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DL Holdings’ Interim Net Profit Surges Over 25-Fold as Digital Finance Strategy Accelerates Implementation
01 Performance Highlights and Financial Results
The Group’s business continues to display a diversified structure, with revenue contributions from each segment clearly defined. DL’s licensed business — the Financial Services segment — recorded revenue of approximately HK$75.62 million, representing a 56% year-on-year increase. This segment’s revenue primarily came from: financial advisory and investment management service fees of approximately HK$23.66 million from DL Securities; securities trading commissions and brokerage income of approximately HK$8.34 million; and insurance brokerage commissions of approximately HK$41.25 million.
DL Securities made significant progress in business innovation and strategic expansion. Strategically, DL Securities has focused on advancing innovation in cross-border financial services — establishing a professional cross-border M&A team to provide one-stop financial service solutions for outbound companies, and forming strategic partnerships with multiple international financial centers to build a global service network. On July 25, 2025, DL Securities submitted an application to the SFC to vary its existing Type 1 (dealing in securities) and Type 4 (advising on securities) licenses to include regulated virtual asset trading and advisory activities (license upgrade), which has now entered its final stage of approval. Management expects that by 2027, DL Securities’ number of clients will increase to 200,000, and AUM will grow to HK$50 billion.
The family office and wealth management business, as one of the Group’s core segments, delivered stable performance during the reporting period and achieved substantial breakthroughs and scalable growth. Both client AUM and management fee income rose significantly. For the six months ended September 30, 2025, DL Family Office — including associated insurance brokerage commissions — recorded total revenue of approximately HK$68.07 million. Looking ahead, the Group expects the number of family office clients to increase to 200 by 2027 and AUM to exceed HK$78 billion (approximately US$10 billion). Currently, DL Holdings’ total assets under management and advisory exceed HK$27.3 billion (approximately US$3.5 billion). As one of Hong Kong’s earliest government-recognized multi-family offices, DL is also the only platform whose business footprint covers Chinese Mainland, Hong Kong SAR, Singapore, Japan, and the United States.
Since July 2025, the Group has raised a total of approximately HK$1.834 billion through two rounds of equity financing, convertible bond issuance, management capital injection, and other strategic investments. Following these fundraisings, the Group’s net assets have now reached nearly HK$3 billion, providing strong capital support for the expansion and technological advancement of its digital finance business.
02 Strategic Expansion and Business Breakthroughs
Supported by substantial market confidence and capital resources, DL Holdings has rapidly advanced its strategic transformation over the past six months. The Group has achieved significant progress across four key areas — asset digitalization, digital asset investment, global ultra-luxury real estate investment, and global market expansion — demonstrating its forward-looking strategy and execution capability in the digital finance era.
In the area of asset digitalization, blockchain technology is redefining asset structures. Physical assets valued at HK$500 million — including the DL Tower — have initiated the tokenization process, with HK$60 million already completed. The tokenization of the HK$312 million equity stake in the U.S. ultra-luxury real estate project ONE Carmel has created an innovative shareholder-return model. The Company plans to distribute special dividends to shareholders in future years based on the digital rights generated from these tokenized assets. In addition, the Group has completed the tokenization of approximately HK$40 million in equity from technology companies such as ByteDance and Kraken.
In the digital asset investment sector, the Group continues to expand its commitment. In computing power, HK$320 million has been invested to complete the procurement of the first batch of high-performance mining machines, and an additional HK$800 million digital asset investment roadmap has been planned — including HK$560 million for computing power and HK$240 million for gold-backed digital assets. Cooperation with Antalpha has advanced further: the first phase of gold-backed token investment of nearly HK$40 million has been completed, and thousands of mining machines are currently being deployed. Continued investment in NeuralFin has also shown strong results — the platform’s valuation has reached HK$546 million, and it has begun preparations for a U.S. listing, further strengthening the Group’s digital finance ecosystem.
In global ultra-luxury real estate investment, after eight years of dedicated development, DL’s U.S. real estate project ONE Carmel in California has obtained the White Paper issued by the California Department of Real Estate, indicating that the project has passed more than 300 stringent government reviews and completed full certification of land planning, infrastructure, and homeowner-protection systems. The project’s land valuation has exceeded HK$1.56 billion (approximately US$200 million), and the total development value of the Carmel project is expected to exceed HK$15.6 billion (approximately US$2 billion).
