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Mingteng International Corporation Inc. Announces Financial Results for Fiscal Year 2024

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1 year ago

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WUXI, China, April 30, 2025 /PRNewswire/ — Mingteng International Corporation Inc. (Nasdaq: MTEN) (the “Company” or “Mingteng International”), an automotive mold developer and supplier in China, today announced its financial results for the fiscal year ended December 31, 2024.

Mr. Yingkai Xu, Chairman and Chief Executive Officer of Mingteng International, remarked, “In fiscal year 2024, we made several strategic decisions, including expanding our production capacity and increasing our workforce, to adapt to evolving market dynamics and rising competition. While these initiatives resulted in higher investments and operating expenses, we achieved solid revenue growth of 23.0%, underscoring the effectiveness of our business strategy and the strength of our long-standing relationships with major customers. Notably, our machining services have become a key growth driver due to prioritized resource allocation. This segment grew by an impressive 327.6% during this year, surpassing our mold repair business to become the second-largest revenue contributor, accounting for the 21.2% of total revenue in fiscal year 2024.

As a result of scaling up our operations, our cost of revenues rose at a faster pace. However, we managed to maintain a healthy gross margin above 30%, despite increased costs and relatively stable selling prices. This demonstrates our ability to sustain profitability while building a strong business foundation for the future growth. Overall, we remained committed to our core strengths in technical expertise, service reputation, and product quality, even in the face of external challenges. The past year was a transformative for Mingteng International, marked by significant expansion, we believe these efforts have laid a robust foundation for long-term, sustainable growth. Backed by the dedication of our team and the successful execution of our strategic initiatives, we are confident in our ability to unlock further development opportunities and elevate our business to the next level with enhanced capabilities and infrastructure.”

Fiscal Year 2024 Financial Summary

Total revenue was $10.12 million in fiscal year 2024, an increase of 23.0% from $8.23 million in the fiscal year 2023.

Gross profit was 3.07 million in fiscal year 2024, compared to $3.32 million in fiscal year 2023.

Gross margin was 30.3% in fiscal year 2024, compared to 40.4% in fiscal year 2023.

Net loss was $5.68 million in fiscal year 2024, compared to net income $1.51 million in fiscal year 2023.

Basic and diluted losses per share were $0.97 in fiscal year 2024, compared to basic and diluted earnings per share $0.30 in fiscal year 2023.

Fiscal Year 2024 Financial Results

Revenues

Total revenue was $10.12 million in fiscal year 2024, an increase of 23.0% from $8.23 million in fiscal year 2023. After consideration of the impact of rising exchange rates, total revenue increased by 24.3% or 14.1 million in RMB base currency.

For the Year Ended December 31,

2024

2023

($ millions)

Revenue

Cost of Revenue

Gross Margin

Revenue

Cost of Revenue

Gross Margin

Mold production

6.87

4.86

29.3 %

6.64

4.20

36.7 %

Mold repair

1.10

0.48

56.5 %

1.08

0.43

60.8 %

Machining services

2.14

1.71

20.1 %

0.50

0.27

45.2 %

Total

10.12

7.05

30.3 %

8.23

4.90

40.4 %

Revenue from mold production was $6.87 million in fiscal year 2024, an increase of 3.5% from $6.64 million in fiscal year 2023. Despite the adverse impact of exchange rate fluctuations, mold production volume and revenues still represented a slight increase, this indicates that Wuxi Mingteng Mould Technology Co., Ltd. (“Wuxi Mingteng Mould”) maintains long-term relationships with major customers and continues to open up the mold market in fiscal year 2025.

Revenue from mold repair was $1.10 million in fiscal year 2024, an increase of 1.7% from $1.08 million in fiscal year 2023.

Revenue from machining services was $2.14 million in fiscal year 2024, an increase of 327.6% from $0.50 million in fiscal year 2023. The increase was mainly attributed to the Company continuing investment in improving the production capacity in the second half of year 2023 and the first half of year 2024. Revenues from machining services gradually serve as a main source of revenue for the Company in the year 2024. Currently, Kehua Holding Co., Ltd. and Suzhou Green Control Transmission Technology Co., Ltd. are our major customers in machine services.

