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McRAE INDUSTRIES, INC. REPORTS EARNINGS FOR THE SECOND QUARTER AND FIRST SIX MONTHS OF FISCAL 2025

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MOUNT GILEAD, N.C., March 17, 2025 /PRNewswire/ —  McRae Industries, Inc. (Pink: MCRAA and MCRAB) reported consolidated net revenues for the second quarter of fiscal 2025 of $27,548,000 as compared to $25,815,000 for the second quarter of fiscal 2024.  Net earnings for the second quarter of fiscal 2025 amounted to $1,053,000, or $0.47 per diluted Class A common share as compared to $1,636,000, or $0.72 per diluted Class A common share, for the second quarter of fiscal 2024.

Consolidated net revenues for the first six months of fiscal 2025 totaled $56,250,000 as compared to $58,641,000 for the first six months of fiscal 2024.  Net earnings for the first six months of fiscal 2025 amounted to $2,899,000, or $1.28 per diluted Class A common share, as compared to net earnings of $4,858,000, or $2.15 per diluted Class A common share, for the first six months of fiscal 2024.

SECOND QUARTER FISCAL 2025 COMPARED TO SECOND QUARTER FISCAL 2024

Consolidated net revenues totaled $27.5 million for the second quarter of fiscal 2025 as compared to $25.8 million for the second quarter of fiscal 2024.  Sales related to our western/lifestyle boot products for the second quarter of fiscal 2025 totaled $20.4 million as compared to $18.2 million for the second quarter of fiscal 2024.  This increase in net revenues was spread across several western product lines, namely the Dan Post and Laredo brands.  Revenues from our work boot products decreased from $7.8 million for the second quarter of fiscal 2024 to $7.5 million for the second quarter of fiscal 2025.  This was primarily a result of decreased sales for our Dan Post work boots.

Consolidated gross profit for the second quarter of fiscal 2025 amounted to approximately $7.1 million as compared to $7.0 million for the second quarter of fiscal 2024.  However, gross profit as a percentage of net revenues was down from 27.1% for the second quarter of fiscal 2024 to 25.9% for the second quarter of fiscal 2025.  This is primarily because of decreased margins on military boot sales due to inefficiencies in the manufacturing facility in the second quarter.

Consolidated selling, general and administrative expenses totaled approximately $6.4 million for the second quarter of fiscal 2025 as compared to $5.6 million for the second quarter of fiscal 2024.  This increase resulted primarily from increased sales commissions and marketing expenses.

As a result of the above, the consolidated operating profit for the second quarter of fiscal 2025 amounted to $0.7 million as compared to $1.4 million for the second quarter of fiscal 2024.

FIRST SIX MONTHS FISCAL 2025 COMPARED TO FIRST SIX MONTHS FISCAL 2024

Consolidated net revenues for the first six months of fiscal 2025 totaled $56.3 million as compared to $58.6 million for the first six months of fiscal 2024.  Our western and lifestyle product sales totaled $41.4 million for the first six months of fiscal 2025 as compared to $40.2 million for the first six months of fiscal 2024.  This increase was a result of increased sales in the Dan Post and Dingo brands, offset by decreased sales in the Laredo and El Dorado brands.  Net revenues from our work boot business decreased from $17.2 million for the first six months of fiscal 2024 to $15.5 million for the first six months of fiscal 2025.  This decrease was spread across all work boot product lines.

Consolidated gross profit totaled $15.5 million, or 27.5%, for the first six months of fiscal 2025 as compared to $16.9 million, or 28.8%, for the first six months of fiscal 2024.  This is primarily due to the fact that the 2024 gross profit was positively affected by the sale of real estate held for investment.

Consolidated selling, general and administrative expenses totaled approximately $12.9 million for the first six months of fiscal 2025 as compared to $11.6 million for the first six months of fiscal 2024.  This increase resulted primarily from increased sales commissions and marketing expenses.

