HONG KONG, Mar 17, 2025 - (ACN Newswire via SeaPRwire.com) - Yuexiu Real Estate Investment Trust ("Yuexiu REIT", together with Yuexiu REIT Asset Management Limited, collectively known as the “REIT”; stock code: 405) announced its annual results for the year ended 31 December 2024.Yuexiu REIT Management Team: Chairman, Chief Executive Officer and Executive Director Mr. LIN Deliang (third from the left), Deputy Chief Executive Office and Executive Director Ms. OU Haijing (second from the left), Chief Financial Officer Mr. KWAN Chi Fai (first from the left), and Investor Relations Director Mr. JIANG Yongjin (fourth from the left)2024 Annual Results Highlights:- Overall operation was stable, with total revenue of RMB2,032 million (2023: RMB2,087 million).- Net property income stood at RMB1,445 million (2023: RMB1,475 million).- As at 31 December 2024, the overall occupancy rate of the properties was 84.5%, which is well in line with the previous year.- The Manager has partially waived the manager’s fees to mitigate the impact of the economic downturn on the REIT’s performance- The final distribution to the Unitholders for the period will be approximately RMB0.0254, equivalent to HK$0.0275. Distribution per Unit for the year will be approximately RMB0.0625, equivalent to HK$0.0680. Distribution yield is 7.08% per Unit for the year.- To enhance the REIT’s financial flexibility, the distribution ratio for the period from 1 July 2024 to 31 December 2024 has been adjusted to 90%, resulting in an overall full-year distribution ratio reaching approximately 96%.Guangzhou International Finance Center (GZIFC):- Operating revenue of the GZIFC complex was RMB1,008 million, accounting for 49.6% of the REIT’s total revenue.- The office building of GZIFC successfully renewed leases with a number of quality tenants, with a renewal rate of more than 80% achieved for the year.- Newly introduced brands to the GZIFC Shopping Mall which recorded a year-on-year increase in sales of more than 15% as compared with the existing brands, leading to a 7.4% increase in annual customer flow as compared with the same period last year. GZIFC Shopping Mall recorded a high occupancy rate of 98.3% as at the end of the year, which aligns favourably with the previous year.- The average occupancy rate of Four Seasons Hotel and Ascott Serviced Apartments recorded increases of 1.6 percentage points and 0.3 percentage point, respectively, with the annual revenue of the Apartments reaching a record high.Yuexiu Financial Tower:- Yuexiu Financial Tower recorded operating revenue of approximately RMB362 million, with the occupancy rate at 83.7%.- Successfully renewed leases for more than 26,000 sq.m. for the year, achieving a renewal rate of more than 60%, which contributed to the continuous improvement in the tenant structure.Proactive Management of Financing Risk and Effective Stabilisation of Financing Cost- With regard to the 5-year bonds of HK$1.12 billion, the 3-year syndicated loan of HK$4.8 billion, and the remaining portion of the 3-year syndicated loan of HK$1.2 billion, all due in 2024, the Manager obtained a short-term loan of RMB530 million, a 3-year loan of HK$1.12 billion, a 3-year loan of RMB2.8 billion, and a 3-year HK$1,805 million equivalent HKD/RMB loan during the year, to refinance the maturing loans so as to ensure effective monitoring of liquidity risk.- Taking advantage of the position of the RMB interest rate market, the Manager continued to research various financing instruments and actively adjusted the financing structure in order to minimise the impact of the interest rate market on the operating results of Yuexiu REIT. A total of over RMB4.5 billion in loans were obtained in February and December 2024 to refinance offshore HKD floating rate loans, hence, the overall financing costs of Yuexiu REIT have been effectively reduced.- While maintaining appropriate floating rate exposure, the Manager proactively adjusted the financing structure to minimise the impact of the interest rate market. At the end of 2024, the overall interest rate of Yuexiu REIT’s financing was 4.16% per annum, representing a decrease of 58 basis points from 4.74% at the beginning of the year; the average interest payment rate for the year was 4.53%, representing a year-on-year decrease of 7 basis points from 4.60% in 2023.- The Manager adjusted the financing structure and timely used foreign exchange hedging tools at a reasonable cost to monitor foreign exchange exposure, with the proportion of RMB financing rising from 39% at the beginning of 2024 to 60% at the end of the year.Mr. LIN Deliang, Chairman, Chief Executive Officer and Executive Director of Yuexiu REIT, said, "China faced a series of macroeconomic challenges in 2024, including insufficient demand, weak consumption and an ongoing downturn in investments. In the face of operating pressure, the Manager has nonetheless remained firmly confident, strengthening risk management, formulating asset management strategies based on a thorough assessment of the actual situation, and making every effort to stabilize operating fundamentals. Specifically, for office buildings, the Manager increased the supply of furnished units to meet market demand, and successfully introduced a number of quality tenants, thereby effectively shortening the business solicitation cycle. For retail shopping malls, the Manager introduced emerging popular brands, while at the same time boosting customer flow and consumption by organising activities