Cost of Revenues

Cost of revenues was $7.05 million in fiscal year 2024, an increase of 43.9% from $4.90 million in fiscal year 2023. The cost of revenues mainly comes from raw material costs, manufacturing costs and labor costs. The revenues had not increased significantly, the reasons that costs growth has far exceed the growth of revenues as follows:

First, in order to promote the future development of machining service and expand production capacity, Wuxi Mingteng Mould hired more production labor in fiscal year 2024, which lead to an increase of $821,025 in labor cost in fiscal year 2023.

Second, in order to pursue the future development of the aluminum alloy pressure casting mold business and machining service and expand production capacity, the total investment of production machinery and equipment was $1,131,506 in fiscal year 2024, an increase from $650,982 in fiscal year 2023, resulting in an increase of depreciation expense which allocated to production costs of $59,817. The depreciation expense increased to $412,992 in fiscal year 2024 compared to $353,175 in fiscal year 2023. In addition, due to the expansion of production scale in fiscal year 2024, the indirect manufacturing costs also increased, such as the low-value consumption materials (mainly metal processing tools) increased by $446,490, amount to $972,225 in fiscal year 2024 from $525,735 in fiscal year 2023, and the charges for water and electricity increased by $106,101, amount to $260,541 in fiscal year 2024 from $154,440 in fiscal year 2023.

Last, due to the expansion of sales, the production orders increased, which means the materials assumptions also increased accordingly, the assumption of materials increased by $572,183, amount to $2,092,519 in fiscal year 2024 from $1,520,336 in fiscal year 2023.

Gross Profit and Gross Margin

Gross profit was $3.07 million in fiscal year 2024, a decrease from $3.32 million in fiscal year 2023. Gross margin was 30.3% for fiscal year 2024, compared to 40.4% in fiscal year 2023. Compared to fiscal year 2023, the labor costs and manufacturing expenses increased more significantly than the cost of raw materials in fiscal year 2024, leading to a relative decline in the proportion of raw materials within the total cost structure.

Gross margins for mold production, mold repair and machining services were 29.3%, 56.5%, and 20.1%, respectively, in fiscal year 2024, compared to 36.7%, 60.8%, and 45.2%, respectively, in fiscal year 2023.

Operating Expenses

Operating expenses were $8.18 million in fiscal year 2024, an increase of 417.4% from $1.58 million in fiscal year 2023.

Selling expenses were $150,418 in fiscal year 2024, a decrease of 1.8% from $153,213 in fiscal year 2023.The selling expenses remain stable.

General and administrative expenses were $7,395,559 in fiscal year 2024, an increase of 827.8% from $797,140 in fiscal year 2023, primarily due to a) share based compensation $4,408,200; b) the increase of consulting fee in fiscal year 2024 by $1,023,451 compared to fiscal year 2023, the Company paid large amount of consulting and professional fees for the Initial Public Offering (“IPO”) in April 2024; and c) due to the number of employees increased, the employee welfare expenses increased by $201,854; d) the increase in personal income tax accrued for stock-based payment of $736,473; e) after the successful listing of the Company, three independent directors were hired, resulting in an increase in salaries of $67,500.

Research and development expenses were $634,046 in fiscal year 2024, an increase of 0.5% from $630,752 in fiscal year 2023. Research and development expenses remain stable with a slight increase.

Net Income (Loss)

Net loss was $5.68 million in fiscal year 2024, compared to net income of $1.51 million in fiscal year 2023.

Basic and Diluted Earnings (Losses) per Share

Basic and diluted losses per share were $0.97 in fiscal year 2024, compared to basic and diluted earnings per share of $0.30 in fiscal year 2023.

Financial Condition

As of December 31, 2024, the Company had cash and cash equivalents of $2.08 million, compared to $1.06 million as of December 31, 2023.

Net cash provided by operating activities was $0.29 million in fiscal year 2024, compared to $1.30 million in fiscal year 2023.

Net cash used in investing activities was $3.43 million in fiscal year 2024, compared to $0.76 million in fiscal year 2023.

Net cash provided by financing activities was $4.15 million in fiscal year 2024, compared to net cash used in financing activities of $1.25 million in fiscal year 2023.

About Mingteng International Corporation Inc.

