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TCL Electronics (01070.HK) Achieves 13% YoY Growth in Global TV Shipment in Q2 2024

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Overseas Shipment of 75-inch and above TCL TV Surges 78% YoY in First Half of the Year

HONG KONG, July 22, 2024 /PRNewswire/ — TCL Electronics Holdings Limited (“TCL Electronics” or the “Company”, 01070.HK) today announced its global shipment data for the first half of 2024. Benefiting from the Company’s proactive global market expansion and effective enhancement of brand influence, shipment of TCL TV achieved a notable 12.9% year-on-year (“YoY”) increase in the second quarter of 2024, reaching 6.68 million sets with a 14.3% quarter-on-quarter growth. In the first half of 2024, shipment of TCL TV reached 12.52 million sets, representing a 9.2% YoY increase.

The Company’s large-screen and high-end products continued to gain traction among global consumers. The global shipment of TCL TV of 65-inch and above rose by 14.5% YoY, with its corresponding proportion increasing to 23.6%; global shipment of TCL TV of 75-inch and above saw a substantial 34.5% YoY increase, with its shipment proportion reaching 11.8%. The overall average TV size also increased by 1.8 inches YoY, from 49.9 inches to 51.7 inches. The shipment of TCL Electronics’ mid-to-high-end quantum dot (“QLED”) and Mini LED TVs experienced significant growth, with global shipments increasing by 64.4% and 122.4% YoY, respectively. Shipment of Mini LED TV, in particular, maintained a global leading position.

Product Structure Optimisation and Targeted Marketing Investment Drive Leading Market Share Worldwide

TCL Electronics’ exceptional performance in overseas markets during the first half of 2024 is noteworthy. Shipment of TCL TV in the international markets grew by 10.4% YoY, with a significant 77.9% YoY increase in the TV shipment of 75-inch and above, further optimising the product mix. Through cooperation with important sports tournaments such as the Copa América, the Company invested precisely in brand marketing, and expanded the coverage in key channels in regions such as North America, Europe and Emerging Markets1. As a result, TCL TV ranked in the top five in 30 countries worldwide2, and the TCL brand was recognised in the prestigious “Google x Kantar BrandZ Top 50 Chinese Global Brand Builders” for the eighth consecutive year.

As a pioneer in Mini LED display technology, TCL Electronics leveraged its well-established global channels to swiftly roll out its cutting-edge Mini LED TV products. The launch of 115-inch QD-Mini LED TV in North America, Europe, the Middle East, Africa and Asia Pacific garnered widespread attention. In the first half of 2024, shipment of TCL Mini LED TV in overseas markets saw a remarkable 124.7% increase YoY.

In terms of regional performance, shipment of TCL TV in Europe and emerging markets maintained an upward trajectory in the first half of 2024. TCL Electronics’ ongoing efforts to expand channels in key countries yielded positive results. In the European market, shipment of TCL-branded TV increased by 40.1%, securing second place in retail sales volume market share in France, Sweden, and Poland, and third place in the Czech Republic and Spain3. In Emerging Markets, the Company’s proactive approach to introducing competitive new products in certain regions and strengthening brand marketing paid off. Shipment in Latin America and the Middle East and Africa increased by 11.6% and 25.4% YoY, respectively. The retail sales volume market share in the Philippines, Australia, Myanmar, and Pakistan remained at the top of the industry3. In North America, the Company continued to promote its mid-to-high-end strategy and actively adjusted its channel and product mix. Shipment of TCL TV of 75-inch and above rose by 46.9% YoY, with its corresponding proportion increasing by 2.8 percentage points YoY to 8.4%, as overall shipment remained stable. Also, market share of TCL TV in terms of retail sales volume in the U.S. increased by 0.1 percentage point, solidifying its position as the second-largest player in the market4.