As a result of the above, the consolidated operating profit amounted to $2.6 million for the first six months of fiscal 2025 as compared to $5.3 million for the first six months of fiscal 2024.

Financial Condition and Liquidity

Our financial condition remained strong at February 1, 2025 as cash and cash equivalents totaled $22.8 million as compared to $20.7 million at August 3, 2024.  Our working capital increased from $75.0 million at August 3, 2024 to $79.6 million at February 1, 2025.

We currently have two lines of credit totaling $6.75 million, all of which was fully available at February 1, 2025.  One credit line totaling $1.75 million (which is restricted to one hundred percent of the outstanding receivables due from the Government) expires in January 2026.  Our $5.0 million line of credit, which also expires in January 2026, is secured by the inventory and accounts receivable of our Dan Post Boot Company subsidiary.

For the first six months of fiscal 2025, operating activities used approximately $0.6 million of cash.  Net earnings contributed approximately $2.9 million of cash.  Adjustments to reconcile net earnings to net cash used in operating activities totaled approximately $3.5 million.  These adjustments were driven significantly by increased inventory and offset by decreased accounts receivable.

Net cash provided by investing activities totaled approximately $4.9 million, primarily due to the purchase and sale of securities.

Net cash used in financing activities totaled $2.2 million, which was used primarily for dividend payments.

We believe that our current cash and cash equivalents, cash generated from operations, and available credit lines will be sufficient to meet our capital requirements for the remainder of fiscal 2025.

Forward-Looking Statements

This press release includes certain forward-looking statements.  Important factors that could cause actual results or events to differ materially from those projected, estimated, assumed or anticipated in any such forward-looking statements include: uncertainties associated with COVID-19 or coronavirus, including its possible effects on our operations, supply chain, and the demand for our products and services, our ability to complete the sale of our properties under contract for sale, the effect of competitive products and pricing, risks unique to selling goods to the Government (including variation in the Government’s requirements for our products and the Government’s ability to terminate its contracts with vendors), changes in fashion cycles and trends in the western boot business, loss of key customers, acquisitions, supply interruptions, additional financing requirements, our expectations about future Government orders for military boots, loss of key management personnel, our ability to successfully develop new products and services, and the effect of general economic conditions in our markets.

McRae Industries, Inc. and Subsidiaries

CONSOLIDATED BALANCE SHEETS

(In thousands, except share data)

(Unaudited)

February 1,
2025

August 3,
2024

ASSETS

Current assets:

Cash and cash equivalents

$22,836

$20,723

Equity investments

8,446

8,112

Debt securities

8,174

9,232

Accounts receivable, net

16,546

20,179

Inventories, net

28,355

23,788

Income tax receivable

427

268

Prepaid expenses and other current assets

1,378

226

Total current assets

86,162

82,528

Property and equipment, net

5,054

5,171

Other assets:

Deposits

14

14

Right to Use Asset

1,865

2,137

Real estate held for investment

2,793

2,793

Debt securities

7,293

11,075

Trademarks

2,824

2,824

Total other assets

14,789

18,843

Total assets

$106,005

$106,542

 

McRae Industries, Inc. and Subsidiaries

CONSOLIDATED BALANCE SHEETS

(In thousands, except share data)

(Unaudited)

February 1,
2025

August 3,
2024

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Accounts payable

$3,717

$3,692

Accrued employee benefits

527

1,399

Accrued payroll and payroll taxes

694

866

Lease liability

548

548

Income tax payable

Other

1,043

976

Total current liabilities

6,529

7,481

Lease liability

1,317

1,589

Deferred tax liabilities

407

407

Total liabilities

8,253

9,477

Shareholders’ equity:

Common Stock:

Class A, $1 par value; authorized 5,000,000 shares
   issued and outstanding, 1,896,334 and 1,896,334
   shares, respectively