Based in China, Mingteng International Corporation Inc. is an automotive mold developer and supplier that focuses on molds used in auto parts. The Company provides customers with comprehensive and personalized and integrated mold services, covering mold design and development, mold production, assembly, testing, repair and after-sales service. With its production plant located in Wuxi, China, the Company aims to build a systematic solution for automobile mold services and create a personalized and integrated “Turnkey Project” for customers. The Company’s main products are casting molds for turbocharger systems, braking systems, steering and differential system, and other automotive system parts. The Company also produces molds for new energy electric vehicle motor drive systems, battery pack systems, and engineering hydraulic components, which are widely used in automobile, construction machinery and other manufacturing industries. For more information, please visit the Company’s website: https://ir.wxmtmj.cn/.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct. The Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to read the risk factors contained in the Company’s final prospectus and other reports its files with the SEC before making any investment decisions regarding the Company’s securities. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.

For investor and media inquiries, please contact:

Mingteng International Corporation Inc.
Investor Relations Department
Email: ir@wxmtmj.cn 

Ascent Investor Relations LLC

Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

 

 MINGTENG INTERNATIONAL CORPORATION INC.

CONSOLIDATED BALANCE SHEETS

As of December 31,

2024

2023

ASSETS

Current Assets

Cash and cash equivalents

$

2,080,715

$

1,056,236

Accounts receivable, net

4,171,809

3,517,632

Other receivables-bank acceptance notes, net

971,044

471,166

Advances to suppliers

122,456

388,110

Other receivables

15,690

12,344

Inventories, net

1,183,572

1,217,045

Contract costs, net

96,656

–

Total current assets

8,641,942

6,662,533

Non-current Assets

Property and equipment, net

3,857,200

3,335,187

Intangible assets

67,710

–

Operating lease right-of-use assets, net

38,133

–

Deferred offering costs

–

715,771

Long-term investments

1,356,618

–

Total non-current assets

5,319,661

4,050,958

Total Assets

$

13,961,603

$

10,713,491

LIABILITIES AND EQUITY

Current Liabilities

Short-term loans

$

1,391,130

$

282,378

Accounts payable

1,276,419

1,053,215

Other payables and other current liabilities

1,829,642

1,041,910

Advance from customers

515,650

401,935

Amounts due to related parties

240,166

240,309

Current portion of lease liabilities

13,006

–

Total current liabilities

5,266,013

3,019,747

Non-current Liabilities

Deferred tax liabilities

221,551

246,893

Non-current portion of lease liabilities

20,408

–

Total non-current liabilities

241,959

246,893

Total liabilities

5,507,972

3,266,640

Commitments and contingencies

Shareholders’ Equity:

Ordinary shares (Par value US$0.00001 per share, 5,000,000,000 shares authorized,
6,839,600 and 5,000,000 shares issued and outstanding as of December 31, 2024
and 2023)

68

50

Additional paid-in capital

7,620,339

897,308

Statutory reserves

465,572

465,572

Retained earnings

787,211

6,466,293

Accumulated other comprehensive loss

(419,559)

(382,372)

Total shareholders’ equity

8,453,631

7,446,851

Total Liabilities and Shareholders’ Equity

$

13,961,603

$

10,713,491

 

 

MINGTENG INTERNATIONAL CORPORATION INC.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Years Ended December 31,

2024

2023

2022

Revenues

$

10,120,257

$

8,225,911

$

8,026,764

Cost of revenues

(7,052,835)

(4,902,078)

(4,113,661)

Gross profit

3,067,422

3,323,833

3,913,103

Operating expenses:

Selling expenses

150,418

153,213

132,542

General and administrative expenses

7,395,559

797,140

926,786

Research and development expenses

634,046

630,752

492,526

Total operating expenses

8,180,023

1,581,105

1,551,854

(Loss) income from operations

(5,112,601)

1,742,728

2,361,249

Other income (expenses):

Government subsidies

651,267

129,138

92,832

Interest income

1,226

4,459

2,171

Interest expense

(36,769)

(59,477)

(53,991)

Other-than-temporary impairment

(1,121,382)

–

–

Other income, net

19,183

34,440

58,311

Total other income (expenses), net

(486,475)

108,560

99,323

(Loss) income before income taxes

(5,599,076)

1,851,288

2,460,572

Provision for income taxes

(80,006)

(344,586)

(327,384)

Net (loss) income

$

(5,679,082)

$

1,506,702

$

2,133,188

Comprehensive income (loss)

Net (loss) income

$

(5,679,082)

