Louis Vuitton Unveils "The Louis," an Immersive Cruise-Inspired Concept Store in Shanghai
Louis Vuittonhas recently opened 'The Louis' to the public, a cruise-inspired concept store located on Nanjing West Road in Shanghai. The stunning 30-meter-tall structure is a contemporary homage to Louis Vuitton's 19th-century heritage of crafting hand-sized travel trunks, while also paying tribute to Shanghai's historical role as a port city and its reputation as the 'Gateway to the East.'
Spanning 1,600 square meters across three levels, the design of 'The Louis' merges tradition with innovation. The exterior is wrapped in Louis Vuitton's iconic monogram, with the bow of the structure polished in steel and metal, evoking the elegance of a luxury cruise liner. The hull is finished in sleek metallic silver, accented with a bold red stripe, while the upper decks mimic the classic design of Louis Vuitton trunks, complete with leather straps and white stitch-like detailing. The architectural vision is as immersive as it is iconic — instantly recognizable yet entirely original.
Inside, the space is designed not only to be visually captivating but also deeply experiential. 'The Louis' blends retail, exhibition, and hospitality into one unified luxury destination. The first two floors are dedicated to exhibition space called the 'Visionary Journeys' exhibition, it offers guests a chance to explore the maison's connection to maritime culture and its enduring legacy of craftsmanship. Visitors encounter floating monogram trunks that appear to drift through the space, creating a surreal, dreamlike atmosphere. A dedicated perfume room showcases vintage toiletry kits some encased in Louis Vuitton trunks, while a book room features the writings of Gaston-Louis Vuitton, accompanied by a trunk-turned-book shelf and a vintage typewriter.
In another section, a sports room displays athletic gear used in prestigious events such asFormula 1and theOlympics, complemented by trophy trunks and curved digital screens that wrap around the walls to create an immersive environment. There's also a working atelier and testing area where artisans offer live demonstrations of Louis Vuitton's artisanal processes, providing guests with a rare glimpse into the craftsmanship behind the brand.
Crowning the top floor is Le Café Louis Vuitton, an elegant dining space that offers a curated fusion menu blending local Shanghai flavors with Western culinary techniques. Guests can enjoy their meals on an outdoor terrace overlooking the ship's deck or sip drinks at the beautifully designed bar. The café also boasts a large selection of pastries, further enhancing the luxurious yet welcoming ambiance.
Retail spaces within 'The Louis' are expansive and thoughtfully curated, offering selections for both men and women, including leather goods, accessories and ready-to-wear pieces. Personalization plays a key role in the experience, with exclusive hot-stamp stations offering Shanghai-only motifs — giving each purchase a bespoke, location-specific touch. Through this ambitious new concept, Louis Vuitton not only reinforces its roots in travel and heritage but redefines what a luxury retail experience can be.
The Louis is now open to the public free of charge, while access to the 'Visionary Journeys' exhibition requires advance registration through the 'My LV' WeChat mini program.
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For further details, see the 'Unaudited Reconciliation of U.S. GAAP and Non-GAAP Results' set forth at the end of this earnings release. Conference Call will hold a conference call at 8:00 AM U.S. Eastern Time on Tuesday, August 12, 2025 (8:00 PM Beijing/Hong Kong Time on the same day) to discuss financial results and answer questions from investors and analysts. For participants who wish to join the call, please complete online registration using the link provided below prior to the scheduled call start time. Upon registration, participants will receive a confirmation email containing dial-in numbers, passcode, and a unique access PIN. Participant Online Registration: A replay of the conference call will be accessible through August 19, 2025, by dialing the following numbers: United States: 1-877-344-7529 International: 1-412-317-0088 Replay Access Code: 3152089 Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at Exchange Rate This press release contains translations of certain RMB amounts into U.S. dollars ('USD') at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to USD were made at the rate of RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or USD amounts referred could be converted into USD or RMB, as the case may be, at any particular rate or at all. For analytical presentation, all percentages are calculated using the numbers presented in the financial statements contained in this earnings release. Non-GAAP Financial Measures The Company uses non-GAAP financial measures, such as non-GAAP