1,896

1,896

Class B, $1 par value; authorized 2,500,000 shares;
   issued and outstanding, 363,826 and 363,826 shares,
   respectively

364

364

Retained earnings

95,492

94,805

Total shareholders’ equity

97,752

97,065

Total liabilities and shareholders’ equity

$106,005

$106,542

 

McRae Industries, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except share data)

(Unaudited)

Three Months Ended

Six Months Ended

February 1,

January 27,

February 1,

January 27,

2025

2024

2025

2024

Net revenues

$27,548

$25,815

$56,250

$58,641

Cost of revenues

20,417

18,816

40,782

41,733

Gross profit

7,131

6,999

15,468

16,908

Selling, general and administrative expenses

6,382

5,580

12,911

11,583

Operating profit

749

1,419

2,557

5,325

Other income

734

852

1,462

916

Earnings before income taxes

1,483

2,271

4,019

6,241

Provision for income taxes

430

635

1,120

1,383

Net earnings

$1,053

$1,636

$2,899

$4,858

Earnings per common share:

     Diluted earnings per share:

        Class A

0.47

0.72

1.28

2.15

        Class B

NA

NA

NA

NA

Weighted average number of common shares outstanding:

       Class A

1,896,334

1,896,334

1,896,334

1,896,277

       Class B

363,826

363,826

363,826

363,883

        Total

2,260,160

2,260,160

2,260,160

2,260,160

 

McRae Industries, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

(In thousands, except share data)

(Unaudited)

Common Stock, $1 par value

Accumulated Other

Class A

Class B

Comprehensive

Retained

Shares

Amount

Shares

Amount

 Income (Loss)

 Earnings

Balance, July 29, 2023

1,895,949

$1,896

364,211

$364

$0

$84,657

Conversion of Class B

385

(385)

   to Class A Stock

Cash Dividend ($0.14 per  Class A common stock)

(265)

Cash Dividend ($0.14 per Class B common stock)

(51)

Net earnings

3,222

Balance, October 28, 2023

1,896,334

$1,896

363,826

$364

$0

$87,563

Cash Dividend ($0.64 per  Class A common stock)

(1,421)

Cash Dividend ($0.64 per Class B common stock)

(272)

Net earnings

1,636

Balance, January 27, 2024

1,896,334

$1,896

363,826

$364

$0

$87,506

Common Stock, $1 par value

Accumulated Other

Class A

Class B

Comprehensive

Retained

Shares

Amount

Shares

Amount

 Income (Loss)

 Earnings

Balance, August 3, 2024

1,896,334

$1,897

363,826

$363

$0

$94,805

Cash Dividend ($0.14 per  Class A common stock)

(265)

Cash Dividend ($0.14 per Class B common stock)

(51)

Net earnings

1,846

Balance, November 2, 2024

1,896,334

$1,897

363,826

$363

$0

$96,335

Cash Dividend ($0.84 per  Class A common stock)

(1,592)

Cash Dividend ($0.84 per Class B common stock)

(304)

Net earnings

1,053

Balance, February 1, 2025

1,896,334

$1,897

363,826

$363

$0

$95,492

 

McRae Industries, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

Six Months Ended

February 1,

January 27,

2025

2024

Cash Flows from Operating Activities:

Net earnings

$2,899

$4,858

Adjustments to reconcile net earnings to net cash used in operating activities

(3,472)

3,584

Net cash used in operating activities

(573)

8,442

Cash Flows from Investing Activities:

Proceeds from sale of land

50

1,985

Proceeds from sale of fixed assets

263

Capital expenditures

(275)

(143)

Purchase of securities

(1,112)

(19,011)

Proceeds from sale of securities

5,973

10,681

Net cash provided by investing activities

4,899

(6,488)

Cash Flows from Financing Activities:

Dividends paid

(2,213)

(2,009)

Net cash used in financing activities

(2,213)

(2,009)

Net (Decrease) Increase in Cash and Cash equivalents

2,113

(55)

Cash and Cash Equivalents at Beginning of Year

20,723

18,329

Cash and Cash Equivalents at End of Period

$22,836

$18,274

 

View original content:https://www.prnewswire.com/news-releases/mcrae-industries-inc-reports-earnings-for-the-second-quarter-and-first-six-months-of-fiscal-2025-302403307.html

SOURCE McRae Industries, Inc.

