– Event brings together over 2,300 global leaders, driving multi-party collaboration in the pursuit of industry growth
– The 15th Asian Logistics, Maritime and Aviation Conference (ALMAC) came to a successful conclusion today. The two-day event featured insights from over 80 industry leaders in the shipping, aviation, logistics and supply chain sectors, attracting over 2,300 participants from over 40 countries and regions, with an encouraging response – The conference facilitated meaningful collaboration, arranging close to 400 business matching meetings and successfully signing 11 MoUs across the aviation, logistics, shipping and technology sectors – The Hong Kong’s NextGen Logistician Award Presentation Ceremony 2025 was held on the second day of the conference, recognising young talents in the logistics industry who have made significant achievements and shown remarkable potential in innovative, high-end, smart and sustainable logistics
The 15th Asian Logistics, Maritime and Aviation Conference (ALMAC), organised by the Hong Kong Special Administrative Region (HKSAR) Government and the Hong Kong Trade Development Council (HKTDC), ran successfully over two days at the Hong Kong Convention and Exhibition Centre in Wan Chai. The event brought together over 80 industry leaders from the shipping, aviation, logistics and supply chain sectors to share valuable insights across more than 20 thematic sessions and workshops. The conference received an encouraging response, attracting over 2,300 participants from over 40 countries and regions.
This year’s ALMAC not only provided a platform for Hong Kong to explore the prospects and opportunities in these industries but also fostered meaningful collaboration among industry stakeholders. Close to 400 business matching meetings were arranged over the two days, and 11 Memoranda of Understanding (MOUs) were successfully signed across the aviation, logistics, shipping and technology sectors. Notably, the HKTDC and Greater Bay Airlines Company Limited signed an MoU to deepen collaboration through diverse channels, working together to further Hong Kong’s position as a preferred world-class city destination for global trade and tourism.
Exploring industry trends and unlocking new opportunities This year’s conference, themed “Collaboration and Growth in the New Trade Landscape”, brought together global industry leaders to discuss trends and opportunities in logistics, maritime and aviation. Key focus areas included supply chain diversification and opportunities in emerging markets, sustainability and green energy and innovation and technology.
In recent years, global enterprises have faced diverse challenges such as geopolitical tensions, shifting global tariffs and ongoing supply chain disruptions. During the session “Steering Business Growth in a New Era of Global Trade”,Brian Bourke, Global Chief Commercial Officer SEKO Logistics, shared: “Watch out for the new technologies. The future is already here. Partnerships are critical, if not more so today than ever before. In order to help any organisation navigate through disruption, the focus must be on a resilient supply chain and diversification. But I do have to say that it’s the partnerships you forge that are going to help when the unknowns happen.”
In the same session, Henri Le Gouis, Executive Vice President, Global Freight Forwarding of GEODIS, remarked: “When you talk about disruptions, you talk about escalation. We need to be escalating to the right people in the different organisations we work with to find the right solutions. And rapidly, we need people who are able to decide, make the right decisions, and find the right solutions even if the events are unexpected. It’s important to select the partner you work with that will find solutions when times are getting difficult.”
As the world advances toward net-zero emissions, green transformation has become critical to achieving sustainable development in logistics and associated industries. On the second day of ALMAC, the “Green Energy Forum: Fuels, Freight, and the Road to Net Zero” featured suppliers and logistics companies, sharing how innovative technologies can help in the implementation of sustainable strategies, align with global policies, reduce carbon footprints and accelerate progress toward net-zero goals. James Laybourn, Regional Segment Director, APAC of DNV Energy Systems, shared: “We talk about many options in terms of fuel, including additional fuel, diesel, and fuel for ships. We need to see where the priorities are and how exactly to tackle this energy transition.”
The Hong Kong SAR Government is actively promoting the development of the low-altitude economy. Leveraging ALMAC as a platform, a dedicated session titled “The Engine of Low-altitude Economy: How Cargo Drones Are Revolutionising the Future of Air Logistics” was hosted on the opening day. Among the speakers, Bobby Healy, CEO and Founder of Manna Drone Delivery, stated: “The challenge has always been to find a friendly drone-regulated country. The next challenge is going to be accessing the actual airspace because, in Europe, we have standards and regulations for the low average. Individual countries have not implemented them yet.”
Kenny Lau, Chief Technology Officer of S.F. Express (Hong Kong) Limited, shared: “First, we should create an efficient and high-value investment space to maximise the benefits in the world, and we also have to integrate with the logistics network. Second, we should share resources. The sky is very busy in the GBA area, especially in Hong Kong. Thirdly, we should build a standard framework. Hong Kong is a very good platform for competition.”
Another key session at the conference was “Digital Workshop – Implementing AI in your Supply Chain”, delivered by Steve Ng, Head of Supply Service – Hong Kong, Taiwan of Reckitt, showcasing multiple use cases and supply chain automation planning processes. The “Youth Empowerment Workshop” discussed trends in logistics and supply chain management along with career prospects and continuous value enhancement strategies that can attract new talent to the industry.
The ALMAC exhibition this year showcased over 90 exhibitors with dedicated zones for aviation, the low-altitude economy, supply chain management and logistics services, maritime and port services and logtech. Appearing for the first time, the Low-altitude Economy zone highlighted globally leading low-altitude logistics technology solutions, further promoting strategic partnerships and business development in this fast-rising sector.
As advocated in the Action Plan for Modern Logistics Development by the Transport and Logistics Bureau, the Hong Kong’s NextGen Logistician AwardPresentation Ceremony2025 was held on ALMAC’s second day. These prestigious awards honour the exceptional achievements of young talents in innovative, high-end, smart and sustainable logistics. Under Secretary for Transport of the HKSAR Government Liu Chun-san served as the presenter at the awards ceremony. Sky Sin of Hongkong International Terminals, Jeffrey Leung of Hong Kong Air Cargo Terminals Limited and Esmond Cheung of Aerovision Technology Limited received the Young Professional Award, and Adrian Chan of Hong Kong YunExpress Logistics Limited and Karen Lai of Ove Arup & Partners Hong Kong Limited received the Young Executive Award.
About HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With over 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus.
In recent years, as Chinese domestic brands have made breakthroughs in intelligent and electric vehicle technologies, premiumization has emerged as a core trend in China’s new energy passenger vehicle sector. Among them, Seres Group Co., Ltd. ( SERES ) has taken the lead by launching its premium automotive brand “AITO”, strategically positioning itself in the luxury new energy market.
Leveraging robust product strength, the AITO series models have demonstrated rapid sales growth since their launch, showcasing strong momentum. With outstanding product capabilities and brand positioning, the brand has earned the reputation as China’s “Mercedes & BMW”. On October 13th, SERES successfully passed the Hong Kong Stock Exchange listing hearing, poised to become the first luxury new energy vehicle manufacturer to achieve an “A+H” dual listing on the Hong Kong stock market.
Technology-Driven Foundation + Streamlined Delivery: Building Core Competitive Moat Amid accelerating technological iteration in the luxury new energy vehicle sector and rising consumer expectations for delivery timeliness, SERES has established a dual advantage of “technological barriers + delivery assurance”. This positions it as one of the few automakers in the premium new energy market capable of achieving both scale and high quality simultaneously.
