TORONTO, Aug. 13, 2026 (GLOBE NEWSWIRE) — Q-Gold Resources Ltd. ("QGold" or the "Company") today confirms that it has refiled its interim financial statements for the three-month period ended March 31, 2026 (the "Interim Financial Statements") to include a compliance statement that was inadvertently omitted from the original filing.

The update was identified in the course of a routine review by staff of the Ontario Securities Commission ("OSC Staff") connected to the Company's base shelf prospectus filing. The Company worked cooperatively with OSC Staff to resolve the matter promptly.

Importantly, the refiling does not change any previously reported financial results, and no restatement was required. The sole update adds an unreserved statement of compliance with IAS 34 Interim Financial Reporting; all financial information remains exactly as originally disclosed.

In keeping with standard Ontario Securities Commission (“OSC”) procedure under Staff Notice 51-711 (Revised) Refilings and Corrections of Errors, the Company will appear on the OSC's public Refilings and Errors list for three years from the refiling date — a standard transparency measure applied to any issuer that amends its continuous disclosure record during an OSC Staff review, regardless of the nature or materiality of the change.

QGold remains committed to the highest standards of financial disclosure and transparency with its shareholders. The amended Interim Financial Statements and related MD&A are available on SEDAR+ under the Company's issuer profile at www.sedarplus.ca.

About Q-Gold Resources Ltd.

Q-Gold Resources Ltd. is a Canadian gold development company focused on advancing high-quality gold assets in North America, led by the Quartz Mountain Gold Project in Oregon, USA — a large-scale gold development project with strong economics, long-term scalability, and district-scale exploration potential.

The Company remains focused on disciplined project advancement, responsible resource development, and long-term shareholder value creation through the development of high-quality North American gold assets.

For further information, please contact:

Scott Moore
VP Corporate Development
Cell: +1 (416) 903-3586
Q-Gold Resources Ltd.
info@qgoldresources.com | www.qgoldresources.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Featured Image: Pexels @ belchonock

Disclaimer

DENVER and MIAMI, Aug. 14, 2026 (GLOBE NEWSWIRE) — The Western Union Company (NYSE: WU) and International Money Express, Inc. (Intermex) (NASDAQ: IMXI) today provided an update regarding regulatory approvals for Western Union’s pending acquisition of Intermex.

Western Union and Intermex announced today that the parties have received regulatory approval from the New York State Department of Financial Services (the "NYDFS") for Western Union’s pending acquisition of Intermex. In connection with the approval, Western Union made certain commitments to the NYDFS with respect to remittance services and locations in New York following the acquisition.

Also on August 13, 2026, Western Union and Intermex received a letter dated August 13, 2026 from the California Department of Financial Protection and Innovation (the “DFPI”) suspending the approval extension previously granted on July 31, 2026 for Western Union’s pending acquisition of Intermex. In its letter, the DFPI stated that the suspension is “based on a need to further review the transaction as a result of the intervening six months since approval was originally granted, and to further examine the impact of the proposal on operations in this state.” Western Union and Intermex intend to engage promptly with the DFPI to address its questions and to seek reinstatement of the approval as soon as practicable.

Western Union and Intermex remain committed to completing the transaction and intend to close promptly after the reinstatement of the DFPI approval, subject to satisfaction or waiver of remaining customary closing conditions.

About Western Union

The Western Union Company (NYSE: WU) is committed to helping people around the world who aspire to build financial futures for themselves, their loved ones and their communities. Our leading cross-border, cross-currency money movement, payments and digital financial services empower consumers, businesses, financial institutions and governments — across more than 200 countries and territories and nearly 130 currencies — to connect with billions of bank accounts, millions of digital wallets and cards, and a global footprint of hundreds of thousands of retail locations. Our goal is to offer accessible, financial services that help people and communities prosper. For more information, visit www.westernunion.com.

About Intermex

Founded in 1994, Intermex enables consumers to send money from the United States, Canada, Spain, Italy, and Germany to more than 60 countries. Intermex provides digital money through agent retailers; Intermex-operated stores; mobile apps; and Intermex’s websites. Transactions are fulfilled through thousands of retail and bank locations worldwide. Intermex is headquartered in Miami, Florida, with international offices in Puebla, Mexico, Guatemala City, Guatemala, London, England, and Madrid, Spain. For more information about Intermex, please visit www.intermexonline.com.

Western Union Contacts:

Media Relations:
Amanda Demarest
media@westernunion.com

Investor Relations:
Tom Hadley
WesternUnion.IR@westernunion.com

Intermex Contact:

Investor Relations:
Alex Sadowski
IR@intermexusa.com

Safe Harbor Compliance Statement for Forward-Looking Statements

This press release contains certain statements that are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve certain risks, uncertainties, and assumptions that are difficult to predict. Actual outcomes and results may differ materially from those expressed in, or implied by, these forward-looking statements. Words such as “expects,” “intends,” “targets,” “anticipates,” “believes,” “estimates,” “guides,” “provides guidance,” “provides outlook,” “projects,” “designed to,” “pending,” ”working to,” ”subject to,” and other similar expressions or future or conditional verbs such as “may,” “will,” “should,” “would,” “could,” and “might” are intended to identify such forward-looking statements. Readers of this joint press release of Western Union and Intermex should not rely solely on the forward-looking statements and should consider all uncertainties and risks discussed in the Risk Factors section of the respective Annual Reports on Form 10-K for the year ended December 31, 2025 for Western Union and Intermex and in subsequent filings with the Securities and Exchange Commission (the “SEC”) made by Western Union and Intermex, respectively. The statements are only as of the date they are made, and neither Western Union nor Intermex undertakes any obligation to update any forward-looking statement.

