What does the Thanh Giong Cup mean to you and to Vietnam's international business community?

I was deeply inspired by the story of Thanh Giong because, at its core, it is a story about growth. A young boy grows into a giant to take on the challenges facing his country. But what makes the story particularly meaningful is that he does not grow on his own. The villagers feed and support him, and after victory, he simply rides away without waiting for a reward.

I believe there are three important lessons for business leaders. The first is ambition. Just as Vietnam has set ambitious growth targets, businesses need bold aspirations, supported by agility and the courage to act.

The second is building the right foundations. Agility without capability is just noise. Leaders must invest in people, technology, and innovation, including AI, to build the capabilities needed for long-term competitiveness.

The third is growth that benefits others. Just as the villagers helped Thanh Giong grow, large companies have a responsibility to strengthen the surrounding ecosystems, including suppliers, farmers, and small and medium-sized enterprises (SMEs).

This is particularly relevant to foreign-invested enterprises. Vietnam’s Resolution No.10-NQ/TW reinforces the importance of improving the quality and effectiveness of foreign direct investment (FDI), including its contribution to domestic businesses and the wider economy. The role of FDI is not simply to bring capital into the country, but also to transfer knowledge, develop talent, and build capabilities that remain in Vietnam and serve Vietnam’s long-term development.

For Nestlé, this philosophy is reflected in our nearly three decades of investment in the country. Since establishing our presence in Vietnam in 1995, we have invested nearly $904 million, developed four factories and two distribution centres, and created more than 2,300 direct jobs. Our contribution also extends through our network of suppliers, distributors, and farming communities. Ultimately, the measure of success is how much a business grows along with how much value it creates for the country in which it operates.

Through the NESCAFÉ Plan, Nestlé Vietnam has supported more than 23,000 farming households in the Central Highlands in adopting regenerative agriculture, improving incomes while ensuring a stable and traceable coffee supply. Photo: Nestlé Vietnam

How have you applied the Thanh Giong spirit of rapid, strong, and resilient growth in leading Nestlé Vietnam?

For me, it starts with the concept of Creating Shared Value. The idea is simple: when a business succeeds, the surrounding stakeholders should benefit as well. Over the past 30 years, Nestlé Vietnam has worked with farmers, suppliers, and SMEs to ensure that our growth creates wider economic and social value.

Our coffee value chain is a good example. Through the NESCAFÉ Plan, launched in Vietnam in 2011, we have supported more than 23,000 farming households and distributed over 100 million high-yielding, disease-resistant, and climate-resilient coffee plantlets to farmers. Our programmes provide technical assistance in sustainable farming and coffee replanting, helping farmers improve productivity, coffee quality, and livelihoods while contributing to a more resilient supply chain. Across the Central Highlands, our agricultural support activities have reached more than 492,000 farmer participations over time.

My leadership philosophy is to be purpose-led, people-focused, and performance-driven. Purpose gives us direction, people make transformation possible, and performance ensures that our efforts deliver measurable results. These principles are complementary, not competing priorities.

Between 2021 and 2025, Nestlé Vietnam’s revenue nearly doubled over five years. During the same period, our total investment rose from approximately $729 million to $904 million. These results reflect our commitment to building a business that can grow competitively while investing in people, strengthening local supply chains, and creating value for the communities in which we operate.

Nestlé offers hundreds of career opportunities to students annually through its management trainee and Nesternship programmes. Photo: Nestlé Vietnam

What drove Nestlé Vietnam’s near-doubling of revenue during the period from 2021 to 2025?

There were three key drivers. First, we chose to invest when many businesses were cutting back during the COVID-19 pandemic. Over the past five years, we have invested around $500 million in capital expenditure, including expanding our coffee manufacturing capacity. This decision strengthened our production capabilities and enabled us to respond to growing demand. Our coffee exports have more than tripled over the past four years.

Second, we focused on regenerative agriculture to secure a reliable supply of high-quality coffee over the long term. By working directly with farmers to improve cultivation practices and use resources more efficiently, we are helping to strengthen both the quality of our raw materials and the resilience of the agricultural communities that supply them. For us, sustainability begins well before production starts in the factory.

Third, we expanded our export markets to 44 countries, including demanding markets such as the EU, the United States, Japan, South Korea, and Australia. Vietnam is increasingly becoming an important regional manufacturing and supply hub for Nestlé, particularly in coffee and food products. Our strategy is to increase the value generated here in Vietnam, rather than simply exporting raw materials.

The results demonstrate the impact of this approach. Revenue grew by nearly 95 per cent between 2021 and 2025, while our investment commitments continued to increase. In 2025 alone, revenue rose by more than 40 per cent on-year. This growth was achieved despite challenges such as supply chain disruptions and rising input costs, particularly for coffee.

The lesson is that resilience comes from investing ahead of demand, continuously upgrading capabilities, and connecting local production to global markets. Growth becomes more sustainable when it is supported by strong domestic supply chains and long-term partnerships.

Photo: Nestlé Vietnam

How can foreign investment support Vietnam’s double-digit growth ambitions while advancing sustainability?

It is a myth that sustainability and growth do not go together. In my view, they complement each other. Sustainability can improve efficiency, reduce costs, and strengthen long-term competitiveness. Sustainable development often begins with operational excellence. By optimising the use of water, energy, and raw materials while minimising waste, companies can improve resource efficiency and build more resilient operations. Far from being merely a compliance requirement, sustainability serves as a strategic lever to reduce costs, enhance productivity, and mitigate long-term business risks.

The second contribution FDI can make is to develop talent and strengthen the business ecosystem. Foreign-invested enterprises can work with one another as well as with Vietnamese SMEs to help them improve their technology, management practices, productivity, and ability to meet international standards. This is how investment can generate benefits beyond the operations of an individual company.

At Nestlé Vietnam, our sustainability strategy extends across the value chain. We work with farmers to promote regenerative agriculture and invest in manufacturing capabilities. As a co-founder of the Packaging Recycling Organization Vietnam, Nestlé Vietnam also supports collective efforts to develop a more circular packaging economy. These initiatives are part of a broader ambition to contribute to a regenerative food system and the Nestlé Group’s net-zero emissions target by 2050.