Technologically, SERES has consistently increased R&D investment, building core competitiveness through accumulated technological strength. The Company’s R&D expenses reached RMB5.6 billion in 2024, and RMB2.9 billion in the six months ended June 30, 2025, ranking among the highest among domestic automakers. Its self-developed MF Platform covers the development needs of multi-tier, multi-category, and multi-power-form vehicle models. Meanwhile, through platform-based vehicle manufacturing, it effectively reduces overall vehicle development costs while significantly enhancing development agility and flexibility, providing critical support for expanding profit margins. In the extended-range technology sector, SERES is the first vehicle manufacturer to commercialise mass-produced range extenders. Its latest generation of the SERES super-range extender system boasts a maximum oil-to-electricity conversion rate of 3.65kWh/L, which is the highest level of mass-produced range extenders in the industry. This effectively alleviates user charging anxiety and sets a new technical benchmark for the industry.
Delivery capabilities further solidify its competitive barriers. As new vehicle orders surge exponentially, rapidly scaling delivery capacity becomes a critical test for automakers. Relying on digital manufacturing and supply chain management capabilities, SERES has achieved industry-leading delivery efficiency. Leveraging digital-twin technology, our SERES Super Factory utilises digital technology as a driving force and seamlessly integrates artificial intelligence, big data, the Internet of Things to establish an intelligent manufacturing platform that achieves large-scale, high-quality and agile delivery. In 2024, the annual production volume of the AITO M7 reached approximately 200,000 vehicles, with monthly deliveries exceeding 30,000 vehicles. The production volume of the AITO M9 exceeded 150,000 vehicles within 10 months following its launch in 2024, achieving “rapidly scale upon launch”.
Sales and Earnings Soaring, Launching a New Phase of Profitability Technological accumulation ultimately translates into formidable product competitiveness. By the end of September 2025, cumulative deliveries across the entire AITO series surpassed 800,000 units, setting a new record for delivery speed among China’s luxury new energy brands. Among these, cumulative deliveries of the AITO M9 series exceeded 240,000 units, while the AITO M8, launched in April 2025, surpassed 100,000 units in cumulative deliveries, becoming the sales champion in the RMB500,000 and RMB400,000 price segments respectively.
Financial performance was equally impressive. In 2024, SERES achieved revenue of RMB145.1 billion, representing a year-on-year increase of 305.5%. Concurrently, driven by optimized product mix, the Company’s gross profit margin significantly improved to 23.8% in 2024, up 16.6 percentage points year-on-year, and increased to 26.5% for the six months ended June 30, 2025. This enhanced profitability directly propelled the Company toward a pivotal turning point. In 2024 and for the six months ended June 30, 2025, SERES recorded a net profit attributable to owners of the Company of RMB5.9 billion and RMB2.9 billion, respectively. This achievement positions SERES as the fourth profit-making new energy vehicle company in the world.
From an industry perspective, China’s premium new energy vehicle segment is entering a phase of rapid volume growth. According to Frost & Sullivan, in 2024, the sales volume of premium NEPVs reached 2.6 million units, accounting for 23.4% of the total NEPV market in China. The sales volume is expected to reach 5.7 million units by 2030, with market share rising to 29.8%, representing a compound annual growth rate (CAGR) of 14.0% from 2024 to 2030.
SERES is building long-term competitive barriers through clear brand positioning and leading technological capabilities. Centered on its AITO brand, the Company continues to deepen its intelligent and luxury vehicle strategy, achieving simultaneous growth in market share and profitability. Moving forward, as the Hong Kong listing process advances, SERES will further broaden its access to international capital, accelerate its global expansion, and inject fresh momentum into brand internationalization and long-term value growth.
On 7 November, CNGR Advanced Material Co., Ltd.(CNGR or the Company HKG: 2579), a globally renowned enterprise in new energy materials, officially launched its IPO. The offering is currently underway. If progress proceeds smoothly, the Company will become the second new energy materials enterprise in China to achieve dual listing on the A-share and H-share markets following CATL, highlighting its prominent industry position.
During intraday trading on 7 November, the stock price of CNGR (300919.SZ) surged rapidly, attracting significant investor attention. At the time of publication, the stock price had risen over 5%, reflecting robust market participation.
Achieving Several Breakthroughs with Profound R&D and Innovation Capabilities As a key player in the global new energy materials sector, CNGR has built a comprehensive and diversified product matrix through its vertically integrated business model. Core products encompass nickel-based, cobalt-based, phosphorus-based, sodium-based and other innovative new energy battery materials, along with new energy metal products, fully meeting the diverse needs of downstream industries.
CNGR has always regarded technical R&D as the core driving force of its development. Through years of accumulation, the Company has accumulated extensive technological expertise and industry experience, and established an integrated R&D platform that spans the entire production process and product life cycle from “mineral metallurgy to new energy materials research and mass-production process development, to manufacturing equipment design and optimization, product testing and assessment, and to recycling”, ensuring product quality consistently meets customers’ high standards while effectively controlling costs in the operations, so as to achieve the dual competitive advantages of “high quality” and “high cost-effectiveness”.
Leveraging strong R&D capabilities, CNGR has achieved several industry breakthroughs: pioneered the industry-first ultra-high-nickel pCAM with energy density reaching 230 mAh/g, surpassing traditional ternary batteries by 27.8% to 12.7%, respectively; launched the industry-first 4.55V high voltage cobalt-based pCAM, significantly boosting charging efficiency for LCO batteries in consumer electronics; developed the industry-first low-cost NFPP pCAM for sodium-ion batteries, which serves as a premium alternative to lithium-ion batteries and has been in mass production since 2024, opening a new growth trajectory for the Company.
CNGR’s three industry-first R&D achievements precisely align with the performance upgrade demands of the lithium battery industry while proactively positioning the Company in the sodium-ion battery alternative track. These breakthroughs have not only secured stable core clients and sustained revenue growth but also solidified the Company’s technological influence and industry standing in the global new energy materials sector. With increased R&D investment following its dual A+H share listing, the Company is poised to achieve breakthroughs across multiple frontier sectors, continuously driving industry-wide technological evolution, and unlocking vast market opportunities and growth potential for the Company.
Maintaining Rapid Growth in Performance with Steady Profitability Quality Enhancement Driven by industry growth momentum and intrinsic competitive advantages, CNGR has achieved rapid performance growth. In terms of revenue, from 2022 to 2024, the Company’s revenue increased from RMB30.344 billion to RMB40.223 billion, achieving a CAGR of 15.13% and maintaining a steady growth trend; in the first half of 2025, the revenue reached RMB21.323 billion, nearly 70% of the full-year 2022 revenue, representing a year-on-year increase of 12.42% as compared to RMB18.967 billion in the first half of 2024, demonstrating a steady acceleration in growth momentum and highlighting the continuity and explosive potential of business expansion. This growth is not a short-term pulse but sustainable expansion driven by capacity release, customer acquisition and industry demand, exhibiting strong certainty.
In terms of profitability, the Company’s net profits for 2022-2024 and the first half of 2025 amounted to RMB1.539 billion, RMB2.101 billion, RMB1.788 billion, and RMB0.706 billion respectively, maintaining a relatively high profitability level within the industry. Notably, the net profit recorded a decline in 2024 as compared to 2023, which was primarily due to temporary price competition in the industry and short-term fluctuations in raw material prices, but still exceeded that in 2022, demonstrating strong counter-cyclical resilience.
