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Linklogis Releases 2025 Interim Results, Accelerating Global Digital Asset and Stablecoin Deployment
In the first half of 2025, the company remained firmly focused on its core business strategy, accelerated transformation and upgrading, and advanced organizational streamlining, which lowered operating expenses. Linklogis continually improved operational efficiency and enhanced cash flow, with cash reserves reaching RMB 5.4 billion, an increase of RMB 300 million from the balance as of December 31, 2024.
Furthermore, Linklogis fully launched its global trade finance digital asset strategy in the first half of 2025. The company introduced its innovative “Stablecoin+” initiative centered on the Digital Trade Token (DTT) and Asset-Backed Token (ABT), laying a forward-looking foundation for global supply chain finance applications and scenarios based on compliant stablecoins.
At the same time, reflecting the Board and management’s confidence in the company’s ability to deliver steady growth around its core strategies of “AI + industrial finance” and digital assets, Linklogis commits to a share repurchase of no less than USD 80 million over the next 12 months.
Multi-tier Transfer Cloud Becomes the Main Growth Engine, Accelerating Business Model Transformation and Upgrade
Amid global macroeconomic fluctuations and ongoing industry adjustments, Linklogis accelerated its business model transformation, continually improving operational efficiency and enhancing cash flow in the first half of 2025, thereby achieving steady and quality-oriented development. During this period, the total transaction volume of supply chain assets processed by its technology solutions reached RMB 203.6 billion.
Linklogis supply chain fintech solutions include Anchor Cloud, which comprises the Multi-tier Transfer Cloud and AMS Cloud, and FI Cloud, which comprises ABS Cloud and eChain Cloud. As the core segment of the company, the Multi-tier Transfer Cloud demonstrated strong performance, processing a total volume of supply chain assets amounting to RMB 133.2 billion, a year-on-year increase of 54%.
In the FI Cloud segment, Linklogis innovative receivables financing solutions for anchor enterprises deepened penetration among major infrastructure customers and expanded into emerging sectors like renewable energy in the first half of the year. In the ABS Cloud segment, the total volume of supply chain assets it processed reached RMB 9.6 billion, representing a sharp increase from the prior year. At the same time, the company concentrated on digital intelligence transformation solutions for financial institutions, strategically downscaling its low-margin business. During this period, the total volume of supply chain assets processed by eChain Cloud was RMB 26 billion.
Linklogis continued to acquire a broad and diverse range of business partners and gradually implemented innovative “de-anchored” scenario solutions on a larger scale. The company has assisted Yunnan Construction and Investment Holding Group, China Railway 25th Bureau Group Corporation Limited, Luzhou Laojiao, Shandong Xingang Group and others in offering financing product solutions without clear debtor’s acknowledgment, which included purchase order financing and receivables e-loan, continuously optimizing its product portfolio. In the first half of 2025, the number of anchor enterprise and financial institution customers for Linklogis supply chain finance technology solutions rose by 244 to reach a total of 1,352, an increase of 22% from 2024. The overall customer retention rate hit 99%, up from 96% in 2024.
“AI + Industrial Finance“ as Dual Growth Drivers, Strategic M&A Expanding Product Matrix
As a leader and pioneer in the supply chain finance technology sector, Linklogis has continued to deploy and make strides in cutting-edge fields such as artificial intelligence and blockchain. The goal is to enhance efficiency and reshape the value system across the entire supply chain through technological innovation, supporting a high-quality inclusive finance system.
In the realm of AI, Linklogis has built a comprehensive full-stack technology matrix centered on supply chain finance. By integrating leading domestic large language models (LLMs) such as DeepSeek and Qwen with its own proprietary knowledge graph and multi-dimensional data, the company has accelerated the upgrade of its vertical model, LDP-GPT, while efficiently integrating and deploying its AI capabilities.
In the first half of 2025, Beelink AI, based on Linklogis LDP-GPT model, has refined several core capabilities, with significant upgrades to two core applications: intelligent trade documents checking and intelligent registration. These enhancements have been deployed as SaaS or on-premises solutions in over 30 anchor enterprises and financial institutions, including Standard Chartered Bank, assisting them in achieving high-quality digital transformation.