with diverse themes. For hotels, the Manager formulated flexible pricing strategies to seize market share and enhance the reputation of their catering facilities. As for the specialised market, the Manager helped boost tenant sales by tapping multiple channels, which facilitated the steady recovery of both rental levels and occupancy rates. Through such effective asset management efforts, the Manager has taken full advantage of favourable policies and market opportunities, and effectively secured the operating income for Yuexiu REIT during the year, even though high interest rates weakened overall distribution”Guangzhou International Finance Center (GZIFC)GZIFC took a leading position in terms of tenant loyalty and market competitiveness among peers with its good tenant structure and supportive service system. This year, the office building component of GZIFC prioritised occupancy stability and successfully renewed leases with several quality tenants under the “one distinctive policy for each key customer” strategy, achieving a renewal rate of over 80% for the year, thus effectively securing high-quality customer resources. To match the market demand, GZIFC launched small- and medium-size furnished units with a total area of approximately 7,200 sq.m., of which more than 80% were rented out within the year. During the year, GZIFC enabled two renowned law firms and an investment company to expand their existing lease areas by more than 3,800 sq.m. in aggregate, and introduced quality new tenants to take up more than 5,000 sq.m.. The occupancy rate of the office building of GZIFC was 85.3% at the end of the period, which is well in line with the previous year.During the year, the retail shopping mall GZIFC Shopping Mall actively rationalized its brand portfolio and optimized the tenant structure, introducing new merchants such as bakeries, fast food chains, high-end cafes and trendy snack shops to address the demand for business and dining convenience. Newly introduced brands recorded a year-on-year increase in sales of more than 15% as compared with the existing brands, effectively boosting the sales of the shopping mall. GZIFC Shopping Mall also organised a series of activities which have gained tremendous popularity, including its 8th anniversary celebration event, the “Wandering Acquaintance Festival” summer programme, and the exclusive joint activities of The Phantom of the Opera - Guangzhou Station, staged at the Guangzhou Opera House. By doing so, GZIFC Shopping Mall has activated the scene atmosphere and attracted customer traffic, leading to an 7.4% year-on-year increase in annual customer flow. GZIFC Shopping Mall recorded a high occupancy rate of 98.3% at the end of the period, also well in line with the previous year.In 2024, the average occupancy rate of Four Seasons Hotel reached 81.5%, representing a year-on-year increase of 1.6 percentage points. The average room rate was RMB2,136, representing a year-on-year decrease of 4.6%. By formulating flexible pricing strategies and capitalising on the market demand from the international trade fairs and holiday economy, Four Seasons Hotel has seized a share of the high-end market. The revenue per available room (RevPAR) was RMB1,740, and the RevPAR competitive index of the hotel was 114.8, maintaining a dominant position among major hotel competitors for the eleventh consecutive year. Moreover, the Chinese restaurants of Four Seasons Hotel have won multiple Michelin awards. Yu Yue Heen retained its title of “one Michelin star” restaurant in Guangzhou, CATCH was awarded the 2024 “Michelin Guide Selected Restaurant (Plate Award)” in Guangzhou, and the Chinese Executive Chef won the 2024 “Michelin Guide Young Chef Award” in Guangzhou.In 2024, the average occupancy rate of Ascott Serviced Apartments reached 90.5%, representing a year-on-year increase of 0.3 percentage point. The average room rate was RMB1,119, representing a year-on-year increase of 0.1%. The RevPAR was RMB1,013, representing a year-on-year increase of 0.5%, and the RevPAR competitive index reached 140, maintaining a high level among competing apartments. By accurately interpreting the changing trends of its customers, and particularly the long-stay needs of its core customer groups, the Apartments’ long-term rental business has achieved a renewal rate of nearly 50%. Meanwhile, as the rise in inbound foreign tourists led to an increase in the number of short-stay customers, annual revenue has hit a record high. Moreover, the Apartments have ranked first both in operating revenue and gross operating profit (GOP) in Ascott China for nine consecutive years since 2016.Yuexiu Financial TowerYuexiu Financial Tower successfully renewed leases for more than 26,000 sq.m. for the year, achieving a renewal rate of over 60%. To enhance the attractiveness of its products, Yuexiu Financial Tower proactively analysed the needs of potential customers and launched furnished units with a total area of approximately 14,000 sq.m. for the year, of which more than 90% were successfully rented out within the year, effectively shortening the business solicitation cycle and supporting rental levels. The newly introduced tenants included a major domestic law firm and four premium financial enterprises, which contributed to the ongoing improvement in tenant structure. For tenants who had significant reductions in rental costs, Yuexiu Financial Tower successfully retained six such tenants upon expiration of their leases by