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Yunji Announces Fourth Quarter and Fiscal Year 2024 Unaudited Financial Results

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HANGZHOU, China, April 21, 2025 /PRNewswire/ — Yunji Inc. (“Yunji” or the “Company”) (NASDAQ: YJ), a leading membership-based social e-commerce platform, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024[1].

Fourth Quarter 2024 Highlights

Total revenues in the fourth quarter of 2024 were RMB97.1 million (US$13.3 million), compared with RMB149.1 million in the same period of 2023. The change was primarily due to soft consumer confidence and the Company’s continued strategy to refine its product selection across all categories and optimize its selection of suppliers and merchants, which had a near-term impact on sales.Repeat purchase rate[2] in the twelve months ended December 31, 2024 was 71.9%.

Mr. Shanglue Xiao, Chairman and Chief Executive Officer of Yunji, said, “As we navigate the current market landscape, we are making progress in repositioning Yunji as the leading platform for organic health products. We have focused our operations on high-margin, high-repeat purchase categories, particularly organic health foods and nutritional products. In 2025, we aim to transform Yunji into an experiential health and wellness destination through our expanding health-focused ecosystem.”

“In the fourth quarter, we optimized our cost structure by refining our staff structure and significantly reducing fulfillment and technology expenses year-over-year. As we enter 2025, we will maintain financial discipline while investing strategically to drive sustainable growth and improve profitability.” said Mr. Yeqing Cui, Senior Financial Director of Yunji.

Fourth Quarter 2024 Unaudited Financial Results

Total revenues were RMB97.1 million (US$13.3 million), compared with RMB149.1 million in the same period of 2023. This change was primarily due to soft consumer confidence and the Company’s continued strategy to refine its product selection across all categories and optimize its selection of suppliers and merchants, which had a near-term impact on sales.

Revenues from sales of merchandise were RMB75.5 million (US$10.3 million), compared with RMB112.3 million in the same period of 2023.Revenues from the marketplace business were RMB19.4 million (US$2.7 million), compared with RMB34.3 million in the same period of 2023.Other revenues were RMB2.2 million (US$0.3 million), compared with RMB2.5 million in the same period of 2023.

Total cost of revenues decreased by 36.9% to RMB50.2 million (US$6.9 million), or 51.7% of total revenues, from RMB79.6 million, or 53.4% of total revenues, in the same period of 2023. The decrease was primarily attributable to the change in merchandise sales, for which revenues and cost of revenues are recognized on a gross basis. Total cost of revenues, which primarily comprises the costs related to the sales of merchandise, decreased accordingly in the fourth quarter of 2024.

Total operating expenses increased by 14.9% to RMB126.2 million (US$17.3 million) from RMB109.8 million in the same period of 2023.

Fulfillment expenses decreased by 33.9% to RMB16.4 million (US$2.3 million), or 16.9% of total revenues, from RMB24.8 million, or 16.6% of total revenues, in the same period of 2023. The decrease was primarily due to (i) reduced personnel costs as a result of staffing structure refinements, (ii) reduced warehousing and logistics expenses due to lower merchandise sales, and (iii) decreased service fees charged by third-party payment settlement platforms.Sales and marketing expenses increased by 6.0% to RMB30.2 million (US$4.1 million), or 31.1% of total revenues, from RMB28.5 million, or 19.1% of total revenues, in the same period of 2023. The increase was primarily due to an increase in business promotion expenses.Technology and content expenses decreased by 29.2% to RMB8.5 million (US$1.2 million), or 8.8% of total revenues, from RMB12.0 million, or 8.1% of total revenues, in the same period of 2023. The decrease was primarily due to (i) the reduction in personnel costs as a result of staffing structure refinements, and (ii) reduced server costs.General and administrative expenses increased by 59.8% to RMB71.1 million (US$9.7 million), or 73.2% of total revenues, from RMB44.5 million, or 29.8% of total revenues, in the same period of 2023. The increase was primarily due to (i) an increase in severance pay as a result of staffing structure refinements, and (ii) an impairment of long-lived assets other than goodwill, partially offset by a decrease in an allowance for credit losses.

Loss from operations was RMB77.7 million (US$10.6 million), compared with RMB39.5 million in the same period of 2023.

Financial loss, net was RMB2.6 million (US$0.4 million), compared with financial loss, net of RMB23.4 million in the same period of 2023, primarily due to a decrease in the fair value changes of equity securities investments.

Net loss was RMB85.0 million (US$11.7 million), compared with RMB65.9 million in the same period of 2023.

Adjusted net loss (non-GAAP)[3] was RMB84.5 million (US$11.6 million), compared with RMB65.0 million in the same period of 2023.

Basic and diluted net loss per share attributable to ordinary shareholders were both RMB0.04 (US$0.01), compared with RMB0.03 in the same period of 2023.

Fiscal Year 2024 Unaudited Financial Results

Total revenues were RMB417.7 million (US$57.2 million), compared with RMB640.2 million in the full year of 2023. The decrease was primarily due to the same factors that led to the quarterly decrease.

