A major expansion of Yas Waterworld on Yas Island is scheduled to open in April, marking a significant addition to Abu Dhabi’s leisure and tourism portfolio as developer Miral pushes ahead with plans to position the emirate as a global entertainment destination. Miral, which oversees the development of Yas Island’s attractions, said the upgraded waterpark will introduce a broad range of new rides, attractions and immersive experiences […]
Cybercriminals are exploiting the popularity of artificial intelligence tools by distributing fake ChatGPT-themed Android applications designed to steal user credentials and compromise social media accounts, according to cybersecurity researchers tracking a coordinated phishing campaign. The operation centres on abuse of Google’s Firebase App Distribution platform, a legitimate service used by developers to test applications before public release. Attackers are leveraging the platform to send invitation-style emails that […]
Arabian Post Staff -Dubai Donald Trump has indicated that talks between the United States and Iran have reached what he described as “major points of agreement”, raising the prospect of a diplomatic breakthrough after a prolonged period of tension between the two countries. Speaking after a fresh round of discussions, Trump said negotiations held on Sunday were constructive and would continue into the following day. He added […]
Under the partnership, Etiqa Insurance Singapore’s suite of Shariah-compliant Family Takaful products will be distributed through AIA Singapore and AIA Financial Advisers, the nation’s largest tied distribution channel comprising more than 6,300 highly professional, qualified AIA insurance representatives. This expanded reach significantly increases accessibility and choice for customers seeking principled and values-aligned protection and savings options.
Growing Demand for Values-Based Financial Solutions
Global demand for Takaful continues to rise as consumers increasingly prioritise financial solutions aligned with their personal values. The global Takaful market is projected to grow from US$36.5 billion in 2025 to US$63.6 billion by 2030, representing a compound annual growth rate (CAGR) of 11.7%[1]. Since launching its Takaful offerings, Etiqa Insurance Singapore has seen strong and accelerating momentum, supported by rising consumer awareness and growing confidence in Shariah-compliant financial protection.
Creating a Unified Takaful Ecosystem in Singapore
The partnership brings together the complementary strengths of both insurers to build a more cohesive and accessible Takaful ecosystem:
Together, the two organisations are positioned to significantly expand the availability, understanding and adoption of Takaful solutions in Singapore.
“This partnership marks an important step in advancing access to Shariah-compliant protection and savings solutions in Singapore,” said Claudia Soh, Acting Chief Executive Officer, Etiqa Insurance Singapore. “By leveraging AIA’s extensive distribution network and strong presence within the Muslim community, we can scale Takaful solutions more effectively and reach customer groups that have historically been underserved. As demand for values-aligned financial planning grows, this collaboration reinforces our commitment to inclusive and responsible insurance.”
“This partnership with Etiqa is a pivotal step in our commitment to inclusivity and we are excited to work together,” said Alvin Fu, Chief Distribution Officer, AIA Singapore. “By integrating Etiqa’s Shariah-compliant expertise with our highly professional AIA insurance representatives, we can serve a wider customer base, close protection gaps and help more families live Healthier, Longer, Better Lives.”
Bringing Takaful to the Masses
While rooted in Islamic principles, Shariah-compliant, values-based Takaful solutions serve a broad spectrum of customers and appeal to increasingly values-driven consumers seeking ethical, transparent and socially responsible financial protection and savings solutions beyond the Muslim community.
Beyond distribution, Etiqa Insurance Singapore shares a long-term commitment to raising awareness, understanding and adoption of Takaful solutions across Singapore. Through educational programmes and community engagement initiatives, the partnership aims to enhance financial literacy, deepen understanding of Takaful principles and bring Takaful education directly to underserved communities, empowering consumers to make informed decisions on protection and savings.
Hashtag: #EtiqaSingapore #EtiqaSG
The issuer is solely responsible for the content of this announcement.
Etiqa Insurance Pte. Ltd. (EIPL) is a life and general insurance company licensed and regulated by the Monetary Authority of Singapore and governed by the Insurance Act 1966. Having protected customers in Singapore since 1961 under the name United General Insurance Co. Sdn. Bhd., the company transitioned into the Singapore branch of Etiqa Insurance Berhad in 2009. Today, EIPL in Singapore stands as the pivotal operating entity of Etiqa Insurance Group, a leading insurance and takaful provider in ASEAN.
EIPL offers a comprehensive range of life and general insurance products accessible through its diverse distribution channels, including bancassurance, agents, brokers, financial advisers, partnerships, direct and online sales via Tiq by Etiqa. Etiqa is rated ‘A’ by credit rating agency Fitch for the group’s ‘Favorable’ business profile. EIPL is owned by Maybank Ageas Holdings Berhad, a joint venture combining local market expertise with international insurance knowledge, with 69% ownership by Maybank, the fourth largest banking group in Southeast Asia, and 31% by Ageas, an international insurance group operating across 13 countries.
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR[2], Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR[3], and a 49 per cent joint venture in India. In addition, AIA has a 24.99 per cent shareholding in China Post Life Insurance Co., Ltd.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$345 billion as of 31 December 2025.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 44 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock codes “1299” for HKD counter and “81299” for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol “AAGIY”.
Malicious actors are exploiting search engine rankings to distribute trojanised software installers that deploy the AsyncRAT remote access tool, in a campaign that has expanded steadily since October 2025 and now targets more than two dozen widely used applications. Security analysts tracking the operation say attackers are manipulating search optimisation techniques to push fraudulent download portals to the top of results pages, increasing the likelihood that unsuspecting […]
Matein Khalid The past eight weeks have seen a multi-trillion-dollar market cap meltdown. Wall Street developed a sudden aversion to software companies, viewing them as victims of the AI revolution. At the same time, the war in the Gulf has led to a sharp rise in the Volatility Index, the US dollar and US Treasury bond yields. These are macro headwinds for high-beta Nasdaq sectors, including software, and have […]
Global bond markets are sending a message to the White House, and it’s one that cannot be ignored. This comes even as President Donald Trump hails “productive” talks with Iran aimed at ending the conflict, signalling a potential diplomatic off-ramp. Yet despite this, markets remain unconvinced that tensions will ease quickly. As tensions escalate between the US and Iran, investors aren’t responding in the way many would […]
The proposed deal centres on AMD’s latest data centre-grade accelerators, designed to rival dominant offerings in the global AI chip market. Upstage, known for its large language model development and enterprise AI services, is positioning the potential purchase as a step towards building sovereign computing capabilities within Korea, where demand for generative AI infrastructure is rising sharply across finance, manufacturing and public-sector applications.
People familiar with the discussions indicate that the scale of the planned acquisition reflects both immediate computational needs and longer-term ambitions to establish a domestic AI ecosystem capable of training and deploying advanced models without depending heavily on foreign cloud providers. The move aligns with broader efforts in several countries to localise AI infrastructure amid geopolitical concerns and supply chain constraints.
AMD has been expanding its footprint in AI hardware as companies seek alternatives to entrenched suppliers. Its latest accelerators, part of the MI300 series, are designed to handle large-scale model training and inference workloads with improved memory bandwidth and energy efficiency. Industry analysts view Upstage’s interest as a sign that AMD’s strategy of targeting hyperscalers and emerging AI players is gaining traction beyond North America.
