducing assistive mobility eyewear ‘TAMI’ that look after the visually impaired regardless of hazardous environments, had also won the Audience’s Favourite. 3^rd place came United Sensing & MediTech, filling the gaps in monitoring chronic, yet not necessarily lethal cardiovascular diseases, in particular, hypertension, where one-third of the adult population in Hong Kong endures, with a smart ring that presents an alternative that tracks for indicators and tells when possibilities of worsening the condition occurred with ease and efficiency.

With the city recognised as a global financial centre, and ranked in 2025 the first worldwide for biotechnology IPOs, Prof. Dong Sun, JP, Secretary for Innovation, Technology and Industry, Government of HKSAR said, “Initiatives were rolled out to support the local development of life & health tech that are seeing massive success, including the InnoHK clusters, the RAISe+ scheme, and more. Besides from technological advancements, traction for talent and capital have also been witnessed and welcomed.”

Terry Wong, CEO of HKSTP said, “The Conference demonstrated that Hong Kong’s playing a pivotal role as a platform gluing aspects of I&T together—connecting industry and academia for research and development; innovation with investment for commercialisation; and between cities and cultures and compliance practices for adoption—essential in transforming ideas into impact.”

The notion was in echo as Park company founders joined university professors and industry gurus from around the world in sharing the latest developments in the spectrum of medicine; and for AiQuanMed Engineering & Innovation Council (AEIC) from Singapore, and Organization for Medical, Engineering and Commerce Collaboration (OMECC) from Japan to join as strategic partners to the ‘Global Connect’ initiative for a tighter bond among I&T enablers.Hashtag: #HKSTP

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

HKSTP

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

Eight years after the EC (European Commission) issued its “yellow card” warning over Illegal, Unreported and Unregulated (IUU) fishing, Vietnam’s entire political system is executing comprehensive measures with unprecedented resolve. The campaign to remove the IUU yellow card transcends mere commercial calculations; it has become inextricably linked to national prestige, the livelihoods of fishing communities, and the sustainable future of the fisheries sector.

HANOI, VIETNAM – Media OutReach Newswire – 6 March 2026 – Combating IUU fishing represents a critical and urgent national mission with enduring implications for sustainable fisheries development. This mission constitutes a collective mandate that rests with the entire political system and society, presenting a pivotal opportunity to restructure, modernise, and transform the fisheries sector’s sustainable development strategy while ensuring social equity.

Removing the EC’s yellow card warning embodies Vietnam’s honour, responsibility, and national interest, essential elements for enhancing the reputation and global competitiveness of Vietnamese seafood products. Simultaneously, combating IUU fishing and developing a responsible, internationally integrated fisheries sector stands as a cornerstone of the blue economy agenda, ranking among the Vietnamese Government’s highest priorities in recent years.

Institutional Reform in Fisheries Management

Vietnam’s commitment manifests through sweeping legislative reforms. Decree 26/2019 established comprehensive traceability requirements, mandating that every kilogram of seafood must carry verifiable proof of legal origin from the moment of harvest until reaching international buyers.

Subsequent decrees (No. 42/2019, 37/2024, 38/2024, 301/2025) have progressively clarified liability, extending sanctions to both vessel owners and captains, substantially increasing penalties for specific violations, and introducing supplementary sanctions and remedial measures to ensure rigorous enforcement. These enhanced penalties strengthen deterrence capabilities against IUU violations.

The amended Fisheries Law 2017, effective January 1, 2026, incorporates crucial provisions including: (i) transferring certain authorities from the National Assembly to the Government/Ministries to ensure responsive IUU enforcement; (ii) delegating authority to establish fishing permit conditions to the Government (Article 50, Clause 2); (iii) expanding regulatory authority over vessel deregistration cases (Article 50, Clause 5); (iv) transferring authority to establish fishing port criteria and the procedures for opening and closing fishing ports to the Minister of Agriculture and Environment (Article 78); and (v) incorporating requirements for export vessels to meet Government-prescribed conditions (Article 66).

Integrated Technology for Vessel Management and Monitoring

Central to implementing the EC inspection team’s fourth-round recommendations is the deployment of a comprehensive fishing vessel management and monitoring system. Bolstered by the Politburo’s Resolution 57 on scientific-technological breakthroughs, innovation, and national digital transformation, technology has become indispensable to the yellow card removal campaign.

The eCDT system now enables end-to-end data digitisation for monitoring vessel port entries and departures, while the Vessel Monitoring System (VMS) tracks all vessels exceeding 15 meters operating offshore.

Fishing vessels may only register for local operations when allocated fishing permit quotas remain available. Registered vessels are comprehensively catalogued in the national fisheries database (VNFishbase), with ownership information verified against the national population database (VNeID), enabling effective management, operational control, and administrative violation processing while ensuring seamless coordination between central and local authorities.

