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Hexagon evaluating potential separation of its Asset Lifecycle Intelligence business

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STOCKHOLM, Oct. 25, 2024 /PRNewswire/ — Hexagon AB (NASDAQ Stockholm: HEXA B) announces that the Board of Directors has authorised management to evaluate a potential separation of its Asset Lifecycle Intelligence (ALI) business (“NewCo”) by way of a Lex Asea distribution (or “spin-off”) to its shareholders. Hexagon is evaluating listing options for NewCo in the U.S. and Sweden.

NewCo is also expected to include the ETQ business (currently operating under the Manufacturing Intelligence division), the Bricsys business (currently operating under the Geosystems division) and the Utilities & Infrastructure business that is currently transitioning to ALI from the Safety, Infrastructure & Geospatial division, due to the high level of synergies between these businesses and ALI.

A separation of NewCo would be intended to create two scaled public companies with distinctive operational strategies and financial profiles that establish differentiated positioning for investors to fully leverage the capabilities and potential of each platform.

Hexagon

Market leading portfolio of industrial and geospatial solutionsStrong innovation capabilities tailored to serve large global customer baseSolutions that leverage 3D data through AI-infused cloud platformsCreates best-in-class digital twins through automation and sensors

Excluding NewCo, Hexagon had approximately 19,600 employees as of September 30, 2024, and revenues of approximately EUR 4,408 million with an adjusted operating margin (EBIT1) of approximately 28% for the 12 months ended September 30, 2024.

NewCo

Leading software provider to Fortune 500 companiesWorld class portfolio of solutions to manage digital projects and assetsLeverages the digital twin to improve project and operational efficiencyCreates actionable intelligence from large data setsPoised to capitalise on structural trends towards asset optimisation

NewCo had approximately 5,000 employees as of September 30, 2024, and revenues of approximately EUR 980 million with an adjusted operating margin (EBIT1), before consideration of standalone costs, of approximately 35% for the 12 months ended September 30, 2024.[1]

NewCo would be led by Mattias Stenberg who is currently President of Hexagon’s ALI division. Since joining Hexagon in 2009, Mattias has held various key leadership roles including Chief Strategy Officer and has played a vital role in strengthening Hexagon’s strategic direction.

“Hexagon has established itself as a leader in the technology sector, grounded in the understanding that its business is anchored in two distinct worlds: the physical and the digital. Hexagon’s expertise lies in the precise capture and measurement of real-world data, utilising advanced AI technology to enhance and optimise the physical and digital environment. Meanwhile, NewCo focuses on the digital realm, initiating the world’s most complex projects in the design phase with a data-centric digital twin approach.

We believe Hexagon and NewCo will increasingly move in different directions so operating both as standalone companies with a laser focus on each of their respective target markets and technologies will significantly strengthen competitive advantages and add value for both organisations.” says Ola Rollén, Chairman of the Board for Hexagon.

“The potential separation of NewCo offers a unique opportunity to create two global leaders, each poised to thrive. For Hexagon, this means sharpening our focus on capturing and integrating real-time reality data into upstream software and AI-enabled autonomous platforms. This strategic shift will allow us to deliver more specialised solutions, improve capital efficiency, and unlock new growth opportunities. It positions Hexagon to accelerate innovation, empower employees, and create greater value for our customers and shareholders,” said Paolo Guglielmini, President and CEO Hexagon.

“ALI has grown strategically from a design & engineering technology player into an industry-leading, internationally recognised digital solution provider to asset-centric industries. We have, in the last 7 years, more than doubled our revenue and established a compelling business with an acclaimed product portfolio. I believe additional focus and targeted investment would help further accelerate innovation and revenue growth.” says Mattias Stenberg.

Process Details

Hexagon will provide additional information regarding the separation, spin-off and listing process, as well as future management team and board of directors for NewCo, at an appropriate time. It is the board’s current expectation that the separation process will take 12 to 18 months to complete.

The separation, spin-off and listing would be subject to the approval of the board and shareholders, as well as being subject to other conditions and regulatory approvals. There can be no assurances a separation, spin-off or listing will occur.