employing such strategies as relocating to another floor or reducing the leased area. This reflected the business solicitation team’s ability to take a pragmatic approach. Yuexiu Financial Tower recorded an occupancy rate of 83.7% at the end of the year, representing a year-on-year decline of 4.8 percentage points.White Horse BuildingDuring the year, White Horse Building continued to consolidate its position as the “China Brand Apparel International Trading Center”, and successfully renewed leases with existing customers as well as introduced several quality tenants. The occupancy rate of White Horse Building climbed to 97.1% at the end of the year, a new five-year high, while revenue grew by 12.1% year on year. Together with its 11 original premium apparel brands, White Horse Building participated in the 2024 China International Fashion Fair. It held the 2024 Guangzhou Baima Garment Market Procurement Festival, and made its debut at the 2024 China (Guangzhou) International Fashion Industry Conference, artfully incorporating elements of the 2025 National Games and inviting sports champions and elites to visit the stores. It also took the initiative to explore new digital models and promote the construction of a smart market. During the year, it officially launched the Baima Smart Selection platform, on which 276 brands have been introduced so far. At the same time, it utilised technologies such as AI fitting, VR shopping and live broadcasting to create the second performance growth curve for online transactions.Fortune Plaza and City Development PlazaFortune Plaza introduced many quality tenants during the year, including a leading daily necessities company, thus further optimising its tenant structure. The business solicitation team seamlessly introduced a technology company to take up the whole floor vacated by a tenant who did not renew its lease, and successfully renewed leases with many quality tenants, including an international investment company with a petrochemical industry background. Fortune Plaza recorded an occupancy rate of 92.4% at the end of the year, well in line with the previous year. During the year, City Development Plaza successfully introduced a government-owned sports services agency, which not only improved the occupancy rate, but also expanded its reputation in the industry. During the year, City Development Plaza renewed leases with three quality tenants for a total of approximately 2,300 sq.m., and the occupancy rate climbed to 92.7%, representing a year-on-year increase of 4 percentage points.Victory PlazaVictory Plaza actively stabilized the sales of its anchor tenant “Uniqlo” Victory Plaza Shop, with the number of customers visiting the shop increasing by 4% year-on-year, and its annual sales ranked first in China once again. The mall’s customer flow for the year increased by 5% year on year as events with diverse themes were organized jointly with IKEA, Sleep Hub, Book Center, Information Times, etc. It also introduced two branded aesthetic medicine companies to further enrich the consumption scenarios. Victory Plaza recorded a newly contracted area of more than 1,300 sq.m. and renewed leasing area exceeded 1,200 sq.m. for the year, with an occupancy rate of 96.6%, representing a year-on-year increase of 3.1 percentage points.Shanghai Yue Xiu TowerShanghai Yue Xiu Tower launched furnished products to meet tenants’ need for easy occupancy, and recorded a newly contracted area of more than 9,900 sq.m. for the year, the largest since 2020. In order to improve the risk resilience of its tenant structure, Shanghai Yue Xiu Tower actively introduced certain quality tenants from the commercial services and information technology sectors during the year, including a renowned new energy vehicle joint venture and a well-known joint venture that provides digital technology services. Owing to the lease renewal plans formulated in advance, which are based on the principle of “one distinctive policy for each key customer”, Shanghai Yue Xiu Tower achieved a renewal rate of over 70%, and the occupancy rate was 89.5% at the end of the year, corresponding well with the previous year.Wuhan PropertiesWuhan Yuexiu Fortune Centre continued to promote the renovation and adjustment of vacant units and offered more small- and medium-size products, which drove the newly contracted area to over 27,000 sq.m. for the year, and a number of quality tenants were introduced as well. More than 19,000 sq.m. of leasing area were renewed with certain outstanding enterprises during the year, including a top 500 liquor enterprise in China, a top 500 dairy company in China, and the Hubei branch of a global leading elevator company, leading to a renewal rate of more than 60%.Starry Victoria Shopping Centre continued to optimise different business formats for its portfolios. By tapping deeply into emerging brands that are popular among consumers, it enriched the range of children-related amenities and activated the overall retail atmosphere. The shopping mall recorded a 21% year-on-year increase in customer flow and an 8% year-on-year sales increase for the year. The business solicitation team successfully retained five merchants with large leasing areas, and engaged new tenants in advance to seamlessly take up expiring areas. The newly contracted area exceeded 6,600 sq.m., and the occupancy rate was 90% at the end of the year, which aligns favourably with the previous year.Hangzhou VictoryHangzhou Victory successfully renewed leases for