PM Edition: Top 10 Business Articles on LiveNews.co.nz for August 21, 2026 – Full Text

Firmly Implementing the “Single Brand, Multi-categories, Diversified Channels” Strategy; Super BOOM Capsule Technology Achieves Full Commercialization; Deepens Global Professional Sports Resources Together with Curry

FINANCIAL HIGHLIGHTS

• In the first half of the year, the Group recorded the following operating results:
  • Revenue rose by 2.8% to RMB15,235 million; gross profit margin increased by 0.9 percentage points to 50.9%
  • Net operating cash inflow was RMB954 million
  • Net profit attributable to equity holders was RMB1,816 million with net profit margin of 11.9%, and EBITDA margin was 22.1%
• Working capital remained at a healthy level:
  • The percentage of gross average working capital to revenue was 7.8%
  • The cash conversion cycle was 35 days, an increase of 4 days compared with the same period last year
• The Board resolved to declare an interim dividend of RMB35.12 cents per ordinary share of the Company issued or to be issued upon conversion of convertible securities for the six months ended 30 June 2026.

OPERATIONAL HIGHLIGHTS

• The retail sell-through for the overall platform increased by low-single-digit from last year, including online and offline channels.
• Offline channel new products sell-through accounted for 83% of overall offline channel sell-through, maintaining a healthy and reasonable level.
• Channel inventory-to-sales ratio of 4 months; and inventory level and ageing structure remained at a healthy level.

HONG KONG SAR – Media OutReach Newswire – 20 August 2026 – Li Ning Company Limited (“Li Ning” or the “Company”, together with its subsidiaries, collectively the “Group”; Hong Kong Stock Exchange stock codes: 2331 (HKD counter) and 82331 (RMB counter)) today announced the unaudited interim results of the Group for the six months ended 30 June 2026 (the “Reporting Period”).

FINANCIAL RESULTS

In the first half of 2026, the Group continued to enhance product technology performance, optimise channel efficiency and deepen its professional brand mindset, maintaining steady operations. During the period, the Group’s revenue reached RMB15,235 million, up 2.8% year-on-year (2025: RMB14,817 million). Gross profit was RMB7,751 million, up 4.5% year-on-year (2025: RMB7,415 million), and the Group’s overall gross profit margin was 50.9%, up 0.9 percentage points year-on-year (2025: 50.0%).

During the period, profit attributable to equity holders of the Group was RMB1,816 million (2025: RMB1,737 million); the margin of profit attributable to equity holders was 11.9% (2025: 11.7%); and return on equity attributable to equity holders was 6.5% (2025: 6.5%). Basic earnings per share were RMB70.40 cents (2025: RMB67.43 cents). The Board resolved to declare an interim dividend of RMB35.12 cents per ordinary share of the Company issued or to be issued upon conversion of convertible securities for the six months ended 30 June 2026 (2025: RMB33.59 cents).

In terms of cash flow management, net cash generated from operating activities during the period amounted to RMB954 million (2025: RMB2,411 million). As at 30 June 2026, cash and cash equivalents (including cash at banks and in hand, and fixed term deposits with original maturity of not more than three months) amounted to RMB13,003 million, a decrease of RMB3,713 million compared with 31 December 2025. Adding back amounts recorded in bank time deposits, the cash balance was RMB19,389 million, a net decrease of RMB585 million compared with 31 December 2025. During the period, revenue increased year-on-year while cash expenses such as marketing expenses and taxes increased, resulting in a year-on-year decrease in net cash generated from operating activities; an increase in time deposits led to a significant increase in net cash used in investing activities. The Group will continue to prioritise cash flow management to ensure the stable development of the Company in the long term.

BUSINESS OVERVIEW

In the first half of 2026, the Group firmly implemented its core development strategy of “Single Brand, Multi-categories, Diversified Channels”. On one hand, it continuously strengthened the core of professional sports technology and product performance, consolidating the brand’s professional mindset in niche segments; on the other hand, it continuously deepened its highly efficient operating model, maintaining solid operating fundamentals and a healthy inventory level.

In terms of product upgrades, the Group drove iterative upgrades in the performance of its core category products through technological innovation, and coordinated the synergistic development of the core categories of running, basketball, training, badminton, table tennis and sports casual. The Group launched its “Super BOOM Capsule” technology, applied to racing running shoe series such as Feidian and Red Hare, covering the full-scenario needs of competitive training, elite and mass runners; the LI-NING Aerospace Dynamic Thermal Technology was applied to the award equipment of the Chinese Sports Delegation at the 2026 Milan Winter Olympics. The Group also expanded its outdoor product matrix and accelerated its layout in the outdoor market.

In terms of brand communication, the Group focused on building an all-round sports resource system represented by its cooperation with the Chinese Olympic Committee (the “COC”) and top international athlete IPs. During the period, the Group continued to strengthen its strategic partnership with the Chinese Olympic Committee, developing podium wear for the Chinese sports delegation competing at the 2026 Milan Winter Olympics, and establishing a presence at the “China House” in Milan, working alongside the Chinese Olympic Committee to showcase the strength of Chinese sports. In addition, the Group entered into a long-term strategic partnership with NBA superstar Stephen Curry and his brand “Curry Brand”, cooperating on the research and development of professional basketball equipment, the promotion of event culture, and the expansion of new-generation consumer groups, enhancing LI-NING’s professional sports brand perception and international exposure.