For further information, please contact:
Tom Hull, Head of Investor Relations, Hexagon AB, +44 7442 678 437, ir@hexagon.com
Anton Heikenström, Investor Relations Manager, Hexagon AB, +46 8 601 26 26, ir@hexagon.com

About Hexagon

Hexagon is the global leader in digital reality solutions, combining sensor, software and autonomous technologies. We are putting data to work to boost efficiency, productivity, quality and safety across industrial, manufacturing, infrastructure, public sector, and mobility applications. Our technologies are shaping production and people related ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future.

Hexagon’s Asset Lifecycle Intelligence division is a significant software provider to Fortune 500 companies that helps clients design, construct, operate, maintain and secure more profitable, safe, and sustainable industrial facilities around the world. The division’s core technologies help produce actionable insights that enable better decision-making and intelligence across the asset lifecycle of capital-intensive projects, leading to improvements in safety, quality, efficiency, and productivity, which contribute to Economic and Environmental Sustainability. Key solution areas include Design and Engineering (conceptual design and detailed engineering tools), Project Planning & Execution (construction, fabrication and supply chain management) and Operations & Maintenance (enterprise asset management, predictive maintenance and OT cyber security software).

Learn more at hexagon.com and follow us @HexagonAB.

Important information:

This is information that Hexagon AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:01 CET on 25 October 2024.

This communication does not constitute an offer to exchange, sell or buy securities. There shall not be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

This communication contains forward-looking statements. When used in this communication, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend”, “plan” and “project” are intended to identify forward-looking statements. They may involve risks and uncertainties, including technological advances in the measurement field, product demand and market acceptance, the effect of economic conditions, the impact of competitive products and pricing, foreign currency exchange rates and other risks. These forward-looking statements reflect the views of Hexagon’s management as of the date made with respect to future events and are subject to risks and uncertainties. All of these forward-looking statements are based on estimates and assumptions made by Hexagon’s management and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results or experience could differ materially from the forward-looking statements. Hexagon disclaims any intention or obligation to update these forward-looking statements. Forward-looking statements are not guarantees of future performance and the actual results of Hexagon’s operations and the development of the markets and the industry in which Hexagon operates or other outcomes suggested by such forward-looking statements (including any outcomes of a separation, a spin-off or a listing and any related business, financial, tax, regulatory or other implications, or differences between the existing ALI division and any separated business) may differ materially from those described in, or suggested by, the forward-looking statements contained in this communication.

[1] As the exact scope of NewCo has not yet been finally determined, the actual results of NewCo, and Hexagon excluding NewCo, may vary from the preliminary unaudited figures reflected herein.

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Hexagon evaluating potential separation of its Asset Lifecycle Intelligence business

 

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GAC Wins 8 Awards, Including 4 First Prizes, Showcasing Technological Innovation Strength

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SUZHOU, China, Oct. 31, 2026 /PRNewswire/ — On October 28, GAC won 8 awards at the 2026 China-SAE Science and Technology Award ceremony in Suzhou, Jiangsu. In the fields of automotive chips, electric drive, vehicle safety, intelligent driving governance and body design, four first prizes were awarded to two GAC-led projects and two GAC-participated projects, and one GAC-led project won second prize.

In chips, GAC’s led project built a full-chain path from vehicle definition to scale application, working with 105 partners to apply nearly 400 chip models and over 1,000 domestic chips. The HYPTEC GT Special Edition, China’s first ICV with 100% domestically designed chips, has been launched.

In electric drive, GAC pioneered mass production of amorphous alloy stators and carbon-fiber high-speed rotors, becoming the world’s only company to mass-produce amorphous alloy automotive motors. Its amorphous ribbon is just 0.025 mm thick. The motor reaches 99.03% peak efficiency, 17.29 kW/kg power density (@1000V)—nearly three times the industry mainstream—and 30,000 rpm maximum speed; system CLTC efficiency reaches 94.184%. For users, energy consumption drops 4%, and range rises 30-50 km with the same battery capacity. It has been applied to HYPTEC, AION and AISTALAND models and promoted to other automakers. The related precision manufacturing technology won the Gold Medal with Congratulations of the Jury at the 51st International Exhibition of Inventions of Geneva.

In safety, the GAC-led project with Tsinghua University won second prize. It developed China’s first ASIL-D fully domestic safety controller, real-time risk quantification, active-suspension side-impact mitigation, a rear-window airbag and an “automaker-traffic police-hospital” integrated rescue model. It has been applied to 20 models with cumulative sales of 1.446 million units.