more than 10,000 sq.m., including with a local internet technology company from Zhejiang, and the Zhejiang branch of a provincial state-owned enterprise from Shanxi Province. Hangzhou Victory introduced a number of quality tenants during the year, including a biotech company, an asset management company, and a Fortune 500 construction company. Hangzhou Victory maintained a high occupancy rate of 97.7% at the end of the year.ProspectsThe global environment remains complex and challenging, with increasing geopolitical uncertainties and growing trade concerns. While economic growth and inflation have slowed in the United States, a wait-and-see sentiment has prevailed toward the pace of interest rate cuts by the US Federal Reserve. Moreover, the rates on the US dollar and Hong Kong dollar are expected to remain at high levels for a certain period of time. Regarding China, it regards economic stability as its top priority, hence has adopted a moderately loose monetary policy to boost the economy, and vigorously stimulated investment and consumption to expand domestic demand. The RMB interest rates remain at a relatively low level. New quality productive forces are growing at an accelerated pace and are expected to create new industrial momentum.The Manager will maintain a prudent and optimistic stance, and implement positive and pragmatic operating strategies to manage risks proactively, in an effort to generate stable returns for the Unitholders. In terms of asset management, the Manager will keep abreast of economic developments and trends and implement proactive, reasonable and flexible leasing strategies, while at the same time integrating the concepts of low-carbon, green, intelligent, and healthy practices into all aspects of business operations. By continuously reviewing the growth potential of the asset portfolio, the Manager will be able to keenly seize potential investment opportunities that emerge, further enhance the competitiveness of the portfolio, and promote sustainable development.In terms of financing management, in light of rising foreign interest rates and the relatively low value of the RMB, the Manager will continue to examine and make reasonable adjustments to its financing structure based on expectations about market developments. It will also introduce low-cost RMB financing through various RMB financing channels to seek more favourable financing costs to offset interest rate risk.With respect to renovation projects, the Manager is planning to invest primarily in asset appreciation projects for GZIFC, Yuexiu Financial Tower, White Horse Building, Fortune Plaza, City Development Plaza, Shanghai Yue Xiu Tower, Wuhan Yuexiu Fortune Centre, and Hangzhou Victory, to preserve the value and promote the appreciation of these properties, as well as ensure their sound operation.About Yuexiu Real Estate Investment TrustYuexiu Real Estate Investment Trust ("Yuexiu REIT") was listed on the Hong Kong Stock Exchange of Hong Kong Limited on 21 December 2005 and is the first listed real estate investment trust only investing in properties in the People's Republic of China (the "PRC") in the world. The current property portfolio comprises ten high quality properties, namely Guangzhou International Finance Center, White Horse Building, Fortune Plaza, City Development Plaza, Victory Plaza, Yuexiu Financial Tower in Guangzhou, Yuexiu Tower in Shanghai, Wuhan Properties in Wuhan (including Wuhan Yuexiu Fortune Centre and Starry Victoria Shopping Centre), Victory Business Centre in Hangzhou and Yuexiu Building in Hong Kong, with a total area of ownership of approximately 1.184 million sq.m. All properties are located in the central business district of Guangzhou, Shanghai, Wuhan, Hangzhou and Hong Kong respectively. The categories of the properties include Grade-A offices, commercial complexes, retail business, hotel, serviced apartments and professional clothing market etc.For media enquiries:Strategic Financial Relations LimitedVicky LeeTel: +852 2864 4834Email:sprg_yx@sprg.com.hkPhoebe LeungTel: +852 2114 4172Lilia YangTel: +852 2864 4833Websitehttp://www.sprg.com.hk Copyright 2025 ACN Newswire via SeaPRwire.com.

SINGAPORE, Mar 14, 2025 - (ACN Newswire via SeaPRwire.com) - Themed “Airport Operations for Tomorrow”, inter airport Southeast Asia 2025 (IASEA) curated a lineup of conference sessions and the latest innovations to drive conversations on what a sustainable tomorrow looks like for Asia’s airport operations and ground handling industry.From 25-27 March 2025, the 8th edition of IASEA is expected to gather over 4,000 attendees, 150 notable global brands and some 50 industry experts as speakers at the iconic Marina Bay Sands, Singapore.IASEA 2025 Conference – Mastermind keynotes on shaping the future of airportsSetting the stage for this conference on day 1 (25 March) is the fireside chat titled Reshaping Global Airport Operationsby Patrick Ky, CEO, International Centre for Aviation Innovation (ICAI), an industry leader with nearly three decades worth of aviation experience. Moderated by Glory Wee, Senior Director, Aviation Development Group, Civil Aviation Authority Singapore (CAAS), the session will discuss solutions that improve operational efficiencies and lay the foundation for resilient and future-proof airports.