$

1,506,702

$

2,133,188

Foreign currency translation loss

(37,187)

(133,740)

(479,845)

Total comprehensive (loss) income

$

(5,716,269)

$

1,372,962

$

1,653,343

(Losses)/earnings per share

– Basic and diluted

$

(0.97)

$

0.30

$

0.43

Weighted average number of ordinary shares outstanding                   

– Basic and diluted

5,884,590

5,000,000

5,000,000

 

 

MINGTENG INTERNATIONAL CORPORATION INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Years Ended December 31,

2024

2023

2022

Cash flows from operating activities

Net (loss) income

$

(5,679,082)

$

1,506,702

$

2,133,188

Adjustments to reconcile net (loss) income to net cash provided by
operating activities:

Depreciation of property and equipment

515,982

404,881

272,237

Amortization of intangible assets

6,213

–

–

Amortization of right-of-use assets

1,031

97,095

158,180

Share-based compensation expenses

4,408,200

–

–

Impairment loss on long-term investments

1,121,382

–

–

Provision for impairment of inventory

55,510

5,936

–

Provision for impairment of contract costs

11,827

–

–

(Recovery) provision of credit loss

(6,650)

(5,079)

17,606

Deferred income tax

(21,916)

254,224

(4,304)

Loss on disposal of property and equipment

24,905

648

–

Changes in operating assets and liabilities:

Accounts receivable

(705,865)

(1,129,372)

(489,078)

Other receivables-bank acceptance notes

(511,554)

302,846

(294,440)

Advances to suppliers

196,125

(151,983)

(223,562)

Other receivables

28,631

(35,657)

760,209

Inventories

(39,787)

(180,335)

194,674

Contract costs

(109,388)

–

–

Accounts payable

75,993

348,641

224,538

Advances from customers

120,746

343,470

(34,598)

Other payables

7,696

–

50,474

Payroll payable

134,421

(32,932)

166,388

Taxes payable

662,925

(269,691)

354,593

Amounts due to related parties

3,422

(70,819)

(348,333)

Change in operating lease liabilities

(5,794)

(88,586)

(85,075)

Net cash provided by operating activities

294,973

1,299,989

2,852,697

Cash flows from investing activities

Purchase of property and equipment

(945,918)

(761,792)

(1,439,365)

Purchase of intangible asset

(37,698)

–

–

Proceeds from disposal of property and equipment

28,083

–

6,558

Purchase of long-term investment

(2,478,000)

–

–

Net cash used in investing activities

(3,433,533)

(761,792)

(1,432,807)

Cash flows from financing activities

Proceeds from short-term loans

1,404,163

1,419,094

1,709,764

Shareholder contribution

–

–

148,675

Dividends

–

–

(352,123)

Repayment of short-term loans

(280,833)

(2,483,415)

(966,388)

Proceeds from initial public offering, net

3,293,096

–

–

Payments of deferred offering costs

(264,950)

(172,179)

(144,000)

Principal payments under finance lease obligations

–

(12,488)

(230,372)

Net cash provided by (used in) financing activities

4,151,476

(1,248,988)

165,556

Effect of foreign exchange rate change on cash and cash equivalents

11,563

(26,296)

(99,156)

Net increase (decrease) in cash and cash equivalents

1,024,479

(737,087)

1,486,290

Cash and cash equivalents at the beginning of the year

1,056,236

1,793,323

307,033

Cash and cash equivalents at the end of the year

$

2,080,715

$

1,056,236

$

1,793,323

Supplemental disclosures of cash flow information:

Interest paid

$

36,769

$

59,477

$

101,459

Income taxes paid

$

113,108

$

205,761

$

53,991

Non-cash investing activities:

Right-of-use assets acquired under operating lease

$

39,526

$

–

$

–

Liabilities incurred for purchase of property and equipment

$

208,651

$

21,257

$

–

Liabilities incurred for purchase of intangible assets

$

36,859

$

–

$

–

 

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SOURCE Mingteng International Corporation Inc.