In terms of channels, the Group continued to deepen strategic synergy with leading commercial complexes and orderly carried out the planning and roll-out of innovative store formats. During the period, the standalone outdoor store “COUNTERFLOW” officially opened in Chongqing, laying the foundation for the Group’s outdoor category to deepen its presence in the Southwest regional market; the Group’s cooperation with quality commercial resources also entered a new stage, creating favourable conditions for the concentrated opening of multiple “Loong Stores” in the second half of the year. At the same time, the Group continued to optimise its rental structures and commercial cooperation models, enhancing the overall operating health of its channels.

In terms of retail operations, the Group promoted dual-driven growth in products and brand by establishing a high-tier market operating model and a distribution business operating model. In high-tier markets, the Group strengthened its brand image around three dimensions, namely channel structure optimisation, refinement of store product mix and upgrading the shopping experience, driving incremental capture of brand elevation and category depth. In terms of distribution business, the Group concurrently established a distribution management model to enhance distribution efficiency and the sustainable operating capability of the channel. In terms of terminal operating capability, the Group continued to drive the implementation of retail standards on a project basis, strengthened coordination efficiency between headquarters and terminals, and enhanced sports advisors’ customer reception capability and professional service standards, comprehensively improving consumers’ shopping experience in LI-NING stores and laying the foundation for enhanced single-store operating efficiency.

In terms of e-commerce operations, the Group leveraged key promotional opportunities including Tmall Celebration Day, Goddess Festival and 618 to precisely target new-customer acquisition and deeply reach female consumer groups, effectively driving simultaneous growth in sales scale and brand influence. The Group also converted cutting-edge technology into quality product experiences, coordinated Olympic champions and celebrity spokesperson resources, and worked with fashion magazines, trend events and social media platforms to continuously consolidate its professional sports mindset. Flagship products including basketball shoes Gamma 2, LI REN 6V2 and DLO 2, as well as the running shoe matrix of Wushi, Youzhi and Zhui Feng, all achieved notable results in expanding awareness and increasing sales, while the Feeling family remained ranked first in searches in the thin-soled shoe segment.

In terms of new retail business, the Group established a new retail department to focus on mapping out its omni-channel growth business model. Through the O2O model, it connected online and offline merchandise pools, providing consumers with a more consistent and efficient shopping experience. The Group also accelerated its layout on mainstream instant-retail platforms, making concerted efforts across three areas: channel store expansion, merchandise matching and refined single-store operations. On the one hand, it fully leveraged the Group’s multi-category advantages, expanding product coverage on the basis of core categories such as running shoes, basketball shoes and lifestyle apparel in combination with sports and lifestyle scenario needs; on the other hand, it strengthened the supply of seasonal categories such as outdoor and sun protection around consumption nodes such as holiday travel, driving stable growth in sales scale for the instant-retail channel.

In terms of product management, to respond to market competition, the Group increased its technology investment in high-end professional running shoes, leveraging the “Feidian” family driven by “Super BOOM Capsule” technology and the brand-new “Red Hare ULTRA” series to consolidate the brand’s product mindset and market position among professional runners. While the basketball shoe market faced challenges, the Group relied on core signature models combined with an e-commerce-channel-led promotion strategy to keep basketball shoe sales stable across directly-operated and e-commerce channels. The Group also actively applied flexible supply models such as segmented production and rolling replenishment orders, dynamically adjusting order scale according to actual sales and, in particular, carrying out refined control of the inventory structure for the running shoe category, maintaining healthy inventory levels amid a challenging market environment.

In terms of supply chain and logistics, the Group continued to advance the building of a large supply-chain system across five directions: planning management, quality control, cost management, development management and digital-intelligence transformation. The Group actively advanced the development of its Glory Gold Label series to safeguard the supply of top-tier event equipment, while also promoting the implementation of AI and 3DVR design and development processes for footwear, substantially shortening the R&D cycle. On the logistics front, the Group advanced omni-channel logistics integration, connecting online and offline inventory, and continued to drive warehouse automation and the application of RFID technology, improving the efficiency of goods flow and the precision of inventory management.

OUTLOOK

Looking ahead to the second half of 2026, the Group will continue to seize the development opportunities arising from the ongoing release of domestic demand potential, uphold its core value of ” Serve With Sportsmanship “, continuously refine the “LI-NING’s experience value”, and strive to become the preferred professional sports brand trusted by consumers in the sports consumption sector.

1. Technology-driven product upgrades: The Group will continue to adhere to technological innovation as its core driving force, strengthening the core competitiveness of its products through the three major levers of its technology innovation platform, a full-scenario category matrix and Eastern aesthetics, while reinforcing its layout in high-potential tracks such as professional sports and urban outdoor.
2. Top-tier resources empowering the brand: The Group will coordinate its domestic and overseas marketing resources. By leveraging core resource deployments such as its partnership with the Chinese Olympic Committee and collaborations with superstar IPs, the Group will build a multi-dimensional, long-term and high-conversion communication system. The Group will continue to deepen its long-term cooperation with the Chinese Olympic Committee, supporting the Chinese sports delegation as it competes in international events such as the 2026 Asian Games, and will deepen its strategic cooperation with Stephen Curry and “Curry Brand”.
3. Elevating both the quality and efficiency of business operations: The Group will focus on the three core pillars of channel layout, merchandise systems and supply chain integration, accelerating online-offline integration, prioritising the scalable replication of innovative store formats such as “Loong Store”, and building a flexible supply chain system that is high-efficiency, low-cost and fast-response.
4. Strengthening the foundation to safeguard development: The Group will reinforce its operating foundation across talent, finance and digital intelligence, building out its talent pipeline, maintaining ample cash flow and a rigorous risk control mechanism, and advancing the deep penetration of artificial intelligence and digital technologies across the full scenarios of R&D, production and channels.