In terms of profit quality, the Company’s EBITDA margin (non-IFRS measures) for 2022-2024 and the first half of 2025 stood at 8.8%, 11.4%, 10.6% and 10.7%, respectively, maintaining an overall range of 8%-11%, outperforming industry averages and underscoring the Company’s strengths in cost control and product pricing.
In general, as a global leader in new energy materials sector, CNGR possesses a clear growth logic and vast development potential by leveraging its technological R&D strengths, full industrial chain coverage and premium customer resources. This listing in Hong Kong will inject new momentum into its future R&D investments, capacity expansion and global footprint, enabling it to seize more opportunities amid the rapid development of the new energy industry, thereby achieving higher-quality growth with promising future growth potential.
CNGR Advanced Material Co., Ltd. (02579.HK, 300919.SZ) https://cngrgf.com.cn
Japanese tech innovator Serendix Inc. and Australian advisory firm Planum Partners have signed a strategic Memorandum of Understanding (MoU) to introduce cutting-edge 3D printed housing technology to Australia, beginning with a demonstration project in Queensland.
The signing took place at the Australia Pavilion at World Expo 2025 in Osaka, witnessed by Tak Adachi, Queensland’s Senior Trade and Investment Commissioner for North Asia.
The partnership was facilitated by Trade and Investment Queensland (TIQ).
Tak Adachi, Senior Trade and Investment Commissioner, North Asia said the partnership showcases Queensland’s commitment to embracing transformative technologies.
“This alliance is a bold step toward delivering faster, more affordable homes—especially for our regional communities—and it shows the world that Queensland is open for smart, scalable investment,” said Mr Adachi.
“3D printed homes can be built in under 24 hours, dramatically reducing construction time and costs.
“By aligning Japan’s innovation in 3D printing with Queensland’s housing goals, we’re opening doors to scalable solutions and long-term international collaboration,” said Mr Adachi.
The collaboration aims to revolutionise the construction industry by delivering affordable, sustainable, and rapidly deployable housing solutions using Serendix’s proprietary 3D printing technology.
The MoU outlines a joint commitment to work with the Queensland Government to build a demonstration home and conduct a feasibility study on the suitability of Serendix’s products to suit local conditions.
“Serendix is keen to work with the Queensland Government going forward and to meet the expected strong demand for 3D printed housing with a local facility in the future,” said the CEO of Serendix, Hiroyasu Koma.
“We are very excited about the potential to contribute to Queensland and Australia sustainable and affordable housing sector.”
Following the demonstration phase, Planum Partners will support Serendix in exploring broader expansion across Queensland, with a focus on regional development and housing innovation.
“The signing marks a defining moment in Queensland’s innovation journey throughout World Expo 2025 Osaka, showcasing a bold commitment to advancing global partnerships and promoting investment opportunities across the entire Expo program,” Mr Adachi concluded.
TIQ approached Serendix upon discovering their plan to host a 3D printed housing demonstration at Expo 2025 capturing global attention and setting the stage for this groundbreaking collaboration.
Japanese electronics leader Sharp Corporation and Queensland-based energy innovator Energy Storage Industries-Asia Pacific (ESI) have signed a strategic Memorandum of Understanding (MoU) to co-develop next-generation zinc-air flow battery technology, marking a milestone in global energy storage innovation.
The MoU was signed at the Australia Pavilion at World Expo 2025 in Osaka, witnessed by Tak Adachi, Queensland’s Senior Trade and Investment Commissioner for North Asia. The partnership was facilitated by Trade and Investment Queensland, reinforcing the state’s role as a global connector in clean energy collaboration.
Tak Adachi, Senior Trade and Investment Commissioner, North Asia said the partnership reflects the kind of forward-thinking collaboration that defines the relationship between Japan and Queensland that’s been highlighted throughout World Expo 2025 Osaka.
“By combining Japanese innovation with Queensland’s research and deployment strengths, we are laying the groundwork for scalable, sustainable energy solutions that can serve markets across the Indo-Pacific and beyond,” Mr Adachi said.
“This project reflects the strength of Australia-Japan technology ties and the shared commitment to building resilient, low-emission energy systems. By connecting Japanese technology with Queensland’s energy expertise and research capability, we’re accelerating the future of sustainable power — and creating jobs and investment opportunities for our state.”
Bringing together Sharp’s world-class leadership in electrochemical systems and ESI’s proven track record in deploying long-duration energy storage infrastructure, the collaboration will begin with a technical proof-of-concept in partnership with The University of Queensland, supported by targeted research funding and a dedicated research position.
“We are thrilled to collaborate with ESI, made possible by the support of the State of Queensland,” said Norio Ito, Senior Vice President, Head of Corporate Research & Development Group, Sharp Corporation.
“This partnership will enable us to integrate the technologies of both companies, with the goal of accelerating the research and development of zinc-air flow batteries and contributing to the realisation of a carbon neutral society.”
The project will explore the viability of zinc-air flow batteries as a safe, sustainable alternative to lithium-based systems, offering longer storage durations, lower costs, and enhanced compatibility with renewable energy sources.
Justin Begg, CEO of Energy Transition Technologies (ETT), the ESI subsidiary driving commercial R&D and technology development in Australian decarbonisation, is excited to be working with such an innovative partner as Sharp.
“Building from 100 years of Sharp product innovation, this MoU signals not only the collaboration between Sharp and ESI but between Japan and Queensland. We thank the State of Queensland, and in particular Trade + Investment Queensland, for their support in developing this relationship. We look forward to the mutually beneficial outcomes that will follow.”
Following the initial proof-of-concept phase, Sharp and ESI intend to pursue additional research grants and advance toward commercialisation—positioning Queensland as a global hub for next-generation energy storage.
Nanning, China, Sept 26, 2025 – (ACN Newswire) – The 22nd China-ASEAN Expo (CAEXPO) took place in Nanning, Guangxi, China, from September 17 to 21, 2025. Nanning Rail Transit Investment Group served as a bridge for regional cooperation through diversified approaches such as project agreements, technology export, and cooperation and exchanges, showcasing the comprehensive strength of state-owned enterprises and delivering significant achievements.
During the CAEXPO this year, the Group signed three cooperation projects with JD.com and other enterprises, with a total investment of RMB 850 million, covering the fields of green energy and artificial intelligence (AI). The Group also joined hands with the Shenzhen Institute of Computing Sciences and Funeng Technology Holdings (Shenzhen) Co., Ltd. to establish the “Intelligent Transportation AI Data Joint Laboratory,” integrating resources from all three parties to explore innovative smart rail transit applications and advance the commercialization of scientific and technological achievements. Leveraging the ASEAN Metro Cooperation Committee of the China Association of Metros, the “China-ASEAN Rail Transit Training Base” was officially inaugurated. This initiative integrates resources from the government, enterprises, and schools to cultivate high-quality rail transit professionals who possess both expertise and an international perspective, drive innovation in smart rail transit technologies, and facilitate the commercialization of achievements, thereby deepening collaboration between China and ASEAN in the rail transit sector. As the host enterprise, the Group also organized the 2nd China-ASEAN International Seminar on Railway Interconnectivity Standardization, actively establishing a regional platform for talent cultivation and joint standard-setting. At the Nanning-Hanoi Economic Corridor and the “Belt and Road” Nanning Friendship Cities Exchange Conference, the Group developed a customized “MaaS Smart Mobility+” solution to meet the needs of Khon Kaen, Thailand, for an integrated smart transportation system (Model as a Service, MaaS), providing tailored solutions for smart transportation across ASEAN. The “Guangxi AI + Low-altitude Economy Industry-Education Integration Community” was inaugurated, which marked a deepened collaboration among the government, industry, colleges and universities, research institutes, and users. The ASEAN 10-country, multilingual, real-time translation AI-powered intelligent and digital subway customer service system, jointly developed with Unisound, also drew significant attention during the CAEXPO. During the CAEXPO, delegations from 12 government and business associations representing seven countries, including the United Kingdom, Myanmar, and Vietnam, visited and conducted on-site inspections of key facilities, such as the Network Operations Command Center (NOCC), the Intelligent Operations and Maintenance Center, and the Nanning Railway S&T Innovation Industrial Park. They gave high praise to Nanning subway’s efficient and intelligent operations and its 99.99% train punctuality rate, commending it as a benchmark for ASEAN rail transit operations.