Upstage has grown steadily since its founding, focusing on document processing, natural language understanding and enterprise automation. Its proprietary models have been deployed across industries including banking and legal services, where demand for domain-specific AI solutions continues to expand. Executives at the company have previously emphasised the need for greater control over computing resources, citing cost volatility and limited access to high-performance GPUs as barriers to scaling.
Securing a large volume of accelerators could enable Upstage to train more advanced models locally while offering competitive AI services to regional clients. It also positions the company to compete with larger global players that benefit from extensive infrastructure investments. Market observers note that access to compute power has become a defining factor in the AI race, with startups increasingly seeking direct hardware procurement rather than relying solely on cloud-based capacity.
The discussions come amid tightening supply conditions for AI chips, driven by surging demand from technology firms, research institutions and governments. Export controls and trade restrictions have further complicated access to advanced semiconductors, prompting countries in Asia and Europe to accelerate domestic capacity-building initiatives. Korea, home to major semiconductor manufacturers, has been exploring strategies to strengthen its position across the AI value chain.
Government-backed initiatives have aimed to support AI development through funding, talent programmes and infrastructure investments. The potential deal between Upstage and AMD reflects private-sector momentum complementing these policy efforts, as companies seek to capitalise on the growing importance of AI across economic sectors.
Competition in the AI hardware market has intensified as AMD, Intel and other players attempt to challenge established leaders. While Nvidia maintains a dominant position, particularly in training large language models, customers are increasingly evaluating alternative suppliers to diversify risk and manage costs. AMD’s recent partnerships with cloud providers and enterprise customers highlight a shift towards a more competitive landscape.
Analysts caution that large-scale procurement of accelerators involves significant logistical and operational challenges, including data centre readiness, energy consumption and integration with existing software frameworks. Upstage would need to invest in infrastructure and engineering capabilities to fully utilise the hardware, particularly if it aims to build a self-sufficient AI platform within Korea.
At the same time, the strategic implications extend beyond a single company. A successful deployment of large-scale compute resources by Upstage could encourage other regional players to pursue similar investments, contributing to a broader decentralisation of AI development. This trend could reshape how AI capabilities are distributed globally, reducing the concentration of computing power in a handful of technology hubs.
Australia’s sweeping restriction on social media access for under-16s is reshaping online safety discussions, with early enforcement drawing both support and scrutiny as Canada and other countries weigh adopting similar measures. The law, passed in late 2024 and enforced in phases since early 2025, requires major platforms to prevent users under 16 from creating accounts without verified parental consent. The policy places the burden on companies to […]
Kenya has moved to grant amnesty to its citizens who were recruited to fight for Russia in the war against Ukraine, signalling a shift towards rehabilitation over prosecution as authorities confront a growing trend of foreign recruitment tied to economic vulnerability. The announcement followed high-level diplomatic engagements led by Foreign Affairs Cabinet Secretary Musalia Mudavadi, who confirmed that Kenyans identified as having travelled to join Russian military […]
Small and medium-sized enterprises (SMEs), which form the backbone of most economies, are particularly vulnerable. The WEF’s 2024 Global Cybersecurity Outlook[2]highlights that limited access to cyber services, tools and skilled talent continues to hinder smaller organisations from achieving even baseline resilience, an increasingly urgent concern in today’s highly interconnected digital ecosystem. As a result, SMEs are often more exposed to common risks such as accidental data leaks and unpatched vulnerabilities in the software and open‑source components used to build modern digital applications.
To help address these challenges, three homegrown companies from Singapore, AgileMark, Scantist and StrongKeep are pioneering technologies that make cybersecurity more accessible and effective for businesses, including SMEs without dedicated security teams. Their solutions focus on strengthening data loss protection and mitigating risks from human behaviours like screen photography and unsafe network use, uncovering hidden vulnerabilities in software systems, and simplifying the adoption of essential security measures through easy-to-deploy platforms.
These companies are supported by the S$20 million CyberSG Talent, Innovation and Growth Collaboration Centre (TIG Centre), a joint initiative between the National University of Singapore (NUS) and the Cyber Security Agency of Singapore (CSA). The TIG Centre works closely with cybersecurity companies and start-ups to co-develop solutions that help organisations stay ahead of emerging threats while enabling the safe and confident adoption of new technologies.
“Many businesses today, especially SMEs, face escalating cyber risks but often lack the resources to protect themselves effectively. In Singapore, online scams and ransomware attacks continue to be key concerns. At the same time, advances in AI are transforming both cyber threats and cybersecurity and rapidly expanding the attack surface of enterprises. Through the CyberSG Talent, Innovation and Growth Collaboration Centre, we support innovators developing practical solutions to address these challenges, and bring Singapore’s most promising cybersecurity start-ups to the global stage at the RSAC 2026 Conference,” said Mr Willis Lim, Executive Director, TIG Centre.
AgileMark: Preventing data leaks caused by everyday human actions
Many data exposure incidents stem not from sophisticated cyberattacks, but from routine behaviours such as photographing screens, copying sensitive documents or working in unsecured environments.
AgileMark mitigates this risk by introducing visible, dynamic watermarks on corporate screens. These act as behavioural cues to deter unauthorised capture, reinforce employee awareness of data sensitivity, and enable traceability if leaks occur. Designed with a human-first approach, it addresses the reality many SMEs face: limited time, resources and expertise to manage complex tools. By focusing on user behaviour rather than adding new systems, it reduces risk without increasing operational burden. Today, AgileMark protects over 300,000 devices globally, reducing investigation time from weeks to hours and enabling faster response to potential data breaches.
Scantist: Finding security flaws in software before hackers do
As organisations accelerate software development, greater reliance on open-source components and third-party dependencies has increased exposure to supply chain risks and hard-to-detect vulnerabilities.
Scantist provides an AI-powered application security platform that helps organisations manage open-source, software supply chain and AI-related risks across the development lifecycle, from code to deployment. Complementing its defensive capabilities, Scantist also offers an autonomous, agentic penetration testing solution that simulates attacker behaviour, enabling more frequent testing and reducing assessment timelines from days to hours. For SMEs in particular, Scantist makes advanced security testing and risk management more accessible without requiring large in-house security teams, helping businesses strengthen resilience and keep pace with evolving threats in a cost-effective, scalable manner.
StrongKeep: Making cybersecurity simpler and more affordable for SMEs
Many SMEs face barriers to adopting cybersecurity tools due to cost, complexity and the need for specialised expertise.
StrongKeep addresses this challenge with an all-in-one cybersecurity platform tailored for SMEs. The platform integrates essential protections such as device security, website filtering, phishing awareness training and password management into a single, easy-to-use system. Organisations can deploy the platform and begin protecting their systems in under 60 minutes, even without dedicated cybersecurity staff. With subscriptions starting from S$39 per month, the solution enables SMEs to achieve comprehensive protection and compliance up to 10 times faster than traditional approaches.