In terms of scenario expansion, Linklogis completed the strategic acquisition of Bytter Technology Co., Ltd. (“Bytter Technology”), broadening its product and service matrix and improving operating efficiency to support long-term, steady growth. Bytter’s comprehensive industry-finance treasury matrix provides full-scenario solutions that support the digital transformation of its enterprise customers’ industry-finance platforms. The treasury management solution is built on a layered architecture, underpinned by advanced technologies including cloud computing, big data, and artificial intelligence, providing enterprises with a solid foundation for treasury management.
Looking ahead, the company will continue to advance more strategic mergers and acquisitions to cultivate diversified growth drivers.
Enhancing Global Supply Chain Finance Deployment, Driving Sustainable Value Creation
In the first half of 2025, Linklogis advanced its international expansion, continuing its dual-engine strategy of “Go Early” and “Go Deep”. Cross-border Cloud and international businesses delivered solid performance, with Cross-border Cloud achieving double-digit growth in both asset volume and revenue.
“Go Early” focuses on building a platform-based ecosystem around four key scenarios: cross-border trade, cross-border e-commerce, overseas business travel, and cross-border logistics. By aggregating resources from 12 high-quality platforms, including Infor, Amazon and Shopee, Linklogis has successfully assisted more than 1,100 SMEs in accessing one-stop digital financing services. “Go Deep” emphasizes in-depth, scenario-based services, aiming to create a comprehensive smart supply chain financing system for Chinese outbound enterprises. The system covers the entire chain from cross-border procurement and production to logistics and sales, facilitating efficient global supply chain expansion and accelerating globalization of these enterprises. Meanwhile, by establishing regional operational centers in the United Kingdom and United States of America, Linklogis has created an end-to-end service network for a multi-regional trade corridor that spans Greater China, Southeast Asia, Europe, and North America.
Linklogis upholds its ESG mission of “technology empowering the development of sustainable supply chain finance,” focusing on the innovative integration of digital technology and industry scenarios. Linklogis is committed to driving sustainable industrial upgrades and inclusive finance model innovation through technology, creating sustainable value for the high-quality collaboration between the real economy and digital finance. In the first half of 2025, the assets related to sustainable supply chains (including renewable energy, rural revitalization, environmental protection, and public health) processed by Linklogis surpassed RMB 29 billion, up 97% compared to the same period last year.
Linklogis has assisted over 380,000 SMEs in accessing efficient, convenient, and low-cost digital inclusive finance services. In the first half of 2025, SMEs using the SaaS platform, “Linklogis Supply Chain Multi-tier AR Transfer Platform,” secured financing at an average cost of only 2.86%. In addition to these achievements, Linklogis ESG performance has continued to lead the industry. The company received its first ESG rating from Sino-Securities Index Information Service (Shanghai) and SynTao Green Finance, as well as an “A” rating from Wind, placing it in the top 10% of the software industry. These accomplishments were further recognized with awards such as “Most Outstanding Contribution to Sustainable Development Goals (SDGs) China 2025” and “2025 ESG Model Enterprise.”
Building a Stablecoin Ecosystem, Advancing Global Trade Finance Digitalization
In the first half of 2025, leveraging its extensive technology expertise in digital assets, Linklogis accelerated the market introduction and penetration of innovative products and fully launched its global trade finance digital asset strategy. Building on its extensive blockchain technology implementation and practical experience, the company has built core capabilities in digital asset infrastructure, covering enterprise-grade custody, integrated cross-border payment and settlement, RWA tokenized financing, as well as compliance, risk management, and on-chain supervision.
Since fully advancing its globalization process in 2019, Linklogis has continuously empowered the transformation of cross-border and global trade finance through Web 3.0 technology. In 2020, Linklogis obtained a digital banking license in Singapore and established Green Link Digital Bank with its business partner, enhancing its capabilities in cross-border financial digital services. In 2023, under the guidance of the Hong Kong Monetary Authority (HKMA), the company collaborated with the Bank for International Settlements (BIS), Standard Chartered Bank, and other institutions to develop the Project Dynamo prototype platform. This initiative introduced the pioneering DTT, a programmable digital trade token that integrates smart contracts with standard token protocols to automate payment terms in trade finance, providing an innovative model for global cross-border trade payments and financing. In August of the same year, Linklogis joined forces with Standard Chartered Bank to participate in Project Guardian, led by the Monetary Authority of Singapore (MAS), leveraging asset tokenization technology to create the ABT platform. This platform transforms trade receivables and other real economy assets into tradable and divisible digital assets, successfully launching the industry’s first tokenized product based on trade assets on the Singapore Exchange, thereby validating the feasibility of this technology in the trade finance sector.