“Globally, Asia Pacific takes the lead as the region with 60% of the total number of airport projects, and the region’s carriers handled 31 million international passengers, which was a 19.8% increase in November 2024 compared to November 2023. Recognising the need to address ground and airspace capacity constraints and manpower shortages, while keeping up with increasing passenger footfall in the region, the International Centre for Aviation Innovation was established in Singapore,” said Patrick Ky, CEO, International Centre for Aviation Innovation (ICAI). “ICAI focuses on research and development projects for next-generation air navigation services, automated and smart airports, and unmanned aviation systems and sustainable aviation. At the upcoming IASEA 2025, I’m excited to share insights into new innovations that will be tested in Singapore before being deployed globally.”This will be followed by keynote sessions led by two of the top 5 airports according to Skytrax’s World Top Airport List 2024. The first keynote, Airports of The Next Decade & Beyond with Shinichiro Motomiya, General Manager, Narita International Airport Corporation, will provide insights into the master plan of Narita International Airport – a case study of the airport of the future, and Airport in Brief: Incheon Airport with Soonil Hwang, Deputy Director of Fast Travel Team, Incheon International Airport Corporation, will cover a deep dive into the airport’s Digital Transformation Project.Shinichiro Motomiya, General Manager, Narita International Airport Corporation, shared, “To ensure that airports can keep up with this surging demand in air traffic today, it’s become paramount for the industry to accelerate conversations on what will make airports sustainable, improve operational resilience and passenger experience. Takethe ‘New Narita Airport’ expansion project as a case in point, which we will share about during the keynote session. The airport development project for the 2030s is looking at consolidating terminals and building a new cargo area to allow for the expected increase of passenger capacity from 57 to 75 million and cargo capacity from 2.4 to 3.5 million tons atNarita International Airport.”Soonil Hwang, Deputy Director of the Fast Travel Team, Incheon International Airport Corporation commented, “We should not shun away from the use of Artificial Intelligence technologies, especially in the aviation industry. At Incheon International Airport, we believe that technology will strike a fine balance between passenger experience and operational efficiency. Hence, we’ve analysed customer demands and drawn a Persona Journey Map to design solutions around it. As we complete Phase 4 of the transformation of Incheon International Airport, it is my pleasure to share at the upcoming IASEA how we’ve identified values such as ‘Convenient Journey’ or ‘Time’ and utilised them to elevate the customer experience.”The morning of the opening day will also see Nguyen Dang Minh, Head of Airport Operations Department, Airports Corporation of Vietnam (ACV) spearhead the next keynote, Vietnam Airport Development Masterplan 2030. Vietnam stands as a leader in the aviation landscape, aiming to expand its airport network to 30 airports by 2030 and a long-term vision extending to 2050 that includes upgrades to increase annual passenger capacity by over 80%. As new airports are being built and existing ones upgraded, Minh will cover the solutions needed to address challenges in ground management, security, and resource allocation that will enable airport operations to evolve alongside Vietnam’s expanding aviation network.Day 2 of the conference will open with the keynote Global Action Plan for the Prevention of Runway Incursion. With safety as a top priority for the aviation industry, and runway incursions as one of the top five high-risk categories of aviation risks, the session will be led by Mitch Fox, Director, Asia Pacific Centre for Aviation Safety, Flight Safety Foundation, who will cover recommendations from the Global Action Plan for the Prevention of Runway Incursions (GAPRI) that go beyond simple regulatory compliance. Aside from safety, efficiency and sustainability are the next priorities to drive airports of tomorrow. Brad Moore, CEO, APAC, Swissport International AG, will lead the next keynote Redefining Ground Support Excellence in Asia Pacific to examine how transformative technology, greener practices, and strategic innovation are unlocking new opportunities for ground handling – a critical backbone of the aviation system.Aside from these mastermind keynotes, other industry experts and thought leaders from the airport industry will join the conference, sharing their groundbreaking strategies for transforming terminal and ramp operations to address the challenges of today's demanding and rapidly changing aviation landscape.Some of the conference highlights include1:Using Data Analytics to Optimise Airport OperationsRethinking Passenger Flow: Unravelling the Knot of Terminal CongestionTransforming Baggage Handling: Best Practices for Modern AirportsFuture-Proofing Airport Security: Balancing Safety, Technology & Passenger ExperienceBoosting Operational Resilience: Preparing for the UnexpectedThe full list of speakers can be found here.State-of-the-art solutions at inter airport Southeast Asia exhibitionAs the reference point for the future of airports, IASEA 2025 will stand as a platform to unveil the latest aviation technologies aimed at streamlining workflows, improving sustainability and elevating operational capabilities.Automation will continue to play a pivotal role in ever-growing passenger expectations. SITA’s 2024 Baggage IT Insights