HONG KONG, Aug 29, 2025 - (ACN Newswire via SeaPRwire.com) - FWD Group Holdings Limited (“FWD Group” or “FWD”) today announced its interim results for the six months ended 30 June 2025.- New business sales were up 38 per cent to US$1.246 billion compared to 2024 on an annualised premium equivalent (APE) basis. New business contractual service margin (CSM) of US$794 million, with year-on-year growth of 34 per cent.- Operating profit after tax was up 9 per cent to US$251 million with continued positive contributions from each of the company’s four geographic reporting segments: Hong Kong SAR & Macau SAR; Thailand & Cambodia; Japan; and Emerging Markets.- Net profit of US$47 million is a record interim result under IFRS 17.- Further improved financial flexibility with an upgrade to FWD Group's ratings - with its notional insurer financial strength rating now A2 - as announced by Moody's in July 2025. Maintained a strong capital position with a 283 per cent solvency ratio* and net underlying free surplus generation that more than doubled to US$417 million. Dividends of over US$500 million were received from the geographic reporting segments. - Comprehensive tangible equity up 8 per cent to US$8.15 billion, and Group embedded value up 8 per cent to US$6.38 billion, reflecting the value created for shareholders during the first half of 2025. The company subsequently completed its IPO - which raised HK$3,611 million (approximately US$466 million) in gross proceeds – and began trading on 7 July 2025 under the stock code 1828 on the Hong Kong Stock Exchange.- Completed the build-out of a high-net-worth (HNW) hub in Asia operating out of three jurisdictions – Hong Kong SAR, Singapore and Bermuda – serving the global high-end insurance market with diversified asset allocation, wealth management and legacy planning. A new FWD Private lounge located in a prime commercial district in Hong Kong is now fully operational.Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, said, “We’re delighted to report record interim results under IFRS 17 in our first earnings as a publicly listed company. The outstanding growth in new business CSM demonstrates our ability to execute our customer-led strategy successfully across Asia in a sustainable and profitable way.“We intend to use the net proceeds of our recent IPO to further enhance our capital position and financial flexibility, which may involve reducing debt, in support of further growth and reach with customers, digital capabilities and channels,” added Huynh Thanh Phong.In Hong Kong SAR & Macau SAR, outstanding growth was posted in new business sales and new business CSM, reflecting ongoing broad-based demand from both local and Mainland Chinese visitor customers and the full activation of the FWD Private HNW business. The company continues to focus on its multi-channel distribution strategy alongside product innovation – such as its indexed universal life offering developed following recent regulatory guidance, as well as new cross-border Greater Bay Area medical services for eligible customers.The Thailand & Cambodia reporting segment new business indicators were partly impacted by the exit from underwriting new business in the Thailand corporate care segment in 2024. The business remains well positioned in Thailand to meet demand for protection, medical and pension products from an aging population. Its exclusive bancassurance partnership with Siam Commercial Bank maintained its number one market position. Similarly, the company’s agents and advisors retained a number two position in the annual Million Dollar Round Table (MDRT) rankings released in July 2025. The MDRT is a global independent association recognised as a standard of excellence in the life insurance and financial services industries.In Japan, the business reported solid new business results from its individual protection focused portfolio. The introduction of its first savings offering in July – a Japanese yen single premium annuity product – marked the company’s entry into the savings and retirement needs market.  The Emerging Markets segment reported strong new business sales growth, despite industry headwinds and economic uncertainty in several markets. In Indonesia, BRI Life – a joint venture where FWD Group holds a strategic 44 per cent investment and collaborates with Bank BRI – was number one in bancassurance by new business sales. In the Philippines and Vietnam, the company’s agents and advisors ranked number two in the latest annual MDRT rankings.  Six months ended/as at 31 Dec or 30 Jun^   US$ millions, except for percentages2025  2024Growth(year on year CER basis)          Profitability       Operating profit after tax2512239%  Net profit/(loss)473nm  CSM balance5,9965,17411%  Growth     New business sales (APE)1,24687638%  New business CSM79457334%  Value of new business50640421%  Customer indicators     Purchase customer emotion – good or great92%92%n/a  Claims customer advocacy – net promoter score6364n/a  Risk & Capital     Net underlying free surplus generation417193115%  Group local capital summation method coverratio*283% 260%n/a  Value     Group embedded value6,3805,5698%  Comprehensive tangible equity8,1507,1628%  Return on tangible equity17%15%n/a About FWD GroupFWD Group (1828.HK) is a pan-Asian life and health insurance business that serves approximately 34 million customers across 10 markets, including BRI Life in Indonesia. FWD’s customer-led and tech-enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience. Established in 2013, the company operates in some of the fastest-growing insurance markets in the world with a vision of changing the way people feel about insurance. FWD Group is listed on the main board of the Hong Kong Stock Exchange under the stock code 1828. For more information, please visit www.fwd.comFor media inquiries, please contact: groupcommunications@fwd.comSource: FWD Group Holdings Limited^ The results are for the six months ended 30 June 2025 and are compared to the same period in 2024. CSM balance, Group LCSM cover ratio, group embedded value, comprehensive tangible equity and return on equity 2024 values are December 2024 