Establishing Traceability Mechanisms for Domestic and Imported Fisheries Products

As of December 31, 2025, Vietnam has declared 86 operational fishing ports, with continued investment in planned ports to enhance vessel monitoring capacity. The nationally deployed eCDT system now manages complete fishing vessel operations while ensuring transparent traceability of harvested aquatic products. System participation among vessels, fishermen, and enterprises continues growing, with mandatory eCDT and electronic logbook implementation scheduled for all operational fishing vessels.

In 2025, the eCDT system recorded 158,885 port departures (an increase of 81,158 vessels, up 104.41% from 2024) and 154,657 port arrivals (up 88,032 vessels, a 132.13% increase from 2024). Certification and confirmation of harvested aquatic product origins now strictly adhere to legal requirements.

Regarding imported harvest traceability: 14 designated seaports have been announced for foreign vessel arrivals, fully implementing PSMA, compliant control measures for imported harvested aquatic materials and container-shipped products. Domestic and imported harvest traceability mechanisms now operate with rigorous oversight, ensuring full compliance with Vietnamese and international legal frameworks. Notably, no violations have been detected in shipments to European markets since the fourth inspection mission (October 2023).

Legal Enforcement and Violation Processing

A unified vessel monitoring system operates consistently from central to local levels, tracking all vessels exceeding 15 meters in offshore waters. By December 31, 2025, all remaining cases of VMS signal loss and unauthorised boundary crossings have been resolved, with continued strict enforcement against emerging violations.

Coastal provincial authorities conduct regular reviews of vessel registration, surveying, and fishing permit issuance to eliminate unregistered, unlicensed, and VMS-deficient vessels and deregistered vessels still operating. These measures have significantly reduced foreign waters violations.

Sanctions against vessels and fishermen violating foreign waters have intensified, producing measurable improvements. In 2025, 20 vessels detained by foreign authorities underwent investigation, with 17 cases (85%) now resolved. Overall detention figures since 2017 show marked reduction, with complete cessation of violations in Pacific island nations. Currently, only six localities report vessel detentions compared to ten previously.
Vietnam maintains an unequivocal zero-tolerance stance toward IUU violations, committing to continued rigorous processing of remaining cases upon receiving complete vessel and captain information from detaining nations.

Analysts suggest the finish line is approaching. “Vietnam has accomplished more in eight years than many nations achieve in decades,” observers note. “Yellow card removal would not merely boost GDP, it would demonstrate Vietnam’s capacity for ocean governance leadership.”
Vietnam presents a transformed reality: bustling ports equipped with digital inspection infrastructure, vessels monitored by satellite tracking systems, and a fishing community actively upholding government mandates.

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

MANILA, PHILIPPINES – Media OutReach Newswire – 5 March 2026 – Leading global logistics service provider Rhenus Group has officially opened a new warehouse in Philippines’ Paranaque, Metro Manila. This marks the company’s effort to expand its presence as a leading logistics player in the Philippines, with plans to add more warehousing space in the near future.

The warehouse is strategically located in NCR, close to major business districts and offers excellent access to major transport routes via direct access from SLEX Sucat. The brand new 7,320 sqm multi-user warehouse facility features a very high ceiling of around 20m with full insulation. It has the highest level of structural integrity and meets very high safety and security standards. Some of the features include Optical Beam Smoke Detectors, Sprinklers, mechanical cross ventilation system, fully enclosed gated compound, 24×7 security guards, full CCTV coverage with 60 days video retention, intruder alarm system, etc.

With a focus on sustainability, the warehouse utilizes LED lighting, solar panel provision, and a skylight to harness natural light, in an effort to reduce its carbon footprint. The warehouse is in the process of obtaining ISO certifications in Quality Management Systems (QMS), Environmental Management Systems (EMS), and Occupational Health and Safety (OH&S) Management Systems.

The new warehouse expands the footprint of seven existing facilities across Manila, Cagayan de Oro, and Davao, strengthening nationwide coverage and smooth integration with global supply chains.

The freight and logistics market size in the Philippines is estimated at USD 16.20 billion in 2026 and is expected to reach USD 21.60 billion by 2031^[1].

“Rhenus Philippines will continue to strengthen our position further in the market. With the opening of this new warehouse, we are moving forward with our plan to continue to invest in modern and state-of-the-art facilities. This allows us to expand our footprint and product portfolio to serve our customers’ requirements with the highest level of efficiency, safety, security, and compliance,” said Deepak Sharma, Managing Director of Rhenus Warehousing Solutions Philippines.

Rhenus Philippines has strong expertise in chemical warehousing, consumer goods, machinery and industrial logistics. Together with its freight forwarding entity, it offers a wide range of comprehensive services to customers, including warehousing and distribution solutions, domestic inter-island shipping, customs brokerage, project logistics, as well as air, ocean, and road freight.