Established in 2008, Nanning Rail Transit Investment Group comprises 77 subsidiaries at various levels and employs more than 12,000 people. The Group has been repeatedly recognized as an “Excellent Enterprise in Guangxi” and listed among the “Top 100 Enterprises in Guangxi.” Currently, the Group operates five subway lines that extend a total of 128.2 kilometers. In the first half of 2025, passenger ridership exceeded 187 million, with a passenger density of 8,300 individuals per kilometer per day, which ranked the Group 12th among 53 subway operators nationwide.
In terms of industrial layout, the Group has established a coordinated model integrating rail transit construction and operation, equipment manufacturing, digital economy, and urban development. Its Nanning Rail Transit Intelligent Manufacturing Industrial Park and Nanning Railway S&T Innovation Industrial Park have attracted nearly 50 high-end enterprises, forming an industrial cluster. The Group’s independently developed intelligent operation and maintenance system, protected by 54 patents, serves more than 70 lines across 14 cities in China. In the realm of smart cities, the Group has developed a smart platform enabling seamless integration between public transportation and shared mobility, advancing the MaaS model through “industrial investment + digital services.” The “Nanning Railway One-Code Access” and “Nanning Railway APP” have served over 8 million users, facilitating over 10 billion travel scenario connections.
At present, the Group has built an investment-construction-operation-management integrated system encompassing all aspects of rail transit, including design, construction, operation, consulting, maintenance, equipment manufacturing, and talent cultivation. It can provide comprehensive solutions throughout the entire chain and continues to contribute to the high-quality development of China-ASEAN rail transit and the advancement of the Belt and Road Initiative (BRI).
On August 29, SERES announced its 2025 mid-year results, reporting strong growth across all key metrics. In the first half of the year, SERES achieved operating revenue of CNY 62.4 billion and net profit attributable to shareholders of CNY 2.94 billion—an 81% year-on-year increase. R&D investment reached CNY 5.12 billion, up nearly 155% from the prior year, while NEV sales totaled 172,108 units.
This impressive performance was fueled by robust demand for premium smart electric vehicles under the AITO brand, supported by exceptional product quality and delivery capabilities. Contributing factors include the versatile MF Platform for efficient model development, the Super Factory for rapid production scaling, advanced digital-intelligent quality assurance systems, and a modern luxury experience that continues to strengthen AITO’s market reputation.
AITO’s latest models continue to raise the bar, with the AITO 9 and AITO 8 maintaining their positions as sales leaders.
In the first half of this year, the AITO series continued to evolve with several new launches, including the AITO 5 Ultra, the 2025 Edition AITO 9, and the AITO 8—all of which received strong market and consumer response.
Thanks to improvements across its entire value chain, AITO has set new standards for delivery among China’s luxury new energy vehicle brands. As of August 2025, total deliveries of all AITO models have surpassed 750,000 units. Notably, cumulative deliveries of the AITO 9 have exceeded 220,000 units, making it the top-selling vehicle in the CNY 500,000 luxury car segment. The AITO 8 quickly became a bestseller after its debut, with over 70,000 units delivered and holding the top spot in the CNY 400,000 price segment for four consecutive months.
Additionally, according to LandRoads’ Brand Health Tracking Study for New Energy Vehicles in the first half of 2025, the AITO brand ranked No. 1 in the Brand Development Confidence Index. The AITO 9 also led the overall new energy vehicle Net Promoter Score (NPS) rankings, with a score of 85.2.
Notably, AITO launched an all-electric version of its family-focused flagship SUV, the AITO 8, on August 25. The all-new AITO 7 is also set to make its official debut in September. With the ongoing introduction of new models, AITO continues to expand its product lineup to meet the diverse needs of consumers and strengthen its leadership in the luxury new energy vehicle market.
A Commitment to Technological Innovation and Robust R&D Investment Technological innovation is central to SERES’ long-term growth. The company has consistently invested in research and development, driving new advancements and achieving remarkable results in technology. In the first half of 2025, SERES invested CNY 5.20 billion in R&D—nearly a 155% increase year-over-year. The number of R&D personnel reached 6,984, up approximately 27% from last year and now comprising 36% of the company’s total workforce.
At this year’s Shanghai Auto Show, SERES unveiled its intelligent safety system, pioneering a scenario-based approach to vehicle safety. The new system establishes an intelligent safety framework across four key areas: life protection, vehicle body protection, health care, and privacy protection. This comprehensive approach ensures user safety throughout the entire vehicle lifecycle and sets a new industry benchmark for intelligent safety.
Previously, SERES introduced a series of major technological advancements, including the SERES MF Platform, SERES Super Range-Extender, and the SERES Super Factory. The SERES Super Factory has been an industry pioneer with its “factory-within-a-factory” model, driving product integration, intelligent manufacturing, and industrial clustering to boost collaboration and innovation. The company also set a new industry standard with its Zero-Carbon Smart Logistics Hub.
Brand Value Surges Amid Strong Investor Confidence As the world’s fourth new energy vehicle manufacturer to achieve profitability, SERES laid a strong foundation for growth in the first half of the year through strategic product portfolio optimization, technological innovation, and enhanced operational efficiency.
SERES also ranked 169th on the 2025 Fortune China 500 list. This was an ascent of 235 spots from the previous year, making it the fastest-climbing company on the list. On the TopBrand 2025 China’s Top 500 Brands list, released in August, SERES ranked 92nd with a brand value of CNY 175.52 billion, breaking into the automotive industry’s top 10 and highlighting its leadership in brand development and market influence. More recently, on August 28, SERES climbed to 59th place—up 174 spots—on the 2025 China Top 500 Private Enterprises list, becoming the top-ranked private enterprise in Chongqing.
Meanwhile, the capital markets continue to show strong confidence in SERES’ future growth. In the past six months, nearly 40 securities firms have issued “Buy” ratings for SERES, with expectations that the company will maintain a strong growth trajectory throughout the second half of the year.
HONG KONG, Sep 4, 2025 – (ACN Newswire) – On September 2, Zhejiang Expressway Co., Ltd. (hereinafter referred to as “Zhejiang Expressway,” Stock Code: 00576.HK) announced a major development — it plans to absorb and merge Zhejiang Oceanking Development Co., Ltd. (hereinafter referred to as “Oceanking Development”). The news has attracted widespread attention in both the capital markets and the industry, reflecting numerous strategic considerations and long-term significance.