balances/ratios and growth rates are shown accordingly. Growth rates are represented on a constant exchange rate (CER) basis. Except for operating profit/(loss) after tax (non-IFRS measure), net profit/(loss), CSM, and comprehensive tangible equity, all other numbers are unaudited. Operating profit after tax and net profit after tax represent the amounts attributable to equity holders of the company and are presented net of non-controlling interests. New business sales are calculated on an annualised premium equivalent (APE) basis, based on 100 percent annualised first year premiums and 10 percent single premiums. Return on tangible equity is calculated as operating profit after tax, divided by the average of the balances of tangible equity as of the beginning and end of such period. Tangible equity is calculated as adjusted total equity attributable to shareholders of the company, minus the intangible assets net of non-controlling interests.*Prescribed capital requirement (PCR) basis Copyright 2025 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 29, 2025 - (ACN Newswire via SeaPRwire.com) - Tianneng Power International Limited (the “Company”, together with its subsidiaries, collectively referred to as the “Group” or “Tianneng”), (Stock Code: 00819.HK) releases its interim report for the six-month period ended 30 June 2025.In the first half of 2025, adhering to the Group’s vision of Strategic Guidance and Reformation Breakthrough, Tianneng coordinated the three-wheeled strategy of Industry, Technology, and Capital. While solidifying the core competency of the lead-acid battery business, the Group also accelerated the expansion of overseas markets, released the Group’s built-up potential in new-energy battery, deepened the vertical construction of the battery recycle system, and drove the diversification of products and sustainability.Within the reporting period, the Group made a strategic pivot to reduce the trade business, achieved RMB 21.168 billion in revenue for the manufacturing business, which was stable compared to the same period in 2024, accounting for approximately 87.5% of the total revenue within the sector. In terms of the trade business, the Group realized an overall revenue of RMB 30.24 billion, which represented an 89.47% decrease from the same period of 2024. Within The manufacturing sector, the high-end eco-friendly battery business remained stable, providing a resilient financial support for the Group. The emerging businesses experienced significant growth, among which the Li-ion battery business achieved a revenue of RMB 0.501 billion, representing a 174.58% growth from the same period of 2024. Within the reporting period, the Group achieved a gross profit of RMB 2.537 billion, which is stable compared to the same period of 2024. In terms of operating cash flow, the Group achieved RMB 0.891 billion of net inflow, compared to a net outflow of RMB 0.162 billion in the same period of last year. Overall, in the first half of 2025, Tianneng demonstrated strong resilience, developmental momentum, and strategic commitment in a complex external environment.Internationalisation Accelerated, Overseas Expansion Bore FruitsInternational expansion is a vital fulcrum of the Group in strengthening global competitiveness and achieving incremental leaps. In the first half of 2025, the overseas business experienced remarkable growth with continuous positive feedback, achieving a revenue of RMB 0.226 billion, representing a 75.39% growth from the same period of 2024.Within the reporting period, guided by local demands, the Group accelerated its overseas expansion with global industrial resources, and set up operational teams in countries such as Thailand, Vietnam, and Turkey while developing a sales network in major areas including the Asia-Pacific, Europe, North America, the Middle-East and Africa. In addition, the Group’s production base in Vietnam is being constructed in an orderly manner while the capacity of the assembly base is robustly released, laying the groundwork for future developments in the region. The Group has developed customised products based on specific local demands and emphasised building localised operational teams, while advancing its “Overseas Service” strategy, and systematically constructed localised standards. With these developments, the Group was able to optimise its global supply chain and release future growth potentials.Core Business Stable and Resilient, with Promising Growth MomentumWithin the reporting period, the Group pursued a path of “Stability and Growth Duality” under a complex external environment and industrial structure re-balancing. The high-end eco-friendly battery business demonstrated resilience, achieving a revenue of RMB 18.292 billion, providing the vital financial stability for the Group. The high-end eco-friendly batteries are sealed, maintenance-less lead-acid batteries built with the Group’s innovation in design and manufacturing, highly adapting to the demands of the light electric vehicle market, with their cost and performance superiority, are also widely utilised in various fields, including backup power supplies, automobile batteries, and special-purpose industrial power batteries.The Group solidified its competencies in the core business, upgraded its intelligent manufacturing capabilities, improved the operational management system, consolidated its sales network, drove product quality and comprehensive market competitiveness growth, and fortified the resilience of lead-acid batteries in a complex market environment. Within the reporting period, the Group was able to effectively upgrade its manufacturing efficiency and supply-chain resilience through utilising intelligent manufacturing systems and equipment technology upgrades, while demonstrating effective results in cost management. Through the evolution of battery technologies and product upgrades, the Group constructed a differentiated product matrix targeting major fields of usage such as light electric vehicles, data centres, automobile start-stop batteries, and industrial power batteries,driving a service system upgrade with user value at its