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Highlights of FY25/26 Results

HONG KONG SAR – Media OutReach Newswire – 28 May 2026 – Johnson Electric Holdings Limited (“Johnson Electric”), a global leader in electric motors and motion subsystems, today announced its results for the twelve months ended 31 March 2026.

Group sales for the 2025/26 financial year were US$3,650 million, an increase of 0.1% compared to the prior year. Net profit attributable to shareholders decreased by 23% to US$202 million or 21.59 US cents per share on a fully diluted basis. Adjusted net profit, excluding the effects of non-cash foreign exchange rate movements, the impairment of intangible assets, restructuring charges, and adverse fair value movements in investments, declined by 13% to US$234 million.

Sales Performance

The Automotive Products Group (“APG”) achieved sales of US$3,054 million, which amounted to 84% of total Group sales. Excluding currency effects, APG’s sales decreased by 3%.

Global automotive industry production volumes increased slightly over the prior year, but growth remains lacklustre in most markets due to affordability concerns and the challenges faced by OEMs and suppliers in adjusting to geopolitical uncertainty, tariff pressures, and the shifting economics of battery electric vehicles that continue to be shaped by the level of government subsidies available to consumers.

APG’s sales are divided broadly equally across the three major geographic regions of demand, but performance over the past year reflected distinct variations in local market conditions, as well as APG’s own mix of OEM customers and the timing of new program launches.

In Asia, the division’s sales declined by 7% on a constant currency basis primarily due to the ongoing erosion in market share held by Sino-foreign joint venture OEM customers in China. APG has continued to win significant new business awards from Chinese domestic OEMs and their suppliers, which now account for the majority of its sales in China. However, the division’s historically large share among joint venture customers has acted as a drag on its recent sales performance that is taking time to reverse. The domestic passenger vehicle market in China itself experienced a sharp slowdown in sales in the first quarter of 2026 due to the phasing out of trade-in subsidies designed to encourage the purchase of electric vehicles.

APG’s sales to the Americas increased by 1% on a constant currency basis in a market that saw total light vehicle production volumes broadly flat. The predominant factor constraining new car sales in North America is cost of living concerns, with many low to middle income car buyers struggling to afford new vehicles that, on average, have increased in price by over 30% since 2020.

In Europe, APG’s sales decreased by 2% on a constant currency basis. The European auto market continues to experience sluggish consumer demand at the same time that OEMs are hampered by excess production capacity and the impact of shifting emissions regulations on their product model line-ups.

APG’s strategy in the context of the varied and unpredictable operating environment for component suppliers is, firstly, to focus on bringing to market innovative motion technologies that enable electrification, reduce emissions, and enhance passenger safety and comfort. Secondly, APG aims to offer its diverse base of customers an unrivalled total cost and value proposition that combines speed, scale, and reliability of production with an adaptable global operating footprint.

The Industry Products Group (“IPG”) achieved sales of US$596 million – an increase of 2% compared to the prior year on a constant currency basis. After three successive years of declining sales, this marks an important return to growth for the division. In more commoditized product application segments, new business development has been redirected towards the rapidly growing base of Chinese manufacturers who are capturing an increasing share of the global market for consumer and commercial hardware goods – particularly for low-priced, entry-level products. In parallel, IPG is focused on supplying motion subsystem solutions to more specialized, higher-growth segments, including humanoid robotics, warehouse automation, medical devices, semiconductor manufacturing equipment, and liquid cooling applications.

Gross Margins and Operating Profitability

The Group’s gross profit of US$840 million, or 23.0% of sales, was essentially flat compared to the prior financial year. Slight increases in production staff costs, depreciation, and raw materials were offset by savings in other production overheads and direct labour.

Reported earnings before interest, tax and amortization (“EBITA”) amounted to US$258 million, a decrease of 22% compared to US$331 million achieved in the prior year. The decline was due to a combination of factors, including higher selling and administrative staff costs and other provisions, an impairment of intangible assets arising from a past acquisition, and reduced other income due to an adverse net change in the fair value of certain investments.

Net Profit and Financial Condition

Net profit attributable to shareholders decreased by 23% to US$202 million or 21.59 US cents per share on a fully diluted basis. Adjusted net profit, excluding the effects of non-cash foreign exchange rate movements, the impairment of intangible assets, restructuring charges, and adverse fair value movements in investments, amounted to US$234 million compared to US$268 million in the prior year.

The Group’s overall financial condition remains robust with a total debt to capital ratio of 10%, an interest coverage ratio of 22 times, and year-end cash reserves of US$902 million.

Dividends

The Board considers it appropriate to recommend maintaining the final dividend of 44 HK cents (5.64 US cents) per share, which together with the interim dividend of 17 HK cents per share, represents a total dividend of 61 HK cents (7.82 US cents) per share.