Finally, FDI brings capital, expertise, technology, and access to international markets. When these strengths are combined with local knowledge and Vietnamese enterprises, they can help domestic suppliers move up the value chain, improve productivity, and participate more deeply in global supply chains.

Vietnam’s growth ambitions and sustainability goals should therefore be pursued together. For foreign-invested enterprises, the opportunity is not merely to expand their own businesses, but to help build a stronger, more innovative, and more sustainable economy. That is the kind of growth that creates lasting value for Vietnam.

For Goswami, the past offers a foundation, not a blueprint for the future.

That idea runs through her approach to transformation. Growth is not simply about adding technology, launching more products or following what other banks are doing. It starts with purpose, sharp choices about where to compete, and an understanding of what customers now value. Technology, culture and governance then have to work together to deliver it.

Across the conversation, three ideas recur: purpose, relevance, and trust.

Richa Goswami, member of the Board of Directors at Eximbank, sees purpose, relevance and trust as central to the bank’s next chapter. Photo: Eximbank

Rediscovering purpose, not reinventing it

Goswami sees a clue to Eximbank’s future in the bank’s own beginnings.

Established as the Export-Import Bank to serve Vietnam’s importers, exporters and businesses as the country entered a new era of growth, Eximbank was built around a practical purpose. Goswami points to stories of employees staying up late, answering phones, sending faxes and doing whatever it took to support customers.

To her, that was customer-centricity before the term entered the management lexicon. The opportunity now is not to recreate those old ways of working, but to recover the intent behind them.

“What pulls me most toward this moment is Eximbank’s own history,” she said. “That is customer-centricity. That’s the DNA this bank was actually built on.”

Purpose, in this sense, is more than a brand statement. It provides continuity through change: a way to decide what should remain constant even as products, technology, operating models and customer expectations evolve.

Eximbank’s original customers were businesses participating in Vietnam’s growth story. Today, the context, technology and expectations are different. But the underlying question remains: how can the bank be genuinely useful to the people and businesses it exists to serve?

For Goswami, that is where the next phase begins. Eximbank’s original customer-first spirit is not something to recreate, but to reinterpret for a new generation.

Relevance has to be earned again

History, however, is not a strategy. What worked in the past does not stay relevant simply because it once worked well.

“The truth is our customers have changed,” she said

The observation is simple; the implications are not. Banks have traditionally built products and then found ways to sell them. Goswami argues for reversing that order: understand how customers live, where friction sits in their financial lives, what they value and what they now consider normal - then decide what the bank should build. As she puts it: “People don’t pay for products, they pay for experiences.”

That shift matters particularly in Vietnam, where a large younger generation expects services to be personalised, relevant and immediate. Goswami sees an opportunity for a fast-growing market to learn from digital disruptors elsewhere and leapfrog rather than follow the same path step by step.

Her broader experience has also reinforced a practical instinct: treat constraints as a source of focus, challenges as opportunities, and transformation as a discipline of choosing what matters most.

For Eximbank, that means translating customer insight into a small number of choices the organisation can execute exceptionally well. Relevance is not created by trying to be everything to everyone. Goswami argues for what she calls “ruthless prioritisation”: know which customers you want to serve, identify the experiences that matter most to them, and focus execution on the few priorities that can genuinely move the needle.

“In life, less is more,” she said.

It is depth over breadth: solve meaningful pain points, create genuine reasons for customers to choose the bank and resist confusing activity with progress.

Trust is earned through experience, not messaging.

If purpose explains why an institution matters and relevance determines whether it continues to matter, trust determines whether the relationship can endure. In banking, Goswami sees trust as particularly personal - and ultimately more valuable than any single financial metric.

Money is not an abstract product. It represents work, sacrifice, plans and responsibilities. When customers place it with a financial institution, they are entrusting that institution with something deeply connected to their lives.

For Goswami, customer trust begins with a simple test: do people feel listened to, understood and confident that the bank will act on what matters to them? In her view, financial ratios may matter to bankers, but customer trust is the asset that makes a relationship sustainable.

That trust is accumulated through repeated experiences: whether everyday banking works, whether the bank listens and responds, whether customers feel understood at important moments, and whether the institution creates value rather than simply selling another product.

That is why she rejects the idea that customer experience is merely a layer of service or communication around a product-led organisation.

Her framing is more human: banking is a personal business, and institutions have to treat people with empathy, care and respect. That changes how transformation should be judged.

Some interactions should become almost effortless. Goswami recalls seeing account opening at a traditional bank take weeks while digital challengers could complete it in minutes. Fixing that kind of friction is not simply a technology project: it can require changes across operations, compliance, risk and legacy systems. The point is not digitalisation for its own sake, but making everyday banking fast, secure and dependable.

Other moments demand something different. Goswami recalls how recently widowed customers sometimes contacted a bank with little understanding of their finances. In those moments, the right response was not simply a more efficient process, but people trained to listen with empathy before moving to financial solutions. Technology can remove friction; human judgement and care still matter when life becomes complicated.

The choice, then, is not digital versus human. It is about using each where it creates the right experience for the customer.

Technology should follow strategy

This is why Goswami is wary of equating transformation with technology. AI, digital platforms and new capabilities create enormous possibilities. But buying technology before deciding which customer problem to solve risks turning transformation into a race for novelty.

“Technology is an enabler, not the starting point. The tail can’t wag the dog,” she said.

The starting point is strategy. On this, Goswami is direct: transformation only creates value when the strategy starts with the customer, identifies the problems worth solving and makes clear choices about where the bank intends to differentiate.

Richa Goswami believes transformation should start with strategy and customer needs, with technology serving as an enabler. Photo: Eximbank

Governance creates discipline. Technology adds speed and capability. Execution turns choices into outcomes. But discipline cannot compensate for choosing the wrong target. As Goswami argues, everything else creates value only after the organisation is clear about what it is trying to solve for the customer.

