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Hong Kong Residential Market Activity Supports Confidence for Home Prices to Bottom Out and Rally Within Year-End

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Prime Central Office Rents Show Signs of Stabilization While High Street Retail Rents Record Narrower Decline

  • With the support of improving market sentiment and the U.S. Federal Reserve’s rate cut, Hong Kong residential transaction numbers trended upwards in Q3 amid the current consolidation phase. Total residential transactions for the Q3 period reached 16,700 units, up 63% y-o-y, while home prices remained stable throughout the quarter.
  • The Grade A office market recorded net absorption of 401,000 sq ft in Q3, the highest level since Q2 2019. Overall office rents declined by 0.8% q-o-q, although Prime Central subdistrict rents posted a modest rise of 0.6% q-o-q.
  • The average retail high street vacancy rate in core districts dropped to 8.3% in Q3, with leasing activities most active in Causeway Bay and Mongkok. Overall high street retail rents gradually stabilized within a narrow range of ±1% q-o-q, with the full-year rental change now forecast in a range of -1% to -2% y-o-y.

HONG KONG SAR – Media OutReach Newswire – 8 October 2025 – Global real estate services firm Cushman & Wakefield today held its Hong Kong Property Markets Q3 2025 Review and Outlook press conference. The residential market sustained momentum in the quarter, supported by lower mortgage rates, a buoyant stock market, and developers’ active launches of primary market home sales at competitive prices. Monthly residential transactions exceeded 5,000 units during the quarter, bringing total residential sales in Q3 to 16,700 units. In the Grade A office sector, boosted by a recovery in stock market confidence and initial public offering (IPO) activity, quarterly net absorption and new lease activities remained robust, with the Greater Central district outperforming. Overall office rents remained under pressure due to high availability, but Prime Central subdistrict rents showed early signs of recovery and edged up. As for the retail sector, overall retail sales experienced some stabilization in the first two months of Q3, with an uptick of 2.8% y-o-y through July and August, while the overall year-to-date decline in retail sales narrowed. Average high street vacancy levels in core retail districts fell during the quarter, accompanied by mild q-o-q declines in core area high street rents.

Grade A office leasing market: Leasing demand and momentum accelerated, Prime Central sub-district rents stabilized

Leasing demand in the Hong Kong Grade A office market saw accelerated momentum through Q3 2025, boosted by a recovery in stock market confidence and initial public offerings (IPOs). The total new leased area in Q3 reached 1.13 million sf, pushing the total for the first three quarters of 2025 past 3.37 million sf, surpassing the full-year total for 2024. The overall Hong Kong Grade A office rental level decline narrowed to -0.8% q-o-q in Q3. The Prime Central subdistrict outperformed the overall market to achieve positive rental growth of 0.6% q-o-q. Quarterly net absorption reached 401,000 sq ft, the highest level since Q2 2019 and bringing the overall office availability rate down to 19.2%, despite the addition of 463,000 sf of new supply at the One Causeway Bay property completed in the quarter.

John Siu, Managing Director, Hong Kong, Cushman & Wakefield, said, “The Grade A office market continued to experience active leasing demand in Q3, chiefly due to recovery in the financial sector and IPO activity, in turn driving leasing demand both from upstream and downstream of related industries. As one of the most preferred submarkets for banking and financial institutions, Greater Central accounted for around 30% of the total new leased area in the quarter, supported by new set-up and relocation demand from hedge funds and wealth management firms, and demonstrating the expansion strategies adopted by the high-end financial services industry.

“Notably, the Greater Central office rental level decline narrowed in Q3, with signs of stabilization between August and September. Prime Central subdistrict office rents edged up by 0.6% q-o-q, suggesting a steady recovery in demand for premium office space. We believe that occupancy levels and rental performances between the highest-quality offices and other lower-tier spaces will increasingly diverge. With leasing sentiment in the first three quarters of 2025 demonstrating greater resilience than previously anticipated, we have now revised our full-year 2025 forecast for overall Grade A office rents to decline in a milder range of approximately 4% to 6%.”