Revenues from sales of merchandise were RMB330.5 million (US$45.3 million), compared with RMB500.7 million in the full year of 2023.Revenues from the marketplace business were RMB79.5 million (US$10.9 million), compared with RMB130.2 million in the full year of 2023.Other revenues were RMB7.7 million (US$1.0 million), compared with RMB9.3 million in the full year of 2023.

Total cost of revenues decreased by 36.5% to RMB211.3 million (US$28.9 million) from RMB332.8 million in the full year of 2023. This decrease was primarily attributable to the same factors that led to the quarterly decrease.

Total operating expenses were RMB349.2 million (US$47.8 million), compared with RMB403.0 million in the full year of 2023.

Fulfillment expenses decreased by 29.2% to RMB76.1 million (US$10.4 million), or 18.2% of total revenues, from RMB107.5 million, or 16.8% of total revenues, in the full year of 2023. The decrease was primarily due to the same factors that led to the quarterly decrease.Sales and marketing expenses decreased by 19.8% to RMB97.0 million (US$13.3 million), or 23.2% of total revenues, from RMB121.0 million, or 18.9% of total revenues, in the full year of 2023. The decrease was mainly due to the reduction in member management fees.Technology and content expenses decreased by 14.8% to RMB45.6 million (US$6.3 million), or 10.9% of total revenues, from RMB53.5 million, or 8.4% of total revenues, in the full year of 2023. The decrease was primarily due to the same factors that led to the quarterly decrease.General and administrative expenses increased by 7.9% to RMB130.5 million (US$17.9 million), or 31.2% of total revenues, from RMB121.0 million, or 18.9% of total revenues, in the full year of 2023. The increase was primarily due to the same factors that led to the quarterly decrease.

Loss from operations was RMB136.3 million (US$18.7 million), compared with RMB80.6 million in the full year of 2023.

Financial income, net was RMB17.3 million (US$2.4 million), compared with financial loss, net of RMB60.2 million in the full year of 2023, primarily due to an increase in the fair value changes of equity securities investments.

Net loss was RMB123.1 million (US$16.9 million), compared with RMB165.1 million in the full year of 2023.

Adjusted net loss[3] was RMB120.7 million (US$16.5 million), compared with RMB166.0 million in the full year of 2023.

Basic and diluted net loss per share attributable to ordinary shareholders were both RMB0.06 (US$0.01), compared with RMB0.08 in the full year of 2023.

Use of Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses adjusted net loss as a supplemental measure to review and assess operating performance. The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines adjusted net loss as net loss excluding share-based compensation.

The Company presents adjusted net loss because it is used by management to evaluate operating performance and formulate business plans. Adjusted net loss enables management to assess operating performance without considering the impact of share-based compensation recorded under ASC 718, “Compensation-Stock Compensation.” The Company also believes that the use of this non-GAAP measure facilitates investors’ assessment of operating performance.

This non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as an analytical tool. One of the key limitations of using adjusted net loss is that it does not reflect all items of income and expense that affect the Company’s operations. Share-based compensation has been and may continue to be incurred in Yunji’s business and is not reflected in the presentation of adjusted net loss. Further, this non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore its comparability may be limited.

The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating performance. Yunji encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.

For more information on the non-GAAP financial measures, please see the table captioned “Reconciliation of Non-GAAP Measures to the Most Directly Comparable Financial Measures” set forth at the end of this press release.

Conference Call

The Company will host a conference call on Monday, April 21, 2025 at 7:30 A.M. Eastern Time or 7:30 P.M. Beijing/Hong Kong Time to discuss its earnings. Listeners may access the call by dialing the following numbers:

International:

1-412-902-4272

United States Toll Free:

1-888-346-8982

Mainland China Toll Free:  

4001-201203

Hong Kong Toll Free:     

800-905945

Conference ID: 

Yunji Inc.

A telephone replay of the call will be available after the conclusion of the conference call for one week.

Dial-in numbers for the replay are as follows:

United States Toll Free

1-877-344-7529

International

1-412-317-0088

Replay Access Code

1068073

Safe Harbor Statements

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue” or other similar expressions. Among other things, the quotations from management in this announcement, as well as Yunji’s strategic and operational plans, contain forward-looking statements. Yunji may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Yunji’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Yunji’s growth strategies; its future business development, results of operations and financial condition; its ability to understand buyer needs and provide products and services to attract and retain buyers; its ability to maintain and enhance the recognition and reputation of its brand; its ability to rely on merchants and third-party logistics service providers to provide delivery services to buyers; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with merchants; trends and competition in China’s e-commerce market; changes in its revenues and certain cost or expense items; the expected growth of China’s e-commerce market; PRC governmental policies and regulations relating to Yunji’s industry, and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Yunji’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Yunji undertakes no obligation to update any forward-looking statement, except as required under applicable law.

About Yunji Inc.

Yunji Inc. is a leading social e-commerce platform in China that has pioneered a unique, membership-based model to leverage the power of social interactions. The Company’s e-commerce platform offers high-quality products at attractive prices across a wide variety of categories catering to the day-to-day needs of Chinese consumers. In addition, the Company uses advanced technologies including big data and artificial intelligence to optimize user experience and incentivize members to promote the platform as well as share products with their social contacts. Through deliberate product curation, centralized merchandise sourcing, and efficient supply chain management, Yunji has established itself as a trustworthy e-commerce platform with high-quality products and exclusive membership benefits, including discounted prices.