The same logic applies to data. Banks hold vast amounts of customer information. The more important question, Goswami argues, is what value customers receive in return.

Personal financial management tools offer one example. When data helps customers understand their spending, saving or financial behaviour and make better decisions, information becomes useful. That can build a stronger relationship than one based only on rates or promotions.

Transformation starts inside the bank, too

There is another side to customer trust that customers may never see. An organisation’s ability to deliver externally depends heavily on the environment it creates for its own people.

A transformation strategy can look compelling on paper and still fail if employees are not supported, empowered or equipped to execute it. Culture, in that sense, is not a soft issue; it is an execution issue.

Goswami’s point is practical: employees need the confidence and support to act in the customer’s interest. Small acts of judgement and empathy can create disproportionate customer delight when people are trusted to make them.

At board level, that means keeping strategy anchored in customer outcomes, staying connected to the customer and employee reality behind management reports, and ensuring that technology and investment choices serve the strategy rather than drive it.

The principle is simple: customer signals have to travel into decision-making. Complaints, feedback and everyday friction are useful only if the organisation acts on them.

As Goswami puts it, transformation “starts and ends with the customer”. Understand the customer first; strategy follows, execution brings it to life, and governance keeps the organisation on track.

Employee experience is part of the same system. People who feel supported and empowered are better placed to create the experience the bank wants customers to have. Strategy, culture, people, technology and governance all matter - but they have to pull in the same direction.

Eximbank employees, reflecting the role of people and culture in the bank’s transformation. Photo: Eximbank

From transformation to rebuilding

Goswami’s ambition for Eximbank goes beyond improving individual processes. Over the next five to ten years, she wants Eximbank to become a brand Vietnamese customers genuinely love, not simply use - a bank they trust, find convenient and feel truly understands their needs.

Her ambition extends beyond Vietnam. She wants Eximbank’s transformation to become a case others study alongside global banking benchmarks: evidence that a long-established institution can rebuild around customers and compete at a world-class standard.

The idea of rebuilding matters. Transformation does not require an institution to erase its history and start again. The stronger opportunity may be to identify what made it meaningful in the first place, then give that purpose a new expression for a changed world.

For Eximbank, Goswami sees that foundation in a history of serving businesses and customers pursuing growth. What comes next will require different tools, new capabilities and different ways of working - and the discipline to focus on the few things that can truly move the needle.

But the underlying purpose does not have to disappear in the process.

That may ultimately define Eximbank’s next chapter: preserve the purpose that gives the bank meaning, change what no longer creates relevance, and earn trust through the experiences customers have every day.

On the afternoon of September 22, the Dialogue Between Youth Leaders from Jiangxi and International Friendship Partners at Different Levels 2026 was held. More than 100 international youth leaders from countries including Nigeria, Bangladesh, Bulgaria, and Spain, along with young representatives from Jiangxi, attended the event. The participants engaged in discussions on topics including "openness and win-win cooperation," "skills and innovation," and "mutual learning among civilizations." The event also featured a "My Story with Jiangxi" sharing session, where Chinese and international youth shared their experiences, observations, and reflections.

On the evening of September 22, the China-International Youth Friendship Gala was held. The event was jointly hosted by the Jiangxi Provincial People's Association for Friendship with Foreign Countries, the Jiangxi Youth Federation, the China Vocational Education Association, Jiangxi, and the Jiangxi Federation of Industry and Commerce, and was organized by Jiangxi Youth Vocational College and the Jiangxi International Communication Center.

More than 160 young representatives from China and around the world gathered for dialogue and exchanges. The event featured presentations promoting Chinese and international cities, as well as corporate presentations, providing a platform for communication and economic and trade cooperation between China and other countries. Young people from China and around the world also performed traditional artistic programs showcasing their distinctive cultural traditions. Through music, dance, and other art forms, they celebrated the richness of cultural diversity and promoted exchanges and mutual learning among civilizations.

At the China-International Youth Friendship Gala, outstanding works from the inaugural Jiangxi International Friendship Cities Children's Art Exhibition were on display.

The exhibition features artworks by children from Jiangxi and its international friendship cities. The young creators depict harmony among all living things through their innocent and imaginative brushstrokes, drawing Chinese and international youth to stop and admire the works.

YouTube Video: https://youtu.be/4Ra8W9PL-ro?si=a4H8yhOgRarkCiwk

According to the country's revised Power Plan VIII, the total power capacity in the province by 2030 will be over 12,963 MW, with an additional 3,892 MW added in the 2031-2035 period.

The planned power structure includes coal-fired thermal power, gas-fired power, wind power, solar power, hydropower, and other energy types.

According to Quang Tri Department of Industry and Trade, the province currently has 40 power plants in commercial operation with a total capacity of over 1,464 MW; in addition, there are 1,524 rooftop solar power systems with a total capacity of over 148 MW. Electricity production in the province was estimated at nearly 4 billion kWh in 2025.

If it includes completed projects that are in commercial operation and undergoing pilot runs, the total capacity reaches 3,016.2 MW, equivalent to only about 23 per cent of the total planned capacity by 2030.

According to the department’s report, as of early October, there are currently six projects under construction, but all are facing land clearance issues; 27 projects have selected investors but have not yet commenced construction.

Furthermore, eight projects are undergoing adjustments to their investment policies, and four projects have received investment approval but have not yet selected investors. There are 26 projects currently under review for investment approval and 21 projects without submitted proposals.

Quang Tri People's Committee has instructed relevant departments and agencies to review long-delayed or partially implemented power projects, reassess investors' capabilities, and take appropriate action.

Chairman of Quang Tri People's Committee Bui Hoang Phuong said Quang Tri aims to become a national energy hub and would prioritise investors with strong financial resources and proven project implementation capabilities.

Quang Tri Department of Finance has been tasked with assessing investor capabilities, while specialised departments and local authorities must strengthen oversight throughout project implementation to prevent lax management after licensing.

