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Cango Inc. Reports First Quarter 2025 Unaudited Financial Results

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SHANGHAI, May 14, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Company”) today announced its unaudited financial results for the first quarter of 2025.

First Quarter 2025 Financial and Operational Highlights

Total revenues were RMB1.1 billion (US$145.2 million), a significant increase from RMB64.4 million in the same period of 2024. This surge was primarily attributable to our Bitcoin mining business, which generated revenues of RMB1.0 billion (US$144.2 million) in the quarter.

A total of 1,541 Bitcoins were mined during the quarter. The average cost to mine Bitcoin, excluding depreciation of mining machines, was US$70,602.1 per Bitcoin in the quarter.

Adjusted EBITDA was RMB27.6 million (US$3.8 million) in the first quarter of 2025.

The total balance of cash and cash equivalents and short-term investments was RMB2.5 billion (US$347.4 million) as of March 31, 2025.

The total outstanding balance of financing transactions the Company facilitated was RMB2.6 billion (US$358.4 million) as of March 31, 2025. Our credit risk exposure has decreased, with only RMB762.4 million (US$105.1 million) of outstanding loan balances where the Company bears credit risks that have not been provided with full bad debt allowance or full risk assurance liabilities. M1+ and M3+ overdue ratios for all outstanding financing transactions facilitated by the Company that have not been provided with full bad debt allowance or full risk assurance liabilities were 2.86% and 1.59%, respectively, as of March 31, 2025, compared with 3.24% and 1.78%, respectively, as of December 31, 2024.

Mr. Jiayuan Lin, Chief Executive Officer of Cango, commented, “The first quarter of 2025 marked a new chapter of growth for Cango following our entry into the Bitcoin mining industry in November 2024. Fueled by the strong performance of our mining operations, we generated total revenues of RMB1.1 billion for the quarter. Throughout the quarter, we focused on enhancing our operational efficiency and mined a total of 1,541 Bitcoins, up substantially from 933.8 Bitcoins last quarter. By the end of April, we produced 2,945 Bitcoins from the inception of our Bitcoin mining business.”

“Given our strong confidence in the Bitcoin‘s long-term value appreciation potential, we have adopted a “Mine and Hold” strategy, prioritizing both self-mining and long-term holding. Currently, we operate 32 EH/s of computing power, positioning us among the world’s top-tier Bitcoin miners. We expect to add another 18 EH/s by the end of July 2025. Looking ahead, we will continue to consolidate and optimize our existing computing resources to maximize efficiency while actively exploring high-quality M&A opportunities to further scale our operations and deliver long-term value to all stakeholders,” concluded Mr. Lin.

Mr. Yongyi Zhang, Chief Financial Officer of Cango, stated, “We are pleased to report another solid financial performance this quarter, highlighted by total revenue of RMB1.1 billion and a strong balance sheet. We also continued to reduce our credit risk exposure, further bolstering our financial position and flexibility. Supported by this robust foundation, we are well-positioned to expand the Bitcoin mining business and holistically drive the Company’s growth.”

First Quarter 2025 Financial Results

REVENUES

Total revenues in the first quarter of 2025 were RMB1.1 billion (US$145.2 million), compared with RMB64.4 million in the same period of 2024. The significant year-over-year increase was primarily driven by the Bitcoin mining business launched in November 2024.

Revenue from the Bitcoin mining business was RMB1.0 billion (US$144.2 million), with a total of 1,541 Bitcoins mined in the first quarter of 2025.

Revenue from automotive trading-related income[1] was RMB7.6 million (US$1.0 million), compared with RMB64.4 million in the same period of 2024.

OPERATING COSTS AND EXPENSES

Total operating costs and expenses in the first quarter of 2025 were RMB1.2 billion (US$166.7 million). These costs were primarily associated with our Bitcoin mining business.

Cost of revenue in the first quarter of 2025 was RMB955.1 million (US$131.6 million), compared with RMB29.1 million in the same period of 2024.

Sales and marketing expenses in the first quarter of 2025 were RMB415,981 (US$57,324), compared with RMB3.5 million in the same period of 2024.

General and administrative expenses in the first quarter of 2025 were RMB92.5 million (US$12.8 million), compared with RMB37.9 million in the same period of 2024.

