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64% OF MSMEs RESUME POST-PANDEMIC; 54% REPORT 10% YOY GROWTH: SAYS THE THIRD EDITION OF MSME SAMPARK REPORT BY UGRO CAPITAL AND DUN & BRADSTREET

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In-depth analysis of 45,000+ MSMEs, highlighting credit access, formalization, and digitalization for growth.

MUMBAI, India, April 11, 2025 /PRNewswire/ — UGRO Capital Ltd., a leading DataTech NBFC focused on MSME lending, has released the 3rd MSME Sampark Report – a semi-annual report that is prepared in partnership with Dun & Bradstreet. The 3rd edition highlights that 64% of MSMEs have resumed activity post-pandemic, with around 54% reporting a growth of over 10% Year-on-Year (YoY), underlining the sector’s strong momentum. However, growth in investments in Udyam-registered MSMEs has slowed from 61% in FY22 to 22% in FY23 and 23% in FY24. Large and medium businesses anticipate slower domestic growth in Q1 2025, while small firms remain optimistic. It is noteworthy that while capital costs are expected to remain high in Q1 2025, revised MSME classification criteria could drive further investment and expansion.

 

Mr. Shachindra Nath, Founder & Managing Director – UGRO Capital, said “MSME Sampark has gone beyond just a report and is slowly becoming a movement that brings together industry leaders, policymakers and financial institutions to collaboratively shape the future of MSME financing. With the 3rd edition of MSME Sampark, we aim to elevate the discourse further by exploring the next phase of MSME credit delivery in India. Our analysis reveals a nuanced picture. We see moderation in total loan disbursement in recent quarters, a trend reflecting more conservative lending practices across the industry. While this could be attributed to stricter risk assessments, it also presents an opportunity for NBFCs to play a more strategic role in bridging the credit gap. The increasing formalisation of MSMEs, as evidenced by lower cash percentages and improved debt-to-turnover ratios, especially among mature and larger businesses, is an encouraging sign.

MSME Sampark’s 3rd edition reaffirms our commitment to empower India’s MSMEs with the right financial solutions, insights, and policy advocacy that drive their sustained growth.”

Dr. Arun Singh, Global Chief Economist – Dun & Bradstreet, said “Dun & Bradstreet’s sector risk ratings indicate improvements in the risk profile of MSMEs in 2024 from 2023, despite global and domestic economic uncertainties. Improvements in the MSMEs’ credit profile were also indicated through a decline in the gross non-performing assets (GNPAs) postpandemic. The overall GNPAs touched a 12-year low in September 2024, with GNPA of large borrowers at 2.4% and of MSMEs at 2.2%, respectively, compared to 12.8% and 11% during early 2020. However, businesses have scaled back their optimism for capital expenditure as their outlook on managing financial risks has deteriorated, reflecting heightened uncertainty faced by them.”

Key Findings:

The 3rd edition highlights that 64% of MSMEs have resumed activity post-pandemic, with around 54% reporting a growth of over 10% Year-on-Year (YoY), underlining the sector’s strong momentum.Global supplier risks are rising as businesses prioritise localised supply chains. Sales and export optimism is declining due to economic uncertainty and trade policies.India has maintained over 7% annual average growth over the past 15 years, excluding the pandemic, and is projected to grow at 6.6% in FY26.Growth in investments by Udyam-registered MSMEs has slowed from 61% in FY22 to 22% in FY23 and 23% in FY24. However, revised MSME classification criteria could drive further investment and expansion.Large and medium businesses anticipate slower domestic growth in Q1 2025, while small firms remain optimistic.Export sentiment among small and medium businesses has weakened amid geopolitical and trade protectionist concerns.Capital costs are expected to remain high in Q1 2025, influencing investment decisions. Medium-sized firms have scaled back optimism on capital expenditure, while small businesses show slight improvement.Credit growth has declined for micro and small businesses (15.5% in May 2024 to 10.1% in Nov 2024), remained stable for large businesses, and surged for medium-sized firms (12.6% in June 2024 to 20.0% in Nov 2024).

Findings from analysis of 45,000+ MSMEs during 2021-2024 across 7 sectors

Debt & Credit Trends in MSMEs: Loan disbursements have moderated in 2024, but the rise in working capital loans highlights a growing reliance on short-term financing. This shift reflects the challenges businesses face in long-term planning amid economic uncertainty. Among the 45,000+ MSMEs analysed, the light engineering, electrical equipment, food processing, and chemical sectors emerged as the largest borrowers in the first three quarters of 2024. Interestingly, over the past six months, B2C businesses have taken on less new debt than B2B businesses, except in the auto components and hospitality sectors.