By their nature, forward-looking statements address matters that involve risks and uncertainties because they relate to events and depend upon future circumstances that may or may not occur, such as the consummation of the proposed transaction and the anticipated benefits thereof. These and other forward-looking statements, as well as any related oral statements, are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to, factors relating to the proposed acquisition of Intermex by Western Union, including: (i) the completion of the proposed transaction on anticipated terms and timing (or whether the transaction will close at all), including obtaining regulatory approvals (such as the pending approval from the DFPI) and the satisfaction or waiver of conditions to the completion of the transaction; (ii) the ability of Western Union to integrate and implement its plans, forecasts and other expectations with respect to Intermex’s business after the completion of the proposed transaction; (iii) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the definitive merger agreement, which may require either Western Union or Intermex to pay a termination fee or other expenses; (iv) potential significant transaction costs associated with the proposed transaction, and the possibility that the proposed transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (v) continued availability of capital and other changes in capital markets; (vi) potential litigation or regulatory actions relating to the proposed transaction, which could result in significant costs of defense, indemnification, and liability; (vii) the risk that disruptions from the proposed transaction, such as diverting management’s attention from the ongoing business operations and relationships of Western Union or Intermex, may harm its business, including current plans and operations, the market price of the capital stock of Western Union and Intermex, or Western Union’s and Intermex’s operating results; (viii) the effect of the announcement, pendency or completion of the proposed transaction on the ability of Western Union or Intermex to retain and hire key personnel; (ix) Western Union or Intermex’s ability to maintain relationships with customers, suppliers, governments, regulators and others with whom Western Union or Intermex, respectively, does business, or its operating results or business generally; (x) potential adverse business uncertainty resulting from restrictions imposed by the definitive merger agreement during the pendency of the proposed transaction that may impact Western Union or Intermex’s ability to pursue certain business opportunities or strategic transactions; (xi) the impact of regulatory actions, investigations or inquiries, including the suspension of previously granted approvals, on the timing or completion of the proposed transaction; and (xii) the risks and uncertainties pertaining to Western Union and Intermex’s respective businesses, including those set forth in the most recent Annual Report on Form 10-K and its subsequent Quarterly Reports on Form 10-Q filed by Western Union and Intermex, respectively, as such risk factors may be amended, supplemented or superseded from time to time by other reports filed or furnished with the SEC.

Featured Image: Megapixl @ Kenishirotie

Disclaimer

Diversified Energy Response to Media Speculation

Diversified Energy Company (NYSE: DEC, LSE: DEC) (the “Company” or “Diversified”) notes recent media speculation regarding a potential transaction involving the Company.

Diversified has an acquisition strategy driven by discipline, focus, skill, and precision. The Company has made 35 acquisitions totaling over $7 billion of value since its IPO in 2017. Acquisitions are a core aspect of the Company’s strategy, and the Company regularly engages in preliminary discussions with potential counterparties in this regard.

The Company confirms that it has had preliminary discussions concerning a possible acquisition of Birch Resources. Discussions are ongoing and remain at an early stage. No agreement has been reached, and there is no certainty that any transaction will occur, nor as to the terms on which any transaction might proceed.

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No. 596/2014 on Market Abuse (“UK MAR”), as it forms part of the UK domestic law by virtue of the European Union (Withdrawal) Act 2018.

For further information, please contact:

About Diversified Energy Company

Diversified is a leading publicly traded energy company focused on acquiring, operating, and optimizing cash generating energy assets. Through our unique differentiated strategy, we acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.

Featured Image: Depositphotos @ Dmbaker

Disclaimer

AleAnna, Inc. reports positive Adjusted EBITDA^[1] and net income for the fifth consecutive quarter

DALLAS, Aug. 13, 2026 (GLOBE NEWSWIRE) — AleAnna, Inc. (“AleAnna” or “the Company”) (NASDAQ: ANNA) today announced financial and operational results for the second quarter of 2026. AleAnna reported net income of $3.8 million and Adjusted EBITDA^[1] of $4.1 million. AleAnna closed the period with a strong cash position of $32.6 million, supporting ongoing development activity and future strategic initiatives.

Financial and Operational Update

Following production ramp-up and stabilization at the Longanesi field during 2025, the Company recognized approximately $9.5 million of Conventional segment revenue during the second quarter of 2026 from sales of its share of production from the Longanesi field.

In the second quarter of 2026, the Company reported net income of $3.8 million and Adjusted EBITDA^[1] of $4.1 million, compared to approximately $0.6 million and $0.8 million, respectively, in the same period of 2025.

During the first quarter of 2026, the Company announced significant increases in Proved Reserves Volumes in its year-end 2025 Third-Party Reserves Report from DeGolyer and MacNaughton, which reported an increase of Total Proved Reserves by 47% as compared to year-end 2024 after adjusting for 2025 production volumes.

Longanesi production and development

The Company successfully commenced production from its Longanesi field during 2025. In the first six months of 2026, the field has continued to perform strongly, delivering solid production volumes and consistent operational performance.

During the six months ended June 30, 2026 construction activities continued on the permanent production facility for the Longanesi concession, which is being developed together with the joint venture partner and operator. The transition from the existing temporary production facilities to permanent production infrastructure represents an important milestone in the maturation of the concession and is expected to support its long-term development. Upon completion, the permanent facility is expected to improve production operations and provide a stronger foundation for the continued development of one of the Company's core assets.

