Latest news with #ChineseYuan
Yahoo
5 days ago
- Automotive
- Yahoo
Zeekr Boosts Margins, Slashes Losses As New Models Power Sales
ZEEKR Intelligent Technology (NYSE:ZK), a premium electric vehicle (EV) unit of Geely Auto, reported fiscal second-quarter results on Thursday. The company reported quarterly revenue of 27.43 billion Chinese yuan, representing a decrease of 0.9% year-on-year (Y/Y). In U.S. dollars, revenue totaled $3.83 billion. The revenue grew by 24.6% quarter-on-quarter (Q/Q).Total vehicle deliveries were 130,866 units for the quarter, representing a 9.3% Y/Y increase and a 14.8% Q/Q increase. The Zeekr brand delivered 49,337 vehicles. Meanwhile, the Lynk & Co brand delivered 81,529 vehicles, with 58.8% of deliveries coming from NEV models. The premium electric vehicle company's adjusted net loss per ADS was 1.42 Chinese yuan. In U.S. dollar terms, the company reported adjusted net loss per ADS of 20 cents. Vehicle sales revenue were 22.92 billion Chinese yuan ($3.2 billion) for the quarter, representing an increase of 2.2% Y/Y driven by higher sales volume of the Lynk & Co brand, partially offset by lower sales volume of the Zeekr brand. The revenue grew by 20.0% Q/Q, mainly driven by sales growth resulting from the launch of new models. View more earnings on ZK The vehicle margin was 17.3%, up from 11.5% in the prior year quarter, driven by sustained cost-saving initiatives. The prior quarter margin was 16.5%. Revenues from other sales and services declined 13.8% Y/Y to $630 million for the quarter, due to a decrease in R&D revenue from related parties. The revenue grew by 54.5% Q/Q due to the increased overseas sales of battery packs and electric drives. The gross margin expanded to 20.6% for the quarter from 18.0% a year ago. The prior quarter margin was 19.1%. Adjusted net loss was $51 million for the quarter, down by 81.2% Y/Y. The loss declined by 38.8% Q/Q. As of June 30, 2025, cash and cash equivalents and restricted cash stood at 10.21 billion Chinese yuan ($1.43 billion). Zeekr stock gained 4.4% year-to-date signifying intense electric vehicle competition from the likes of Tesla (NASDAQ:TSLA), Nio (NYSE:NIO). Price Action: ZK shares are trading higher 1.21% to $29.99 premarket at last check Thursday. Photo by aapsky via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Zeekr Boosts Margins, Slashes Losses As New Models Power Sales originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Malaysian Reserve
5 days ago
- Business
- Malaysian Reserve
MetaComp Executes First Real-World Cross-Border Payment Using CNT® Carbon Stablecoin
Breakthrough EUR→CNH Same-Day Settlement Marks Milestone in Sustainable Payments Infrastructure SINGAPORE, Aug. 14, 2025 /PRNewswire/ — MetaComp Pte. Ltd. ('MetaComp'), a subsidiary of Alpha Ladder Group Pte. Ltd. and a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS), has successfully executed the first real-world cross-border payment using the patented CNT® Carbon Stablecoin framework. The transaction facilitated a same-day settlement from Euros (EUR) to offshore Chinese Yuan (CNH), demonstrating how blockchain-enabled carbon-backed stablecoins can combine payment efficiency with verifiable sustainability impact. The CNT® Carbon Stablecoin framework, recently patented in Singapore by Alpha Ladder Group, converts verified decarbonisation activities into programmable, carbon-backed stablecoins. Each stablecoin can only be issued against certified emission reductions, recorded and tracked via Alpha Ladder's Non-Fungible Digital Twin (NFDT®) technology to ensure full auditability. Why This Matters Faster, Cheaper Settlement – The EUR→CNH transaction achieved same-day settlement, bypassing multiple intermediaries and their respective operating hours and allowing same-day delivery, where several business days would traditionally be required. Sustainability Built In – Every CNT® carbon stablecoin is created through verified carbon reduction projects, embedding documented sustainability value into the currency itself. RWA Token – The CNT® carbon stablecoin was issued by Alpha Ladder Finance ('ALFin'), the parent company of MetaComp, and registered with MAS CISNET as a Collective Investment Scheme (CIS) unit token under Singapore's Securities and Futures Act (SFA). Scalable Payment Intermediary – MetaComp leveraged its MAS-regulated payment infrastructure, together with ALFin as a MAS-regulated dealer of securities and CIS, to deliver a compliant cross-border transaction, paving the way for institutional adoption. How It Was DoneThe payment was processed via StableX, MetaComp's programmable FX platform powered by stablecoins, which routed the transaction using CNT® carbon stablecoins issued under Singapore's regulatory framework. Settlement finality was achieved on the same day, with corresponding carbon stablecoin data recorded on-chain. This early CNT® carbon stablecoin was backed by Chinese Certified Emission Reduction (CCER) carbon credits, generated from a wind power project in Zhangjiakou City, co-host of the 2022 Winter Olympics. The project was verified and registered with China's national carbon credits registry. Setting a New Standard'This first real-world transaction shows that sustainable cross-border payments are not a future concept – they are here today,' said Tin Pei Ling, Co-President of MetaComp. 