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Technology

Black Lake Technologies Shortlisted as SAIL Award TOP30 Finalist and Selected as Global Industrial AI Flagship Case, Showcasing Latest Industrial Agent at WAIC 2026

Published

12 minutes ago

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July 18, 2026

By

SHANGHAI, July 18, 2026 /PRNewswire/ — The 2026 World Artificial Intelligence Conference (WAIC) opened in Shanghai on July 17. Shanghai Blacklake Technologies Co., Ltd. (“Black Lake”), an industrial AI company, is showcasing a portfolio of industrial AI agents at the conference. The company has also been named to the Top 30 shortlist for the 2026 WAIC Super AI Leader (SAIL) Award and selected as a Trusted Partner under the Global Call for Trusted Partners for Industrial AI in the Global South.

The accreditations highlight Black Lake’s latest progress in bringing AI into critical manufacturing decision-making workflows and deploying industrial AI capabilities on the shop floor around the world.

This year’s conference attracted over 1,100 exhibiting companies and showcased more than 3,000 exhibits, setting a new record for exhibition scale. The conference delivered a clear signal: as artificial intelligence becomes a common priority across global industries, attention is moving beyond model capabilities toward practical applications in real-world operating environments.

Manufacturing provides a particularly demanding test for this transition. Factory operations are governed by multiple constraints, including process specifications, equipment capabilities, material availability, production capacity, delivery schedules and quality requirements. Therefore, AI has to do so much more than simply comprehend information input. It must make reliable judgments within clearly defined business rules and operational constraints.

Black Lake has focused on industrial digitalization and industrial AI for years, developing and deploying AI applications in a range of factory environments.

At WAIC 2026, the company is presenting industrial AI agents covering order splitting and process planning, quotation and pricing, procurement, production scheduling, quality inspection, and order tracking. These applications are designed to move AI beyond an auxiliary role and into critical manufacturing decision-making workflows.

Traditional industrial software is primarily responsible for data recording, digital workflows, and worker coordination. However, critical decisions such as how to split an order, determine pricing, schedule production, and assess quality risks still depend heavily on the experience of engineers and frontline workers.

Industrial AI agents are intended to convert fragmented industrial knowledge and production experience into decision-making capabilities that can be invoked, reused and continuously refined by software systems.

Order decomposition and process planning are representative examples. After receiving an engineering drawing, a factory typically relies on experienced engineers to identify components, materials and dimensions, define the required manufacturing processes and technical specifications, and establish a basis for subsequent quotation and quality inspection.

The process is highly dependent on individual expertise and represents one of the first critical decision points after an order is received.

Black Lake Technologies’ CAD-to-Process Agent can understand product drawings and, taking into account the factory’s equipment capabilities, process requirements, and production practices, rapidly generate process steps along with the corresponding technical requirements. Drawing analysis that once took hours can now be completed in approximately one minute, achieving an accuracy rate of over 95% in real deployment and providing engineers with stable, efficient decision support. Currently, the industrial agents developed by the company cover core processes including design, scheduling, production, and quality inspection, and have entered the stage of large-scale deployment.

Founded in 2016, Black Lake serves nearly 40,000 factories worldwide. Its customers span more than 30 industries, including food and beverage, automotive components and equipment manufacturing.

By working across factory order management, production and fulfillment workflows, Black Lake has accumulated the technical capabilities and industry knowledge required to support decision-making in complex industrial environments.

In April 2026, Black Lake completed a Series D funding round of nearly RMB 1 billion. The company said the proceeds would primarily be used to accelerate the deployment of its industrial AI products and support its international expansion.

AI-related products are becoming a new source of growth for the company. In a recent interview, Black Lake founder and CEO Zhou Yuxiang said that the company had recorded significant growth in AI-related revenue since the beginning of 2026. He also said that manufacturing customers were taking less time to make purchasing decisions for industrial AI agents.

Zhou expects AI adoption among Chinese factories to increase substantially over the next three to four years.

Unlike consumer-facing AI, which is primarily associated with content generation and personal productivity, industrial AI agents can directly affect production costs, capacity utilization, delivery performance, and product quality. Their commercial value therefore depends largely on whether they can perform specific tasks reliably in complex production environments.

During WAIC 2026, Black Lake was named to the Top 30 shortlist for the 2026 Super AI Leader (SAIL) Award. The SAIL Award is one of WAIC’s major awards and recognizes achievements in technological breakthroughs, application innovation, and industrial value.

Black Lake was also selected as a Trusted Partner under UNIDO’s Global Call for Trusted Partners for Industrial AI in the Global South.