Chairman’s Comments on the Annual Results and Outlook

Commenting on the annual results for the financial year 2025/26, Dr. Patrick Wang, Chairman and Chief Executive, said, “Operating conditions for global manufacturing businesses during the financial year 2025/26 remained challenging, with end-market demand in most regions subdued and geopolitical events and uncertainties placing upward pressure on input costs.”

Dr. Patrick Wang further commented: “In the face of these headwinds, Johnson Electric maintained its long-standing resilience with sales and gross profit margins both holding up comparatively well. The bottom-line result, however, was negatively impacted by the effects of higher overhead expenses on a flat sales base, adverse net changes in the fair value of investments, and a non-cash intangible assets impairment charge.”

Concerning the near-term financial outlook, Dr. Patrick Wang said: “The global economy demonstrated resilience over the past year, despite the protracted conflict between Russia and Ukraine and the geopolitical shock of tariffs being imposed on US imports of goods from almost all countries. Looking ahead, the unstable and unpredictable conditions for trade and global manufacturing have been made even more precarious by the outbreak of war in the Middle East.”

“Johnson Electric has a long-standing track record in successfully navigating volatile global markets. In the near term, with geopolitical and macro-economic dynamics impossible to forecast with precision, management remains focused on cost control, managing the effects of inflation, and maintaining a prudent financial risk profile.”

“In parallel, however, we are also committed to invest in adapting and scaling our business model to meet strong underlying demand for our motion subsystem solutions in several high-growth end-markets and new product applications. Included among these are: thermal management systems for electric and hybrid vehicles that depend on a combination of water pumps, valves and actuators to support optimal vehicle cabin temperature, extend electric vehicle driving range, and contribute to longer battery life; solid oxide fuel cell power generation systems that are becoming established as an important source of low-emission, on-site electricity supply to AI data centres; and AI-enabled humanoid robots, which are widely viewed as one of the most significant industrial and commercial opportunities over the next ten to twenty years.”

Forward Looking Statements

This news release contains certain forward looking statements with respect to the financial condition, results of operations and business of Johnson Electric and certain plans and objectives of the management of Johnson Electric.

Words such as “outlook”, “expects”, “anticipates”, “intends”, “plans”, “believe”, “estimates”, “projects”, variations of such words and similar expressions are intended to identify such forward looking statements. Such forward looking statements involve known and unknown risk, uncertainties and other factors which may cause the actual results or performance of Johnson Electric to be materially different from any future results or performance expressed or implied by such forward looking statements. Such forward looking statements are based on numerous assumptions regarding Johnson Electric’s present and future business strategies and the political and economic environment in which Johnson Electric will operate in the future.

Note to Editors and Securities Analysts: The full text of the Annual Results announcement, includingfinancial statements, is available through the Investors section of company’s website at www.johnsonelectric.com
Hashtag: #JohnsonElectric

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

About Johnson Electric Group

At Johnson Electric, our vision is to be the world’s definitive provider of innovation and reliable motion systems.

We are a global leader in electric motors, actuators, motion subsystems and related electro-mechanical components, serving a broad range of industries including Automotive, Liquid Cooling, Robotic Joints, Smart Metering, Business Equipment, Ventilation, Home Automation, Large Appliances, Power Tools, Medical Devices and Lawn & Garden Equipment. The Group is headquartered in Hong Kong and employes over 30,000 individuals in more than 20 countries worldwide. We are listed on The Stock Exchange of Hong Kong Limited ( Stock no. 179). For further information, please visit: www.johnsonelectric.com.

Prudent Risk Management Yields Solid Outcomes metrics, Core Pawn Business Demonstrates Resilient Growth with Proposed Final Dividend of HK$1.15 cents per share

Results Highlights:

• Profit for the year attributable to shareholders increased by approximately 47.8% YoY to approximately HK$82.6 million
• Net profit margin increased by approximately 16.2 p.p. YoY to approximately 50.2%
• Impairment losses recognized on loan receivables decreased by approximately 72.6% YoY to HK$12.7 million
• Revenue from pawn loan business increased by approximately 12.9% YoY to approximately HK$98.6 million
• Proposed final dividend of HK$1.15 cents per share

HONG KONG SAR – Media OutReach – 27 May 2026 – The board of directors of Oi Wah Pawnshop Credit Holdings Limited (HKEx stock code: 1319.HK, the “Group” or “Oi Wah”) announced its annual results and its financial position. For the year ended 28 February 2026 (“FY2026“), the Group recorded revenue of approximately HK$164.4 million. Profit attributable to shareholders of the Company reached approximately HK$82.6 million, representing an increase of 47.8% compared to the year ended 28 February 2025 (“FY2025“). During the year, net interest margin expanded to approximately 17.2%.