As stablecoin regulatory frameworks mature in Hong Kong and worldwide, Linklogis will further integrate its existing overseas and cross-border business layouts to accelerate the innovation and application of digital asset services. In Singapore, the company will work with licensed institutions to advance the compliant issuance of DTT, implementing compliant stablecoin solutions across all scenarios in supply chain finance. In Hong Kong, Linklogis will actively pursue collaborations with stablecoin license applicants to develop the “Stablecoin+” initiative based on compliant stablecoins. Additionally, the company will actively explore innovative applications in supply chain finance scenarios together with global compliant stablecoin issuers, expanding the use of digital assets in real-world asset tokenization, cross-border digital payments, and inclusive finance, thereby empowering the digital and intelligent transformation and upgrading of the global supply chain finance ecosystem.
Charles Song, the founder, chairman, and CEO of Linklogis, said, “Looking ahead, as the global financial system undergoes significant transformation, the integration of AI with compliant stablecoins will not only redefine how cross-border capital flows operate but also provide innovative solutions for enhancing the resilience of the financial system amidst growing global economic uncertainty. Amid historic transformation opportunities, Linklogis, moving forward without burden, will fully concentrate on three core strategies, which are AI + industrial finance, strategic mergers and acquisitions, and digital assets, to build diversified engines of development and achieve sustainable, high-quality growth. Confident in our future prospects, we commit to a share repurchase of no less than USD 80 million over the next 12 months. We will also work to foster a win-win ecosystem with customers and strengthen the foundation for shareholder value.”
Hashtag: #Linklogis
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CP AXTRA Achieves 88/100 DJSI Sustainability Score Ranks 2nd Globally in the Food & Staples Retailing Sector, Reinforcing Its Global Leadership in Retail and Wholesale Sustainability
Mr. Tanin Buranamanit, Group Chief Executive Officer of CP AXTRA Public Company Limited, stated, “CP AXTRA’s score of 88 out of 100 and its 2nd place global ranking in the Food & Staples Retailing sector reflect our strong commitment to driving sustainability through concrete actions and impactful initiatives. Sustainability is embedded across our daily business operations, particularly through systematic waste management throughout the value chain to reduce environmental impact, while creating social value and operating under good corporate governance. We are also advancing toward our goals of Carbon Neutrality by 2030 and Net Zero emissions by 2050, supporting stable growth and long-term sustainable value creation.”
In 2025, CP AXTRA implemented a series of intensive environmental initiatives under the “AXTRA Zero Waste: Less Waste, More Value” concept. These efforts reduced landfill waste by more than 31,700 tonnes, including over 15,000 tonnes of food waste and more than 16,755 tonnes of recyclable waste. The Company also operated a plastic bottle take-back program through Makro and Lotus’s stores nationwide, collecting more than 2.2 million bottles. Together, these initiatives helped reduce greenhouse gas emissions by 109,649 tonnes of carbon dioxide equivalent (tCO2e), equivalent to the carbon-absorption capacity of approximately 11 million trees. CP AXTRA also expanded the use of clean energy by installing solar rooftop systems at distribution centers and more than 1,384 Makro and Lotus’s stores, alongside the rollout of a clean-energy delivery fleet of more than 300 electric vehicles, reducing environmental impacts across the value chain.
Additionally, the Company continues to strengthen its social and governance performance through employee capability development, respect for human rights, and the creation of career opportunities for farmers and SMEs nationwide under its “Platform of Opportunity” program. The initiative supports the local economy, with a combined value exceeding 30 billion baht, by connecting entrepreneurs to standardized wholesale and retail systems, generating income and long-term economic stability, and promoting equality, diversity, and fair labor practices.
The 2025 S&P Global CSA results reinforces CP AXTRA’s leadership in elevating Thailand’s wholesale and retail standards to the global level, while creating sustainable value for all stakeholders.