Growing Formalisation in MSMEs: The study finds a clear trend toward formalisation, as businesses report lower cash holdings and declining debt-to-turnover ratios. This shift suggests improved financial management, optimised cash flows, and reduced dependence on external financing. The effect is even more pronounced in mature and larger businesses (₹20 crore+), signalling a steady move toward greater financial transparency and stability.

Micro Businesses & Credit Access: Among 15,000+ micro businesses studied, loan inquiries continue to rise despite lower disbursements, pointing to a persistent demand-supply gap in credit availability. While businesses actively seek funding, lenders remain cautious. A notable trend in 2024 is the increased preference for asset-backed financing, such as loans against gold jewellery, over cash flow-based lending — a sign that lenders favour secured credit amid economic uncertainties.

The semi-annual report, prepared in partnership with Dun & Bradstreet, a leading global provider of business decisioning data and analytics, offers a comprehensive analysis of India’s MSME sector that reveals key trends and opportunities for the sector’s future. It is based on an in-depth analysis of over 45,000 MSMEs across seven key sectors. It offers a nuanced understanding of the MSME landscape, stressing the importance of credit access, formalisation, and digitalisation in ensuring sustained growth.

The report can be downloaded for free from the websites of Dun & Bradstreet India (http://www.dnb.co.in/) and UGRO Capital (http://www.ugrocapital.com/).

About UGRO Capital Ltd (NSE: UGROCAP I BSE: 511742)

UGRO Capital Limited is a DataTech Lending platform, listed on NSE and BSE, pursuing its mission of “Solving the Unsolved” for the small business credit gap in India, on the back of its formidable distribution reach and its DataTech approach. It aims to service every need of every MSME as it believes that #MSMEAchhaHai.

The Company’s prowess in Data Analytics and strong Technology architecture allows for customized sourcing platforms for each sourcing channel – GRO Plus module, which has uberized intermediated sourcing; GRO Chain, a supply chain financing platform with automated end-to-end approval and flow of invoices; GRO Xstream platform for co-lending, an upstream and downstream integration with fintechs and liability providers; and GRO X application, to deliver embedded financing option to MSMEs.

The company’s patented proprietary underwriting model, GRO Score (3.0), is a statistical framework using AI / ML driven statistical models to risk-rank customers and it is revolutionizing MSME credit by providing on-tap financing like consumer financing in India by assessing a borrower’s creditworthiness based on a data tripod – banking, bureau and GST records. UGRO is also a pioneer in the Co-lending model in India, which is prevalent in the West.

The Company is backed by marquee institutional investors (raised INR 900+ Cr of equity capital in 2018, INR 340 Cr in 2023 and INR 1265 Cr in 2024) and aims to capture 1% market share over the next three years. For more information, please visit: http://www.ugrocapital.com/.

Looking ahead, U GRO Capital remains steadfast in its dedication to leverage technology, data-driven insights, and

industry expertise to provide innovative ­financial solutions that meet the evolving needs of MSMEs.For more information, please visit: http://www.ugrocapital.com/

About Dun & Bradstreet India

Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet’s Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity. For more information on Dun & Bradstreet, please visit www.dnb.com.

Dun & Bradstreet Information Services India Private Limited is headquartered in Mumbai and provides clients with data-driven products and technology-driven platforms to help them take faster and more accurate decisions across finance, risk, compliance, information technology and marketing. Working towards Government of India’s vision of creating an Atmanirbhar Bharat (Self-Reliant India) by supporting the Make in India initiative, Dun & Bradstreet India has a special focus on helping entrepreneurs enhance their visibility, increase their credibility, expand access to global markets, and identify potential customers & suppliers, while managing risk and opportunity.

India is also the home to Dun & Bradstreet Technology & Corporate Services LLP, which is the Global Capabilities Center (GCC) of Dun & Bradstreet supporting global technology delivery using cutting-edge technology. Located at Hyderabad, the GCC has a highly skilled workforce of over 500 employees, and focuses on enhanced productivity, economies of scale, consistent delivery processes and lower operating expenses.

Visit www.dnb.co.in for more information. Click here for all Dun & Bradstreet India press releases.

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Kuaishou Technology to Report 2026 First Quarter Financial Results on May 27, 2026

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HONG KONG, May 6, 2026 /PRNewswire/ — Kuaishou Technology (“Kuaishou” or the “Company”; HKD Counter Stock Code: 01024 / RMB Counter Stock Code: 81024), a leading content community and social platform, today announced that it will report its unaudited consolidated first quarterly results for the three months ended March 31, 2026, after the Hong Kong market closes on Wednesday, May 27, 2026.