For more information, please visit https://investor.yunjiglobal.com/ 

Investor Relations Contact

Yunji Inc.
Investor Relations
Email: Yunji.IR@icrinc.com
Phone: +1 (646) 224-6957

ICR, LLC
Robin Yang
Email: Yunji.IR@icrinc.com
Phone: +1 (646) 224-6957

 

YUNJI INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except for share and per share data, unless otherwise noted)

As of

December 31,

2023

December 31,

2024

RMB

RMB

US$

ASSETS

Current Assets

Cash and cash equivalents

517,542

219,365

30,053

Restricted cash

27,169

23,467

3,215

Short-term investments

7,195

Accounts receivable, net

64,312

56,233

7,704

Advance to suppliers

14,058

9,810

1,344

Inventories, net

42,716

29,448

4,034

Amounts due from related parties

1,361

662

91

Prepaid expenses and other current assets[4]

134,247

177,187

24,275

Total current assets

808,600

516,172

70,716

Non-current assets

Property and equipment, net

175,451

205,450

28,147

Land use rights, net[5]

174,437

23,898

Long-term investments

364,159

364,534

49,941

Operating lease right-of-use assets, net

16,507

13,809

1,892

Other non-current assets[6]

189,067

78,050

10,692

Total non-current assets

745,184

836,280

114,570

Total assets

1,553,784

1,352,452

185,286

 

YUNJI INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(All amounts in thousands, except for share and per share data, unless otherwise noted)

As of

December 31,

2023

December 31,

2024

RMB

RMB

US$

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

Current Liabilities

Accounts payable

96,782

54,678

7,491

Deferred revenue

9,412

8,596

1,178

Incentive payables to members[7]

124,889

66,039

9,047

Member management fees payable

4,373

1,263

173

Other payable and accrued liabilities

109,200

126,177

17,286

Amounts due to related parties

3,535

1,645

225

Operating lease liabilities – current

3,376

3,845

527

Total current liabilities

351,567

262,243

35,927

Non-current liabilities

Operating lease liabilities

11,122

7,808

1,070

Other non-current liabilities

4,355

597

Total non-current liabilities

11,122

12,163

1,667

Total Liabilities

362,689

274,406

37,594

 

YUNJI INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(All amounts in thousands, except for share and per share data, unless otherwise noted)

As of

December 31,

2023

December 31,

2024

RMB

RMB

US$

Shareholders’ equity

Ordinary shares

70

70

10

Less: Treasury stock

(116,108)

(113,334)

(15,527)

Additional paid-in capital

7,328,680

7,328,336

1,003,978

Statutory reserve

16,254

16,726

2,291

Accumulated other comprehensive income

85,291

93,145

12,761

Accumulated deficit

(6,123,971)

(6,247,557)

(855,911)

Total Yunji Inc. shareholders’ equity

1,190,216

1,077,386

147,602

Non-controlling interests

879

660

90

Total shareholders’ equity

1,191,095

1,078,046

147,692

Total liabilities and shareholders’ equity

1,553,784

1,352,452

185,286

 

YUNJI INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(All amounts in thousands, except for share and per share data, unless otherwise noted)

For the Three Months Ended

For the Year Ended

December 31,

2023

December 31,

2024

December 31,

2023

December 31,

2024

RMB

RMB

US$

RMB

RMB

US$

Revenues:

Sales of merchandise, net

112,330

75,499

10,343

500,651

330,535

45,283

Marketplace revenue

34,259

19,451

2,665

130,188

79,466

10,887

Other revenues

2,558

2,173

298

9,370

7,650

1,048

Total revenues

149,147

97,123

13,306

640,209

417,651

57,218

Operating cost and expenses:

Cost of revenues

(79,613)

(50,240)

(6,883)

(332,774)

(211,311)

(28,949)

Fulfilment

(24,845)

(16,372)

(2,243)

(107,472)

(76,126)

(10,429)

Sales and marketing

(28,478)

(30,173)

(4,134)

(121,039)

(96,965)

(13,284)

Technology and content

(12,033)

(8,492)

(1,163)

(53,490)

(45,627)

(6,251)

General and administrative

(44,477)

(71,146)

(9,747)

(120,951)

(130,462)

(17,873)

Total operating cost and expenses

(189,446)

(176,423)

(24,170)

(735,726)

(560,491)

(76,786)

Other operating income

780

1,650

226

14,898

6,544

896

Loss from operations

(39,519)

(77,650)

(10,638)

(80,619)

(136,296)

(18,672)

Financial (loss)/ income, net

(23,427)

(2,578)

(353)

(60,226)

17,333

2,375

Foreign exchange income/(loss), net

723

(2,608)

(357)

(6,743)

2,127

291

Other non-operating income/(loss),

 net

31

158

22

(2,405)

785

108

Loss before income tax expense, and
equity in loss of affiliates, net of tax

(62,192)

(82,678)

(11,326)

(149,993)

(116,051)

(15,898)

Income tax expense

(1,328)

(368)

(50)

(7,851)

(2,009)

(275)

Equity in loss of affiliates, net of tax

(2,331)

(1,998)

(274)

(7,276)

(5,061)

(693)

Net loss

(65,851)

(85,044)

(11,650)

(165,120)

(123,121)

(16,866)

Less: net income/(loss) attributable to
non-controlling interests shareholders

11

9

1

9

(11)

(2)

Net loss attributable to YUNJI INC.

