His appointment reflects Citi’s commitment to strengthening research, a vital activity that supports clients and drives growth across the firm’s markets, banking, and services businesses.

Michael Zezas - new global head of research at Citi. Image courtesy of Citi

Zezas brings broad leadership experience across asset classes, regions and market cycles, together with a strong understanding of how high-quality insights create value for clients and the firm.

As markets and client expectations evolve, Citi will continue to invest in its Research platform, attract leading talent and expand the value it delivers.

Under Zezas' leadership, Citi will build its capabilities, including through digitisation and automation, enhancing how it develops, delivers and commercialises insights and helping ensure research reaches clients in a timely, relevant and seamlessly integrated way.

“Michael's appointment reflects our commitment to investing in a world-class Research franchise,” said David Livingstone, chief client officer, Citi.

“His deep market expertise, global leadership experience and client-focused approach make him exceptionally well positioned to lead the business. As our clients continue to navigate capital markets, we will keep investing in top talent, strengthening our capabilities, leveraging new technologies and delivering timely, differentiated insights that help clients make informed decisions.”

Citi Research regularly publishes analysis on Vietnam’s economic outlook, including the country’s exposure to global developments and its role in regional and global trade. The research gives clients insights to support their understanding of Vietnam’s evolving economic and market environment.

Citi Foundation launches fourth Global Innovation Challenge The Citi Foundation has launched its fourth Global Innovation Challenge to help equip young people with skills for an economy increasingly shaped by AI.

Citi report: Corporates prioritise liquidity as supply chains mature Citi Institute and Citi's Services business have released a new report examining how corporate priorities are evolving as global supply chains mature.

Citi and HDBank sign MoU to expand banking cooperation Citi and HDBank have signed an MoU to expand cooperation across a broad range of banking and financial services.

Citi's e for education campaign supports disadvantaged youth through vocational training Disadvantaged young people in Vietnam are gaining access to vocational training and employment opportunities through Citi’s e for education (e4e) campaign, which raised $6.7 million globally in 2025.

Throughout his career, he has contributed to business growth, expanded access to innovative prevention solutions, and led strategic transformation initiatives across the pharmaceutical sector.

Lucas Steinberg – head of Vaccines and country lead of Sanofi-Aventis Vietnam. Photo: Sanofi

Throughout his career, he has contributed to business growth, expanded access to innovative prevention solutions and led strategic transformation initiatives across the pharmaceutical sector.

Coming from a family with a strong connection to the medical field, Lucas developed an early passion for healthcare and has pursued a career driven by the ambition to create positive and sustainable impact for communities.

During his years at Sanofi, he has gained diverse experience spanning market development, strategic planning, people leadership, and commercial operations, contributing to bringing innovative treatment and prevention solutions to people across different markets.

Lucas takes on his new leadership role in Vietnam at a pivotal time for the country’s healthcare sector. Major government priorities aimed at improving the quality of healthcare are creating new opportunities across both treatment and prevention.

The shift from a focus on ‘treating disease’ towards a more comprehensive approach to healthcare and proactive disease prevention is helping to reduce the burden of disease while supporting the development of a more sustainable, modern and people-centric healthcare system.

At the same time, national priorities around science, technology and innovation are creating strong momentum for the development of Vietnam’s healthcare sector. These policies are expected to encourage research, manufacturing and the adoption of advanced biomedical technologies, while strengthening Vietnam’s long-term capabilities and self-reliance in healthcare.

Sanofi and VNVC announce a Joint Declaration on the localisation of vaccine production during state-level visit of General Secretary and President To Lam to France. Photo: Sanofi

Commenting on his appointment, Lucas Steinberg said, “It is a great honour to lead the Sanofi vaccines team, particularly at a time when Vietnam’s healthcare sector is entering a period of significant opportunity and transformation. The opportunity to lead a talented team, with an innovative portfolio and committed strategic partners in a fast-growing market like Vietnam is highly motivating for me.”

“Above all, our mission to protect the health of millions of people across generations continues to be a strong source of inspiration for me,” he noted.

With nearly 75 years of presence in Vietnam, Sanofi is a strong example of the longstanding cooperation between Vietnam and France in healthcare. Over the decades, the company has not only brought innovative treatment solutions to millions of patients, but has also contributed to public health programmes, supported the development of healthcare professionals and promoted more equitable access to scientific advances.

Lucas Steinberg, representing Sanofi, welcomed Deputy Minister of Health Do Xuan Tuyen and Sanofi’s partner VNVC on a visit to Sanofi’s manufacturing facility in France. Photo: Sanofi

In disease prevention, Sanofi continues to work closely with health authorities, healthcare professionals and partners to support efforts to prevent vaccine-preventable diseases and strengthen the capabilities of healthcare professionals. Alongside expanding access to innovative vaccine solutions, Sanofi is actively pursuing collaboration in research, technology investment and the development of local manufacturing capabilities. These efforts are expected to contribute to the development of Vietnam’s biotechnology sector, strengthen healthcare self-reliance and support the country’s long-term health security.

Sanofi-Aventis Vietnam joins efforts to reduce plastic waste Sanofi-Aventis Vietnam on June 17 entered a cooperation agreement with FPT Long Chau to implement the Insulin Pen Sustainability Pilot Project, aiming at reducing plastic waste and creating a solution to properly dispose of used insulin pens in Vietnam.

Ministry of Health and Sanofi-Aventis Vietnam sign MoU The Vietnam Administration of Disease Prevention and Sanofi-Aventis Vietnam Co., Ltd. signed an MoU on May 27 to cooperatively strengthen Vietnam’s healthcare capacity and expand public education on disease prevention, with a focus on nationwide life-course immunisation drives.

Sanofi brings world’s first modular concept manufacturing facility to Singapore Sanofi announced on December 4 the inauguration of its state-of-the-art manufacturing facility, Modulus, in Singapore, marking a significant milestone in its commitment to delivering innovative healthcare solutions globally.

MoH and Sanofi partner to advance lifelong vaccination nationwide The Vietnam Administration of Disease Prevention and Sanofi-Aventis Vietnam signed an MoU on May 27, marking a new step forward in efforts to prevent and control diseases and improve the health of the Vietnamese people.

Advancing Smart Heated Clothing with Three Core Upgrades

Traditional heated garments often rely on rigid wire heating elements that may contribute to uneven heating experiences, a stiff internal feel, and laundering limitations. Wulcea addresses these challenges by integrating proprietary GrapheneNano™ technology across its smart outerwear line.

This innovation delivers three key upgrades designed to enhance comfort, performance, and durability in heated apparel:

• Flexible graphene heating elements deliver broader, more consistent warmth across key heating zones.
• Far-infrared heating technology creates gentle, sun-like warmth for everyday winter comfort.
• Flexible graphene heating elements are tested for durability and flexibility to support reliable long-term performance.

Enhanced Heating Performance and Certified Safety Standards

Every jacket in the line features 3-second rapid heating with three easily adjustable temperature settings for customized comfort. Powered by a high-capacity 18,400mAh portable fast-charging battery pack, the system provides up to 10 hours of continuous heat on the low setting, making it ideal for full-day outdoor activities and long commutes. Safety remains a central priority in Wulcea's product development. The jackets operate on a low-voltage 12V system equipped with NTC intelligent thermal control, which automatically halts heating when internal temperatures exceed 131°F (55°C). Engineered to meet applicable safety standards, the collection carries UL, FCC, and CE certifications for electrical and electromagnetic safety, alongside RoHS environmental compliance and UN38.3 battery transport safety protocols. Designed for different winter lifestyles, Wulcea's heated clothing collection includes hardshell jackets for outdoor activities and changing weather conditions, softshell styles for daily commuting, and heated vests for additional layering warmth. Across the collection, durable SBS zippers and hidden interior heating buttons provide functional convenience while maintaining a clean, understated design.

Tailored Models for Diverse Lifestyle Scenarios

Wulcea designed its flagship models to align with specific daily scenarios, user preferences, and winter lifestyle needs:

Men's Classic Graphene Heated Jacket (Hardshell): Engineered as a rugged protective layer for outdoor professionals, winter campers, ice fishing enthusiasts, and early-morning commuters. It combines a durable hardshell exterior with a soft insulated lining, featuring six targeted heat zones across the back neck, upper back, both lower waist areas, and front pocket areas. Whether clearing snowy driveways, waiting at icy transit stops, or spending long hours on outdoor job sites, slipping hands into the heated pockets offers quick warmth. Available in sizes S–5XL in Army Green, Black, Hunting Camo, Navy, and Dark Camo.

Women's Ski Heated Jacket (Color-Blocked): Blending alpine performance with modern urban styling for skiers, winter travelers, and daily city wear. Designed with a focus on key areas where many users seek additional warmth, including the arms and neck, six heating zones are strategically placed across the back neck, upper back, both upper arms, and front pocket areas. Whether carving down snowy ski slopes, enjoying outdoor holiday festivals, or walking through chilly downtown streets, it helps deliver targeted warmth while supporting comfortable movement in cold conditions. Available in sizes S–3XL in White, Pink red, Black, and Gray.

Making Advanced Heated Clothing More Accessible

By optimizing production processes and supply chain efficiencies, Wulcea helps make graphene-heated clothing more accessible to everyday consumers. Having served more than one million users globally, Wulcea continues to expand its presence in the smart apparel market, helping people stay active, warm, and comfortable wherever winter takes them.

In his remarks, Liu Fujian said that the global computing power market is experiencing rapid growth, and intelligent construction is becoming a key capability supporting the upgrading of computing power infrastructure. CCIEE will fully leverage its whole-chain service advantages, strengthen industrial ecosystem collaboration, and combine its professional strengths to promote deep integration of the innovation chain and industrial chain. It will deepen technological innovation cooperation, increase resource investment, and work with partners to advance the iterative upgrading of modular construction technologies. It will also seize opportunities in the Southeast Asian market, continue to cultivate key markets, and promote the upgrading of data center construction methods toward industrialization, intelligence, and green development, so as to jointly build a new, open, collaborative, green, and efficient ecosystem for digital infrastructure.

At the forum, guests held in-depth discussions on topics such as intelligent construction of data centers, modular rapid delivery, green computing power and liquid cooling infrastructure, and localized practices in Southeast Asia, sharing cutting-edge views and practical experience. Delegates agreed that Southeast Asia has become a core growth pole for global data center construction. Intelligent construction technologies driven by digitalization, modularization, and smart solutions are profoundly changing the development and construction models of data centers. Promoting standards alignment and mutual recognition, green power cooperation, and industrial collaboration has become a common mission for the entire industry. Taking this forum as a new starting point, all parties will work together to bring data center intelligent construction to new levels and achieve new breakthroughs.