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Hyundai Motor Group Executive Chair Euisun Chung Announces Physical AI Vision at San Francisco AI Summit

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Hyundai Motor Group shares roadmap for realizing its Physical AI vision and collaboration strategy with global tech leaders at the San Francisco AI Summit
Executive Chair Euisun Chung presented, “Hyundai Motor Group is evolving beyond the traditional boundaries of automotive manufacturing to become a Physical AI solution company,” adding, “The ultimate Physical AI vision we pursue is the realization of integrated intelligence at the city level”
The Group to leverage manufacturing competitiveness and leading robotics capabilities centered on Boston Dynamics, while establishing a data flywheel system connecting real-world operational data with continuous AI model advancement
The Group to leverage strategic partnerships with global technology leaders, including NVIDIA and Waymo, as well as Boston Dynamics’ strategic partnership with Google DeepMind
The Group to collaborate with NVIDIA to develop a Robot Reference Platform that combines Hyundai Motor Group’s and NVIDIA’s Physical AI capabilities

… The initiative to support Korea’s Physical AI industry through an open ecosystem

The Group to cultivate strategic domestic hubs through investments in Saemangeum AI Valley and future advanced industries in Korea’s Yeongnam region

SAN FRANCISCO, July 25, 2026 /PRNewswire/ — Hyundai Motor Group (the Group) Executive Chair Euisun Chung today outlined the Group’s vision and strategy for Physical AI at the San Francisco AI Summit held in San Francisco, California.

The event brought together approximately 150 attendees, including Executive Chair Chung, business leaders from major Korean companies, executives from leading U.S. technology firms, startup representatives and students.

At the summit, Executive Chair Chung presented the Group’s roadmap for advancing Physical AI and outlined strategic collaboration plans with global technology leaders.

“Hyundai Motor Group is evolving beyond the traditional boundaries of automotive manufacturing by expanding into autonomous driving, robotics and AI Defined Factories, accelerating our transformation into a Physical AI solution company.” — Hyundai Motor Group Executive Chair Euisun Chung

Accelerating the Transition to a Physical AI Solution Company

Hyundai Motor Group’s Physical AI vision extends beyond intelligent devices such as vehicles and robots to intelligent spaces, including AI factories where AI seamlessly connects and optimizes entire operations. Ultimately, the Group envisions integrated intelligence at the city level, where urban infrastructure is organically connected and operated through AI.

A key differentiator for the Group is its ability to create a data flywheel that continuously connects real-world operations with AI advancement. Drawing on extensive experience in large-scale manufacturing, mobility, robotics and service operations, the Group is positioned to deploy, refine and scale Physical AI technologies in real industrial environments.

Executive Chair Chung also outlined strategic partnerships with leading technology companies, including NVIDIA and Waymo, as well as Boston Dynamics’ strategic partnership with Google DeepMind, to further advance Physical AI capabilities.

By combining Hyundai Motor Group’s manufacturing competitiveness, mobility and robotics technologies and extensive operational data with the AI infrastructure and algorithm capabilities of global technology leaders, the Group aims to help foster a new innovation ecosystem for the Physical AI era.

Executive Chair Chung also introduced initiatives designed to support the growth of Korea’s robotics and AI ecosystem, including the development of a Robot Reference Platform with NVIDIA that combines Hyundai Motor Group’s and NVIDIA’s Physical AI capabilities, as well as investments in initiatives such as the Saemangeum AI Valley.

Physical AI Vision: From Intelligent Devices to Integrated Intelligence at the City Level

During the summit, Executive Chair Chung presented Hyundai Motor Group’s Physical AI vision.