More information on Rhenus Philippines is available at:

https://www.rhenus.group/ph/

Hashtag: #Rhenus

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

About Rhenus

The Rhenus Group is one of the leading logistics specialists with global business operations and annual turnover amounting to EUR 8.2 billion. 41,000 employees work at 1,330 business sites in more than 70 countries and develop innovative solutions along the complete supply chain. Whether providing transport, warehousing, customs clearance or value-added services, the family-owned business pools its operations in various business units where the needs of customers are the major focus at all times.

Leveraging Know Your Customer’s cutting-edge digital compliance platform, DBS Hong Kong will gain real-time access to comprehensive business verification data — including instant retrieval of official company documents and automatic identification of complex ultimate beneficial ownership (UBO) networks across more than 140 jurisdictions.

This AI-powered automation addresses the traditionally manual and cumbersome SME onboarding processes by streamlining the end-to-end business KYC process, efficiently verifying corporate structures and ownership, reducing manual effort and accelerating onboarding timelines. The result is significantly enhanced operational efficiency and a faster, more seamless onboarding experience for DBS Hong Kong’s business customers.

[Lareina Wang, Head of SME Banking, DBS Bank Hong Kong] said,

” At DBS Hong Kong, we are dedicated to reimagining the customer onboarding experience through continuous digital innovation. By engaging Know Your Customer, we leverage advanced technology to streamline CDD workflows, delivering faster service to our customers. This collaboration also represents a major advancement in automating SME onboarding processes that have historically been complicated and manual, solidifying SME banking position of DBS in the market of Hong Kong. “

Claus Christensen, CEO and Co-Founder of Know Your Customer, added,

“Our service provided to DBS Hong Kong exemplifies how financial technology can simplify complex onboarding challenges. With our global data coverage and AI-powered automation, we empower DBS Hong Kong to accelerate KYC processes and provide business customers with an unrivalled onboarding journey. Together, we are shaping the future of digital banking.”

In recognition of its visionary digital strategy, DBS Hong Kong was named Asia’s Best Digital Bank in 2025 by Euromoney. The bank also continues to lead digital innovation, evidenced by over 70% of Hong Kong SMEs already integrating or exploring AI and digital technologies as part of their operations, according to its recent SME survey.

This transformative collaboration underscores DBS Hong Kong’s unwavering commitment to innovation and delivering safe and trusted digital onboarding solutions in Asia’s rapidly evolving financial landscape.

Hashtag: #KnowYourCustomer

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

About DBS Bank (Hong Kong) Limited

DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 17 consecutive years from 2009 to 2025. In 2026, DBS won the “Triple A award – Best Digital Customer Onboarding Experience – Hong Kong”

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.

DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.

About Know Your Customer Limited

Know Your Customer Limited is an award-winning RegTech company specialised in next-generation business verification solutions for financial institutions and regulated organisations worldwide. For teams struggling with inefficient client due diligence and onboarding processes, Know Your Customer offers an intuitive digital compliance workspace that combines unmatched real-time registry data, covering over 140 countries, seamless integrations, and AI-powered smart automation. This streamlined approach transforms the compliance function at its core, allowing customers to customise their solutions by selecting only the functionalities they need, all accessible via a robust REST API.

Founded in Hong Kong in 2015, with a local presence in Singapore, Dublin, London, and Shanghai, Know Your Customer has built a global customer base across 11 verticals and 18 jurisdictions. The company also maintains a wide network of technology and data partners, ensuring high-quality entity data and enhanced compliance processes for its customers.

For more information visit https://knowyourcustomer.comor follow Know Your Customer Limited on LinkedIn or X.

“Effective execution of our strategy drove strong financial performance and higher shareholder returns in 2025, despite a challenging retail environment. Our significant progress made in portfolio simplification creates investment capacity for strategic priorities, enabling greater value for our customers and accretive inorganic opportunities to drive sustainable growth and returns.”

Lincoln Pan

Chairman

DFI RETAIL GROUP HOLDINGS LIMITED

PRELIMINARY ANNOUNCEMENT OF RESULTS

FOR THE YEAR ENDED 31 DECEMBER 2025

INTRODUCTION

It is my honour and privilege to join DFI Retail Group (‘DFI’ or the ‘Group’) as Chairman of the Board, supporting Group Chief Executive, Scott Price, and his leadership team in executing its strategic priorities and delivering shareholder returns. On behalf of the Board, I would also like to express our gratitude to John Witt for his invaluable contributions to DFI over many years.

As Asia’s leading multi-format retail platform, DFI has a unique set of assets – strong customer trust, an extensive store network across markets, deep data insights from a powerful loyalty programme, and a strengthening Own Brand portfolio – that will serve as a foundation for growth over the coming years.