Gradizza development

During the second quarter of 2026, AleAnna commenced construction activities at the Gradizza field development project, representing a significant milestone in the advancement of our Italian conventional natural gas portfolio. Gradizza is expected to become AleAnna's first wholly owned and operated production asset and reflects our strategy of increasing exposure to operated assets with long-term production potential. The commencement of construction follows the completion of key permitting and development activities, marking the transition of the project from the planning and authorization phase into execution. We believe the advancement of Gradizza further strengthens the portfolio of producing and development-stage assets and supports our objective of creating long-term value through the development of strategically positioned domestic natural gas resources.

Management Commentary

Marco Brun, Chief Executive Officer, commented on AleAnna’s recent accomplishments: “We continued to deliver strong financial results, generating approximately $4.1 million of Adjusted EBITDA¹, primarily driven by production from the Longanesi field. Since commencing production last year, Longanesi has continued to perform well, and the field remains on track to outperform our initial expectations.

At the same time, we continue to execute on our broader growth strategy. With a solid balance sheet, positive cash flow, and a growing asset base, we believe AleAnna is well-positioned to deliver sustainable long-term value for our shareholders. In the current energy environment, we also believe the Company is uniquely positioned to contribute to Italy's energy security through increased domestic natural gas production while creating meaningful value for our stakeholders.”

About AleAnna

AleAnna is a technology-driven energy company, focused on growing gas production in Italy and helping drive Italy’s energy future. Further details can be found on our website at www.aleannainc.com/AboutAleAnna.

Forward-Looking Statements

The information included herein contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Certain statements, other than statements of present or historical fact included herein regarding AleAnna’s future operations, production, financial position, plans and objectives are forward-looking statements. AleAnna’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements, which speak only as of the date made. A list and descriptions of these risks, uncertainties and other factors can be found in AleAnna’s most recent Annual Report on Form 10-K, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and in AleAnna’s subsequent Quarterly Reports on Form 10-Q and other filings with the Securities Exchange Commission (“SEC”). SEC filings are available on the SEC’s website at www.sec.gov. Except as otherwise required by applicable law, AleAnna disclaims any duty to update any forward-looking statements, all expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof.

Investor Relations Contact
Ivan Ronald
ironald@aleannagroup.com

Website
https://www.aleannainc.com/

^[1] This is a non-GAAP financial measure. Refer to Non-GAAP Performance Measures and Definitions for further details.

Non-GAAP Performance Measures and Definitions

In addition to amounts presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”), we also present certain supplemental non-GAAP performance measures. We believe that the presentation of non-GAAP financial measures provides both management and investors with a greater understanding of the Company's operating results and trends in addition to the results measured in accordance with GAAP and provides greater comparability across time periods. These measures are not to be considered more relevant or accurate than the measures presented in accordance with GAAP. The non-GAAP financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similarly titled measures used by other companies. In compliance with the requirements of the SEC, our non-GAAP measures are reconciled to net income, the most directly comparable GAAP performance measure. For all non-GAAP measures, neither the SEC nor any other regulatory body has passed judgment on these non-GAAP measures.

EBITDA and Adjusted EBITDA

EBITDA and Adjusted EBITDA are both non-GAAP financial measures. EBITDA is calculated as net income (loss) before interest expense and other income, taxes, depreciation, depletion and amortization. The purpose of presenting EBITDA and Adjusted EBITDA is to highlight earnings without finance, taxes, and depreciation and depletion expense, as well as stock compensation and transaction expense, and its use is limited to specialized analysis. We adjust EBITDA for stock compensation and one-off activities such as the remeasurement of the asset retirement obligation to reach Adjusted EBITDA. We present EBITDA and Adjusted EBITDA because we believe it provides useful additional information to investors for specialized analysis of our performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance, such as transactions expenses, share-based compensation, and other non-recurring costs.

The following table presents a reconciliation of Adjusted EBITDA to net income for the three and six months ended June 30, 2026 and 2025:

Featured Image: Depositphotos @ Iurii

Disclaimer

Key Takeaways: 

• Parsons secured the first task order issued under DTRA’s CTRIC IV contract, reinforcing the company’s position as a trusted partner in delivering integrated threat reduction solutions worldwide.
• The program supports U.S. Pacific Command (USPACOM) priorities by strengthening regional chemical threat monitoring and response capabilities.
• Parsons will deliver training, exercises, and workshops to enhance partner nation capabilities across Southeast Asia, including Malaysia, Indonesia, and the Philippines.

CHANTILLY, Va., Aug. 13, 2026 (GLOBE NEWSWIRE) — Parsons Corporation (NYSE: PSN) announced today it has secured the first task order under the Defense Threat Reduction Agency’s (DTRA) Cooperative Threat Reduction Integration Contract (CTRIC) IV, marking an early milestone on the contract vehicle and reinforcing the company’s leadership in countering weapons of mass destruction.

Under the task order, Parsons will support DTRA’s Global Threat Reduction directorate by designing and delivering chemical security training across Southeast Asia. The effort will strengthen partner nation capabilities in countries such as Malaysia, Indonesia, and the Philippines through training courses, exercises, and workshops that enhance preparedness, detection, and response to chemical threats.

“This award reflects our long-standing partnership with DTRA and commitment to advancing global threat reduction programs,” said Martin Boson, president of Engineered Systems for Parsons. “By delivering scalable solutions, training, and mission support, we are helping allied nations strengthen detection, response, and mitigation capabilities while supporting broader security objectives in Southeast Asia.”

The program supports USPACOM priorities by enhancing partner-nation capacity to monitor and secure chemical materials of concern, helping reduce risk and improve collective security outcomes.

The award represents a significant milestone for Parsons as the first task order issued under the CTRIC IV contract, reinforcing the company’s position as a trusted partner in delivering integrated threat reduction solutions worldwide.