Mr. Li Ning, Executive Chairman and Joint Chief Executive Officer of the Group, commented,“The year 2026 marks the opening year of the ’15th Five-Year Plan’. Although the external trade landscape was complex and volatile in the first half of the year and structural divergence in the domestic consumer market persisted, consumption in functional niche segments such as professional sports and urban outdoor remained resilient, supported by a series of national policies to expand domestic demand and promote consumption. Facing a challenging external environment, the Group firmly implemented its core development strategy of ‘Single Brand, Multi-categories, Diversified Channels’, achieving steady growth in both revenue and profit while maintaining healthy inventory and working capital levels, a clear demonstration of the resilience of the Group’s operating fundamentals.

Looking ahead to the second half of the year, we will stay rooted locally while looking to the future, seizing the structural opportunities brought by the ’15th Five-Year Plan’ policies to expand domestic demand and build a leading sports nation, advancing the scalable replication of innovative store formats such as ‘Loong Store’, deepening the dual drivers of technological innovation and top-tier sports resources, so as to deliver higher-quality and more sustainable steady operations in return for the long-term trust of our consumers and shareholders.”

Hashtag: #LiNing

Mr Munafò joined Allianz Trade in 2015 as part of the Multinationals team and has spent over a decade shaping the company’s commercial strategy across four regions. Rising through key account management roles spanning MMEA, APAC, and Northern Europe – including his appointment as Regional Account Director for Northern Europe in 2021 – he was named Group Head of Broker Management and Partnerships in 2025, where he was responsible for defining and executing Allianz Trade’s global commercial and distribution strategy and strengthening broker partnerships across multiple regions. Mr Munafò holds an MBA from POLIMI Graduate School of Management (Politecnico di Milano) and a degree in Law from Università Bocconi with a major in Public Sector and Law.

On this appointment, Rodrigo Jimenez, Regional CEO at Allianz Trade in Asia Pacific, says: “Over the past decade, Scott has built extensive experience across various regions, demonstrating a strong track record in growing commercial portfolios, building strategic partnerships, and maintaining exceptional customer retention. His international experience, commercial leadership, and deep understanding of our business make him exceptionally well positioned to lead our China operations. I am confident that, together with the local management team, Scott will successfully drive our growth ambitions and deliver continued success in this important and fast-growing market.”

Mr Munafò remarks: “Allianz Trade has been part of China’s trade story for nearly two decades – built on the strength of our team, our partners, and our customers who have trusted us through every cycle. I am honoured to be entrusted with what so many have built together. My commitment is simple: to keep listening, to keep creating lasting value and to ensure the next chapter sets a new standard.”
https://www.allianz-trade.com/en_HK.html
https://www.linkedin.com/company/allianz-trade-apac/

Hashtag: #allianztrade #tradecreditinsurance

About Allianz Trade

During the period, the Group achieved revenue of RMB3,765 million, representing a 43.4% year-on-year increase. Gross profit amounted to RMB1,233 million, with an overall gross profit margin of 32.8%. Profit attributable to owners of the parent company amounted to RMB119 million, while adjusted profit attributable to owners of the parent company amounted to RMB150 million. Both measures turned profitable, reflecting continued improvement in operational efficiency and profitability alongside the expansion of the Group’s business scale.

The Group’s three major business segments developed in synergy. The API business recorded revenue of RMB464 million, representing a year-on-year increase of 860.8%, and became a key growth driver for the Group. The AI Platform business recorded revenue of RMB3,088 million, representing a year-on-year increase of 30.0%. The Agentic AI business recorded revenue of RMB214 million, representing a year-on-year increase of 4.9%.

Dr. Dai Wenyuan, Founder, Chairman and Chief Executive Officer of Phancy, said: “In the first half of 2026, the Group accelerated revenue growth and further improved profitability, supported by the coordinated development of our AI Platform, API and Agentic AI businesses. The AI Platform continued to strengthen our core business foundation, while the API business delivered breakthrough growth by leveraging the capabilities of the Token Factory, becoming an important growth engine for the Group.

Looking ahead, we will capitalize on the opportunities arising from the large-scale adoption of enterprise AI, apply our technological and operational strengths to deepen synergies between the AI Platform and API businesses, and focus our Agentic AI business on high-value industry applications. We remain committed to maintaining high-quality growth and operational efficiency while creating long-term, sustainable value for our clients and shareholders.”

Token Factory Drives Breakthrough Growth in the API Business

During the period, the API business sustained its strong growth momentum and recorded revenue of RMB464 million, representing a year-on-year increase of 860.8%, supported by enhanced Token service capabilities and growing client demand. In the first half of 2026, Token consumption grew by approximately 620% year on year. As of the end of the period, the Group’s available computing power resources increased to 28,000 PFLOPS, supporting the expansion of Token service capacity and future development of the API business.