Meanwhile, Quang Tri Department of Industry and Trade must coordinate with the Ministry of Industry and Trade to finalise power planning and accelerate investment in transmission infrastructure.

At a meeting on October 1, Secretary of Quang Tri Party Committee Vuong Quoc Tuan called for a comprehensive review of stalled projects to prevent the waste of land and other resources. He instructed authorities to categorise projects, establish detailed implementation plans linked to monthly disbursement schedules, and monitor progress weekly.

"We must tighten investor selection criteria, prioritising strategic investors capable of developing wider business ecosystems and attracting investment into other sectors. Investment proposal dossiers must be finalised in October, or by early November at the latest," he said.

Alongside stricter investor scrutiny, Quang Tri is working to address infrastructure and land clearance obstructions, particularly in electricity transmission, while exploring opportunities to combine clean energy development with data centres.

AMC Robotics builds out Bac Ninh plant to scale AI-powered robotics AMC Robotics has provided an update on the buildout of its manufacturing facility in Bac Ninh, operated through its wholly owned subsidiary AMCV Co., Ltd., as it targets Phase 1 production by the end of 2026.

LNG power plant projects risk falling behind schedule Of the 18 liquefied natural gas (LNG) power plant projects with a total capacity of over 20,000 MW, only two have commenced construction, and only the Hiep Phuoc LNG project is assessed as likely to be on schedule.

Consultation workshop refines Vietnam's clean hydrogen strategy The National Innovation Centre and the Global Green Growth Institute have held a consultation workshop on a draft report on Vietnam's clean hydrogen market.

From loans to women’s economic empowerment Policy credit is expanding women’s access to finance, from starting businesses and developing production to creating jobs, thereby enabling women to become more economically independent and take greater control of their livelihoods and incomes.

The event brought together a line-up of sports icons, including NBA legend Chris Bosh – Basketball Hall of Fame Inductee and two-time NBA champion – together with Sands Global Ambassador Sir David Beckham, China women's basketball national team player Zhang Ziyu, and China short track speed skating Olympic gold medalist Wang Meng, alongside members of Macau Special Olympics (MSO), families from Macao's social service organisations, executives from Las Vegas Sands and Sands China, and Sands Cares Ambassadors. A total of around 200 participants gathered at NBA HOUSE to enjoy a series of basketball-themed carnival experiences and family-friendly activities, fostering meaningful exchanges among community stakeholders while promoting the inclusive power of sports.

The Impact Week fully demonstrates Sands China's longstanding commitment to serving the Macao community through its Sands Cares spirit. By harnessing the synergies from this sports tourism event, the initiative not only unites strengths across various sectors of society to support Macao's diversified development, but also extends its benefits into the local community to foster social inclusion.

The concluding event of the Impact Week began with a basketball clinic led by an NBA coach, who guided a group of MSO members through basketball skills training. Through demonstrations and personalized instruction, she helped participants enhance their basketball skills while encouraging them to challenge themselves, building self-confidence and fostering a spirit of inclusion in the process. In addition, NBA legend Chris Bosh, Zhang Ziyu and Wang Meng joined the event, engaging with MSO members on-site, adding to the warm and uplifting atmosphere. The MSO athletes exuded great enthusiasm throughout the session, underscoring the power of sport to break down barriers and foster inclusion.

Patrick Dumont, chairman of the board and chief executive officer of Las Vegas Sands Corp., and chairman of the board and non-executive director of Sands China Ltd., said: "Over the past few days, we have not only welcomed basketball fans from near and far to Macao through this world-class event, but also extended its impact beyond the arena through a wide range of community outreach initiatives during the Impact Week, including Greater Bay Area youth exchanges, a school visit, community engagement activities, and a basketball carnival. These initiatives enabled more Macao residents to experience the enthusiasm of basketball and the positive values it inspires.

"We firmly believe that world-class sporting events do more than enhance Macao's international appeal. They create meaningful opportunities for youth development, cultural exchange, and community participation, demonstrating the power of sport to connect communities and bring people together, while ensuring the benefits of major events are shared across the community. Looking ahead, Sands China will continue to fully support the policy direction of the Macao SAR Government and further strengthen the synergy between tourism and sports. Through these efforts, we aim to further contribute to Macao's economic diversification."

Following his participation last year, Sands Global Ambassador Sir David Beckham once again joined this year's Impact Week, where he engaged with families from Macao's social service organisations, including the Macau Tung Sin Tong Charitable Society, the Macao Federation of Trade Unions, the General Union of Neighbourhood Associations of Macau, and The Women's General Association of Macau. Alongside families of Sands China team members and Sands Cares Ambassadors, they took part in family-friendly activities, sharing joy and laughter together.

During the event, Sands Cares Ambassadors accompanied families from local social service organisations to explore NBA HOUSE, where they enjoyed a range of interactive attractions and experiences. Participants also received goodie bags assembled by NBA players, executives from Las Vegas Sands and Sands China, and Sands Cares Ambassadors, extending care and warm wishes to the wider community.

The "NBA Cares x Sands Cares Community Impact Week 2026" spanned five consecutive days, Oct. 7-11, featuring a diverse programme of activities focused on youth development, healthy living and community inclusion. Current NBA players and legends engaged with communities across Macao, with the initiative extending the impact of the NBA sporting event into the community and enabling more Macao residents to experience the positive energy and excitement generated by the world-class basketball event.

"NBA Cares x Sands Cares Community Impact Week 2026" is part of Sands Cares, the global corporate citizenship programme of Sands China's parent company. As an important stakeholder in the Macao community, Sands China has actively fulfilled its corporate social responsibility for more than two decades. Through the programme, the company strives to connect with and serve the community, give back to society, and work alongside different sectors to build a more vibrant and inclusive Macao community.

For high resolution photos, please visit:

https://it-ezshare.sands.com.mo/exweb/share/c8ffbcd4-9b3e-4280-a99b-36cd64e1f440

For more information, please visit www.sandschina.com.