Parsons brings decades of experience supporting DTRA, and this award further positions the company to continue supporting the Global Threat Reduction Directorate in addressing evolving weapons of mass destruction threats worldwide.

To learn more about Parsons’ global security and mission solutions, visit parsons.com/security-and-mission-solutions/.

About Parsons
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn to learn how we’re making an impact.

Media Contact:
Bernadette Miller
+1 980.253.9781
bernadette.miller@parsons.com

Investor Relations Contact:
Dave Spille
+1 703.775.6191
Dave.Spille@parsons.us

Featured Image: Megapixl @ Drx

Disclaimer

TORONTO, Aug. 13, 2026 (GLOBE NEWSWIRE) — Kraken Robotics Inc. (“Kraken” or the “Company”) (TSX-V: PNG, OTCQB: KRKNF) announces that it will release its second quarter 2026 financial results prior to the opening of markets on Thursday, August 27, 2026. Kraken’s management will hold a conference call at 8:30 a.m. ET the same day to discuss the Company’s results and outlook.

Participants can listen to this event at the webcast details below, or by dialing 1-833-752-3301 (North America) or +1-647-846-2734 (International) and asking to be connected to the Kraken Robotics call. A recording will also be available following the call.

Webcast Details:

• Date: Thursday, August 27, 2026
• Time: 8:30 a.m. ET

Registration URL: https://event.choruscall.com/mediaframe/webcast.html?webcastid=7UYSQnvx

ABOUT KRAKEN ROBOTICS INC.

Kraken Robotics is a global marine technology company transforming subsea intelligence through advanced sensors, software, and integrated systems. Serving defence, offshore energy, and ocean science markets, the company delivers actionable insights in challenging underwater environments. Kraken’s integrated subsea solutions span sonar, navigation, positioning, imaging, power, communications, monitoring, and data analytics.

On July 2, 2026, Kraken Robotics acquired the Covelya Group, bringing together Sonardyne, EIVA, Forcys, Voyis, and Chelsea Technologies. Together, the companies combine highly skilled global teams with a shared commitment to solving complex underwater challenges through world-class, dual-use technologies.

LINKS:
www.krakenrobotics.com

SOCIAL MEDIA:
LinkedIn www.linkedin.com/company/krakenrobotics
Twitter www.twitter.com/krakenrobotics
Facebook www.facebook.com/krakenroboticsinc
YouTube www.youtube.com/channel/UCEMyaMQnneTeIr71HYgrT2A
Instagram www.instagram.com/krakenrobotics

Certain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release.

For further information:

Erica Hasenfus, Director of Global Marketing
erica.hasenfus@krakenrobotics.com

Kraken Robotics Inc.
+1 709-757-5757
investors@krakenrobotics.com

Featured Image: Megapixl @ Silroby

Disclaimer

Key Highlights

• Record Q2 revenue of approximately $4.5 million, representing another all-time high for the Company.
• Nation's second-largest warehouse club transitions BranchOut's Crunchy Fruit Chips to an approximately $8 million annual everyday program in 309 clubs beginning in September with an opportunity to expand store count next year.
• Production planned to nearly double to 70–80 metric tons per month as major customer programs begin ramping.
• Additional estimated $2 million Tropical Mix order secured with the same retailer, with shipments beginning in December and potential to become another everyday item.
• Five-product launch, hits the target, with a leading U.S. mass retailer beginning in September expands BranchOut's branded platform into a major new retail customer.
• Ingredient business continues accelerating, with multiple new commercial wins and growing adoption by large CPG companies.
• Based on current booked orders, management estimates Q4 revenue of approximately $6-7 million. Factory utilization is expected to double by September, driving meaningful margin expansion through improved operating leverage.

BEND, Ore., Aug. 13, 2026 (GLOBE NEWSWIRE) — BranchOut Food Inc. (NASDAQ: BOF), a food technology company pioneering next-generation fruit, vegetable, and dairy-based snacks through its proprietary GentleDry technology, today provided a business update following another record quarter and outlined management's expectations for what it believes will be a transformational fourth quarter and beyond as major customer programs significantly ramp.

Record Q2 Summary

BranchOut generated record second quarter revenue of approximately $4.5 million, representing another all-time quarterly high for the Company. Growth was driven by continued execution across both its branded retail and rapidly expanding ingredient businesses while positioning the Company for substantially higher production volumes in the second half of 2026.

The second quarter represented an important investment period as the Company prioritized securing large, recurring customer programs over maximizing short-term profitability. To support the initial launch of its Crunchy Fruit Mix with the nation's second-largest warehouse club retailer, BranchOut incurred one-time costs associated with first-time production scale-up, expedited freight, marketing support, and in-store demonstrations. While these investments temporarily pressured margins, they ultimately resulted in the product being accepted as an approximately $8 million annual everyday program, allowing the Company to transition to continuous production with significantly improved manufacturing efficiencies and margins.

Similarly, BranchOut produced significant volumes of strawberries for its ingredient business during the quarter at a time when raw material costs were nearly twice normal seasonal pricing. Although this reduced margins on those initial shipments, the Company secured substantially larger recurring strawberry programs that will be produced during season under planned purchasing contracts, which management expects will generate gross margins of approximately 40%.

Management believes these strategic investments have established a growing base of recurring business that positions the Company for significantly higher production volumes and stronger profitability beginning in the fourth quarter.

Nation's Second-Largest Warehouse Club Expands Everyday Business

Following exceptional consumer response, BranchOut's Crunchy Fruit Chips have transitioned from a one time order to an approximately $8 million annual program across 309 clubs, with shipments beginning in September.