Leveraging Hong Kong's role as a global trading hub, Carku met face-to-face with longstanding partners and international buyers at its booth, together witnessing a milestone moment as Carku wins Global Sources Innovation Award for CARKU 400W PB-113 Portable Power Station at Global Sources Consumer Electronics Show.

Showcase Spotlight: CARKU PB-113 Redefines All-in-One Portable Power

Anchored by the award-winning PB-113, Carku's energy storage lineup took center stage with a comprehensive range of models across diverse capacities.

Building on its deep manufacturing expertise and flexible OEM/ODM capabilities, Carku showcased a full lineup of AC-powered energy solutions engineered for outdoor camping and emergency applications, delivering highly customizable options for global brand partners.

400W AC Output: Power for Every Scenario

Equipped with continuous 400W AC output, PB-113 effortlessly supports daily electronics. It translates multi-scenario energy needs into a single, compact solution for off-grid travel support.

Space-Saving, All-in-One Versatility

Weighing just 5 kg, PB-113 saves up to 50% trunk space compared to traditional power stations. Equipped with smart jumper clamps featuring 10-stage safety protection, self-reliant drivers can safely jump-start dead batteries instantly with a single button.

Built to Last: 3,000+ Cycle LiFePO4

Powered by premium LiFePO4 cells engineered for 3,000+ cycles, PB-113 maximizes energy density and thermal stability. Coupled with advanced BMS hardware, it provides real-time operating protection to deliver a dependable energy experience.

Driving the Future of Multi-Scenario Power

Safety is our non-negotiable foundation," said Carku leadership. "Winning this Innovation Award validates our approach: integrating emergency jump-starting and energy storage into an automotive-grade ecosystem for both roadside assistance and off-grid living.

This multi-functional design directly hits market demand in Asia-Pacific, where disaster readiness and evolving grids drive off-grid power adoption. To accelerate regional rollout, Carku is executing its compliance roadmap—marked by its newly secured PSE certification in Japan—to deliver safe, dependable energy across the region.

Photo: Amata

ITS operates in the fields of industrial automation and engineering solutions, specialising in factory control and monitoring systems, high-tech equipment, and automation solutions for industrial manufacturing applications.

Through its technical expertise and commitment to innovation, the company has established a strong reputation in the market by delivering practical solutions that help improve operational efficiency for customers across Vietnam.

The facility is scheduled to commence operations in July 2027, representing an important milestone in ITS's strategy to expand its manufacturing capacity and meet the growing market demand for industrial technology and automation solutions.

Amata City Long Thanh. Photo: Amata

Located in Dong Nai city, Amata City Long Thanh benefits from excellent connectivity to southern Vietnam's key economic hubs through an integrated transportation network of expressways, international seaports, and the future Long Thanh International Airport, the centrepiece of the region's emerging airport city development model.

Leveraging these advantages, Amata City Long Thanh continues to attract investment from high-tech and advanced manufacturing businesses seeking a well-connected and future-ready industrial base.

To date, the IP has welcomed more than 15 domestic and international investors. The investment by ITS, the second Vietnamese enterprise to establish operations at Amata City Long Thanh, further reflects the growing confidence of local companies in the IP's high-quality infrastructure, strategic location, and long-term development potential.

Amata City Ha Long develops Vietnam-Japan local-level cooperation Amata City Ha Long took part in the Vietnam-Japan Local Cooperation Conference and related events from November 24-25, organised by the Ministry of Foreign Affairs in coordination with the Embassy of Japan in Vietnam and Quang Ninh People's Committee.

Amata City Ha Long lands $8 million investment from TianJian Vietnam Amata City Halong, also known as Song Khoai Industrial Park, has signed a land lease agreement with TianJian Vietnam for a new factory manufacturing speaker enclosures, plastic components, and moulds.

AMATA City Phu Tho secures $55 million credit facility A $55 million credit facility from Bangkok Bank will be used by AMATA City Phu Tho JSC for phase 1 of the project, focusing on compensation and site clearance, land development, and technical infrastructure.

AMATA City Ha Long reaffirms position as a modern industrial hub, welcoming new investor On September 11, Amata City Ha Long JSC. and Trois SMT (Vietnam) Technology Co., Ltd signed a Land Use Right Sublease Agreement for the development of a technology plant in Quang Ninh City.

Taking place from 11 to 15 October 2026 under the theme "Pathways to an Energy Future for All," the Congress will be hosted in Saudi Arabia for the first time in its history. First held in London in 1933, the Congress will bring together government leaders, industry executives, policymakers, researchers, and innovators in Riyadh to examine the forces reshaping global energy systems, from security and investment to technology and sustainability.

KAPSARC's participation extends across the Congress's Executive, Technical, Synergy, and Special Programmes, alongside additional sessions and activities, reflecting the breadth of the Center's research and policy expertise. KAPSARC President Fahad Alajlan and Dr. Ghadah Alarifi, Dean of the KAPSARC School of Public Policy, are among KAPSARC's speakers in the Executive Programme.

Across the Congress, KAPSARC experts contribute research and policy perspectives on energy supply and demand, energy access, natural gas, ESG and governance, the Circular Carbon Economy, artificial intelligence, mobility, and lower-emission pathways for refining and petrochemicals.

Within the Special Programme, KAPSARC leads a Knowledge Sprint session titled "Generative AI for Evidence-Based Oil Markets," examining how generative AI can support oil-market analysis and policy research. The session explores AI-assisted data workflows, econometric and scenario analysis, responsible AI practices, and the translation of technical findings into decision-ready insights.

KAPSARC also participates in the World Café through a session on "Carbon Dioxide Removal Technologies," bringing together experts, policymakers, and practitioners to examine the prospects for scaling engineered carbon-removal solutions. The discussion covers direct air capture, bioenergy with carbon capture and storage, and biochar, alongside the economic, infrastructure, regulatory, carbon-market, and regional considerations influencing their deployment.

In the Synergy Programme, KAPSARC experts contribute to discussions on "Accelerating the Circular Carbon Economy Through Joint Action" and "AI Partnerships for Energy Innovation," bringing research-based perspectives to the intersection of energy, technology, and sustainability.

KAPSARC's dedicated pavilion provides another platform for knowledge exchange and engagement throughout the Congress. Structured around five thematic hubs, the pavilion brings together KAPSARC research, analytical tools, and expertise across the Oil Hub, Transportation Hub, Clean Energy Hub, AI Hub, and Collaboration Hub. Together, the hubs provide visitors with an integrated view of selected research areas and emerging issues shaping energy systems, while creating opportunities for engagement with policymakers, industry leaders, researchers, and other Congress participants.

The pavilion also features the KAPSARC School of Public Policy (KSPP) and the Saudi Energy Leaders Assembly (SELA), providing additional platforms for policy education, leadership development, and knowledge exchange.

Through its participation across the Congress's programmes and sessions, alongside its dedicated thematic pavilion, KAPSARC connects Saudi-based research and policy expertise with international discussions on energy security, investment, technology, and sustainability.

For more information about KAPSARC:
https://www.kapsarc.org/

What's more, the LEGO Ideas platform means that once the build has been submitted and fans have voted on the design, the favourite submissions will then become immortalised as an official LEGO product.

Fede Begher, senior Vice President and Head of Product Group at the LEGO Group,said: "This challenge is a milestone for LEGO Ideas and our fan community. For the first time ever, fans can build with both Marvel and Star Wars in a single LEGO Ideas challenge, unlocking entirely new possibilities for creativity and storytelling. We know our fans never stop imagining new ways to bring their favourite worlds together, and we're excited to see the originality, passion and innovation they bring to this unique crossover."

As a tribute to the landmark 50^th anniversary of the Star Wars franchise in 2027, the Star Wars/Marvel: Hope Assembles comic series was unveiled this past summer. Launching in January, it's the first-ever crossover between the Star Wars and Marvel Comics universes. The LEGO Ideas challenge celebrates that crossover and honours the 50^th anniversary.

Open from today, fans simply need to visit ideas.lego.com, choose from three challenge themes of mashing up Star Wars and Marvel vehicles, characters or scenes, review all challenge rules and guidelines, and then get building with LEGO elements. Voting for the submissions begins December 15, 2026, with the Grand Prize Selections being announced next year.

For more information, please visit ideas.lego.com/campaigns/hope-assembles.

For more information: www.LEGO.com

Tutu is taking on a new role as Sands China's Robotic Guide No. 001, after the NBA House. The robots will begin providing visitor guidance at Sands Resorts Macau.

Under the partnership, Amap will also provide resort-wide indoor navigation, drawing on spatial information about floors, walkways, shops and public facilities. Using its spatial intelligence technology, Amap will build 3D models of selected resort areas, allowing visitors to preview from different viewing angles in the Amap app before arriving.

Welcoming Guests From NBA House to the Resorts

At the ceremony, Tutu walked autonomously from the waiting area to the stage, navigating around obstacles before stopping at the center. It moved without a remote control or leash.

Dr. DeVonne Iao, Senior Vice President and Chief Marketing Officer of Resort Marketing at Sands China, presented Tutu with its staff badge. The robot raised a front paw for a handshake and greeted the guests: "It is an honor to become Sands China's Robotic Guide No. 001. I look forward to providing more services in the future."

"We are delighted to welcome Tutu. This is our new step to bring tourism and technology together, and we look forward to Tutu making the resort experience more convenient and welcoming for visitors," Iao said.

Amap and Sands China will explore how Tutu can serve different settings across the resorts, matching its spatial intelligence capabilities to Sands China operational needs.

Successful Navigation at NBA House

At NBA House, Tutu's duties ranged from recommending food and exchanging fist bumps with fans to guiding children to restrooms.

During one interaction, a visitor extended a handshake with Tutu. The robot raised its front paw and reciprocated. When asked to sit, it sat down. After several exchanges, the visitor asked, "Can you take me somewhere to eat?" Tutu stood up and began leading the way.

Throughout the 11-hour workday, Tutu gave way to pedestrians, completed 214 requests for directions to facilities such as restrooms and service counters, and answered 4,546 questions in Chinese and English. It maintained the context of its tasks as visitors switched between languages and asked follow-up questions. The Tutu robots traveled more than 40 kilometers throughout NBA House — equivalent to 456 laps around a basketball court.

A Starting Point for Long-Term Service

The first activation with NBA House is just the beginning of Tutu's long-term services. At NBA House, Tutu operated amid shifting crowds, background noise and frequent changes in requests, completing its assigned services. Moving from NBA House to the resorts brings a different set of challenges: longer service periods, visitor requests spread across more locations and closer coordination with existing staff workflows. All of these will require reliable equipment, effective task scheduling and coordination among multiple robots.