Research and development expenses in the first quarter of 2025 were RMB324,991 (US$44,785), compared with RMB1.1 million in the same period of 2024.

Net gain on contingent risk assurance liabilities in the first quarter of 2025 was RMB5.3 million (US$726,124), compared with RMB15.0 million in the same period of 2024.

Net recovery on provision for credit losses in the first quarter of 2025 was RMB28.7 million (US$4.0 million), compared with RMB66.3 million in the same period of 2024.

INCOME (LOSS) FROM OPERATIONS

Loss from operations in the first quarter of 2025 was RMB155.5 million (US$21.4 million) compared with income from operations of RMB74.2 million in the same period of 2024.

NET INCOME (LOSS) AND NET INCOME (LOSS) PER ADS

Net loss in the first quarter of 2025 was RMB207.4 million (US$28.6 million) compared with net income of RMB90.0 million in the same period of 2024. Basic and diluted net loss per American Depositary Share (the “ADS”) in the first quarter of 2025 were both RMB2.00 (US$0.28). Each ADS represents two Class A ordinary shares of the Company.

ADJUSTED EBITDA

Adjusted EBITDA in the first quarter of 2025 was RMB27.6 million (US$3.8 million) compared with RMB108.4 million in the same period of 2024.

BALANCE SHEET

As of March 31, 2025, the Company had cash and cash equivalents of RMB2.5 billion (US$346.7 million) compared with RMB1.3 billion as of December 31, 2024.

As of March 31, 2025, the Company had short-term investments of RMB5.2 million (US$715,049) compared with RMB1.2 billion as of December 31, 2024.

Business Outlook

We currently maintain a deployed hashrate of 32 EH, demonstrating our operational resilience. As part of our continued commitment to growth and scaling our capabilities, we are targeting a substantial increase in our hashrate over the coming months. We are on track to grow our deployed hashrate to approximately 50 EH before the end of July. This increase is expected to be driven by the closing of our share-settled acquisition of Bitcoin mining assets, positioning us to strengthen our competitive advantage and increase operational efficiency.

Share Repurchase Program

Pursuant to the share repurchase program announced on April 23, 2024, the Company had repurchased 996,640 ADSs with cash in the aggregate amount of approximately US$1.7 million as of April 25, 2025, the day on which the program expired.

Conference Call Information

The Company’s management will hold a conference call on Wednesday, May 14, 2025, at 9:00 P.M. Eastern Time or Thursday, May 15, 2025, at 9:00 A.M. Beijing Time to discuss the financial results. 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:

4001-201-203

Hong Kong, China Toll Free:

800-905-945

Conference ID:

Cango Inc.

The replay will be accessible through May 21, 2025, by dialing the following numbers:

International:

+1-412-317-0088

United States Toll Free:

+1-877-344-7529

Access Code:

8016651

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at http://ir.cangoonline.com.

About Cango Inc.

Cango Inc. (NYSE: CANG) primarily operates a leading Bitcoin mining business. Cango has deployed its mining operation across strategic locations including North America, Middle East, South America, and East Africa. Cango expanded into the crypto assets market in November 2024, driven by the development in blockchain technology, increasing prevalence of crypto assets and its endeavor to diversify its business. Meanwhile, Cango has continued to operate the automotive transaction service in China since 2010, aiming to make car purchases simple and enjoyable. For more information, please visit: www.cangoonline.com. 

Definition of Overdue Ratios

The Company defines “M1+ overdue ratio” as (i) exposure at risk relating to financing transactions for which any installment payment is 30 to 179 calendar days past due as of a specified date, divided by (ii) exposure at risk relating to all financing transactions which remain outstanding as of such date, excluding amounts of outstanding principal that are 180 calendar days or more past due.

The Company defines “M3+ overdue ratio” as (i) exposure at risk relating to financing transactions for which any installment payment is 90 to 179 calendar days past due as of a specified date, divided by (ii) exposure at risk relating to all financing transactions which remain outstanding as of such date, excluding amounts of outstanding principal that are 180 calendar days or more past due.