Retail leasing market: Retail sector showed signs of stabilization, with the overall average vacancy rate falling and rental level declines narrowing further

Hong Kong’s overall retail sales experienced some stabilization in the first two months of Q3, with an upturn of 2.8% y-o-y through July and August. In August alone, retail sales grew by 3.8% y-o-y, marking the fourth consecutive month of growth and suggesting the beginnings of a turnaround from the previously sluggish performance. The buoyant stock market and the government’s continuous proactive efforts in promoting tourism have provided support to more stable local consumption and growing tourist arrivals, bolstering overall retail market sentiment. The city’s overall retail sales for the January to August 2025 period saw a narrower y-o-y decline of 1.9% to record HK$245.1 billion. Within key retail sectors, the Medicines & Cosmetics; and Food, Alcoholic Beverages & Tobacco sectors continued to record modest growth in the Q3 period, rising by 3.8% and 0.8% y-o-y, respectively.

The overall high street vacancy rate across the four core retail districts fell to 8.3% in Q3 from 9.7% in Q2. Vacancy rates in Causeway Bay and Mongkok dropped to 7.9% and 5.3%, respectively, aided by resilient tourist footfall and attractive rental levels that have attracted entry from diverse retailers. Central and Tsimshatsui rents rose slightly to 10.0% and 10.6%, respectively.

As for high street rental levels, Causeway Bay, Central and Tsimshatsui recorded q-o-q declines within 1%, while Mongkok remained stable, edging up 0.1% q-o-q. Given the sustained leasing momentum in core districts, coupled with landlords’ more pragmatic attitudes, overall high street rents are expected to gradually stabilize. Cushman & Wakefield’s full-year 2025 forecast is now for the overall rental level to decline in the range of 1% to 2%. Regarding F&B rents, fluctuations across districts were within ±1% in Q3, although overall leasing activity in the sector was relatively subdued, suggesting room for negotiation in the near term.

John Siu commented, “Since the full reopening of borders, Hong Kong’s retail market has continued to see first-store leasing activities by brands. During the first nine months of 2025 we have recorded at least 91 non-local brands setting up their first permanent store in Hong Kong, with F&B operators accounting for the largest share, followed by fashion and athleisure brands. Notably, around 60% of these brands chose to set up their first location in the four core districts. As for the origin, 41% are from the Asia-Pacific region, and 39% are from the Chinese mainland, reaffirming Hong Kong as a favored destination for both international and China brands. Zooming in on Causeway Bay, apart from the traditional prime streets of Kai Chiu Road and Russell Street, the adjacent Pak Sha Road, Yun Ping Road and Lan Fong Road have formed a vibrant cluster with new fashion brands and bakeries popular among young consumers and tourists, injecting stable foot traffic and energy into the district and in turn driving leasing demand. We are also pleased to see the government’s push in promoting the “pet economy,” which is expected to help attract a broader customer base and to enhance the overall consumer experience.”

Residential market: Home prices stabilized in Q3 while rents continued to rise

Hong Kong’s residential market extended the momentum seen last quarter through the Q3 period, supported by the buoyant stock market and sustained capital inflows. The total number of residential sales and purchase agreements in Q3 reached approximately 16,700 units, representing a y-o-y increase of 63%. The primary market remained active in the quarter, accounting for over 30% of the July and August total transaction number. Developers actively launched primary market projects at competitive prices and with incentives, prompting a resurgence of homebuyer interest particularly for small-to-medium-sized units. In September, the U.S. Federal Reserve announced a 25-basis-point rate cut, marking its first reduction of the year. Several local banks followed suit by lowering mortgage rates, effectively reducing the entry threshold and financing costs for homebuyers. These factors are expected to further stimulate demand in the residential sector.

Rosanna Tang, Executive Director, Head of Research, Hong Kong, Cushman & Wakefield, added, “Buyer confidence has strengthened with the support of a gradually easing financial environment and rising residential rental yields. This has helped sustain monthly residential transaction numbers above 5,000 units since March this year. Additionally, the U.S. Federal Reserve’s 25-basis-point rate cut in September sent a positive signal to the market, contributing to the housing sector’s gradual stabilization during its consolidation phase. According to the Rating and Valuation Department, the overall residential price index has steadily recovered from its low in March, recording a cumulative increase of 1.3% between March and August. This has narrowed the total price decline in the first eight months of the year to just 0.2%.