Showcasing Singapore’s cybersecurity solutions at the RSAC Conference 2026
AgileMark, Scantist and StrongKeep are among eight TIG Centre-supported companies that will showcase their solutions at Singapore’s national pavilion at the RSAC 2026 Conference, held from 23 to 26 March 2026 at the Moscone Center in San Francisco, United States.
Organised by the TIG Centre and SGTech, the leading trade association for Singapore’s tech industry, the Singapore Pavilion underscores Singapore’s role as a cybersecurity innovation hub and a strategic gateway to Asia’s rapidly expanding digital economy.
Hashtag: #cybersecurity #singaporecybersme #CybersgTIG #nusenterprise #NUS
https://www.rsa.cybersg.sg/
https://www.linkedin.com/company/cybersg-tig-collaboration-centre/
The issuer is solely responsible for the content of this announcement.
The National University of Singapore (NUS) is Singapore’s flagship university, which offers a global approach to education, research and entrepreneurship, with a focus on Asian perspectives and expertise. We have 16 colleges, faculties and schools across three campuses in Singapore, with more than 40,000 students from 100 countries enriching our vibrant and diverse campus community. We have also established more than 20 NUS Overseas Colleges entrepreneurial hubs around the world.
Our multidisciplinary and real-world approach to education, research and entrepreneurship enables us to work closely with industry, governments and academia to address crucial and complex issues relevant to Asia and the world. Researchers in our faculties, research centres of excellence, corporate labs and more than 30 university-level research institutes focus on themes that include energy; environmental and urban sustainability; treatment and prevention of diseases; active ageing; advanced materials; risk management and resilience of financial systems; Asian studies; and Smart Nation capabilities such as artificial intelligence, data science, operations research and cybersecurity.
For more information on NUS, please visit nus.edu.sg.
At NUS Enterprise, the entrepreneurial heart of the National University of Singapore (NUS), we advance the University as a global magnet for talent and an engine for impactful innovation. We seed ideas, spark innovation, and scale ventures through our distinctive 360° framework, integrating education, ecosystem support, and world-class venture building and investment.
This creates a self-reinforcing cycle powering both educational and entrepreneurial outcomes across industries and communities. Since 2001, NUS Enterprise has nurtured 10 unicorns, over 3,000 start-ups, and 4,300 students. Our ambition: to improve the lives of 1 billion people by 2035.
For more information on NUS Enterprise, please visit enterprise.nus.edu.sg.
The CyberSG Talent, Innovation and Growth Collaboration Centre, established by the Cyber Security Agency of Singapore (CSA) in partnership with the National University of Singapore (NUS), will play a key role in achieving a comprehensive approach to ecosystem development which consolidates and enhances CSA’s existing talent and innovation initiatives. The Centre will enable synergies between cybersecurity talent, innovation and growth industry, by serving as a national node to integrate and create relevant programmes for industry and talent development. It will help build a vibrant cybersecurity ecosystem by bring together industry, academia, individual and government stakeholders to leverage the opportunities posed by digitalisation.
Heavy rain, strong winds and widespread dust are set to affect large parts of the United Arab Emirates over the coming days, prompting authorities to issue alerts and step up preparedness measures across key sectors. The National Centre of Meteorology has forecast a period of unstable weather driven by a combination of low-pressure systems and shifting wind patterns, with conditions expected to vary sharply between regions. Officials […]
Saudi Arabia ordered Iran’s military attaché, his assistant and three other embassy staff to leave the kingdom within 24 hours after declaring them persona non grata, marking one of Riyadh’s sharpest diplomatic steps since the current regional war began. The Saudi foreign ministry said the expulsions were tied to what it called continued Iranian attacks on Saudi territory, after waves of missiles and drones were launched at […]
Sticker prices for website domains are drawing fresh scrutiny after a developer’s account of soaring renewal fees for a. online address highlighted what analysts describe as a structural imbalance in the domain name market, where low entry costs can mask significantly higher long-term expenses. The case centres on a developer who secured a. online domain at a heavily discounted introductory rate, only to face a sharp increase […]
Dubai’s property market is showing a level of consistency in 2026 that stands out given the broader geopolitical backdrop. Activity has remained elevated into the first quarter, following record transaction levels in recent years. Price growth has also been significant, with residential values rising by roughly 50–60% since the 2020 market trough. These trends point to sustained engagement rather than a short burst of activity. What sits […]
Iran will not play any of its World Cup matches on United States soil if it qualifies for the expanded 2026 tournament, the country’s football chief has indicated, deepening uncertainty over one of Asia’s leading teams amid escalating geopolitical tensions. The statement follows Iran’s early qualification for the finals, making it among the first nations to secure a place in the 48-team competition jointly hosted by the […]
A zero-day vulnerability in widely deployed Cisco firewall systems has been exploited for months by a ransomware group, with security teams warning that the breach highlights deep gaps in enterprise network defences and patch management practices. Analysis by Amazon Web Services’ security leadership indicates that attackers began abusing the flaw as early as January, gaining unauthorised access to targeted environments before the vulnerability became publicly known. The […]
Refining our Identity After Years of Strategic Growth
Since its inception, PFIS Group has undergone an extraordinary journey of expansion. What began as a specialised boutique advisory practice in cross-border insurance has evolved into a formidable international platform. Today, the firm operates 8 offices worldwide, holds intermediation licenses in 34 countries, and has successfully advised on the structuring and restructuring of over USD 1 billion in private wealth.
“After years of rapid international expansion and hundreds of complex client engagements, we realised that our identity needed to catch up with our evolution,” said Mr. Samy Reeb, CEO of Alpina Legacy. “This rebranding comes at a pivotal moment. After establishing a robust global footprint, we are returning to our roots—not by shrinking our horizons, but by deepening the Swiss values that have always been the bedrock of our success.”
A Name that Bridges Heritage and Future
The new name, Alpina Legacy, was meticulously chosen to reflect the dual pillars of the firm’s value proposition:
Strengthening Partnerships and Roots
The transition to Alpina Legacy also reinforces the firm’s commitment to its global network of private banks, asset managers, and institutional partners.
“Our business partners are the lifeblood of our operation. By rebranding to Alpina Legacy, we are signalling our long-term commitment to the standards they expect from a Swiss-rooted firm,” added Samy Reeb. “As we look back on our years in operation, we recognise that our growth was only possible because we remained close to our roots while remaining agile in the face of complex regulatory environments.”
A New Chapter in Wealth Structuring
While the name and visual identity have changed, Alpina Legacy’s dedication to excellence remains constant. The firm will continue to provide bespoke cross-border planning and international insurance solutions, ensuring that the wealth created today becomes the enduring legacy of tomorrow.
Hashtag: #AlpinaLegacy
The issuer is solely responsible for the content of this announcement.
Alpina Legacy (formerly PFIS Group) is a leading international insurance and wealth structuring firm. With a global reach spanning 8 offices and licenses in 34 countries, Alpina Legacy specialises in providing compliant, cross-border life insurance and wealth planning solutions for high-net-worth individuals and international families.
For more information, please visit the newly launched website at:
https://www.alpinalegacy.com/ (formerly https://www.pfisgroup.com/).