Amid macroeconomic volatility and evolving consumer needs, the Group has been responding effectively through a stronger value proposition and enhanced omnichannel capabilities. This strategy is yielding early and encouraging results, demonstrated by a 35% increase in underlying profit in 2025. We remain particularly optimistic about the growth prospects in Health & Beauty and Convenience, as well as the opportunities emerging in digital.

I am confident that under the capable leadership of Scott and his team, DFI will continue to deliver retail excellence to customers across Asia while driving long-term value creation and growth.

Under a new 70% dividend payout policy announced in December 2025, the Board recommends a final dividend of US¢10.50 per share (2024 final dividend: US¢7.00).

STRATEGIC HIGHLIGHTS

Over the course of 2025, the Group executed effectively against its strategic framework of Customer First, People Led, Shareholder Driven. This approach enables DFI to navigate market challenges while capturing opportunities that build on its strong platform for sustainable growth.

The retail landscape is rapidly evolving, driven by shifting consumer behaviour and digitalisation. The Group remains focused on strategic priorities that place customers first – delivering quality, value and convenience in everyday moments. Across its businesses, the Group made good progress in strengthening value propositions, expanding customer reach in growth markets, driving deeper customer engagement with data-driven insights and accelerating digital monetisation. These initiatives enhance its ability to better serve customers and supplier partners while delivering returns to shareholders.

Investing in talent development remains at the top of the agenda. During the year, the Group achieved an improved team member engagement score. Inclusive leadership, a purpose-driven culture and engaged team members are critical to driving stronger performance and delivering exceptional customer experience. In parallel, the Group continues to enhance its organisational agility in meeting customer needs while reducing overhead costs.

In 2025, the Group completed the divestments of minority stakes in Yonghui and Robinsons Retail, as well as Singapore Food business, enabling reinvestment in subsidiary businesses and strategic priorities with stronger growth and return potential. This approach, combined with a sharpened business focus and a strengthened balance sheet, delivered a total shareholder return exceeding 90% in 2025, including the distribution of a US$600 million special dividend in October.

PROSPECTS

Transformation is an ongoing journey for today’s retailers. Serving diverse communities across Asia, where economic conditions and consumer expectations vary widely, the Group must stay agile and locally relevant guided by a customer-first mindset and a disciplined focus on growth opportunities that further build on its competitive advantages. Over the year, DFI has invested in delivering better outcomes for customers through price reinvestment, Own Brand innovation, omnichannel expansion and data-driven personalisation – focus areas that will remain central to its growth plans in the years ahead. An expanded digital ecosystem also unlocks new avenues to drive deeper value for supplier partners and enhance shareholder returns.

I would like to end by expressing the Board’s appreciation to our team members. We could not be more proud of the work they have done over the year, particularly in responding to the deeply tragic Tai Po fire in Hong Kong. Their unwavering dedication to serving our customers across Asia is what will continue to drive our business forward and build long-term value for shareholders.

Lincoln Pan

Chairman

GROUP CHIEF EXECUTIVE’S REVIEW

INTRODUCTION

We are pleased to close 2025 on a strong note, with underlying profit attributable to shareholders up 35% year-on-year to US$270 million, reaching the high end of our guidance range. This strong performance was driven by a recovery in LFL subsidiary sales, improved margins and proactive portfolio actions, including the divestment of our minority stake in Yonghui.

Customers across Asia, including in our home market of Hong Kong, are increasingly seeking quality and convenience at great value. While macro challenges remain, we are encouraged to see early signs of recovery in key retail segments, including 3% growth in health and beauty sales in Hong Kong, supported by a 12% increase in tourist arrivals. As Asia’s leading multi-format omnichannel retail platform, we are uniquely positioned to meet customers’ evolving needs effectively across all channels through relevant and compelling customer propositions.

With a renewed focus on balancing profitability with capital discipline, the Group ended the year in a net cash position, after distributing a US$600 million special dividend, and delivered a significantly improved return on capital employed (ROCE) of 9.4%. Our strengthened balance sheet allows us to reinvest for growth as we deepen our focus on higher-return subsidiary businesses and strategic priorities that sustain value creation for shareholders. For the full year 2025, we returned a total of approximately US$740 million to shareholders, including the special dividend.

In December, we held our inaugural Investor Day where DFI announced a new dividend policy with an increased payout ratio of 70%. Dividends paid during the year, combined with a share price increase of more than 70%, resulted in a total shareholder return exceeding 90% in 2025. We also outlined our three-year plan for realising our financial ambitions and accelerated growth goals, including a target of US$310-350 million in underlying profit (representing 11% CAGR at the mid-point compared to 2025¹) and an improved ROCE of at least 15% by 2028.

As we enter the new financial year, we remain firmly focused on executing our strategic priorities to drive sustained, profitable growth.

STRATEGIC DELIVERABLES – KEY PROGRESS

Over the past year, we have made significant progress in our transformation from a portfolio business into a strategically focused operating company. We have been advancing our strategy across five key deliverables to create greater value for our customers, supplier partners and shareholders.