'By integrating Alpha Ladder's patented CNT® framework into our regulated payments infrastructure, we are enabling institutions to move money globally with both financial efficiency and verifiable climate benefit.' Alpha Ladder Group, a Singapore-based digital green leader, continues to advance its mission of Digital Green Transformation with Technologies, building an interoperable financial infrastructure that makes global transactions faster, greener, and more inclusive. About Alpha Ladder Group Alpha Ladder Group (formerly MVGX Holdings) is a leading Digital Green Group shaping the future of financial innovation, financial technology, and sustainable technology. With a growing portfolio of subsidiaries, we deliver capabilities across climate SaaS, stablecoin enabled payment and wealth services, and green impact investments. Driven by cutting-edge technologies such as blockchain and AI, we empower sustainable investments, build digital financial infrastructure, and pioneer wealth innovation. Through our vision of Digital Green Transformation with Technologies, we're building a smarter, more resilient, and responsible financial ecosystem—one that mirrors the universe's own journey from elemental simplicity to structured brilliance. At Alpha Ladder, our name isn't just symbolism – it's how we move the world forward to pursue infinite alpha, one particle at a time. To learn more about us, please visit About MetaComp MetaComp is a leading licensed cross-border FX and digital assets infrastructure provider headquartered in Singapore and licensed by the Monetary Authority of Singapore (MAS) under the Payment Services Act 2019. Operating on a P2B2C (platform-to-business/partners-to-clients) model, MetaComp empowers institutions, payment service providers, fintechs, and global enterprises to navigate the evolving cross-border payments and the digital asset economy with confidence. With a strong emphasis on compliance, security, and institutional-grade infrastructure, MetaComp delivers an end-to-end suite of digital finance solutions — including OTC and exchange trading, fiat payment rails, regulated digital asset custody, and prime brokerage services. MetaComp is a subsidiary of Alpha Ladder Finance Pte. Ltd., a MAS-licensed Capital Markets Services (CMS) licensee and Recognised Market Operator (RMO). Through its proprietary Client Asset Management Platform (CAMP), MetaComp provides a secure, integrated environment that bridges traditional finance with digital assets. MetaComp's latest innovation, StableX, is a next-generation cross-border FX and liquidity routing infrastructure designed to simplify and accelerate global fund flows. Powered by stablecoins and USD, StableX intelligently optimises multi-currency conversions and settlements, enabling faster, more cost-effective, and highly competitive cross-border transactions. As the FX layer within CAMP, StableX combines the programmability of digital assets with the reliability of regulated infrastructure, delivering a scalable, compliant and seamless ecosystem for the future of global finance. To learn more about MetaComp and its regulated infrastructure and solutions, visit or follow us on Twitter @MetaCompHQ
Korea Herald
7 days ago
- Business
- Korea Herald
ICG Posts S$21.2 Million Net Profit for 1H2025, Driven by 51% Revenue Growth
SINGAPORE, Aug. 12, 2025 /PRNewswire/ -- Mainboard-listed International Cement Group Ltd. ("ICG" or the "Company", and together with its subsidiaries, the "Group"), a leading cement producer and distributor in Central Asia, today announced its financial results for the half year ended 30 June 2025 ("1H2025"). Mr Zhang Zengtao, Chief Executive Officer of ICG, said: "Our strong first-half results reflect the continued success of our expansion strategy and the resilience of our operations across Central Asia. With the Korcem plant now fully operational, we are well-positioned to meet rising infrastructure demand in Kazakhstan and Tajikistan, while maintaining our focus on cost efficiency and long-term value creation for shareholders." The Group reported a significant revenue increase of S$55.5 million, bringing