Adherence to Brand-Leading Strategy, Continued Promotion of “TCL+Falcon” Dual Brand Strategy

Despite the persistent decline in domestic demand, which led to a 10.7%5 YoY decrease of TV retail sales volume in the PRC market in the first half of 2024, TCL Electronics demonstrated resilience. By seizing policy opportunities such as “trade-ins of consumer goods” and leveraging the strength of its “TCL + Falcon” dual brand strategy, coupled with the approach of upward market expansion and targeting younger demographics, the Company achieved a 5.4% YoY increase in shipment in the PRC market. Notably, the YoY growth rate of Falcon-branded TV reached an impressive 66.4%. According to CMM omni-channel sales data5, the retail sales volume market share of TCL TV (TCL + Falcon) in the PRC market increased by 2.3 percentage points YoY to 20.0% in the first half of 2024, securing the second position. Meanwhile, the retail sales volume of TCL Mini LED TV in the PRC market remained top 1 in the first half of 2024.

While steadfastly executing the “TCL + Falcon” dual brand strategy, the Company also actively adjusted its product structure to further penetrate the mid-to-high-end market. In the first half of 2024, TCL TV shipment of 65-inch and above and 75-inch and above in the PRC market increased by 6.7% and 17.7% YoY with their corresponding proportion increasing by 0.6 percentage points and 3.5 percentage points to 51.5% and 33.2% respectively.

Looking ahead, TCL Electronics remains committed to its development strategy of “Lead with Brand Value, Excel in Global Efficiency, Drive with Technology, Thrive on Global Vitality”. By actively implementing the all-category layout of “Intelligent IoT Ecosystem”, the Company aims to provide consumers with a more comfortable life experience and strives to become a world-leading smart device enterprise.

Shipment Data for the First Half of 2024 (unaudited)

Unit: Set

Large-sized display – Shipment of TCL TVs

12,515,740

– Proportion of TCL TV of 65 inches and above by shipment

23.6 %

– Proportion of TCL TV of 75 inches and above by shipment

11.8 %

About TCL Electronics
TCL Electronics Holdings Limited (01070.HK, incorporated in the Cayman Islands with limited liability) was listed on the mainboard of the Hong Kong Stock Exchange in November 1999. It is engaged in display business, innovative business and internet business. TCL Electronics actively transforms and innovates under the strategy of “Lead with Brand Value, Excel in Global Efficiency, Drive with Technology, Thrive on Global Vitality”. Focusing on the mid-to-high-end markets around the world, the Company strives to consolidate the “Intelligent IoT Ecosystem” strategy and is committed to providing users with an all-scenario smart and healthy life while developing into a world-leading smart technology company. TCL Electronics is part of the Shenzhen-Hong Kong Stock Connect program and is included in the Hang Seng Stock Connect Hong Kong Index, the Hang Seng Composite MidCap & SmallCap Index and the Hang Seng Corporate Sustainability Benchmark Index. Besides, it has received Hang Seng Index’s ESG rating of A for consecutive years since 2018.

For more information, please visit the investor relations web page of TCL Electronics at   http://electronics.tcl.com or follow the WeChat Official Page of TCL Electronics investor relations.

1

Emerging markets includes countries in Asia Pacific, Latin America, the Middle East, Africa.

2

Data source: GfK, Circana, with the statistical period spanning from January to May 2024.

3

Data source: GfK, with the statistical period spanning from January to May 2024.

4

Data Source: Circana, with the statistical period spanning from January to May 2024.

5

Data source: CMM omni-channel sales data, with the statistical period spanning from January to June 2024.

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SOURCE TCL Electronics Holdings Limited

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Global AI Leader and Enterprise Transformation Visionary Zeya Ottomone Appointed Chief Executive Officer of Integrow

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Author of Empowered to Execute in the Agentic Era to Lead Next Generation of AI-Powered Enterprise Innovation

ATLANTA, July 24, 2026 /PRNewswire-PRWeb/ — Integrow announced the appointment of Zeya Ottomone as Chief Executive Officer, marking a significant milestone in the company’s evolution as it accelerates its vision to become a global leader in Agentic AI-powered enterprise software and business transformation.

Integrow announced the appointment of Zeya Ottomone as Chief Executive Officer, marking a significant milestone in the company’s evolution as it accelerates its vision to become a global leader in Agentic AI-powered enterprise software and business transformation.