research and development expenses, non-GAAP selling, general and administrative expenses, non-GAAP operating expenses, non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss attributable to Pony AI Inc., non-GAAP basic and diluted net loss per ordinary share, and non-GAAP free cash flows, in evaluating its operating results and for financial and operational decision-making purposes. By excluding the impact of share-based compensation expenses and changes in fair value of warrants liability, the Company believes that the non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company's past performance and future prospects. The Company also believes that the non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making. The non-GAAP financial measures are not presented in accordance with U.S. GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. The non-GAAP financial measures have limitations as analytical tools and when assessing the Company's operating performance, investors should not consider them in isolation, or as a substitute for financial information prepared in accordance with U.S. GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company's performance. For more information on the non-GAAP financial measures, please see the table captioned 'Unaudited Reconciliation of U.S. GAAP and Non-GAAP Results' set forth at the end of this earnings release. About Pony AI Inc. Pony AI Inc. is a global leader in achieving large-scale commercialization of autonomous mobility. Leveraging its vehicle-agnostic Virtual Driver technology, a full-stack autonomous driving technology that seamlessly integrates proprietary software, hardware, and services, is developing a commercially viable and sustainable business model that enables the mass production and deployment of vehicles across transportation use cases. Founded in 2016, has expanded its presence across China, Europe, East Asia, the Middle East and other regions, ensuring widespread accessibility to its advanced technology. For more information, please visit: Safe Harbor Statement This press release contains statements that may constitute 'forward-looking' statements pursuant to the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'will,' 'expects,' 'anticipates,' 'aims,' 'future,' 'intends,' 'plans,' 'believes,' 'estimates,' 'likely to,' and similar statements. Statements that are not historical facts, including statements about beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in filings with the SEC. All information provided in this press release is as of the date of this press release, and does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: Investor Relations Email: ir@ Christensen Advisory Email: pony@ Pony AI Inc. Unaudited Condensed Consolidated Balance Sheets (All amounts in USD thousands) As of As of December 31, 2024 June 30, 2025 Assets Current assets: Cash and cash equivalents 535,976 318,533 Restricted cash, current 21 20 Short-term investments 209,035 289,493 Accounts receivable, net 28,555 27,084 Amounts due from related parties, current 8,322 7,443 Prepaid expenses and other current assets 52,713 59,228 Total current assets 834,622 701,801 Non-current assets: Restricted cash, non-current 175 188 Property, equipment and software, net 17,241 29,443 Operating lease right-of-use assets 13,342 16,338 Long-term investments 130,799 214,142 Prepayment for long-term investments 52,823 25,000 Other non-current assets 1,819 4,134 Total non-current assets 216,199 289,245 Total assets 1,050,821 991,046 Liabilities and Shareholders' Equity Current liabilities: Accounts payable and other current liabilities 66,548 107,804 Operating lease liabilities, current 3,438 4,825 Amounts due to related parties, current 900 744 Total current liabilities 70,886 113,373 Operating lease liabilities, non-current 9,835 11,928 Other non-current liabilities 1,389 1,480 Total liabilities 82,110 126,781 Total Pony AI Inc. shareholders' equity 951,122 853,363 Non-controlling interests 17,589 10,902 Total shareholders' equity 968,711 864,265 Total liabilities and shareholders' equity 1,050,821 991,046 Pony AI Inc. Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss (All amounts in USD thousands, except for share and per share data) Three Months Ended Six Months Ended June 30, 2024 June 30, 2025 June 30, 2024 June 30, 2025 Revenues 12,199 21,455 24,720 35,434 Cost of revenues (12,240 ) (17,992 ) (22,134 ) (29,655 ) Gross (loss) profit (41 ) 3,463 2,586 5,779 Operating expenses: Research and development expenses (29,011 ) (49,030 ) (58,725 ) (96,516 ) Selling, general and administrative expenses (7,956 ) (15,701 ) (15,579 ) (26,574 ) Total operating expenses (36,967 ) (64,731 ) (74,304 ) (123,090 ) Loss from operations (37,008 ) (61,268 ) (71,718 ) (117,311 ) Investment income 5,173 6,513 11,350 28,687 Changes in fair value of warrants liability - - 5,617 - Other income (expenses), net 891 1,493 2,978 (2,015 ) Loss before income