"Today is more than Tutu's first day on the job — it is the start of long-term service," said Zhou Haijing, Chief Financial Officer of Amap. "The true value of this partnership lies in Tutu's ability to deliver reliable service during peak periods and become an integral part of the resorts' service operations."

Amap and Sands China will continue to refine the service, combining Sands China's resort operating experience with Amap's technology. The partnership will provide further practical experience in deploying embodied AI in tourism and hospitality settings.

In recent years, the Company has established a relatively mature overseas commercialization platform, and has reached overseas cooperation agreements on more than 30 products with multiple domestic pharmaceutical companies, covering therapeutic areas such as oncology, autoimmune diseases, and metabolic diseases, with its marketing network covering approximately 70 countries and regions, and has submitted nearly 200 registration applications overseas.

Europe is one of the company's key markets for the core product albumin-bound paclitaxel, which is already marketed in the EU, the UK, and other regions. Guided by unmet clinical needs and market potential, Kexing Biopharm is also developing more than 10 high-value biosimilars for global markets.

To strengthen its local presence in Europe, the Company has established a subsidiary in Germany and is steadily advancing plans to set up subsidiaries in France, Spain, Italy, the United Kingdom, the Netherlands, and other markets. These local operations will enable Kexing Biopharm to respond more effectively to regional customer needs and build long-term relationships with its partners. The Company's participation in CPHI events in Europe over consecutive years has provided an important platform for deepening its presence in the region and engaging face-to-face with local industry partners.

"Innovation+ internationalization" is the Company's core strategic direction, and among the innovative drug pipeline displayed on site, research progress in areas such as cancer cachexia, ophthalmic drugs, systemic lupus erythematosus (SLE), and inflammatory bowel disease (IBD) has drawn the attention of visitors, with multiple pipelines targeting long-term chronic disease markets and unmet clinical needs.

Product quality is the foundation of successful global expansion. With 30 years of industrial-scale experience in biopharmaceuticals, Kexing Biopharm has established mature manufacturing and quality management systems. Its manufacturing line for albumin-bound paclitaxel has received EU GMP certification, and the product has been approved in more than 40 countries and regions.

Looking ahead, Kexing Biopharm will continue to advance the innovation and commercialization of high-quality medicines. Together with partners worldwide, the Company is committed to contributing to better health for people around the world.

"People living with inflammatory bowel disease (IBD) can have varied disease characteristics, presentations, and treatment histories that may shape a unique care pathway, and clinicians need evidence that reflects the range of patients they see," said Dr. Juby Jacob-Nara, Senior Vice President and Chief Medical Officer at Celltrion USA. "We're pleased to share new analyses at ACG that provide additional information about subcutaneous infliximab in Crohn's disease and ulcerative colitis and reflect Celltrion's commitment to advancing clinically meaningful research for the IBD community."

Presentation Details

Both analyses will be presented by Marla Dubinsky, M.D., Professor of Pediatrics and Director of the IBD Center at the Icahn School of Medicine, Mount Sinai, New York.

Post Hoc Analysis of LIBERTY-CD and -UC Studies Following an IV Infliximab Treatment Interruption
Date: Tuesday, Oct. 13, from 2:45-2:55 p.m. CT
Room: Karl F. Dean Grand Ballroom A, Level 4
Abstract Title: "Impact of Prior Anti-drug Antibody Status on Clinical Outcomes Following Subcutaneous Infliximab Initiation After Intravenous Infliximab Interruption: A Post Hoc Analysis of LIBERTY-CD and -UC Studies"
Session: Plenary Session 3A: IBD
Presentation: 40

A separate post hoc analysis evaluated efficacy, serum infliximab concentrations, and immunogenicity among patients from the placebo arms of the Phase 3 LIBERTY-CD and LIBERTY-UC studies who initiated SC infliximab 240 mg every two weeks following an interruption in IV infliximab treatment. Patients were assessed according to whether anti-drug antibodies (ADAs) had been detected before they began SC infliximab.^[2]

Among patients who initiated SC infliximab 240 mg, 72.5% (37 of 51) of patients with Crohn's disease and 92.2% (71 of 77) of patients with ulcerative colitis had prior ADA positivity. The median interval between the last IV infliximab infusion and initiation of SC infliximab was 16 weeks in ADA-positive and ADA-negative patients in both the Crohn's disease and ulcerative colitis groups.^[2]

Across Crohn's disease and ulcerative colitis populations, the analysis found clinical outcomes were generally similar regardless of whether patients had ADAs before starting SC infliximab, with clinical response in Crohn's disease and partial clinical response in ulcerative colitis observed by 8±2 weeks and sustained through 78 to 80 weeks. Serum infliximab concentrations increased after initiation of SC infliximab and were generally comparable over time across ADA-status groups. Levels of fecal calprotectin and C-reactive protein decreased at the first assessment after treatment began and remained lower through the final assessment. ADA positivity declined among patients with pre-existing ADAs, while new ADA development was uncommon in patients without prior ADAs.

"Anti-drug antibodies to intravenous infliximab can compromise infliximab reinitiation after treatment interruption. Data on subcutaneous infliximab initiation after a drug holiday are limited, particularly regarding the impact of prior ADA status on clinical outcomes," said Marla Dubinsky, M.D., Professor of Pediatrics and Director of the IBD Center at the Icahn School of Medicine, Mount Sinai, New York. "These post hoc findings suggest that prior ADA status did not appear to compromise clinical outcomes after initiating subcutaneous infliximab following drug holiday after intravenous infliximab induction."

Late-Breaking Data in Ileum-Dominant Crohn's Disease
Date: Wednesday, Oct. 14, from 9:30-9:40 a.m. CT.
Late-Breaking Abstract Title: "Comparative Efficacy of Subcutaneous Versus Intravenous Infliximab in Ileum-Dominant Crohn's Disease: A Pooled Analysis and Propensity Score-Matched Analysis of Infliximab Registrational Studies"
Session: Plenary Session 4B: Liver, Esophagus, CRC, IBD
Presentation: 72

The late-breaking abstract reports a pooled analysis of individual patient data from four infliximab registrational studies. The analysis included patients with ileal or ileocolonic Crohn's disease who received standard maintenance treatment with SC infliximab 120 mg every two weeks or IV infliximab 5 mg/kg every eight weeks. Of 884 patients across the studies, 200 met the eligibility criteria; a 1:1 propensity score-matched analysis included 70 patients in each treatment group.^[1]

In the matched population at Week 54, patients receiving SC infliximab had higher rates of clinical remission, endoscopic response, and endoscopic remission than those receiving IV infliximab:^[1]

• Clinical remission: 71.4% vs. 51.4% (P = 0.023)
• Endoscopic response: 65.7% vs. 27.1% (P < 0.001)
• Endoscopic remission: 41.4% vs. 17.1% (P = 0.003)

The analysis also found that, in both treatment groups, endoscopic responders had significantly higher serum infliximab concentrations than nonresponders.

About ZYMFENTRA^® (infliximab-dyyb; subcutaneous infliximab)
ZYMFENTRA^® (infliximab-dyyb) is a prescription medicine used as an injection under the skin (subcutaneous injection) by adults for the maintenance treatment of moderately-to-severely active ulcerative colitis following treatment with an infliximab product given by intravenous infusion (IV), Moderately-to-severely active Crohn's disease following treatment with an infliximab product given by intravenous infusion (IV). ZYMFENTRA blocks the action of tumor necrosis factor-alpha (TNF-alpha), a protein that can be overproduced in response to certain diseases and cause the immune system to attack normal, healthy parts of the body.

ZYMFENTRA was approved by the FDA through the Biologics License Application (BLA) under the 351 (a) pathway of the Public Health Service Act (a "stand-alone" BLA). ZYMFENTRA is considered a new biologic with a first-approved subcutaneous administration form and thus will be under patent protection for its dosage form by 2037 and for its route of administration by 2040.

Indication and Important Safety Information

ZYMFENTRA^® is a prescription medicine indicated in adults for maintenance treatment of:

Moderately-to-severely active Crohn's disease following treatment with an infliximab product administered intravenously.
Moderately-to-severely active ulcerative colitis following treatment with an infliximab product administered intravenously.
It is not known if ZYMFENTRA is safe and effective in children under 18 years of age.

What is the most important information I should know about ZYMFENTRA?

SERIOUS INFECTIONS

Patients treated with ZYMFENTRA are at increased risk for developing serious infections involving various organ systems and sites that may lead to hospitalization or death. Discontinue ZYMFENTRA if a patient develops a serious infection or sepsis.

Reported infections include:

• Active tuberculosis (TB), including reactivation of latent TB. Patients frequently presented with disseminated or extrapulmonary disease. Patients should be tested for latent TB before and during treatment with ZYMFENTRA. Treatment for latent infection should be initiated prior to treatment with ZYMFENTRA.
• Invasive fungal infections, including histoplasmosis, coccidioidomycosis, candidiasis, aspergillosis, blastomycosis, and pneumocystosis. Patients may present with disseminated, rather than localized, disease. Empiric anti-fungal therapy should be considered in patients at risk for invasive fungal infections who develop severe systemic illness.
• Bacterial, viral, and other infections due to opportunistic pathogens, including Legionella and Listeria.

The risks and benefits of treatment with ZYMFENTRA should be carefully considered prior to initiating therapy in patients with chronic or recurrent infection. Closely monitor patients for the development of signs and symptoms of infection during and after treatment with ZYMFENTRA, including the possible development of TB in patients who tested negative for latent TB infection prior to initiating therapy.

Risk of infection may be higher in patients greater than 65 years of age, patients with comorbid conditions and/or patients taking concomitant immunosuppressant therapy. In clinical trials, other serious infections observed in patients treated with infliximab included arthritis bacterial, pneumonia, and urinary tract infection.

MALIGNANCIES

Malignancies, some fatal, have been reported in children, adolescents, and young adults treated with TNF blockers, including infliximab products.

Approximately half of these cases were lymphomas, including Hodgkin's and non-Hodgkin's lymphoma. The other cases represented a variety of malignancies, including rare malignancies that are usually associated with immunosuppression and malignancies that are not usually observed in children and adolescents. The malignancies occurred after a median of 30 months after the first dose of therapy. Most of the patients were receiving concomitant immunosuppressants.

Post-marketing cases of hepatosplenic T-cell lymphoma, a rare type of T-cell lymphoma, have been reported in patients treated with TNF blockers, including infliximab products. These cases have had a very aggressive disease course and have been fatal. The majority of reported cases have occurred in patients with Crohn's disease or ulcerative colitis, and most were in adolescent and young adult males. Almost all of these patients had received treatment with azathioprine or 6-mercaptopurine concomitantly with a TNF blocker at or prior to diagnosis. Carefully assess the risks and benefits of treatment with ZYMFENTRA, especially in these patient types.