Retail Excellence

By delivering best-in-class customer propositions, we see a wide range of opportunities for driving higher store sales density and market share gain across all business segments.

Health & Beauty

Mannings and Guardian continue to strengthen their position as the trusted advisor for wellness, unlocking strong cross-category growth opportunities through an assortment with high functional value across supplements, derma skin care and hair care. Customers across Asia are increasingly shifting to retailers that best fulfil their broad, diverse and unique wellness goals. Our technology-enabled personalised services – including skin, scalp and health assessments – drive higher purchase conversion and basket size by deepening customer understanding of their wellness needs. These capabilities will be expanded to 25% of our Health & Beauty store network to enhance our competitive differentiation and leadership in wellness.

Convenience
7-Eleven is broadening its shopper missions towards higher-margin, non-cigarette categories with a strategic focus on ready-to-eat (RTE) offerings, which accounted for 24% of Convenience sales in 2025. Across markets, consumers are seeking more convenient, high-quality and value-driven meal solutions. The expansion of Food Bars to 1,250 locations in South China and the rollout of RTE-focused store revamp across the entire Hong Kong network by 2028 will further strengthen 7-Eleven’s RTE proposition.

Food

Given consumers’ pivot towards value, continued northbound travel and increasing competition from Chinese mainland e-commerce platforms, the Wellcome team has focused on enhancing food basket value for customers by advancing our Everyday Low Price strategy. Investment in reduced pricing through strategic direct sourcing of core basket items, particularly in fresh, has resulted in a 2% growth in volume driven by higher footfall and increased items per basket. Direct sourcing allowed us to reduce prices while protecting gross profit, resulting in a 30-basis point gross margin improvement. These efforts further supported the narrowing basket price gap compared to the Greater Bay Area to a currently low single-digit price difference².

Home Furnishings

Similar to Food, IKEA has focused on enhancing its affordability and accessibility by reinvesting in the pricing of high-volume products, broadening the range of entry price points, rationalising the tail of slow-selling assortment, and further expanding digital touchpoints through third-party marketplaces. We are also strengthening IKEA Food as a key draw for customers seeking exciting and affordable food experiences as part of their store journey. These efforts are supported by significant cost transformation initiatives across our operating markets.

Own Brand

Our reset in Own Brand strategy across Food and Health & Beauty is driving higher customer loyalty and sales penetration through greater exclusivity and value. By refining our product range to align closely with customer needs and maximising cross-selling across our formats, we achieved meaningful improvements in margins and sales productivity.

Access to Customers

We continue to strategically expand our network in high-growth, profitable markets, primarily through a capex-light franchise model, with 114 net new openings³ in 2025. In particular, we will deepen 7-Eleven’s presence in Guangdong province to around 2,400 stores and expand Guardian’s footprint in Indonesia to approximately 750 stores by 2028.

Omnichannel and Data Ecosystem

DFI’s expanded omnichannel ecosystem is elevating our relevance and engagement with customers, providing us deep data insights across daily consumer needs that few peers in Asia can match. This ecosystem now allows our customers to engage with DFI brands across more than 90 digital channels, including apps, websites, third-party marketplaces, quick-commerce partnership with food delivery platforms and click-and-collect services. Our strengthened digital proposition was underpinned by a 140-basis point increase in online sales penetration to 6.4%⁴ as at year-end 2025, with order volume more than doubled year-on-year. Our overall digital ecosystem, comprising e-commerce, retail media, insights monetisation and yuu, continues to drive improved financial returns for the Group.

Retail Media (DFIQ Media)

Positioned to become Asia’s leading omnichannel retail media network, DFIQ Media offers a differentiated online and offline advertising proposition, enabling brands to execute cross-format campaigns through our digital assets and more than 10,000 in-store digital screens across markets. DFIQ Media delivered strong sales growth, albeit from a low starting base, achieving a fourfold increase in revenue over 2024, supported by proprietary data insights from over 7 million monthly active users across our growing digital portfolio.

DFIQ Portal

We aim to empower our supplier partners with actionable insights that drive greater business impact and better outcomes for customers. The DFIQ Portal – a vendor platform combining DFIQ Media, DFIQ Insights and trade capabilities – was launched in December 2025, providing suppliers real-time access to critical analytics that enables optimised inventory management and more effective strategic planning.

Retail Analytics

Leveraging cross-format data insights from over 5 million yuu Rewards members in Hong Kong, we continue to enhance our assortment and promotional decisions to help expand both in-store sales and gross profit.

Lean & Agile Model

Maintaining a lean and agile operating model is essential to ensuring efficient decision-making in a rapidly evolving retail landscape. Continued cost optimisation and better product sourcing will support both strategic price reinvestment and sustainable margin expansion in the coming years. Overhead reductions are expected to translate into lower SG&A costs beginning 2026. We remain disciplined in capex, driving network growth primarily through a franchise model with a strong focus on paybacks.