In the first half of 2026, the Group continued to enhance its API service capabilities. As one of the Group’s core technology platforms, ModelHub has accumulated more than 200,000 “model x chip” adaptation combinations, creating an increasingly significant scale advantage and enabling the Group to meet growing demand for AI model calls from enterprises and developers in Mainland China and overseas markets.

The “Token Factory” is not a standalone product, but an integrated production and operational framework connecting heterogeneous computing resources, models and enterprise applications. Leveraging core technologies including HAMi vGPU and ModelHub, the Group has established end-to-end capabilities spanning computing resource scheduling, model adaptation, and Token production and delivery, creating a complete value chain from computing resources to Token services and enabling clients to use AI services with greater stability, efficiency and cost-effectiveness.

The Group will continue to optimize the allocation of computing power resources in line with business needs and enhance the production and delivery capabilities of its Token services. As AI adoption expands across a broader range of use cases, the API business is expected to further unlock its growth potential and create increasing commercial value as it scales.

Enterprise Private Deployments Strengthen the AI Platform’s Core Business Foundation

During the period, the AI Platform business achieved revenue of RMB3,088 million, representing a year-on-year increase of 30.0%. The Group’s orders on hand amounted to approximately RMB7 billion. Supported by broader client coverage, a steady increase in the number of paying clients and growing revenue contributions from major high-quality clients, the AI Platform business maintained steady growth and remained a stable contributor to the Group’s revenue.

During the period, the number of paying clients with RISE vGPU, the commercial version of HAMi vGPU, as their primary requirement increased approximately 5-fold year on year. As the adoption of heterogeneous computing resources continues to expand, enterprises’ needs for more effective computing power and higher resource utilization efficiency are also increasing, creating further growth opportunities for the Group’s related products and services.

As AI applications become increasingly integrated into enterprises’ core business processes, clients’ requirements for data security, operational autonomy and control, flexible integration and long-term operations continue to increase, highlighting the importance of private deployment of enterprise AI. The Group continues to provide clients across the energy, manufacturing, financial services, retail and telecommunications sectors with full-stack capabilities encompassing unified heterogeneous computing resource management, model adaptation and optimization, and the deployment and operation of enterprise AI applications, supporting clients in expanding AI applications from individual projects to a broader range of business scenarios.

Agentic AI Focuses on High-Value Applications and Explores Result-as-a-Service Model

During the period, the Agentic AI business continued to operate steadily, recording revenue of RMB214 million, representing a year-on-year increase of 4.9%. The Group continued to pursue a focused development strategy, prioritizing investment in industry applications with significant strategic value and the potential to accumulate high-quality, industry-specific data, thereby supporting the long-term development of its business value and industry capabilities.

In terms of its business model, the Group further promoted its result-as-a-service (RaaS) cooperation model in high-value industry applications, including energy and entertainment industries. Rather than simply selling standardized products, the Group works closely with clients throughout their business processes, using AI to reduce costs, improve efficiency and generate incremental revenue. Commercial arrangements are linked to the value actually delivered. As the relevant projects continue to progress, the Group aims to further deepen these client relationships while accumulating real-world industry experience and know-how, creating favorable conditions to further scale the relevant capabilities.

Looking ahead, the Group will continue to maintain a focused approach to investment and prioritize business areas capable of creating long-term client value and economies of scale.

Operational Efficiency and Resource Support Enable Business Expansion

During the period, the Group’s research and development (R&D) expenses amounted to RMB1,208 million, up 35.2% year on year, and R&D expense stood at 32.1%. As of the end of the period, the Group had accumulated more than 500 invention patents. The Group continued to focus on strengthening core AI infrastructure capabilities, including HAMi and ModelHub, and further enhanced its capabilities in heterogeneous computing power management, model adaptation and enterprise AI services, supporting the coordinated development of the AI Platform, API and Agentic AI businesses while further enhancing product iteration, client delivery and operational efficiency.

In the first half of the year, the Group strategically increased its computing power resource reserves to support the continued capacity expansion of Token service capacity and meet growing client demand. Capital expenditures amounted to RMB2,237 million. At the same time, the Group had aggregate credit facilities of approximately RMB6,616 million and total borrowings of RMB1,660 million, providing financial support for the deployment of computing power assets and business development. The Group will continue to allocate resources in line with its business development needs and balance capital investment, business growth and profitability.

The Group’s selling and marketing expenses amounted to RMB28 million, representing a year-on-year decrease of 85.0%, while selling and marketing expenses as a percentage of revenue decreased to 0.75%, primarily due to increased client recognition and enhanced product capabilities. While maintaining investment in core technologies, the Group will continue to optimize resource allocation and operational efficiency and enhance the quality of business growth.

Dual Growth Engines Driving Long-Term Value Creation

Looking ahead, enterprise AI applications are gradually moving from pilot programs toward large-scale adoption and continuing to expand into a broader range of core business areas. Enterprises’ requirements for data security, operational autonomy and control, and deep integration with business processes will continue to drive the development of the private AI Platform deployment market. At the same time, the wider adoption of Agentic AI applications and rapid growth in Token demand are expected to drive continued demand for efficient, stable and scalable Token services.