In clinical trials of all TNF blockers, more cases of malignancies were observed compared with controls and the expected rate in the general population. In clinical trials of some TNF blockers, including infliximab products, more cases of other malignancies were observed compared with controls. As the potential role of TNF blocker therapy in the development of malignancies is not known, caution should be exercised when considering treatment of patients with a current or a past history of malignancy.

Melanoma and Merkel cell carcinoma have been reported in patients treated with TNF blocker therapy, including infliximab products. Periodic skin examination is recommended for all patients, particularly those with risk factors for skin cancer.

CONTRAINDICATIONS

ZYMFENTRA is contraindicated in patients with a previous severe hypersensitivity reaction to infliximab-dyyb, other infliximab products, any of the inactive ingredients of ZYMFENTRA or any murine proteins (severe hypersensitivity reactions have included anaphylaxis, hypotension and serum sickness).

HEPATITIS B VIRUS REACTIVATION

TNF blockers, including infliximab products, have been associated with reactivation of hepatitis B virus (HBV) in patients who are chronic carriers. Some cases were fatal. Patients should be tested for HBV infection before initiating ZYMFENTRA. For patients who test positive, consult a physician with expertise in the treatment of hepatitis B. Exercise caution when prescribing ZYMFENTRA for patients identified as carriers of HBV and monitor closely for active HBV infection during and following termination of therapy with ZYMFENTRA. Discontinue ZYMFENTRA in patients who develop HBV reactivation and initiate antiviral therapy with appropriate supportive treatment. Exercise caution when considering resumption of ZYMFENTRA and monitor patients closely.

HEPATOTOXICITY

Hepatobiliary disorders, including acute liver failure, jaundice abnormal hepatic function, hepatic steatosis, hepatitis, hepatotoxicity, hyperbilirubinemia and non-alcoholic fatty liver, have been reported in patients receiving infliximab products post-marketing. Some cases were fatal or required liver transplant. Aminotransferase elevations were not noted prior to discovery of liver injury in many cases. Patients with symptoms or signs of liver dysfunction should be evaluated for evidence of liver injury. If jaundice and/or marked liver enzyme elevations (eg, ≥5 times the upper limit of normal) develop, ZYMFENTRA should be discontinued and a thorough investigation of the abnormality should be undertaken.

CONGESTIVE HEART FAILURE

Cases of worsening congestive heart failure (CHF) and new onset CHF have been reported with TNF blockers. Some cases had a fatal outcome. In several exploratory trials of other TNF blockers in the treatment of CHF, there were greater proportions of TNF-blocker-treated patients who had CHF exacerbations requiring hospitalization or increased mortality. ZYMFENTRA has not been studied in patients with a history of CHF and ZYMFENTRA should be used with caution in patients with CHF.

HEMATOLOGIC REACTION

Cases of leukopenia, neutropenia, thrombocytopenia and pancytopenia (some fatal) have been reported. The causal relationship to infliximab-product therapy remains unclear. Exercise caution in patients who have ongoing or a history of significant hematologic abnormalities. Advise patients to seek immediate medical attention if they develop signs and symptoms of blood dyscrasias or infection. Consider discontinuation of ZYMFENTRA in patients who develop significant hematologic abnormalities.

HYPERSENSITIVITY AND OTHER ADMINISTRATION REACTIONS

In post-marketing experience, serious systemic hypersensitivity reactions (including anaphylaxis, hypotension and serum sickness) have been reported following administration of infliximab products. If an anaphylactic or other clinically significant hypersensitivity reaction occurs, institute appropriate therapy and discontinue ZYMFENTRA.

INJECTION SITE REACTIONS

In clinical studies, localized injection-site reactions were reported following administration of ZYMFENTRA. If a clinically significant injection-site reaction occurs, institute appropriate therapy and discontinue ZYMFENTRA.

NEUROLOGIC REACTIONS

Agents that inhibit TNF have been associated with central nervous system (CNS) manifestation of systemic vasculitis, seizure and new onset or exacerbation of CNS demyelinating disorders, including multiple sclerosis and optic neuritis and peripheral demyelinating disorders, including Guillain-Barré syndrome. Exercise caution when considering ZYMFENTRA in patients with these disorders and consider discontinuation if these disorders develop.

RISK OF INFECTION WITH CONCURRENT ADMINISTRATION OF OTHER BIOLOGICS PRODUCTS

Serious infections and neutropenia have been reported with concurrent use of ZYMFENTRA with other immunosuppressive biological products. The concurrent use of ZYMFENTRA with other immunosuppressive biological products used to treat UC and CD may increase the risk of infection and is not recommended.

RISK OF ADDITIVE IMMUNOSUPPRESSIVE EFFECTS FROM PRIOR BIOLOGICAL PRODUCTS

Consider the half-life and mode of action of prior biological products to avoid unintended additive immunosuppressive effects when initiating ZYMFENTRA.

AUTOIMMUNITY

Treatment with TNF blockers may result in the formation of autoantibodies and in the development of a lupus-like syndrome. Discontinue ZYMFENTRA treatment if symptoms of a lupus-like syndrome develop.

VACCINATIONS AND USE OF LIVE VACCINES/THERAPEUTIC INFECTIOUS AGENTS

Prior to initiating ZYMFENTRA, update vaccinations in accordance with current vaccination guidelines. Live vaccines or therapeutic infectious agents should not be given with ZYMFENTRA due to the possibility of clinical infections, including disseminated infections. At least a 6-month waiting period following birth is recommended before the administration of any live vaccine to infants exposed in utero to ZYMFENTRA.

ADVERSE REACTIONS

In clinical trials with ZYMFENTRA, the most common adverse reactions occurring in ≥3% of ZYMFENTRA-treated patients included site reactions, COVID-19, anemia, arthralgia, infection site reaction, increased alanine aminotransferase and abdominal pain for UC, and COVID-19, headache, upper respiratory tract infection, injection site reaction, diarrhea, increased blood creatine phosphokinase, arthralgia, increased alanine aminotransferase, hypertension, urinary tract infection, neutropenia, dizziness and leukopenia for CD.

Please click for Full U.S. Prescribing Information.

Globally, prescribing information varies; refer to the individual country product label for complete information.

FORWARD-LOOKING STATEMENT
Certain information set forth in this press release contains statements related to our future business and financial performance and future events or developments involving Celltrion Inc. and its subsidiaries that may constitute forward-looking statements, under pertinent securities laws.
These statements may be also identified by words such as "prepares", "hopes to", "upcoming", "plans to", "aims to", "to be launched", "is preparing", "once gained", "could", "with the aim of", "may", "once identified", "will", "working towards", "is due", "become available", "has potential to", the negative of these words or such other variations thereon or comparable terminology.
In addition, our representatives may make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Celltrion Inc. and its subsidiaries' management, of which many are beyond its control.
Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect to the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them.
Such forward-looking statements necessarily involve known and unknown risks and uncertainties associated with the company's business, including the risk factors disclosed in its Annual Report and/or Quarterly Reports, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such statements.
Celltrion Inc. and its subsidiaries undertake no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws.

Trademarks

ZYMFENTRA^® is a registered trademark of CELLTRION, Inc.

References

1. Dubinsky M, et al. Comparative Efficacy of Subcutaneous Versus Intravenous Infliximab in Ileum-Dominant Crohn's Disease: A Pooled Analysis and Propensity Score-Matched Analysis of Infliximab Registrational Studies. Late-breaking abstract to be presented at the American College of Gastroenterology 2026 Annual Scientific Meeting; Oct. 11-14, 2026; Nashville, Tennessee. Abstract 72.
2. Dubinsky M, et al. Impact of Prior Anti-drug Antibody Status on Clinical Outcomes Following Subcutaneous Infliximab Initiation After Intravenous Infliximab Interruption: A Post Hoc Analysis of LIBERTY-CD and LIBERTY-UC Studies. Abstract to be presented at the American College of Gastroenterology 2026 Annual Scientific Meeting; Oct. 11-14, 2026; Nashville, Tennessee. Abstract 40.

For more information, please visit our website www.celltrion.com/en-us and stay updated with our latest news and events on our social media: LinkedIn, Instagram, X, and Facebook.

Hong Kong SAR's first Five-Year Plan explicitly calls for consolidating and elevating the city's status as an international trade center and better fulfilling its role as a "super connector" and "super value-adder." The Global Sources Hong Kong Shows serve as a concrete platform for advancing this policy, bringing together professional buyers from markets worldwide and helping Chinese mainland brands negotiate directly and match demand on the show floor — translating expansion plans into actionable procurement partnerships and embodying the "Made in Chinese Mainland + Served via Hong Kong SAR" approach to going global.

John Kao, Vice President of Hong Kong Shows & Overseas Shows at Global Sources, said: "The Hong Kong Five-Year Plan and the 2026 Policy Address released this year have clearly charted the city's development trajectory for the next five years — consolidating and elevating its status as an international trade center, better fulfilling its role as a 'super connector' and 'super value-adder,' and actively supporting Greater Bay Area enterprises in going global. This is more than a policy declaration; it is a repositioning of Hong Kong SAR amid the global supply chain realignment: beyond production capacity competition, what truly determines whether an industry can sustain its presence in international markets is the ability to simultaneously deliver manufacturing capability, compliance capability, and trust. The Global Sources Hong Kong Shows serve as the concrete platform for translating this national strategy into action — enabling Chinese mainland manufacturing to connect with international standards and professional buyers via Hong Kong SAR, forming a sustainable and replicable 'Made in Chinese Mainland + Served via Hong Kong SAR' pathway for going global. This edition of the shows is a timely illustration of this direction: the Asian Games esports boom and the EU's new compliance regulations are counting down in parallel, offering the most tangible demonstration of Hong Kong SAR's role in 'bridging standards and adding value through trust.' Brands need not rely solely on traffic to go global; instead, using Hong Kong SAR as a launchpad, they can complete the international alignment of product competitiveness, regulatory compliance, and delivery capability — all at once."

Esports Boom Bridges Tournament Excitement and Industry Procurement; Gaming-Meets-Everyday Becomes a New Sourcing Frontier

2026 marks Hong Kong SAR's "year of esports blockbusters." In February, the LCK Cup finals made their debut at Kai Tak Arena. Last month, the Hong Kong SAR team competed in the Nagoya Asian Games esports events and brought home two bronze medals. Come November, the BLAST tournament returns to AsiaWorld-Expo. With international top-tier events landing in succession and strong Asian Games results, esports is advancing on all fronts toward industrialization, elite development, and mega-event hosting. Tournaments generate more than audiences and traffic — they directly drive procurement demand for professional-grade gaming hardware, marking esports' formal transition from a spectator phenomenon to an industrial economy. At the same time, hybrid work has become the established norm, and the line between office productivity and gaming performance has largely dissolved. Desktop setups that serve both work and entertainment are increasingly popular, giving rise to the "desk setup economy." As the first major gaming product sourcing exhibition following the Asian Games, the Global Sources Hong Kong Shows are ideally positioned to bridge tournament momentum with hardware procurement demand, helping Hong Kong SAR integrate into the Greater Bay Area's esports supply chain.