reveal that 80% of airports and 66% of airlines have put touchless self-service baggage handling in place, and more investments will continue in 2025. Aligned with this transformation, industry expert Smith Detection will introduce to the Asia market the SDX 10060 XDi, a ground-breaking X-ray scanner, offering highly accurate material discrimination and substance identification based on an object’s molecular structure. Separately, biometrics and digital identity leader NEC will showcase its facial recognition technology, ranked the world’s most accurate in a benchmark test conducted by the U.S. National Institute of Standards and Technology in 2024. ADB Safegate Singapore, who recently clinched awards for Environmental Initiatives, Innovation, Safety, and Business Expansion at the Airport Technology Excellence Awards 2024, will present their award-winning airport management software.Other notable brands to expect on the exhibition floor:Aviaco GSE, CIAS, Colibri Energy, Cobus Industries, Datalogic, ewo, FAAC, Fastcharge, FibreFENCE by Fibre Net Spa, FLEX Industries, GRP Iluminacion, Honeywell, ITW GSE, Japan Radio Co., LEONARDO, Mallaghan, Mototok, NEC, OCEM Airfield, Oshkosh AeroTech, Poltrona Frau, Roypow Technology GmbH, SICK AG, ShinMaywa, Thales, TCR, TLD Asia, Toyota Industries Corporation, TREPEL and Weihai Guangtai. All registered professionals for inter airport Southeast Asia 2025 will be granted free access to exhibition and conference floors. For the latest information on inter airport Southeast Asia, please visit the event website, LinkedIn, or Facebookpages.About inter airport Southeast Asiainter airport Southeast Asia influences and accelerates the transformation of the airport industry in Asia by crafting a unique, 3-day airport trade show for the region.Every odd year, buyers and decision makers from the airports, airlines, ground handlers and the entire Airport community in Asia attend inter airport Southeast Asia to source and experience from the most diverse selection of innovations, technology and equipment for airport terminals and ramp operations.Whatever your strategy or needs - this is the place to be for business, friendship and new trends.25-27 March 2025Marina Bay Sands, Singaporewww.interairport-southeastasia.comAbout RX RX is a global leader in events and exhibitions, leveraging industry expertise, data, and technology to build businesses for individuals, communities, and organisations. With a presence in 25 countries across 42 industry sectors, RX hosts approximately 350 events annually. RX is committed to creating an inclusive work environment for all our people. RX empowers businesses to thrive by leveraging data-driven insights and digital solutions. RX is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. For more information, visit www.rxglobal.com. About RELXRELX is a global provider of information-based analytics and decision tools for professional and business customers. RELX serves customers in more than 180 countries and has offices in about 40 countries. It employs more than 36,000 people over 40% of whom are in North America. The shares of RELX PLC, the parent company, are traded on the London, Amsterdam and New York stock exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX.*Note: Current market capitalisation can be found at http://www.relx.com/investorsMedia contacts (on behalf of RX)Carolyn Kok (carolyn.kok@fifthring.com)Chloe Lim (chloe.lim@fifthring.com) Copyright 2025 ACN Newswire via SeaPRwire.com.

HONG KONG, Mar 17, 2025 - (ACN Newswire via SeaPRwire.com) - CITIC Resources Holdings Limited (hereinafter referred to as the CITIC Resources or the Company, or the Group when its subsidiaries are included; Stock Code: 1205.HK) has announced its annual results for the year ended 31 December 2024 (hereinafter referred to as the “Year”).Stable operating results with positive outlook. Breakthrough in revenue and profit growth.In 2024, there remained uncertainties and complexity in global economic growth. Despite such challenges, the Group has taken proactive measures to manage risks and promote its steady development, and thereby accomplished remarkable results as shown by the success in achieving increases in, meeting the targets of, and making breakthrough for, both revenue and profits. During the Year, the Group recorded revenue of approximately HK$9.5 billion (2023: approximately HK$3.8 billion), representing a substantial year-on-year increase of approximately 148.3%, with adjusted EBITDA at approximately HK$2.1 billion (2023: approximately HK$2.1 billion) and profit attributable to ordinary shareholders of the Company of approximately HK$572.6 million (2023: HK$551.8 million), representing a year-on-year increase of approximately 3.8%.As at 31 December 2024, the Group’s gearing ratio and interest-bearing debt ratio decreased to approximately 35.2% and 15.5%, respectively, and the return on net assets was approximately 7.2%, indicative of a strong and healthy overall asset status. The Group proposes to distribute a final dividend of HK2.6 cents per ordinary share for 2024 (2023: HK2.5 cents).Oil and gas business operated smoothly. Trading business merged as a new growth engine.During the Year, the Group’s oil and gas business achieved an operating output of approximately 17.6 million barrels and an equity production of approximately 9.5 million barrels, representing a year-on-year increase of approximately 3.2% and 3.0% respectively. The oil and gas business achieved an