The Global Call was launched under the guidance of the United Nations Industrial Development Organization (UNIDO), in partnership with the Shanghai Artificial Intelligence Research Institute, and in connection with the work of UNIDO AIM Global and its Shanghai-based Centre of Excellence.

The initiative aims to build a curated pool of leading partners to co-develop scalable industrial AI solutions and public goods for the Global South.

For Black Lake, the two accreditations underscore the growing importance of reliability, explainability, and scalability in the evaluation of industrial AI, in addition to the capabilities of AI models.

Global expansion will be a major priority in the company’s next phase of development. Black Lake is currently focusing on Southeast Asia, Latin America and Eastern Europe, adapting its industrial AI agents to the industrial structures, production processes and management requirements of different markets.

Although manufacturing operations vary across countries and regions, manufacturers share similar concerns about efficiency, quality, delivery reliability and production flexibility.

Black Lake is transforming industrial AI capabilities that have been validated in complex factory environments into configurable and deployable products. Through these products, the company aims to work with manufacturers worldwide to explore more efficient, flexible and intelligent approaches to production.

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SOURCE Black Lake

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76% of Coupon Codes Work at Checkout, but Most Failures Trace Back to Terms Shoppers Never Read, CouponDopa Study Finds

Published

1 hour ago

on

July 18, 2026

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Study Finds 76% of Coupon Codes Work at Checkout

NEW YORK, July 18, 2026 /PRNewswire-PRWeb/ — Multi-country research across 11 regions finds that most coupon code failures were not due to expired codes, but to terms and conditions shoppers did not check before checkout.

Our research shows that most coupon code failures are caused by overlooked terms and conditions not expired codes. Understanding the offer requirements can significantly improve checkout success.” — Anderson Joe, CMO, CouponDopa

A new study testing 1,000 coupon codes across 11 countries found that three in four online discount codes applied successfully at checkout, while the remaining failures were tied more often to unmet terms than to expired or invalid codes.

The research was conducted by CouponDopa, a multi-regional coupon platform operating in 11 countries. Codes were tested across multiple retail categories in July 2026 to measure real checkout success rates.

KEY FINDINGS

Overall success rate: 76%. Overall failure rate: 24%. Highest-performing country: Netherlands, 81%. Lowest-performing countries: Poland and Italy, tied at 70%. Highest-performing category: Electronics. Lowest-performing category: Travel. Desktop success rate: 78%. Mobile success rate: 74%.

The study’s most significant finding was not the failure rate itself, but the reasons behind it.

“The assumption most shoppers make is that a coupon code doesn’t work because it’s expired,” said Anderson Joe, CMO at CouponDopa. “Our testing found that expiry was rarely the primary issue. In most failed attempts, the code was still active, but the shopper’s cart did not meet a listed condition, such as a minimum spend or a region restriction.”

WHY COUPON CODES ACTUALLY FAIL

Minimum spend not met: the most common reason for failure across all 11 regions, since many codes require a basket value above a set threshold.Region-specific restrictions: codes valid in one country frequently failed in another.Unread terms and conditions: codes were applied to excluded categories, sale items, or specific product ranges without checking eligibility first.Delivery and shipping thresholds: free shipping codes requiring a minimum order value were sometimes mistaken for blanket offers.

No exact percentage breakdown of failure causes is available. Minimum spend is confirmed as the single most common cause; the other three were not ranked against each other.

“In our view, a code that fails because of an unmet minimum spend is not necessarily a broken code,” said Anderson. “It may simply be a condition the shopper did not see before checkout.”

REGIONAL FINDINGS — NETHERLANDS LEADS

Country Success Rate

Netherlands 81%

Germany 79%

United States 77%

Canada 77%

United Kingdom 76%

Australia 75%

New Zealand 74%

France 73%

Spain 72%

Poland 70%

Italy 70%

Netherlands recorded the highest success rate of the 11 regions tested. Germany followed closely. The United Kingdom matched the overall study average, and Canada and the United States recorded the same rate. Poland and Italy recorded the lowest rates in the study, tied at 70%.

ELECTRONICS OUTPERFORMS TRAVEL

Electronics recorded the highest coupon code success rate of any category tested, at 80%, while travel recorded the lowest, at 69%.

“Electronics codes in our sample tended to carry fewer conditions,” noted Anderson Joe. “Travel codes more often included conditions tied to dates, destinations, or booking windows, which may explain the difference.”