In global market expansion, the Group has made notable achievements. DL Holdings subscribed up to US$12 million in newly issued shares of Swiss-listed Youngtimers AG, becoming its largest institutional shareholder and successfully expanding its business network to Zurich and Sydney. These achievements provide a strong foundation for the Group’s future development and its ability to deliver enhanced shareholder returns.
03 Innovative Returns and Value Sharing
DL Holdings firmly believes that corporate value creation must be shared with shareholders. The Group is actively applying innovative digital-finance solutions to convert physical assets into direct shareholder benefits. For its landmark Hong Kong property, the DL Tower — valued at up to HK$500 million — the Group plans to distribute special dividends valued at up to HK$60 million to eligible shareholders through compliant tokenization. At the same time, DL will tokenize its HK$312 million (approximately US$40 million) equity stake in the ONE Carmel project in California and plans to distribute this as special dividends to shareholders in the future. These initiatives allow shareholders to directly hold on-chain assets and share the appreciation value of top-tier real estate projects — establishing a new model of shareholder return.
To demonstrate strong confidence in the Company’s long-term development, controlling shareholders Mr. Andy Chen and Ms. Crystal Jiang have voluntarily committed to a 12-month lock-up period during which no shares will be sold. This aligns with the Company’s talent-incentive strategy — including the completed issuance of 90 million shares as free grants, the buyback and placement of 30 million shares into the employee trust, and the planned market repurchase and employee incentives for an additional 40 million shares. In total, 160 million shares have been allocated to incentivize the core team, all sourced from existing shares or market repurchases, ensuring zero dilution for existing shareholders — achieving deep alignment of interests among shareholders, the Company, and employees.
From tokenized dividends to voluntary lock-ups by major shareholders, from innovative incentive mechanisms to collective value sharing, every step taken by DL Holdings reflects its commitment to “growing together with shareholders.” The Group is dedicated to building a transparent, mutually beneficial, and sustainable new investment ecosystem, enabling investors to share the tremendous potential of digital finance and making investing easier for everyone.
Mr. Andy Chen, Chairman and Chief Executive Officer of DL Holdings Group, stated: “Most investors remain far removed from top-tier investment opportunities worldwide. This structural gap motivates DL to push forward a profound transformation: by leveraging our channel advantages and capital strength, we allocate world-class assets — from premium real estate to high-quality private equity — across the globe. Through RWA tokenization, these scarce assets are ‘broken down’ and delivered securely and efficiently to every investor who trusts us, through platforms such as DL Securities and NeuralFin. This is the path toward financial equality and inclusive finance — and it is DL’s solemn commitment to the market.”
Hashtag: #DLHoldings
The issuer is solely responsible for the content of this announcement.
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Alibaba Group Debuts “Wonder on Ice,” an Immersive AI Experience at Milan’s Sforza Castle for Milano Cortina 2026
Set against the historic backdrop of the Sforza Castle and the commercial artery of Via Dante, AWI turns one of Milan’s most recognizable public spaces into a live demonstration of how digital technologies can intersect with culture, commerce and consumer engagement. Powered by Alibaba’s advanced technology stack, the showcase illustrates how artificial intelligence can enable immersive, interactive digital retail experiences that respond dynamically to individual preferences.
“Alibaba and the IOC share a simple belief together: technology should enable the Olympic Games to be more exciting, accessible, sustainable and connected,” said Joe Tsai, Chairman of Alibaba Group. “With the power of AI, we are moving from “Cloud Olympics” toward “Intelligent Olympics”, as AI helps us work better, make smarter decisions, and connect more meaningfully.”
“I’m delighted to be here at the Alibaba Group Showcase, celebrating nine years of our partnership which represents one of the most significant technological transformations in Olympic history. Building on innovations delivered at recent Games, Milano Cortina 2026 represents a major step forward in cloud-based, AI-enabled broadcasting and operations, setting a new benchmark for future editionsn. Together with Alibaba, we’re not only ensuring the Games remain efficient and sustainable, but also remain engaging through sports media technology to audiences, athletes and fans worldwide”, said Kirsty Coventry, President of the International Olympic Committee (IOC)”
A Personalized Journey Guided by AI
At the core of the installation is an AI-guided journey that brings virtual retail into a physical environment. Upon entry, visitors are invited to share simple preferences—such as their favorite Milano Cortina 2026 sport—with an AI agent, which uses these inputs to curate a personalized journey throughout the space. Visitors may also choose to have their photo taken to generate a real-time digital avatar, further tailoring the journey to the individual.
