Unlocking Diverse Test-Drive Experiences: GWM Stirs up the Shanghai Auto Show with Full-Scenario Test Drives
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Malay Mail
a day ago
- Malay Mail
GWM Hosts World's First Factory Marathon, Showcasing China's Automotive Innovation to the World
BAODING, CHINA - Media OutReach Newswire - 12 August 2025 - Great Wall Motor (GWM) has combined sport, technology, and industrial pride in a landmark event—the 2025 GWM Smart Factory Half Marathon—held inside its Xushui Smart Factory in Baoding, Hebei Province. Over 10,000 runners raced through stamping, welding, and assembly workshops, surrounded by a living showcase of China's cutting-edge automotive the rhythmic movements of robotic arms to the precision of autonomous transport vehicles, participants witnessed first-hand how GWM's fully automated production lines integrate intelligence and efficiency into every step of the manufacturing process. One runner, a GWM employee, recalled: "I was running alone when a robotic arm flashed 'You can do it!' on its screen. It was a small gesture, but it gave me real motivation."Today, GWM's smart production systems seamlessly integrate automation into every step of the manufacturing process. Robotic arms now handle everything from body welding and materials handling to adhesive application and part transfers with speed and precision. Backed by continuous independent innovation, GWM has achieved in-house R&D and production of key components including engines, transmissions, and power employs a formidable engineering workforce of 23,000 professionals, meaning one in every four employees is an the company's Environmental Wind Tunnel Laboratory, new vehicle prototypes are put through rigorous simulations: searing sunlight, extreme heat, heavy rainfall, and hurricane-force winds. Inside the sealed chamber, these vehicles rotate through intense climate scenarios. Outside, technicians closely monitor real-time data on massive digital dashboards—precision and performance."Our Environmental Wind Tunnel is one of the most advanced in the industry, comprising 35 subsystems, including high-powered air blowers, chassis dynamometers, temperature and humidity controls, solar simulation, and centralized control systems," said Li Can, Head of Environmental Simulation Testing Department of GWM Technical Center. "It can recreate temperatures from -40°C to +60°C, with wind speeds up to 250km/h—enabling us to simulate extreme climate conditions from around the world and ensure our vehicles meet global standards from day one."This facility is just one piece of GWM's expansive innovation ecosystem demonstrating our commitment to technology. The company has invested nearly RMB 10 billion to establish a world-class testing complex, with more than 2,000 testing capabilities across new energy, thermal management, as well as dedicated facilities for crash safety, and comprehensive proving ground."Electrification and artificial intelligence have opened a new frontier for the automotive industry," said Jack Wey, Chairman of GWM. We are leaning in—with a full-stack approach to intelligent vehicle technology, including our proprietary end-to-end intelligent driving models, next-generation AI data intelligence architecture, and the in-house Jiuzhou Supercomputing Center. Our next-generation advanced driver assistance system, developed entirely in-house, enabled real-world driving scenarios—from dense city streets to open highways, from rural roads to precision parking. We believe technology is not just a tool—it is the engine that drives our future," Jack Wey added. "That's why we are unwavering in our commitment to R&D and innovation."In the 1990s, GWM was still a small manufacturer focused on pickup trucks, relying heavily on external suppliers for core components like engines and transmissions. To change that, the company established its own engine and component subsidiaries, gradually integrating its supply chain to enhance in-house R&D and manufacturing such success also brought new challenges. These newly formed component subsidiaries depended almost entirely on internal orders from GWM, leaving them with little incentive for innovation. As a result, their costs exceeded those of third-party suppliers, and product competitiveness lagged 2018, GWM made a bold move—all of its component subsidiaries were spun off as fully