Rugged Computing Solutions Provider

Financial Strength & Governance: Listed and Well Governed

Emdoor Information's financial performance reflects the durability of its business model. Listed on China's A-share main board in 2023, the company reported 2025 revenue of RMB 4.583 billion (approximately USD 640 million), up 44.15% year over year. This growth is driven by disciplined governance and sustained innovation: R&D staff account for over 40% of the workforce, and cumulative R&D investment over the past five years reached RMB 964 million, a compound annual growth rate of 15.9%. As a publicly listed company with transparent reporting, Emdoor Information offers industrial customers and channel partners the governance stability needed for long-term cooperation.

Integrated Manufacturing & Quality: Own Lines, 7.8M Units

Emdoor Information owns its self-built Emdoor Building, which includes corporate offices and a 20,000-square-meter intelligent manufacturing base. The base has four production floors, 15 integrated assembly and testing lines, and an annual capacity of 7.8 million units. Co-locating manufacturing and R&D within the headquarters enables rapid design validation and faster time-to-market. The facility holds ISO five-system certification and uses advanced automation, including AI-powered visual inspection and Manufacturing Execution Systems (MES) for full-process traceability.

The Emdoor Building also houses a reliability testing base backed by tens of millions of RMB in investment, with dedicated labs for waterproofing, drop testing, environmental simulation, and mechanical durability. All rugged tablets, laptops, and handheld terminals undergo rigorous validation against IP ratings and MIL-STD-810 standards, ensuring reliable operation under extreme field conditions.

Supply Chain Resilience: Steady Supply, Controlled Costs

Emdoor Information's supply chain is anchored by long term partnerships with global semiconductor and technology leaders, including Intel, Qualcomm, and Rockchip. These relationships, recognized by honors such as Intel Premium Partner and Microsoft ODM Strategic Champion, provide early access to platform level technical resources and prioritized supply allocation.

The company centralizes component procurement through its group supply chain management center. With annual procurement in the hundreds of millions of RMB, this approach optimizes hardware Bill of Materials (BOM) costs while maintaining tier one supplier quality. To mitigate volatility, especially in memory and storage, Emdoor maintains strategic bulk inventory and dynamic safety stock across critical materials. This discipline is supported by a rolling finished goods inventory valued at RMB 120 million, enabling delivery of standard configurations in one to three days and customized units in seven to thirty days. As a result, the company ensures stable pricing, controlled cost fluctuations, and protection of customer project margins.

Full Stack R&D & Product Innovation: 100 Models, 5 Platforms, 3 OS

Emdoor Information offers a broad product portfolio: rugged tablets and laptops, rugged handhelds, vehicle mounted computers, and industrial panel PCs from 4 to 21.5 inches. It supports five platforms, Intel, AMD, Qualcomm, MediaTek, and Rockchip, across Windows, Android, and Linux. With nearly 100 models in active production, the company matches precise configurations to industrial scenarios such as quality inspection, intelligent patrol, and edge computing.

These platforms are often specified among the best rugged tablet, laptop, vehicle mount tablet, and industrial panel PC solutions for mission critical operations. A key strength is full stack internal development, covering industrial design, structural engineering, hardware architecture, software integration, and validation testing. All products carry international certifications including CCC, CE, FCC, RoHS, GMS, and UN38.3, plus specialized certifications for hazardous environments and automotive deployments.

On software, devices ship with pre-installed productivity tools such as physical key remapping, kiosk mode, and granular system controls. The integrated Mobile Device Management (MDM) platform enables fleet wide deployment, batch configuration, and remote control. Open SDK and API access for modules like barcode scanning facilitates rapid secondary development and enterprise integration, eliminating the need to build adapter frameworks from scratch. Beyond standard configurations, Emdoor provides rugged devices customization across hardware, software, and structural redesign for specialized operational needs.

Lifecycle Service Excellence: Worldwide Reach, Lasting Alliances

Recognizing that enterprise and industrial computing deployments often operate on lifecycles of five to ten years, Emdoor Information has built a service architecture for long term reliability. It provides repair services in Hong Kong. Technical support is available through a dedicated hotline, official social media, email, and an online support system with full lifecycle traceability from issue submission to resolution.

The company offers structured maintenance training to help customer engineering teams manage devices autonomously. It also operates a continuous feedback mechanism with after sales follow up and annual satisfaction surveys. Insights from frontline customers are integrated into product development, keeping device capabilities and service delivery aligned with field needs. For channel and distribution partners, Emdoor provides market development support including marketing collateral, agent training, industry salons, and trade show facilitation. Sales enablement includes project registration, territorial protection, and flexible inventory allocation, creating a full spectrum collaboration framework from pre sales consultation to long term after sales engagement.

Conclusion

Backed by financial strength & governance, integrated manufacturing & quality, supply chain resilience, full-stack R&D & product innovation and lifecycle service excellence, Emdoor Information has built a global partner network across multiple continents and earned recognition from customers in industrial automation, logistics, transportation, and field service. "Our growth reflects not only market demand but also the strength of our vertically integrated model, from manufacturing and supply chain to R&D and lifecycle services," said a company spokesperson. Looking ahead, Emdoor Information remains committed to deepening its rugged computing expertise, optimizing product performance and service delivery, and expanding worldwide. Its vision is to become a leading global provider of rugged computing solutions, delivering reliable, mission critical devices for the most demanding environments.

Under the MoU, the two ministries agreed to strengthen cooperation in areas related to knowledge, skills, and expertise in financial services, particularly in training and the development of financial services and activities.

The agreement also aims to build knowledge and provide thought leadership on emerging issues in financial services affecting both parties, including, but not limited to, sustainable finance, financial technology (fintech), investment funds, capital markets, banking, and insurance.

Cooperation may take several forms, including exchanging information on relevant trends in financial activities and products, as well as the laws and regulations governing the financial sector.

The two sides may organise seminars and training courses in Vietnam, primarily for executives of financial institutions, officials from the Ministry of Finance and the State Bank of Vietnam, and other beneficiaries selected by agreement in limited numbers.