Building on that success, the retailer also awarded BranchOut an additional estimated $2 million Tropical Mix order, with shipments expected to begin in December. Management believes the product has the potential to become another everyday offering following its initial launch.

Leading U.S. Mass Retailer Launch Begins in September

BranchOut will launch five branded products with a leading U.S. mass retailer beginning in September, significantly expanding the Company's branded platform into a major new retail customer. The launch includes both fruit snacks and new vegetable- and dairy-based products, demonstrating the expanding capabilities of the GentleDry platform.

Ingredient Business Becoming a Major Growth Engine

The Company's ingredient business continues to accelerate through multiple new commercial wins and growing ingredient integration by large CPG companies. After generating approximately $2 million in revenue during 2025, management expects this business to grow to approximately $6-7 million in 2026 and believes it has the potential to exceed $10 million in 2027. As customers continue expanding their use of BranchOut's premium fruit and vegetable ingredients across multiple commercial applications, management expects the ingredient business to become an increasingly important driver of production volume, factory utilization, and profitability.

Production Expected to Nearly Double

To support these new customer programs, BranchOut expects monthly production to increase from approximately 35-40 metric tons to 70-80 metric tons as production ramps through the second half of 2026 based on booked orders.

Management believes this approximately 2X increase in factory utilization will significantly improve manufacturing efficiency, reduce fixed manufacturing overhead per pound by roughly half, lower unit costs, and create meaningful margin improvements.

Outlook for Q4 and Beyond

Based on current booked orders, management estimates Q4 revenue of approximately $6-7 million, delivery timing depended. The Company believes this represents a significant step function in revenue and positions BranchOut for profitability, with much of the expected growth driven by recurring everyday customer programs.

"We believe BranchOut is entering the most exciting period in the Company's history," said Eric Healy, Chief Executive Officer of BranchOut Food. "Over the past two years since opening our factory, we have focused on building customer relationships, expanding our manufacturing capabilities, and developing innovative products that differentiate us in the marketplace. Those investments are now translating into significantly higher production volumes, improving margins, and a growing base of recurring business. As we approximately double factory utilization over the coming months, we believe BranchOut is well positioned to deliver sustained profitable growth and create long-term value for our shareholders."

About BranchOut Food Inc.
BranchOut Food is a leading international food technology company, specializing in the production of high-quality dehydrated fruit and vegetable-based products through its proprietary GentleDry Technology. This next-generation dehydration method preserves up to 95% of the original nutrition of fresh produce, offering superior quality and taste. Protected by over 17 patents, BranchOut’s technology enables it to stand out as a trusted brand, ingredient and a private-label supplier. For more information, visit www.branchoutfood.com or follow us on social media here.

For more information:
ir@branchoutfood.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations or forecasts of future events. Forward-looking statements may be identified using words such as "forecast," "intend," "seek," "target," "anticipate," "believe," "expect," "estimate," "plan," "position," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements with respect to the operations of BranchOut Food, Inc., (the Company) strategies, prospects and other aspects of the business of the Company are based on current expectations that are subject to known and unknown risks and uncertainties, which could cause actual results or outcomes to differ materially from expectations expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Although it may voluntarily do so from time to time, the Company undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Featured Image: I stock @ fcafotodigital

Disclaimer

NEW YORK, Aug. 13, 2026 (GLOBE NEWSWIRE) — Figure Technology Solutions (Nasdaq: FIGR; OPEN: FGRS), the leading blockchain-native capital marketplace for the origination, funding, sale and trading of tokenized assets, today announced financial results for the three and six months ended June 30, 2026.

“We delivered our strongest quarter yet, headlined by 132% year-over-year volume growth in our Consumer Loan Marketplace, the addition of over 100 origination partners, and the scaling of our capital-light marketplace, with 65% of our volumes now on Figure Connect. With weekly applications now surpassing $1 billion as of July and the pending completion of our Kiavi acquisition, which we expect will significantly grow our platform into adjacent asset classes, we are accelerating our growth flywheel and our first-mover advantage in bringing the capital markets on-chain.”

– Michael Tannenbaum, CEO

Q2 2026 Quarterly Financial Highlights

• Consumer Loan Marketplace volume was $4.3 billion in the quarter, a 132% increase from the prior year. This included Figure Connect Volume of $2.8 billion.
• Net revenue was $226 million, an increase of 113% year-over-year. Adjusted Net Revenue was $218 million, an increase of 95% from the second quarter of 2025.
• Net income increased 192% to $87 million; net income margin reached 38.8%, an increase of 11 percentage points year-over-year.
• Adjusted EBITDA increased 126% year-over-year to $119 million; Adjusted EBITDA margin reached 54.6%, an increase of 7 percentage points year-over-year.
• Cash and cash equivalents, excluding restricted cash, totaled $1.4 billion, an increase of $239.4 million, or 20.0%  compared to December 31, 2025.
• Loans held for sale totaled $597 million, an increase of $193.1 million, or 47.7%, compared to December 31, 2025.

Financial Highlights

⁽¹⁾ See “Non-GAAP Financial Measures” at the end of this earnings release for details regarding these measures, including reconciliations of the Non-GAAP Financial Measures to their most directly comparable GAAP measures.