total revenue to S$165.1 million in 1H2025, up from S$109.6 million in 1H2024. This growth was mainly driven by higher sales from the Kazakhstan operations, supported by contributions from the new Korcem cement plant, which has been in operation for six months, and sustained demand for Alacem cement plant. In Tajikistan, sales volume from the Mohir cement plant rose by 36% period-on-period due to improved weather conditions. Gross profit margin improved to 36%, up from 31% in 1H2024. This was driven by increased selling prices and strong demand for both Alacem and Korcem cement plants in Kazakhstan. The robust market appetite was underpinned by rising Chinese infrastructure investment and close collaboration between cement producers and the government of Kazakhstan on national development projects. Administrative expenses rose by S$3.1 million, reflecting higher staff costs, overheads, and depreciation following the commencement of operations at the Korcem cement plant. Selling and distribution expenses increased modestly by S$0.2 million following higher sales volumes. Other expenses declined by S$4.3 million, mainly due to the absence of net foreign exchange losses recorded in the prior period. Conversely, other income rose sharply from S$1.0 million to S$5.2 million, primarily reflecting net foreign exchange gains. The Group recorded a net positive foreign exchange movement of S$10.5 million, driven by the slight appreciation of the Kazakhstani Tenge against the US Dollar and Chinese Yuan. The Group's adjusted EBITDA rose to S$45.9 million in 1H2025 from S$23.4 million in 1H2024. The Group's net profit attributable to shareholders surged to S$14.9 million in 1H2025, up from S$0.9 million in 1H2024, driven by stronger operational performance and improved foreign exchange conditions. Basic and diluted earnings per share rose to 0.26 Singapore cents, compared to 0.02 cents in the previous period. Net cash generated from operating activities amounted to S$40.1 million in 1H2025 compared to S$20.9 million in 1H2024, reflecting the improved financial performance. Cash and cash equivalents increased from S$5.7 million as of 31 December 2024 to S$9.9 million as of 30 June 2025, mainly due to operating cash flows and an additional S$2.5 million secured revolving credit facility. As of 30 June 2025, the Group's net asset value (NAV) per ordinary share stood at 4.30 Singapore cents, up from 4.14 cents as of 31 December 2024. Outlook ICG is well-positioned to benefit from sustained infrastructure-driven demand in Central Asia, underpinned by positive economic outlooks in Kazakhstan and Tajikistan. The Korcem cement plant, which commenced operations in late 2024, delivered strong sales in 1H2025 and its momentum, barring any unforeseen circumstances, is expected to continue for the rest of the year, with exports to Kyrgyzstan already underway. In Tajikistan, while increased competition has impacted cement volumes, ICG is actively defending its market position through targeted distributor incentives and sales promotions. Meanwhile, the Group is progressively scaling down its non-core aluminium operations to focus resources on its core cement business, in line with its long-term growth strategy. - End - This press release is to be read in conjunction with the Company's announcement posted on the SGX website on 12 August 2025. International Cement Group Ltd. and its subsidiaries (the "Group") is primarily involved in the production, sale and/or distribution of cement, gypsum plasterboards, and related products in the Central Asia region. The Group owns and operates the largest cement plant in the Khatlon region of Tajikistan, with an annual production capacity of 1.2 million metric tonnes. Additionally, the Group owns and operates a grinding station in Kolkhozabad with an annual production capacity of 0.6 million metric tonnes, and a gypsum plasterboard plant in the Yovon district with an annual production capacity of 30 million square meters, which commenced commercial production in December 2023. Beyond its operations in Tajikistan, the Group has a strong presence in Kazakhstan, where it owns and operates three cement plants. The plants in Almaty and East Kazakhstan regions have annual production capacities of 1.2 million and 1.0 million metric tonnes, respectively. In November 2024, the Group officially opened the Korcem cement plant in the Korday district, Jambyl region, adding 1.5 million metric tonnes of annual capacity. With this latest addition, ICG has strengthened its position as the largest dry-process cement producer in Kazakhstan. The Group also has an established presence in the manufacturing and marketing of aluminum extrusions for the construction industry in Singapore.