Similar seminars and training courses may be held in Luxembourg, primarily for executives of Vietnamese financial institutions, officials from the Ministry of Finance and the State Bank of Vietnam, and other beneficiaries mutually agreed upon by the two parties.

Other forms of cooperation include online training courses on mutually agreed topics; assistance in identifying and accessing experts to conduct studies on areas of cooperation in response to specific needs at different stages; and exploring the possibility of joint activities to boost investment between Vietnam and Luxembourg.

The signing of the MoU establishes a basis for the two countries to strengthen experience-sharing, connect resources, and implement practical cooperation initiatives in the financial sector, contributing to closer bilateral economic and financial ties.

Photo: Duc Minh

Speaking at the signing ceremony, Minister Tuan said, "Relations between Vietnam and Luxembourg had made significant breakthroughs in recent years, underpinned by increasingly strengthened political and diplomatic ties, particularly following visits to Luxembourg by Vietnam’s prime minister and to Vietnam by Luxembourg’s prime minister."

He expressed his pleasure and appreciation for the efforts of the relevant agencies on both sides in working towards the signing of the MoU, which he said would provide a solid foundation for future cooperation.

Vietnam particularly hopes that Luxembourg will leverage its strengths to support capital market development and attract investment funds. As Vietnam focuses on achieving annual economic growth of 10 per cent or higher over the next decade, the need to mobilise resources for development investment is substantial.

“These are among Luxembourg’s outstanding strengths, particularly its ability to pull in international investment funds. We are also keen to develop international financial centres in Danang and Ho Chi Minh City, with the ambition of becoming a regional and global hub for green financial transactions,” Minister Tuan said.

Minister Roth said the country had considerable strengths, with investment funds managing assets worth up to €9 trillion ($10.07 trillion) and a leading green financial exchange.

“We stand ready to provide support and share our experience in fund management regulatory frameworks, green finance development, and creating opportunities to connect Vietnam’s financial market with leading financial institutions in Europe,” he said.

Minister Tuan expressed agreement with the proposed priorities and initiatives put forward to deepen collaboration in financial services, focusing on helping Vietnam improve its institutional and regulatory frameworks, and supporting human resource training.

At the bilateral meeting following the signing ceremony, the two ministers discussed the economic and financial situations of their respective countries, as well as policy.

Minister Roth shared Luxembourg’s experience in maintaining fiscal discipline, managing public debt, and preserving its high credit rating. He also discussed several European Union financial policy directions, including issues considered by the Economic and Financial Affairs Council and the Eurogroup.

The two sides agreed to continue strengthening links in capital markets and encouraging Luxembourg’s investment funds and financial institutions to increase their interest in, and long-term investment in, Vietnam.

They also discussed the potential to enhance cooperation between the Vietnam Stock Exchange and the Luxembourg Stock Exchange, particularly in the listing and disclosure of information relating to green financial instruments. This would enable Luxembourg to leverage its position as a major European financial centre while expanding connections with Vietnam and the wider ASEAN market.

In digital transformation and sustainable finance, the two ministers expressed interest in sharing experience in risk-based supervision, regulatory sandboxes for fintech, the EU’s regulatory framework for crypto-assets, and the application of AI in financial market management and supervision.

Regarding the development of international financial centres in Vietnam, Minister Tuan called on Luxembourg to share its experience in establishing legal frameworks and developing financial products and services, including investment funds, asset management, and green bonds. He also proposed support for human resource training and stronger links with Luxembourg’s green finance ecosystem.

Vietnam called on Luxembourg to continue facilitating connections between its financial institutions and investors and the Vietnamese market, helping engage international financial resources to support the country’s socioeconomic development.

Minister Tuan called on Luxembourg to continue playing an active role in EU mechanisms and supporting efforts to encourage the remaining EU Member States to complete the ratification of the EU-Vietnam Investment Protection Agreement at an early date. This would help establish a favourable legal foundation for expanding investment and economic cooperation between Vietnam and the EU.

Vietnam seeks stronger trade, investment ties with Luxembourg Vietnamese Ambassador to Belgium and Luxembourg Nguyen Van Thao has paid a visit to Luxembourg during which he met with officials from a number of local ministries, organisations and corporations to seek stronger economic cooperation between the two countries.

EU and Germany finance support for Vietnam on forestry conservation The Ministry of Agriculture and Environment, the European Union, and Germany on August 7, launched the “EU-Vietnam Forestry Support Programme,” which will contribute to the conservation, restoration and sustainable management of Vietnam’s natural forests and advance climate‑smart, inclusive forest‑based value chains.

EVFTA is a meaningful increase in both volume and quality The EU-Vietnam Free Trade Agreement (EVFTA) has now been in force for six years. VIR’s Bich Ngoc talked with Salvatore Banco, head of Ho Chi Minh City & South China at D’Andrea & Partners, about the progress made with the major trade deal.

At the meeting, Minister Tuan expressed his appreciation for the long-standing and effective cooperation between Vietnam’s Ministry of Finance and Fitch Ratings.

Providing an overview of Vietnam’s macroeconomic outlook, the minister noted the country's target of annual GDP growth at least 10 per cent. To achieve this, Vietnam estimates that capital mobilisation across the economy will need to reach approximately 40 per cent of GDP, with the capital mobilisation ratio expected to increase by around 2.5 times. At the same time, the government is determined to improve capital efficiency, aiming to reduce the incremental capital-output ratio from 6.4 to approximately 4.5-4.8.

"These objectives would create substantial scope and opportunities for cooperation, not only for the government but also for Vietnam’s business community, in accessing international sources of capital," the minister said.

Thanking the minister for his warm reception, Linnell noted that Vietnam was among the few countries worldwide to have maintained a strong and rapid growth trajectory.

Linnell said Fitch Ratings currently provided credit ratings for between 17 and 19 major organisations and businesses in Vietnam, describing the country as a market with significant potential in Southeast Asia. Against this backdrop, Fitch Ratings was carefully considering the timing of officially opening a representative office in Vietnam.