Strategic pivot from portfolio to a focused operating company

We conduct strategic reviews of our businesses guided by return on capital and total shareholder return priorities. During the year, we completed the divestment of our minority stakes in Yonghui and Robinsons Retail, as well as our Singapore Food business, generating total gross proceeds of approximately US$1 billion in cash consideration. In line with our capital allocation priorities, these proceeds were redeployed towards debt repayment, resulting in a net cash position of US$70 million as at year-end 2025. In addition, a special dividend of US$600 million was distributed to shareholders in October 2025. The Group remains focused on maximising total shareholder return while maintaining strategic flexibility for inorganic growth opportunities that are accretive to long-term shareholder value.

2025 PERFORMANCE

Total revenue from subsidiaries in 2025 was US$8.9 billion, up 1% on a LFL basis, excluding cigarettes. Organic revenue, excluding divested businesses⁵ for the comparable period, grew 0.5%. Strong sales growth in the Health & Beauty division was offset by lower contributions from other segments.

Excluding the impact of the minority stake divestments in Yonghui and Robinsons Retail completed in 2025, total revenue for the Group, including 100% of associates and joint ventures, remained broadly stable.

The Group reported total underlying profit attributable to shareholders of US$270 million for the year, up 35% year-on-year. This was supported by improved profitability from subsidiary businesses, lower financing costs and higher underlying profit from associates following the divestment of Yonghui.

Underlying profit from subsidiaries was US$183 million, 15% higher than the prior year. This was driven by strong Health & Beauty performance in addition to earnings recovery in Singapore Food and Home Furnishings segment, partially offset by lower contribution from Convenience due to reduced cigarette volume.

The Group’s share of underlying profit from associates was US$88 million, an improvement of US$45 million compared to the prior year, primarily due to the divestment of minority stake in loss-making Yonghui and higher contribution from Maxim’s as a result of improved mooncake sales and restaurant performance in Southeast Asia. Despite challenging trading conditions in Hong Kong and Chinese mainland, Maxim’s delivered profit growth in these regions through cost optimisation.

The Group reported operating cash flow after lease payments of US$430 million, 30% higher than the prior year, supported by underlying operating profit growth. Free cash flow⁶ for the period was US$281 million, up 78% year-on-year. As at 31 December 2025, the Group’s net cash was US$70 million, compared to US$468 million net debt at 31 December 2024.

SUSTAINABILITY

We remain firmly committed to our purpose to sustainably serve Asia for generations with everyday moments – with a focused, balanced, collaborative approach taking into account the macroeconomic environment and consumer sentiment. We are driving progress on our pathway to reduce our Scope 1 and 2 emissions by 50% by 2030 from a 2021 baseline, with our targeted investments in refrigerant emissions management, energy efficiency, and behaviour-change initiatives across our operations gaining momentum throughout the year. From 2025 to 2030, we will further increase the share of renewable energy use in our portfolio, helping to accelerate the energy transition in the key markets where we operate.

As advocates for our customers and the communities we serve, we are committed to delivering affordable, sustainable products. In 2025, we delivered 380 tonnes of Own Brand low-carbon rice to our Hong Kong markets and added multiple products through our Grounds to Green programme to our 7-Eleven RTE range. These award-winning initiatives demonstrate our ability to anticipate customer expectations and deliver on market demands. We maintained strong discipline in waste and packaging management, keeping us on track to meet our 2030 targets.

BUSINESS REVIEW

HEALTH AND BEAUTY

Sales for the Health and Beauty division grew 7% year-on-year or 5% on an LFL basis to US$2.6 billion. Underlying operating profit was US$228 million for the year, representing an increase of 8% compared to 2024.

Both Mannings and Guardian achieved strong LFL sales performance, supported by growing wellness sales penetration towards the mid-term target of over 35%. To further strengthen our leadership in wellness – a cross-category opportunity spanning health, beauty and personal care – Mannings and Guardian complemented their wellness-focused assortment with in-store health, skin and scalp assessments in selected outlets. Our personalised consultations and tailored product recommendations deepen our engagement with customers, supporting larger basket sizes and higher purchase conversion.

Hashtag: #DFIRetailGroup #Mannings #Guardian #7-Eleven #Wellcome #MarketPlace #IKEA #yuu #Maxim’s

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

DFI Retail Group

The partnership is designed to support the mega development in achieving the WCCD/SUM Custom ISO 37122 Smart City Certification. This certification is based on a customized indicators framework derived from the internationally recognized ISO 37122 indicators, tailored specifically for greenfield development projects and urban areas.

Under the partnership, KMAC will provide strategic consulting and technical advisory services to align the city’s development with the ISO 37122 indicators across key domains such as mobility, energy, environment, safety, and digital infrastructure.