Zhejiang Expressway is a core member and key listed platform of Zhejiang Provincial Transportation Group. Leveraging its profound historical legacy, it holds a pivotal leading position in the expressway investment and operation sector. The Company focuses on managing strategically vital road networks within Zhejiang Province, undertaking the critical mission of ensuring regional transportation connectivity. As the only listed expressway company in Zhejiang Province, it has deeply established its presence in the middle and lower reaches of the Yangtze River, boasting irreplicable geographical advantages and continuously growing traffic demand, which consolidate its dominant market position.
The main assets operated by Zhejiang Expressway include the 248-km Shanghai-Hangzhou-Ningbo Expressway, the 141-km Shangsan Expressway, the 70-km Jinhua Section of the Ningbo-Jinhua Expressway, the 122-km Hanghui Expressway, the 82-km Huihang Expressway, the 46-km Zhoushan Bay Bridge, the 222-km LongLiLiLong Expressway, the 50-km Zhajiasu Expressway, and the 161-km HuangQuNan Expressway. In addition to the above expressway assets, the Company also operates two major financial business segments (Zheshang Securities and Zheshang Futures), further diversifying its business structure and establishing a solid foundation for its diversified development.
This absorption and merger will have a significant positive impact on Zhejiang Expressway’s H-share price. According to the announcement, the issue price of A-shares of Zhejiang Expressway is RMB 13.5 per share, representing a premium of approximately 119.01% over the closing price of HKD 6.76 per H-share of Zhejiang Expressway on the Hong Kong Stock Exchange on September 2, 2025. Among all listed expressway-related companies in both markets, Zhejiang Expressway ranks first in net profit attributable to the parent, consolidating its leading position in the industry.
According to the financial report, in the first half of 2025, Zhejiang Expressway achieved revenue of RMB 8,685.46 million, representing an increase of 3.8% as compared to the same period in 2024. Profit attributable to owners of the Company was RMB 2,787.48 million, representing a year-on-year increase of 4.0%. Basic earnings per share was RMB 46.51 cents, representing a year-on-year increase of 4.0%. Diluted earnings per share was RMB 46.51 cents, representing a year-on-year increase of 5.6%.
By business segment, segment profit from the nine major expressways operated by the Company achieved RMB 2,258.26 million, representing a year-on-year increase of 6.3% and 57.5% of the total profit. Segment profit generated from securities business was RMB 1,258.41 million, representing a year-on-year increase of 56.6% and 32.1% of the total profit.
However, despite strong performance, the H-share P/E of Zhejiang Expressway still lagged noticeably behind A-share peers. Based on a comprehensive analysis of industry average prices and the lowest A-H share discount, it was estimated that after converting to A-shares, Zhejiang Expressway’s valuation could have an upside potential of 62% based on the maximum value, and nearly 50% upside potential based on the average value, indicating promising prospects for future development.
High Emphasis on Shareholder Returns: Post-Merger Share Price Upside Potential is Promising
In the capital markets, the path for expressway enterprises to list directly on the A-share market has been full of challenges. The last expressway company to directly list on the A-share market dates back to 2009, and there have been few successful cases in the following years. Chengdu Expressway terminated its A-share listing application at the end of 2024, an event that further highlights the challenges faced by expressway companies in pursuing A-share listings.
According to analysis of investment professionals, under the current market environment and regulatory policies, achieving an A-share listing through absorption and merger has become the only viable path for expressway companies. Zhejiang Expressway’s proposed absorption and merger with Oceanking Development reflects this industry trend, actively exploring a development path suitable for itself while also providing a new paradigm for capital operations within the sector.
From a dividend perspective, Zhejiang Expressway has consistently attached great importance to shareholder returns and adheres to a long-term and steady dividend policy. Since its listing in 1997, the Company has distributed cumulative dividends totaling RMB 28.46 billion, equivalent to 7.78 times the total proceeds raised in its IPO. It is anticipated that upon completion of the absorption and merger, Zhejiang Expressway’s dividend attractiveness will be further enhanced.
In the latest released draft plan, Zhejiang Expressway has explicitly committed to strictly formulating a scientific and reasonable shareholder dividend arrangement in accordance with the Company Law, Securities Law, and the relevant provisions of the articles of association of the Company. For the three years following the completion of this transaction (including the year of completion), and subject to compliance with relevant laws, regulations, and regulatory rules regarding cash dividends, the surviving company will distribute annual profits in cash of no less than RMB 0.41 per share (including both A-shares and H-shares). This commitment fully reflects the Company’s strong emphasis on shareholder interests as well as its firm confidence in future development.
From the perspective of the key indicator of dividend yield, as of September 3, 2025, Zhejiang Expressway’s dividend yield reached approximately 6%. The relatively high dividend yield not only provides investors with considerable returns but also injects strong confidence and momentum into the Company’s future development.
Post-Merger Focus on Core Business with Broader Growth Potential
In terms of business layout, Zhejiang Expressway has, in recent years, leveraged its long-standing expertise in expressway operations to successfully build a diversified business portfolio. The proposed absorption and merger with Oceanking Development reflects the Company’s accurate assessment of market trends and careful consideration of its development strategy. Upon completion of the merger, the Company will continue to focus on its core business, optimize resource allocation, and maximize efficiency, thereby unlocking broader growth potential.
In terms of strategic layout, Zhejiang Expressway, leveraging its acute market insight, will inject eligible expressway assets in a timely manner based on market dynamics and corporate development needs. Recently, Shangsan Co received a total capital injection of RMB 6 billion from Communications Group, China Merchants Expressway, Tiantai State Capital, and Shangyu Transportation, of which RMB 4.4175 billion was contributed by its controlling shareholder, Communications Group. Upon completion of the capital increase, Zhejiang Expressway’s shareholding in Shangsan Co will be reduced to 61.25%, thereby indirectly lowering the proportion of its securities business. This move will significantly enhance the Company’s overall strength and financial stability, while also underscoring the effectiveness of its strategy to focus on its core expressway business.
Overall, as a leading enterprise in the expressway industry, Zhejiang Expressway will, upon completion of the restructuring, establish an “A+H” dual-capital platform. This will place the Company in a favorable position comparable to its peers, supporting long-term development and aligning with shareholder interests. The higher valuation level of the A-share market will enable more efficient financing, thereby creating greater value for all shareholders. Meanwhile, following the major shareholder’s return to the A-share market, its holdings will be converted into tradable shares, providing a more direct driver for market capitalization growth and aligning closely with the interests of minority shareholders to form a strong community of shared interests. With its outstanding strategic layout and strong growth potential, Zhejiang Expressway is poised to seize future opportunities, and its development prospects are highly promising.
Euro Manganese Inc. (TSXV: EMN) (ASX: EMN) (FSE: E060) (the “Company” or “EMN”) is pleased to announce that shareholders have voted in favour of all matters of business brought before them at the Company’s Annual General & Special Meeting of Shareholders (the “Meeting”) held on May 15, 2025. Detailed results of the voting from the Meeting are set out below.
In addition, the Company announces an upcoming change to its Chief Financial Officer effective at the end of the month. See below for details.