“Meanwhile, the residential rental index rose by approximately 3.2%, driven by demand from incoming expats and non-local students, reflecting the resilience of the leasing market. Looking ahead, if the U.S. implements further rate cuts within the year, the HIBOR (Hong Kong dollar interbank rate) is expected to fall further, reducing capital costs and making rental yields more attractive. This could encourage more investors and renters to enter the market, providing positive support to both transaction numbers and property prices. We now forecast the total number of residential transactions for the full-year 2025 to reach 58,000 to 60,000 units, with overall home prices expected to stabilize and potentially strengthen by up to 2% for the year.”

Edgar Lai, Senior Director, Valuation and Consultancy Services, Hong Kong, Cushman & Wakefield, highlighted, “Residential market sentiment continued to strengthen in Q3, particularly in the small-to-mid-sized segment. Our tracking of popular housing estates shows that prices across different market segments recorded growth through the quarter, reflecting a gradual recovery in buyer confidence. Prices at City One Shatin, representing the mass market, rose by 3.8% q-o-q. Taikoo Shing, representing the mid-market, saw a q-o-q increase of 1.9%. Residence Bel-Air, representing the luxury segment, recorded a 1.5% q-o-q rise. Although verbal enquiries from the bank have slightly eased from May, the level has remained relatively high, suggesting sustained market activity. Notably, we have seen some transactions involving tenanted properties. Lower purchase-price units, particularly those at less than the HK$5 million to HK$6 million range, have been sought-after by homebuyers. With ongoing cash rebate offers from banks and market expectations of further rate cuts, transaction activity in this segment is expected to remain strong, as a key driver of the recovery of the overall residential market.”

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Photo 1: (From left to right) Edgar Lai, Senior Director, Valuation and Consultancy Services, Hong Kong, Cushman & Wakefield; John Siu, Managing Director, Hong Kong, Cushman & Wakefield; and, Rosanna Tang, Executive Director, Head of Research, Hong Kong, Cushman & Wakefield.
Hashtag: #戴德梁行 #Cushman&Wakefield

The issuer is solely responsible for the content of this announcement.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2024, the firm reported revenue of $9.4 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit or follow us on LinkedIn ().

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Global Wellness Forum 2026 Set for June 23 in Kuala Lumpur as Malaysia’s Nutraceutical Industry Embarks on Next-Gen Transformation

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KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 16 June 2026 – Malaysia’s wellness market is moving beyond traditional competition over ingredients, dosage, and pricing toward product-format experience, sustained use, and differentiated innovation. The Global Wellness Consumer & Product Trends Forum 2026 will hold a forum on June 23, 2026, in Kuala Lumpur. Under the theme “Defining the Next Generation of Health Industry,” the event will bring together Malaysian trade associations, leading distribution channels, and Taiwanese R&D teams to jointly explore market opportunities.

As a core component, James Pereira, general manager of MADSA, will share insights on Malaysian health industry regulations. Adrian Toh, CEO & Executive Director of R Pharmacy, will provide frontline retail channel observations regarding shifting consumer demands. Alex Liao, General Manager of Welbloom Bio-Tech, will represent Taiwan to share how format innovation effectively responds to brand differentiation, consumption experiences, and market compliance needs.

Faced with brands’ attention toward differentiated experiences, Welbloom Bio-Tech will showcase its proprietary, Halal-certified FRESH-Jelly® technology on-site, demonstrating the innovative application to make supplements more food-like. Through ingredient payload capacities, zero- or low-sugar designs, and customized flavor development, FRESH-Jelly® allows supplements to maintain functionality while becoming more enjoyable to consume regularly, providing Malaysian brands with a distinctive option beyond capsules and tablets.

With the rapid rise of Malaysia’s wellness consumer market, its mature distribution channels and exceptional potential for regional expansion are accelerating the country’s growth as a critical hub for the Southeast Asian health industry. Welbloom Bio-Tech states that this forum is a bridging platform connecting Taiwan’s manufacturing capabilities with Malaysian market insights, aiming to unlock commercially viable partnerships for both regions.