The AI agent then acts as a virtual stylist, interacting with visitors and offering tailored recommendations for clothing, fragrance, and makeup. As participants make selections, the experience evolves continuously, demonstrating how AI-enabled retail can move beyond static product catalogues towards adaptive, interactive experiences. Each journey culminates in a personalized AI-generated video in which the visitor’s avatar becomes the central character in a digital gala setting.
The experience is supported by Alibaba’s latest AI and cloud technologies, including its Qwen3 series of large language and vision models, Wan 2.2 image-to-video generation model, and Taobao Vision’s immersive shopping solution, and Alibaba Cloud’s global cloud infrastructure.
Architecture Inspired by Ice and Light
Spanning 40 meters, the installation consists of two architectural elements:
- The Snow Globe, a spherical pavilion that serves as an interactive space during the day and transforms into a projection surface for AI-generated visuals in the evening
- The Crystalized Skirt Building, a sculptural structure inspired by the crystalline geometry of frost and snowflakes, which houses the immersive AI-powered virtual retail experience.
Designed with sustainability in mind, the installation uses recyclable materials and leaves no permanent footprint on the historic plaza.
AWI will be open to the public from February 7–22, 2026, during the Olympic Winter Games, and March 6–15, 2026, during the Paralympic Winter Games.
Showcasing the First AI-Generated Olympic Fan Art Collection
The opening of AWI also marked the unveiling of the results of the Alibaba Cloud AIGC Championship @ Milano Cortina 2026, the first Olympic fan engagement initiative of its kind developed in partnership with the International Olympic Committee, the Olympic Museum and the Milano Cortina 2026 Organising Committee.
Using Alibaba’s Wan video generation models, fans from around the world created original video artworks inspired by four winter sports: figure skating, short track speed skating, alpine skiing, and snowboarding.
A curated selection of the top 100 works is now being displayed on the surface of the Snow Globe. This collection represents the first AI-generated artworks to be displayed by the Olympic Museum located in Lausanne, Switzerland. Ten creators will be awarded tickets to attend the Olympic Winter Games in person.
By combining Olympic inspiration with accessible AI technology, Alibaba Wonder on Ice invites fans worldwide to go beyond spectating, allowing them to step into the Games, express their “vibe,” and join the Olympic Movement in an entirely new way.
Hashtag: #Alibaba
The issuer is solely responsible for the content of this announcement.
About Alibaba Group
Alibaba Group is a global technology company focused on e-commerce and cloud computing. We enable merchants, brands and retailers to market, sell and engage with consumers by providing digital and logistics infrastructure, efficiency tools and vast marketing reach. We empower enterprises with our leading cloud infrastructure, services and work collaboration capabilities to facilitate their digital transformation and grow their businesses.
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Skylon Appoints COBNB as Hospitality Partner, Launches COBNB+ with L’Occitane en Provence Hotel Amenities
As part of the COBNB+ rollout, all PLUS-managed residences at Skylon will feature a full upgrade to L’Occitane en Provence hotel amenities, setting a new standard for guest comfort. The partnership reflects COBNB’s strategic move into experience-led hospitality, where design, service, and brand collaboration come together to enhance guest satisfaction and long-term asset value.
COBNB+ represents the highest tier within COBNB’s managed portfolio, designed for guests who value refined living, consistency, and effortless stays. The programme combines curated interiors, elevated operational standards, and technology-enabled hospitality, offering a boutique-hotel experience within a service apartment setting.
L’Occitane en Provence was selected as COBNB+’s premium amenities partner for its strong association with leading hotels and resorts worldwide, its commitment to responsibly sourced ingredients, and its timeless French heritage. The brand’s emphasis on sensorial comfort and craftsmanship aligns naturally with COBNB’s vision of modern, experience-led hospitality.
Skylon’s designation as the first COBNB+ property establishes a new benchmark for managed residences in Malaysia. The collaboration reflects a shared vision between GBD Land and COBNB to operate residential assets at hospitality-grade standards, enhance guest satisfaction and loyalty, and strengthen long-term asset performance.
“At L’Occitane en Provence, we believe everyday rituals can become precious moments. Our partnership with COBNB+ at Skylon reflects a shared vision to elevate the guest experience through sensorial comfort, thoughtful details, and the art of Provençal living — even within a modern service apartment setting,” said Elida Wong, General Manager, Southeast Asia, L’Occitane en Provence.
The launch of COBNB+ at Skylon marks the beginning of a broader premium rollout across selected developments. As COBNB continues to expand its hospitality platform, COBNB+ will serve as its flagship standard for luxury short-stay and serviced living.
At COBNB, luxury is intentional — and it begins with attention to every detail.