independent companies. Initially, this came at a cost. Without guaranteed orders from GWM, many struggled to survive. "That was one of the toughest periods we've been through," recalled Zhang Dehui, Chairman of Nobo Automotive Systems. "We had to compete head-to-head with international suppliers for GWM's business. It forced us to raise our quality standards and invest in core capabilities. It took several years of hard work before we could secure mass production contracts again."Yet that difficult transition unlocked new opportunities. Freed from internal dependency, Nobo began supplying global OEMs, including BMW, and officially entered the international supply was among the first Chinese automakers to pursue vertical integration. Over the past 35 years, GWM has built a comprehensive and fully integrated supply chain ecosystem—one in which each part supports the others, and resources are circulated with maximum efficiency. "To build a globally competitive automotive brand, strength on the production and technology side is only part of the equation," said Jack Wey, Chairman of GWM. "We must also develop unique advantages on our channels and customer touchpoints. Our suppliers and dealers are not just partners, they're our teammates, standing shoulder to shoulder with us." "In the future," he added, "We must fully harness the power of digital technology to enable seamless collaboration across the entire ecosystem, future competition won't just be about supply chains—it will be about industrial ecosystems.""This EV offers a 200km range on a single charge, with fuel consumption as low as 7L/100km in hybrid mode. It features surround-sound audio, a built-in AI large language model, and even a 12.5L independent refrigerator that cools down to 0°C..." This May, international delegates inspected our new models including the WEY G9, GWM TANK 300 Hi4-T, and HAVAL H9, each equipped with cutting-edge technologies designed for global consumersJack Wey shared that the new plant in São Paulo, Brazil—set to begin operations mid-year—will have an annual production capacity of 50,000 new energy vehicles and create 2,000 local jobs. The plant will adopt intelligent, digitalized production systems and produce a range of powertrains including BEVs and hybrids, all equipped with advanced intelligent connectivity "Ecological Globalization" strategy has drawn increasing attention for its "ecosystem-based" approach. The company believes that internationalization is not just about shipping products overseas—it's about brand globalization and industrial capability transfer. What began as simple product exports has now evolved into a comprehensive strategy of establishing fully integrated manufacturing bases abroad. GWM's overseas operations now span the full value chain—R&D, production, supply, sales, and service—marking a true shift from product-driven globalization to full-scale "Ecological Globalization."Today, at GWM's Rayong NEV Plant in Thailand, locally produced EV – ORA03 EV is steadily rolling off production line with over 50% local facility is GWM's second full-production vehicle manufacturing base outside China—and the first overseas plant dedicated to new energy vehicles. Spanning 658,800 square meters, the plant is set to produce 80,000 units annually during the first phase. Designed to the highest global manufacturing standards, the plant incorporates advanced systems for production, quality management, environmental protection, and digital technologies. With fully upgraded intelligent equipment and technologies, the plant sets a new benchmark for intelligent, sustainable manufacturing upgrade in Southeast Zhou, Marketing General Manager of GWM Thailand, emphasized: "Every Chinese automaker's global expansion represents Chinese manufacturing excellence - we're China's calling card. Chinese NEV brands are accelerating Thailand's transition to the future of new energy mobility, bringing more NEVs to more Thai consumers."GWM's global footprint continues to grow at pace. Its international sales network now covers over 170 countries and regions, supported by more than 1,400 overseas dealerships. The company has sold more than 2 million vehicles outside China, with a global user base exceeding 15 million. In 2024 alone, GWM recorded overseas sales of 450,000 #GWM The issuer is solely responsible for the content of this announcement.