MOBILE SHOPPERS RECORD LOWER SUCCESS RATES

Desktop checkouts recorded a 78% success rate compared with 74% for mobile, a 4-point gap. Researchers said the difference may relate to how terms are displayed on smaller screens, though this was not directly tested.

“We saw a consistent gap between desktop and mobile across our markets,” said Anderson Joe. “We can’t say precisely why from this data alone, but it’s a pattern worth further study.”

ABOUT THE STUDY

CouponDopa tested 1,000 coupon codes across 11 countries during July 2026, across electronics, fashion, food delivery, travel, beauty, and home categories. Codes were manually tested at real checkouts on desktop and mobile. A code counted as successful only when the discount appeared in the checkout total. Failed codes were categorized by reason. Read the complete methodology available at CouponDopa tested 1000 coupon codes in 11 regions.

ABOUT COUPONDOPA

CouponDopa is a multi-regional coupon and discount platform operating across 11 countries. CouponDopa verifies coupon codes across hundreds of brands before publishing, providing shoppers with discount information across major retail categories, including verified codes available on CouponDopa’s store pages.

MEDIA CONTACT

Organization: Coupondopa

Contact Person Name: Anderson Joe

Website: https://www.coupondopa.com/

Email: info@coupondopa.com

Contact Number: +1 (530) 269-6377

Address: 165 ithaca Bayshore NY, 11706 USA

City: Bay Shore

State: NY

Country: United States

Media Contact

Anderson Joe, Coupondopa, 1 631 404-9968, coupondopa@gmail.com, https://www.coupondopa.com/

View original content:https://www.prweb.com/releases/76-of-coupon-codes-work-at-checkout-but-most-failures-trace-back-to-terms-shoppers-never-read-coupondopa-study-finds-302828186.html

SOURCE CouponDopa

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Technology

Global Times: Head-of-state diplomacy shines at WAIC, fostering ties and advancing global governance consensus

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July 18, 2026

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BEIJING, July 17, 2026 /PRNewswire/ — Chinese President Xi Jinping on Friday held a series of high-level meetings on the sidelines of the 2026 World Artificial Intelligence Conference (WAIC) and High-Level Meeting on Global AI Governance in Shanghai, sitting down successively with Thai Prime Minister Anutin Charnvirakul, Cambodian Prime Minister Hun Manet, and UN Secretary-General António Guterres. The bustling diplomatic activity transformed the WAIC from a premier showcase of AI technologies and industrial breakthroughs into a vibrant platform for head-of-state diplomacy and global governance coordination.

Analysts said hosting intensive head-of-state diplomatic events in Shanghai, a core hub of reform, opening-up and technological innovation, carries profound meaning. In addition, Friday’s high-level meetings embody the innovative model of “technology builds the stage while diplomacy takes the leading role.” It not only deepens China’s bilateral relations with ASEAN members, but also helps advance inclusive global AI governance centered on the UN mechanism.

Strategic guidance

According to the two separate official releases by Xinhua, during his meetings with the prime ministers of Thailand and Cambodia, President Xi spoke of the long-standing friendship China shares with both nations. He called on China and Thailand, as well as China and Cambodia, to join hands to advance the development of their respective communities with a shared future.

Furthermore, the Chinese leader stressed the need for China to expand pragmatic cooperation with Thailand and Cambodia respectively across traditional and emerging sectors, and work with each country to jointly crack down on cross-border crimes such as online gambling and telecom fraud, according to Xinhua.

He called for the proper handling of border frictions between Thailand and Cambodia and called on the two sides to resolve disputes through dialogue and consultation, with China standing ready to continue playing a constructive role in this regard, per Xinhua.

During their respective meetings with the Chinese leader, the prime ministers of Thailand and Cambodia both expressed willingness to deepen multi-field cooperation with China and spoke highly of China’s positive efforts to facilitate the peaceful settlement of the Thailand-Cambodia border conflicts.

Xu Liping, Director of the Center for Southeast Asian Studies at the Chinese Academy of Social Sciences, told the Global Times that head-of-state diplomacy has charted the fundamental course for the advancement of China’s ties with both Cambodia and Thailand.

WAIC exemplifies the innovative model of “technology builds the platform, while diplomacy takes the leading role,” said Xu, “In addition, AI cooperation is also expected to serve as a vital entry point to further deepen and substantiate China’s ties with Thailand and Cambodia going forward.”