The WCCD and SUM, headquartered in Toronto, Canada, is preparing a new customized indicators framework for greenfield development, based on the strategic smart city goals in the Vinhomes Green Paradise development. The WCCD/SUM teams, will oversee the assessment and smart city certification process, ensuring compliance with the ISO international standards and best practices.

The consortium agreed on a roadmap to deliver an Interim Certification within 2026, paving the way for full certification in subsequent phases.

“This project symbolizes a landmark collaboration between Vietnam and Korea in advancing global smart city standards,” said Mr. Chulse Oh, Head of AX Group at KMAC. “By combining Vinhomes’ visionary urban development with KMAC’s consulting expertise and WCCD/SUM’s global certification framework, VinhomesGreen Paradise will become a model for data-driven governance, sustainability, and smart innovation.”

“Vietnam is emerging as one of the most promising leaders in smart and sustainable city development. The Vinhomes Green Paradise is a remarkable new development in Vietnam that deserves global recognition,” said Dr. Patricia McCarney, President & CEO of the World Council on City Data (WCCD) and Director of SUM. “We are honored to partner with Vinhomes and KMAC to ensure that Vinhomes Green Paradise achieves global recognition through our WCCD/SUM ISO 37122 Custom Certification.”

Vinhomes Green Paradise benefits from a rare geographical setting, surrounded by the Can Gio Sea and the UNESCO-recognized Can Gio Mangrove Biosphere Reserve spanning over 75,000 hectares. The project features a 121-kilometer coastline, a total scale of 2,870 hectares, and a construction density of only 16%. It pioneers an upgraded ESG++ model, structured around five pillars: Environment, Social, Governance, Regeneration, and Climate Adaptation.

Upon full operation, the entire urban management system will be comprehensively greened with the following objectives: 100% clean electricity sourced from offshore wind farms, solar energy systems, and battery storage; 100% net-zero emission transportation, including electric cars, electric scooters, electric buses, electric bicycles, electric boats, and a high-speed railway system directly connecting to central Ho Chi Minh City.

In addition to strict compliance with environmental protection standards, Vinhomes Green Paradise places strong emphasis on biodiversity conservation and ecosystem regeneration throughout the development process, aligned with Ho Chi Minh City’s long-term climate adaptation strategy. A Forest Regeneration and Climate Adaptation Fund has been established to support research, restoration, and long-term resilience initiatives, with a core focus on mangrove restoration in Can Gio to establish a protective green belt for the entire development.

With its pioneering ESG vision, Vinhomes Green Paradise has become the first official participant in the “7 Wonders of the Future Cities” campaign initiated by New7Wonders, reinforcing its global recognition as a benchmark model for sustainable, AI-ready, and data-driven urban innovation.

Hashtag: #Vinhomes

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

Takaichi took to her official social media account to address questions about the asset, which adopted her given name and circulated on the Solana blockchain. She said there appeared to be “various misunderstandings” over the name and market activity, stressing she had no prior knowledge of the token and that neither she nor her administration had authorised or endorsed it. The prime minister urged caution among investors and the broader public.

The token, widely referred to in trading circles as a meme coin, experienced wild fluctuations before its value slid by about three-quarters from earlier highs, according to market data. At one point, it drew attention with an inflated valuation that some tracking sites estimated around $27.7 million, although such figures can be volatile and highly sensitive to trading volume and liquidity levels on decentralised platforms.

Analysts say meme coins — especially those leveraging the names or likenesses of well-known personalities — have become a volatile sub-segment within the broader cryptocurrency ecosystem. These assets often lack a fundamental use case and instead draw speculative interest from traders betting on social momentum. When official figures distance themselves from such projects, confidence can evaporate quickly, leading to sharp price corrections.

Japan has long been among the more stringent jurisdictions in setting regulatory frameworks for digital assets. Its Payment Services Act and Financial Instruments and Exchange Act establish registration requirements and investor protection mechanisms for exchanges and token issuers operating within the country. However, this governance framework primarily targets regulated entities, leaving decentralised creations like meme tokens in a less clear-cut category. That regulatory ambiguity complicates efforts to police tokens that may be named after public figures without consent.

The sharp downturn in the coin’s price following Takaichi’s statement reflects how sentiments can shift dramatically in unregulated corners of crypto markets. Traders who had driven speculative interest in the token — buoyed by social media buzz — appear to have retreated as the prime minister’s denial circulated. Some onlookers also noted that meme coins relying on novelty or persona-based branding are particularly susceptible to pump-and-dump patterns, rewarding early holders at the expense of later investors when momentum fades.

Legal experts note that the use of a serving head of government’s name for a speculative financial instrument raises both ethical and legal questions. “The unauthorised use of a public official’s name in association with a financial product can mislead investors about endorsement or legitimacy,” said a fintech law specialist at a Tokyo university. “Enforcement is difficult when creators remain anonymous and operate outside regulated frameworks, but it invites scrutiny from both legal and policy perspectives.”