The event is organized by The PAGE, co-organized by Welbloom Bio-Tech and SEAbizs, and supported by NTBSA, MATRADE, R Pharmacy, and MADSA.

Event Information】
Time: June 23, 2026, 09:30 – 14:00
Venue: The Zenith – Connexion Conference & Event Centre, Kuala Lumpur

Hashtag: #WelbloomBioTech

The issuer is solely responsible for the content of this announcement.

About Welbloom Bio-Tech

Welbloom Bio-Tech focuses on health supplement R&D, manufacturing, and dosage form innovation. Through forward-looking market foresight and robust R&D technologies, it provides one-stop services from formulation design and flavor development to manufacturing, assisting clients in Malaysia and Singapore to build highly competitive health supplements.

To learn more, please search “Welbloom” or click the link:

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Doing Good Index 2026: Asia’s US$753 Billion Philanthropic Potential Remains Unrealized

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In the 2026 edition of its flagship policy report the Doing Good Index, the Centre for Asian Philanthropy and Society (CAPS) finds that Asia’s capacity to deploy private capital for social good is not keeping pace with its potential.

  • Asia’s social sector is under strain: 78% of the 2,166 social delivery organizations (SDOs) surveyed report insufficient domestic funding.
  • Asia is one of the fastest-growing regions for wealth creation, yet the policies and incentives needed to channel it toward social good are not keeping pace.
  • Singapore has become the first economy to enter the “Doing Excellent” category, demonstrating what alignment across regulations, tax incentives, government partnerships and efforts to create a culture of giving can achieve.
  • 84% of Asian SDOs surveyed apply the UN Sustainable Development Goals (SDGs) in their operations, pointing to their enduring value as a shared framework for coordination and collective action beyond 2030.

HONG KONG SAR – Media OutReach Newswire – 16 June 2026 – Asia’s social needs are intensifying, and official development assistance is declining. Yet, while the region’s wealth is growing dramatically, the policies, incentives and partnerships needed to channel private capital toward social good are not keeping pace. That is a key finding of the Doing Good Index 2026, the fifth edition of CAPS’s flagship policy report, which assesses the enabling environment for private social investment across 17 Asian economies.

The report finds that while the enabling environment for private social investment is in place across much of the region, its effectiveness remains uneven. Improvements in registration processes and accountability mechanisms have been accompanied by persistent barriers, including restrictions on foreign funding, regulatory complexity, and inconsistent government engagement. In many cases, policies exist on paper but are not fully implemented in practice, limiting their impact.

At the same time, although trust in SDOs remains high across the region, broader ecosystem conditions, such as media sentiment, talent pipelines, and institutional support, are showing signs of strain. 81% of SDOs struggle to secure unrestricted funds for their work, while 73% report difficulty recruiting staff, constraining the sector’s ability to turn trust into impact.

“Asia has the wealth, the will, and in many economies, the foundations of a strong enabling environment. What is needed now is concerted, aligned effort to bring them together. The potential is enormous,” said Ruth Shapiro, Co-Founder and CEO, Centre for Asian Philanthropy and Society.

Unlocking Asia’s US$753 Billion Philanthropic Potential

Even as Asia’s wealth continues to grow, the region faces significant and intensifying challenges across climate, education and health. Official development assistance is declining, and there is increasing pressure on domestic resources at precisely the moment demand for social services is rising.

If Asian economies were to contribute just 2% of GDP to philanthropy, as the United States does, it could generate an estimated US$753 billion annually for social good. That represents 15 times the official development assistance flowing into the region, and almost half the financing needed to hit the UN’s SDGs in Asia. But realizing that potential depends on strengthening the policies, incentives and partnerships that enable private capital to flow toward social good. The Doing Good Index 2026 finds that across much of Asia, those conditions are not yet in place.

“The world has changed dramatically, and Asia can no longer rely on others to address its social challenges. The Doing Good Index 2026 shows the region has the potential to meet this moment, but only if governments and philanthropists act together to build the conditions that make it possible,” said Ronnie Chan, Chairman, Centre for Asian Philanthropy and Society.