annual revenue of approximately HK$1.4 billion (2023: approximately HK$1.5 billion), and contributed approximately HK$338.0 million to the net profit attributable to the ordinary shareholders of the Company (2023: approximately HK$685.1 million). With revenue reaching approximately HK$5.9 billion (2023: -), oil and gas trading business has emerged as a key driver of the Group’s new development.Focusing on technological innovation, the Group has significantly enhanced the efficiency of exploration and development management across its existing oilfields and further explored their potential. Moreover, with meticulous reservoir management, the Group has optimized reserve development, thereby achieving notable increases in both reserves and production output. Meanwhile, the trade and marketing department, applying strategies suitable for the respective local markets, coordinated with various oil field projects to raise the sales price of proprietary oil, expand the export channels of proprietary oil of Yuedong oilfields and prompt existing customers to increase crude oil prices. In anticipation of the adverse impact of the completion of the North American high-sulfur oil pipeline, the trade and marketing department managed to secure the future income through concluding a 3-year crude oil sales bidding of Seram oilfields. The Group will continue to actively explore new crude oil sales channels and strategies of KBM oilfields, in order to enhance the market value of proprietary oil in a diversified manner.Non-oil-and-gas business achieved a turnaround for profits. Promoted quality and efficiency enhancement of joint venture projects.During the Year, the Group’s non-oil-and-gas business achieved an annual operating income of approximately HK$2.2 billion (2023: HK$2.4 billion) and contributed approximately HK$198.2 million to the net profit attributable to the ordinary shareholders of the Company (2023: net loss of approximately HK$261.2 million) and achieving a turnaround. This improvement was driven by several key initiatives, including the successful completion of the equity transfer of AWC to Alcoa Corporation, which yielded a net profit attributable to the Company’s ordinary shareholders of approximately HK$114.4 million. The Group also made steady progress in facilitating the capacity recovery of Portland Aluminium Smelter. Through strategic measures such as entering into a new hedging agreement with independent electricity suppliers, the Group capitalized on the favorable market conditions resulting from the rebound in aluminium prices. These efforts not only enhanced operational efficiency but also further reduced costs, positioning the business for sustained growth. In addition, the Group fully exercised its shareholder rights, and actively coordinated resources to assist CMJV’s coal business in resolving capacity bottleneck issues.Mr. Hao Weibao, Executive Director, Chairman and Chief Executive Officer of CITIC Resources, said, “In 2025, the external environment remains highly uncertain, presenting both challenges and opportunities. The Group will continue with the business strategy of ‘consolidating core existing business and expanding the dual drive in investment and trading’ to increase reserves and output, boost the scale of production and sales, continue to introduce new processes and technologies, thereby empowering the development of the Group through technological innovation. In addition, the Group will steadily broaden the oil and gas trading business, be prepared to obtain first-hand resources from crude oil producers in the future and be ready to engage in the ‘take-position’ physical cargo oil trading business. The Group will also focus on developing ‘small-yet-exemplary’ resources projects, and make efforts on operation upgrades in different aspects, such as pushing forward with green electricity transformation, expanding further into the industrial chain, and exploring cutting-edge raw aluminum manufacturing. Our aim is to continue to develop the Group, be recognized as a professionalized listed company in the resource and energy sector, and to create long-term value and satisfactory returns for shareholders and stakeholders.”For details of CITIC Resources’ 2024 annual results, please refer to the Group’s annual results announcement on the Hong Kong Stock Exchange and the Group’s website.About CITIC Resources Holdings Limited (Stock Code: 1205.HK)CITIC Resources Holdings Limited has been listed on the Hong Kong Stock Exchange since 1997. Principal activities of CITIC Resources include the exploration, development and production of oil and coal, investments in bauxite mining, alumina refinery, aluminium smelting and oil and gas trading. CITIC Limited is the largest shareholder with about 59.5% interest in CITIC Resources. Copyright 2025 ACN Newswire via SeaPRwire.com.