Selected Metrics

Recent Business Highlights

• Figure Connect reached 65% of Consumer Loan Marketplace volume in the quarter. Figure Connect was launched in June 2024. 
• Added 102 origination partners in the quarter, reaching 489 total active partners across mortgage banks, depositories, servicers, and fintechs. 
• New product categories continued to accelerate, with Small/Medium Business (“SMB”) loan volume increasing 57% quarter-over-quarter. 
• Third-party borrowing activity on Democratized Prime reached approximately $170 million as of August 6, 2026, a ~23x increase since December 31, 2025. 
• Launched SMB pools on Democratized Prime, adding another diversified asset class to the Figure funding ecosystem along with Auto and Home Equity. 
• Demonstrated strong operational efficiency as operations and processing costs declined to approximately 67 basis points of Consumer Loan Marketplace volume, down from 79 basis points in Q2 2025. 
• Kiavi, inc. transaction remains on track to close in the second half of 2026.

Operating Outlook

The guidance for Consumer Loan Marketplace volume provided below constitutes forward-looking information within the meaning of applicable securities laws and is based on a number of assumptions and subject to a number of risks. See cautionary note regarding “Forward-looking Statements” in this press release.

Webcast Information

Figure will host a conference call and webcast at 8:30 a.m. Eastern Time, August 13, 2026 to discuss its results and outlook. A link to the live discussion and accompanying presentation will be made available on the Company’s investor relations website at https://investors.figure.com/. A replay will also be made available following the discussion at the same website.

Forward-Looking Statements Disclosure

This press release contains forward-looking statements intended to be covered by the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release, including without limitation statements regarding our pending Kiavi acquisition and the related anticipated benefits, future financial performance and guidance, including our expectations regarding our Consumer Loan Marketplace Volume; our ability to determine reserves, and ability to remain profitable; our ability to maintain, expand, and enter into new relationships with partners and loan purchasers on the secondary market; our ability to broaden our network of partners; and our ability to successfully execute our business and growth strategy; marketplace volume, adoption, and liquidity, including the growth and performance of our Consumer Loan Marketplace, Figure Connect, and Democratized Prime platforms; our blockchain ecosystem and infrastructure initiatives, including our ability to expand the adoption of our blockchain-native products and services and the development and performance of our digital asset offerings; and our share repurchase program, including the timing, number of shares, and prices at which repurchases may occur. These statements involve known and unknown risks, uncertainties, and other important factors that may cause actual results to differ materially from those expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” or “continue,” or the negative of these terms, and similar expressions. Forward-looking statements are predictions based largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. These statements speak only as of the date of this press release.

Important factors that could cause actual results to differ materially include, among others: our history of losses and the risk that we may not maintain profitability; our reliance on HELOCs and exposure to fluctuations in the HELOC market and housing values; our ability to attract and retain borrowers, partners, and loan purchasers and to drive adoption of Figure-branded and Partner-branded channels including Figure Connect; loan performance and default rates and the effect of credit performance on access to and pricing of warehouse facilities, whole-loan sales, and securitizations; changes in interest rates and U.S. monetary policy that impact originations, funding costs, and investor demand; legal and regulatory risks affecting lending and mortgage-related activities and the evolving framework for digital assets, including potential changes in the characterization or regulation of certain digital assets and related products; dependence on key third-party providers including cloud, custodial, valuation, and data vendors and risks from outages or service disruptions; technology failures, cybersecurity incidents, or other operational disruptions; protection and enforcement of intellectual property; compliance with licensing, consumer protection, privacy, data security, and sanctions/AML laws, and shifting enforcement priorities at the federal and state levels; our ability to remediate previously identified material weaknesses and meet our public company reporting and internal control obligations; competition; macroeconomic and geopolitical conditions; our dual-class structure and concentrated voting control and related impacts on corporate governance; equity market volatility affecting our Class A common stock; and the other risks described in “Risk Factors” in our Annual Report on Form 10-K for the period ended December 31, 2025, filed with the SEC on March 16, 2026, and in our other filings with the SEC.

You should read this press release and the documents we reference in it with the understanding that actual future results may differ materially from our expectations. We qualify all forward-looking statements in this press release by these cautionary statements. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements contained herein, whether as a result of new information, future events, changed circumstances, or otherwise.

About Non-GAAP Financial Measures and Key Operating Metrics

Financial Measures

To help understand our financial performance, we use several key performance metrics that should be viewed independently of GAAP items, as these metrics are not intended to be combined with those items. Our determination and presentation of these metrics may differ from that of other companies. The presentation of these metrics is meant to be considered in addition to, not as a substitute for or in isolation from, our financial measures prepared in accordance with GAAP.

Key Operating Metrics

Ecosystem Volume

We define Ecosystem Volume as the total of Consumer Loan Marketplace Volume and Digital Asset Marketplace Volume.

Consumer Loan Marketplace Volume

We define Consumer Loan Marketplace Volume as the total U.S. dollar equivalent value of originations of HELOCs, DSCR, and personal loans on our loan origination system, as well as the volume of third-party loans traded on Figure Connect. We believe this measure is an indication of our scale and represents a potential revenue opportunity from the technology used for consumer credit loan originations.

Net Take Rate

Net Take Rate is derived from the sum of ecosystem and technology fees, origination fees, gain on sale of loans, net and gain on servicing asset, net from our consolidated statement of operations. These items represent revenue generated from Figure-branded and Partner-branded volume. Valuation changes in fair value of mortgage servicing rights, which we believe are not indicative of operating performance, and marketing expenses in our operating expenses are deducted. This net amount is divided by overall Consumer Loan Marketplace Volume for that period.

$YLDS In Circulation

We define $YLDS in Circulation as the total U.S. dollar equivalent value of unsecured face-amount certificates solely backed by the assets of Figure Certificate Company (FCC), which is the issuer of the certificates. This is reported as an end of period outstanding balance.

Matched Offers

We define Matched Offers as the U.S. dollar equivalent value of offers matched between borrower and lenders on the Democratized Prime platform. This is reported as an end of period outstanding balance.