Singapore Shows What Alignment Can Achieve
Singapore has, for the first time, entered the top “Doing Excellent” category in the Doing Good Index 2026, reflecting years of deliberate effort to build a strong culture of philanthropy and civic engagement. Clear regulations, generous tax incentives, openness to foreign funding, and close collaboration between government and the social sector have created a strong enabling environment.

Singapore’s achievement demonstrates that when regulations, fiscal policy, ecosystem conditions and procurement work in concert, the outcomes are stronger. While no two economies will follow the same path, Singapore’s experience highlights the conditions that matter, such as the active promotion and alignment of philanthropy and giving across the whole of society.

The SDGs: Falling Short but Still Relevant in Asia
In the run-up to 2030, global progress toward the SDGs has fallen short of ambition, and Asia is no exception. Yet the Doing Good Index 2026 finds that 84% of SDOs continue to apply the SDGs in their work. Further, the rise of Environmental, Social and Governance (ESG) reporting has not displaced them, because most SDOs see the two frameworks as complementary rather than competing.

As the deadline approaches, the Index points to their enduring value not as a target but as a shared framework for strategy, coordination and collective action in the years ahead.

Other Findings from the Report

  • Talent shortages persist for Asia’s social sector: more than 70% of SDOs face difficulty recruiting and retaining staff across Asia.
  • AI adoption is happening, but usage remains limited: only 13% of surveyed SDOs report using AI regularly.
  • 39% of SDOs say claiming tax benefits is difficult, suggesting administrative barriers may be limiting the impact of existing incentives for giving.

Hashtag: #CAPS #DoingGood #PrivateCapital #PublicGood #Philanthropy #Impact

The issuer is solely responsible for the content of this announcement.

About the Doing Good Index

Released biennially and now in its fifth edition, the Doing Good Index is CAPS’s flagship policy research that assesses the enabling environment for doing good in Asia: the systems, policies and practices that facilitate or constrain philanthropic giving and the deployment of this capital.

CAPS’s research team surveyed 2,166 social delivery organizations (SDOs) and conducted 132 interviews with sector experts across 17 Asian economies to provide a comparative, evidence-based view of where environments are supportive, where gaps persist, and how systems can be strengthened to better mobilize private resources for public good.

The Index looks at indicators under four sub-indexes: regulations, tax and fiscal policy, ecosystem, and government procurement, which provide an understanding of the specific measures economies have taken to catalyze philanthropic giving and promote social sector development.

Since its inception, the Index has been an essential resource for policymakers, philanthropists, and nonprofit leaders seeking to understand and improve the conditions for giving across the region.

For more information, and visit .

About the Centre for Asian Philanthropy and Society (CAPS)

Established in 2013 and working across more than 17 economies in Asia, the Centre for Asian Philanthropy and Society (CAPS) is a nonprofit organization committed to improving the quantity and quality of philanthropic and private giving throughout Asia. Our mission is to maximize private capital for public good, conducting research, advisory, convening and capacity building to engage philanthropists, foundations, family offices, corporates, government bodies, social sector organizations and experts on best practices, models, policies and strategies to facilitate private giving and social investment in the region. For more information, visit and .

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Frost & Sullivan White Paper Names Phancy Rise vGPU a Tier 1 Leading Platform

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Rise vGPU + ModelHub Power China’s AI into the Heterogeneous Orchestration Era

HONG KONG SAR – Media OutReach Newswire – 15 June 2026 – Frost & Sullivan, a globally renowned growth consulting firm, has released its “2026 AI Infrastructure Orchestration Platform White Paper”. The report recognizes Phancy Group’s Rise vGPU as a Tier 1 Leading Platform, the highest maturity tier in heterogeneous GPU orchestration. Phancy’s ModelHub also achieved the highest Overall Score in the enterprise-grade model management platform evaluation. This marks a significant endorsement of Phancy’s technological capability in heterogeneous AI infrastructure.