In addition, GAC’s participated L2-L4 safety governance project helped establish a full-lifecycle system covering pre-admission, in-process supervision and post-event traceability. Its participated BIW project features an AI-based body design system that generates concept schemes within 5 hours, with over 95% stiffness prediction accuracy and over 30% higher design efficiency; it has been applied to the second-generation GAC GS8, GAC ES9 and GAC All-new S7.

Looking ahead, GAC will uphold innovation-driven development, advance core technology breakthroughs and commercialization, and support high-quality development of China’s auto industry.

For further information about GAC, please visit: https://www.gacgroup.com/en or follow us on social.

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ScienceOra Demonstrates AI-Assisted Hydrogen-Production Catalyst Design Workflow at Tencent Global Digital Ecosystem Summit

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The workflow spans literature analysis, candidate design, experimental planning and industrial decision support, extending AI4S into materials research

SHENZHEN, China, Oct. 30, 2026 /PRNewswire/ — Wenge AI demonstrated an AI-assisted hydrogen-production catalyst design workflow supported by ScienceOra at the 2026 Tencent Global Digital Ecosystem Summit. The demonstration showed how AI for Science (AI4S) can connect literature analysis, catalyst candidate design, experimental planning and industrial decision support, helping materials researchers translate scientific evidence into actionable research plans.

ScienceOra is Wenge AI’s intelligent research decision platform, built on the ScienceOne Scientific Foundation Model. For specialist research tasks such as materials development, the platform brings together scientific models, professional literature, research data and tools to support information access, research-plan development and scientific decision-making.

From literature analysis to catalyst candidate design

The demonstration focused on the design of a high-entropy alloy catalyst for the alkaline hydrogen evolution reaction. To address the need for high activity and durability, ScienceOra searched professional literature and drew on published research methods and elemental properties to support the development of candidate designs. It also cross-checked optimization proposals against relevant literature, providing researchers with references that could be reviewed and verified.

Rather than simply generating material formulations, the workflow connects documentary evidence, materials knowledge and specific design objectives to support more targeted analysis of candidate solutions. Researchers remain responsible for assessing scientific validity and determining subsequent research directions.

From experimental planning to industrial decision support

For experimental planning, ScienceOra can assist in developing research protocols around candidate designs, helping researchers organize experimental variables and producing testing standard operating procedures (SOPs) and related reference information for subsequent validation.

For industrial applications, the platform can also support comparative analysis across dimensions such as the feasibility of scaled hydrogen production, performance at industrially relevant current densities, durability, raw-material availability and compatibility with mass-production synthesis processes. It can then assist in establishing decision priorities, screening criteria and process-improvement recommendations.

Candidate designs, experimental plans, process recommendations and references can be consolidated into a structured research report, helping R&D teams assess scientific evidence alongside engineering constraints. AI provides analytical and decision support, while experimental testing and scientific validation remain essential parts of materials research.

Previously disclosed collaboration reports design efficiency and activity improvements

In a previously disclosed industry–research collaboration on hydrogen-production catalyst design, ScienceOra supported literature analysis and research-plan development. The collaboration reported a 38% improvement in catalyst activity and reduced the design stage from several months to 30 minutes. The case illustrates the potential of domain-specific AI to connect scientific literature, research design and engineering requirements.

ScienceOra was recently made available on Tencent WorkBuddy, with an initial offering of more than 30 research expert agents and skills covering literature analysis, research hypotheses, plan design, modeling and simulation, validation analysis and research communication. The conference demonstration further illustrated how ScienceOra can be applied to specialist materials research, as AI4S moves beyond general information processing toward support for research workflows and industrial R&D decision-making.

For more information, visit https://www.scienceone.ai/portal/.

About Wenge AI

Wenge AI (1956.HK) is a provider of artificial intelligence technology and service platform products for enterprises. With self-developed large models as its core, the company helps enterprises build practical intelligent platforms and applications. Founded by a team of AI scientists from the Chinese Academy of Sciences, Wenge AI has deep technological expertise in large models, cognitive intelligence and complex-system modeling, and is committed to advancing AI from technological capabilities to enterprise-level applications.

