Media OutReach
PAObank Surpasses 100% Asset Growth with HKD500 Million Capital Infusion
The First Digital Bank in HK to Offer Comprehensive Online and Offline Insurance Services
HONG KONG SAR – Media OutReach Newswire – 22 December 2025 – PAO Bank Limited (“PAObank”) announces that amid the ongoing expansion of its business, the total assets of bank have more than doubled year-on-year. In addition, PAObank receives a further capital injection of HKD500 million from Lufax Holding Ltd. (“Lufax”) (“06623.HK, NYSE: LU), which further consolidates Bank’s capital strength. PAObank remains committed to enhancing its technological capabilities and comprehensively upgrading its retail banking business. With the ambition to become the “preferred digital wealth management bank”, PAObank is dedicated to delivering a one-stop financial experience that is cost-effective, streamlined and time-saving, and aspires to become one of the Ping An Group’s integrated financial platforms in Hong Kong.
Along with this latest capital injection, Lufax is investing a total of HKD700 million in PAObank since 2025, demonstrating its steadfast support for the Bank’s expansion. Mr. Ronald Iu, Chief Executive of PAObank, said, “This renewed capital commitment from Lufax is a strong testament to our shareholder’s confidence in the future of digital banking and their unwavering support for PAObank’s long-term development. Our retail banking business is expanding rapidly. Following our recent announcement regarding the granting of a wealth services related license, we now poised to officially launch this new offering in the market. Meanwhile, we have also become the first digital bank in Hong Kong to offer comprehensive insurance services both online and offline.
By harnessing innovative digital technology, we are dedicated to connecting with every customer and delivering financial and insurance services that are not only intelligent, but also personal and attentive. With our commitment to providing flexible and holistic protection for customers at every stage of life, we strive to become one of the Ping An Group’s integrated financial platforms in Hong Kong.”
Over the past year, PAObank has continued to enhance its retail banking services, achieving a number of significant milestones. As of the end of November 2025, the bank’s total assets increased by more than 100% year-on-year, reflecting a substantial expansion in business scale and operations. Since officially entering the insurance business in March this year, PAObank has become the first digital bank in Hong Kong to offer comprehensive insurance services through both online and offline channels. In addition to general insurance products including motor insurance, travel insurance, and home insurance, PAObank has also expanded its offerings to include a diverse range of life protection and savings insurance plans. With a fully paperless process, customers can now enjoy the convenience of securing protection at their fingertips, experiencing a more seamless, efficient, and secure insurance journey.
As a member of Ping An Group, PAObank actively integrates the strengths of banking and insurance to gradually build a comprehensive insurance and wealth management ecosystem, enabling customers to enjoy all-round protection alongside banking services, and reinforcing PAObank’s unique positioning as a digital bank with insurance DNA.
Hashtag: #PAObank #DigitalBank #CapitalInjection #Insurance
The issuer is solely responsible for the content of this announcement.
PAO Bank Limited
PAO Bank Limited (“PAObank”), a wholly-owned subsidiary of Lufax Holding Ltd (“Lufax”) (SEHK: 6623; NYSE: LU) and a member of Ping An Insurance (Group) Company of China, Ltd. (“Ping An”) (SEHK: 2318; SSE: 601318), is committed to fostering financial inclusion and establishing a digital banking ecosystem by leveraging its extensive experience in SME banking services and its leading financial technology advantages. PAObank was granted a banking licence by the Hong Kong Monetary Authority in May 2019 to offer banking services via virtual channels. PAObank is expanding diverse business segments including retail banking and SME banking, serving customers in Hong Kong and the Greater Bay Area, establishing itself as Ping An Group’s comprehensive financial platform in Hong Kong.
Media OutReach
CUKTECH Officially Launches Its Online Store in Indonesia, Expanding Charging Technology Presence in Southeast Asia
CUKTECH focuses on the development of power and charging solutions, with a product portfolio that includes power banks, charging cables, wall chargers, and car chargers. Product development emphasizes charging efficiency, safety standards, and long-term reliability, addressing everyday usage scenarios involving smartphones, tablets, laptops, and other connected devices. The brand’s solutions are designed to support increasingly common multi-device lifestyles, including mobile work and frequent travel.