Borrower Demand

We define Borrower Demand as the U.S. dollar equivalent value that borrowers seek to borrow from the lending pool on the Democratized Prime platform. This is reported as an end of period outstanding balance.

Available Lender Supply

We define Lender Supply as the U.S. dollar equivalent value that lenders have made available in the lending pool on the Democratized Prime platform. This is reported as an end of period outstanding balance.

Non-GAAP Financial Measures

Adjusted Net Revenue

Adjusted Net Revenue is a non-GAAP financial measure used by our management to evaluate operating performance. Accordingly, we believe this measure provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and board of directors. In addition, Adjusted Net Revenue provides a useful measure for period-to-period comparisons of our business, as it removes the effect of a non-cash, non-realized adjustment that is included in net revenue. Adjusted Net Revenue is defined as net revenue excluding the change in fair value of MSR and change in fair value of marketable securities associated with changes in our estimates that management has determined are not reflective of our operating performance, and net of interest paid to holders of YLDS.

Adjusted EBITDA and Adjusted EBITDA Margin

Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial measures used by our management to evaluate operating performance, generate future operating plans, and make strategic decisions, including those relating to operating expenses and the allocation of internal resources. Accordingly, we believe these measures provide useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and board of directors. In addition, these measures provide useful information for period-to-period comparisons of our business, as it removes the effect of certain non-cash items, variable charges, non-recurring items, unrealized gains or losses or other similar non-cash items that are included in net income or expenses associated with the early stages of the business that are expected to ultimately terminate, pursuant to the terms of certain existing contractual arrangements or expected to continue at levels materially below the historical level, or that otherwise do not contribute directly to management’s evaluation of its operating results. Adjusted EBITDA is defined as net income excluding interest expense incurred in connection with our debt obligations other than debt associated with our funding of loans held for sale, income taxes, amortization and depreciation expense, stock-based compensation expense, non-cash changes in certain financial instruments, and other items that management has determined are not reflective of our ongoing operating performance. Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by adjusted net revenue. The most directly comparable GAAP measure is net income margin (calculated as net income divided by total net revenue).

The Company added valuation changes in the fair value of marketable securities and YLDS funding costs to its definition of Adjusted Net Revenue, and valuation changes in the fair value of marketable securities, to its definition of Adjusted EBITDA effective March 31, 2026. Additionally, the Company added acquisition-related costs to its definition of Adjusted EBITDA effective June 30, 2026. Prior period amounts presented in the reconciliation table below have been recast to reflect the current methodology to facilitate period-over-period comparability.

Management excludes period-to-period changes in the fair value of marketable securities from Adjusted Net Revenue and Adjusted EBITDA because they reflect non-cash, unrealized mark-to-market fluctuations driven by external market factors, including changes in discount rates, prepayment speeds, and credit spreads, that are not reflective of the Company's underlying operating performance.

The Company’s economic benefit from YLDS is the 35 basis point spread it retains on outstanding balances, regardless of the total amount of YLDS in circulation. Management therefore presents YLDS-related interest expense net of associated interest income within Adjusted Net Revenue, as it believes this net spread is the most meaningful measure of the YLDS's contribution to operating performance.

The following table presents a reconciliation of Total Net Revenue to Adjusted Net Revenue, Net Income to Adjusted EBITDA and Net Income margin to Adjusted EBITDA margin for the three and six months ended June 30, 2026 and 2025:

^(A) The Company added valuation changes in the fair value of marketable securities and YLDS funding costs to its definition of Adjusted Net Revenue, and valuation changes in the fair value of marketable securities to its definition of Adjusted EBITDA effective March 31, 2026. Additionally, the Company added acquisition-related costs to its definition of Adjusted EBITDA effective June 30, 2026. These adjustments have been applied retrospectively to all periods presented.

About Figure

Figure Technology Solutions, Inc. (Nasdaq: FIGR; OPEN: FGRS) is the leading blockchain-native capital marketplace for the origination, funding, sale and trading of tokenized assets. More than 480 partners use its loan origination system and capital marketplace. Collectively, Figure and its partners have originated over $30 billion of loans to date, among other products. The fastest growing components are Figure Connect, its consumer credit marketplace, and Democratized Prime, Figure’s on-chain lend-borrow marketplace. Figure’s ecosystem also includes DART (Digital Asset Registry Technology) for asset custody and lien perfection, and $YLDS, an SEC-registered yield-bearing stablecoin security that operates as a tokenized money market fund.

Figure is the market leader in real-world asset (RWA) tokenization. The company has received AAA ratings from S&P and Moody’s on multiple loan securitizations, the first of its kind for blockchain finance. For more information, visit https://figure.com or follow Figure on LinkedIn.

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BOXABL invites companies, landholders, talent, and inventions across the housing supply chain to join forces, with the opportunity for flexible deal structures

LAS VEGAS, Aug. 13, 2026 /PRNewswire/ — BOXABL Inc. (Nasdaq: BXBL), an innovative technology company transforming the housing market with its modular building systems, announces the launch of a new section of BOXABL’s website to encourage partnerships aimed at assembling the full suite of capabilities needed to make housing affordable at mass-production scale.

BOXABL envisions that potential partnerships may include whole-business acquisitions, mergers, joint ventures, land contributions, talent additions, and technology or intellectual property deals across the housing value chain. As part of this effort, the Company also said it is open to evaluating M&A opportunities more broadly where a combination could accelerate its mission to make housing affordable at scale.