(65,862)

(85,053)

(11,651)

(165,129)

(123,110)

(16,864)

 

YUNJI INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (CONTINUED)

(All amounts in thousands, except for share and per share data, unless otherwise noted)

For the Three Months Ended

For the Year Ended

December 31,

2023

December 31,

2024

December 31,

2023

December 31,

2024

RMB

RMB

US$

RMB

RMB

US$

Net loss attributable to ordinary shareholders

(65,862)

(85,053)

(11,651)

(165,120)

(123,110)

(16,864)

Net loss

(65,851)

(85,044)

(11,650)

(165,120)

(123,121)

(16,866)

Other comprehensive income

 Foreign currency translation adjustment

(10,302)

12,023

1,647

22,178

7,854

1,076

Total comprehensive loss

(76,153)

(73,021)

(10,003)

(142,942)

(115,267)

(15,790)

Less: total comprehensive income/(loss) attributable to non-
controlling interests shareholders

11

9

1

9

(11)

(2)

Total comprehensive loss attributable to YUNJI INC.

(76,164)

(73,030)

(10,004)

(142,951)

(115,256)

(15,788)

Net loss attributable to ordinary shareholders

(65,862)

(85,053)

(11,651)

(165,129)

(123,110)

(16,864)

Weighted average number of ordinary shares used in computing
net loss per share, basic and diluted

1,966,998,532

1,968,797,989

1,968,797,989

1,971,108,505

1,967,498,669

1,967,498,669

Net loss per share attributable to ordinary shareholders

Basic

(0.03)

(0.04)

(0.01)

(0.08)

(0.06)

(0.01)

Diluted

(0.03)

(0.04)

(0.01)

(0.08)

(0.06)

(0.01)

 

YUNJI INC.

NOTES TO UNAUDITED FINANCIAL INFORMATION

(All amounts in thousands, except for share and per share data, unless otherwise noted)

For the Three Months Ended

For the Year Ended

December 31,

2023

December 31,

2024

December 31,

2023

December 31,

2024

RMB

RMB

US$

RMB

RMB

US$

Share-based compensation expenses included in:

Technology and content

401

349

48

1,554

1,450

198

General and administrative

377

164

22

503

774

106

Fulfillment

46

35

5

(2,525)

92

13

Sales and marketing

57

35

5

(417)

114

16

Total

881

583

80

(885)

2,430

333

 

YUNJI INC.

RECONCILIATION OF NON-GAAP MEASURES TO THE MOST DIRECTLY COMPARABLE FINANCIAL MEASURES

(All amounts in thousands, except for share and per share data, unless otherwise noted)

For the Three Months Ended

For the Year Ended

December 31,

2023

December 31,

2024

December 31,

2023

December 31,

2024

RMB

RMB

US$

RMB

RMB

US$

Reconciliation of Net Loss to Adjusted Net Loss:

Net loss

(65,851)

(85,044)

(11,650)

(165,120)

(123,121)

(16,866)

Add: Share-based compensation

881

583

80

(885)

2,430

333

Adjusted net loss

(64,970)

(84,461)

(11,570)

(166,005)

(120,691)

(16,533)

 

[1]. This announcement contains translations of certain Renminbi (RMB) amounts into U.S. dollars (US$) at a specified rate solely for the convenience of the reader. Unless otherwise noted, the translation of RMB into US$ has been made at RMB7.2993 to US$1.00, the exchange rate in effect as of December 31, 2024 as set forth in the H.10 statistical release of The Board of Governors of the Federal Reserve System.
[2]. “Repeat purchase rate” in a given period is calculated as the number of transacting members who purchased not less than twice divided by the total number of transacting members during such period. “Transacting member” in a given period refers to a member who successfully promotes Yunji’s products to generate at least one order or places at least one order on Yunji’s platform, regardless of whether any product in such order is ultimately sold or delivered or whether any product in such order is returned. “Repeat purchase rate” only considers orders placed through the Company’s app. Repeat purchases made through the Company’s mini-programs are excluded from the calculation.
[3]. Adjusted net loss is a non-GAAP financial measure, which is defined as net loss excluding share-based compensation expense. See “Reconciliation of Non-GAAP Measures to the Most Directly Comparable Financial Measures” set forth at the end of this press release.
[4]. As of December 31, 2024, Short-term loan receivables of amount RMB149,570 were included in the prepaid expenses and other current assets balance, which represent the principal and interest to be collected on loans provided by the Group to third-party companies.
[5]. In June 2024, the Company won the bid for a parcel of land located in Xiaoshan District, Hangzhou, China, covering approximately 10 thousand square meters (the “Hangzhou Land Parcel”) and entered into an agreement with the local government to acquire the land use right of the Hangzhou Land Parcel for an aggregate consideration of approximately RMB171.5 million. In July 2024, the Company obtained the certificate of the land use right and carried the land use right at cost less accumulated amortization and impairment losses, if any. The Company intends to construct a new office building on the Hangzhou Land Parcel to use it as its new headquarters and also lease offices to external parties. The total amount for the land acquisition and office building construction is expected to be approximately RMB600.0 million. The Company intends to fund the land acquisition and building construction through cash on hand and bank financing.
[6]. Impairment of long-lived assets other than goodwill recognized for the years ended December 31, 2023 and 2024 was nil and RMB26.1 million, respectively, which was recorded in general and administrative expenses.
[7]. As of December 31, 2024, the decrease in incentive payables was primarily due to derecognition of long-aged payables to inactive members.