The Sun
a day ago
- The Sun
F88 officially lists 8.26 million shares on UPCoM
HANOI, VIETNAM - Media OutReach Newswire - 11 August 2025 - F88 Investment Joint Stock Company (F88) on August 8 officially listed over 8.26 million shares for trading on the UPCoM platform. With a reference price of VNĐ634,900 (US$24) per share on its first trading day, F88 now holds the highest market price among all listed companies across Vietnam's three stock exchanges, marking the beginning of a new chapter in its journey to standardise corporate governance and tap into the domestic capital market. This milestone marks the first time a pawnbroking enterprise in Viet Nam has been publicly listed and traded on the stock exchange. Beyond a significant step toward transparency, F88's listing sets a new operational benchmark for the legal pawn sector in particular and the alternative finance industry in general – a sector that has long faced negative perceptions and limited access to capital. On May 6, 2025, F88 was officially recognised by the State Securities Commission as a public company and deemed eligible to register for share trading in accordance with legal regulations. At the time of listing, F88's charter capital stood at over VNĐ82.6 billion, corresponding to more than 8.26 million outstanding shares. The company has also received approval to issue bonus shares from share premium reserves at a ratio of 1,200 per cent, which will increase its charter capital to over VNĐ1.1 trillion. This is an internal capital restructuring activity that does not dilute shareholder equity and is aimed at preparing for the company's next phase of growth, aligned with its operational scale. 'The official listing on UPCoM is not only a development milestone for F88 but also a pioneering move, introducing a new standard of transparency for Vietnam's alternative finance industry. This is a crucial step in enhancing our ability to access public capital, serving our long-term business goals. F88 clearly understands that entering the capital market is not just about transparency and regulatory oversight – it also serves as a financial catalyst to help us scale, upgrade operations, and get closer to our future target of listing on HoSE,' said Phung Anh Tuan, Chairman of the Board of Directors at F88. According to a special report published by FiinGroup in June 2025, Vietnam's pawnbroking market had an estimated outstanding loan balance of VNĐ200 trillion (approximately $8 billion) in 2024. Of this amount, 'new-generation' pawn enterprises like F88 currently hold a market share of about 3.2%, indicating substantial room for future growth. Another notable trend is that while the number of traditional pawnshops is declining, new-generation pawn outlets – which integrate technology, centralised management and diverse services – are expanding rapidly. To date, F88 operates 888 stores across 34 provinces and cities, accounting for around 70 per cent of all new-generation pawn outlets in Vietnam. The company aims to reach 1,000 transaction points by 2026 and expand to 2,000 stores by 2030. In addition to secured lending, F88 is also accelerating its growth in microinsurance and agent banking services. Through its strategic partnership with Military Commercial Joint Stock Bank (MBBank), F88 is gradually developing a model of 'modern financial transaction offices' that provide essential services such as customer identification, deposits/withdrawals, fund transfers, loan referrals, and collection/payment services. F88 is also rapidly pushing digital transformation through its MyF88 platform – a mobile application that recorded over 105,000 online loan customers just two months after launch. By 2026, the company targets to have 80 per cent of transactions conducted digitally, aiming to optimise operational efficiency and enhance customer experience. For 2025, F88 has set a revenue growth target of 33 per cent. In the first half of the year, the company recorded VNĐ1.74 trillion in revenue, up 30 per cent year-on-year. Of this amount, revenue from lending activities reached VNĐ1.5 trillion, growing 28 per cent. Insurance and other services generated VNĐ199.6 billion and VNĐ6 billion, respectively, increasing by 45 and 360 per cent thanks to broader product coverage and effective cross-selling. Total disbursement value reached VNĐ7.1 trillion, up 36 per cent over the same period, while the net write-off ratio (net charge-offs to average outstanding loans) remained at 2.35 per cent. These results brought the company VNĐ321 billion in pre-tax profit – more than triple the figure from the same period last year. Backed by a sustainable operating platform, transparent financials, and a clear digitalization strategy, F88 is steadily strengthening its governance capabilities, refining capital structure, and standardising operations to meet public company standards. The official UPCoM listing represents not only a transformation in capital structure but also reaffirms F88's pioneering role in shaping a transparent, regulated, and legally compliant alternative finance market where the public can access trustworthy and civilised financial services.