FINANCIAL HIGHLIGHTS
OPERATIONAL HIGHLIGHTS
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HONG KONG SAR – Media OutReach Newswire – 19 March 2026 – Li Ning Company Limited (the “Company” or “Li Ning Company”; together with the subsidiaries, the “Group”; stock codes: 2331 (HKD counter) and 82331 (RMB counter)) today announced its audited annual results for the year ended 31 December 2025 (the “Year”).
Financial Results
In 2025, the Group continued to enhance the technological features of its products, optimising channel efficiency, and strengthening the brand’s professional positioning, delivering stable operating performance. During the year, the Group’s revenue amounted to RMB29,598 million, representing an increase of 3.2% compared with 2024 (2024: RMB28,676 million). Gross profit amounted to RMB14,489 million, up 2.4% from 2024 (2024: RMB14,156 million). The overall gross profit margin decreased by 0.4 percentage points to 49.0% (2024: 49.4%).
During the year, the net profit attributable to equity holders was RMB2,936 million (2024: RMB3,013 million). The margin of net profit attributable to equity holders was 9.9% (2024: 10.5%). Return on equity attributable to equity holders was 10.9% (2024: 11.9%). Basic earnings per share was RMB113.91 cents (2024: RMB116.98 cents). The Board has recommended the payment of a final dividend of RMB23.36 cents per ordinary share for the year ended 31 December 2025. Together with the interim dividend of RMB33.59 cents per ordinary share paid in September 2025, the total dividend for the year ended 31 December 2025 will amount to RMB56.95 cents per ordinary share or a total dividend payout ratio of 50% (2024: 50%).
In cash flow management, the Group’s net cash generated from operating activities during the year amounted to RMB4,852 million (2024: RMB5,268 million). As at 31 December 2025, cash and cash equivalents (including cash at banks and on hand, and fixed-term deposits with an original maturity of no more than three months) amounted to RMB16,717 million, an increase of RMB9,218 million compared with 31 December 2024. Adding back the amount recorded as fixed-term deposits held at banks, cash balance at 31 December 2025 amounted to RMB19,973 million, representing a net increase of RMB1,833 million compared with 31 December 2024. During the year, revenue increased year-on-year, while cash-based expenses including marketing costs and tax payments rose, coupled with the settlement time lag of e-commerce platforms, leading to a year-on-year decrease in net cash generated from operating activities. Meanwhile, the maturity and redemption of time deposits led to a significant increase in net cash generated from investing activities. The Group will continue to place extra emphasis on cash flow management to ensure the stable development of the Company in the long term.
Operational Summary
In 2025, the Group remained anchored in its “Single Brand, Multi-categories, Diversified Channels” strategy, advancing development through product upgrades, channel optimisation, and brand marketing.
The Group focused on six core categories—running, basketball, training, badminton, table tennis and sports casual—while actively pursuing opportunities in emerging fields and exploring new sports subcategories, such as outdoor, tennis and pickleball. During the year, the Group continued to upgrade its products through technological innovation and enhance the deployment of professional sports resources, guided by three key pillars: reinforcing a professional sports mindset, showcasing sports-fashion aesthetics, and honouring Chinese cultural heritage. In addition, it worked proactively to strengthen brand influence and increase brand recognition and visibility through diversified, and comprehensive marketing campaigns.
As the official partner of the Chinese Olympic Committee, the Group leveraged its deep expertise and strong professional sports credibility to blend sportsmanship with cutting-edge technology and Eastern aesthetics—all under the narrative theme “China’s Glory, Together with LI-NING.” During the year, it opened the world’s first LI-NING “Loong Store” and launched the “Glory Gold Label” product series, transforming exclusive, top-tier scarce sports resources into a driving force for brand reputation and market recognition, continuously strengthening consumers’ perception of LI-NING’s professional capabilities and product reliability.
In terms of channel development, the Group continued to advance a multi-dimensional channel network layout to expand market coverage while enhancing operational efficiency. In high-end markets, the Group deepened synergistic collaborations with top-tier commercial complexes and leading outlet malls, jointly promoting the planning and implementation of innovative stores. During the year, the Group successfully launched an independent outdoor store “COUNTERFLOW”, marking an important milestone for the brand’s official entry into the outdoor segment. The Group actively carried out cross-industry collaborations, partnering with top IPs embodying Chinese cultural heritage such as the Palace Museum, and launched marketing campaigns by collaborating with channel partners through diverse initiatives, effectively improving brand reach and conversion. In terms of efficiency enhancement, the Group continued to optimize the channel structure and improved rental structures and cooperation models, enhancing overall channel health and operational sustainability through a series of strategic optimization measures. As of 31 December 2025, the LI-NING brand (including LI-NING Core Brand and LI-NING YOUNG) operated a total of 7,609 conventional stores, flagship stores, China LI-NING stores, factory outlets, and multi-brand stores, representing a net increase of 24 POS compared with 31 December 2024.
In terms of retail operations, the Group built a highly profitable, efficient, and replicable single-store operating model. In high-level markets, targeted brand strategies were implemented across key regions, strengthening brand image and improving product operation efficiency through optimised channel structure, store product mix, and shopping experience. The Group established a distribution management model to improve operational efficiency and sustainable development capabilities of the distribution system. In addition, the Group strengthened the efficient coordination between retail outlets and the logistics system. Through refined planning systems, flexible supply chain construction and digital support, channel inventory turnover and full lifecycle product management were realised, thereby comprehensively improving operational quality and efficiency.
In terms of e-commerce operations, the Group made precise deployments that effectively enhanced consumer awareness and market share during major e-commerce campaigns such as Tmall Celebration Day and Tmall Super Product Day. During the year, core IP products such as “Zhui Feng”, “DLO”, “ULTRALIGHT” and “LI REN” delivered outstanding performance, successfully penetrating multiple consumer segments including Gen Z, professional sports and trendy fashion, ranking highly in both sales and reputation across segmented markets. By leveraging top athletes, celebrities, trending events and channel resources, the Group not only enhanced product exposure and achieved traffic acquisition and promotional sales conversion, helping inventory optimisation, but also supported offline business and drove overall revenue growth.
In terms of supply chain, the Group continuously optimised the supplier matrix, aligning high-quality supplier resources for high-end sports, outdoor, premium and sponsored product lines. Meanwhile, the Group aligned with its major product plan by adopting segmented production planning and data-driven management to achieve high-level coordination among product planning, supply chain, logistics, and retail outlets. To improve operational efficiency, the Group adopted multiple measures such as integration of fabric resources, optimization of process structures, large-scale procurement of materials and staggered production scheduling, further improving the cost structure, while enhancing production efficiency. In addition, the Group continued to integrate sustainable development into supply chain management and promoted green products, with the proportion of eco-friendly products exceeding annual targets during the year.
In terms of logistics, the Group launched a channel logistics project to connect the order system with logistics operations, improving product circulation efficiency and fulfilment timeliness. On the digital front, the Group introduced a warehouse coordination system and adopted SKU-level refined management. In terms of automation, automated equipment was introduced into various warehouses, enabling multi-scenario coverage and data visualization management. In December 2025, the East China and North China warehouses took the lead in adopting RFID full-process warehouse management, achieving full-process traceability of logistics data, greatly strengthening inventory management precision, and deployment across all warehouses is expected to be completed in the first quarter of 2026 to continuously drive cost reduction and efficiency improvement.