The Greater Bay Area is a leading global manufacturing base for PC peripherals, accounting for more than half of the world's keyboard and mouse OEM output and over 70% of global game controller shipments. Hong Kong SAR, leveraging its free-port advantages, serves as the international procurement and cross-border trade gateway connecting GBA manufacturers with overseas buyers — enabling "Made in the GBA" tournament-grade equipment to reach global markets via Hong Kong SAR. The show floor features more than 1,600 PC accessory booths and nearly 500 gaming peripheral booths. A roster of leading GBA-origin brands — including Loctek, CE-LINK, RXGAMER, Brateck, Havit, AULA, MCHOSE, ATK, TITAN, and Huntkey — will showcase products spanning high-refresh-rate monitors, mechanical keyboards, gaming headsets, ergonomic chairs, chassis, controllers, and monitor arms, offering a complete desk setup from office to gaming in a single sourcing visit — without splitting procurement efforts across multiple events. Nearly 1,900 additional booths feature audio-visual equipment, automotive electronics, personal transporters, photography accessories, and batteries & power consumer electronics products.

Compliance-First Sourcing Becomes a Procurement Imperative; Batteries & Power Zone Helps Buyers Prepare for EU Regulations

Another focal point is the tightening export compliance environment. The EU's new Battery Regulation (EU 2023/1542) mandates that, starting February 18, 2027, certain battery products must carry a Digital Product Passport (DPP) disclosing roughly 90 data points, including carbon footprint, recycled content, and full supply chain traceability. DPP requirements for electronics will follow in phases under the Ecodesign for Sustainable Products Regulation (ESPR), putting exporters on a clear and accelerating compliance timeline. For European buyers, this means supplier evaluation now extends well beyond product performance to include data traceability and regulatory readiness at the product selection stage.

The Phase I power supply and charging accessories zone features fast-charging, wireless charging, and energy storage products from suppliers who have already put compliance frameworks in place. Multiple exhibitors have proactively developed products and solutions addressing the EU's new Battery Regulation, carbon footprint requirements, and other international compliance standards. Buyers can assess suppliers' DPP readiness on-site and get a head start on export certification and customs clearance planning — significantly compressing the decision cycle from product selection to compliant order placement.

Best of Innovation Awards and Global Sources Summit Run Concurrently; VR Immersive Experiences Draw Crowds

The show hosts the Best of Innovation Awards ceremony, judged by a panel comprising industry association experts, technology media representatives, standards body authorities, senior buyers, and the Global Sources professional jury. Phase I recognizes 20 award-winning exhibitors, with a focus on the consumer electronics sector. Two curated zones — the Best of Innovation Awards Winners Showcase and the Future Tech Discovery Zone — enable global buyers to compare innovative products and inspect samples side by side. On the experiential side, a VR immersive experience zone presented in partnership with VR Star Space offers interactive titles including Star Racing and Star Cyclone, while gaming peripheral brand MCHOSE hosts a Gaming & eSport Arena with hands-on gameplay. Multiple new product launch events will take place concurrently, with several heavyweight products making their global or Asia debut.

The Global Sources Summit also runs alongside the exhibition, featuring experts and certification body representatives from organizations including VTC, Hong Kong Science Park, Tencent, Airoma AI, and SGS to explore cutting-edge industry topics. Summit content centers on consumer electronics and the esports industry, examining how AI is redefining gaming, hardware design, and supply chain planning; how to build smarter, more trustworthy connected devices; and how to navigate global cost pressures, sustainability requirements, and European compliance standards.

Zoomlion is developing its construction, agricultural and mining machinery businesses across three major global equipment markets. Its mining portfolio covers excavation, loading, haulage, crushing and screening.

Flagship models include the ZE4000G, a 400-tonne mining excavator, and the ZTE520 hybrid electric-drive mining truck, with a rated payload of 300 tonnes.

Zoomlion's mining engineering roots stretch back decades. In 1987, its predecessor, the Changsha Construction Machinery Research Institute, received a State Council award for developing a complete open-pit mining system capable of handling 10 million tonnes a year.

Zoomlion attributes the recent growth of its mining business to its focus on lowering equipment operating costs through continual product development, real-world testing and new technologies.

The company develops its equipment based on conditions in operating mines. In a previously reported six-month period, Zoomlion's research teams visited around 150 mines worldwide, identifying and addressing more than 50 technical challenges and incorporating field findings into product development.

"We calculate operating costs across the full equipment lifecycle so customers can see the economic benefit," said Wu Yuanfeng, deputy general manager of Zoomlion Mining Machinery. "Our pure-electric products can cut costs by more than 50%, and hybrid models can improve profitability by 15% or more, helping mines move toward more efficient, higher-quality operations."

Electrified mining equipment is also a growing focus for Zoomlion. Its hybrid mining trucks can cut fuel consumption by up to 40%, while its 100-tonne-class battery-electric mining trucks have logged more than 8,000 hours of stable operation. Its ZT160HEV hybrid mining truck can support up to 18 hours of continuous autonomous operation.

Zoomlion is also using automation and digital technology to improve mine productivity. The company has deployed autonomous trucks, remotely operated excavators and a system to coordinate mining fleets. At a large open-pit metal mine in northern China, the system increased average daily trips per truck by over 10%, according to Zoomlion.

The business has also gained traction across several international markets, with electrified equipment delivered to coal mines in Indonesia, open-pit mines in Argentina and projects in Ecuador and several African countries.

In the first half of 2026, Zoomlion's international revenue reached RMB 15.535 billion, up 12.45% year on year. International business accounted for 57.25% of total revenue, an increase of 1.67 percentage points from a year earlier. The company said growth in South America, Europe, Southeast Asia, Africa and East Asia outpaced its overall international growth rate.

To support its international business, Zoomlion is strengthening localized manufacturing, sales and service capabilities. As of June 30, 2026, it operated more than 30 primary business hubs, over 530 secondary and tertiary outlets, and more than 300 spare parts warehouses worldwide. Its Hungarian aerial work platform factory began production, while its German facility was expanded and upgraded into a multipurpose hub.

"Our overseas front-line operations and back-office teams are now digitally connected, enabling seamless 24-hour coordination," said Liu Jianqiang, Zoomlion's marketing director and deputy general manager of its overseas business.

The expansion of mining machinery and the continued growth of international operations are broadening Zoomlion's sources of revenue. In the first half of 2026, its mining machinery business grew by more than 57.20% year on year, while the company continued to build localized capabilities in overseas markets.

This clearance marks a significant milestone for RingConn in the FDA-cleared wearable health device space. RingConn has undergone FDA regulatory review and has been determined to be substantially equivalent to legally marketed predicate devices for non-invasive measurement of blood oxygen (SpO2). This clearance provides compliance assurance for RingConn's expansion into the U.S. healthcare and wellness market, and further strengthens its technical foundation in health monitoring applications for smart rings.

Blood oxygen (SpO2) is a key physiological indicator of respiratory and circulatory function, and continuous, convenient blood oxygen monitoring is of great significance for daily health tracking and physiological condition monitoring. RingConn uses PPG sensor technology and other advancements to achieve non-invasive blood oxygen (SpO2) measurement, integrating professional-grade monitoring capabilities into an everyday wearable form factor. RingConn continues to conduct clinical research related to blood oxygen monitoring, building a solid data foundation for clinical validation of the product.

To date, RingConn has obtained multiple international authoritative certifications, including EU CE, U.S. FCC, Japan MIC, UK UKCA, and Australia RCM. The product is available in more than 190 countries and regions worldwide.

Sri Lanka is expanding renewable generation, with the country's long-term power plan targeting 70% of electricity generation from renewable energy sources by 2030, led by solar and wind. As the share of variable renewable generation grows, the power system requires more flexible resources that can respond quickly to fluctuations in supply and changing demand patterns. Electricity demand typically reaches its daily peak at around 7 p.m, placing additional pressure on the grid during the evening. Against this backdrop, Sri Lanka's power-sector planning has identified utility-scale battery energy storage as an important grid-support technology for maintaining system reliability and enabling greater renewable energy integration.

PowerTitan 2.0 Designed for Local Project Requirements

• End-to-end intelligent management: The system integrates station-level control with intelligent battery management, continuously tracking battery status and optimizing operation to support system stability and long-term performance.
• Full-stack pre-commissioning capability: PowerTitan 2.0 integrates the battery system and PCS into an all-in-one AC-DC block, with key components pre-assembled before delivery. This simplifies on-site installation and commissioning, contributing to a 50% reduction in grid-connection time.
• Built for a challenging coastal environment: Located approximately 500 meters from the sea, the project operates in a hot, humid and corrosive environment. PowerTitan 2.0 is designed to withstand challenging environmental conditions, supporting reliable long-term operation. The system is designed for an operational life of at least 15 years.

The project strengthens the grid's peak-shaving and frequency-regulation capabilities, providing fast and flexible support as electricity demand and renewable generation fluctuate. By storing electricity when supply is available and dispatching it when needed, the BESS can help improve system efficiency, enhance supply reliability and create greater flexibility to integrate renewable energy.

"The commissioning of this Project is not only a technological milestone but a national achievement. By partnering with Sungrow, we have demonstrated how foresight, innovation, and collaboration can reshape Sri Lanka's energy landscape. This project is a testament to what can be accomplished when industry leaders work together toward a shared vision of sustainability and resilience," said Sudath Pathmal, chief Operating Officer of WKV Group.

Accelerated Delivery Through Close Coordination

The project set a benchmark for rapid, high-quality delivery in challenging conditions. From thermal commissioning to pre-SAT, the project was completed in just one week, followed by formal SAT and commercial operation within five days. The accelerated delivery was supported by:

• Proactive pre-project enablement: Technical parameters were pre-configured, with auxiliary power, liquid-cooling inspections, and grid-connection planning completed ahead of commissioning to minimize on-site delays.
• On-site cross-team support: Sungrow's technical and delivery experts provided on-site support through SAT and COD, helping WKV complete testing and transition into commercial operation within the compressed schedule.

The project demonstrates Sungrow's ability to combine integrated technology, coordinated project execution and hands-on customer support to address the practical demands of utility-scale energy storage projects. Building on its experience across global markets, Sungrow will continue to support customers in deploying reliable energy storage solutions that enhance grid flexibility and enable greater renewable energy integration.