“The ultimate Physical AI vision Hyundai Motor Group pursues begins with intelligent devices such as vehicles and robots, expands to intelligent spaces such as AI factories, and ultimately realizes integrated intelligence at the city level, where urban infrastructure is seamlessly connected and operated.” — Hyundai Motor Group Executive Chair Chung

The Group’s vision begins with intelligent devices, where AI capabilities enhance vehicles and robots. It then expands to intelligent spaces, including AI factories where AI autonomously integrates logistics, production and quality management across entire operations.

Ultimately, Hyundai Motor Group envisions city-level intelligence, where critical infrastructure and assets — including energy, mobility and robotics systems — are connected and optimized in real time.

Executive Chair Chung also highlighted the Group’s key strengths in realizing its Physical AI vision:

World-class manufacturing competitiveness: Hyundai Motor Group has built extensive expertise through decades of operating global manufacturing facilities, managing quality systems and optimizing supply chains. This foundation enables the Group to apply AI technologies to products, processes and services while rapidly validating and scaling innovations in real-world environments.
Leading robotics capabilities: Hyundai Motor Group has established robotics as a key pillar of its future business portfolio. Boston Dynamics’ quadruped robot Spot®, logistics robot Stretch®, and Hyundai Motor Group Robotics LAB’s next-generation mobile robot platform MobED are recognized for combining technological competitiveness with real-world applicability.

In particular, the humanoid robot Atlas® is emerging as a representative example of Physical AI, supporting and collaborating with people across manufacturing, logistics and mobility environments.

Establishing a data flywheel system: Hyundai Motor Group is establishing a data flywheel system that leverages data generated across manufacturing operations, vehicles, logistics systems and robotics demonstrations to continuously advance AI models. Enhanced algorithms are then reapplied to real-world operations, creating a virtuous cycle that improves performance and strengthens Physical AI capabilities.

Accelerating the Future of Physical AI Through Partnerships with Global Tech Leaders

Executive Chair Chung also outlined concrete initiatives to position Hyundai Motor Group as a leader in human-centered Physical AI through strategic collaborations with NVIDIA and Waymo, as well as Boston Dynamics’ strategic partnership with Google DeepMind.

“By combining Hyundai Motor Group’s strengths in manufacturing, robotics and data with the capabilities of global technology leaders, we can help create a new innovation ecosystem for the Physical AI era.” — Hyundai Motor Group Executive Chair Euisun Chung

NVIDIA – Advancing Physical AI infrastructure and talent development

Hyundai Motor Group is expanding collaboration with NVIDIA to strengthen Physical AI infrastructure and cultivate AI talent. Building on a supply agreement for 50,000 NVIDIA Blackwell GPUs and a memorandum of understanding signed last year to advance Korea’s Physical AI capabilities, the Group is pursuing a range of initiatives, including the establishment of Hyundai Motor Group Robot Application Center, as well as various collaborations aimed at strengthening Korea’s Physical AI infrastructure and AI talent ecosystem, including the NVIDIA’s AI Technology Center.

In manufacturing, the Group is leveraging NVIDIA’s platform to create more sophisticated digital twins of production facilities, enhancing process design, operational optimization and validation efficiency. The collaboration also includes the integration of NVIDIA’s autonomous driving solutions, including automotive semiconductors, sensors and architecture, with Hyundai Motor Group vehicle platforms.

Waymo – Strengthening autonomous driving collaboration

Hyundai Motor Group continues to strengthen its strategic partnership with Waymo in the autonomous driving sector to support the development of a safe and innovative autonomous driving ecosystem. Autonomous driving vehicles require a wide range of specialized capabilities, including redundant systems for steering, braking, power and communications, dedicated features such as power-operated doors, as well as enhanced functional safety and cybersecurity technologies.