In terms of its kidswear business, LI-NING YOUNG continued to focus on professional sports and children’s developmental needs, advancing product optimization and exclusive IP creation. In terms of channel strategy, the Group continued to strengthen outlet channel development, improve single-store efficiency and optimize overall channel structure while accelerating its e-commerce deployment. LI-NING YOUNG maintained a coordinated development of wholesale and direct retail. Through refined management and strategic layout, both scale and quality were improved. In terms of marketing, LI-NING YOUNG centred its efforts around three core pillars “Event Cooperation + User Stories + IP Collaboration” to build professional recognition and accumulate its user foundation, successfully expanding its influence among youth and family demographics. As at 31 December 2025, the total number of LI-NING YOUNG POS was 1,518, representing a net increase of 50 POS since 31 December 2024.
Outlook
Entering 2026, the Group will seize the development opportunities arising from the continuous release of domestic demand potential. The Group will remain committed to its core value of “serving the public with sportsmanship,” meticulously refine its “LI-NING’s experience value,” and strive to become the preferred professional sports brand.
1. Technology-driven product upgrades: The Group will firmly implement the development strategy of “Single Brand, Multi-categories, Diversified Channels”, empowering product iterative upgrades with technology to build core competitiveness and market differentiation barriers. Relying on the technical accumulation and R&D of the LI-NING technology innovation platform, the Group will focus on deep cultivation of core categories and actively expand into emerging segments such as outdoor sports. The Group aims to respond to increasingly diversified and personalised consumer demands, achieving full-scenario coverage from professional competitive sports to daily wear. By promoting the ingenious integration of cutting-edge technology and fashion design, the Group will create a product system that combines excellent functionality, technological texture, and aesthetic value. Furthermore, the Group will continuously strengthen the efficiency of transforming scientific and technological achievements, promoting the rapid realization of frontier technologies into product competitiveness.
2. Olympic marketing empowering the brand: The Group will drive value creation through sports marketing, establish emotional connections with consumers, and facilitate the steady enhancement of brand value. By continuously deepening the cooperation with the Chinese Olympic Committee, the Group will seize the development window of the Olympic cycle and promote the brand to achieve a leap from resource cooperation to value co-creation. LI-NING will fully explore the diversified value of the cooperation with the Chinese Olympic Committee. Through systematic marketing layout and technological equipment support, it will convey the story of the mutual growth of LI-NING and Chinese sports, highlighting the technological strength and cultural confidence of the national brand.
3. Dual improvement in quality and efficiency of business operations: The Group will continue to focus on improving quality and efficiency across all aspects of its business. By deepening channel layout, strengthening product operations, and optimising supply chain management, the Group aims to build an efficient operational system, achieve simultaneous improvements in operational quality and efficiency, and lay a solid foundation for the high-quality growth of the enterprise. Offline channels will focus on improving efficiency in high-tier markets and penetrating emerging markets, while exploring new business models. Online channels will strengthen domain synergy and resource integration, promoting complementarity between online and offline channels. In terms of product operations, the Group will optimize the precision of full-chain planning and flexible supply capabilities, and accelerate inventory turnover. The supply chain will achieve coordinated optimization of cost, quality, and delivery time across the entire chain, thereby enhancing overall operational efficiency.
4. Consolidating the foundation to safeguard development: The Group will continuously strengthen three core support capabilities: talent, finance, and digital intelligence, to lay a solid bedrock for high-quality development. In terms of talent strategy, talent development will focus on selection, incentives, and efficiency. In terms of financial management, emphasis will be placed on precise resource allocation and risk control. In terms of digitalization, the Group will promote the deep integration of AI and big data with business operations, enhance operational efficiency and the scientific nature of decision-making, and provide systematic safeguards for the long-term development of the Group.
Mr. Li Ning, Executive Chairman and Joint CEO of the Group, concluded: “2026 marks the first year of the 15th Five-Year Plan. With the strategic goal of accelerating the development of a sports powerhouse, the nation will further unlock sports consumption potential while driving the transformation and upgrading of the sporting goods manufacturing industry. We expect this to release domestic demand potential and create both strong support and a vast stage for the sports industry to thrive.”
“We will remain rooted in the local market while looking ahead, seizing opportunities of the era with greater foresight and more efficient execution. We will continue to deepen the Group’s ‘Single Brand, Multi-categories, Diversified Channels’ strategy, optimising and upgrading our core category matrix while exploring emerging segments. Most importantly, we will keep strengthening the core advantages of our products—professional performance, technological capability, and sports experience—by empowering them with innovative technology and design aesthetics to reward consumer trust.”
Hashtag: #LiNing
The issuer is solely responsible for the content of this announcement.
Li Ning Company Limited is one of the leading sports brand companies in China, mainly operating professional and leisure footwear, apparel, equipment and accessories under the LI-NING brand. The Group has comprehensive research and development, design, manufacturing, marketing, distribution and retail management capabilities. It has established an extensive retail distribution network and supply chain management system in China. We are committed to be the most prominent, stylish, world-leading sports brand from China.
In addition to its core LI-NING brand, the Group also manufactures, develops, markets, distributes, sells various sports products which are self-owned by or licensed to the Group, including Double Happiness (table tennis), AIGLE (outdoor sports) and Kason (badminton), which are operated through joint venture/associate with third parties of the Group.
HONG KONG SAR – Media OutReach Newswire – 19 March 2026 – In 2026, KCM Trade proudly celebrates its 10th anniversary — a significant milestone made possible by the continued trust and support of its valued clients. To mark this special occasion, the company has announced its sponsorship of a premium sailing event in Sydney.
In partnership with the renowned yacht charter company Sydney by Sail, the event is themed “2026 KCM Trade Sailing Sydney | A Decade of Progress, A New Chapter Ahead.” Designed as an exclusive celebration at sea, the private sailing gathering will bring together distinguished clients for an unforgettable experience that seamlessly blends festivity with meaningful connection.
Premium Yachts and an Elegant Atmosphere
To honour the occasion, KCM Trade has carefully selected high-specification sailing yachts renowned for their exceptional performance and superior comfort. Thoughtfully designed to balance elegance with practicality, each vessel is fully equipped with premium leisure amenities and comprehensive onboard facilities.
Set against the crystal-clear waters and expansive blue skies of Sydney, guests will enjoy the gentle sea breeze and the sight of graceful sails while engaging in relaxed conversation. The refined yet natural setting creates the ideal environment to strengthen relationships and foster deeper connections.
A Decade of Dedication and Industry Recognition
Since its establishment, KCM Trade has remained committed to professionalism, with innovation at the heart of its development. Over the past ten years, the company has steadily expanded its presence across the global financial markets, earning widespread recognition for its quality products and services, cutting-edge technological infrastructure, and comprehensive client protection.
Throughout this journey, KCM Trade has launched proprietary intelligent trading tools and actively supported a range of financial education initiatives, strengthening its brand influence while fulfilling its corporate social responsibilities.