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SOURCE Yunji Inc.

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Technology

LG INSTAVIEW™ REFRIGERATOR SURPASSES 5.3 MILLION IN GLOBAL SALES

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Chosen by Customers Worldwide, LG’s Instaview Refrigerator Innovation Continues to Redefine the Kitchen Experience a Decade After Its Debut

News Summary

LG Electronics’ InstaView™ refrigerator celebrates the 10th anniversary of its 2016 launch by exceeding 5.3 million units in cumulative global sales.LG’s iconic “Knock Twice, See Inside” feature broke convention, offering a blend of user convenience, energy efficiency, and aesthetic value that set a new industry standard.LG InstaView refrigerators continue to gain traction worldwide, leading the refrigerator category in North America while seeing significant growth across Europe, Asia and Latin America.Over the past decade, LG InstaView refrigerator has won numerous prestigious design and innovation awards, including Red Dot, iF, IDEA and CES.

SEOUL, South Korea, July 24, 2026 /PRNewswire/ — LG Electronics’ (LG) InstaView™ refrigerator, which allows users to see inside without opening the door, has reached a major milestone on its 10th anniversary, surpassing 5.3 million units in cumulative global sales since its 2016 launch.

Trusted by Consumers Around the World

Since launching the LG InstaView refrigerator in 2016, LG has sold a remarkable 5.3 million units – equivalent to selling roughly one unit every minute.

LG InstaView refrigerator has seen strong customer demand globally, with North America representing its strongest market and accounting for about 30 percent of cumulative sales to date. In Europe, InstaView refrigerator has also been well received by consumers who place high value on energy efficiency, sustainability and food preservation performance. Sales are also steadily rising in Asia and Latin America, driven by growing demand for premium appliances.

An Innovation That Redefined the Refrigerator

InstaView redefined how consumers interact with their refrigerators by allowing them to see inside without opening the door. This feature allows users to check the fridge’s contents without opening the door and helps reduce unnecessary cold-air loss associated with frequent door opening. Over the past decade, its innovation has been recognized by international media and honored with numerous accolades from major global design and innovation awards, including the Red Dot Design Award, iF Design Award, IDEA, and the CES Innovation Award.

From Functional Benefit to Lifestyle Value

LG’s analysis of global customer reviews shows that consumer appreciation for the InstaView refrigerator and its eponymous feature has evolved over time, shifting from an initial focus on the functional benefits to the overall sense of satisfaction that it provides. While early feedback centered on the convenience of knocking twice to see inside and the reduction of cold air loss, more recent reviews increasingly highlight InstaView’s refined design and the enjoyment it brings to everyday kitchen use.

“For a decade now, LG InstaView refrigerator has stood as a testament to our leadership in the home appliance market and to our deep understanding of customers’ lifestyles,” said Baek Seung-tae, president of the LG Home Appliance Solution Company. “This milestone reflects our success in creating not just an innovative feature, but a more convenient and enjoyable kitchen experience. Building on our advanced AI, refrigeration and food preservation technologies, we will continue to lead the evolution of the kitchen experience with customer-centric innovations.”

About LG Electronics Home Appliance Solution Company

The LG Home Appliance Solution Company (HS) is a global leader in home appliances and AI home solutions. By leveraging industry-leading core technologies, the HS Company is committed to enhancing consumers’ quality of life and promoting sustainability. The company develops thoughtfully designed kitchen and living appliance solutions and has recently integrated LG’s Robot Business Division to incorporate advanced robot technologies into its home solutions. Together, these products offer enhanced convenience, exceptional performance, efficient operation and sustainable lifestyle solutions. For more news on LG, visit www.LG.com/global/newsroom/

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Alpha Ladder Hosts Globalization Forum, Debuts Proprietary AI Platform AgentX

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HONG KONG, July 24, 2026 /PRNewswire/ — On 9 July, Alpha Ladder hosted a tech globalization forum at LEAP East 2026 in Hong Kong under the theme “Connecting Industrial Innovation, Unlocking New Global Growth Opportunities” — and used the occasion to officially unveil AgentX, its proprietary AI‑powered solution.

The session brought together more than a dozen distinguished speakers from sectors spanning artificial intelligence, embodied intelligence, biotechnology, fintech, enterprise services, and legal — all of whom shared first‑hand observations and practical experience navigating global expansion.

Paul Pang, Head of AI at Alpha Ladder, unveiled the Group’s new financial AI agent, AgentX, during the product launch. He observed that the rapid proliferation of AI agents has rendered traditional cross‑border financial delivery models ill‑suited to the evolving AI industry landscape. Conventional local plugin integrations carry significant risks, including code tampering, data leakage, and compromised asset security.