Leveraging its neutral, full-stack AI capabilities and extensive experience serving enterprise clients, the Group will continue to enhance its technology, delivery and operational capabilities. While maintaining a disciplined approach to operations, the Group will support the steady growth of the AI Platform business, steadily advance the development of the Token Factory and the API business, and focus the Agentic AI business on industry applications with long-term value, creating sustainable value for clients and shareholders.

Hashtag: #Phancy

Starring Shawn Dou, the campaign advances digital premiumisation across key Asia markets, accelerating online-to-offline conversion

Join Carlsberg Asia and Shawn on the journey to “Cheers from the Origin”: link

HONG KONG SAR – Media OutReach Newswire – 20 August 2026 – Carlsberg Asia is deepening its partnership with RedNote, China’s leading social commerce platform, through the digital campaign “Cheers from the Origin” （丹麥碰杯時刻）. The collaboration expands reach and strengthens engagement with modern consumers across key Asia markets, including Hong Kong, China; Singapore; Malaysia; and Vietnam.

Building on the strategic partnership framework established with RedNote last year, Carlsberg Asia is charting a long-term digital acceleration journey by combining Carlsberg’s premium portfolio with RedNote’s social commerce capabilities, data insights, and creator network. The collaboration is piloting new ways to reach Chinese-speaking, digitally savvy consumers and convert online engagement into on-the-ground bar and restaurant visits and e-commerce conversions.

Starring award-winning Chinese actor Shawn Dou （窦骁）, “Cheers from the Origin” brings Carlsberg’s 179 years of heritage and brand philosophy to life through a cinematic hero film and a series of online-to-offline (O2O) beer experiences co-created with RedNote in each local market.

Arindam Varanasi, Commercial Vice President, Carlsberg Asia, “This campaign marks a pivotal milestone in our Asia Digital Acceleration Program. ‘Cheers from the Origin’ demonstrates our partnership-led approach to linking our premium product portfolio with digitally engaged consumers, scaling online-to-offline conversion, and driving sustainable, long-term value for our brands and our business.”

Dodo Kwong, Regional Head, Asia Global Business Solutions, RedNote, further added, “Our continued partnership with Carlsberg shows how a heritage brand can thrive on RED, a platform built around community and discovery. Through authentic storytelling and the power of our creator network, we guide consumers to new places, new food pairings and new ways to enjoy Carlsberg, converting social engagement into real-world visits and measurable brand impact.”

Shawn Dou Traces Carlsberg’s Rich Heritage

The “Cheers from the Origin” campaign opens at the Home of Carlsberg in Copenhagen, moving from the historic brewery and museum to the Carlsberg Research Laboratory, where the brand’s past and present come to life. Experiencing the story firsthand, Shawn becomes Carlsberg’s narrator, guiding consumers through original details that spotlight brewing craftsmanship and open-innovation mindset that has shared breakthroughs across the industry many years ago. Highlights include an expansive product collection that ranges from global favourites to limited Chinese New Year editions for Asia markets, plus a playful search for the world’s smallest toast, a 12mm miniature about the size of a grain of rice with a single drop of Carlsberg 0.0 beer. The journey also celebrates Carlsberg’s pursuit of perfection, where Shawn learns the perfect serve to build a creamy head and release aroma. The film leaves viewers with heritage they can feel, quality they can trust, and a premium beer experience ready for every drinking occasion in Asia.

Cheers with Carlsberg: From Social Discovery to Real-World Beer Experiences

From now until 9 October 2026, Carlsberg Asia is amplifying its origin story and driving on-the-ground visits across key Asia markets through culturally relevant occasions and content creator partnerships on RedNote. The O2O campaign invites consumers, both travellers and locals, to explore a curated trail of premium bars and restaurants where great taste meets local culture.

Through an interactive daily mission in the RedNote app, consumers can check in at featured pages and spots, unlock exclusive perks, and share their Cheers moment(#丹麥碰杯時刻) in real time. Each market’s bar trail is anchored by “The Perfect Serve”, a nod to Carlsberg’s heritage and quality from the origin to Asia. Completing missions earns points toward exclusive rewards including Carlsberg x Liverpool jersey, photo autograph of Shawn Dou, or a limited-edition Heipi Vacation Potato Captain plush.

Carlsberg Asia is tapping RedNote’s user-generated content engine and advanced targeting capabilities to reach digitally savvy consumers, driving online and offline brand discovery and conversion.

Hashtag: #CarlsbergAsia

About Carlsberg Asia

Navigating Market Cycles with Operational Resilience, Core Business Stabilizes and Rebounds, Marking a Strategic Turnaround and New Growth Phase

HONG KONG SAR – Media OutReach Newswire – 20 August 2026 – ZJLD Group Inc. (“ZJLD” or the “Company”, together with the Company’s subsidiaries, collectively the “Group”) (SEHK stock code: 06979.HK), a flagship enterprise in China’s baijiu industry and the first baijiu company listed on the Hong Kong Stock Exchange, is pleased to announce its interim financial results for the six months ended 30 June 2026 (“FY 2026 1H” or the “Period”)

In the first half of 2026, the broader baijiu industry operated within a demanding macroeconomic environment characterized by structural adjustments and sluggish consumer demand. In response to cyclical headwinds during the Period, the Group proactively optimized its operational strategies, strengthened healthy channel management, and accelerated digital innovation, resulting in comprehensive stabilization and an operational rebound. The year 2026 marks a pivotal strategic inflection point for ZJLD, signaling the completion of a two-year industry-driven consolidation and the onset of a new high-quality growth cycle.