• Address: 80 Middle Road, Singapore 188966

• Transit: 20 minutes from Changi Airport; steps from Bugis MRT Station

• Dining Destination: Man Fu Yuan, LUCE, The Lobby Lounge

• Event Space: 8 event rooms including the pillarless Grand Ballroom

The issuer is solely responsible for the content of this announcement.

With bags priced from S$106, the pop-up offers Singapore shoppers an opportunity to discover the brand in person: feel the soft quilting, compare sizes and colours, and find a bag for work, family outings or weekends away. Customers purchasing at the event will also receive a complimentary, non-retail mirror, while stocks last.

From a Japanese favourite to an everyday companion in Singapore

Nubi is a traditional quilted fabric long used in Korea for bedding and household textiles. Recognising its durability, ease of washing and lightweight comfort, pionunnal gave the fabric a new purpose as a bag. By combining this traditional textile with fine stitching by Japanese artisans and refined design, the brand created a new category of "Nubi bags" with a distinctive appeal beyond the conventional tote.

Following the brand's launch, social media brought attention to a fresh style: lesson bags designed for adults. Traditionally associated with children carrying supplies to classes and activities, the lesson bag became a fashion accessory for adults through pionunnal's high-quality materials and clean, simple designs, which complement everything from casual looks to more polished outfits.

The brand's first department store pop-up at Isetan Shinjuku drew a strong response, with customers queuing outside the department store on opening day. Through subsequent pop-ups at major department stores across Japan and collaborations with brands and companies, pionunnal helped establish a new culture of enjoying a second bag as part of an outfit, becoming a driving force behind the second-bag trend and opening up a new fashion category.

A new bag with a Singapore connection

The event's new release, bonbon (S$172), takes its inspiration from the mandarin oranges exchanged during Chinese New Year visits as symbols of good fortune and prosperity. It introduces an organza drawstring closure and velvet cord to pionunnal's Nubi designs, giving the softly rounded bag a more decorative finish.

An adjustable, detachable strap allows bonbon to be carried as a shoulder bag or a compact mini bag. Measuring 280 mm wide, 120 mm deep and 150 mm high, it can carry mandarin oranges for festive visits, while also fitting into everyday outings and meals with friends. The Singapore event offers advance sales of bonbon, with a launch in Japan planned to follow.

Styles for different parts of the day

Alongside bonbon, visitors can explore MILK (S$106), a compact companion for essentials; PIANO (S$112), a clean-lined tote that accommodates B4 documents, magazines and a laptop; and GARDEN (S$235), a roomy, rounded bag with two handle lengths and two deep interior pockets.

MOANA (S$192) and MOANA mini (S$166) pair a clear PVC outer bag with a Nubi tote. Each can be used separately or together, offering three carrying arrangements for city outings, pool visits and holidays. For those drawn to a structured silhouette, LADY (S$252) combines a square silhouette, satin lining and a base insert.

The brand name means "a rainy day" in Korean and expresses the idea that rainy days can still be enjoyable. In Singapore, the pop-up gives that philosophy a new setting, with designs intended to accompany the many different moments of everyday life.

Event information
pionunnal
POP UP STORE from Tue 13 Oct to Sat 31 Oct 2026
Available at Ladies' Accessories, Level 1 (near main entrance), Takashimaya Department Store

Customers purchasing at the pop-up will receive a complimentary mirror, while stocks last. Gifts cannot be reserved. For the product line-up and further information, visit the official website.

https://pionunnal.shop

The issuer is solely responsible for the content of this announcement.

Key achievements during 2025 include:

• Reducing Scope 1 and 2 carbon emissions by 14% since 2021, progressing towards De Beers Group's science-based target to reduce its carbon footprint by one third by 2030.
• Supporting 2.6 jobs offsite for every one job created onsite, as the Group works towards its ambition to support four offsite jobs for every onsite role by 2030.
• Managing 375,000 acres of land for conservation across Southern Africa, alongside continued investment in nature-positive initiatives and biodiversity conservation.
• Supporting the designation of Angola's first Ramsar Wetland, helping protect the source of 95% of the water flowing into the Okavango Delta through the Okavango Eternal partnership with National Geographic.
• Achieving the safest year in De Beers Group's history, with a 19% reduction in Total Recordable Injury Frequency Rate compared with 2024 and zero work-related fatalities.
• Passing the milestone of five million rough diamonds individually scanned on Tracr, strengthening transparency and traceability across the natural diamond value chain.
• Training a further 500 women through EntreprenHER, delivered with UN Women and government partners, taking the total number of women trained through the programme to more than 3,900 since 2016.
• Committing to invest US$70 million to the Diamonds for Development Fund in Botswana, supporting the country's ambition to accelerate long-term economic diversification.

• Today, De Beers' conservation efforts are helping to protect vast swathes of land and keystone species across Southern Africa. Overall, De Beers Group manages 375,000 acres of land for conservation, and continues to explore scalable, nature-positive models across its conservation properties.
• The Okavango Eternal partnership with National Geographic reached a major milestone with the designation of Angola's first Ramsar Wetland, helping protect the source of 95% of the water flowing into the Okavango Delta, the world's largest inland delta and one of the most biodiverse areas in Africa.
• With Debswana, a joint enterprise between the Government of the Republic of Botswana and De Beers Group, De Beers celebrated the birth of the 70th rhino calf born safely on our nature reserves in Botswana since our rhino conservation efforts began in 2012, while the Group also successfully translocated 31 rhinos to support wider rewilding efforts in the region.

• De Beers Group has reduced its Scope 1 and 2 carbon emissions by 14% since 2021, progressing towards the Group's SBTi-approved targets to reduce its carbon footprint by a third by 2030.
• As part of its focus on reducing carbon emissions, De Beers Group is proud to support Envusa, which brings 520MW of renewable energy to southern Africa, from solar and wind. Envusa forms part of a broader portfolio of climate initiatives designed to reduce emissions across the natural diamond value chain in a transparent and responsible way.
• Other examples of this work include advancing trials to create 'drop in' biofuels, progressing pioneering tyre circularity initiatives with Anglo American and Sasol, and supporting Kelp Blue, an award-winning startup that grows Giant Kelp on a large-scale off the coast of Namibia, to help sequester carbon, support the re-wilding of oceans and create a range of jobs and products that support the local economy.

• The Stanford Seed programme, which focuses on providing leadership training, management coaching and networking tools to help SMEs in De Beers' southern African diamond producing partner countries grow, has now supported 128 businesses since launch.

• The EntreprenHER programme, run in partnership with UN Women to support opportunities for female entrepreneurs in diamond producing partner countries, trained a further 500 women in 2025, taking the total number of women trained since 2016 to 3,900.
• Overall, for every job that we created onsite, De Beers supported 2.6 jobs offsite in 2025, continuing towards the Group's commitment to support 4 jobs offsite for every 1 job onsite by 2030.

• The Group marked the 20th year of its Best Practice Principles programme, a rigorous set of standards, compliance with which is third-party audited.

• • The programme covers around a quarter of a million people across more than 70 countries – including all De Beers Group operations globally, as well as all Sightholder customers and their diamond-related contractors.

• The Group also ensured 100% of its precious metal suppliers met rigorous sourcing standards to supply gold, platinum, and silver to its De Beers London and Forevermark retail brands.

• With regards to traceability, Tracr passed the milestone of five million rough diamonds being individually registered on the blockchain-backed diamond traceability platform
  • Tracr also established a new partnership with Sarine to integrate rough diamond source registration with advanced scanning data, helping to create an end-to-end, cost-effective traceability solution to verify a diamond's journey.
  • The Tracr platform also provided the traceability backbone for the De Beers London capsule collection using GemFair diamonds developed in 2025, demonstrating that artisanally mined diamonds can be purchased ethically and transparently by luxury brands.
  • These developments help provide greater confidence to consumers, retailers and industry partners in a diamond's provenance and journey through the value chain.

The issuer is solely responsible for the content of this announcement.

Key facts

• Milestone: 100th Big Apple Donuts & Coffee store in Malaysia
• Opened: Saturday, 10 October 2026, at IOI Mall Puchong, Selangor
• Offer: Ola Pandan and Dreamy Pandan at RM1 each, all outlets nationwide, until 31 October 2026, while stocks last (100 pieces per store per day, in-store only)
• Heritage: first store opened in 2007 at The Curve, Mutiara Damansara
• Franchise: Big Apple welcomes new franchise partners
• 2027 plans: another 10 stores across Malaysia

The issuer is solely responsible for the content of this announcement.

HKTDC Associate Executive Director Silas Chu said:

"Last month, the Hong Kong SAR Government unveiled the Policy Address and first Five-Year Plan, setting out a vision for building a green and liveable city. Across the region and beyond, China, the European Union and many ASEAN economies are actively pursuing carbon-neutrality or net-zero emission targets, and driving decarbonisation through regulations and industrial policies. Green transformation has shifted from policy aspiration to market rule. As global demand for ESG and green solutions continues to grow, Eco Expo Asia will bring together green technologies, innovative solutions, and global business opportunities to help enterprises capitalise on the new prospects emerging from this transition."

He added, "This year's Eco Expo Asia brings together over 340 exhibitors from 16 countries and regions, including first-time participants from Indonesia, Laos, Myanmar, the Philippines, Thailand, and Vietnam, highlighting the Expo's growing international reach. Some 200 key officials and representatives of semi-official organisations from the Chinese Mainland, Hong Kong, Belt and Road countries, and ASEAN, will attend and tour the Expo, further promoting cross-regional cooperation and exchange."

Speaking at the press conference, the Deputy Director of the Environmental Protection Department of the HKSAR Government, Dr Vanessa Au, expressed:

"The 21^st edition of Eco Expo Asia, held under the theme 'Connecting the World for a Sustainable Future', dovetails with the HKSAR Government's First Five-Year Plan, and implements the Policy Address precisely aligning with the National 15^th Five-Year Plan. It underscores our commitment to advancing Hong Kong's green transformation, fostering green innovation, seizing the opportunities presented by the low-carbon economy, creating economic benefits and enhancing citizen well-being. Key highlights of this year's expo include the HKSAR Government booth, the Environmental Campaign Committee Pavilion, the Hong Kong Pavilion and the newly established comprehensive experience zone for green technology. This year during the expo, the Environment and Ecology Bureau and the Ministry of Ecology and Environment of the People's Republic of China will, for the first time, co-host the Belt and Road Green Innovation Conference in Hong Kong. In addition, the Environmental Protection Department, in association with the Belt and Road Initiative International Green Development Coalition and the Chinese Academy of Sciences, will jointly organise the second edition of the 'Green Silk Road' International Training Programme. This expo brings together stakeholders from all sectors, uniting our efforts to advance global carbon neutrality and sustainable development."