Prior to the launch of the official online store, CUKTECH operated in Indonesia mainly through third-party distribution channels, resulting in limited product availability. With the establishment of an official channel, the company is gradually introducing a more complete product lineup to the Indonesian market, aligning local availability with that of other Southeast Asian markets such as Vietnam, Malaysia, and the Philippines.
According to the company, the official online store serves as a centralized platform for presenting product specifications, technical features, and launch updates in a consistent manner. This approach is intended to improve transparency and accessibility for consumers while supporting a more structured, long-term market strategy in Indonesia.
Looking ahead, CUKTECH plans to continue expanding its product portfolio in Indonesia, introducing additional products to address evolving local usage needs. Future launches will focus on scenarios such as multi-device charging, mobile productivity, and daily commuting, reflecting changing consumer behavior.
This market-oriented approach aligns with CUKTECH’s brand philosophy, “In somewhere, For somewhere,” which emphasizes adapting products and solutions to the specific needs of each market rather than applying a uniform global model.
Updates on product launches, brand developments, and the official online store can be found through CUKTECH’s official social media channels on Instagram and TikTok:cuktech_id
https://www.tokopedia.com/cuktech-official-store
https://shopee.co.id/shop/1748675224
Hashtag: #CUKTECH
The issuer is solely responsible for the content of this announcement.
Media OutReach
Green SM Launches All-Electric Taxi Service in Bali with Taksi Komotra
Under the partnership structure, Green SM provides the technology platform, all-electric vehicle fleet, operational standards, and driver development system, while Taksi Komotra contributes its established local expertise and network across Bali. The collaboration integrates electric mobility technology with on-the-ground operational capabilities to deliver a scalable, governance-driven transportation model.
Operations in Bali are implemented under Green SM’s “5 Green Promises” service commitment framework. Established as a foundational operating standard since the company’s inception, the framework ensures that each ride delivers an excellent customer experience, professional drivers, high-quality and safe vehicles, fair and transparent pricing, and a meaningful contribution to environmental sustainability.
The service operates an all-electric fleet that produces no exhaust emissions or fuel combustion. All vehicles are maintained under strict technical and safety protocols to ensure consistent service performance while contributing to cleaner air and quieter urban environments.
A central pillar of the launch is the Green SM Driver ecosystem. Drivers are positioned as professional green mobility ambassadors guided by five core values: Respect, Professionalism, Dedication, Discipline, and Competitive Income with Stable Career Pathways. Structured training, transparent earnings mechanisms, and disciplined service governance aim to elevate driving into a respected profession while maintaining safety and reliability as foundational standards. This framework aligns income stability with environmental responsibility, reinforcing the role of drivers in supporting Bali’s sustainable tourism trajectory.
The launch comes amid rising mobility demand driven by tourism growth and daily transportation needs across the island. The Indonesia Tourism Outlook 2025 report notes a sustained shift toward environmentally responsible travel, underscoring the relevance of electric mobility in long-term development planning. According to projections from Indonesia’s National Development Planning Agency (Bappenas), green employment nationwide is expected to reach 4.8-5.3 million by 2029, reflecting the broader economic potential of sustainable industries.

Mr. Deny Tjia, Managing Director of Green SM Indonesia, said: “The partnership with Taksi Komotra reflects our long-term commitment to building a high-quality, well-governed mobility ecosystem in Indonesia. By combining electric vehicles with professional driver development and clear operational standards, we aim to support Bali’s sustainable tourism ambitions while delivering safe, reliable, and comfortable rides for the community.”
H. Hasbi, Chairman of Koperasi Komotra, said: “We are proud to partner with Green SM to introduce electric taxis in Bali. Electric mobility will become part of the new standard for tourism and daily transportation on the island, and this collaboration helps us better serve local residents and visitors while preparing for the future of sustainable transport.”
The Bali launch marks another strategic milestone in Green SM’s expansion in Indonesia, following earlier operations in key markets including Jakarta, Makassar, Bekasi, and Surabaya. In these cities, the service has been positively received by local residents and international visitors alike, who value its clean electric fleet, professional drivers, and structured safety standards that enhance travel confidence.
With its growing presence across the country, Green SM continues to build a scalable electric mobility ecosystem that balances environmental responsibility, service excellence, and inclusive economic growth.