core, and organically merged the traditional sales network with an innovative digital ecosystem.Solidifying the Diversity of Technological Road-maps and Accelerating New Business Growth In the first half of 2025, the Group committed to the development of new-energy businesses, including Li-ion batteries, solid-state batteries, hydrogen fuel cells, and sodium-ion batteries, and systematically drove innovative breakthroughs, intelligent manufacturing upgrades, user-scenario extensions, and fostered new business growth. The Group’s Li-ion batteries business mainly targets power storage and low-speed power. Within the reporting period, the Group’s power storage and low-speed power business achieved major improvements both in terms of quality and quantity. Specific markets, such as industrial batteries and automobile A/C batteries, also saw improvements in market volume. Overall, the capacity utilisation of the Group’s new-energy business was significantly enhanced, with remarkable improvements in operational efficiency and revenue, RMB 0.501 billion, a 174.58% increase from the same period of 2024.The Group’s solid-state battery also achieved intermittent success within the three dimensions of high energy density, cycle longevity, and high-rate performance. The Group also formed strategic collaborations with industry leaders in the two-wheeled vehicle market and carried out solution testing with partners targeting the low-altitude flying vehicle market. The Group continued its investment in hydrogen fuel-cells with a full-chain R&D system and an expert team, with advanced products, began testing in user-scenarios such as two-wheeled vehicles, public transportation, heavy trucks, and special-purpose machinery, and collaborated with upstream and downstream partners in constructing an application ecosystem. The Group also spearheaded the development and application of sodium-ion battery technology, and conducted experiments for key metrics such as low-temperature and cycle longevity testing for scenarios such as power storage and automobile start-stop battery in a steady manner. Through the multi-roadmap approach, and the “technology breakthrough - user scenario verification - solution delivery” process, the Group’s new-energy business growth is gradually and steadily shifting from individual verification to chain-release, firmly supporting the business momentum.Strengthening the Recycling System and Fortifying Industrial CollaborationThe battery industry is at the core of the Group’s business, which systematically constructed a full-life industry chain of manufacturing, recycling, and reusing, forming a two-railed industry system of lead-acid battery and Li-ion battery, achieving efficient recycling. Within the reporting period, the recycling business of the Group achieved a revenue of RMB 1.8 billion, a 15.82% increase compared to the same period of 2024.As a leader in the recycling industry in China, the Group is continuously building an effective recycling network with front-end reach and back-end efficiency, promoting the efficiency of waste battery recycling empowered by the collaborative effort of businesses at scale, and achieving a top-of-industry recycling ratio of crucial materials. Within the reporting period, the Group continued to enhance the granularity and precision of the recycling process from recycling, processing, and reusing, improve the differentiating system for Li-ion battery recycling, and improve the resource synergies at core regions and user scenarios. Through uninterrupted exploration of technological potential and system performance optimisation, the Group was able to gradually achieve scale advantage and economic value of the recycling system, injecting continuous momentum for the industry.Looking forward, Tianneng will drive industrial upgrades through technological innovation, empower efficient operation through digitisation, rebuild the value-chain system through ecological collaboration, and seek growth through internationalisation. The Group will solidify its competencies in the lead-acid market, accelerate the research, application, and market expansion process of new energy batteries such as Li-ion battery and solid-state battery. The Group will strengthen its capabilities in battery recycling, enhance the collaborative efficiency of industry-chain integration while expediting its expansion into overseas markets and optimising localised operation, from product to service, and develop into a new-energy battery company that is competitive with a global vision. Finally, the Group will promote the convergence between its company values and social values with a growth mindset and build a new paradigm of sustainable and high-quality growth.About Tianneng Power International LimitedTianneng Power International Limited and its subsidiaries (collectively referred to as “Tianneng” or the “Company”), founded in 1986 and headquartered in China, has developed into a leading enterprise in the new energy battery and the light electric vehicle battery industry with a comprehensive manufacturing system and technological advantage. Tianneng was listed on the Main Board of The Stock Exchange of Hong Kong Limited (Stock Code: 00819. HK) in 2007. After nearly four decades of development, Tianneng has established lead-acid batteries as its core business, focusing on the market of motive batteries for light electric vehicles, while expanding its product in automotive start-stop systems, backup power for communication base stations and other diversified scenarios. The Company is also advancing the R&D, production and sales of lithium-ion batteries, hydrogen fuel cells, sodium-ion batteries and solid-state batteries, offering multi-technology battery solutions for special industrial vehicles, energy storage systems and other applications. Additionally, Tianneng strengthens its recycling economy initiatives around its core operations. Through a dual-track system for lead and lithium recycling, the Company achieves efficient resource regeneration and reuse, building a comprehensive ecosystem for the new energy industry. 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