Hyundai Motor Group plans to produce IONIQ 5 vehicles with specific autonomous-ready modifications at Hyundai Motor Group Metaplant America (HMGMA) in Georgia.

Google DeepMind – Accelerating next-generation humanoid robotics

Boston Dynamics has established a strategic partnership with Google DeepMind to accelerate the development of next-generation humanoid robots. Advanced AI models and training systems are essential for robots to perform complex tasks in real-world environments and collaborate effectively with people. Through this partnership, Boston Dynamics robots are expected to achieve greater autonomy and adapt more effectively to complex operating environments.

Hyundai Motor Group plans to establish a robot production facility in the U.S. with an annual capacity of up to 30,000 units by 2028. The Atlas humanoid robot will first be deployed at production facilities including HMGMA before broader deployment is expanded through phased validation.

Building an Open Ecosystem Through the Robot Reference Platform and Continued Investment in Korea’s Physical AI Future

Executive Chair Chung also outlined initiatives aimed at supporting the growth of Korea’s Physical AI ecosystem through open collaboration and continued investment.

“The outcomes of collaboration with global technology leaders should contribute to the growth of Korea’s Physical AI industry. To that end, Hyundai Motor Group plans to foster an open ecosystem that supports innovation in robotics and AI technologies.” — Hyundai Motor Group Executive Chair Euisun Chung

Key initiatives to build an open ecosystem for robotics and AI innovation include:

Robot Reference Platform: Hyundai Motor Group and NVIDIA are collaborating to develop a Robot Reference Platform that combines Hyundai Motor Group’s and NVIDIA’s Physical AI capabilities.

The platform will provide research robot models to universities, research institutes and startups, helping foster an open ecosystem that supports technological innovation and the development of Physical AI talent while contributing to the broader growth of Korea’s robotics and AI industries. 

Supporting universities, research institutes and startups: The Robot Reference Platform is expected to provide universities, research institutes and startups with a standardized hardware and software environment, enabling them to more easily develop and validate Physical AI technologies. The initiative aims to help address challenges faced by organizations with innovative ideas but limited access to commercialization opportunities and validation infrastructure.

Hyundai Motor Group is also continuing large-scale investments aimed at driving the next leap forward in Korea’s industrial and technology ecosystem. Continued investments in Korea’s industrial and technology ecosystem include:

Saemangeum AI Valley: In the Saemangeum region of Jeonbuk State, the Group is developing Saemangeum AI Valley, which includes an approximate KRW 9 trillion investment in AI data centers, robotics manufacturing clusters, electrolyzer plants and AI hydrogen city infrastructure. 

In particular, the robotics manufacturing cluster will serve not only as a production base for the Group’s own robotics products, but also as a robotics foundry that provides manufacturing services for small and medium-sized enterprises that lack manufacturing expertise.

Advanced industrial hubs in the Yeongnam region: Hyundai Motor Group plans to invest a total of KRW 42 trillion over the next decade to foster advanced industrial hubs focused on AI-driven manufacturing, future aerospace industries and sustainable energy infrastructure.

Through these initiatives, Hyundai Motor Group aims to strengthen key foundations for the Physical AI era, including data and energy infrastructure, robotics production capabilities and real-world validation capabilities. The Group also expects these investments to contribute to enhanced industrial competitiveness, balanced regional development, job creation and broader economic vitality in Korea.

About Hyundai Motor Group

Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel, and construction, as well as logistics, finance, IT, and service. With about 250,000 employees worldwide, the Group’s mobility brands include Hyundai, Kia, and Genesis. Armed with creative thinking, cooperative communication, and the will to take on any challenges, we strive to create a better future for all.