Hashtag: #GreenSM
The issuer is solely responsible for the content of this announcement.
About GSM and Green SM
GSM (Green Smart Mobility) is the world’s first company to operate a fully electric ride-hailing service across multiple platforms. As a pioneer in sustainable transportation, GSM has laid the foundation for a cleaner, smarter, and more responsible mobility model powered entirely by VinFast electric vehicles. Founded by Vingroup Chairman Pham Nhat Vuong, GSM is committed to building a future-ready mobility ecosystem while promoting more environmentally conscious lifestyles in markets that are rapidly embracing sustainability.
Green SM is GSM’s official global brand, representing the company’s vision and values in every market it serves. In Southeast Asia, the brand operates as Green SM in Indonesia, Xanh SM in Vietnam and Laos, and Green GSM in the Philippines. Across all markets, the service consistently delivers a modern travel experience through VinFast electric vehicles, professional drivers, and a service culture that prioritizes safety and passenger comfort.
Green SM symbolizes progress toward a future where technology, people, and the environment move forward in harmony. Beyond providing zero-emission transportation, the brand is also committed to fostering environmentally aware communities in every market where it operates.
About Taxi Komotra
Taksi Komotra Bali is part of the Koperasi Mobil Transport Bali, which was established in 1993 under its original name, KOMITRA Bali. In 1996, the cooperative officially changed its name to KOMOTRA Bali and has continued to grow as one of Bali’s local transportation operators.
Today, Taksi Komotra Bali manages two core transportation services: rural bus services and taxi operations. For more than three decades, Komotra Bali has remained committed to providing safe and reliable transportation while supporting local mobility and the tourism sector across the Island of the Gods.
Media OutReach
Wuxi, the Newest UNESCO City of Music, Charms Europe with 2026 Folk Tour
Launched on February 14, the “Chinese Folk Music Odyssey” featured seven major concerts alongside a series of academic and grassroots cultural exchanges. The tour served as a high-level dialogue between the traditional heritage of China’s Jiangnan region and the classical musical heartlands of Europe.
The tour opened at the Centre for Fine Arts in Brussels, where a capacity crowd of 2,000 experienced the vibrant Spring Festival Overture. The ensemble presented a “Chinese Music Feast,” using traditional instruments to paint an auditory “Jiangnan Scroll” of southern Chinese life. In a poignant finale, Chinese fiddles joined forces with local keyed violins to perform the classic Horse Racing. The fusion of Eastern and Western strings brought tears to the eyes of the Chinese diaspora and earned standing ovations from local attendees.
“The melodies possess both natural charm and profound cultural heritage,” noted Belgian music critic Philippe, following six curtain calls. “It is a truly borderless musical exchange.”
Beyond the concert halls, the group engaged with European pop culture in the heart of Brussels’ Comic Strip district. A “flash mob” titled Tintin’s Encounter with Jiangnan Music saw musicians performing alongside iconic murals of Tintin, engaging local youth and residents through social media-friendly cultural interaction.

The journey continued through Germany’s elite venues, including Hamburg’s Elbphilharmonie and the Tonhalle Düsseldorf, showcasing the technical precision of Chinese folk orchestration. In the Austrian Tyrol, the tour took an improvisational turn as Wuxi musicians performed alongside local artists against the backdrop of the Alps, a live demonstration of the “beauty without borders”.
The tour concluded on February 26 in Vienna, where the ensemble hosted the “Dreamy Jiangnan” cultural salon at the Wiener Konzerthaus. The event paired musical performances with an interactive exhibition of Wuxi’s intangible cultural heritage, featuring traditional embroidery and clay figurines. The delegation also visited the University of Music and Performing Arts Vienna for the “Jiangnan Charm, Harmonious Resonance” China-Austria Music Exchange event. Through a series of academic dialogues with faculty and students, both sides engaged in a meaningful cultural encounter. These interactions went beyond simple performances, significantly deepening mutual understanding and strengthening the musical ties between East and West.
By integrating the “Voice of China” into the “World Symphony,” the Wuxi Cultural Exchange Group has opened a new chapter in Wuxi’s enduring musical engagement with the world.
Hashtag: #WuxiInformationOffice
The issuer is solely responsible for the content of this announcement.
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