Businesses show continued strong confidence in Hong Kong as an ESG business hub

The HKTDC has also released the "HKTDC ESG Index 2026". The latest ESG Index stood at 67.3, up from 64.2 last year and well above the neutral threshold of 50, reflecting the continued strengthening of corporate confidence in Hong Kong's role as an ESG hub. The survey also showed that 93% of respondents have integrated ESG into their overall business decision-making processes, while the share of businesses sourcing or selling ESG-related products and services rose from 29% in 2025 to 46% in 2026.

Silas said, "The rise in the ESG index reflects the continued strengthening of global businesses' confidence in Hong Kong's role as an ESG business hub. Results further demonstrate that ESG is increasingly being built into business decisions on investment, sourcing, and supply chain management, fuelling steady growth in demand for ESG products, services and solutions. ESG has evolved beyond a compliance requirement into a source of competitive advantage for companies."

With strong demand for ESG solutions, Hong Kong is well positioned to unlock commercial opportunities across banking and finance, professional services, and innovation and technology. In terms of technological innovation, surveyed businesses identified the most impactful Hong Kong digital and ESG platforms for boosting performance as sustainable supply chain platforms (45%), AI analytics (37%), and cloud data reporting (30%). On supply chain management, respondents most valued Hong Kong's ESG certification services (50%), followed by transparency and traceability tools (41%), and ESG audit and risk analysis solutions (36%).

Pavilion line-up expands with ASEAN and Qinghai Pavilion debuts

Eco Expo Asia brings together green innovations and technologies from around the world, offering the industry a platform to exchange ideas and explore new business opportunities. This year, the number of participating pavilions has risen to 18, covering a wider spread of regions. On the Chinese Mainland front, Qinghai Province makes its first appearance with a pavilion of its own, joined by the nine Chinese Mainland cities in the Greater Bay Area, Macao, Guangxi, Hunan, Shanghai, and Nanjing in Jiangsu Province.

Among the international group pavilions, the headline addition is a new ASEAN Pavilion, featuring 13 green technology companies from eight member countries, including Singapore, Laos, Malaysia, Myanmar, the Philippines, Indonesia, Thailand, and Vietnam. An ASEAN networking reception on the opening day will further strengthen business ties with the region. In addition, Korea Institute of Fusion Energy (KFE), bringing two companies, will showcase their marine environmental technologies and waste gas treatment equipment. The US State of Illinois returns after several years, while Canada, Italy, and the Netherlands maintain their regular presence.

Regarding Hong Kong exhibitors, the Hong Kong Science and Technology Parks Corporation once again leads 11 start-ups to the Expo to showcase local green innovation achievements. The Hong Kong Pavilion, supported by the Environmental Protection Department and coordinated by the Federation of Hong Kong Industries, is back with 19 local exhibitors presenting a diverse range of eco-friendly products, technologies and solutions. Rounding off the home-grown line-up, the HKSAR Government booth, featuring 11 bureaux and departments including the Environment and Ecology Bureau, and the Environmental Campaign Committee Pavilion, will highlight the city's latest work in environmental protection and green development.

As a member of the HKSAR Government's GoGlobal Task Force, the HKTDC will set up a GoGlobal Connect Zone, helping Chinese Mainland environmental enterprises tap international markets through Hong Kong's professional services. A seminar on going global rounds out the programme, sharing practical experiences in expanding overseas.

Four thematic areas spotlight green innovation

Aligned with global trends and policy directions, this year's Expo centres on four areas: Green Energy in Motion, Frontier Green Tech, Building for a Greener City and From Waste to Worth, showcasing the latest innovative green technologies, products, and solutions.

Under"Green Energy in Motion", the Expo features green energy solutions spanning the maritime, land transport and aviation sectors. Echoing the call in the Policy Address and Hong Kong's First Five-Year Plan to build a Sustainable Aviation Fuel (SAF) industry chain, EcoCeres Ltd. (Booth: 3-F30), a global leading SAF producer, makes its Expo debut with its advanced renewable SAF made from waste materials, alongside Hydrotreated Vegetable Oil (HVO). The Hong Kong Science and Technology Parks Pavilion (Booth: 3-E02) will also focus on energy, with start-ups presenting innovations such as EV chargers and modular EV conversion technology.

Under the "Frontier Green Tech" theme, around 30 start-ups and university spin-offs will show how research achievements have been transformed into practical environmental applications. Among them, first-time exhibitor Stellerus Technology Limited (Booth: 6-D27) will display the Multi‑Spectral Imaging Carbon Observatory (MUSICO), the world's first lightweight, high‑resolution, high‑precision synergistic greenhouse gases observatory, which has already been deployed on China's Tiangong space station. MUSICO monitors greenhouse gas emissions, supporting enterprises in formulating emission-reduction measures and supplying precise data to green finance institutions.

In keeping with the "building a green and liveable city" policy direction under Hong Kong's Five-Year Plan, the "Building for a Greener City" theme gathers a host of innovations now in real-world use. Green Vigor Limited (Booth: 3-E02) will exhibit a modular hydropower system that converts wasted hydraulic resources from water tanks and cooling systems in buildings into electricity, a solution already in use in local shopping malls, commercial buildings and schools. AEC GreenTech Innovations Limited (Booth: 3-C20) brings a robot designed for plastering and paint spraying, which works at least five times faster than manual labour while halving material use, delivering environmental benefits. The technology has been adopted in local construction projects.

The fourth area, "From Waste to Worth", assembles a number of leading Chinese Mainland enterprises in the waste management sector, including Chongqing Sanfeng Environment Group (Booth: 3-E30), named among Top 50 Environmental Enterprises in China and the Top 10 Influential Enterprises in China's Solid Waste Industry, as well as listed environmental companies Dynagreen Environmental Protection Group (Booth: 3-B30) and Beijing Enterprises Environment Group (Booth: 3-D30), showcasing their waste management and resource circular solutions. Hong Kong-based Green AI Technology Limited (Booth: 3-E26) will launch REV, its new generation of the unmanned recycling station at the Expo, demonstrating how AI and automation can be applied to recycling.

Over 30 key events to gather experts from government, industry, academia and research

More than 30 forums and seminars will be held during the Expo, bringing together over 80 government officials, industry leaders and business representatives from the Chinese Mainland, Australia, Malaysia, Thailand, and other Belt and Road countries to share insights on green opportunities, success stories and forward-looking strategies.

The annual flagship event, Eco Asia Conference, will also feature a series of seminars centred on four key themes, with industry and academic experts presenting the latest developments. On 26 October, Professor Su Hui, Chair Professor in the Department of Civil and Environmental Engineering at HKUST, who spearheaded the development of MUSICO, will join Professor Kenneth Leung, Director of the State Key Laboratory of Marine Environmental Health at CityUHK, to discuss technologies for monitoring extreme weather and explore Hong Kong's role as a regional green innovation hub. On 27 October, representatives from the Construction Industry Council and China State Construction Engineering (Hong Kong) Ltd will examine green building development from the perspectives of policy, certification and practice.

On 28 October, Avinash Persaud, Special Advisor on Climate Change to the President of the Inter-American Development Bank (IDB) and a member of the High-Level Expert Group on Climate Finance for the COP26, 27 and 28 Presidencies, will take to the stage. Drawing on his extensive experience spanning international finance, public policy, and climate finance, he will analyse emerging global trends in the field.

Public Dayinvites everyone to embrace green lifestyles

The final day of the Expo (29 October) will be Public Day, with free admission for the public, aiming to raise awareness of environmental protection and sustainability and to encourage the adoption of green lifestyles. A series of seminars on climate, environmental protection and food waste upcycling will be held that day. Speakers include representatives from the Hong Kong Observatory, Hong Kong meteorologist and former Assistant Director of the Hong Kong Observatory Leung Wing Mo, and guests from Ways Out HK, a local social enterprise that turns food waste into jewellery. Visitors can also take part in interactive workshops, including a recycled paper making workshop, green cleaners making workshop and green mini games, enabling participants to learn hands-on how to put resource recycling and green living into practice.

Register now : https://tinyurl.com/33s7wf64

https://www.hktdc.com/event/ecoexpoasia/en

The issuer is solely responsible for the content of this announcement.

Against this backdrop, WHS President Axel R. Pries emphasized the need for innovation and collaboration: "Past achievements and continued progress in global health are increasingly challenged by multiple and overlapping crises. To build resilient, effective, and equitable health systems, we need innovation across biomedicine and technology, financing, delivery, and political coordination. This requires partnership and trust within and beyond the health sector and is at the heart of the World Health Summit 2026 leitmotif."

Announcements and new pledges during the official WHS press conference:

• Diene Keita, Executive Director of UNFPA, highlighted the Government of Bangladesh's landmark investment of 250 million euros in women's health, supported by the European Investment Bank.

• John-Arne Røttingen, CEO of Wellcome, launched the Wellcome Global Monitor 2026, which shows trust in science has fallen since the COVID-19 pandemic.

• Ilana Ron Levey, Managing Director at Gallup, shared findings from the State of the World's Emotional Health 2026 Report, examining the relationship between social media use and emotional well-being.

The issuer is solely responsible for the content of this announcement.

Morningstar DBRS is a global credit rating agency with coverage across North America, Europe, Asia, and Latin America. Its assessment of Verdant Rock reflects the company's strong projected earnings ability, robust risk profile, sound liquidity, and good capitalization. Morningstar DBRS also assigned an A (low) Issuer Rating to Verdant Rock. The rating follows Verdant Rock's BBB+ Long-Term Insurer Financial Strength Rating with a Stable Outlook from Fitch Ratings, assigned on 12 June 2026. Verdant Rock now holds Financial Strength Ratings from both Fitch Ratings and Morningstar DBRS, providing counterparties with dual-agency confirmation of the company's investment-grade standing.

Verdant Rock's guarantees are designed for beneficiaries with investment-grade mandates. Banks and insurers that hold guaranteed paper issued by Verdant Rock may reference both the Fitch Ratings and Morningstar DBRS ratings as independent, agency-confirmed assessments of the company's investment-grade standing. The Morningstar DBRS A (low) Financial Strength Rating adds a second layer of external validation to the security architecture behind each guarantee Verdant Rock issues.

" Receiving an A (low) Financial Strength Rating from Morningstar DBRS six months after our BMA license is a result we are proud of. Morningstar DBRS assessed our projected earnings ability, risk profile, liquidity, and capitalization, and reached a conclusion consistent with what we have been telling counterparties since we launched: that Verdant Rock is built on sound structural foundations. We now hold Financial Strength Ratings from two internationally recognized agencies. For any counterparty that requires dual-agency confirmation before it can accept a financial guarantee, that question is answered." - Tolga Uzuner, Co-Founder and Chief Executive Officer, Verdant Rock Limited

The issuer is solely responsible for the content of this announcement.