He also noted that expanding enterprises frequently face a persistent disconnect between their business tools and financial pipelines. Core operational systems — covering expense reimbursement, payroll, and account reconciliation — often operate in silos, isolated from cross‑border payment and treasury management frameworks. The resulting reliance on manual workflows leads to chronic inefficiency and inflated operating costs.

To tackle these industry pain points head‑on, Alpha Ladder introduced AgentX — a purpose‑built platform grounded in its proprietary AI‑native architecture. Powered by the Core Finance skill suite and the standardised MCP protocol, AgentX is compatible with all major large language models and enables AI agents to directly access Alpha Ladder’s full spectrum of cross‑border financial services.

The platform is further equipped with VisionX, an intelligent risk control engine that performs cross‑verification across multiple data sources to significantly sharpen the detection of on‑chain risks. A built‑in regulatory sandbox ensures full segregation of transactions and data within compliance boundaries, effectively closing critical security gaps that have long plagued the industry.

Beyond its core risk and compliance capabilities, AgentX offers extensive ecosystem adaptability, enabling rapid integration with vertical use cases such as travel reimbursement, global payroll, and asset management — creating a unified, closed‑loop framework that bridges business operations and finance. Through its open ecosystem model, AgentX empowers small and mid‑sized enterprises expanding globally by tearing down the silos between operational workflows and cross‑border financial services. In doing so, it delivers one‑stop, intelligent cross‑border financial services and drives comprehensive AI‑driven transformation across globalising industries.

Yao Yuan, Vice President of AgiBot for MENA, Turkey, and Asia Pacific, remarked that 2026 marks the year AgiBot transitions from R&D to commercial deployment. Having spent the previous three years honing its products and technology while consolidating its position in the domestic market, the company is now scaling up commercial operations and accelerating its global expansion.

He articulated three core pillars underpinning AgiBot’s global strategy. First, the company is moving to seize the critical window for mass industrial adoption as the embodied intelligence sector enters a new growth cycle. Second, humanoid robots are emerging as a key enabler of industrial upgrading and national digital transformation strategies across economies. Third, overseas deployment, data accumulation, and localized delivery are creating a valuable feedback loop — one that feeds back into domestic R&D and forms a closed loop connecting global technology development with commercial execution.

Luo Yi, General Manager of 51Aes South China (a subsidiary of 51World), shared that the company was officially listed on the Hong Kong Stock Exchange on 30 December 2025 under the ticker 6651.HK. Guided by its vision to digitally replicate the Earth’s 510 million square kilometres, 51World is committed to building a seamless bridge between the digital and physical worlds.

As the industry enters a new era of Physical AI, physically accurate digital simulation environments have become a fundamental prerequisite for large‑scale training of embodied intelligent systems. Leveraging three core pillars — global spatial foundation models, simulation training platforms, and synthetic data pipelines — the company has built a complete, closed-loop technology system. Its commercial portfolio comprises three flagship offerings: the 51Aes digital twin platform, the 51Sim synthetic data and simulation platform, and the 51Earth digital earth platform.

As the core engine powering Physical AI, 51Sim delivers high‑fidelity simulation training environments and robust synthetic data generation capabilities for embodied intelligence sectors including autonomous driving, smart equipment, and robotics. It enables efficient training and validation of AI systems within virtual environments and currently serves over 100 enterprise clients across autonomous mobility and embodied intelligence verticals. Looking ahead, the company will continue to deepen the integration of AI with the real economy, unlocking greater technological value and industrial impact across broader global markets.

Xu Leyang, Co‑founder of Seekee, observed that vast segments of the global population have yet to gain meaningful access to AI. With “everyday users” at the heart of its mission, Seekee is building accessible, consumer‑facing AI products tailored for the world’s two billion ordinary people.

The team has strategically focused on Latin America — an underserved blue‑ocean market largely overlooked by major tech players. Few leading global large language models have dedicated meaningful R&D or localisation efforts to Spanish and Portuguese, the region’s dominant languages. By capitalising on the region’s distinctive linguistic landscape, local user behaviour patterns, and a proprietary repository of region‑specific language data amassed over time, Seekee has built a competitive moat that is difficult to replicate.

According to Sensor Tower, a mobile analytics platform, Seekee ranked eighth globally in the 2025 generative AI app download charts. Within Latin America, its brand recognition is on par with ChatGPT. Launched just over a year ago, the platform has already amassed tens of millions of monthly active users and demonstrated strong user retention.

Wu Xin, Partner and Global Head of AI Applications at BorderX Lab, delivered a presentation themed “Power of Agent Plus.” Drawing on real‑world deployments within the fashion and luxury sectors, he explained that AI agents are fundamentally reshaping traditional cross‑border industries and unlocking significant efficiency gains across the entire value chain.

E‑commerce, he noted, is undergoing a paradigm shift. Competition has moved beyond capturing user attention to precisely identifying consumer intent, with AI agents emerging as a critical instrument for surfacing latent global consumption demand. Powered by proprietary technology and data infrastructure, BorderX Lab has built a global consumer network that is helping redefine how Chinese cross‑border consumer tech reaches the world.