Advancing Together Towards the Future
This sailing event not only reflects the achievements of KCM Trade’s first decade but also serves as an important opportunity to deepen client relationships and look ahead to the future together.
Moving forward, KCM Trade will continue to uphold its win–win philosophy, delivering enhanced services, forward-thinking innovation, and unwavering commitment. Together with its clients, the company will confidently navigate the evolving industry landscape and craft the next chapter of shared success.
Hashtag: #KCMTrade #kcmtrade10yrs #Globalbrokers #Sponsor #Sailing
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The issuer is solely responsible for the content of this announcement.
HONG KONG SAR – Media OutReach Newswire – 18 March 2026 – Art Central, in collaboration with the Hong Kong Tourism Board, is launching a digital Hong Kong Art Month Discovery Guide alongside a series of travel and experience packages for the Fair’s eleventh edition. These offerings bring visitors from the Greater Bay Area and overseas a seamless art travel experience, allowing them to enjoy Hong Kong’s diverse hotels, dining, attractions, and transport networks alongside their visit to the Fair.
As a cornerstone event of Hong Kong Art Month, Art Central returns to the iconic Central Harbourfront from 25 to 29 March 2026. The Fair brings together contemporary art, curated programmes, and a vibrant community of galleries, artists, collectors, overseas visitors, and local audiences to build a dynamic platform for artistic exchange. Art Central 2026 is financially supported by the Mega Arts and Cultural Events Fund under the Culture, Sports and Tourism Bureau of the Hong Kong Special Administrative Region Government.
Entering its second decade, Art Central 2026 will assemble 117 galleries and 500 artists from Hong Kong, Asia, and around the world, further reinforcing its position as an integral platform for discovery and exchange among collectors and curators. Co-curated by Enoch Cheng and Zoie Yung, the Fair’s eleventh edition will present a series of artistic programmes—including performances, video art, large-scale installations, and talks—examining the frictions and intimacies that shape contemporary social and virtual life, foregrounding emergent Asian voices.
To enrich the artistic journey for visitors, Art Central, in partnership with the Hong Kong Tourism Board, proudly presents the digital Hong Kong Art Month Discovery Guide. The guide compiles exciting events across the city’s art districts, covering gallery exhibitions, special museum showcases, and performing arts programmes across Central, Sheung Wan, Wan Chai, Tai Hang, the Southern District, Tsim Sha Tsui, and the West Kowloon Cultural District. Beyond visual arts, the guide offers detailed dining recommendations in the vicinity, perfectly illustrating Hong Kong’s diverse culinary culture. The curated selections range from local street food and refined Cantonese cuisine to Michelin-starred contemporary European dining. Featured establishments include MIAN, Amber, Belon, L’Atelier de Joël Robuchon, Chinesology, Gu Liang Cai, and the historic Luk Yu Tea House. Through this comprehensive guide, visitors can easily navigate the city’s streets and alleys alongside their visit to Art Central, seamlessly transitioning from visual arts to culinary delights while deeply experiencing Hong Kong’s unique charm as Asia’s events capital. Explore more in the Hong Kong Art Month Discovery Guide.
To allow visitors to incorporate the Fair into their broader Hong Kong itineraries with ease, Art Central has introduced a brand-new Flexible Date Ticket, available in limited quantities exclusively during the advance sale period. Holders of the Flexible Date Ticket may select any single day between 25 and 29 March 2026 for entry during general admission hours without the need for advance date selection.
Art Central has also launched comprehensive packages on various travel platforms covering accommodation, attractions, and transportation for the convenience of visitors. For example, through Ctrip, visitors can book curated packages combining Fair admission with selected offers and enjoy a HK$50 no-minimum-spend Uber Taxi promo code with the purchase of any ticket, easily charting a cultural journey connecting art and city life.
Ctrip’s accommodation bundles span top-tier five-star luxury properties such as Four Seasons Hotel Hong Kong, Mandarin Oriental Hong Kong, and The Murray, Hong Kong, as well as boutique options including The Pottinger Hong Kong, offering convenient and elevated choices for cultural getaways and weekend itineraries.
Additionally, attraction bundles will extend the Fair experience to multiple transportation options and popular leisure destinations, including the Peak Tram, the Hong Kong Observation Wheel, the Star Ferry, and the Airport Express. This allows visitors to integrate transportation, accommodation, and urban cultural experiences, extending their exhibition visit into a city journey exploring Hong Kong’s art and lifestyle.
Furthermore, Art Central has launched combo packages on Klook, pairing the Flexible Date Ticket with admission to the Hong Kong Observation Wheel at the Central Harbourfront (HK$302) or a Cupping Room coffee e-voucher (HK$314). These allow visitors to take in the spectacular views of Victoria Harbour or take a relaxing coffee break following their visit to the Fair. After viewing the exhibition, visitors can also take the “WestK Ferry” from Central Pier 9—a short eight-minute ferry ride—to effortlessly reach the West Kowloon Cultural District and continue their exploration at M+, the Hong Kong Palace Museum, and the WestK FunFest.
Package offers are exclusively available for purchase via Ctrip and Klook. For more details regarding participating hotels, dining, attractions, and transport partners, please visit artcentralhongkong.com/tickets. Ticket Packages might be subject to change without prior notice and are available in limited quantities while stocks last.
Art Central 2026 Package Offers
| Category | Package | Price | Booking Channel | Remarks |
| Fair Ticket | Art Central Advance Ticket +
Uber Taxi HK$50 Promo Code |
Adult: HK$180 Child: HK$55 |
Ctrip | |
| Experience | Art Central Advance Ticket
+ Peak Tram Return Ticket + Sky Terrace 428 + Uber Taxi HK$50 Promo Code |
Adult: HK$305 Child: HK$305 |
Ctrip | |
| Experience | Art Central Advance Ticket +
Hong Kong Observation Wheel Ticket + Uber Taxi HK$50 Promo Code |
Adult: HK$164 Child: HK$54 |
Ctrip | |
| Experience | Art Central Advance Ticket + Star Ferry World Star / Shining Star Water Tour Ticket + Uber Taxi HK$50 Promo Code | Adult: HK$351 Child: HK$188 |
Ctrip | |
| Transport | Art Central Advance Ticket +
Airport Express Ticket to/from Central (Hong Kong Station) + Uber Taxi HK$50 Promo Code |
Child: HK$89 | Ctrip | |
| F&B | Art Central Advance Flexible Date Ticket +
Cupping Room HK$50 Coffee E-Voucher |
HK$314 | Klook | |
| Experience | Art Central Advance Flexible Date Ticket +
Hong Kong Observation Wheel Ticket |
HK$302 | Klook | |
| Hotel | Art Central Advance Ticket + Hotel Bundle | RMB ¥581+ | Ctrip | Options include: Four Seasons Hotel Hong Kong / The Upper House / Mandarin Oriental Hong Kong / Island Shangri-La, Hong Kong / The Murray, Hong Kong, a Niccolo Hotel / JW Marriott Hotel Hong Kong / The Pottinger Hong Kong / Two MacDonnell Road, Hong Kong / Lan Kwai Fong Hotel @ Kau U Fong / Bishop Lei International House |
Opening Dates and Hours
Tuesday 24 March
VIP Preview (by invitation)
Wednesday 25 March
Fair Hours 12 pm – 5 pm
Night Central 5 pm – 9 pm
Thursday 26 March
Fair Hours 12 pm – 7 pm
Friday 27 March
Fair Hours 12pm – 7 pm
Saturday 28 March
Fair Hours 11 am – 7 pm
Sunday 29 March
Fair Hours 11 am – 5 pm
Venue
Central Harbourfront Hong Kong, 9 Lung Wo Road
Hashtag: #ArtCentralHK #ArtCentralUOB #HongKongArtWeek
https://artcentralhongkong.com/https://www.facebook.com/artcentralhk
Wechat: https://artcentralhongkong.com/wechat/https://www.instagram.com/artcentralhk/
The issuer is solely responsible for the content of this announcement.