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![[UPDATED] MACC duo, ex-colleague acquitted of robbing Chinese businessman](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fassets%2FNST-Logo%402x.png%3Fid%3Db37a17055cb1ffea01f5&w=48&q=75){kind=small}
New Straits Times
04-08-2025
- New Straits Times
[UPDATED] MACC duo, ex-colleague acquitted of robbing Chinese businessman
KUALA LUMPUR: Two Malaysian Anti-Corruption Commission (MACC) officers and a former colleague were acquitted and discharged of robbing a Chinese businessman in 2021. Sessions Court judge Izralizam Sanusi made the ruling after finding that the prosecution had failed to establish a prima facie case against MACC officers Muhamad Haffiz Mohd Radzi, 35, and Mohd Fahmee Mohamad Nor, 43, along with former officer Azwan Asli, 40, at the close of the prosecution's case. The accused had allegedly robbed Kun Gao of his belongings, which were RM952,690 in cash, 1,225 Chinese Yuan, a silver baggage and a black LV bag at Ritz Carlton Residence, Jalan Ampang at about noon on Dec 10, 2021. The trio exhaled deeply, their faces breaking into relieved smiles as the judge delivered the ruling. However, not a single family member was seen in court throughout the proceedings today. In his brief decision, Izralizam said the prosecution failed to prove and establish the elements of robbery in the transaction. He said the police report lodged by the victim, who was the prosecution's first witness (PW1), stated that the presence of the three men at his residence was to initiate an investigation into alleged money laundering offences. "PW1 said he felt threatened because all three accused informed him that he could be arrested if he failed to cooperate with the investigation. "However, the court finds that this does not amount to wrongful restraint if it was done in their capacity as MACC officers. "The victim's own testimony showed he did not appear to be fearful of the trio during the incident, as he maintained he had committed no offence. "There is no evidence that the victim was threatened with a firearm by the three men, although he claimed that one of them had a gun in his backpack," he said. He said the alleged presence of a firearm was never proven during the trial. On Dec 13, 2023, the accused pleaded not guilty to the offence which was allegedly committed at a condominium in Jalan Ampang at around noon on Dec 10, 2021. They were charged under Section 395 of the Penal Code, which carries a maximum jail term of 20 years and whipping upon conviction. Deputy public prosecutor Nor Aisyah Mohd Zanyuin prosecuted, while the three accused were represented by lawyers Tan Sri Dzulkifli Ahmad and Azzizul Shariman Mat Yusoff. A total of 17 prosecution witnesses were called during the trial, which began in December 2024. In a related case, Gao, on May 21, this year, filed a lawsuit against politician A.M.A. Tinagaran, his wife J. Latha, MACC Chief Commissioner Tan Sri Azam Baki, the trio and the government, accusing them of theft and extortion involving RM10 million. Tinagaran was appointed as PKR state deputy chairman in the Perak central leadership council for 2018-2021 and contested the Hulu Kinta state seat in the 2013 general election but lost to the Barisan Nasional candidate at that time. The plaintiff claimed Latha informed him that she could return all the plaintiff's belongings which were seized by the raiding team and requested to meet the former later for further discussion. The plaintiff claimed MACC failed to ensure that a proper, strict and binding standing order be issued to all MACC officers to prevent any form of abuse of power. He also claimed the government was vicariously liable for all actions of the said defendants. The plaintiff is seeking general, aggravated, punitive and exemplary damages.
Euronews
14-07-2025
- Business
- Euronews
China's exports beat expectations with US trade agreement now secured
China's year-on-year growth in exports rose for the first time since March last month, the General Administration of Customs said on Monday. Exports rose 5.8% in June to $325 billion, beating a 4.8% rise in May — a decline on 8.1% seen in April. June imports rose 1.1% year-on-year, up from a drop of 3.4% in May. The amount of goods sent to the US also dropped for a third consecutive month, falling 16.1% in June, although this was softer than the 34.5% drop seen in May. China increased its shipments to other markets as it seeks to diversify trade during a period of global uncertainty. During the first half of the year, there was a uptick in trade with countries in Africa, Latin America, and the EU. Increased trade with the Association of Southeast Asian Nations (ASEAN), made up of 10 countries, also supported export growth over the first half of the year. From January to June, exports to the US fell 9.9% year-on-year in Chinese Yuan terms, while imports declined 7.7%. The data comes after China and the US managed to secure a trade agreement at the end of June, following a decision by the two countries to slash their duties on each other's goods in May. Goods from China have been hit with additional 30% US tariffs this year, while China has placed a 10% duty on US imports. Beijing is hoping that trade growth can support its economy as it is hampered by weak domestic demand, linked to a prolonged property crisis. The country will publish second-quarter GDP figures on Tuesday, and the total is expected to sit close to the government's 5% target. In the coming months, the impact of the US' wider trade policy on China will become more apparent, with President Trump set to impose so-called 'reciprocal' tariffs on 1 August. An agreement between the US and Vietnam could notably affect China as it seeks to curb transhipments. Exports from Vietnam will face a 20% duty, although a steeper 40% rate will be applied to goods believed to have originated from China. The US also announced a 50% tariff on copper last week, on top of existing duties on products like cars, aluminium, and steel. More sectoral levies are in the pipeline.