Hashtag: #CPAXTRA #ซีพีแอ็กซ์ตร้า #Makro #Lotuss #CPAXT #DJSI #SPGlobal #Sustainability #ESG #ขยะเป็นศูนย์ประโยชน์เป็นแสน #ลดทิ้งสร้างค่าAXTRAZeroWaste #FoodWasteManagement
The issuer is solely responsible for the content of this announcement.
About CP AXTRA Public Company Limited
CP AXTRA Public Company Limited, a subsidiary of CP Group, operates Asia’s leading wholesaler and retailer, “Makro” and “Lotus’s.’ The Company is based in Thailand, with operation across 10 countries. CP AXTRA is committed to fulfilling people’s lives with good health, love, joy, and well-being by providing solutions and meeting customers’ daily needs with technology, innovation, and operational excellence. With over 30 years of retail experience, CP AXTRA is a trusted partner for both B2B and B2C customers, offering a comprehensive range of products and services. Today, it manages over 2,700 offline stores in Thailand and Asia, with strong online presence.
Changhong is accelerating the integration of AI across its home‑appliance lineup. Its panda-themed AI series merges this widely welcomed Chinese cultural symbol with AI capabilities, utilising anthropomorphic interaction, environmental sensing, and adaptive control to recreate a naturally intuitive and comforting user experience. The AI TV features the intelligent “Panda Xiaobai,” offering round-the-clock interaction. Complementing it, the AI refrigerator introduces cloud-based humidity control to maintain ingredients in an optimized freshness chamber, while the AI air conditioner delivers a gentle adaptive cooling experience reminiscent of a natural breeze. Completing the ecosystem, the AI washing machine employs triple-power cleaning for efficient fabric care. Blending everyday technology with humanistic warmth, Changhong aims to create smart home experiences that feel more intuitive and emotionally engaging.
Moreover, Changhong also unveiled several breakthroughs: The 100-inch RGB MiniLED TV, boasts an ultra-slim profile, an anti-glare display, and immersive audiovisual performance, complemented by industry-leading large-scale AI models like DeepSeek for enhanced voice interaction. The AI Air Manager 360° air conditioner extends beyond temperature control to incorporate air‑quality management, learning user habits to optimize comfort and energy efficiency. The full‑space preservation refrigerator applies AI freshness algorithms and dual‑system temperature control to eliminate odor mixing and temperature fluctuations. The AI washer‑dryer set intelligently identifies fabric types and automatically adjusts washing programs.
Changhong presents a holistic smart home ecosystem designed around user experience, further enhancing its visibility and presence in the international smart home landscape. Driven by its global “Technology + Sports” branding strategy, the brand has established an overseas network encompassing R&D, manufacturing, products, and services. Through intelligent sensing, natural interaction, and multi-scenario coordination, its AI appliances deliver a more efficient, convenient, and comfortable home experience, reflecting the Company’s forward-looking vision for smart living.
Through its fusion of AI innovation and vivid design, Changhong is shaping a distinct global brand presence, delivering smart home solutions that resonate both emotionally and technologically with users worldwide.
Hashtag: #Changhong
The issuer is solely responsible for the content of this announcement.
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[CES 2026 Deep Dive] From Fingertips to the Stars: Lens Technology Debuts Aerospace-Grade UTG, Reshaping the LEO Satellite “Energy Canopy”
There are no flashy RGB lighting effects here, only a sheet of glass as thin as a cicada’s wing, being repeatedly rolled and unrolled like a tape measure. This is the public debut of Lens Technology’s aerospace-grade UTG (Ultra-Thin Glass) photovoltaic encapsulation solution. This technology marks the official entry of the manufacturing titan—best known as a giant in the Apple supply chain—transferring its precision manufacturing capabilities from consumer electronics to humanity’s next trillion-dollar market: space infrastructure.
As leading global satellite companies begin the mass deployment of third-generation (V3) satellites, the Low Earth Orbit (LEO) internet race is entering a “second half” defined by heavy payloads, long lifespans, and low costs. Lens Technology’s entry aims to untie the knot that has long plagued the aerospace industry: the trade-off between flexibility and durability.
Farewell to the “Plastic Feel”: The Material Battle in Space
At the Lens Technology booth, engineers demonstrated the core contradiction to the audience: Traditional aerospace solar cell covers are either heavy Cerium-doped Glass (CMG) or expensive Fused Silica, typically ranging from 100μm to 500μm in thickness. They are robust, but too heavy and impossible to bend.