The Sun
a day ago
- The Sun
Ascott Expands Resort Portfolio with Multi-Typology Brand Strategy to Tap on Rising Leisure Travel Demand
SINGAPORE - Media OutReach Newswire – 11 August 2025 - The Ascott Limited (Ascott), the wholly owned lodging business unit of CapitaLand Investment (CLI), is scaling its global resort footprint through asset-light expansion. Riding on growing demand for experiential stays, Ascott now has around 50 properties in resort destinations in operation and under development worldwide, supported by 11 new signings in the past 10 months secured via management and franchise agreements. These represent about 5% of its global portfolio of over 1,000 properties, reflecting a strategic focus on the fast-growing leisure segment[1]. This momentum is driven by Ascott's multi-typology brand strategy, which adapts well-loved brands such as Ascott, Citadines, lyf, Oakwood, Somerset, The Crest Collection and The Unlimited Collection for resort settings. This approach enables efficient scaling in high-potential destinations while fulfilling lifestyle aspirations of its growing Ascott Star Rewards membership and delivering brand-led solutions that drive long-term value for property owners. Recent signings across Asia and the Middle East reflect Ascott's strategic expansion into key leisure hotspots. These include iconic beach destinations such as Patong Beach in Phuket and Jimbaran Beach in Bali. Ascott is also entering Marjan Island, Ras Al Khaimah's premier man-made coral island known for its pristine beaches. In Vietnam, Ascott is growing its presence in Phu Quoc, voted the world's second-best island[2], and Nha Trang, an established coastal city often dubbed the 'Riviera of the South China Sea'. The company is also capitalising on emerging opportunities in fast-growing destinations such as Cam Ranh, an up-and-coming aviation and leisure hub, and Sam Son, a rising domestic and regional tourism hotspot. Additionally, Ascott is entering Labuan Bajo, Indonesia — the gateway to Komodo National Park, a UNESCO World Heritage site. In South Korea, it is tapping demand in Gangneung, the leading east coast destination and host of the 2018 Winter Olympics. Ascott's push into resort destinations capitalises on robust industry tailwinds. Global leisure travel spend is projected to triple to US$15 trillion by 2040, fuelled by increasing demand from the burgeoning middle class in emerging markets such as China, India and Saudi Arabia, the rise of experience-led younger travellers, and surging domestic and regional tourism1. Notably, over 70% of travellers from emerging markets now combine business and leisure trips, highlighting the growing importance of bleisure travel1. Within this broader trend, the global resort segment – valued at US$300.03 billion in 2023 – is forecast to reach US$945.38 billion by 2030, growing at 18.2% CAGR, driven by rising disposable incomes, increased international travel, and preference for destination-led, experience-rich stays [3]. Ms Serena Lim, Chief Growth Officer, Ascott, said: 'As leisure travel continues to outpace global tourism growth[4], we are seeing strong momentum from property owners eager to grow with us in the resort space. Owners are drawn to our flex-hybrid model, which optimises returns and mitigates risk in dynamic leisure markets by serving both short and extended stays within a single operational framework. Complemented by our multi-typology brand strategy, we align the right brand and format to each resort setting, enabling differentiated, locally attuned guest experiences while staying responsive to evolving travel trends. Backed by a loyal and expanding member base seeking elevated leisure experiences, Ascott is well-positioned to deliver long-term value through exceptional resort stays, creating results for owners, delight for guests and impact across the markets we serve.' Ms Tan Bee Leng, Chief Commercial Officer, Ascott, said: 'Resorts represent a powerful extension of Ascott's brand promise to let guests 'Stay Your Way', unlocking a world of leisure-led experiences that elevate our Ascott Star Rewards (ASR) programme to new heights. From sun-drenched beachfront villas and serene mountain retreats to château stays and immersive wellness escapes, each resort adds lifestyle richness to the loyalty journey, deepening member engagement and incentivising cross-destination travel. At the same time, a growing base of loyal ASR members fuels demand for these differentiated resort offerings globally — accelerating our resort expansion strategy with data-backed insights and a ready community of experience-driven travellers. Ascott's flex-hybrid model and multi-typology brand approach allow us to scale trusted urban brands into resort destinations with local authenticity and operational excellence, creating a virtuous cycle that benefits guests, members and property owners alike.' Expanding Reach Across Leisure Hotspots Ascott is expanding into sought-after resort destinations with new property signings that deliver diverse, experiential stays. In Thailand, Ascott Abov Patong Phuket Resort will feature 254 rooms and comprehensive leisure facilities including all-day dining, a swimming pool, rooftop bar, pool bar, spa, gym, kids' club and event