He further observed that agent‑enabled payments will form the bedrock of agent‑driven e‑commerce, and expressed optimism about jointly exploring blue‑ocean opportunities with Alpha Ladder.

Yang Mingyuan, Senior Investment & Financing Manager at QCraft, observed that among the broader Physical AI landscape, autonomous driving stands out as the first segment to achieve mass production at scale, sustainable commercial profitability, and rapid real‑world deployment.

The company’s core competitive advantage lies in its unified, self‑developed technical foundation — one that underpins both its L2+ advanced driver assistance systems and its multi‑scenario L4 autonomous driving capabilities. This homologous architecture also serves as a strategic springboard for QCraft’s broader push into general Physical AI. Its fully in‑house toolchain and data platform form a formidable competitive moat, while the company’s “Autonomous Driving Super Factory” system standardises the entire model training and simulation testing lifecycle — covering the full data pipeline to enable continuous, high‑velocity iteration and optimisation of its algorithm models.

He Liang, Chief Financial Officer of Yidianyun, shared that the company — a leading domestic provider of office IT infrastructure — is now pivoting to become an office AI infrastructure enabler. Its mission is to lower the barrier to AI compute access for enterprises through remanufacturing technology and subscription‑based models.

Yidianyun has built a four‑tier business framework that underpins its cost and service advantages, with a strategic focus on edge‑side AI hardware across AI PCs, AI workstations, and AI servers. He noted that direct procurement of AI hardware entails substantial one‑off capital expenditure for small and medium‑sized enterprises. Subscription models, by contrast, significantly ease funding pressure and hedge against upfront investment risk — a key factor driving the rapid growth of its proprietary AI workstation business.

For overseas expansion, Yidianyun plans to launch pilot cross‑border operations from Hong Kong as its initial hub, with the potential to extend its reach to additional international markets in due course.

Liu Chenxin, Assistant to the Director of the National Institute of Biological Sciences, Beijing (NIBS), shared insights at the forum. With a strong track record in research commercialisation, NIBS has incubated a number of benchmark biopharma companies including Huahui Anjian, Vitaraylon, and Denovo Biotech. Drawing on years of translational experience, the institute has comprehensively upgraded its established commercialisation framework and officially launched BISON — a new innovation incubation hub designed to tackle the persistent high‑risk challenges inherent in biopharmaceutical investment through a unique translational model and commercial logic.

Unlike conventional technology‑driven incubation models, BISON places market demand at the core of its approach. It partners with leading tertiary hospitals to identify clinical pain points at the front end, while aligning with pharmaceutical companies at the back end to reverse‑engineer original drug pipelines based on industry needs. Looking ahead, BISON will continue to leverage its deep foundation in original research to incubate high‑value biopharmaceutical innovations, helping domestically developed first‑in‑class drugs reach global markets and supporting the international expansion of China’s biotech industry.

Lei Zhicheng, Deputy General Manager of Mango Finance Limited, observed that the institutional advantages of Hong Kong’s capital market, combined with deepening economic and trade ties with the Middle East, have opened up new channels for Chinese tech innovators to access global capital. Closely aligned with policy directions and enterprises’ internationalisation ambitions, Mango Finance is focused on listing incubation and cross‑border expansion services, fostering service synergies through close collaboration with a diverse network of professional partners.

As an established securities firm, the company is steadily expanding its digital finance footprint in step with regulatory developments. Lei expressed keen interest in establishing system‑level connectivity with Alpha Ladder, and leveraging AI and cutting‑edge digital technologies to accelerate the digital transformation and upgrade of traditional securities operations.

Kevin Chen, CEO of Boost Bank and Founder of Aicapay, observed that as the Belt and Road Initiative continues to gain momentum, emerging markets across Africa, the Middle East, and Latin America are undergoing rapid economic and industrial transformation. Combined with surging outbound investment and cross‑border trade from China, the cross‑border finance sector in these markets presents enormous growth potential.

Boost Bank specialises in building localised compliance frameworks. Backed by multi‑jurisdictional licences, on‑the‑ground risk control teams, and deep‑rooted local financial resources, the company has established a fully integrated, end‑to‑end cross‑border capital loop — delivering tailored, client‑specific solutions for enterprises expanding globally. Chen underscored the strong strategic complementarity between the two firms and signalled Boost Bank’s intent to join forces with Alpha Ladder in building a fintech service ecosystem that empowers Chinese companies to seize opportunities in emerging markets worldwide.

Yin Li, Partner at Shanghai Landi Law Firm, shared that the firm established its first overseas offices a decade ago, making it one of China’s early legal practices to focus on cross‑border corporate services. It provides Chinese enterprises with full‑spectrum legal support spanning overseas investment filing, intellectual property protection, and cross‑border capital repatriation.

Against a backdrop where overseas expansion has evolved from conventional trade to high‑value industrial globalisation — marked by the coordinated export of technology, production capacity, and capital — and given the strong alignment between Middle Eastern development agendas and the Belt and Road Initiative, Chinese enterprises pursuing comprehensive deployment in the region have generated robust demand for localised legal services. This, he noted, is the key driver behind the firm’s intensified focus on the Middle East market.