Use of Non-GAAP Financial Measure

As part of our review of business performance, we present adjusted EBITDA as Non-GAAP financial measure to help assess our core operating results. Adjusted EBITDA is defined as net income before interest, taxes, depreciation, and amortization, and further excludes share-based compensation expenses and other non-operating income and expenses. We believe Adjusted EBITDA can be an important financial measure because it allows management, investors, and our board of directors to evaluate and compare our operating results, including our return on capital and operating efficiency from period-to-period by making such adjustments.

While adjusted EBITDA is not a measure defined under U.S. GAAP, management uses it to evaluate performance, make strategic decisions, and set operating plans. Management believes it also helps investors gain a clearer understanding of our underlying performance by excluding certain costs and expenses that management believes are not indicative of its core operating results. The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for results or guidance prepared and presented in accordance with U.S. GAAP.

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 the Company’s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.

Reconciliations of Cango’s Non-GAAP financial measure to the most comparable U.S. GAAP measure are included at the end of this press release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB7.2567 to US$1.00, the noon buying rate in effect on March 31, 2025, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the “Business Outlook” section and quotations from management in this announcement, contain forward-looking statements. Cango may also make written or oral forward-looking statements in its periodic reports to 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 statements about Cango’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: Cango’s goal and strategies; Cango’s expansion plans; Cango’s future business development, financial condition and results of operations; Cango’s expectations regarding demand for, and market acceptance of, its solutions and services; Cango’s expectations regarding keeping and strengthening its relationships with dealers, financial institutions, car buyers and other platform participants; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Cango’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 Cango does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact

Yihe Liu
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
Email: ir@cangoonline.com 

Helen Wu
Piacente Financial Communications
Tel: +86 10 6508 0677
Email: ir@cangoonline.com

[1] Revenue from automotive trading related income consists revenues generated from loan facilitation income and other related income, guarantee income, leasing income, after-market services income, automotive trading income and others.

 

CANGO INC.
UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEET
(Amounts in Renminbi (“RMB”) and US dollar (“US$”), except for number of shares and per share data)

 As of December 31,
2024 

As of March 31,
2025

 (Audited) 

(Unaudited)

(Unaudited)

 RMB 

 RMB 

 US$ 

ASSETS:

Current assets:

Cash and cash equivalents

1,289,629,981

2,515,712,358

346,674,433

Restricted cash – current

10,813,746

11,210,722

1,544,879

Short-term investments, net

1,231,171,751

5,188,899

715,049

Accounts receivable, net

22,991,951

15,801,108

2,177,451

Finance lease receivables – current, net

20,685,475

19,332,969

2,664,154

Financing receivables, net

5,685,096

3,722,236

512,938

Short-term contract asset, net

33,719,944

19,860,987

2,736,917

Prepayments and other current assets, net 

226,352,004

362,016,043

49,887,145

Receivable for bitcoin collateral, net

617,057,765

1,464,654,137

201,834,737

Total current assets

3,458,107,713

4,417,499,459

608,747,703

Non-current assets:

Restricted cash – non-current

287,425,602

161,939,581

22,315,871

Long-term investment

400,000,000

55,121,474

Mining machines, net

1,772,319,041

1,619,608,093

223,187,963

Property and equipment, net

6,634,509

6,205,894

855,195

Intangible assets, net

47,425,617

47,259,479

6,512,530

Long-term contract asset, net

17,551,040

348,864

48,075

Finance lease receivables – non-current, net

9,309,227

3,648,111

502,723

Operating lease right-of-use assets, net

40,788,977

38,789,517

5,345,338

Other non-current assets, net

329,761,833

359,761,832

49,576,506

Total non-current assets

2,511,215,846

2,637,561,371

363,465,675

TOTAL ASSETS

5,969,323,559

7,055,060,830

972,213,378

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Short-term debts

124,584,293

790,393,522

108,919,140

Accrued expenses and other current liabilities

1,348,300,779

1,999,990,186

275,606,016

Deferred guarantee income

11,787,712

7,974,712

1,098,945

Contingent risk assurance liabilities 

31,190,425

20,979,625

2,891,070

Income tax payable

311,130,341

314,258,152

43,305,931

Short-term lease liabilities

7,912,420

7,639,264

1,052,719

Total current liabilities

1,834,905,970

3,141,235,461

432,873,821

Non-current liabilities:

Deferred tax liability

10,724,133

10,724,133

1,477,825

Long-term operating lease liabilities

37,044,466

35,769,502

4,929,169

Other non-current liabilities

19,118

18,131

2,499

Total non-current liabilities

47,787,717

46,511,766

6,409,493

Total liabilities

1,882,693,687

3,187,747,227

439,283,314

Shareholders’ equity

Ordinary shares

199,087

199,087

27,434

Treasury shares

(756,517,941)

(754,199,105)

(103,931,416)

Additional paid-in capital

4,725,877,432

4,749,907,787

654,554,796

Accumulated other comprehensive income

152,882,024

114,572,087

15,788,456

Accumulated deficit

(35,810,730)

(243,166,253)

(33,509,206)

Total Cango Inc.’s equity

4,086,629,872

3,867,313,603

532,930,064

Total shareholders’ equity

4,086,629,872

3,867,313,603

532,930,064

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

5,969,323,559

7,055,060,830

972,213,378

 

 

CANGO INC.
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME (LOSS)
(Amounts in Renminbi (“RMB”) and US dollar (“US$”), except for number of shares and per share data)

 Three months ended March 31 

2024

2025

 (Unaudited) 

 (Unaudited) 

 (Unaudited) 

 RMB 

 RMB 

 US$ 

Revenues

64,422,494

1,053,883,166

145,228,984

Bitcoin mining income

1,046,266,997

144,179,448

Loan facilitation income and other related income 

13,821,022

(829,251)

(114,274)

Guarantee income 

30,259,581

4,043,650

557,230

Leasing income

4,939,712

2,088,483

287,801

After-market services income 

11,637,788

776,803

107,046

Automobile trading income

3,445,040

70,796

9,756

Others

319,351

1,465,688

201,977

Operating cost and expenses:

Cost of revenue

29,058,868

955,091,082

131,615,070

Sales and marketing

3,548,273

415,981

57,324

General and administrative

37,923,531

92,536,718

12,751,901

Research and development

1,098,105

324,991

44,785

Net gain on contingent risk assurance liabilities

(15,018,246)

(5,269,261)

(726,124)

Net recovery on provision for credit losses

(66,339,084)

(28,702,162)

(3,955,264)

Loss from change in fair value of receivable for bitcoin collateral

194,957,999

26,865,931

Total operation cost and expense

(9,728,553)

1,209,355,348

166,653,623

(Loss) income from operations

74,151,047

(155,472,182)

(21,424,639)

Interest income

16,503,965

2,152,469

296,618

Net investment income

10,984,524

Interest expense

(9,517,781)

(1,311,585)

Foreign exchange gain (loss), net

131,689

(818,002)

(112,724)

Other income

832,551

13,609,872

1,875,491

Other expenses

(535,390)

(54,180,931)

(7,466,332)

Net income (loss) before income taxes

102,068,386

(204,226,555)

(28,143,171)

Income tax expense

(12,041,600)

(3,128,968)

(431,183)

Net income (loss)

90,026,786

(207,355,523)

(28,574,354)

Net income (loss) attributable to Cango Inc.’s shareholders

90,026,786

(207,355,523)

(28,574,354)

Earnings (losses) per ADS attributable to ordinary shareholders:

Basic

0.85

(2.00)

(0.28)

Diluted

0.80

(2.00)

(0.28)

Weighted average ADS used to compute earnings per ADS attributable to
ordinary shareholders:

Basic

105,521,018

103,783,087

103,783,087

Diluted

112,786,810

103,783,087

103,783,087

Other comprehensive income (loss), net of tax

Foreign currency translation adjustment

20,894,928

(38,309,937)

(5,279,250)

Total comprehensive income (loss)

110,921,714

(245,665,460)

(33,853,604)

Total comprehensive income (loss) attributable to Cango Inc.’s shareholders

110,921,714

(245,665,460)

(33,853,604)

 

 

CANGO INC.
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
(Amounts in Renminbi (“RMB”) and US dollar (“US$”), except for number of shares and per share data

 Three months ended March 31 

2024

2025

 (Unaudited) 

 (Unaudited) 

 (Unaudited) 