As of 28 February 2026, the cash and cash equivalents (net of bank overdraft) amounted to approximately HK$376.9 million, representing a substantial increase of approximately 74.8% YoY. The net assets increased to approximately HK$1,155.7 million. Concurrently, the gearing ratio dropped to 4.1%. During the year, the earnings per share increased by approximately 48.3% YoY to HK 4.3 cents. The Board of Directors recommends a final dividend of HK 1.15 cents per share.

BUSINESS REVIEW

Mortgage loan business

In FY2026, the economy entered a phase of gradual recovery, leading to a steady resurgence in financing demand. The revenue from the mortgage loan business was approximately HK$65.8 million and accounted for approximately 40.0% of the Group’s total revenue during the year. The gross mortgage loan receivables were approximately HK$612.5 million as at 28 February 2026. During the year, net interest margin of the mortgage loan business was approximately 10.1%.

In FY2026, the Group maintained a disciplined and risk-sensitive approach in its lending activities. While we observed an encouraging stabilization in the residential property market, the Group exercised intensified vigilance toward the commercial and industrial sectors due to persistent supply overhangs and valuation pressures. Our underwriting strategy remained focused on building a resilient loan portfolio by prioritizing high-quality collaterals and prudent loan-to-value ratios. During the year, the average loan-to-value ratio for first mortgage was approximately 56.27%, while overall average loan-to-value ratio for subordinate mortgage was approximately 40.82% of which, average loan-to-value ratio of subordinate mortgage that the Group participated in was approximately 3.73%.

Reflecting our robust credit risk management, the charge for impairment losses recognized on loan receivables decreased from approximately HK$46.3 million to approximately HK$12.7 million, representing a decrease of approximately 72.6% or HK$33.6 million.

Pawn Loan Business

The revenue from the pawn loan business increased by approximately 12.9% to approximately HK$98.6 million in FY2026. The business’s profitability was further bolstered by a significant 73.0% increase in the gain on disposal of repossessed assets, which reached approximately HK$19.2 million as compared to approximately HK$11.1 million in FY2025. This performance was mainly attributed to the unprecedented strength of gold prices and a highly active secondary market for luxuries, particularly high-end timepieces. These factors have further solidified the pawn loan business as a resilient and strategic hedge against broader economic volatility.

During the year, the Group continued to channel resources to advertising and promotion to enhance the Group’s brand exposure. Such effort has generated demand for one-to-one pawn loan appointment services for pawn loans exceeding HK$0.1 million.

PROSPECTS

Looking ahead, the Group maintains a stance of cautious optimism regarding the global economic recovery. While macroeconomic and geopolitical uncertainties may persist, we remain dedicated to a proactive yet prudent strategy to ensure sustainable long-term growth and maximize returns for our shareholders.

Within the mortgage loan market, our strategy will be characterized by a calibrated and divergent approach. We continue to hold an optimistic outlook on the residential property segment, where we intend to capitalize on the stabilizing interest rate environment by identifying high-quality mortgage opportunities. Conversely, we maintain cautious and vigilant towards the commercial and industrial sectors. Given the structural challenges of inventory overhang and the increasing prevalence of distressed assets, the Group will exercise intensified oversight in its credit underwriting and collateral appraisal to mitigate valuation risks.

Regarding our core operations, we anticipate our pawn loan business to remain resilient, supported by a firm gold price trajectory and sustained demand for liquidity management. To further enhance operational efficiency, the Group is actively optimizing its pawn shop network. We are strategically identifying more cost-effective locations within our established service areas, aiming to relocate our pawn outlets to premises with more competitive lease terms to reduce operating overheads while maintaining our leading market presence.

Simultaneously, our strategic partnership with PACM Group remains a key driver for geographic diversification. By proactively exploring institutional credit opportunities in developed markets while maintaining rigorous investment oversight, the Group is well-positioned to navigate evolving industry dynamics and deliver stable value to all stakeholders.

Mr. Edward Chan, Chairman and CEO of the Company, said, “Global geopolitical and macroeconomic uncertainties intertwine, placing pressure on the global economic recovery and posing ongoing challenges to the local property market. In the face of a complex external environment, Oi Wah has consistently adhered to a proactive yet prudent management strategy. Our core pawn loan business has fully demonstrated its role as a strategic tool to hedge against macroeconomic fluctuations, showcasing the Group’s strong resilience amidst market challenges.

Looking forward, we will adopt a carefully calibrated differentiation strategy and continue to drive regional diversification. Under strict investment monitoring, we will actively explore business opportunities in developed markets to further expand our revenue streams and customer base, striving to deliver long-term, stable, and sustainable returns for our shareholders.”

Hashtag: #OiWah

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

About Oi Wah Pawnshop Credit Holdings Limited

Oi Wah is a financing service provider in Hong Kong, mainly providing short-term secured financing, including pawn loans and mortgage loans. The Group established its first pawnshop in 1975 and currently owns 10 pawnshops and one premium service center in various locations in Hong Kong. Oi Wah diversified into mortgage loan business in 2009. The Group is the first local pawn shop which successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited on 12 March 2013.