Art Central, a cornerstone event of Hong Kong Art Week, presents the next generation of talent from Asia’s most forward-thinking galleries alongside celebrated artists from across the globe. Since its inaugural edition in 2015, Art Central has established itself as a leading platform for innovation in contemporary art, advancing the profiles of artists and galleries and reinforcing their presence within the international art landscape. Today, the Fair is recognised for the strength of its curatorial programming and as a vital meeting point for discovery and exchange among collectors and curators representing private, corporate, and institutional collections worldwide.
Fair Director
Corey Andrew Barr joined Art Central as Fair Director in 2019. A champion of Hong Kong artists, Barr has expanded the Fair’s platform to highlight local talent and underscore its position as a benchmark for aspiring galleries from around the world. He was formerly the director of a prominent Hong Kong- and London-based gallery focusing on contemporary Asian art, and prior to that, served as Specialist and Head of Sales for Phillips in New York, where he also organised exhibitions of contemporary art, photography, and design by leading international artists.
Curator
Enoch Cheng is an artist-curator whose work spans curation, moving image, installation, performance, dance, and fashion. His cross-disciplinary multimedia practice reinterprets norms, stories, and myths through contemporary lenses, drawing on a range of creative practices and engaging audiences through diverse cultural traditions. Cheng was awarded the Asian Cultural Council Fellowship (2020) and held artist residencies at the Museum of Arts and Design, New York (2022), and the American Museum of Natural History, New York (2020). He was most recently named Artist of the Year (Visual Arts) at the 2025 Hong Kong Arts Development Awards, recognising his contributions to the arts, including his role at Art Central since 2024.
Curator
Zoie Yung, currently based in Hong Kong, is an independent exhibition consultant and curator, and former exhibition manager of chi K11 art museum in Shanghai. She provides a unique approach to exhibition production by combining practice in exhibition spatial arrangement and her knowledge of Chinese Xuanxue as well as Western astrology. Selected recent exhibitions include Wonder-verse (chi K11 art space, Hong Kong, 2022) and Curve of Buoyancy (Duddell’s, Hong Kong, 2021). She also actively organises public education campaigns; she has collaborated with local organisations, including Tai Kwun Contemporary, Para Site, 1a Space, and Hong Kong Visual Arts Centre.
About UOB
UOB is a leading bank in Asia. Operating through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, UOB has a global network of more than 470 branches and offices in 19 markets in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. Today, UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings.
For nine decades, UOB has adopted a customer-centric approach to create long-term value by staying relevant through its enterprising spirit and doing right by its customers. UOB is focused on building the future of ASEAN – for the people and businesses within, and connecting with, ASEAN.
The Bank connects businesses to opportunities in the region with its unparalleled regional footprint and leverages data and insights to innovate and create personalised banking experiences and solutions catering to each customer’s unique needs and evolving preferences. UOB is also committed to helping businesses forge a sustainable future, by fostering social inclusiveness, creating positive environmental impact and pursuing economic progress. UOB believes in being a responsible financial services provider and is steadfast in its support of art, social development of children and education, doing right by its communities and stakeholders.
About Mega Arts and Cultural Events (ACE) Fund
The Culture, Sports and Tourism Bureau of the Hong Kong Special Administrative Region Government sets up the Mega ACE Fund to attract and support international or large-scale arts and cultural events which bring significant arts, cultural or economic values and can be recurrent and anchored in Hong Kong, or events which can bring exceptionally significant arts or cultural merit, as well as publicity and image building values to Hong Kong as an arts and cultural hub with a view to contributing to Hong Kong’s development into an arts and cultural metropolis as well as a tourist destination, providing development opportunities for the arts, cultural and creative sectors, and facilitating arts and cultural exchange.
HONG KONG SAR – Media OutReach Newswire – 18 March 2026 – The world’s largest telecommunications infrastructure service provider China Tower Corporation Limited (“China Tower”, or the “Company”) (Stock Code: 0788.HK) is pleased to announce its annual results for the year ended 31 December 2025.
Performance Highlights
| RMB Million | 2025 | 2024 | Change |
| Operating revenue | 100,411 | 97,772 | 2.7% |
| EBITDA[1] | 65,814 | 665.59 | -1.1% |
| Profit attributable to owners of the Company | 11,630 | 107.29 | 8.4% |
| Basic earnings per share (RMB yuan) (Re-presented) | 0.6653 | 0.6138 | 8.4% |
| Dividend per share (RMB yuan) | 0.45789 | 0.41696 | 9.8% |
| Key operating data | |||
| Number of tower sites (thousand) | 2,149 | 2,094 | 2.6% |
| Number of tower tenants (thousand) | 3,856 | 3,791 | 1.7% |
| Tenancy ratio (tenants / tower site) | 1.79 | 1.81 | -1.1% |
In 2025, the Company’s operating revenue maintained stable growth and profitability remained strong. Operating revenue for the year reached RMB100,411 million, an increase of 2.7% year-on-year. EBITDA reached RMB65,814 million, a decrease of 1.1% year-on-year, with an EBITDA margin[2] of 65.5%. Profit attributable to the owners of the Company reached RMB11,630 million, an increase of 8.4% year-on-year, with a net profit margin of 11.6%.
As at 31 December 2025, our total assets amounted to RMB336,579 million, with interest-bearing liabilities of RMB90,460 million and a gearing ratio[4] of 27.7%, representing a decrease of 3.3 percentage points from the end of 2024. Our financial position remains healthy and stable.
The Company has always attached great importance to shareholder returns. After considering our profitability, cash flow and future development needs, the board of directors of the Company has recommended a final dividend of RMB0.32539 per share (pre-tax) for the year ended 31 December 2025. Together with the interim dividend distributed, the total full-year dividend amounted to RMB0.45789 per share (pre-tax), equivalent to a payout ratio of 77% of our annual distributable net profit.
Refined operations enabled steady progress in TSP business
The Company continued to play a leading role in new 5G infrastructure construction, further deployed the Dual-Gigabit network joint-entry implementation, and made solid progress in supporting special projects such as upgrading signal strength, extending broadband coverage to all border areas, forests and grasslands. Capturing the strategic opportunities arising from the wide-area 5G network coverage expansion and enhancement of in-depth coverage, we focused on enhancing intensive sharing of network resources and fully satisfying customers’ demands for network construction. As a result, our TSP business maintained stable growth in 2025, recording revenue of RMB84,725 million, an increase of 0.7% year-on-year.