To adapt to the massive power demands of next-generation satellites (such as those supporting direct-to-cell services), solar wing designs are rapidly evolving from rigid panels to Roll-Out Solar Arrays (ROSA-like structures). This shift forced designers to temporarily turn to polymer materials like transparent Polyimide (CPI).
“However, polymers have a fatal weakness in space,” explained a Lens Technology on-site technical lead. “The LEO environment is filled with high-energy Atomic Oxygen (AO) and strong UV radiation. Under long-term exposure, polymer molecular chains break, causing the material to yellow, become brittle, and suffer a drastic drop in light transmission. This efficiency decay was tolerable for early satellites with 5-7 year lifespans, but for the new generation of mega-constellations pursuing higher commercial returns, it is unacceptable.”
Lens Technology’s answer is Aerospace-Grade UTG. As an inorganic material, glass possesses innate “immunity” to Atomic Oxygen and UV aging, ensuring high light transmission throughout the satellite’s lifecycle. More importantly, its dense structure provides an effective barrier against water vapor and micrometeoroids, offering physical protection for delicate ultra-thin HJT or future Perovskite batteries.
The 30-Micron “Moat”: A Perfect Match for Next-Gen Satellites
In the demo area, a piece of glass only 30μm-50μm thick is bent to an astonishing radius of R1.5mm. This level of flexibility drew gasps from the audience.
This is exactly the characteristic most coveted by top global satellite companies today. To reduce the cost per launch, next-generation mega-satellites must be stowed with origami-like efficiency inside the rocket fairing. Lens Technology’s UTG solution allows solar wings to be tightly wound like a tape measure during launch, and instantly recover to a flat state upon orbital deployment.
However, making glass thin is the first step; keeping it from shattering during the violent vibration of a rocket launch is the real challenge.
Analysts point out that Lens Technology’s core competitiveness lies in its proprietary chemical strengthening processes and laser/diamond wire cutting technologies. Glass fractures often originate from micro-cracks invisible to the naked eye. Leveraging processes honed on foldable smartphones, Lens has significantly reduced the density of micro-defects on the glass edges and surfaces. This means that even under immense tension and vibration, this “glass skin” remains tough and resilient.
Dimensional Strike: Reshaping Aerospace Costs with “Consumer-Grade” Capacity
If technical specifications are the ticket to entry, then capacity and cost control are Lens Technology’s ultimate weapons.
“The logic of commercial space has changed; it is now the era of industrial mass production,” commented an industry analyst at the scene. Compared to the small-batch, lab-grade customization model of traditional aerospace glass manufacturers, Lens Technology brings the scale of consumer electronics manufacturing.
Facing the grand ambition of global satellite leaders planning to launch tens of thousands of satellites annually, supply chain elasticity is critical. Lens Technology stated that it has the capability to rapidly expand existing pilot lines or flexibly retrofit mass production lines. This potential for “ten-thousand-satellite scale” delivery and yield control can significantly lower the BOM (Bill of Materials) cost per satellite—addressing the most sensitive pain point for commercial space giants today.
Outlook: The New Cornerstone of Next-Gen Space Energy
At CES, Lens Technology also “spoiled” its future technology roadmap.
As Perovskite/Silicon tandem cells are viewed as the mainstream for future satellite power, UTG will serve not just as a cover, but as an encapsulation substrate. Lens Technology revealed it is developing next-generation composite UTG integrated with Anti-Static (ESD) coatings and Selective Radiation coatings, which will not only protect chips from electrostatic discharge damage but also assist in regulating battery temperature.
Although this business currently accounts for a tiny fraction of Lens Technology’s massive revenue and is in a period of intensive validation with global top-tier photovoltaic component manufacturers (Tier 2) and top commercial space clients (Tier 1), its signal significance cannot be ignored.
From smartphone screens to satellite wings, Lens Technology is proving that in the era of scaled expansion for space infrastructure, ground-based industrial giants possessing extreme craftsmanship and mass manufacturing capabilities will be indispensable “pavers” for the interstellar journey.
Hashtag: #LensTechnology
The issuer is solely responsible for the content of this announcement.
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