Another significant step towards the success of ICVAX®

HONG KONG SAR – Media OutReach Newswire – 27 May 2026 – Immuno Cure Group (“Immuno Cure“), headquartered at Hong Kong Science Park, is pleased to announce the inauguration of the research facility for its HIV therapeutic DNA vaccine (“ICVAX^®“) at the Center of International Innovation for Technology and Science (“CIITS”) located in Hetao, Shenzhen. The facility aims for the development and application of key technologies for the clinical research and commercialization of Immuno Cure’s ICVAX^®. ICVAX^® is developed by Immuno Cure with the aim of achieving antiretroviral therapy (“ART“)-free functional cure for HIV infection. This project is carried out in collaboration with Prof. Zhiwei CHEN, the Founding Director of the AIDS Institute of Li Ka Shing Faculty of Medicine, the University of Hong Kong (“HKU AIDS Institute“), and Prof. Hongzhou LU, President of the Third People’s Hospital of Shenzhen, in the capacity as advisors.

CIITS is a national-level achievement transformation platform co-built by Guangdong Province, Shenzhen Municipality, and Tsinghua University, and is located at the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone (“Hetao Co-operation Zone“). It is committed to building a world’s leading major technological innovation and industrialization platform with a global perspective. It focuses on key tracks including biomedicine, high-performance materials, and artificial intelligence (AI). It aims to aggregate global innovation resources, connect with leading enterprises, and conduct organized scientific research and achievement transformation to address national major strategic needs.

Since AIDS was first identified in 1981, 40.8 million people have died from HIV infection, with over 44.1 million people living with HIV globally. While antiretroviral therapy can effectively control HIV replication, it cannot cure the disease, highlighting the critical need for immunotherapies. Designed to enhance the host’s immune response, immunotherapies aim to achieve sustained viral control without lifelong ART, ultimately leading to complete viral suppression and functional cure. Immuno Cure’s proprietary innovative HIV therapeutic DNA vaccine, ICVAX^®, induces broad-spectrum, polyfunctional virus-specific T cells to achieve the ultimate goal of ART-free functional cure of HIV infection.

Immuno Cure completed the first-in-human Phase I clinical trial of ICVAX^® in November 2024, demonstrating excellent safety and promising immunogenicity. Two multi-center Phase II clinical trials—randomized, double-blind, and placebo-controlled—are scheduled to launch in Q2-2026 to evaluate the vaccine’s mechanism of action and efficacy. The trials will be conducted at Prince of Wales Hospital in Hong Kong, as well as eight top-tier hospitals in China, including the Shenzhen Third People’s Hospital, Beijing Ditan Hospital Affiliated to Capital Medical University, Beijing Youan Hospital affiliated to Capital Medical University, the Eighth People’s Hospital of Guangzhou, the Second People’s Hospital of Tianjin, the Sixth People’s Hospital of Zhengzhou, Chengdu Public Health Clinical Medical Center, and Chongqing Public Health Medical Center.

Notably, standardized testing systems for evaluating immunological and virological indicators are crucial for HIV vaccine clinical trials. However, the lack of domestic standard operating procedures (SOPs) for infectious samples in clinical trials hinders the clinical development and regulatory approval of novel infectious disease therapies like ICVAX^®. The mission of this research facility at CIITS is to establish an internationally aligned standardized clinical testing system for T-cell immunogenicity and viral reservoirs, as well as identify core biomarkers associated with vaccine efficacy — filling a domestic technical gap. Immuno Cure will offer the ICVAX^® Phase II clinical trial to facilitate the development of this standardized precision testing method for clinical sample analysis.

Dr. Xia JIN, CEO of Immuno Cure, stated, “I am delighted to be appointed to lead this key project of CIITS. I would also like to thank CIITS for the fully fitted modern laboratory space and the RMB10.0m funding support for this 2-year initial phase. My whole scientific team is committed to contributing diligently to the success of this project. I have no doubt that the development of a standardised testing regime would not only enhance the quality of our clinical trials for ICVAX^® but would also eventually be adopted as industry and national standards for the clinical translation of medicine for HIV/AIDS and other infectious diseases.

Renchen LIU, Executive Deputy Dean of Research Institute of Tsinghua University in Shenzhen and Director of CIITS, stated, “Warmest congratulations on the inauguration of the research facility for ICVAX^® at the CIITS. In the future, CIITS will continue to leverage its platform resources to implement full-chain incubation services. Project managers will provide service support throughout the entire project period, ensuring the smooth progress of the project through resource integration, talent recruitment and development, clinical collaboration, and achievement transformation. These efforts will safeguard the steady progress of the project.”