With more than three decades of executive leadership spanning Fortune 500 enterprises, global technology organizations, and enterprise software innovation, Ottomone joins Integrow at a defining moment in the evolution of artificial intelligence.

Widely recognized for helping organizations modernize operations, simplify complex business ecosystems, and deliver measurable transformation outcomes, Ottomone has led some of the industry’s largest enterprise modernization initiatives across ERP, CRM, workforce management, cloud computing, cybersecurity, artificial intelligence, and intelligent automation. His appointment signals Integrow’s commitment to redefining how enterprises execute strategy in the era of autonomous AI.

“Artificial Intelligence is no longer about automation alone, it’s about empowering organizations to execute faster, make smarter decisions, and fundamentally rethink how work gets done,” said Zeya Ottomone, Chief Executive Officer of Integrow. “We’re entering the Agentic Era, where intelligent AI agents become trusted digital teammates capable of planning, reasoning, collaborating and executing alongside people. At Integrow, we’re building the enterprise platform that makes that future practical, secure and measurable for every organization.”

Ottomone is internationally recognized as a leader in enterprise technology, SaaS transformation, digital modernization and AI-enabled business strategy. Throughout his career he has held executive leadership and C-level positions with ABB, Honeywell, AmerisourceBergen, Cable & Wireless, Chicago Tribune and Rimini Street, leading global organizations through large-scale transformation initiatives across North America, Europe, Asia-Pacific and the Middle East. His expertise spans enterprise applications, Salesforce ecosystems, ServiceNow, ERP modernization, customer experience, intelligent operations, data strategy, and the emerging field of Agentic AI.

Before joining Integrow, Ottomone led global SaaS Centers of Excellence focused on enterprise transformation, helping organizations modernize critical business operations while reducing technology complexity and accelerating innovation. A certified Lean Six Sigma Master Black Belt and recognized executive advisor, Ottomone has consistently delivered operational excellence by combining strategic leadership with emerging technologies to create sustainable business value.

His appointment also coincides with the upcoming publication of his new book, Empowered to Execute in the Agentic Era, which explores how organizations can bridge the gap between strategy and execution by leveraging AI, empowering people, and building intelligent enterprises capable of continuous innovation. The book reflects many of the same principles that will guide Integrow’s next phase of growth: human-centered AI, intelligent automation, operational excellence, and measurable business outcomes.

Under Ottomone’s leadership, Integrow will accelerate investment across:

Agentic AIEnterprise AI PlatformsIntelligent ERPAI-powered CRMHuman Capital ManagementIT Service ManagementPredictive AnalyticsAutonomous WorkflowsEnterprise CopilotsIndustry-specific AI Solutions

The company’s vision is to deliver a unified enterprise platform where AI is embedded into every business process, enabling organizations to eliminate operational silos, automate decision-making, increase productivity, and create competitive advantage through intelligent execution. “Zeya represents exactly the type of visionary leader required for the next generation of enterprise software,” said Harvey Nicholson, Chair of Corporate Governance and Member of Integrow’s Board of Directors. “His global experience, deep understanding of enterprise technology, and forward-looking vision for Agentic AI position Integrow to become one of the industry’s most innovative AI-powered enterprise software companies.”

Wayne Gadson, Chair of Growth Strategy, added: “The future belongs to organizations that can execute strategy with intelligence, speed and confidence. Zeya has spent his career helping enterprises achieve exactly that. His appointment marks the beginning of an exciting new chapter for Integrow, our customers and our partners worldwide.” As enterprises face mounting pressure to modernize operations, reduce costs, improve workforce productivity and harness the power of artificial intelligence, Integrow is uniquely positioned to help organizations transform through a single AI-powered enterprise platform that unifies finance, operations, customer engagement, workforce management, projects and service delivery.

“Our mission is simple,” Ottomone concluded. “We don’t believe AI should replace people. We believe AI should elevate people. The organizations that will define the next decade won’t simply adopt AI—they’ll empower every employee to execute better decisions every day. That’s the future Integrow is building.”