"In discussions with major investment funds across Asia and the Asia-Pacific region, Vietnam consistently attracted particular attention. International investors highly regarded the country’s positive macroeconomic growth story, strong shifts in foreign direct investment (FDI) flows, and promising investment market outlook," he said.

Expressing confidence in Vietnam’s future, Linnell said that although the country’s current rating outlook remained stable, there were solid grounds for Vietnam to make more progress.

Photo: Duc Minh

Concurring with Fitch Ratings, Minister Tuan said international financial market confidence in Vietnam was clearly growing. Recently, Japan’s credit rating agency JCR upgraded Vietnam to investment grade, while FTSE Russell had also delivered highly positive assessments of the Vietnamese capital market.

During recent meetings in New York, many international financial investors expressed interest in exploring the possibility of Vietnam issuing international bonds.

"Vietnam was carefully preparing the necessary conditions, particularly by enhancing the capacity of key projects to absorb capital, with a view to optimising costs and improving the efficiency of resource utilisation," the minister said.

He expressed his hope that Fitch Ratings would continue to work closely with Vietnam and provide candid assessments of the country’s strengths and areas requiring improvement, helping Vietnam soon enhance its sovereign credit rating.

Agreeing with the MoF’s direction, Linnell expressed confidence that Vietnam’s next government bond issuance on international markets, including the US market, would attract a positive response from investors.

Minister Tuan expressed his expectation that cooperation between the two sides would become more substantive. He voiced his hope of receiving an invitation to attend the official opening ceremony of Fitch Ratings’ representative office in Vietnam.

Bank margins to narrow on tighter liquidity Vietnam’s banking system liquidity is expected to stay tight in the near term on economic risks and keen competition, pressuring lending margins and profitability, according to a report released by Fitch Ratings on April 1.

Vietnam reaffirms macroeconomic stability as Fitch Ratings conducts review On May 19, at the headquarters of Vietnam’s Ministry of Finance (MoF), Deputy Minister Tran Quoc Phuong held a working session with a delegation of experts from Fitch Ratings, led by George Xu, director and lead Sovereign Analyst for Vietnam.

Fitch assigns first-ever credit rating to HDBank Fitch Ratings assigned its first-ever credit rating to HDBank, placing the Ho Chi Minh City-listed lender among the highest-rated Vietnamese banks and recognising its strong financial profile.

According to the announcement on October 11, Nam A Bank ranks among the top-performing Vietnamese banks in the ranking alongside MB Bank, VPBank, and others. The move marks a great stride for the bank given that the financial and banking sector is emphasising governance capabilities, operational efficiency, and resilience in the face of market volatility.

Performance ranking of the 50 largest publicly listed banks in Southeast Asia

Date for the 12 months ended December 31, 2025

Note: NC = no change in ranking; NR = not ranked in the previous period; ▼ = drop in ranking compared to the previous period.

Outstanding liquidity, operational efficiency, and profitability

One notable indicator is that Nam A Bank’s liquid assets accounted for 48.14 per cent of total assets, leading the top 10 banks based on the provided data. This figure is significantly higher than the group average of 25.97 per cent, reflecting the bank's prudent risk management strategy and robust liquidity buffer.

By maintaining a high proportion of liquid assets, Nam A Bank not only demonstrates superior resilience to unexpected fluctuations in the money market, but also establishes a solid foundation to enhance the capacity to withstand macroeconomic shocks. Leveraging this robust liquidity foundation, the bank can manage its funding resources, stand ready to meet all credit demand, and create a safe margin to expand its balance sheet efficiently and sustainably over the long term.

In addition, Nam A Bank posts the cost-to-income (CIR) ratio of 32.95 per cent, lower than the group average of 43.59 per cent. A low CIR ratio reflects that the bank controls costs relatively effectively in relation to the income generated, thereby contributing to enhancing its operational efficiency.

Regarding profitability, Nam A Bank’s return on average equity reached 19.66 per cent, higher than the regional average of 13 per cent. This indicator demonstrates that the bank generates a higher return on equity than the benchmark used for comparison.

Asset quality remains under tight control, with a non-performing loan (NPL) ratio of 2.18 per cent, lower than the regional average of 2.51 per cent. Maintaining an NPL ratio below this threshold is a positive factor when assessing credit quality and risk management, thereby enhancing the reputation and safety of the bank's lending operations.

A new milestone in the journey to enhance competitiveness

The recognition stands as a testament to the management capabilities and strategic vision of Nam A Bank’s leadership in optimising resources, maintaining rigorous risk management, and enhancing operational efficiency. At the same time, this result reflects the concerted efforts and dedication of the entire Nam A Bank workforce throughout a 34-year journey of establishing its unique identity.

Over the past decade, Nam A Bank has continuously achieved sustainable growth in both financial scale and management capacity.

In 2015, Nam A Bank’s total assets stood at just over $1.35 billion, with a pre-tax profit of $9.73 million. By September 30, 2026, the bank’s total assets had approached the $17.95 billion mark, an increase of approximately 13-fold compared to 2015.

In the first nine months of 2026, Nam A Bank posted the profit before tax (PBT) of $180.8 million, a 25 per cent increase compared to the same period in 2025. The bank achieved nearly 80 per cent of its PBT, an increase of approximately 18.65 times compared to 2015.

Nam A Bank currently operates nearly 350 points, including 148 traditional branches and nearly 200 OneBank automated digital transaction points, optimising the transaction experience for millions of customers nationwide.

In the stock market, NAB shares began trading on Unlisted Public Company Market (UPCoM) in 2020 before officially listing on the HSX in 2024. With the transition from UPCoM to HSX, the bank needs to meet higher requirements regarding information disclosure, corporate governance, and responsibilities towards shareholders and investors.

Photo: Nam A Bank

Nam A Bank is a pioneer in adopting rigorous international standards such as International Financial Reporting Standards and Basel III. The bank is finalising the implementation of the advanced Basel II framework. By the end of September 2026, Nam A Bank completed its compliance evaluation for the Capital Adequacy Ratio (CAR) under Circular 14/2025/TT-NHNN with a CAR of 11.3 per cent, exceeding the minimum requirement of 8 per cent.