As the project advances, Immuno Cure’s ICVAX^® is positioned to become the world’s first therapeutic DNA vaccine to deliver an ART-free functional cure for HIV infection, bringing new hope to people currently living with HIV. In parallel, the standardized testing platform and collaborative innovation model developed through this effort will provide a scalable, replicable blueprint for R&D of novel therapies targeting other major infectious diseases. Together, these outcomes will strengthen the global competitiveness of biomedicine development in GBA and contribute to the development of national biosecurity capabilities and a more resilient public health system.

Hashtag: #ImmunoCure

https://immunocure.hk
https://www.linkedin.com/company/immuno-cure

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

About the Center of International Innovation for Technology and Science (“CIITS”)

Center of International Innovation for Technology and Science (CIITS), as the international headquarter of the Greater Bay Area National Center of Technology Innovation (GBA NCTI), is operated by Research Institute of Tsinghua University in Shenzhen (RITS). CIITS actively promotes the commercialization of technology and scientific advances with overseas and domestic innovation institutions and teams, as well as industry partners, focusing on areas such as biomedicine, advanced materials and artificial intelligence.

To learn more about CIITS, please follow the WeChat official account: gh_425f503135d5

About Immuno Cure

Immuno Cure is a clinical-stage biotechnology group headquartered at Hong Kong Science Park. Immuno Cure is committed to the R&D of innovative DNA vaccines and antibody immunotherapies for infectious diseases, inflammations, and cancers. Immuno Cure possesses two technologies: the “PD-1 Enhanced DNA Vaccine Platform” and the “Anti-Δ42PD1 Antibody”.

To learn more about Immuno Cure, please visit: www.immunocure.hk

The arrangement makes BlockShoals the approved local intermediary under the SEC’s StratBox framework, while Binance supplies technology, security systems, operational support and compliance expertise developed across regulated markets. The sandbox phase is expected to begin in the second half of 2026 and run for at least two years, giving regulators direct oversight of product testing before any wider rollout to users.

The move marks a notable shift in Binance’s strategy in the Philippines. Rather than seeking to restore access through an offshore model, the exchange is now pursuing market participation through a domestic company operating under SEC supervision. BlockShoals, a Philippine-incorporated fintech firm, secured approval under the crypto asset intermediary framework after a multi-year process involving regulatory conditions, compliance checks and investor-protection requirements.

Binance’s online presence in the Philippines was blocked in 2024 after the SEC said the platform had offered investment and trading services without the necessary licence. The regulator had warned the public about the exchange in November 2023, then moved to restrict website access through telecommunications authorities the following year. The action became one of the clearest signals that Manila intended to bring offshore digital-asset platforms under local rules.

That enforcement drive has since widened. The SEC’s crypto-asset service provider rules, issued in 2025, require firms serving Philippine users to register, maintain sufficient capital, observe marketing standards, and meet operational and reporting obligations. The framework is intended to protect retail investors while allowing controlled innovation in a market where crypto use remains high by regional and global standards.

The Philippines ranked ninth in the 2025 global crypto adoption index, reflecting strong activity across retail centralised services and digital-asset platforms. Usage has been driven by a young, mobile-first population, remittance demand, online work, gaming-linked crypto activity and a broad appetite for alternative financial products. That adoption has also heightened regulatory concern over fraud, weak disclosures, market volatility and the risks of foreign platforms serving users without domestic accountability.

Seker, Binance’s head of Asia-Pacific, described the Philippines as one of Southeast Asia’s most dynamic digital economies, saying frameworks such as StratBox create a channel for regulators and industry participants to work together while maintaining user protection and market integrity. The company has presented the BlockShoals partnership as part of a compliance-first approach rather than a conventional market relaunch.

BlockShoals has framed its role around local accountability. A company representative said the partnership was an opportunity to show that global digital-asset platforms and domestic regulatory frameworks could operate constructively together, adding that the firm would work under direct SEC supervision while building a secure platform for users.

The sandbox structure gives the SEC room to monitor how products are configured, how customer onboarding is handled, how risks are disclosed, and how safeguards such as know-your-customer checks, anti-money-laundering controls and transaction monitoring are applied. It also gives Binance a pathway to rebuild trust after a period in which its Philippine operations were defined by access restrictions and licensing concerns.

The Philippine approach mirrors a broader shift across Asia, where regulators are moving away from informal tolerance of offshore crypto activity and towards domestic licensing regimes. Singapore, Hong Kong, Thailand, Indonesia and Japan have tightened rules for exchanges, stablecoin activity, custody, marketing and investor suitability. The result is a more fragmented operating environment for global platforms, with access increasingly dependent on local registration, capital commitments and regulator-facing governance.