The key financial and business highlights are as follows:

Optimized Product Mix Drives Profitability; Multi-Brand Synergy Amplifies Resilience

• During the Period, the Group recorded revenue of RMB 2,546.1 million, representing a 2.0% year-on-year increase. Gross profit increased by 3.2% to RMB 1,520.9 million, while Adjusted Net Profit reached RMB 626.1 million, up 2.1% year-on-year. Benefiting from an expanded revenue contribution of Sub-premium products and the Li Du brand, alongside streamlined production efficiencies, the Group’s gross margin expanded by 0.7 percentage points to 59.7%. Net cash operation cash outflow narrowed significantly by 27.4%, underscoring rigorous cash flow management and prudent risk control.
• Zhenjiu (Flagship Brand): Generated RMB 1,342.4 million in revenue during the Period, accounting for 52.7% of total revenue. The Group exercised disciplined control over channel fulfilment ahead of the launch of the next-generation Zhen 15 to safeguard channel pricing integrity. Meanwhile, the strategic flagship product “Da Zhen” achieved strong growth and explosive nationwide expansion across 31 provinces and 280 cities, driving Zhenjiu’s gross margin up to 59.8%.
• Li Du (Second Growth Engine): Accelerated its growth momentum, recording revenue of RMB 788.0 million, sharply up 28.9% year-on-year. Driven by the national expansion of its Sub-premium and Mid-tier product portfolio, such as Li Du Sorghum 1975 (李渡高粱 1975), Li Du Sorghum * Changyin Collection Series (李渡高粱酒 · 暢飲珍藏版), and the Li Du King Series (李渡王系列), Li Du demonstrated formidable, explosive market penetration and volume growth.
• Xiangjiao & Kaikouxiao (Regional Powerhouse): Maintained solid market share within Hunan Province, generating RMB 282.8 million, up 2.0% year-on-year, and RMB 81.8 million, up 1.0% year-on-year, respectively in revenue, both delivering sustained market stabilization and modest growth.
• Sub-Premium Baijiu Segment: Delivered exceptional performance, achieving revenue of RMB 1,366.1 million, up 39.1% year-on-year. The segment’s contribution to overall revenue surged from 39.3% to 53.7%, reflecting the Group’s agile realignment with evolving consumer shifts toward rational spending and banquet occasions (e.g., weddings and celebrations), successfully capturing growth opportunities in the sub-premium segment.
• The Board of Directors does not recommend the declaration of an interim dividend for the six months ended 30 June 2026 (FY 2025 1H: nil).

Strategic Agility: Pioneering Channel Innovation & Digital Synergy as Dual-Engine
The Group’s proprietary “Premier Retailers Alliance” model and the Monthly Profit-sharing Model (“月月分利模式”) designed for the 5th Generation Zhen 15 have effectively resolved long-standing industry pain points, such as price inversion and distributor margin compression. By establishing competitive monthly margins, automating online ordering, and offering a share-linked sales incentive plan with certain distributors, the Group successfully attracted and retained high-calibre distributors with strong group-selling capabilities and direct access to end consumers. As of 30 June 2026, the Group’s distributor network expanded to 8,993 partners, an increase of 710 from the end of 2025.

Complementing this channel evolution, the Group adopted an omnichannel marketing framework combining “Community Penetration + Digital Empowerment”. Chairman Wu Xiangdong’s executive video channel (“Wu Jindong – ZJLD, 吳金東－珍酒李渡“) and regional cultural livestreams topped the “Entrepreneur Video IP 100 List” (企業家視頻IP100榜單) for seven consecutive months, averaging over one million views per broadcast. This sparked widespread co-created content with members of the Premier Retailers Alliance (萬商聯盟), creating a powerful online-to-offline traffic funnel. Simultaneously, Zhenjiu’s brand value rose to RMB 34.685 billion, a 103% gain over five years, solidifying among China’s top three sauce-aroma baijiu brands.

Forward-Looking AI Integration and Enterprise Digitization
The Group anchors its digital transformation strategy on operational capability and sustainable value creation. During the Period, in partnership with China Unicom, the Group developed an “AI + Expert Blending” framework powered by Large Language Models (LLMs). This synthesis of traditional heritage and advanced AI enables intelligent blending, elevating consistency, efficiency and craft precision. Furthermore, the Group upgraded Da Zhen‘s digital coding system to a “Six-Code” integration architecture, incorporating NFC anti-counterfeiting and ceramic jar storage metrics, as well as an RFID smart case labelling system to track and ensure precise volumetric measurement and end-to-end lifecycle traceability for every Da Zhen product. Zhenjiu was also awarded the national Data Management Capability Maturity Model (DCMM) Level 3 (Robust) accreditation, further validating its AI deployment and digital leadership.