spaces. Located just 150 metres from iconic Patong Beach and surrounded by tourist attractions, the resort enjoys a prime position in Thailand's leading leisure destination, known for its strong year-round demand and diverse visitor base. Guided by the brand's understated luxury philosophy, Ascott Abov Patong Phuket Resort will showcase its 'Fine Arts Inspired by Nature' concept, blending luxury, tranquility and local artistry in perfect harmony. The project also includes Residences at Ascott Abov Patong Phuket, a 227-unit branded residence, with completion targeted for 2027. Ascott is also scaling its resort portfolio in Vietnam. Somerset Nha Trang, part of the landmark Libera Nha Trang development, will bring the brand's trusted family-friendly resort living to one of Vietnam's most popular beach destinations. Meanwhile, Citadines Selavia Phu Quoc will anchor a mixed-use precinct on the island's popular southwest coast. Opening in 2027, this 369-unit beachfront development will offer premium amenities including a spa with onsen facilities, all-day dining and expansive event spaces. In Cam Ranh, along Long Beach, Ascott will debut the HARRIS brand in Vietnam with the 693-unit HARRIS Resort Cam Ranh. Designed as an all-in-one resort destination, it will feature specialty dining, a beach club, water park and recreational facilities. Business travellers will also be catered for with a ballroom and dedicated meeting spaces. Slated to open in 2026, HARRIS Resort Cam Ranh marks the brand's continued expansion beyond Indonesia into high-potential Southeast Asian markets. Separately, Lasong Hotel & Villas Sam Son by The Unlimited Collection in Thanh Hoa began opening in phases in April 2025, less than six months after signing. The resort offers a distinctive retreat on one of Vietnam's most storied beaches, blending boutique hotel rooms, private villas, wellness amenities – including a Korean jjimjilbang and dedicated spa – a grand ballroom and culturally inspired dining. As the second property under The Unlimited Collection in Vietnam after Anmira Resort & Spa Hoi An by The Unlimited Collection, it underscores Ascott's commitment to culturally immersive experiences in fast-growing leisure destinations. In Indonesia, the 120-key lyf Labuan Bajo marks Ascott's debut in one of the country's most sought-after resort destinations, a rising eco-tourism hub and gateway to UNESCO-listed Komodo National Park. Opening in 2027, the property will introduce lyf's experience-led social living concept to Labuan Bajo, featuring vibrant communal spaces, coworking zones and curated local experiences designed to foster connection and exploration among next-generation travellers. Three other resort developments across Indonesia are also slated to open from 2026 to 2028. In Bali, the 57-unit Oakwood Jimbaran Villas and Residences Bali will provide direct access to the renowned shores of Jimbaran Beach, while the 366-unit Oakwood Premier Berawa Beach Bali will offer upscale beachfront living in the trendsetting district of Canggu. In Sanur, the 180-unit Oakwood Sanur Bali will be positioned within the Special Economic Zone, adjacent to the highly anticipated Bali International Hospital – a future hub for medical tourism. Featuring ocean views and convenient beach access alongside diverse accommodation choices, the property will blend coastal charm with wellness-focused amenities, complemented by recreational facilities, event spaces and destination dining experiences. In South Korea, Ascott is introducing its Oakwood brand to Lagoon Town, a landmark resort complex under development in Gangneung's Cultural Olympic Special Zone. Overlooking both Gyeongpo Lake and Gyeongpo Beach, the 500-key property will meet rising demand for leisure-led extended stays on Korea's scenic east coast. Located just five minutes from Gangneung Station and two hours from Seoul via KTX, the property is positioned to become a key coastal retreat for domestic and international travellers. In the UAE, Al Mahra Resort by The Crest Collection is set to open in 2027 on Marjan Island, Ras Al Khaimah's flagship beachfront leisure destination. The resort will feature 539 uniquely designed rooms and luxury suites with a comprehensive selection of amenities including all-day dining, specialty restaurants, bars, a spa, swimming pool, gym, kids' playroom, club lounge and flexible event spaces – making it a standout destination for upscale coastal getaways. These additions expand Ascott's growing resort portfolio, which includes ski retreat Oakwood Suites Chongli in China's premier winter sports hub, the all-villa Oakwood Ha Long near Vietnam's UNESCO-listed Ha Long Bay, Somerset Pattaya on Thailand's vibrant coast and Château Belmont Tours by The Crest Collection in France's Loire Valley. Ascott will also debut its Preference brand in the Philippines with Balai Dajao by Preference in Siargao island, the country's celebrated surfing capital. The 100-unit property featuring suites and villas is expected to operate from late 2027. With over 20 new properties in resort destinations set to open over the next three years, Ascott continues strengthening its lifestyle hospitality presence in key leisure markets worldwide. Explore Ascott's resort destinations at