For Binance, the Philippine partnership carries strategic value beyond one market. The exchange has spent the past several years seeking to repair relations with regulators after facing scrutiny in multiple jurisdictions. A successful sandbox test in Manila would support its argument that global crypto platforms can adapt to local rules through partnerships, product controls and supervised deployment.

48% of job seekers now expect upfront salary disclosure before applying

HONG KONG SAR – Media OutReach Newswire – 27 May 2026 – As the European Union prepares to transpose the EU Pay Transparency Directive into law by June 2026, employers will soon be required not only to disclose pay scales but to provide unprecedented clarity on how pay decisions are made.

This movement is not confined to Europe. Across the US, UK, Canada, Brazil, Australia, and Japan, a combination of strict regulation and rising employee expectations is pushing organisations toward a new standard of openness.

According to the latest Pay Transparency E-guide from the world’s most trusted talent solutions company Robert Walters, 48% of job seekers say they only apply for roles where salary ranges are disclosed upfront, which reflects salary transparency is no longer a ‘nice-to-have’ but prerequisite for even engaging in the hiring process.

In Hong Kong, where salary disclosure has traditionally remained limited and highly individualised, these global developments are beginning to prompt new conversations around how pay is determined and benchmarked in the hiring process.

Growing public debate over current hiring practice to benchmark offers in Hong Kong

The common practice of requesting candidates’ current or previous salary is beginning to attract more discussion in Hong Kong. While employers have traditionally used this information to benchmark offers, some professionals question whether it places too much emphasis on past earnings rather than the value of the role or prevailing market rates.

“Candidates are increasingly asking how compensation is determined, not just what is being offered,” said John Mullally, managing director at Robert Walters Hong Kong. “Where decisions appear to be anchored to previous salary rather than the scope of the role, it can shape perceptions of fairness during the hiring process.”

At the same time, candidates are also paying closer attention to the amount of personal information requested during recruitment, reflecting broader expectations for transparency and consistency.

Wage secrecy culture under reassessment as Gen Z shows greater openness toward salary disclosure

Traditionally, salary has been a deeply private matter in Hong Kong, often viewed as a “confined personal message” that is rarely shared even with family members, which can make it difficult for employees to understand how pay decisions are made or how they compare with peers in similar roles.

However, data from the Robert Walters Salary Survey suggests that Gen Z is beginning to dismantle these long-standing cultural roots.

While only 5.5% of Hong Kong professionals overall are comfortable discussing their compensation with colleagues, that openness jumps to 24% among Gen Z. This stands in stark contrast to the 4% of Millennials and 2% of Gen X who are willing to share such information. This shift indicates that as the younger workforce grows, the cultural resistance to pay transparency is starting to fade.

“For Gen Z, transparency is a marker of fairness, equity, and social responsibility,” says John Mullally. “Candidates today have more access to market information and are making more informed decisions. Greater transparency can help build trust earlier in the process and support more constructive conversations around expectations.”

Global standards, local implications

With stricter requirements emerging in regions such as Europe, practices in one location are increasingly shaping expectations in others. Companies that operate across borders may find that consistency in how compensation is communicated becomes more important in attracting and retaining talent.

“For multinationals, this is more than just a compliance task. Operating transparently in one market while remaining opaque in another creates an ‘information asymmetry’ that erodes internal trust. We are seeing forward-thinking firms ‘level up’ by adopting a consistent, global standard of transparency, even before local legislation mandates it.” comments John Mullally.

While standardisation is difficult in industries like sales or professional services, where pay is often tied to commissions and individual portfolios, companies may need to balance flexibility with clearer communication. As expectations evolve, greater openness may become an important factor in securing and retaining talent.

Navigating complexity: how organisations can prepare

To prepare for this shift, Robert Walters advises Hong Kong organisations to move beyond simple disclosure toward building a robust job architecture. This framework must clearly explain the logic behind pay decisions, ensuring that transparency provides clarity rather than confusion when employees compare compensation.

Businesses should also prioritise internal equity audits to resolve any unjustified pay gaps before they lead to friction. Ultimately, the success of this transition depends on communication; managers must be trained to lead data-driven, honest conversations about pay to ensure transparency becomes a foundation for trust and a stronger employer brand.

“While full transparency on pay is still some way off in Hong Kong, expectations are clearly evolving,” Mullally said. “Organisations do not need to replicate other markets overnight but taking steps towards clearer and more consistent communication around pay will become increasingly important in staying competitive.”
Hashtag: #RobertWaltersHongKong #HongKongHiringMarket #HiringTrends #Benefits #Salary #Hiring #2026 #PayTransparency

https://www.robertwalters.com.hk/
http://www.linkedin.com/company/robert-walters

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

Robert Walters Hong Kong

About Robert Walters – Robert Walters is the world’s most trusted talent solutions business. Across the globe, we deliver recruitment, recruitment process outsourcing and advisory services for businesses of all shapes and sizes, opening doors for people with diverse skills, ambitions, and backgrounds. We help organisations find the skills and solutions to reach their goals and assist talented professionals to power their unique potential.