The Company’s management will host a conference call on Wednesday, May 27, 2026, at 7:00 PM Beijing Time (7:00 AM U.S. Eastern Time) to discuss the results.

Participants are required to pre-register for the conference call at:

Chinese Line (Mandarin):
https://s1.c-conf.com/diamondpass/10054245-xi6ksd.html

English Simultaneous Interpretation Line (listen-only mode):
https://s1.c-conf.com/diamondpass/10054246-wl3yqp.html

Participants can choose between the Chinese and English simultaneous interpretation options for pre-registration above. Please note that the English simultaneous interpretation option will be in listen-only mode. Upon registration, participants will receive an email containing conference call dial-in details, event passcode, and a unique registrant ID. This information will allow you to gain immediate access to the call. Participants may pre-register at any time, including up to and after the call start time.

Additionally, live, and archived webcasts of the conference call, for both Chinese and English simultaneous interpretation, will be available on the Company’s investor relations website at https://ir.kuaishou.com.

Replays of the conference call will be available until June 3, 2026 via the following dial-in details:

Dial-in Numbers

Mainland China:

400 1209 216

Hong Kong:

800 930 639

US/Canada:

1855 883 1031

Chinese conference ID:

10054245

English simultaneous interpretation conference ID:

10054246

About Kuaishou

Kuaishou is a leading content community and social platform in China and globally, committed to becoming the most customer-obsessed company in the world. Kuaishou uses its technological backbone, powered by cutting-edge AI technology, to continuously drive innovation and product enhancements that enrich its service offerings and application scenarios, creating exceptional customer value. Through short videos and live streams on Kuaishou’s platform, users can share their lives, discover goods and services they need and showcase their talent. By partnering closely with content creators and businesses, Kuaishou provides technologies, products, and services that cater to diverse user needs across a broad spectrum of entertainment, online marketing services, e-commerce, local services, gaming, and much more. For more information, please visit https://ir.kuaishou.com.

For investor and media inquiries, please contact:

Kuaishou Technology
Investor Relations
Email: ir@kuaishou.com

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SOURCE Kuaishou Technology

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Mox Breaks Even in Q1 2026 amid Strengthening Profitability Outlook, Launches Mox+ Wealth Solutions and Mox Invest Upgrades

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Bringing Wealth Within Reach of all in Hong Kong

HONG KONG, May 6, 2026 /PRNewswire/ — Mox Bank Limited (“Mox” or “the Bank”), on the back of delivering a financial breakeven quarter for Q1 2026, today announced the launch of Mox+. This wealth solution is engineered for Hong Kong’s young professionals and emerging affluent and will be a driver of sustainable profitability for the Bank. Mox+ combines wealth capabilities with curated lifestyle benefits, marking Mox’s evolution from everyday banking to a comprehensive wealth partnership.

The financial achievement was driven by robust momentum across all business lines and achieving a significant milestone demonstrates the success of the accessible business model which after 5 years is now used and valued by over 750,000 customers in Hong Kong.

Barbaros Uygun, CEO of Mox, said, “Achieving financial breakeven for the first quarter of 2026 on the back of a strong 2025 set of results, shows our direction of travel. We have the momentum to drive positive change, providing wealth opportunities to all in Hong Kong and do so in a profitable manner. Our client-centric business model is proving that it is the right one for sustainable profitability. 

Our digital wealth management platform serves as a trusted partner for our over 750,000 customers at every stage of life, empowering them to manage their finances with confidence and unlock new possibilities. We are entering a new chapter of growth as we continue to expand our product portfolio and wealth management offerings, with the launch of Mox+ being one such initiative.”

He continued, “To support this evolution, we are evolving into an AI-native bank, doubling our operational capacity through a strategic human-bot partnership, equipping every staff member with a personalised AI assistant to deliver even greater service and efficiency.”

Mox+ members enjoy preferential fees and charges on Mox Invest and preferential pricing on foreign exchange, enhanced deposit rates (3.5% p.a. up to HKD5 million), as well as priority customer support and early access to experiences and new products. These benefits can be gained simply by maintaining an average daily balance of HKD 600,000 or above across all deposits and investments which will lead to automatic qualification for Mox+ for the following month. The programme integrates financial advantages with lifestyle benefits—including curated dining rebates, free hotel stays, Starbucks coffee vouchers, health benefits and exclusive member experiences—reflecting Mox’s belief that wealth building should be both strategic and rewarding.