Tower business. The Company seized opportunities arising from customers’ ongoing network expansion requirements and leveraged our competitiveness as a service provider by offering efficient delivery, superior maintenance and optimal cost structure, while minimizing management risks. We deepened the embedded service mechanism, precisely captured customers’ network planning needs, and comprehensively secured construction demands in key scenarios and key regions. Leveraging our site resources and base station data, we proactively conducted coverage analysis to enhance network optimization capabilities. We also enhanced our collaborations with TSPs to provide customers with better services. By adhering to a customer-oriented philosophy, we continued to optimize end-to-end business processes and management standards to enhance service capabilities across the board. In 2025, revenue from our Tower business amounted to RMB75,498 million, a decrease of 0.3% year-on-year. As at the end of 2025, the Company managed a total of 2.149 million tower sites, an increase of 55,000 from the end of 2024. We have gained 23,000 new TSP tenants since the end of 2024, bringing the total number of TSP tenants to 3.567 million at the end of 2025. Our TSP tenancy ratio was 1.70.
DAS business. We continued to focus on high-value and livelihood-critical scenarios, systematically enhancing resource coordination and sharing, and collaborative construction capabilities, as well as accelerating 5G network upgrades on high-speed railways. At the same time, we deployed shared repeaters at scale in everyday scenarios such as elevators, underground parking lots, tunnels, and residential communities, helping TSPs achieve efficient and low-cost network coverage extension. We continued to optimize the integrated active and passive DAS sharing solutions and promoted the implementation of innovative solutions such as shared frequency shifting in existing DAS 5G upgrades. By doing so, we enhanced product and service competitiveness to efficiently meet customer needs. In 2025, our DAS business achieved relatively high growth, with revenue reaching RMB9,227 million, an increase of 9.5% year-on-year. By the end of 2025, we had covered buildings with a cumulative area of 15.15 billion square meters, up by 19.5% year-on-year, while the coverage in railway tunnels and subways reached a cumulative length of 33,661 kilometers, an increase of 14.8% year-on-year.
Vertical advancement supported strong growth in Two Wings business
In the Two Wings business, we seized market opportunities while continuing to strengthen product competitiveness and drive rapid growth of the business. In 2025, revenue of the Two Wings business reached RMB14,985 million and accounted for 14.9% of our overall operating revenue, an increase of 1.2 percentage points over the same period last year.
Smart Tower business. Focusing on spatial digital intelligence governance and leveraging ourrich resources and capabilities, we continued to enhance our Smart Tower business, achievingrevenue in excess of RMB10 billion. We continued to deepen our presence in key industries andscenarios, steadily increasing market share in key areas such as straw burning prohibition, farmlandprotection, and disaster alert. We advanced our nationwide distributed platform, optimizingalgorithm service capabilities for mid-to-high point scenarios, with further improvements inplatform response speed, algorithm accuracy, and application availability. We maintained our focuson implementing the “AI+” special project, promoting the application of large models for spatialdigital intelligence governance, which were included in the first batch of strategic high-value AIscenarios for central state-owned enterprises. Customers are always at the center of everything wedo. Therefore, we strengthened the development of product iterations, construction delivery,and operation and maintenance support, as well as expanding our integrated technical support teams,with an aim to respond actively and promptly to customers’ needs. In 2025, our Smart Tower business generated revenue of RMB10,172 million, up by 14.2% year-on-year, among which, revenue from our Tower Monitoring business reached RMB6,327 million, accounting for 62.2% of the Smart Tower business revenue.
Energy business. We focused on key business segments such as battery exchange and powerbackup. By improving refined operations and strengthening core capabilities and competitiveadvantages in products, services, and platforms, we continued to develop our specialty in theEnergy business. For the battery exchange business, we continued to expand our share in the fooddelivery mass market while accelerating the expansion of our corporate customer base, resulting instable user growth. As at 31 December 2025, we had approximately 1.477 million battery exchangeusers, an increase of 173,000 since the end of 2024, further solidifying our leading position inthe low-speed electric vehicle battery exchange market. We accelerated the construction of acommunity-based low-speed electric vehicle charging facility network while optimizing operationalefficiency, resulting in expanded service coverage and user scale. For the power backup business,we continued to focus on pivotal industries and our premium customer base, creating the ChinaTower “energy butler” integrated industry solutions and enhancing the value of our “energy butler”brand. In 2025, our Energy business achieved revenue of RMB4,813 million, a year-on-year increase of 7.5%, of which the battery exchange business accounted for RMB3,029 million, an increase of21.2% year-on-year, and with its contribution to the Energy business reaching 62.9%.
Innovation strategy resulted in remarkable technology empowerment
We made concrete progress in developing the “four lists” working mechanism of competencies and capabilities, task and project planning, resource allocation, and the commercialization of research outcomes. Focusing on the “One Core and Two Wings” businesses, we continued to intensify our efforts to address the challenges in key and core technologies, and accelerated the transformation of technological achievements to inject new momentum into high-quality business development. In 2025, our R&D investment and the number of R&D personnel increased by 82% and 22% respectively, compared to 2024. The number of patent applications and the cumulative number of patent authorizations increased by 77% and 54%, respectively, compared to the year before. We participated in the formulation of multiple international standards. A range of innovative products were commercialized and deployed at scale such as shared micro repeaters, monitoring platforms, and “one code for all”. Our technological innovation system continued to strengthen, as shown in the high-quality construction and development of six regional technological innovation centers, the expansion and quality improvement of joint innovation platforms, and the steady enhancement of innovation efficiency and performance.
Mr. Zhang Zhiyong, Chairman of China Tower said, “In 2025, we remained focused on high-quality development, promoting stability through progress while improving quality and efficiency. As a result, throughout the year our business maintained healthy, steady growth and demonstrated a positive outlook. Looking ahead, we will continue to uphold the philosophy of resource sharing and adhere to the “One Core and Two Wings” strategy to further enhance our core competitiveness, promote high-quality development, and create value for shareholders, customers, and society.”
Hashtag: #ChinaTower
The issuer is solely responsible for the content of this announcement.
China Tower is the world’s largest telecommunications tower infrastructure service provider, and the Company always adheres to the philosophy of shared development and implements the “One Core and Two Wings” strategy. The Company is principally engaged in the construction, maintenance and operation of base station ancillary facilities such as telecommunications towers, public network coverage in railway tunnels and subways, and large-scale indoor Distributed Antenna Systems (DAS). Meanwhile, relying on unique resources to provide energy application services such as information application and intelligent battery exchange and power backup to the society, the Company strives to build itself into a world-class integrated digital infrastructure service provider, and a highly competitive information and new energy applications provider. As of the end of 2025, the Company’s total assets amounted to RMB336,579 million. China Tower operated and managed 2.119 million tower sites across 31 provinces, municipalities and autonomous regions in the PRC, and served over 3.856 million tenants with the tenancy ratio of 1.79.
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