The Hong Kong office specialises in placing high-calibre professionals on a permanent or contract basis in the following specialities: accounting & finance, construction, property & engineering, financial services, HR & business support, legal & compliance, sales & marketing, supply chain, logistics & procurement, and tech & transformation.

About the Robert Walters Pay Transparency E-guide

With landmark legislation going live in Europe this June and conversations around salary openness gaining momentum worldwide, the era of “confidential” compensation is rapidly coming to an end. In its place is a new corporate landscape defined by transparency, clarity, and open dialogue around pay. This comprehensive e-guide explores the practical realities of this global shift, defining what pay transparency actually looks like in practice and examining why open compensation structures matter now more than ever in the modern workplace.

The guide also provides deep insights into how employee and job applicant expectations are shifting on a global scale, highlighting the direct link between pay transparency and a company’s Employee Value Proposition (EVP). Ultimately, it offers actionable, strategic advice for businesses and hiring managers on how to successfully navigate the cultural and structural transitions within their own organisations.

To download the full Robert Walters Pay Transparency E-guide, please contact us or visit: https://www.robertwalters.com.hk/insights/hiring-advice/e-guide/global-pay-transparency.html

Regulators have moved against Futu Securities International, Tiger Brokers and Longbridge Securities, accusing them of operating securities businesses on the mainland without approval, soliciting domestic clients and processing offshore trading orders in breach of securities, fund and futures rules. The action has disrupted a once-popular route for mainland investors seeking exposure to global technology stocks, Hong Kong initial public offerings and US-listed Chinese companies.

The China Securities Regulatory Commission and other agencies have ordered a two-year rectification programme aimed at closing unauthorised cross-border securities, futures and fund businesses. During the wind-down period, affected mainland clients will be allowed to sell existing holdings and withdraw money, but will not be permitted to make new purchases through the targeted channels.

The clampdown marks a sharp escalation from the regulatory warning issued in late 2022, when online brokers were told to stop opening new accounts for mainland investors and remove trading apps from domestic app stores. Existing clients had largely been allowed to continue trading, preserving a grey-zone channel that gave better-off retail investors access to overseas markets despite China’s capital controls.

Futu has disclosed a proposed penalty of about 1.85 billion yuan, while Tiger Brokers’ parent, UP Fintech Holding, faces penalties and confiscation of illegal income totalling more than 400 million yuan. Longbridge has said it will comply with rectification requirements and that client fund safety is not affected. Regulators have also indicated that illegal gains from related onshore and offshore entities will be confiscated, with final administrative decisions subject to formal procedures.

Market reaction was swift. Shares of Futu and UP Fintech fell sharply in US trading after the enforcement announcement, while pressure spread to parts of the Chinese ADR universe as investors assessed whether reduced mainland retail participation could weigh on offshore-listed stocks. Hong Kong market participants also began reassessing the impact on brokerage flows, custody transfers and IPO distribution.

Citic Securities has estimated that as much as HK$250 billion in assets in Hong Kong could be affected by the crackdown, with Futu accounting for a large portion. The figure underlines the scale of wealth that had moved through offshore brokerage platforms even after Beijing tightened scrutiny of capital outflows and online financial services.

Investors are now exploring alternatives, including moving positions by custodian transfer to licensed Hong Kong banking channels, using accounts with international banks, or relying on approved schemes such as Stock Connect, the Qualified Domestic Institutional Investor programme and Wealth Management Connect. Those channels, however, have limits on eligibility, investment scope, quotas and product access, making them less flexible than the digital brokerage platforms that gained popularity during the pandemic-era boom in US and Hong Kong equities.

Beijing’s concern is not only securities law compliance. The wider policy objective is to control capital outflows, strengthen oversight of retail investment activity and prevent unlicensed overseas institutions from marketing financial products inside the mainland. The campaign also aligns with efforts to support domestic capital markets, where authorities have been trying to stabilise sentiment and encourage household savings to flow into regulated local investment products.

For the brokers, the enforcement action threatens an important part of their client base. Futu and Tiger expanded rapidly by offering low-cost, mobile-first access to overseas securities, appealing to younger and wealthier mainland clients who wanted exposure beyond A-shares. Both companies have been diversifying into Hong Kong, Singapore, Japan, Australia and the United States, but mainland-linked business remains material to investor perceptions of their growth prospects.

The crackdown may also reshape Hong Kong’s role as a financial gateway. Licensed institutions could benefit from account transfers and higher compliance-driven demand, but regulators in the city are expected to scrutinise whether account-opening documents, residency claims and fund-transfer routes meet legal requirements. That could raise operational costs and slow onboarding for brokers and banks serving mainland-related clients.