About Integrow

Integrow is a global enterprise software company delivering next-generation AI-powered business applications built on Salesforce. The platform unifies ERP, CRM, Human Capital Management, IT Service Management, Project Management, Field Service, Finance and Operations into a single intelligent ecosystem enhanced by Agentic AI.

By embedding artificial intelligence into every workflow, Integrow enables organizations to modernize operations, accelerate innovation, improve decision-making and execute strategy with confidence.

For more information, visit www.integrow.com.

Media Contact

Media Team, Integrow, Inc., 1 855-333-4769, info@integrow.com, www.integrow.com 

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SOURCE Integrow, Inc.

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Lufax Announces Board and Management Changes

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SHANGHAI, July 24, 2026 /PRNewswire/ — Lufax Holding Ltd (“Lufax” or the “Company”) (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced changes to its board of directors and senior management, effective July 25, 2026.

Ms. Fangfang Cai (“Ms. Cai”), Mr. Shibang Guo (“Mr. Guo”) and Mr. Peifeng Li (“Mr. Li”) have resigned as non-executive directors of the Company and from their respective positions on the Board’s committees. Mr. Tongzhuan Xi (“Mr. Xi”) has resigned as an executive director, the chief financial officer and the authorised representative of the Company (“Authorised Representative”) under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (“Hong Kong Listing Rules”), with effect from July 25, 2026. Each of the four directors cited personal work arrangements as the reason for their resignation and confirmed there is no disagreement with the Board and no matter relating to their departure that needs to be brought to shareholders’ attention.

The Company has begun a search for a new chief financial officer. During the transition, the CFO’s duties will be temporarily assumed by the Company’s internal team to ensure continuity of the Company’s financial functions. Mr. Xiang Ji, an executive director and the Company’s chief executive officer, has been appointed as the Authorised Representative, the Company’s designated liaison with the Stock Exchange under the Hong Kong Listing Rules, in place of Mr. Xi, with effect from July 25, 2026.

The Board has appointed Mr. Wai Kin Chim (“Mr. Chim”) as an independent non-executive director for an initial three-year term commencing July 25, 2026.

Mr. Chim, aged 65, has over 40 years of experience in international banking and extensive board experience in Asia Pacific, having worked in Hong Kong, Singapore and Beijing. He specializes in risk management and internal control, with a strong emphasis on corporate governance, credit risk, market risk and capital management.

Mr. Chim served as a loan officer at Standard Chartered Bank, Hong Kong Branch, from October 1985 to August 1988. He was then employed by Bankers Trust Company, Hong Kong Branch, as a vice president of the Asia Credit Department from September 1988 to October 1996. He subsequently served as the managing director and the chief credit officer for Deutsche Bank AG, a company listed on the Frankfurt Stock Exchange under ticker symbol DBK, for Asia Pacific (non-Japan Asia), from October 1996 to November 2006. He joined Bank of China Limited, a company listed on the Main Board of the Stock Exchange under stock code 3988, as the chief credit officer from March 2007 to March 2015.

Mr. Chim was an independent non-executive director of Standard Chartered Bank (China) Limited from October 2015 to October 2017. He served as an independent non-executive director of HDR Global Trading Limited, owner and operator of the BitMEX digital asset trading platform, from February 2021 to February 2022. Mr. Chim served as a non-executive director of China Chengtong Hong Kong Company Limited from July 2022 to June 2025. Mr. Chim is currently an independent non-executive director of OCBC Bank (Hong Kong) Limited, since November 2017; an independent non-executive director of Banco OCBC (Macau), S.A., since August 2023; an independent non-executive director of China Intellogis Technology Co., Ltd., since June 2024; and a director of Hong Kong Dance Company Limited since June 2026.

Mr. Chim obtained a Bachelor of Science degree from the Chinese University of Hong Kong in 1983 and an MBA degree from Indiana State University, USA, in 1985. He also graduated from the Senior Executive Program at Columbia University in 2000.

In connection with these changes, with effect from July 25, 2026, Ms. Cai will step down from the Nomination and Remuneration Committee, and Mr. Koon Wing Ernest Ip has been appointed as a member to that committee. The Company’s Special Committee will comprise Mr. Dicky Peter Yip, Mr. Koon Wing Ernest Ip and Mr. Siu Hong Cheng, continuing under the chairmanship of Mr. Dicky Peter Yip, with effect from July 25, 2026.