The issuer is solely responsible for the content of this announcement.

Angela Yang, partner, Corporate Finance PwC Vietnam

As Vietnam’s capital market matures, investors are looking not only at whether the economy can grow, but also at whether they can deploy and manage capital efficiently over the long term.

This reflects a wider global shift. PwC’s 2025 Global Investor Survey covering 1,074 professionals across 26 countries and territories found that investors are prioritising resilience, technology-enabled transformation, credible governance, and greater transparency around financial and non-financial performance.

In terms of sectors, we continue to see strong interest in advanced manufacturing, industrial and logistics infrastructure, technology-related businesses, and the broader digital economy. Energy transition is also attracting growing attention, particularly as Vietnam pursues its net-zero commitments and expands renewable energy capacity.

At the same time, they are increasingly interested in businesses that can benefit from rising domestic consumption, healthcare demand, and long-term productivity improvements. These themes align with broader global trends around digital transformation and resilience.

Ultimately, the conversation has shifted from whether Vietnam can grow to whether investors can access that growth efficiently, transparently, and at scale. Foreign institutional investors can play a much broader role than simply providing capital. One of their most important contributions is improving market quality.

Firstly, greater participation can enhance market liquidity and price discovery while helping broaden the investor base. This is particularly valuable as Vietnam seeks to deepen its capital market and reduce reliance on retail participation alone.

Secondly, foreign institutions often bring higher expectations around governance, transparency, and disclosure. As active shareholders, they frequently encourage improvements in board oversight, communications, risk management, and capital allocation discipline. These improvements can benefit the overall market ecosystem and increase confidence among both domestic and international backers.

Thirdly, foreign institutions can help drive the development of more sophisticated financial products and investment vehicles, including exchange-traded funds, bond funds, infrastructure funds, and sustainable finance products. This diversification supports a more balanced financial system and provides businesses with a broader range of long-term funding sources.

The potential pool is significant. PwC projects that global assets under management could increase from $139 trillion in 2024 to $200 trillion by 2030, underscoring the importance of positioning Vietnam as a credible destination for these long-term allocations. Private markets are also expected to represent more than half of asset-management industry revenues by 2030.

Importantly, institutional investors bring not only capital but also expectations. Their due diligence, stewardship, and reporting requirements can encourage companies to strengthen board oversight, minority shareholder protection, and sustainability-related disclosure. These improvements can benefit the market as a whole, including domestic investors.

Vietnam has already made important progress in improving foreign investor access. The easing of the full pre-funding requirement for foreign institutional investors and the introduction of a formal failed-trade mechanism were central to FTSE Russell’s recent decision to upgrade Vietnam’s stock market.

Going forward, however, long-term investors are likely to place greater emphasis on predictability, governance, and market infrastructure than on access alone. Institutional financial backers typically allocate capital over multi-year horizons and therefore require confidence in regulatory consistency, shareholder protection, disclosure standards, and market transparency.

Rather than relying solely on incentives, policymakers may wish to focus on strengthening the overall investment environment. Continued enhancements in settlement infrastructure, custody arrangements, foreign exchange mechanisms, securities lending frameworks, and protection could all contribute to making Vietnam a more attractive destination for long-duration capital. The objective should not be to encourage investors to stay through administrative measures. Rather, it should be to create a market environment where they choose to remain because of confidence in the market’s long-term fundamentals and operating framework.

One key priority in the next 3-5 years is continuing to modernise market infrastructure. Efficient clearing and settlement mechanisms, risk management tools, and further alignment with international market practices will remain important.

A second priority is strengthening corporate governance and disclosure standards. Accelerating the adoption of international reporting practices, improving transparency, and ensuring consistent enforcement can help increase confidence.

Thirdly, Vietnam would benefit from expanding the supply of quality opportunities. This includes encouraging more high-quality listings, supporting state-owned enterprise equitisation, and increasing market depth.

Finally, developing a stronger domestic institutional investor base, including pension funds, insurance investors, and professional asset managers, will be critical. Deep and resilient capital markets are typically supported by a healthy balance between domestic and international institutional participation.

Deputy general director Larry Lee of SABECO shared his perspective on efforts to raise standards across the entire supply chain

Expectations for Vietnamese enterprises are moving beyond business expansion towards improving productivity, accelerating innovation, strengthening resilience, and creating lasting economic and social value, the event heard.

This transition reflects Vietnam’s broader ambition to develop a more competitive and self-reliant economy, with enterprises playing an increasingly important role in translating national development priorities into practical outcomes.

Speaking at the forum, Prof. Dr. Nguyen Xuan Thang, a member of the 13th Politburo and chairman of the Central Theoretical Council, emphasised the responsibility of businesses in shaping the country’s economic future.

“Every enterprise is helping to shape the future of the country’s economy through the decisions it makes today,” Thang said. “I believe that when institutions pave the way, businesses take the initiative, and resources are effectively connected, Vietnam will develop a generation of enterprises with the capabilities to expand internationally, the confidence to conquer markets, and the responsibility to contribute to the country’s development.”

His remarks highlighted the importance of combining institutional improvements with corporate initiative, particularly as Vietnam seeks to enhance the quality of economic growth and strengthen its competitiveness in international markets.

An enabling policy environment can provide businesses with greater confidence to make long-term investments, embrace technological innovation, and pursue more sustainable operating models. At the same time, enterprises must take responsibility for improving their capabilities and adapting to changing market conditions.

The high-level plenary discussion at the event brought together representatives from the Ministry of Agriculture and Environment (MAE), the Ministry of Science and Technology, and leading enterprises to examine the conditions needed to support Vietnam’s next phase of development.

Ho Kien Trung, deputy director-general of the Environment Department under the MAE, highlighted the importance of clearer policy frameworks in guiding businesses towards greener operations.

He referred to government efforts to establish criteria for green projects and circular economy practices, helping enterprises better understand environmental requirements and identify sustainable investment opportunities.

“Such policy developments are particularly relevant as businesses face increasing pressure to improve resource efficiency, strengthen environmental governance, and comply with evolving standards,” Trung said.

Clearer regulatory guidance could also facilitate access to green financing, enabling enterprises to invest in technologies and production processes that reduce environmental impacts while improving long-term competitiveness.

Increasing links

For manufacturing enterprises, these developments reinforce the growing connection between environmental responsibility and operational performance.

Representing Saigon Beer-Alcohol-Beverage Corporation, known as SABECO, at the discussion, Larry Lee, deputy general director responsible for strategic assets and sustainability, shared the company’s perspective on strengthening competitiveness through operational improvements and closer cooperation across the business ecosystem.

With 26 breweries across Vietnam, the company’s extensive operational footprint presents opportunities to improve resource efficiency, optimise production processes, and strengthen relationships with suppliers and business partners.

“One of the lessons we have learned throughout our transformation is that productivity and sustainability are closely linked to practical operational improvements,” Lee said. “When businesses use energy more efficiently, reduce material losses, manage water resources better, or optimise production processes, these changes not only benefit the environment but also directly improve business performance.”

In the beverage industry, efficient management of water, energy, packaging materials, and production resources is particularly important. Improvements in these areas can help reduce environmental impacts while supporting productivity, cost efficiency, and operational resilience.

For companies operating at scale, even incremental improvements in resource utilisation can generate meaningful benefits over time, particularly when implemented consistently across production facilities. This approach also demonstrates how environmental responsibility and business performance can reinforce one another, rather than being viewed as competing priorities.

Beyond individual operations, SABECO’s experience highlights the importance of collaboration in developing more resilient business ecosystems.

As one of Vietnam’s established beverage producers, the company operates within an extensive network connecting manufacturing facilities, suppliers, distributors, business partners, and local communities. Stronger cooperation across these relationships can contribute to more efficient operations, improved supply chain resilience, and the wider adoption of responsible business practices.

Lee emphasised that sustainable transformation requires coordinated efforts extending beyond individual enterprises.

“Vietnam’s next stage of growth will require closer coordination between policies, businesses, technology, logistics, finance, human resources, and domestic supply chains. No single enterprise can achieve this transformation alone,” he said.

Business continuity

Lee’s perspective echoed one of the forum’s central messages: achieving economic growth requires stronger connections between government policies, corporate capabilities, and resources across different sectors.

While large enterprises can play a leading role in adopting advanced technologies and improving operational standards, small- and medium-sized enterprises remain essential participants in domestic supply chains and local economic development.

Closer cooperation between businesses of different sizes can facilitate knowledge sharing, encourage technology transfer, and help smaller enterprises strengthen their competitiveness.

For firms such as SABECO, whose operations are closely connected with a broad network of suppliers and partners, strengthening these relationships can support both business continuity and wider economic development.

The forum also highlighted innovation as a critical driver of Vietnam’s transition towards higher-quality growth. Digital technologies, improved management systems, and more efficient production processes can help enterprises monitor resource consumption, optimise operations, and respond more effectively to changing market conditions.

At the same time, investment in workforce development and management capabilities remains essential to ensuring that technological improvements translate into productivity gains.

These priorities are becoming increasingly important as Vietnamese enterprises navigate a more complex global economic environment, characterised by shifting supply chains, technological disruption, and growing expectations surrounding environmental performance.

For businesses seeking to maintain their competitiveness, the ability to integrate innovation into long-term strategies will be an important consideration.

However, translating sustainability ambitions into measurable outcomes requires more than corporate commitment alone, the forum heard. Many enterprises continue to face challenges related to investment costs, technical capabilities, access to financing, and the practical implementation of environmental standards.

Supportive policies, clearer regulatory frameworks, and stronger cooperation between public institutions and the private sector can therefore play an important role in accelerating business transformation.

The discussions at last week’s forum reinforced the need for a balanced approach in which government institutions create new advantages for investment and innovation, while enterprises proactively strengthen their operational capabilities and pursue responsible growth.

For SABECO, participation in the forum provided an opportunity to contribute its business perspective to the national dialogue on sustainable development, particularly in relation to operational efficiency, resource management, and cooperation across value chains.

The company’s emphasis on connecting productivity improvements with suitable objectives reflects a broader shift in how businesses approach long-term competitiveness. Rather than measuring success primarily through expansion, enterprises are increasingly encouraged to consider how effectively they utilise resources, develop capabilities, and create lasting value for stakeholders.

As Vietnam advances its economic development ambitions, the relationship between policy direction and practical corporate action will remain central to achieving growth, Lee said.

By strengthening institutional support, encouraging innovation, and fostering closer cooperation across business ecosystems, Vietnam can create further enhancements for enterprises to enhance their competitiveness.