Yin emphasised that proactive compliance is the core moat for enterprises going global. Businesses must conduct thorough assessments of local regulatory and legal frameworks before entering overseas markets. Leveraging its “on‑the‑ground global presence” model — with coordinated teams across China and multiple international jurisdictions — the firm conducts advance due diligence to identify and mitigate legal risks inherent in cross‑border operations.

About Alpha Ladder:

Alpha Ladder is a Singapore-regulated fintech group focused on developing a world-leading, one-stop, fully compliant financial infrastructure — delivering secure, efficient cross-border financial solutions for enterprises going global. The Group holds core licences issued by the Monetary Authority of Singapore (MAS), covering securities, futures, fund management, custody, RWA asset exchange, and Major Payment Institution (MPI). We also maintain regulatory approvals in Canada, and are actively expanding our footprint across key global financial hubs including Switzerland, Dubai, and Hong Kong, building a globally compliant regulatory network. By leveraging AI to reshape compliance, risk management, and treasury operations, Alpha Ladder empowers enterprises to reduce costs, enhance efficiency, and achieve sustainable global growth.

For more information, please visit our official website: www.alphaladder.hk

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UOB Asset Management Highlights Global Resilience Despite Heightened Uncertainty

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SINGAPORE, July 24, 2026 /PRNewswire/ — UOB Asset Management (UOBAM) has released its 3Q 2026 Quarterly Investment Strategy, highlighting the global economy’s resilience in the face of persistent headwinds, including inflation, tariffs, geopolitical tensions and energy market volatility.

Despite repeated challenges over the past 18 months, economic activity has remained robust. Corporate earnings have held up across major regions, labour markets have remained resilient, and continued investment in artificial intelligence (AI) infrastructure is providing a powerful tailwind for growth.

While uncertainty remains elevated, the global economy’s resilience has reinforced confidence that the current expansion remains durable, even as risks continue to evolve.

On interest rates, UOBAM’s base case is that the US Federal Reserve is more likely to remain on an extended pause than embark on a new rate-hiking cycle. Although inflation remains sticky and recent geopolitical developments have raised upside risks, the firm continues to see evidence of moderating underlying inflation pressures, particularly in housing and wages.

Within equities, UOBAM remains positive on Asia and has upgraded Onshore China to overweight from underweight. Despite strong market gains, Asia continues to trade at a valuation discount to global equities, even as earnings growth has accelerated. UOBAM believes this combination of strong earnings momentum and attractive valuations presents a compelling opportunity for investors. In China, improving industrial profits and continued growth in higher-value sectors have strengthened the investment case for selected areas of the market, particularly those linked to AI, semiconductors, energy infrastructure and advanced manufacturing.

Anthony Raza, Head of UOBAM Multi-Asset Strategy, said, “The key story for investors is that the global economy has repeatedly withstood shocks without derailing growth. Despite a more uncertain backdrop, we continue to see attractive opportunities in Asia, where strong earnings growth is supported by compelling valuations, and we maintain gold as a preferred allocation as investors navigate an increasingly complex environment.”

In its asset allocation strategy, UOBAM remains overweight equities, diversified across fixed income and underweight cash. The firm continues to favour the United States and Asia within equities, while retaining a positive outlook on gold. Supported by strong central bank demand and its role as a safe-haven asset during periods of uncertainty, gold remains an important source of portfolio diversification.

For deeper insights across equities, fixed income, currencies and commodities, read the full 3Q 2026 Investment Strategy: https://uobam.com.sg/qis3q26

About UOB Asset Management

UOB Asset Management Ltd (UOBAM) is a wholly-owned subsidiary of United Overseas Bank Limited. Established in 1986, UOBAM has 40 years of experience in managing collective investment schemes and discretionary funds in Singapore, making us among the largest unit trust managers by assets under management. As of 30 June 2026, we manage 63 unit trusts in Singapore and together with our subsidiaries, oversee S$44.3 billion in clients’ assets.

Headquartered in Singapore, UOBAM has a strong presence across Asia, with business and investment offices in Brunei, Indonesia, Japan, Malaysia, Thailand and Vietnam. Our network includes UOB Islamic Asset Management Sdn Bhd in Malaysia, a joint venture with Ping An Fund Management Company Limited (China) and strategic alliances with partners such as Wellington Management Singapore.

UOBAM is one of the region’s most awarded asset managers, with over 380 awards won. In 2025, we were recognised as the Best Regional Asset Management Company by the Asia Asset Management and previously named Best Asset Management House in Asia – 20 Years in 2023. Our digital innovation has also earned top honours, including Best Digital Wealth Management in Asia[1] and Best Robo Advisory Initiative[2] for four consecutive years as of 2025.

As a leader in sustainable investing, UOBAM was awarded Best application of ESG in ASEAN[3] (2023) and has received multiple sustainability accolades in Indonesia and Thailand. Our artificial intelligence capabilities were also recognised with the Most Innovative Application of Artificial Intelligence (ASEAN) for three consecutive years[4].

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[1] Awarded by Asia Asset Management

[2] Awarded by The Digital Banker for the Global Retail Banking Innovations Award

[3] Awarded by Asia Asset Management

[4] As of 2026, by Asia Asset Management

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