BETHESDA, MD, Mar 14, 2025 - (ACN Newswire via SeaPRwire.com) - Gain Therapeutics, Inc. (Nasdaq: GANX) (“Gain”, or the “Company”), a clinical-stage biotechnology company leading the discovery and development of the next generation of allosteric small molecule therapies, today announced the dosing of the first participant with Parkinson’s disease (PD) in its Phase 1b clinical trial of GT-02287, the Company’s lead allosteric small molecule in development for the treatment of PD with or without a GBA1 mutation.“Initiation of dosing in our Phase 1b clinical trial represents an important step in the clinical development of GT-02287 and in Gain’s mission to deliver a disease-modifying therapy to people with Parkinson’s disease. We look forward to continued enrollment and anticipate an interim analysis from the towards the end of 2Q 2025,” said Gene Mack, President and CEO of Gain Therapeutics. The Phase 1b open-label, multi-center trial is designed to evaluate the safety and tolerability of GT-02287 in people with GBA1-PD and idiopathic PD. Secondary endpoints include pharmacokinetics, GCase modulation, levels of GCase substrates, and other biomarkers in plasma and cerebrospinal fluid. The trial will enroll up to 20 participants who will receive GT-02287 daily for three months. Interim data from the Phase 1b trial are anticipated at the end of 2Q 2025.The Phase 1b trial follows Gain’s successful Phase 1 study in healthy volunteers completed during Q3 2024, in which GT-02287 demonstrated a favorable safety and tolerability profile as well as plasma and CNS exposures in the projected therapeutic range. Importantly, the Phase 1 study also showed significant target engagement of GT-02287 demonstrated by a statistically significant increase in glucocerebrosidase (GCase) activity that was >50%.For more information on the Phase 1b clinical trial, visit: https://clinicaltrials.gov/study/NCT06732180 About GT-02287Gain Therapeutics’ lead drug candidate, GT-02287, is in clinical development for the treatment of Parkinson’s disease (PD) with or without a GBA1 mutation. The orally administered, brain-penetrant small molecule is an allosteric enzyme modulator that restores the function of the lysosomal enzyme glucocerebrosidase (GCase) which becomes misfolded and impaired due to mutations in the GBA1 gene, the most common genetic abnormality associated with PD, or other age-related stress factors. In preclinical models of PD, GT-02287 restored GCase enzymatic function, reduced aggregated α-synuclein, neuroinflammation and neuronal death, and improved motor function and cognitive performance. Additionally, GT-02287 significantly reduced plasma neurofilament light chain (NfL) levels, an emerging biomarker of neurodegeneration.Compelling preclinical data in models of both GBA1-PD and idiopathic PD, demonstrating a disease-modifying effect after administration of GT-02287, suggest that GT-02287 may have the potential to slow or stop the progression of Parkinson’s disease.Gain’s lead program in Parkinson’s disease has been awarded funding support early in its development from The Michael J. Fox Foundation for Parkinson’s Research (MJFF) and The Silverstein Foundation for Parkinson’s with GBA, as well as from the Eurostars-2 joint program with co-funding from the European Union Horizon 2020 research and Innosuisse – Swiss Innovation Agency.About Gain Therapeutics, Inc.Gain Therapeutics, Inc. is a clinical-stage biotechnology company leading the discovery and development of next generation allosteric therapies. Gain’s lead drug candidate, GT-02287 is currently being evaluated for the treatment of Parkinson’s disease with or without a GBA1 mutation. Results from a Phase 1 study of GT-02287 in healthy volunteers demonstrated favorable safety and tolerability, plasma exposure in the projected therapeutic range, CNS exposure, and target engagement and modulation of GCase enzyme.Gain’s unique approach enables the discovery of novel, allosteric small molecule modulators that can restore or disrupt protein function. Deploying its highly advanced Magellan™ platform, Gain is accelerating drug discovery and unlocking novel disease-modifying treatments for untreatable or difficult-to-treat disorders including neurodegenerative diseases, rare genetic disorders and oncology.Forward-Looking StatementsThis release contains “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are typically preceded by words such as “believes,” “expects,” “anticipates,” “intends,” “will,” “may,” “should,” or similar expressions. These forward-looking statements reflect management’s current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, they give no assurance that such expectations will prove to be correct or that those goals will be achieved, and you should be aware that actual results could differ materially from those contained in the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, statements regarding: the development of the Company’s current or future product candidates including GT-02287; expectations regarding the timing of results from a Phase 1b clinical study for GT-02287; expectations regarding the timing of patient enrollment for a Phase 1b clinical study for GT-02287; and the potential therapeutic and clinical benefits of the Company’s product candidates. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the Company’s business in general, please refer to the Company’s Form 10-K for the year ended December 31, 2023 and Form 10-Q for the quarter ended September 30, 2024. All forward-looking statements are expressly qualified in their entirety by this cautionary notice. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. We have no obligation, and expressly disclaim any obligation, to update, revise or correct any of the forward-looking statements, whether as a result of new information, future events or otherwise.Investor Contacts:Apaar Jammu and Chuck Padalaajammu@gaintherapeutics.comchuck@lifesciadvisors.com Media Contacts:Russo PartnersNic Johnson and Elio Ambrosionic.johnson@russopartnersllc.comelio.ambrosio@russopartnersllc.com(760) 846-9256 Copyright 2025 ACN Newswire via SeaPRwire.com.