 RMB 

 RMB 

 US$ 

Net (loss) income

90,026,786

(207,355,523)

(28,574,354)

Add: Interest expense

9,517,781

1,311,585

Add: Income tax expenses

12,041,600

3,128,968

431,183

Add: Depreciation and amortization

927,576

155,503,915

21,429,012

Cost of revenue

154,944,205

21,351,882

General and administrative

879,591

559,710

77,130

Research and development

47,985

Add: Other expenses

535,390

54,180,931

7,466,332

Less: Other income

832,551

13,609,872

1,875,491

Add: Share-based compensation expenses

5,717,422

26,187,822

3,608,778

Cost of revenue

254,391

58,766

8,098

Sales and marketing

1,046,659

339,524

46,788

General and administrative

4,416,372

25,783,442

3,553,053

Research and development

6,090

839

Non-GAAP adjusted EBITDA

108,416,223

27,554,022

3,797,045

Non-GAAP adjusted EBITDA attributable to Cango Inc.’s shareholders

108,416,223

27,554,022

3,797,045

 

 

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SOURCE Cango Inc.

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Technology

BOE continues to launch new products and solutions in the field of high-end displays

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LOS ANGELES, May 9, 2026 /PRNewswire/ — 

1、Redefine Visual Experience with Scientific Standards! BOE Releases Core Research Findings on OLED Display Clarity-Legibility Index, Paving the Way for the Industry’s First Transparent Pro Standard to Deliver Supreme Visual Experience

With the rapid popularization of OLED display technology, basic screen indicators including resolution, color gamut and brightness keep improving. Meanwhile, display transparency — a core experience metric that determines visual comfort , image authenticity and premium visual quality — has drawn growing attention across the industry.

Recently, BOE has empowered the launch of the industry’s first flagship high-transparency OLED display panel, setting an industry-leading benchmark in four key dimensions: color, depth , clarity and dynamic range. It ushers high-end display into a new era, shifting from purely numerical technical specifications to ultimate user-centric visual experience.

In addition, BOE officially unveiled its in-depth research achievements on OLED display transparency. It has identified the core underlying factors affecting visual transparency through scientific research, pioneered the industry’s first display transparency index formula, and facilitated the release of the first authoritative evaluation standard for OLED display transparency. This marks an industry’s transformation from specs-oriented to experience-driven development. This marks a full-process breakthrough covering underlying technical analysis, scientifically guided image quality development and mass production application.

At present, the group standard 《Standard of Associations Organic light emitting diode display —Evaluation method for display clarity》, led and formulated by BOE based on relevant research outcomes, has been officially issued. As the world’s first dedicated evaluation standard focusing on OLED display transparency, it fills the long-standing industry gap in correlating subjective visual perception with objective image quality parameters.

Leveraging this standard and transparency research results, BOE has assisted partners in developing the industry’s first flagship high-transparency OLED screen. The company has built a comprehensive technical system for OLED visual transparency. Supported by cutting-edge technologies such as tandem, LTPO and high-precision Demura crosstalk optimization algorithms, BOE and its partners have carried out full-link optimization from display panels to end devices.

Going forward, BOE will continue to deepen research on display human factors engineering and visual experience. Through technological innovation and standard leadership, it will bring more ultimate, high-transparency premium display experiences to users worldwide.

2、BOE Beneficial “Natural” Light Technology (BNL): Solving Visual Health Pain Points and Leading the Display Industry Trend

In an era of ubiquitous displays, users are spending increasingly longer hours on screens. Nevertheless, the luminous properties of conventional displays poorly align with the human visual system, sparking widespread consumer concerns over visual health. To address such challenges, BOE draws inspiration from natural light. By deeply analyzing natural light and extracting beneficial features highly consistent with health and comfort, BOE established the Beneficial “Natural” Light Technology (BNL) architecture. Evolving from single technical upgrades to a systematic solution, BNL replicates the merits of natural light across four core dimensions: Depolarization Adjustment, Spectrum Optimization, Light Profile Optimization and Time-varying Adaptation, advancing display technology toward healthy viewing.