Jayant Bhatia, Chief Business Officer of Mox, commented, “At Mox, we are dedicated to establishing the financial well-being of Hongkongers. Designed and tailored for Hong Kong’s young professionals and emerging affluent segment, which is underserved in Hong Kong, Mox+ offers solutions for daily savings and preferential wealth management service fees for long-term wealth creation as well as rewarding lifestyle benefits. This is strategically significant as one of our key initiatives to drive business growth and make Wealth Within Reach for Hongkongers.”

Throughout 2025, Mox has already strengthened its product portfolio with new solutions in Mox Invest. The Mox Invest platform saw trading volumes increasing to 2.4 times and assets under management (AUM) growing to 2.6 times that of last year. More than 10% of Mox customers have opened a Mox Invest account, reflecting strong demand for its wealth solutions driven by new products and services. In 2026, we will continue our momentum in launching new and innovative products and services and are already scaling up to serve the next generation of wealth builders in Hong Kong. Having already recently launched a crypto trading service, Mox Invest is set to introduce an IPO subscription service later this year.

The Bank has clear reasons for continuing to develop wealth management products. The “Wealth Behaviours: Insights into how individuals are saving and investing” survey conducted by Mox in collaboration with Ipsos revealed that Hongkongers continue to take a conservative approach to investing, with 63% of their liquid assets kept in cash and deposits – a trend that contributes to “cash drag” and limits potential wealth growth. More than two-thirds of respondents indicated they require an average of 5.6 months to save up to their desired investment threshold and typically delay investing their savings by a further 2.75 months on average, resulting in missed opportunities for long-term wealth accumulation[1]. This survey will continue as an ongoing research initiative to deepen our understanding of Hongkonger’s wealth management behaviours and enable the Bank to develop tailored solutions that puts wealth within reach.

After Mox was amongst the first wave of banks in Asia to offer a crypto trading service, Mox Invest now further offers One Click Investments (a simplified process for buying equities based on themes such as AI, technology, amongst others), Trading Signals, and gives customers access to professional  fund strategies including Signature CIO funds developed in partnership between Standard Chartered Bank CIO office and Amundi. The Signature CIO funds offer four different type of funds based on individuals’ risk appetite which could be Conservative, Income, Balanced or Growth. Customers also have options amongst a wide range of funds offered by other world-class fund houses.

A Track Record of Rapid Scale and Adoption in the Last 5 Years

Since its launch in September 2020, Mox has brought to the market more than 15 market-first products or services and achieved significant scale with over 750,000 customers, reflecting the trust and growing preference of Hong Kong consumers for a seamless digital banking experience. To date, Mox customers have driven a cumulative spend of HKD70 billion, supported by a robust volume of 176 million card transactions and approximately 2 billion Asia Miles earned through Mox Card and other banking services. Its commitment to delivering tangible value to customers is further evidenced by the HKD2 billion distributed in cash rewards.

Beyond daily spending, Mox has become central to its customers’ financial lives, facilitating approximately 50 million outward FPS transfers and more than 5 million bill payments. As a preferred companion for travelers, the Mox Card has been used over 31 million times in overseas transactions, contributing to a total of 250 million app engagements as we continue to redefine digital banking for the Hong Kong community.

To learn more about Mox, please visit: mox.com.

About Mox Bank Limited (“Mox”) 
Mox is a pioneering digital bank licensed in Hong Kong, and a registered institution (CE number: BNO808) powered by Standard Chartered in partnership with PCCW, HKT and Trip.com. Launched in September 2020, Mox is reimagining banking, unlock more of life’s possibilities, and setting global benchmarks for digital banking from Hong Kong.   

Mox is well on track to be the number one digital bank for cards, lending and wealth. In 2026, it was awarded as Best Pure-Play Digital Bank for CX in Hong Kong and Outstanding Digital CX in Banking App/ Platform by The Digital Banker Digital CX Awards. It was also recognised as NeoBank of the Year, Retail Banking, Hong Kong and Best Retail Banking Experience, Hong Kong by The Asset Triple A Digital Finance Awards. In 2025, Mox is ranked as the number one digital bank in Hong Kong in Neobank Ranking 2025 by The Banker, a publication by Financial Times. It was also awarded the Best Digital Bank in Hong Kong by The Asian Banker for three consecutive years, and the Digital Bank of the Year in Hong Kong by Asian Banking & Finance for two years in a row. It was also recognised as one of Asia’s Top 5 mobile banking app and the number one Hong Kong digital banking app in Sia Partners’ 2025 International Mobile Banking Benchmark. Mox Credit Card held its position as the seventh-largest credit card portfolio among all retail banks in Hong Kong[2]. Through a scalable platform, lower cost-to-serve, top-notch customer experience and the unique promise of safe, simple, smart, and fun banking, Mox has found immense affinity among Hong Kong customers: Mox app is the top-rated Hong Kong digital banking app in Apple App Store in Hong Kong[3], scoring 4.8 out of 5. Mox’s influence extends beyond Hong Kong, as shown by the company’s technology and know-how being transferred to Trust Bank in Singapore. 