Furthermore, addressing the sensitive and thorny Thailand-Cambodia border dispute amid the relatively relaxed atmosphere of a tech summit enables all relevant parties to handle differences in a rational and pragmatic manner, which embodies Eastern wisdom and an Asian approach to resolving issues, said Xu.

The year 2026 marks the fifth anniversary of the establishment of the China-ASEAN comprehensive strategic partnership, witnessing the official rollout of the new Plan of Action on the China-ASEAN Comprehensive Strategic Partnership (2026-2030). It also kicks off the implementation of China’s 15th Five-Year Plan.

The critical juncture offers a perfect window to align China’s development plans closely with the national development strategies of Global South countries and ASEAN members, said Xu. “Thailand and Cambodia’s willingness to ramp up cooperation with China mirrors the aspiration of the majority of ASEAN members to leverage China’s development dividends and pursue win-win outcomes and common prosperity in the region.”

Firm support for UN

In his meeting with UN Secretary-General Antonio Guterres on Friday, Xi reiterated China’s firm support for the UN.

Noting that this year marks the 55th anniversary of the restoration of the lawful seat of the People’s Republic of China at the UN, the Chinese leader said China has since been committed to building world peace, contributing to global development, defending international order, and firmly supporting the UN, Xinhua reported.

Xi added that he proposed the vision of building a community with a shared future for humanity and the four global initiatives with one important consideration in mind – to uphold the status and authority of the UN.

Currently, the international landscape is marked by more pronounced changes and turbulence, making it all the more necessary to practice true multilateralism and reinvigorate the status and role of the UN, he said.

Guterres commended China for its steadfast support for multilateralism, the cause of the UN, and international cooperation, saying that China has set an example for the world.

Guterres said the UN will continue to strengthen cooperation with China, oppose unilateralism, protectionism, and hegemonic bullying, safeguard the UN Charter and international law, as well as advance the process toward a multipolar world.

At this pivotal juncture where talks on AI development and UN multilateral governance converge, China, leveraging head-of-state diplomacy as a top-tier platform, has elaborated in a systematic manner its vision for global governance in the AI era, Wang Yiwei, a professor at the School of International Studies, Renmin University of China, told the Global Times.

He added that China’s emphasis on the UN-centered global governance architecture will further strengthen the UN’s authority and operational capacity.

Before the official opening of the WAIC, on Thursday, representatives from 29 countries, including Kazakhstan, Laos, Pakistan, Russia and Indonesia, signed an agreement on establishing the World Artificial Intelligence Cooperation Organization (WAICO) in Shanghai. UN chief Guterres was among representatives from countries and international organizations present at the signing ceremony.

According to the agreement, WAICO will be an independent intergovernmental international organization, which aims to promote international cooperation and global governance on AI, ensuring that AI is beneficial, safe and fair, thereby promoting its healthy and orderly development to benefit all humanity.

President Xi on Friday also announced that in the next five years, China will provide developing countries with 5,000 opportunities in AI training and seminar programs. China will also develop international AI application cooperation centers with the ASEAN, the League of Arab States, the African Union, the Community of Latin American and Caribbean States, the Shanghai Cooperation Organization, and BRICS.

However, some international media, including Reuters and Nikkei, used the term “AI diplomacy” describing the grand gathering in Shanghai, claiming that Beijing seeks a new global AI order, challenging US dominance.

In rebuttal, Wang pointed out that China advocates open, inclusive technology that lets AI benefit all humanity under the vision of “AI for All”. In contrast, the US adheres to a mindset of “All for AI”, weaponizing AI for geopolitical rivalry and aiming to outpace China in technological competition. Driven by the “America First” doctrine and capital-centric priorities, Washington’s approach forms a sharp contrast with China’s.

Meanwhile, China’s resolute commitment to upholding the UN system underscores that for China and a wide array of Global South countries, the sensible path lies in reforming and improving the existing global governance architecture rather than discarding it to build parallel institutions from scratch, the expert added.

This article first appeared on Global Times

View original content:https://www.prnewswire.com/news-releases/global-times-head-of-state-diplomacy-shines-at-waic-fostering-ties-and-advancing-global-governance-consensus-302828946.html

SOURCE Global Times

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