BNL & Visual Health

Depolarization Adjustment: The linearly polarized light of traditional displays causes targeted stimulation to retinal lutein, resulting in dry eyes, eyelid redness and other discomforts. Based on the mainstream Circular Polarization (QWP) solution, BOE BNL has developed a series of technologies like BSF/RDF Random Depolarization technology and un-Polarization,which convert linearly polarized light into randomly polarized light, enabling balanced lutein utilization across the entire visual field, and deliver natural-light-level eye protection.

Spectrum Optimization: Conventional narrow-band RGB spectra feature poor continuity and imbalanced energy distribution, with excessive high-energy blue light that induces eye strain and increases risks of macular damage. Beyond Low Blue Light solutions, BOE BNL has developed Natural-like Spectrum, Beneficial Red Light, Infrared Light and Circadian Rhythm technologies. Multiple clinical studies have verified that Beneficial Red Light and Infrared Light can effectively inhibit axial elongation and accelerate eye microcirculation.  BOE takes the lead in integrating such optics into displays,achieving a spectral distribution matching degree of over 60%, an energy ratio of Beneficial Red Light (650–670 nm) exceeding 50%, and independent on/off switching and energy adjustment of Infrared Light. Meanwhile, Circadian Rhythm technology regulates melatonin secretion to safeguard sleep quality. Shifting from passive harm reduction to active eye benefits, BOE BNL delivers all-round visual health protection.

Light Profile Optimization: Conventional screens are prone to surface reflection and glare, which interfere with visual recognition and cause cumulative eye fatigue. Powered by industry-leading Anti-Glare, Low Reflection and Wide Viewing Angle technologies, BOE BNL accurately simulates the diffuse reflection of natural light to deliver consistent visual comfort across diverse viewing angles. For instance, BOE UB Cell technology achieves a DGR value below 5 with negligible glare and reflection, ensuring sustained visual comfort.

Time-varying Adaptation: Conventional displays tend to produce low-frequency flicker and fixed brightness and color temperature that fail to adapt to ambient changes, forcing frequent eye muscle adjustments and leading to discomfort. By adopting Flicker Free and Light Self-adaptive technologies, BOE BNL delivers stable, ultra-smooth visuals that replicate the comfort of natural light.

SID 2026: BOE Launches New BNL Display Products

At SID Display Week 2026, BOE launched new BNL health display products. The highlight product is the industry’s first 13.8-inch BNL health display tablet. It integrates all four core dimensions,supported by 7 core BNL technologies, to deliver a healthy and comfortable visual experience.

As a global leader in the display industry, BOE has led the development and officially issued the world’s first “Natural Light” display standard via the Zhongguancun Standardization Association,and has jointly issued the White Paper on Natural Light Display Technologies (Engineering Considerations, Application Value and Challenges) with TÜV Rheinland to drive standardized and high-quality industrial development. In the future, BOE will continue to iterate on technologies, diversify product forms and application scenarios, advance the grading standards for Beneficial “Natural” Light displays, and protect users’ visual health.

View original content to download multimedia:https://www.prnewswire.com/news-releases/boe-continues-to-launch-new-products-and-solutions-in-the-field-of-high-end-displays-302767491.html

SOURCE BOE Technology Group Co., Ltd.

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BitradeX BXC First Two Subscription Rounds Sell Out, Total Subscriptions Exceed 14M USDT

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LONDON, May 9, 2026 /PRNewswire/ — BitradeX Capital’s ecosystem equity token, BXC, has completed its first and second subscription rounds, selling a total of 50 million BXC with subscriptions exceeding 14 million USDT. The first round sold out in 90 seconds, while the second closed within 48 hours.

While the fundraising size is not unusually large by crypto standards, the structure of the sale has attracted market attention. The first two rounds were not open to the public, but limited to high-tier BitradeX users. The first round was available only to V5 users and above, while the second round expanded access to V3 users and above.

According to BitradeX’s tier system, V3+ users typically have higher recurring investment activity through AiBot, longer platform usage history, and stronger ecosystem participation. This means the early BXC allocation was absorbed mainly by the platform’s internal high-value user base, rather than short-term speculative participants.

This approach differs from many token fundraising campaigns that prioritize broad public participation and market hype. BitradeX instead adopted a more selective, staged model, gradually lowering the participation threshold while keeping the sale within its active ecosystem community.