Revenue Up 35.4% Year-on-Year API Token Call Volume Surges Nearly 6 Times

HONG KONG SAR – Media OutReach Newswire – 22 May 2026 – Phancy Group Co., Ltd. (“Phancy” or “The Company”, stock code: 6682.HK), a leading general artificial intelligence company, today announced its unaudited consolidated results for the first quarter ended 31 March 2026.

During the period, Phancy achieved revenue of approximately RMB1.458 billion, representing a 35.4% year-on-year increase. Gross profit margin remained at 35.1%. Phancy leveraged its deep expertise in full-stack AI cloud services, to capitalize on the accelerating adoption of localized computing power and strong enterprise demand for AI solutions. The Company achieved robust growth in its core businesses, accelerated product innovation, and secured several major partnerships, sustaining strong operational momentum.

2026 First Quarter Business Highlights:

Unified Enterprise AI Platform Drives Explosive Core Business Growth

Global computing resources remain constrained, while demand for both private enterprise AI deployments and API-based model calls continues to grow rapidly. Phancy’s enterprise-grade AI platform is built on a unified core architecture that seamlessly supports both API calling scenarios and dedicated private deployments. This significantly boosts AI application efficiency and resource utilization. Supported by a mature computing power supply chain developed over many years, Phancy’s deployable computing power resources have increased by over 200%. This enables the Company to effectively meet surging Token demand and consistently deliver stable, high-quality AI services to its customers.

In the first quarter of 2026, API Token call volume surged nearly 6 times compared to the same period in 2025, and already accounted for nearly 40% of the full-year 2025 total. Meanwhile, the Agentic AI business expanded rapidly, with deepening commercial adoption. Orders on hand grew nearly 100% compared to the end of 2025, emerging as a major growth driver for the Company.

AI Technology Iteration Accelerates, Commercialization Beats Expectations

Building on its continued push into digital employee applications and AI empowerment across business units, Phancy has significantly shortened the product development cycle from R&D to commercialization, enhancing overall operational efficiency and customer satisfaction.

As of mid-May 2026, ModelHub XC has completed adaptation and optimization for over 70,000 AI models on domestic chips, achieving more than 70% of its full-year target – well ahead of schedule.

In May, Phancy launched PhanthyMovie, a professional-grade AI video generation platform designed to enhance creativity, control, and stability in video production, enabling standardized and large-scale content creation for the industry.

Leveraging its advanced technology and proven execution capabilities, PhanthyMovie achieved rapid commercial traction. Just days after launch, the Company entered into a strategic cooperation agreement with Huanxi Media, covering approximately US$200 million in AI Token usage. The two parties will also collaborate on the development of a next-generation AI-powered film and television content production platform, further strengthening Phancy’s position in the AI-driven cultural and creative sector.

Core Products Align Closely with Policy Trends, Strengthening Compute-Model Integration

Since May 2026, China’s AI sector has seen a series of positive policy developments focused on computing infrastructure, data element circulation, and open-source compliance governance. Phancy’s core products, including HAMi vGPU and ModelHub XC, are well-aligned with national policy directions and mainstream industry trends.

In terms of computing resource allocation, policies emphasize cross-regional collaboration and broader access to computing power. Phancy’s HAMi vGPU offers unified scheduling and fine-grained resource partitioning, effectively improving utilization rates, optimizing data center energy efficiency, and supporting unified management across multiple chips to boost single-card efficiency.

In data and model governance, the government continues to promote high-quality dataset development and compliance management. ModelHub XC supports multi-model adaptation and optimization, incorporates data traceability and security certification features to help enterprises reduce compliance risks, and uses the EngineX engine for batch adaptation of domestic chips and models. This significantly improves compatibility while enhancing Token output efficiency through targeted model tuning.

Through deep integration of its computing and model layers, Phancy has built a comprehensive “Compute–Model” integrated solution. This addresses key industry needs such as efficient computing utilization, secure data supply, enterprise compliance, and domestic substitution, while strengthening its technological moat. The Company is well positioned to capture policy dividends and industry opportunities, supporting enterprises in their digital and intelligent transformation.

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

About Phancy Group

Phancy Group (6682.HK) is a leading full-stack AI cloud services platform, providing comprehensive solutions for the AI 2.0 era. Our offerings include SageAIOS, HAMi vGPU and ModelHub XC, delivering efficient and scalable AI infrastructure with end-to-end capabilities. We provide a complete solution from heterogeneous compute resource management and optimization to the deployment of intelligent agent models. These solutions empower digital transformation across a wide range of industries, supporting our vision of building a large-scale and efficient “Token Factory.”

Guided by the mission of “AI for Everyone” and positioned as the “Navigator of AI,” Phancy Group is committed to becoming a global leader in Artificial General Intelligence.