Nam A Bank has also left a mark in attracting foreign capital through its partnerships with international financial institutions, including IFC, ADB, BlueOrchard, SIFEM, responsAbility, Proparco, FMO, Symbiotics, and numerous other institutions.

These partnerships have helped the bank to diversify medium- and long-term funding sources while bolstering capital resources dedicated to trade finance, supply chain finance, small and medium-sized enterprises, green finance, and inclusive finance.

The assessment results from S&P Global Market Intelligence not only elevate Nam A Bank’s brand reputation on the international financial stage but also reinforce a solid foundation for the bank to embark on a new growth cycle. The bank is committed to delivering exceptional and sustainable value to customers, shareholders, and strategic partners.

Nam A Bank successfully raises $30 million in international funding from Proparco Nam A Bank has signed a $30 million credit agreement with Proparco, the development finance institution of the French Development Agency.

Nam A Bank receives $60 million loan from FMO Nam A Bank has completed a green and inclusive lending facility agreement to receive a $60 million loan from Dutch development bank FMO.

Nam A Bank delivers strong breakthrough in 2026 Nam A Bank on October 2 announced it nine-month 2026 business results with impressive growth figures.

The launch comes as financing needs continue to rise. The World Bank’s Vietnam Country Climate and Development Report, published in 2022, estimated that Vietnam would require an additional $368 billion in investment through 2040 to pursue a climate-resilient and net-zero development pathway. Of this, approximately $114 billion was estimated to be needed for decarbonisation.

These figures underline the scale of the challenge facing policymakers, financial institutions and businesses. The question is no longer simply how to mobilise more capital, but how to ensure that financing reaches viable projects and that measurable emissions reductions can generate economic value.

Vietnam’s banking sector has continued to expand its green lending portfolio. According to figures reported by the State Bank of Vietnam (SBV) on March 27, outstanding green credit reached nearly $30 billion at the end of 2025, accounting for approximately 4.19 per cent of total outstanding credit. Green credit grew by 14.62 per cent in 2025, following growth of 9.5 per cent in 2024.

Pham Thi Thanh Tung, deputy head of the SBV’s Credit Department for Economic Sectors, highlighted the need for a consistent framework to classify green activities.

“The absence of a national green taxonomy had made it more difficult for credit institutions to identify eligible projects and develop appropriate lending policies. A common classification framework would provide a clearer basis for project assessment and help banks allocate financing more effectively. Such consistency would also support the development of financial products linked to measurable environmental outcomes,” she added.

The latest figures demonstrate progress, but green credit still represents a relatively small share of the banking system’s overall lending.

The carbon market could help bridge part of this financing gap by assigning economic value to verified emissions reductions. Businesses may benefit from lower energy consumption, reduced exposure to emissions-compliance costs or additional revenue from selling eligible carbon credits.

However, potential carbon revenue should not automatically be treated as a reliable source of project cash flow. Before credits can support investment decisions, emissions reductions must be measured against credible baselines, independently verified and issued under applicable rules. Clear ownership rights, transparent trading procedures and reliable settlement arrangements are equally important.

At the launch of Vietnam’s domestic carbon exchange on June 29, State Securities Commission (SSC) chairwoman Vu Thi Chan Phuong explained that establishing the exchange was only the starting point.

“What is more important is to build and develop a carbon market that operates in a stable, transparent, efficient, and sustainable manner,” stated Phuong. She also called for effective market supervision, transparent access for participants and continued improvements to the regulatory framework.

“These priorities are relevant to building investor confidence and ensuring that carbon trading develops within a reliable market infrastructure,” she added.

Her remarks underscore the importance of market integrity and effective supervision. For investors, the existence of a trading platform is not sufficient on its own; confidence also depends on the quality of the underlying carbon assets, the transparency of transactions and the consistency of regulatory oversight.

The timing of financing presents another challenge. Businesses need capital for project preparation, equipment procurement and technology upgrades well before emissions reductions can be verified and converted into tradable credits. Carbon revenue may arrive only after verification, issuance or the completion of a sale.

This gap creates opportunities for appropriately structured bridge financing, guarantees and blended finance arrangements. Such mechanisms can distribute risks among project developers, lenders, investors and public-sector institutions while projects establish a record of verified environmental performance.

For banks, carbon revenues should be assessed separately from cash flow generated by core business operations. Credit assessments need to consider the likelihood of credit issuance, potential price volatility, verification costs and contractual commitments. Carbon credits should not be treated as guaranteed collateral or a substitute for sustainable operating cash flow.

A similar approach applies to capital markets. Comparable emissions data, consistent disclosure and independent verification can help investors assess whether projected environmental benefits are credible and whether the associated financial returns justify the risks.

Singapore offers a regional reference point for integrating carbon pricing with regulation. Its carbon tax reached approximately $35 per tonne of CO₂ equivalent in 2026, with a target range of $39 to $62 per tonne by 2030. Eligible international carbon credits can be used to offset up to 5 per cent of taxable emissions, subject to regulatory requirements.

For Vietnam, the broader lesson is that pricing mechanisms, quality standards and financial infrastructure need to develop together. The domestic exchange can provide a trading mechanism, but reliable emissions data and predictable rules will determine how effectively carbon value can influence decisions.

Workshop advances low-carbon innovation in Vietnam’s cement sector A workshop was held in Hanoi on August 27 with a view to support industrial decarbonisation of Vietnam's cement sector.

VIFC steps up focus on talent and green finance Vietnam’s International Financial Centre is moving towards a new phase of development, with international standards, finance talent, green finance, and regulatory capacity emerging as key requirements for turning the country’s dual-city model into functioning markets.

From carbon value to greener capital Vietnam’s emerging carbon market is opening another potential source of value for green projects. Nguyen Thi Thu Ha, deputy head for the Steering Committee for Environmental, Social, and Governance at Agribank, analyses the broader shift of the role of carbon pricing.

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.