In respect of Resolution 1, election of the Company’s directors, all five management nominees standing for election were elected as set out below based on a vote conducted by ballot:
Nominee
Total Votes Cast
Votes For
% For
Votes Withheld (Abstained)
% Withheld (Abstained)
John Webster
35,504,229
30,473,634
85.83
5,030,595
14.17
David B. Dreisinger
35,504,229
30,289,601
85.31
5,214,628
14.69
Thomas M. Stepien
35,504,229
30,298,601
85.34
5,205,628
14.66
Ludivine Wouters
35,504,229
33,904,004
95.49
1,600,225
4.51
Rick Anthon
35,618,229
33,735,888
94.72
1,882,341
5.28
The following matters of business at the Meeting, which were also carried out and decided by ballot, were approved:
Total Votes
Votes For
% For
Votes Against
% Against
Votes Withheld /Abstained
Resolution 2 – Appointment of Pricewaterhouse- Coopers LLP as Auditors of the Company
35,645,599
31,760,224
89.10
N/A
N/A
3,885,375
Resolution 3 – Re-approval of the Company’s Stock Option Plan(1)
35,504,229
32,389,657
91.23
2,963,702
8.35
150,870
(1) In accordance with the rules of the Australian Securities Exchange (the “ASX“), shareholders of the Company also approved the Company’s stock option plan by a majority of the votes cast, with the 455,661 votes cast by directors of the Company excluded and reclassified as withheld/abstain. Based on this exclusion and reclassification, the total number of votes cast in respect of this resolution was 35,504,229, of which 31,933,996 votes were cast for the resolution, representing 89.94% of the total votes cast, 2,963,702 votes were cast against the resolution, representing 8.35% of the total votes cast, and 606,531 votes were withheld/abstain, representing 1.71% of the total votes cast.
Additionally, for purposes of the ASX, shareholders of the Company also approved each of the following resolutions:
a) for the purpose of Listing Rule 7.1 of the ASX, the issuance of 21,400,000 Units comprising of 21,400,000 Shares and 21,400,000 Warrants to the European Bank for Reconstruction and Development (the “EBRD“) and the issuance of up to 18,063,331 Units comprising of 18,063,331 Shares and 18,063,331 Warrants, and 14,650,278 Units comprising of 14,650,278 CHESS Depositary Interests (“CDIs“) each representing one Share and 14,650,278 Warrants to sophisticated and professional investors, respectively, (the “Offering“);
b) for the purpose of Listing Rules 10.11.1 and 10.11.4 of the ASX, the issuance to the following individuals of Units under the Offering on terms and conditions identical to all other subscribers under the Offering:
(i) 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to JJW Investments Ltd., a company controlled by Mr. John Webster;
(ii) 41,666 Units, comprising of 41,666 Shares and 41,666 Warrants, to Dr. David B. Dreisinger.
(iii) 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to Mr. Thomas M. Stepien.
(iv) 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to Ms. Ludivine Wouters; and
(v) 256,410 Units, comprising of 256,410 CDIs and 256,410 Warrants, to Mr. Rick Anthon;
c) for the purpose of Listing Rule 7.1 of the ASX, the issuance of 4,904,478 broker warrants (the “Broker Warrants“) to Canaccord Genuity (Australia) Limited (“Canaccord“) and Foster Stockbroking Pty Ltd. (“FSB“), in connection with their remuneration for acting as co-lead managers of the Offering;
d) for the purpose of Listing Rule 7.1 of the ASX, the issuance of 7,692,307 CDIs and 7,692,307 Warrants to Eligible Shareholders under the Share Purchase Plan (“SPP“) on the terms and conditions described in the prospectus issued to Eligible Shareholders; and
e) for the purpose of Listing Rule 7.1 of the ASX, the issuance of 22,263,733 Orion Warrants to OMRF (BK) LLC (“Orion“) as compensation for certain amendments to the Convertible Loan and Royalty Agreement.
In accordance with Listing Rule 3.13.2(d) of the ASX, detailed results of the voting from the Meeting, on the resolutions outlined above, all of which were carried out and decided by ballot, are set out below.
Total Votes
Votes For
% For
Votes Against
% Against
Votes Withheld /Abstained
Resolution 4(a) – Issuance of 54,113,609 Units comprising 39,463,331 Shares and 14,650,278 CDIs and 54,113,609 Warrants to Non-Related Party Investors and the EBRD
35,504,229
27,456,337
77.33%
1,228,296
3.46%
6,819,596
Resolution 4(b)(i) – Issuance of 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to JJW Investments Ltd.
35,504,229
33,171,670
93.43
1,235,052
3.48
1,097,507
Resolution 4(b)(ii) – Issuance of 41,666 Units, comprising of 41,666 Shares and 41,666 Warrants, to Dr. David B. Dreisinger
35,504,229
33,187,967
93.48
1,235,052
3.48
1,081,210
Resolution 4(b)(iii) – Issuance of 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to Mr. Thomas M. Stepien
35,504,229
33,407,649
94.09
1,235,052
3.48%
861,528
Resolution 4(b)(iv) – Issuance of 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to Ms. Ludivine Wouters
35,504,229
33,196,678
93.50
1,234,188
3.48
1,073,363
Resolution 4(b)(v) – Issuance of 256,410 Units, comprising of 256,410 CDIs and 256,410 Warrants, to Mr. Rick Anthon
35,504,229
33,469,602
94.27%
1,234,188
3.48
800,439
Resolution 4(c) – the issuance of 4,904,478 Broker Warrants to Canaccord and FSB
35,504,229
30,898,394
87.03%
1,163,498
3.28%
3,442,337
Resolution 4(d) – the issuance of 7,692,307 CDIs and 7,692,307 Warrants to Eligible Shareholders under the SPP
35,504,229
33,324,730
93.86%
906,086
2.55%
1,273,413
Resolution 5 – the issuance of 22,263,733 Orion Warrants to Orion
35,504,229
33,362,546
93.97%
1,184,924
3.34%
956,759
The Company disregarded the following votes, from the applicable resolutions, as required by Listing Rule 14.11 of the ASX:
a) votes cast by the EBRD or any person (or any associates of such person) who is expected to participate in, or who will obtain a material benefit as a result of, the proposed issuance of Shares or CDIs under the Offering (except a benefit solely by reason of being a holder of ordinary shares in the Company) from Resolution 4(a);
b) votes cast by any person (or any associates of such person) who is expected to participate in, or who will obtain a material benefit as a result of, the proposed issuance of securities under the Offering (except a benefit solely by reason of being a holder of ordinary shares in the Company) from Resolutions 4(b)(i), 4(b)(ii), 4(b)(iii), 4(b)(iv);4(b)(v) and 4(c);
c) votes cast by Canaccord and FSB (or any associates of Canaccord and FSB) who will be receiving Broker Warrants (except a benefit solely by reason of being a holder of ordinary shares in the Company) from Resolution 4(c);
d) votes cast by any person (or any associates of such person) who is expected to participate in, or who will obtain a material benefit as a result of, the proposed issuance of securities under the SPP (except a benefit solely by reason of being a holder of ordinary shares in the Company) from Resolution 4(d); and
e) votes cast by Orion (or any associates of Orion) or any person (or any associates of such person) who will be receiving Orion Warrants (except a benefit solely by reason of being a holder of ordinary shares in the Company) from Resolution 5.
Accordingly, the following voting exclusions applied to each of the resolutions below as required by the rules of the ASX:
Resolution 4(a): Total votes for Resolution 4(a) exclude 6,527,532 votes cast by parties participating in the Offering, including the EBRD and the directors. The excluded votes are reclassified to votes withheld/abstain, resulting in no change to the total Shares being voted in connection with Resolution 4(a).
