China Evergrande Group to delist from Hong Kong Stock Exchange, according to filing
The company received a letter stating 'the Listing Committee of the Stock Exchange has decided to cancel the Company's listing... as the Company failed to fulfil any of the requirements as set out under the Resumption Guidance imposed by the Stock Exchange and trading in the Shares had remain(ed) suspended', the filing said. — AFP
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Malay Mail
2 hours 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.
Free Malaysia Today
2 hours ago
- Free Malaysia Today
Sea's sales top estimates as online shoppers keep spending
Shopee's second-quarter revenue rose 34% to US$3.8 billion. (Reuters pic) SINGAPORE : Sea Ltd's second-quarter sales beat analysts' estimates as more of Southeast Asia's consumers turn to online shopping for anything from iPhones to daily groceries. Revenue rose 38% to a record US$5.26 billion in the three months through June, the company said in a statement. Analysts estimated US$5 billion on average. Net income jumped to US$414.2 million from US$79.9 million a year earlier, but fell short of the US$444 million analysts predicted. Sea's American depositary receipts jumped as much as 20% after markets opened in New York today, their biggest intraday gain in nine months. The results assuage some concerns about the prospects of e-commerce arm Shopee. The region's top online retail platform is battling deep-pocketed global challengers including ByteDance Ltd's TikTok Shop and Alibaba Group Holding Ltd's Lazada. Emerging players like Shein and PDD Holdings Inc's Temu are also looking to break into the emerging region of 675 million people where more and more shoppers are coming online. To boost its bottom line, Shopee has been steadily raising the commissions it charges merchants in various core markets by about a third since the start of last year. The hikes, which bring Shopee's fees above its rivals, show that Sea is confident it can attract and retain merchants, helped by a broad user base and well-established delivery services. Shopee's second-quarter revenue rose 34% to US$3.8 billion, thanks in part to surging commissions and ad revenue. Sea is also betting on new initiatives from digital finance to logistics to grow its dominance and convince investors of its growth potential. Its logistics arm SPX Express now handles the majority of Shopee's billions of parcels annually, while its finance arm – now known as Monee – increased sales 70% last quarter to US$882.8 million. Bookings at gaming division Garena rose 23%. 'In the past, cash flow from Sea's gaming arm Garena was used to grow Shopee and Monee, but now Shopee and Monee are in healthier capital positions,' Hussaini Saifee, an analyst at Maybank Securities, said before the results. 'Sea can now invest in further developing Garena which has also made a strong rebound over the last year and a half.'
Malay Mail
4 hours ago
- Malay Mail
"Shanghai Summer" Global Promotion Debuts in Bangkok, Inviting International Visitors to Experience the City's Summer Charm
'Shanghai Summer' Global Promotion Debuts in Bangkok, Inviting International Visitors to Experience the City's Summer Charm SHANGHAI, CHINA - Media OutReach Newswire - 12 August 2025 - On August 9 local time in Bangkok, the opening ceremony of the Spirit of Mountains and Seas – Yuyuan Lantern Festival and the 2025 China–Thailand Cultural Month: Charming Shanghai Week, along with the launch of the "Shanghai Summer" Bangkok edition, extended a warm invitation to Thai friends to join the 2025 Shanghai Summer International Consumption Season and experience the extraordinary appeal of this world-class shopping guests in attendance included Wang Xiaoyan, Director of the Bangkok Center of the Center for Language Education and Cooperation under China's Ministry of Education; Gu Yiyi from the Shanghai Information Office; Mr. Panthep Larpkesorn, representative of Thailand's Ministry of Education; Huang Weiwei, President of Strategic Development and Cooperation, CP Group China; Yi Zhaojun, General Manager of Shanghai Design Week; Zhang Liqiang, President of the Thai–Shanghai Chamber of Commerce; Yin Shujian, General Manager of China Eastern Airlines Bangkok Office; and Xu Weixin, Partner at Yuyuan Inc. Together, they officiated the lighting ceremony of the lantern 2025 Shanghai Summer International Consumption Season is a flagship annual event, showcasing Shanghai's commitment to building itself into a leading international consumption hub. Held each year from the first weekend of July to the second weekend of October, the event welcomes global visitors with openness, diversity, immersive experiences, and a constant stream of the first half of 2025, Shanghai recorded over 4.15 million inbound visitors, a year-on-year increase of nearly 38%. Among them, approximately 254,000 visitors were from Thailand—an impressive 140% growth compared with the previous year. From January to July, the city's total sales of tax-refunded goods reached RMB 2 billion, up 80% year-on-year. These figures vividly reflect the energy and appeal of Shanghai 2025 Shanghai Summer will debut with 14 new themed service packages and 2 major upgrades. Leveraging the city's convenient 240-hour visa-free transit policy, the event aims to deliver tangible convenience and attractive benefits for global visitors across every aspect of travel—dining, accommodation, transportation, sightseeing, shopping, and Travel Planning:China Eastern Airlines will release one million discounted air tickets, significantly lowering the cost of starting the journey. Through the dedicated HiChina app developed by Umetrip, visitors can enjoy one-stop services for flight check-in and train ticket booking, ensuring effortless trip Arrival, Hassle-Free Mobility:The all-in-one Shanghai Pass will be the ultimate travel companion, combining metro card functionality, Yuyuan Garden admission, and "Surprise Discount Gift Bags" at shopping malls. A robust payment network supports the entire visitor experience: UnionPay is accepted at 2,000 merchants and 100,000 stores; Visa launched the "Visa Zone for Shanghai Summer," covering eight major tourist routes; SPD Bank credit cards offer dual "payment + product" rewards; Marriott Bonvoy brings exclusive perks to guests across its portfolio of 60+ hotels in Shanghai; and Bank of China provides comprehensive support for tax refund services, ensuring worry-free shopping from start to Across the City:Over 300 cultural, tourism, commercial, sports, and exhibition events will ignite the summer spirit. Highlights include the Shanghai Disney Resort Summer-themed Celebrations, the grand opening of Shanghai LEGOLAND, and Pop Mart's Summer of Trendy Toys event, featuring blockbuster IP launches and new product debuts.A Dazzling Night Economy:Since June, Shanghai's nighttime consumption has reached RMB 88.009 billion, up 3.3% year-on-year. The "Shanghai by Night" initiative has unveiled the first five "Nighttime Economy Landmarks" and five "Top Nightlife Destinations," further energizing the city's night economy during Shanghai this array of spectacular experiences, inbound visitors—including those from Thailand—are sure to enjoy an unforgettable summer in Shanghai, leaving with lasting and cherished #ShanghaiSummer The issuer is solely responsible for the content of this announcement.