Market participants following the episode have pointed to wider trends in the crypto space. Solana, the blockchain on which the token was launched, is favoured by some developers for its low transaction costs and fast settlement times, making it a popular choice for experimental tokens and decentralised applications. Yet this very accessibility can also lower barriers for projects that have little substantive backing or oversight, heightening risk for retail investors.

For Japan’s financial regulators, the incident highlights the ongoing challenge of balancing innovation and investor protection. While the country has taken significant steps to legitimise and supervise digital asset markets, decentralised and anonymous token creations sit outside conventional regulatory reach. As such tokens proliferate beyond mainstream exchange listings, authorities may confront pressure to clarify how existing laws apply or to craft new measures tailored to emerging market behaviours.

India’s economic expansion has moderated to 7.8 per cent, yet the country continues to outpace other major economies, reinforcing its position as the fastest-growing large market amid a fragile global backdrop.

Official data released by the Ministry of Statistics and Programme Implementation showed that gross domestic product growth eased compared with earlier quarters, reflecting softer manufacturing momentum and uneven external demand. Even so, the figure places India ahead of the United States, China, Japan and the euro area, where growth rates remain significantly lower.

The government’s updated projections under the revised national accounts data series marginally lifted the full-year estimate for the financial year ending March 31. Growth for 2025/26 is now projected at 7.6 per cent, supported by strong domestic consumption, resilient services exports and sustained public capital expenditure. The revision follows adjustments in base year calculations and improved data capture across informal and digital sectors.

Finance ministry officials have maintained that macroeconomic fundamentals remain intact. Gross fixed capital formation has shown steady expansion, underpinned by infrastructure outlays in transport, railways and energy. Private sector investment has begun to recover after a prolonged period of balance sheet repair, although it has not yet matched the pace of public spending.

Manufacturing output, a key pillar of the government’s production-linked incentive schemes, displayed mixed trends. Electronics and pharmaceuticals recorded robust growth, aided by global supply chain realignments and incentives aimed at boosting exports. However, textiles and certain consumer durables segments faced headwinds from weaker global demand and inventory corrections.

Agriculture provided a stabilising force despite weather-related uncertainties linked to El Niño conditions earlier in the year. Official estimates indicate that foodgrain production remained broadly stable, while rural consumption showed gradual improvement following targeted welfare transfers and support prices for key crops.

Services continued to drive overall growth. Information technology exports, financial services and travel-related activity expanded steadily. The rebound in tourism and aviation, alongside strong digital payments growth, contributed to higher value-added in contact-intensive sectors. Data from the Reserve Bank of India indicate that credit growth has remained in double digits, reflecting demand for retail loans and working capital financing.

Inflation dynamics have been closely monitored. Consumer price inflation eased from earlier peaks but remains sensitive to food price volatility and global energy movements. The central bank has maintained a cautious stance, balancing price stability with growth objectives. Monetary policy decisions have focused on anchoring inflation expectations while ensuring adequate liquidity for productive sectors.

Global comparisons underscore India’s relative strength. The International Monetary Fund has projected growth in advanced economies at below 2 per cent, with China expected to expand at a more moderate pace compared with its historical averages. Analysts note that India’s domestic demand-led model offers insulation against external shocks, though it remains exposed to commodity price swings and geopolitical tensions affecting trade routes.

Fiscal policy has remained expansionary but calibrated. The government has reaffirmed its commitment to fiscal consolidation, targeting a gradual reduction in the deficit as revenue buoyancy improves. Tax collections have exceeded budgeted estimates in several quarters, aided by stronger compliance and digital tracking systems under the goods and services tax framework.

Labour market indicators present a nuanced picture. Urban employment has improved, particularly in construction and services, yet concerns persist regarding job creation in high-value manufacturing. Economists argue that sustaining growth above 7 per cent will require deeper structural reforms, including land and labour flexibility, skilling initiatives and streamlined regulatory processes.

Foreign direct investment inflows have fluctuated amid global capital reallocation, but India remains a preferred destination for long-term investors seeking exposure to a large consumer base and expanding digital infrastructure. Sovereign bond inclusion in global indices is expected to broaden the investor base and reduce borrowing costs over time.

External sector performance has been mixed. Merchandise exports faced pressure from slowing global trade volumes, while services exports and remittances provided offsetting support. The current account deficit remains manageable, supported by strong capital inflows and healthy foreign exchange reserves.

Corporate earnings trends indicate resilience across banking, infrastructure and select manufacturing firms. Equity markets have responded positively to growth data, though volatility persists amid global uncertainty. Rating agencies have acknowledged India’s stable outlook, citing prudent macroeconomic management and structural reforms.