Hashtag: #cobnb #cobnb+ #loccitane #skylonresidences
https://www.cobnb.com.my/
https://www.linkedin.com/company/cobnb-sdn-bhd/
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The issuer is solely responsible for the content of this announcement.
About GBD Land
GBD Land is a forward-looking property developer focused on creating thoughtfully designed residential developments that combine lifestyle, quality, and long-term value.
About L’Occitane en Provence
Founded in the South of France, L’Occitane en Provence is a globally recognised brand known for its natural ingredients, Provençal heritage, and long-standing presence as a preferred amenities partner for premium hotels and resorts worldwide.
About COBNB
COBNB is Malaysia’s leading short-term rental and hospitality management platform, operating at the intersection of technology, design, and service excellence to maximise guest experience and long-term asset performance.
For more information, visit: https://www.cobnb.com.my/cobnb-plus
Skylon Residences:https://skylon.com.my/
The event, supported by the Mission of the People’s Republic of China to ASEAN, the Permanent Mission of Malaysia to ASEAN, and the ASEAN Secretariat, was hosted by the Information Office of the People’s Government of Guangxi Zhuang Autonomous Region, China, and the Department of Culture and Tourism of Guangxi Zhuang Autonomous Region, China, and jointly organized by Guangxi Daily (Guangxi International Communication Center), Guangxi Radio and Television, Guangxi Tourism Development Group, and Guangxi Cultural Industry Group. More than 250 guests attended the event, including envoys from the 11 ASEAN countries and external partners such as Russia, the United Kingdom, Australia, South Korea, and Brazil, senior officials from the ASEAN Secretariat, representatives from mainstream ASEAN media, local university faculty and students, and representatives from Chinese-funded enterprises.
I. A Gathering of Distinguished Guests, Sharing a Common Vision
This marks the first time that Chinese Spring Festival cultural activities have been held at the ASEAN Headquarters. With the deepening of globalization, the traditional festival of Spring Festival is not only a time for family reunions for the Chinese people, but also a new bond for dialogue between different civilizations. The Chinese Spring Festival embodies the philosophy of “harmony and coexistence”, which aligns perfectly with the ASEAN countries’ pursuit of “unity and cooperation”. Furthermore, the sustainable development concept of “rejuvenating the old and welcoming the new” resonates strongly with the ASEAN region’s vision of “common prosperity”.
Kao Kim Hourn, Secretary-General of ASEAN, stated in his video address that over time, the Spring Festival has evolved into a global celebration. Its inscription on the UNESCO’s Representative List of the Intangible Cultural Heritage of Humanity in 2024 underscores the rich significance of this precious human heritage. Within ASEAN, many member states celebrate the Spring Festival, reminding people of the deep emotional bonds that transcend national borders. ASEAN will continue its commitment to fostering a community proud of its identity, actively undertaking the responsibility of protecting, preserving, and creating culture, arts, and traditions, and promoting the development of the cultural and creative industries. As we welcome the Year of the Horse, we hope everyone will embrace the elegance, vitality, and forward momentum that the horse represents, and embark on the new year together with hope, resilience, and unity.
Wang Qing, Chinese Ambassador to ASEAN, stated in his address that the Spring Festival symbolizes reunion, joy, and harmony. Celebrating the holiday together exemplifies the close bonds between the people of China and ASEAN, the integration of our civilizations, and our harmonious coexistence. The China-ASEAN community with a shared future is growing ever closer, demonstrating powerful vitality and setting an exemplary model for building a community with a shared future for mankind. He specifically noted that Guangxi serves as a vital “connection point” and “intersection point” for China-ASEAN friendship, exchanges, and cooperation, functioning as both a “gateway and engine” within the China-ASEAN Comprehensive Strategic Partnership. In the new year, he extended heartfelt wishes for China-ASEAN friendship and cooperation to surge forward like galloping horses, unstoppable in its momentum.
Ambassador Sarah, Permanent Representative of Malaysia to ASEAN, noted in the address that as the Country Coordinator for China-ASEAN Relations, Malaysia has been privileged to witness and foster the flourishing development of the China-ASEAN Comprehensive Strategic Partnership. Cultural celebrations like today’s Spring Festival event vividly demonstrate that our partnership extends far beyond trade agreements and diplomatic protocols. ASEAN and China share a deep, mature, and resilient relationship that will continue to grow and strengthen on the solid foundation of mutual respect, shared interests, and a common vision for peace, stability and prosperity in the region.