More information about Hyundai Motor Group can be found at: http://www.hyundaimotorgroup.com or Newsroom: Media Hub by Hyundai, Kia Global Newsroom, Genesis Newsroom

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SOURCE Hyundai Motor Company

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From China Mobile’s Call Upgrade to the Commercial Launch of “Calling + AI” by Leading Operators: AI Is Reshaping the Value of Native Calling

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BEIJING, July 25, 2026 /PRNewswire/ — On June 15, 2026, China Mobile announced a comprehensive upgrade to its traditional calling services, ushering in a next-generation calling experience defined by HD, intelligence, and security. This milestone not only marks a major leap in telecommunication innovation but also reflects a global, inevitable shift: the transformation of basic communication into intelligent, inclusive services.

Breaking Experience Barriers and Redefining the Paradigm of Basic Calling

Overcoming the limitations of traditional, voice-only interactions, China Mobile has leveraged its mature VoLTE/VoNR network foundation to deeply integrate AI models with HD audio and video capabilities. Without requiring users to change their phones or SIM cards, seven core AI functions are now seamlessly embedded into the native dialer interface.

These upgrades include Live Captions bridge communication gaps for the elderly and hearing-impaired; HD video calls and AI noise reduction create a crystal-clear, immersive calling experience; AI anti-fraud intercepts high-risk calls in real time to safeguard users’ assets. Furthermore, the introduction of Data Channel (DC) technology and visual call menus transforms standard calls into agile, interactive service windows, enabling multi-party collaboration and seamless business transactions directly within the call. Through this initiative, China Mobile has successfully evolved traditional calls from a mere voice pipeline into a secure, integrated information hub.

“Calling + AI” Becomes a Strategic Consensus Among Global Leading Operators

From a global perspective, China Mobile’s call upgrade is not an isolated milestone, but a microcosm of the global telecommunications industry’s broader transformation. Throughout 2026, major operators worldwide are accelerating the commercial deployment of “Calling + AI” solutions:

Deutsche Telekom launched Magenta AI, leveraging artificial intelligence to enhance calling across all scenarios;T-Mobile US introduced a network-side, real-time translation service covering over 80 languages, effectively breaking down cross-border communication barriers;Saudi stc rolled out English-Arabic bilingual simultaneous interpretation, which has now entered large-scale commercial trials;South Korea’s LG U+ launched its ixi-O intelligent calling assistant, shifting the user experience from passive responses to proactive smart interactions and earning three prestigious GLOMO industry awards.

The synchronized efforts of these global leaders confirm that basic calling services have officially entered a new era of AI integration. Deeply empowered by artificial intelligence, “Calling + AI” has become the definitive blueprint for the intelligent transformation of the global telecommunications industry. As operators continue to refine these native capabilities, the traditional voice network is poised to reclaim its position as the most secure, ubiquitous, and valuable entry point in the AI era.

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SOURCE China Mobile

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Trip.com Group Sincerely Accepts Administrative Penalty Decision Issued by the State Administration for Market Regulation of the People’s Republic of China

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SINGAPORE, July 25, 2026 /PRNewswire/ — Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) today announced that it has received the administrative penalty decision issued by the State Administration for Market Regulation of the People’s Republic of China.

Trip.com Group sincerely accepts the decision and will adopt rectification measures in accordance with applicable laws and regulations to implement the decision’s requirements. The Company will strengthen its long-term governance mechanisms and strive to contribute to the sustainable development of the travel industry.

Trip.com Group’s management team will host a conference call at 8:00 AM U.S. Eastern Time on July 27, 2026 (or 8:00 PM Hong Kong Time on July 27, 2026).

The conference call will be available on Webcast live at: http://investors.trip.com.

All participants must pre-register to join this conference call using the participant registration link below:
https://register-conf.media-server.com/register/BIb78e08d8f18340c4882a7e4ab961906b.

Upon registration, each participant will receive details for this conference call, including dial-in numbers and a unique access PIN. To join the conference, please dial the number provided, enter your PIN, and you will join the conference instantly.

For further information, please contact:
Investor Relations
Trip.com Group Limited
Email: iremail@trip.com

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SOURCE Trip.com Group Limited

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