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Cake Digital Bank Wins Gold at Qorus-Infosys Finacle Banking Innovation Awards 2026

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ROME, Oct. 31, 2026 /PRNewswire/ — Cake Digital Bank, a digital-only bank from Vietnam, has won Gold at the Qorus-Infosys Finacle Banking Innovation Awards 2026 for its initiative, “Reinventing Financial Experiences Through an AI-First Banking Model.” Cake was the only financial institution from Vietnam recognized at this year’s awards.

The winners were celebrated in Rome, Italy, during Infosys Finacle Conclave 2026. The 13th edition of the awards attracted 538 submissions from 206 financial institutions across 68 countries, with 37 institutions recognized across ten award categories. The selection process combined voting by industry peers with evaluation by an expert jury of 81 senior banking executives.

The award-winning institutions included leading international banking names such as Santander, Commonwealth Bank, DBS, Maybank, and CaixaBank, reflecting the global scope and competitive landscape of the awards.

John Berry, Chairman of Qorus, observed that the banking industry is entering a new era in which AI is becoming integral to innovation, transforming initiatives and expanding the possibilities of financial services.

Building an AI-First Banking Model from the Ground Up

As artificial intelligence becomes increasingly central to banking innovation, financial institutions face a growing challenge: translating technological capabilities into better customer experiences, greater operational efficiency, and sustainable business performance.

Cake’s AI-first approach reflects this industry shift while taking a different starting point. Rather than integrating AI into established banking processes, Cake was built as a digital-only bank from the outset, embedding AI, data, and automation into its technology architecture, operating model, and customer journeys.

This greenfield foundation has enabled Cake to develop an integrated AI-first banking model, where technology supports how the bank makes decisions, manages operations, and delivers financial services at scale.

Supported by its independently developed core banking and card management systems, Cake applies AI across the banking value chain, from customer onboarding, credit assessment, and fraud prevention to risk management, customer service, and personalized financial recommendations.

Beyond operational efficiency, Cake has also invested in localized AI capabilities designed specifically for Vietnamese users, enabling more accessible, responsive, and personalized financial experiences.

Scaling Growth with Efficiency and Sustainable Business Performance

Nearly six years since its launch, Cake has grown to serve more than 8 million customers, demonstrating the scalability of its branchless digital banking model.

Cake achieved positive EBITDA in Q3 2024, just 3.5 years after launch, marking a significant milestone in demonstrating the viability of its digital-only banking model. The bank subsequently recorded 173% year-on-year revenue growth in 2025, followed by a further 121% growth in 2026, reflecting sustained business momentum as it continues to scale. Meanwhile, average revenue per user (ARPU) increased from USD 12 in 2024 to USD 44 in 2026, highlighting Cake’s ability to generate greater value from its growing customer base.

Beyond customer acquisition, Cake’s growth strategy increasingly focuses on deepening customer relationships and expanding the range of financial needs served through its platform and partner ecosystems. This approach reflects the bank’s evolution toward a mature digital banking model, where scale is complemented by stronger customer engagement, operational efficiency, and long-term business sustainability.

Nguyen Huu Quang, CEO of Cake Digital Bank, said:

“Winning Gold at the Qorus-Infosys Finacle Banking Innovation Awards is a meaningful international recognition of Cake’s AI-first banking model. From the beginning, our ambition has been to build a digital bank that combines technological innovation with sustainable business performance, while making financial services simpler, more accessible, and more relevant to customers. This recognition reinforces our commitment to delivering world-class banking experiences for Vietnamese users and continuing to advance our AI-first capabilities.”

The Gold Award marks another milestone in Cake’s development as a next-generation AI-first digital bank. It also demonstrates how a banking model developed and scaled in an emerging market can deliver meaningful customer and business outcomes, contributing practical perspectives to the global conversation on the future of digital banking.

In September 2026, Cake was also named “Vietnam’s Best Digital Bank” by Euromoney under its Group Level Banking Awards, further recognizing the bank’s progress in strategy, technology, and business performance.

About the Qorus-Infosys Finacle Banking Innovation Awards

The Qorus-Infosys Finacle Banking Innovation Awards are jointly organized by Qorus, a global association for retail financial institutions, and Infosys Finacle, a digital banking solutions provider. Now in their 13th edition, the awards recognize innovative initiatives and banking models that deliver meaningful impact across the global financial services industry.

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