tax (30,944 ) (53,262 ) (51,773 ) (90,639 ) Income tax expenses (2 ) (1 ) (2 ) (1 ) Net loss (30,946 ) (53,263 ) (51,775 ) (90,640 ) Net (loss) income attributable to non-controlling interests (227 ) (165 ) (458 ) 5,446 Net loss attributable to Pony AI Inc. (30,719 ) (53,098 ) (51,317 ) (96,086 ) Foreign currency translation adjustments (741 ) 10 (1,046 ) 114 Unrealized gain (loss) on available-for-sale investments 5,185 (47 ) 5,236 (13,771 ) Total other comprehensive income (loss) 4,444 (37 ) 4,190 (13,657 ) Total comprehensive loss (26,502 ) (53,300 ) (47,585 ) (104,297 ) Less: Comprehensive loss attributable to non-controlling interests (268 ) (134 ) (529 ) (252 ) Total comprehensive loss attributable to Pony AI Inc. (26,234 ) (53,166 ) (47,056 ) (104,045 ) Weighted average number of ordinary shares outstanding used in computing net loss per ordinary share, basic and diluted 91,777,215 366,831,015 91,557,008 359,375,886 Net loss per ordinary share, basic and diluted (0.92 ) (0.14 ) (1.14 ) (0.27 ) Pony AI Inc. Unaudited Condensed Consolidated Statements of Cash Flows (All amounts in USD thousands) Three Months Ended Six Months Ended June 30, 2024 June 30, 2025 June 30, 2024 June 30, 2025 Net cash used in operating activities (18,046 ) (25,411 ) (59,122 ) (79,570 ) Net cash used in investing activities (83,013 ) (67,145 ) (28,669 ) (160,416 ) Net cash (used in)/provided by financing activities (357 ) 33,086 (710 ) 23,600 Effect of exchange rate changes on cash, cash equivalents and restricted cash 2,268 (1,167 ) (2,704 ) (1,045 ) Net change in cash, cash equivalents and restricted cash (99,148 ) (60,637 ) (91,205 ) (217,431 ) Cash, cash equivalents and restricted cash at beginning of period 434,148 379,378 426,205 536,172 Cash, cash equivalents and restricted cash at end of period 335,000 318,741 335,000 318,741 Pony AI Inc. Unaudited Reconciliation of U.S. GAAP and Non-GAAP Results (All amounts in USD thousands, except for share and per share data) Three Months Ended Six Months Ended June 30, 2024 June 30, 2025 June 30, 2024 June 30, 2025 Research and development expenses (29,011 ) (49,030 ) (58,725 ) (96,516 ) Share-based compensation expenses 273 4,970 605 11,874 Non-GAAP research and development expenses (28,738 ) (44,060 ) (58,120 ) (84,642 ) Selling, general and administrative expenses (7,956 ) (15,701 ) (15,579 ) (26,574 ) Share-based compensation expenses 398 2,235 855 4,343 Non-GAAP selling, general and administrative expenses (7,558 ) (13,466 ) (14,724 ) (22,231 ) Operating expenses (36,967 ) (64,731 ) (74,304 ) (123,090 ) Share-based compensation expenses 671 7,205 1,460 16,217 Non-GAAP operating expenses (36,296 ) (57,526 ) (72,844 ) (106,873 ) Loss from operations (37,008 ) (61,268 ) (71,718 ) (117,311 ) Share-based compensation expenses 671 7,205 1,460 16,217 Non-GAAP loss from operations3 (36,337 ) (54,063 ) (70,258 ) (101,094 ) Net loss (30,946 ) (53,263 ) (51,775 ) (90,640 ) Share-based compensation expenses 671 7,205 1,460 16,217 Changes in fair value of warrants liability - - (5,617 ) - Non-GAAP net loss (30,275 ) (46,058 ) (55,932 ) (74,423 ) Net loss attributable to Pony AI Inc. (30,719 ) (53,098 ) (51,317 ) (96,086 ) Share-based compensation expenses 671 7,205 1,460 16,217 Changes in fair value of warrants liability - - (5,617 ) - Non-GAAP net loss attributable to Pony AI Inc. (30,048 ) (45,893 ) (55,474 ) (79,869 ) Weighted average number of ordinary shares outstanding used in computing net loss per ordinary share, basic and diluted 91,777,215 366,831,015 91,557,008 359,375,886 Non-GAAP net loss per ordinary share, basic and diluted (0.91 ) (0.13 ) (1.19 ) (0.22 ) 3 Such adjustments have no impact on income tax for the three-month and six-month periods ended June 30, 2024 and 2025 due to i) the conditions on tax deduction for share-based compensation have not been met, and valuation allowance was provided for all deferred tax assets; and ii) warrants are issued by the Group's Cayman entity, and its applicable income tax rate is nil. Pony AI Inc. Unaudited Reconciliation of U.S. GAAP and Non-GAAP Results (All amounts in USD thousands, except for share and per share data) Three Months Ended Six Months Ended June 30, 2024 June 30, 2025 June 30, 2024 June 30, 2025 Net cash used in operating activities (18,046 ) (25,411 ) (59,122 ) (79,570 ) Capital expenditures (1,736 ) (9,576 ) (1,906 ) (14,464 ) Free cash flows4(Non-GAAP) (19,782 ) (34,987 ) (61,028 ) (94,034 ) 4 Free Cash Flows are a non-GAAP measure, commonly defined as cash flows from operating activities as presented in the statement of cash flows, less capital expenditures. However, in the context of the Company, operating cash flows are a cash out (i.e., a cash outflow). Free Cash Flows represent the total of operating cash outflows plus capital expenditures. This metric reflects the Company's important cash outflows, as it combines the funds required to maintain operations and invest in growth.