BXC is positioned as more than a standard platform token. Its value framework is linked to BitradeX Capital’s broader ecosystem, including its exchange business, AiBot quantitative strategies, BTX Card payments, and Labs incubation platform. Public information indicates that BXC holders may receive staking rewards, benefit from ecosystem buybacks and burns, and gain priority access to Launchpad projects and governance participation.

The third subscription round is launched on April 30 at $0.35 USDT per BXC, with a total supply of 100 million BXC. It is now open to users participating in AiBot recurring investment. The fourth round price is expected to rise to $0.45 USDT.

The long-term value of BXC will ultimately depend on the growth of BitradeX’s underlying businesses, including exchange profitability, AiBot user expansion, and BTX Card adoption. However, the rapid sellout of the first two rounds suggests that BitradeX’s core user base has already shown strong confidence in the ecosystem’s future.

View original content:https://www.prnewswire.com/news-releases/bitradex-bxc-first-two-subscription-rounds-sell-out-total-subscriptions-exceed-14m-usdt-302767467.html

SOURCE BitradeX Capital

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South and East Asia identified as hotspots of global warming related impacts on male fertility

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BEIJING, May 9, 2026 /PRNewswire/ — A major new study has shown that South and East Asia dominate patterns of global warming related decline in male fertility with the strongest and most consistent evidence coming from India, Pakistan and the southern parts of China.

The effects of increased environmental temperatures on male reproductive health include declining sperm concentration and motility and increased sperm DNA fragmentation, or genetic damage that can hinder fertilisation and embryo development.

Male related factors account for around 50 per cent of infertility cases around the world and the impact of rising ambient heat on semen parameters raises serious implications across wide areas of Asia where total fertility rates are in serious decline.

Outcomes of the study undertaken by the Taiwan IVF Group and Ton Yen General Hospital, Taiwan (China) in collaboration with Stanford University (USA) are being presented at the 2026 Congress of the Asia Pacific Initiative on Reproduction (ASPIRE) in Beijing.

Research principal and Adjunct Clinical Assistant Professor at Stanford University, Dr Jack Yu Jen Huang, MD, PhD, FACOG said: “Given the temperature sensitivity of spermatogenesis, even modest increases in ambient temperature could have cumulative, population-level effects over time.

“As global warming accelerates, male reproductive health may represent an emerging climate sensitive public health concern.”

The testes function optimally at temperatures lower than the internal body heat level, and previous studies have shown elevated scrotal or ambient temperatures can impair sperm production.

The latest research explored global patterns to reveal comparative data across regions. It is based on a systematic review of international studies on temperature exposure and semen parameter trends between 2000 and 2024. Artificial intelligence algorithms and machine learning tools were applied to extract key variables including geographic regions and semen outcomes.

Dr Huang said studies examining occupational heat exposure alone were excluded from the analysis as they reflected localised, job-specific conditions rather than broader climatic trends.

“Our findings therefore represent population level climate associated temperature effects including consistent seasonal variations showing poor semen quality parameters in warmer periods.”

The global patterns on temperature associated lower sperm concentration and motility show South and East Asia as major hot spots of concern followed by the Middle East, Europe and North America.

“South and East Asia are likely more affected due to a combination of factors including higher baseline ambient temperatures and rapid urbanisation that contribute to greater cumulative heat stress on spermatogenesis,” Dr Huang explained.

“With ongoing global warming, chronic heat exposure may increasingly impact male reproductive health.”

Dr Huang said potential approaches to address the issue include:

increasing public awareness of heat exposure and reproductive health;encouraging protective behaviours;expanding research integrating climate and reproductive health data; andexploring clinical and lifestyle interventions to mitigate heat-related effects.

The research team was assisted by research intern Jeffrey Zi Kang Huang from Taipei American School, particularly in the application of artificial intelligence in biomedical research including AI-assisted data analysis and pattern recognition across global datasets.

“Further longitudinal and mechanistic studies will be important to better define causality and guide interventions,” he added.

The ASPIRE Congress is being held at the China National Convention Centre in Beijing. More than 3,000 scientists, clinicians, nurses and counsellors in assisted reproduction from around the world are attending the Congress.

For further information, go to https://www.aspire2026.com

 

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SOURCE ASPIRE

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