According to the white paper, as large model applications scale rapidly, China’s AI industry is facing structural challenges stemming from multi-chip coexistence. These include hardware heterogeneity, fragmented software stacks, persistently low GPU utilization (generally below 30%), and rising model adaptation complexity — all of which have become major bottlenecks for enterprise-scale AI deployment.

The report highlights a fundamental shift in AI infrastructure competitiveness – moving away from “single-chip performance” toward “cluster-scale system coordination.” At this critical juncture, Phancy has positioned itself as a leader in advanced orchestration through its full-stack AI infrastructure platform, offering a proven solution to heterogeneous compute challenges and helping drive China’s AI industry from “compute accumulation” into a new era of “compute orchestration.”

Phancy Rise vGPU: Tier 1 Leading Platform

In its assessment of mainstream AI infrastructure platforms, Frost & Sullivan defined Tier 1 criteria across three core dimensions: heterogeneous support, fine-grained control, and production-grade execution. Phancy Rise vGPU meets all three standards and has been recognized as a Tier 1 Leading Platform.

Rise vGPU transforms AI infrastructure from fragmented, low-efficiency device-level management to a unified software-defined control plane. Its key technology breakthroughs include:

  • Comprehensive Heterogeneous Management: Unified onboarding and management across more than 10 mainstream GPU/NPU vendors, including NVIDIA, Ascend, Cambricon, Hygon, and others.
  • Ultra-Fine Resource Partitioning: Industry-leading sub-GPU level compute and MB-level memory granularity slicing.
  • Significant Utilization Improvement: Through safe oversubscription and time/space multiplexing, GPU utilization is increased from industry averages below 30% to 70%-90%.
  • Intelligent Precision Scheduling: Multi-dimensional scheduling algorithms based on priority, topology, load, and resource awareness to achieve optimal compute allocation.
  • Production-Grade SLA Assurance: The Deterministic Execution Layer delivers committed and auditable SLA guarantees for critical inference workloads.
  • Full Lifecycle Operability: Comprehensive monitoring, metering, and cost allocation capabilities that turn GPU resources into truly operable digital assets.

Model Hub: Highest Overall Score in Model Management Platform Evaluation

Beyond compute orchestration, the report underscores the strategic importance of enterprise-grade model management platforms. As a powerful complement to Rise vGPU, Phancy ModelHub enables enterprises to build a complete full-stack AI infrastructure — from compute to models and from resource scheduling to business delivery.

The white paper notes that Phancy ModelHub delivers leading performance in key areas such as Model & Chip Compatibility, Execution Stability & Performance, and Model-GPU Coordination & Scheduling, achieving the highest Overall Score. Through its unified model management and execution platform, ModelHub creates a seamless closed-loop process covering model onboarding, deployment optimization, inference services, and version governance — significantly lowering the barrier to model deployment and accelerating AI innovation.

Dr. Dai Wenyuan, Founder & CEO of Phancy, said: “The Frost & Sullivan white paper accurately captures the inflection point in AI infrastructure development. The recognition of Rise vGPU as a Tier 1 Leading Platform and ModelHub’s top Overall Score provide important authoritative validation of Phancy’s technology strategy and product strength. As a full-stack AI cloud service platform, Phancy believes the next wave of competitiveness in the AI industry will come from systematic improvements in compute orchestration efficiency. We will continue to focus on heterogeneous compute unified scheduling and model ecosystem operations, working closely with customers and industry partners to advance China’s AI industry from ‘compute accumulation’ to a true ‘compute orchestration’ era.”

Hashtag: #PhancyGroup

The issuer is solely responsible for the content of this announcement.

About Phancy Group

Phancy Group (6682.HK) is a leading full-stack AI cloud services platform, providing comprehensive solutions for the AI 2.0 era. Our offerings include Rise vGPU, ModelHub and SageAIOS, delivering efficient and scalable AI infrastructure with end-to-end capabilities. We provide a complete solution from heterogeneous compute resource management and optimization to the deployment of intelligent agent models. These solutions empower digital transformation across a wide range of industries, supporting our vision of building a large-scale and efficient “Token Factory.”

Guided by the mission of “AI for Everyone” and positioned as the “Navigator of AI,” Phancy Group is committed to becoming a global leader in Artificial General Intelligence.

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