Resolution 4(b)(i): Total votes for Resolution 4(b)(i) exclude 235,979 votes cast by John Webster (and entities controlled by him, including JJW Investments Ltd.) who subscribed for Units in the Offering. The excluded votes are reclassified to votes withheld/abstain, resulting in no change to the total Shares being voted in connection with Resolution 4(b)(i).
Resolution 4(b)(ii): Total votes for Resolution 4(b)(ii) exclude 219,682 votes cast by David Dreisinger (and entities controlled by him) who subscribed for Units in the Offering. The excluded votes are reclassified to votes withheld/abstain, resulting in no change to the total Shares being voted in connection with Resolution 4(b)(ii).
Resolution 4(b)(iii): Total votes for Resolution 4(b)(iii) exclude nil votes cast by Thomas Stepien (and entities controlled by him) who subscribed for Units in the Offering.
Resolution 4(b)(iv): Total votes for Resolution 4(b)(iv) exclude nil votes cast by Ludivine Wouters (and entities controlled by her) who subscribed for Units in the Offering.
Resolution 4(b)(v): Total votes for Resolution 4(b)(v) exclude nil votes cast by Rick Anthon (and entities controlled by him) who subscribed for Units in the Offering.
Resolution 4(c): Total votes for Resolution 4(c) exclude 2,390,000 votes cast by Canaccord and FSB, or their associates, which are to be issued Broker Warrants. The excluded votes are reclassified to votes withheld/abstain, resulting in no change to the total Shares being voted in connection with Resolution 4(c).
Resolution 4(d): Total votes for Resolution 4(d) exclude 468,854 votes cast by parties participating in the SPP. The excluded votes are reclassified to votes withheld/abstain, resulting in no change to the total Shares being voted in connection with Resolution 4(d).
Resolution 5: Total votes for Resolution 5 exclude nil votes cast by Orion which is to be issued Orion Warrants.
A total of 35,504,229 common shares, representing approximately 44.09% of the issued and outstanding common shares of the Company eligible to vote at the Meeting, were voted in connection with all of the above resolutions, except for the following: (a) the election of the Mr. Rick Anthon as a director of the Company, for which 35,618,229 common shares, representing approximately 44.23% of the issued and outstanding common shares of the Company eligible to vote at the Meeting were voted; and (b) resolution 2, the appointment of PricewaterhouseCoopers LLP as Auditors of the Company, for which 35,645,599 common shares, representing approximately 44.26% of the issued and outstanding common shares of the Company eligible to vote at the Meeting were voted. The results of all matters considered at the Meeting are reported in the Report of Voting Results as filed by the Company on SEDAR at www.sedarplus.ca.
In accordance with ASX Listing Rule 3.13.2(e), the information below is being provided for the aggregate number of securities for which valid proxies were received before the Meeting. None of the Company appointed proxy holders were able to vote on any of the resolutions in their discretion.
Nominee
Total Proxies Received
Proxy directed to vote For
Proxy directed to vote Against
Proxy directed to Abstain
Proxy could vote at their discretion
Resolution 1 – Election of directors:
John Webster
35,504,229
30,473,634
N/A
5,030,595
Nil
David B. Dreisinger
35,504,229
30,289,601
N/A
5,214,628
Nil
Thomas M. Stepien
35,504,229
30,298,601
N/A
5,205,628
Nil
Ludivine Wouters
35,504,229
33,904,004
N/A
1,600,225
Nil
Rick Anthon
35,618,229
33,735,888
N/A
1,882,341
Nil
Resolution 2 – Appointment of Pricewaterhouse- Coopers LLP as Auditors of the Company
35,645,599
31,760,224
N/A
3,885,375
Nil
Resolution 3 – Re-approval of the Company’s Stock Option Plan (1)
35,504,229
31,933,996
2,963,702
606,531
Nil
Resolution 4(a) – Issuance of 54,113,609 Units comprising 39,463,331 Shares and 14,650,278 CDIs and 54,113,609 Warrants to Non-Related Party Investors and the EBRD(2)
35,504,229
27,456,337
1,228,296
6,819,596
Nil
Resolution 4(b)(i) – Issuance of 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to JJW Investments Ltd. (3)
35,504,229
33,171,670
1,235,052
1,097,507
Nil
Resolution 4(b)(ii) – Issuance of 41,666 Units, comprising of 41,666 Shares and 41,666 Warrants, to Dr. David B. Dreisinger(4)
35,504,229
33,187,967
1,235,052
1,081,210
Nil
Resolution 4(b)(iii) – Issuance of 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to Mr. Thomas M. Stepien
35,504,229
33,407,649
1,235,052
861,528
Nil
Resolution 4(b)(iv) – Issuance of 55,555 Units, comprising of 55,555 Shares and 55,555 Warrants, to Ms. Ludivine Wouters
35,504,229
33,196,678
1,234,188
1,073,363
Nil
Resolution 4(b)(v) – Issuance of 256,410 Units, comprising of 256,410 CDIs and 256,410 Warrants, to Mr. Rick Anthon
35,504,229
33,469,602
1,234,188
800,439
Nil
Resolution 4(c) – the issuance of 4,904,478 Broker Warrants to Canaccord and FSB(5)
35,504,229
30,898,394
1,163,498
3,442,337
Nil
Resolution 4(d) – the issuance of 7,692,307 CDIs and 7,692,307 Warrants to Eligible Shareholders under the SPP(6)
35,504,229
33,324,730
906,086
1,273,413
Nil
Resolution 5 – the issuance of 22,263,733 Orion Warrants to Orion
35,504,229
33,362,546
1,184,924
956,759
Nil
(1) Excludes 455,661 votes cast by proxy by directors of the Company, which were reclassified as withheld/abstain. (2) Excludes 6,527,532 votes cast by proxy by the EBRD, directors and other subscribers in the Offering, which were reclassified as withheld/abstain. (3) Excludes 235,979 votes cast by proxy by John Webster and companies controlled by him (including JJW Investments Ltd.), which were reclassified as withheld/abstain. (4) Excludes 219,682 votes cast by proxy by David Dreisinger and companies controlled by him, which were reclassified as withheld/abstain. (5) Excludes 2,390,000 votes cast by proxy by Canaccord and FSB or their associates, which were reclassified as withheld/abstain. (6) Excludes 468,854 votes cast by proxy by subscribers to the SPP, which were reclassified as withheld/abstain.
Change in Chief Financial Officer
The Company also announces that Dean Larocque will step down as Chief Financial Officer effective May 30, 2025. The Company would like to thank Dean for his efforts since joining the Company in November 2024 and wish him well in his future endeavours. The Company expects to announce the appointment of its new Chief Financial Officer in the coming weeks.
About Euro Manganese
Euro Manganese is a battery materials company focused on becoming a leading producer of high-purity manganese for the electric vehicle industry. The Company is advancing development of the Chvaletice Manganese Project in the Czech Republic and an early-stage opportunity to produce battery-grade manganese products in Bécancour, Québec.
The Chvaletice Project is a unique waste-to-value recycling and remediation opportunity involving reprocessing old tailings from a decommissioned mine. It is also the only sizable resource of manganese in the European Union, strategically positioning the Company to provide battery supply chains with critical raw materials to support the global shift to a circular, low-carbon economy.
Euro Manganese is dual-listed on the TSXV and the ASX.
Authorized for release by the President and CEO of Euro Manganese Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the ASX accepts responsibility for the adequacy or accuracy of this release.