Li Pan, Director of the Information Office of the People’s Government of Guangxi Zhuang Autonomous Region, stated in his address that Guangxi is honored to host this event at the ASEAN Headquarters. As the permanent host city of the China-ASEAN Expo, Guangxi serves as an important platform for China-ASEAN economic and trade cooperation and cultural exchanges. Guangxi is working with ASEAN countries to build an artificial intelligence development path of “R&D in Beijing, Shanghai, and Guangzhou + Integration in Guangxi + Application in ASEAN”, and actively creating a new trade chain of “Production in ASEAN + Distribution in Guangxi + Sales in China”. In 2026, Guangxi will work hand in hand with all sectors of ASEAN to forge ahead and strengthen the neighborly bond between China and ASEAN over time.
II. Celebrating the Spring Festival and Savoring the Festive Flavors
The event invited guests from around the world to gather together, celebrating the Spring Festival for the Year of the Horse, savoring the flavors of the Chinese Spring Festival, and appreciating the beauty of the arts. The opening performance, “The Beauty of China: Guangxi’s Zhuang Ethnic Charm”, featured a symbolic dance and connected it with a classic excerpt from the Caidiao Opera “Liu Sanjie”, including the “Antiphonal Song”, creating an artistic masterpiece that blends Eastern poetry with innovative ingenuity. The Chinese instrumental performance, “Chinese Chic Performance for Celebrating the Spring Festival of the Year of the Horse”, featured erhu and suona as the main instruments, playing classic melodies such as the theme song from “Journey to the West” and “Black Myth: Wukong”, converging into a “National Trend IP Music Festival”. When Guangxi ethnic instruments, the maguhu (horse-bone fiddle) and the bolie, met Indonesian gamelan, Chinese and Indonesian musicians jointly performed classics like “Jasmine Flower” and “Folk Songs Like Spring River Water”making the phrase “high mountains and flowing water meet a kindred spirit” more concrete and creating a lasting artistic resonance.
During the event, Guangxi Daily (Guangxi International Communication Center), Guangxi Radio and Television, together with ASEAN media such as TVRI, El John TV, and Harian Inhua, jointly launched the China-ASEAN Spring Festival Short Video Exhibition Week. Using short videos as a link, the event showcased the joyous scenes of China and ASEAN countries celebrating the Spring Festival together from multiple dimensions, inviting netizens around the world to jointly celebrate the Chinese Spring Festival as a global festival through the Internet.
III. Savoring the Cultural Gathering, Welcoming the Prosperous Spring Festival
On the same day, the “Spring Blessings for Success at the Year of the Horse” Chinese Spring Festival Cultural Exhibition and the “Instant Joy Market” Spring Festival Cultural Market were held simultaneously at the ASEAN Headquarters. Guests from various countries experienced the hospitality of “Tea Harmonies the World” through immersive experiences that included playing, appreciating, and tasting, creating “Ancient Charm and Blessings” calligraphy and painting rubbings, admiring the exquisite paper-cutting art, and enjoying a feast of Spring Festival delicacies from all directions.
The most surprising experience for the guests was exploring the smart future using Guangxi’s cutting-edge AI technology. Guests from various countries experienced intelligent translation devices and wore AR glasses, immersing themselves in barrier-free communication and exploring the thousand-year-old legend of the Zuojiang Huashan Rock Art Cultural Landscape. Hardy Chung, a reporter from Harian Inhua, remarked that China’s AI technology not only accurately depicted the beautiful scenery of the Spring Festival but also vividly expressed the touching story of ASEAN and China being connected by mountains and seas and sharing good neighborly friendship, presenting a beautiful picture of cooperation towards the future.
On February 4th, two “Instant Blessings” Pop-Up Events were held at the Halim Station of the Jakarta-Bandung High-Speed Railway and the Mall Central Park in Jakarta, Indonesia, creating a festive atmosphere for the Chinese Spring Festival. Performers from Guangxi presented a variety of acts including song, dance, opera, and puppetry, attracting many locals to participate in interactive activities, join in the “Guangxi Kemusan Dance”, and share the joy of the Spring Festival. Yi Yan, a social media blogger traveling and living in Indonesia, exclaimed, “This year’s Spring Festival atmosphere in Jakarta is different!”
This event attracted more than 20 media outlets, including People’s Daily, Xinhua News Agency, China Media Group, China News Service, TVRI, METRO TV, bolong.id, and Vietnam News Agency to report on the event and widely spread the concepts of peace, amity, and harmony in the Spring Festival to people at home and abroad.
The issuer is solely responsible for the content of this announcement.
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