Deepening Operational Foundations to Drive the New High-Quality Growth Cycle
Looking ahead to the second half of 2026 and beyond, ZJLD will maintain strategic poise by extending proven operational frameworks, such as the “Premier Retailers Alliance” and “Monthly Profit-sharing Model” to Zhen 30 and other core product lines. This initiative will precisely activate high-end and mid-tier markets while strengthening portfolio synergies across all price ranges. Concurrently, the Group will deepen its operation-sales decoupling (營銷分離) mechanism, rigorously monitor channel pricing, protect distributor profitability, and prioritize storage facility construction across its five major production facilities, namely Zhen Jiu Mao Tai Shuang Long (茅台鎮雙龍), Zhen Jiu Bai Yan Gou (白岩溝), Zhen Jiu Zhao Jia Gou (趙家溝), Li Du Zheng Jia Shan (鄭家山) and Xiang Jiao Jiang Bei (江北) to reinforce its long-term competitive moat.

Mr. Wu Xiangdong, Founder and Chairman of ZJLD Group, remarked, “Baijiu is a business that demands patience and reverence—time speaks through quality, and authentic fragrance endures. Over two years of industry rebalancing, our distributor partners and we have navigated genuine challenges and hardships; yet this period offered an invaluable window for reflection, consolidation, and self-reinvention. The deeper the valley, the more vital it is to stay grounded and focus on disciplined execution. Our stabilization in the first half of 2026 is the natural reward of diligent work and marks the dawn of a new growth phase. There are no shortcuts in business—only an uncompromising pursuit of quality, continuous market exploration, and adaptability in the face of change. In times of adversity, we chose to brew finer liquor, preserve channel profitability, and deliver utmost sincerity to our consumers. The launch of the ‘Premier Retailers Alliance’ and ‘Monthly Profit-sharing Model’ models ensures that every partner who trusts ZJLD enjoys security, clarity, and equitable rewards amid challenging conditions.

Engaging directly with consumers and merchants through digital broadcasts has reinvigorated my entrepreneurial passion and joy, which I felt when I first entered the baijiu industry. The consumers’ appreciation for fine baijiu remains undiminished, and their yearning for a better life remains passionate. 2026 serves as ZJLD’s springboard for a renewed journey. We remain a dedicated team of idealistic distillers, honoring nature’s harvest, grateful for the passage of time, and optimistic about the industry’s future. ZJLD will move forward with resilience, innovation, and an open heart alongside all our companions—cheers to bright moments and the journey ahead.”

Hashtag: #ZJLDGroup

About ZJLD Group Inc.

Trivium Accelerates Asset Enhancement to Inject Innovative Momentum into Traditional Grade-A Landmark

HONG KONG SAR – Media OutReach Newswire – 20 August 2026 – As leasing activity in Hong Kong’s core commercial districts continues to recover, Nexxus Building in Central has welcomed METiS TechBio (Stock Code: 7666.HK), the world’s first listed artificial intelligence (AI) – powered drug delivery biotechnology company. This marks another milestone for Trivium Asset Management (“Trivium”), an Asian real estate investment and asset management firm in advancing asset optimisation and attracting diversified quality tenants successfully since taking over the building’s operations and management.

Since assuming the management of Nexxus Building at the beginning of this year, Trivium has rapidly driven interior upgrade and optimisation work. The 23rd floor has been transformed into a brand-new event space, “Nexxus Hub“, providing tenants with a one-stop, value-added venue for seminars, networking events and workshops. At the same time, to meet market demand for flexible office space, the team subdivided the 6th floor into six small-to-medium units, significantly enhancing the flexibility of floorplate configuration to precisely address the needs of enterprises of different scales. Upon completion of the works, multiple tenant groups promptly enquired and successively moved in, including METiS TechBio as well as several finance industry companies.

As the global pioneer in AI-driven nanotechnology innovation and drug delivery, METiS TechBio has demonstrated robust market potential following its listing on the Main Board of the Hong Kong Stock Exchange in May this year. Dr. Chris Lai, Co-founder and Chief Executive Officer of METiS TechBio, said, “As a company at the forefront of life sciences and AI innovation technology, we are at a critical stage of rapid business expansion and global scaling. Central, as an international financial and commercial core, offers outstanding geographical advantages and a top-tier business ecosystem. With the completion of internal upgrade works at Nexxus Building, its event space and the flexible spatial planning on the 6th floor is a great match to our team’s operational needs. We eagerly anticipate establishing our Hong Kong base at Nexxus Building to further drive the Group’s technological innovation and strategic breakthroughs.”

METiS TechBio’s decision to locate at Nexxus Building not only reflects leading tech-innovation enterprises’ confidence in the commercial prospects of Central’s core, but also highlights how the building’s post-optimisation positioning precisely addresses the requirements of high-growth enterprises.

Mr. Wilfred Ma, Managing Partner of Trivium Asset Management, said, “We warmly welcome METiS TechBio to Nexxus Building. This serves as a testament to the market’s recognition of the building’s prime location and quality facilities. Since taking over management, Trivium has been actively advancing asset optimisation, including creating the event space ‘Nexxus Hub’ and reconfiguring the unit layout on the 6th floor, injecting innovative concepts into a traditional Grade-A office building while providing tenants with a more flexible and value-added workplace experience. Looking ahead, we will continue to leverage innovative asset management strategies to attract a diversified range of premium enterprises, continuously unlocking the commercial value of Nexxus Building as a landmark Grade-A office building in Central.”