Inquiries
Martina Blahova President and CEO +1-604-681-1010 ext. 101 Website: www.mn25.ca
Jane Morgan Management Jane Morgan Investor and Media Relations – Australia +61 (0) 405 555 618 jm@janemorganmanagement.com.au
Company Address: #709 -700 West Pender St., Vancouver, British Columbia, Canada, V6C 1G8
Forward-Looking Statements
Certain statements in this news release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company, its Chvaletice Project, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company.
Forward-looking statements include statements regarding replacing the Chief Financial Officer and any expected outcome and ability to navigate current market conditions. All forward-looking statements are made based on the Company’s current beliefs including various assumptions made by the Company, including that the Chvaletice Project will be developed and operate as planned, the Company will obtain sufficient financing, and that the Company will be able to meet the conditions of its secured financing. Factors that could cause actual results or events to differ materially from current expectations include, among other things: insufficient working capital; inability to meet the conditions of its secured financing, risks due to granting security, lack of availability of financing for developing and advancing the Chvaletice Project; the potential for unknown or unexpected events to cause contractual conditions to not be satisfied; developments in EV (Electric Vehicles) battery markets and chemistries; risks related to fluctuations in currency exchange rates; and regulation and changes in laws by various governmental agencies. For a further discussion of risks relevant to the Company, see “Risk Factors” in the Company’s annual information form for the year ended September 30, 2024, available on the Company’s SEDAR+ profile at www.sedarplus.ca.
Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
On 6 May 2025, CALBGroup Co., Ltd. (CALB or the Company, HKG: 3931) announced that it intends to acquire 11% of the shares of A-share listed company Jiangsu Olive Sensors High-tech Corporation Limited (Jiangsu Olive Sensors, stock code: 300507.SZ) through the Share Transfer Agreement. Since the Jiangsu Olive Sensors’ original actual controller gives up majority of the voting rights, CALB will become the controlling shareholder and actual controller of Jiangsu Olive Sensors. The re-elected board of directors of Jiangsu Olive Sensors will consist of five directors, all of whom shall be nominated by CALB. In addition, Jiangsu Olive Sensors intends to private place its 15% shares to CALB, after these shares issuing, CALB’s shareholding and voting rights will increase to 22.61%.
This transaction highlights expectations of the original actual controller of Jiangsu Olive Sensors for the strategic entry of CALB. Moreover, through the deep empowerment of CALB, Jiangsu Olive Sensors will be deeply integrated into the new energy industry chain, anchored in a broader market and sustained performance growth, and achieve a dual enhancement of performance and valuation in the wave of new energy development and revolution. Leveraging its global market presence and chain-leading position in the new energy sector, CALB will provide Jiangsu Olive Sensors with comprehensive, multi-scenario empowerment, further promoting Jiangsu Olive Sensors’ future development across the upstream and downstream industrial chain.
This transaction is one of the limited cases that H-share listed company acquires A-share listed company since the introduction of the “Six Articles on M&A”. It will become another benchmark case for M&A and restructuring to enliven the capital market and promote industrial upgrading. In April 2024, State Council of China issued “Nine New Guidelines” for capital market, which clearly indicated that it would intensify the reform of M&A and take measures to activate the market of M&A and restructuring. In September 2024, China Securities Regulatory Commission issued the New Measures Aimed at Guiding Mergers and Acquisitions among Listed Companies, which further pointed out that it supports listed companies to transform and upgrade themselves in the new qualitative productivity and encourages listed companies to strengthen industrial integration.
In the background of M&A and restructuring wave continues to promote, CALB’s acquisition of holding Jiangsu Olive Sensors is a positive response to the national strategy but also plays a strategic practice of the “chain leader” role leading the new energy industry chain. This transaction will help to achieve the strong combination of the two companies and together to promote the high-quality development of the new energy industry through the two companies’ synergistic empowerment in many areas. Industry insiders pointed out that industrial upgrading and efficiency improvement due to M&A and integration is expected to result in a valuation premium, and industry chain leaders will have more opportunities for valuation reshaping.
In fact, CALB and the target company Jiangsu Olive Sensors are both in the automotive industry chain and are the leading enterprises in their respective segments. CALB is the first EV battery company listed on the Hong Kong Stock Exchange. As a globally influential battery specialist, its passenger vehicle clients have covered major domestic and international automakers, including XPeng, Geely, Changan, GAC, Leapmotor, Toyota, Honda, Volkswagen, Audi. In the commercial vehicle sector, its key clients have encompassed leading enterprises across the light and heavy commercial vehicle fields such as Chery, Geely, Ruichi, Foton, Dongfeng, Sinotruk, XCMG, SANY, and Shaanxi Automobile. In the field of energy storage sector, CALB has established cooperative relationship with the “Five Leading and Six Major” power groups, and has achieved strategic cooperation with many leading enterprises such as Sungrow Power, SPIC, CNN Rich Energy and China Energy Construction, etc. In 2024, CALB’s installed capacity of EV batterie ranked fourth globally and the third domestically, and its energy storage cell shipments also ranked fifth globally, building a closed loop of the new energy industry ecosystem with a diversified layout covering all scenarios such as passenger vehicles, commercial vehicles, energy storage, ships, and eVTOL.
For CALB, this acquisition will also further enhance the Company’s value. It is reported that Jiangsu Olive Sensors, the target of this acquisition, is one of the leading domestic automotive sensor companies. The company has more than 30 years of professional experience in the industry. Since 2022, its revenue growth has continued to grow at double digits, and its business transformation has shown results. In recent years, with the rapid innovation of the automotive industry, new energy and intelligence have entered the critical phase, and Jiangsu Olive Sensors has also taken the initiative to transform and upgrade to the field of new energy vehicle parts. From an industry perspective, the sensors and thermal management systems it focuses on have important application space in the fields of battery intelligence and battery safety. Against this background, CALB will give full play to its resources and advantages in the new energy industry chain through M&A, empowering the business development of Jiangsu Olive Sensors and further enhancing the corporate value of both parties.
Overall, CALB’s strategic deployment will leverage its resources and advantages across the new energy and automotive industry chains. This will enable it to empower high-potential targets with technological expertise, unlock the growth potential of Jiangsu Olive Sensors, and establish a development model where chain-leading enterprises drive innovation in specialized and sophisticated enterprises that produce new and unique products—ultimately accelerating industrial upgrading. Moving forward, the two parties are expected to foster more extensive and in-depth cooperation, creating synergies in industrial chain coordination and market expansion, thereby enhancing comprehensive competitiveness in new energy and smart technologies, enabling mutual growth and stronger market positions for win-win development. On a strategic level, CALB’s acquisition of Jiangsu Olive Sensors may reflect longer-term and more profound strategic considerations.
About CALB CALB is a new energy enterprise specializing in the research, production, sales, and market application development of lithium batteries, battery management systems, and related integrated products and lithium battery materials. As Battery Expert, we aim to build a comprehensive energy operation system, to provide complete product solutions and full life-cycle management for the new energy application market, represented by power and energy storage.
Currently, CALB has completed an all-round layout in domestic by setting up industrial bases in Changzhou, Xiamen, Wuhan, Chengdu, Hefei, Jiangmen and Meishan. Meanwhile, CALB has set up bases in Europe and ASEAN, vigorously expanding the layout all over the world to become a global leading enterprise with large-scale intelligent manufacturing capabilities.