Join us in shaping the future of banking.

Follow Mox on mox.com, Facebook, Instagram, Threads, LinkedIn and YouTube for our latest updates.

[1] The “Wealth Behaviours: Insights into how individuals are saving and investing” study was conducted in collaboration with Ipsos and it surveyed 2,500 working adults with a monthly household income above HKD15,000 in Hong Kong between August 2025 and April 2026.

[2] According to TransUnion’s Market Insights and Intelligence Dashboard (MIID) for the period from January to December 2025.

[3] As of the period from 28 January 2025 to 5 May 2026.

 

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UK Students Recognised in National AI Investment Challenge

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University teams apply AI to real-world investment problems, with Lancaster University team taking the top prize.

LONDON, May 6, 2026 /PRNewswire/ — CFA Institute, the global association of investment professionals, has announced the winner of its inaugural AI Investment Challenge, with the top prize awarded to a student team from Lancaster University.

Some 28 teams from 15 universities took part in the competition.

Delivered by CFA Institute and CFA Society UK, the competition brought together students from universities across the United Kingdom to tackle real investment challenges using artificial intelligence. The focus was on practical application, responsible use, and real-world relevance. 

Finalists came from Durham University, Heriot-Watt University, Lancaster University, University of Exeter, and University of Manchester. 

Teams presented AI-powered solutions to a range of industry challenges, from assessing how carbon pricing affects portfolio values to analysing large volumes of company disclosures and extracting insights from company earnings calls. The winning team from Lancaster University impressed judges with its design of a Disclosure Degradation Detection System – an early-alert tool for analysts that monitors upstream exposure to disclosure risk by analysing company and supplier filings for increasingly vague, complex, or weakening language.

Peter Watkins, Head of University Relations, CFA Institute, said:

“It’s encouraging to see how quickly students can apply technical skills to real investment problems. The strongest teams combined solid analysis with a clear understanding of how AI can be used responsibly in practice. This reflects where the investment industry is heading, with professionals expected to use new technologies effectively while continuing to apply sound human judgement.”

Nick Bartlett, CFA, ASIP, Chief Executive, CFA Society UK, adds:

“It’s been great to see students from across the UK take part. Opportunities like this help people build practical skills, make connections in the industry, and gain confidence in applying what they’ve learned. Bridging that gap between education and industry is increasingly important, as the skills needed for a career in the investment profession continue to evolve.” 

The winning team members from Lancaster University are Connor O’Keeffe, Ebro Dossajee, and Bradley McCann.  

Connor O’Keeffe, speaking on behalf of the winning team, said: 

“The CFA Institute AI Investment Challenge gave us the chance to work on a real investment problem and engage directly with industry professionals. Presenting our work and receiving feedback has been invaluable, and we’re proud to bring first place back to Lancaster. It’s been a great experience for the whole team.”

Steve Young, Professor of Accounting at Lancaster University Management School, commented:

“The AI Investment Challenge is a fabulous initiative from CFA Institute that helps students formulate and execute artificial intelligence solutions to assist investment analysis professionals, and we are thrilled that Brad, Connor, and Ebro have been able to make such a positive contribution to the competition. Congratulations to all teams involved and thank you to CFA Institute and CFA Society UK for organising such an inspiring event.” 

The competition was judged on practical relevance, quality of analysis, innovation in the use of AI, responsible use of technology, and clarity of presentation. The final was judged by a panel of six investment industry professionals based in the UK. 

University representatives and students can opt-in to be the first to hear about future AI Investment Challenge events via Information Waitlist.

Notes to Editors

The AI Investment Challenge was held on Thursday 30 April 2026 in London.

First, second, and third-place teams received prizes of £2,000, £1,200, and £800, respectively. In addition, all finalist team members received a CFA Program Access Scholarship and the opportunity to showcase their work on CFA Institute platforms. 

More information about the AI Investment Challenge is available here: CFA Institute AI Investment Challenge

About CFA Institute
As the global association of investment professionals, CFA Institute sets the standard for professional excellence and credentials. We champion ethical behavior in investment markets and serve as the leading source of learning and research for the investment industry. We believe in fostering an environment where investors’ interests come first, markets function at their best, and economies grow. With more than 200,000 charterholders worldwide across 160 markets, CFA Institute has 8 offices and 157 local societies. Find us at www.cfainstitute.org or follow us on LinkedIn, and subscribe on YouTube.

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