Built in 1962 as the former headquarters of Hang Seng Bank, Nexxus Building has been a witness to Hong Kong’s rise as a global financial centre. Following a major renovation in 2008 and the addition of a direct footbridge to IFC and the Airport Express in 2020, the building continues to host multinational corporations, leading financial institutions and professional services firms, and premium retail tenants – including the iconic Hong Kong Bankers Club – reinforcing its status as one of Central’s most distinguished Grade‑A office towers.

Hashtag: #盈置大廈 #NexxusBuilding #三界資本 #Trivium #劑泰科技 #METiSTechBio

About Trivium Asset Management

Founded in 2022, Trivium Asset Management is a Hong Kong based real estate investment and asset management firm overseeing assets valued at over US$900 million across Asia. Trivium serves institutional investors, financial institutions, and family offices through integrated investment and asset management, value creation strategies, and technology integration. The firm’s mission is to maximize long term value and promote sustainable growth for clients and communities alike.

Local Franchise Model to Enhance Operational Efficiency and Support Sustainable Growth

SINGAPORE – Media OutReach Newswire – 20 August 2026 – International Housewares Retail Company Limited (“IH Retail” or the “Group”, stock code: 1373), the parent company and owner of the “Japan Home” brand in Singapore, is pleased to announce that all “Japan Home” stores in Singapore have resumed operations and are open for business.

Following the completion of the transition arrangements, all relevant stores have reopened on 20 August 2026.

On 13 August 2026, an indirect subsidiary of the Group entered into a three-year master franchise agreement with the Singapore master franchisee, Radha Export Pte. Ltd (“Radha”), the company which is the engine behind the ABC and Valu$ stores in Singapore, and completed the handover of the existing stores on 19 August 2026. The agreement grants the master franchisee the exclusive right to operate the “Japan Home” business in Singapore, including through sub-franchisees, and to establish additional outlets at suitable locations.

Radha combines extensive experience in consumer goods and wholesale distribution with strong local operational expertise and a well-established supply chain network. By leveraging the Radha’s local capabilities, the Group expects to enhance store operating efficiency, improve its responsiveness to market demand and maintain strong brand awareness in Singapore. The local franchise model is also expected to support the continued expansion of the “Japan Home” brand’s reach and influence in Singapore and across the Southeast Asian market over the next three years.

This strategic restructuring represents an important step in optimizing the Group’s regional business structure, improving operational quality and enhancing efficiency. The Group remains confident in the long-term development of the Singapore market and is committed to ensuring customers continue to enjoy shopping at “Japan Home” stores in Singapore.

Hashtag: #JapanHome

MUMBAI, INDIA – Media OutReach Newswire – 19 August 2026 – SNP SE, a leading provider of software for AI-enabled digital transformation, automated data migration and data management in the SAP environment, announced the appointment of Neeraj Athalye as Managing Director, India. Based in Mumbai, Athalye will be responsible for leading SNP’s expansion helping customers build the data foundations for business AI using SNP’s Kyano® platform and Bluefield® approach.

Athalye brings with him more than 30 years of experience across enterprise software, SAP, cloud technologies and business leadership, having held senior positions at SAP, MatrixOne (Dassault Systèmes), Honda, John Deere, SUSE and, most recently, Icertis. His track record in building partner ecosystems, scaling high‑growth businesses, and driving customer‑centric innovation positions him perfectly to lead SNP’s next phase of expansion in India.

The appointment comes as SNP expands its presence in Asia Pacific and continues to invest in AI-enabled capabilities for SAP transformations. At its annual flagship event “Transformation World” in Heidelberg, Germany, in July, SNP introduced new capabilities for its Kyano platform to customers, partners and experts from across the global SAP ecosystem. Kyano brings together software for data management, migration and continuous assessment of SAP landscapes, supporting organizations throughout their SAP transformation journey. The platform also supports migrations from different ERP source systems and integrates partner capabilities through its ecosystem and Marketplace.

Among the new capabilities is Kyano Lorna, an Agentic AI Layer that draws on more than 30 years of SNP’s data transformation expertise to provide real-time insights and project-specific recommendations. Embedded directly into transformation projects it helps customers execute transformations faster while maintaining the highest levels of accuracy, reliability and compliance. Kyano Oros extends the platform to unstructured data which accounts for approximately 80% of enterprise data volumes and has largely remained inaccessible to traditional transformation tools. This provides a critical foundation for preparing enterprise data landscapes for modern AI applications. Together, these capabilities help India’s organizations accelerate and simplify SAP transformations while preparing their data for business AI.

India continues to see growing demand for SAP transformation projects, driven by cloud adoption, digital transformation initiatives and increasing investment in AI. This makes the country an important market within SNP’s Asia Pacific strategy. Following its partner-first approach, SNP plans to further expand its ecosystem of consulting, hyperscaler and technology partners, combining Kyano with local delivery and industry expertise to support customers throughout their transformation projects and accelerate time-to-value.

Phillip Miltiades, President & Managing Director, Asia Pacific & Japan, SNP Group: “We see significant growth potential in India and across the Asia Pacific region. India represents one of the most exciting opportunities for SNP, with growing demand for solutions that simplify complex SAP transformation programs while minimizing business disruption. Neeraj’s experience will help us further expand our market presence and strengthen our partner-first strategy to deliver scalable, software-led transformation outcomes.”

Hashtag: #SNP

About SNP