The Board would like to take this opportunity to thank Ms. Cai, Mr. Guo, Mr. Li and Mr. Xi for their service during the tenure of their office and warmly welcome Mr. Chim to the Board.

About Lufax

Lufax is a leading financial services enabler for small business owners in China. The Company offers financing products designed principally to address the needs of small business owners. In doing so, the Company has established relationships with 85 financial institutions in China as funding partners, many of which have worked with the Company for over three years.

Investor Relations Contact

Lufax Holding Ltd
Email: Investor_Relations@lu.com

ICR, LLC
Robin Yang
Tel: +1 (646) 308-0546
Email: lufax.ir@icrinc.com

 

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SOURCE Lufax Holding Ltd

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UMD Smith School Researchers Warn AI Security Lapses Highlight Urgent Need for Independent Oversight

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COLLEGE PARK, Md., July 24, 2026 /PRNewswire/ — A series of recent AI security lapses—including the OpenAI–Hugging Face breach—raises a fundamental question, say a pair of researchers at the University of Maryland’s Robert H. Smith School of Business: Can tech companies safely govern the powerful AI systems they build, or is stronger outside oversight now essential?

In its incident report, OpenAI confirmed that one of its experimental AI agents exploited a weakness in its testing environment while working on a routine benchmark task. The system wasn’t instructed to behave maliciously; instead, its persistence turned a small design flaw into a real escape. Earlier tests showed similar behavior, including agents that learned to bypass security checks by manipulating authentication tokens.

This pattern echoes findings from Dean’s Professor of Information Systems Siva Viswanathan at the Smith School, who studies how large technology platforms enforce rules. His research on mobile app privacy—published in Management Science—examined Google’s rollout of Android 6.0, which gave users more control over what data apps could collect. Developers were granted a flexible window to update their apps. Many used that flexibility to delay compliance for months, continuing to gather user data until Google imposed consequences such as lower search rankings and reduced visibility in its app store.

Viswanathan’s takeaway: when companies rely on voluntary compliance, self‑interested actors often exploit the slack. Real accountability requires pairing flexibility with firm, enforceable penalties.

That lesson now reverberates across the AI sector. As companies race to build increasingly capable systems, Viswanathan says oversight must treat these AI systems as strategic actors and must include strong safeguards that can pause or reverse a system before harm occurs.

He notes that a separate study from Anthropic underscores the stakes. In controlled tests, even an AI system designed to monitor another AI inherited the same flaws it was supposed to catch. In some cases, the “judge” model failed to flag clear sabotage because it agreed with the agent’s goals, allowing dangerous behavior to pass without human review.

Balaji Padmanabhan, Dean’s Professor of Decisions, Operations and Information Technologies and director of the Smith School’s Center for Artificial Intelligence in Business, extends Viswanathan’s governance argument into the realm of autonomous AI agents, warning that the same structural weaknesses now carry far higher stakes.

“The fact that this breach occurred organically without the AI agent being asked to be malicious is itself notable. Imagine what someone who actually intends to do harm can do. It’s also not terribly reassuring that the same firms we depend on for AI infrastructure, who are facing these issues, are the ones assuring enterprises that their systems with guardrails are perfectly safe,” says Padmanabhan. “We have to wake up to the fact that we’ve created capabilities that let software become as powerful as we want it to be—and then some. It’s time we seriously ask what’s needed to create an infrastructure to play defense well.”

Across the independent studies, the pattern is consistent, says Viswanathan: Voluntary compliance fails when the governed actor is more capable than the regulator. And AI systems cannot be governed by trust or good intentions alone. Oversight must be preventive, independent and capable of stopping harmful behavior before it spreads.

About the University of Maryland’s Robert H. Smith School of Business
The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 12 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and flex MBA, executive MBA, online MBA, business master’s, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations in North America and Asia.

Contact: Greg Muraski, gmuraski@umd.edu

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SOURCE University of Maryland’s Robert H. Smith School of Business

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