“Housing is too expensive right now, and every year we spend inventing something that already exists is a year homes stay unaffordable,” said Galiano Tiramani, BOXABL Founder and Co-CEO. “If someone has already solved a piece of it, the fastest path is to bring them in — not to start over in-house and hope we catch up.”

Four Areas of Focus

BOXABL is prioritizing partnerships across four categories:

• Companies — Manufacturers, installers, dealers, lenders, haulers, and suppliers of any size.
• Land — Raw, entitled, infill, or acreage parcels.
• Talent — Operators with experience building, moving, selling, and financing housing. The Company describes talent acquisition as “the real reason we do deals,” noting that this kind of operating experience cannot be bought off a shelf.
• Inventions — Patents, prototypes, tooling, manufacturing processes, and software that address any piece of the affordable-housing problem, from faster panel systems to cheaper connections to better factory-line design.

Where BOXABL Is Looking

The Company identified specific areas where it is seeking partners, including factories and fabrication facilities, developers and landholders, installation and site-work contractors, transport and logistics operators, lending and finance providers designed for factory-built housing, sales and dealer networks, automation and software providers, and materials and systems suppliers. BOXABL also said it welcomes pitches for ideas, patents, or businesses that fall outside these categories but that could still make housing more affordable.

Flexible Deal Structures

BOXABL said all transactions considered under the program will be evaluated individually, with flexible structures that may include cash, stock, or a combination of both, depending on the requirements of a specific transaction. The Company is directing interested parties — including companies, landholders, operators, and inventors — to submit expressions of interest through its website or by phone. BOXABL noted that any submission is non-binding and creates no offer, agreement, or obligation on the part of either party, and that any transaction would be subject to due diligence, definitive documentation, and applicable approvals.

Interested parties can submit an expression of interest by filling out the form at www.boxabl.com/mergers#interest.

About BOXABL

Since its inception in 2017, BOXABL has raised over $230 million from more than 50,000 investors. The North Las Vegas-based company is dedicated to transforming the housing industry through innovative technology and design, with a mission of making housing affordable at mass-production scale. BOXABL’s flagship product, the Casita, is a 361-square-foot studio unit with a full kitchen, bathroom and utilities that unfolds on-site in under an hour. The Company also offers the smaller 120-square-foot Baby Box and is developing stackable and connectable modules designed to form townhomes, multifamily units, and larger single-family homes. BOXABL began trading on the Nasdaq Stock Market under the ticker symbol “BXBL” on July 20, 2026, following the completion of its business combination with FG Merger II Corp.

Forward-Looking Statements

This communication includes “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements may be identified by the use of words such as “plan,” “project,” “will,” “estimate,” “intend,” “expect,” “believe,” “target,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. We have based these forward-looking statements on current expectations and projections about future events. These statements include: projections of market opportunity and market share; estimates of customer adoption rates and usage patterns; projections of development and commercialization costs and timelines; expectations regarding BOXABL’s ability to execute its business model and the expected financial benefits of such model; expectations regarding BOXABL’s ability to attract, retain, and expand its customer base; BOXABL’s deployment of Casita; BOXABL’s expectations concerning relationships with strategic partners, suppliers, governments, regulatory bodies and other third parties; future ventures or investments in companies, products, services, or technologies; development of favorable regulations and government incentives affecting BOXABL’s markets; the potential benefits of any proposed transaction and expectations related to its terms and timing; and the potential for BOXABL to increase in value.

These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions, many of which are beyond the control of BOXABL.

In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this communication, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely upon these statements.

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SOURCE Boxabl

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WUHAN, China, Aug. 13, 2026 /PRNewswire/ — China Automotive Systems, Inc. (NASDAQ: CAAS) (“CAAS” or the “Company”), a leading power steering components and systems supplier in China, today announced its unaudited financial results for the first six months ended June 30, 2026.

First Six Months of 2026 Highlights

• Net sales grew by 20.1% year-over-year to a record $412.5 million, compared to $343.3 million in the first six months of 2025.
• Gross profit increased by 49.7% year-over-year to $88.5 million, compared to $59.1 million in the first six months of 2025; gross profit margin increased to 21.5% in the first six months of 2026.
• Income from operations rose by 100.4% year-over-year to $43.3 million compared to income from operations of $21.6 million in the first six months of 2025.
• Net income attributable to parent company’s common shareholders increased by 98.8% to $29.3 million from $14.7 million in the first six months of 2025.
• Diluted earnings per share attributable to parent company’s common shareholders increased by 98.0% to $0.97 compared with $0.49 in the first six months of 2025.
• Cash, cash equivalents and pledged cash were $155.6 million, or approximately $5.16 per share, as of June 30, 2026.

Mr. Qizhou Wu, Chief Executive Officer of CAAS, commented, “Our profit growth accelerated in the first half of 2026 with strong net sales in an overall sluggish economy in China.  We had growth across the board in our major operating units, except for our Brazilian subsidiary, with three operations achieving net sales growth exceeding 40% in the first six months of 2026.  Net sales of our electric power steering (“EPS”) products grew by 32.2% year-over-year and now represent 46.8% of total net sales in the first half of 2026.  Our Henglong KYB subsidiary, which is mainly engaged in providing passenger EPS products, has grown into the second largest contributor to net sales.  In addition to the growth in our passenger vehicle steering systems, our net sales of commercial vehicle steering systems continued to improve with an even stronger sales growth of over 40% year-over-year in the first half of 2026.”

“Our growth contrasts with Chinese automotive vehicle performance as data from the China Association of Automotive Manufacturers (“CAAM”) disclosed that vehicle production and sales fell 4.0% and 4.1% year-on-year, respectively, in the first half of 2026.  Passenger vehicle sales fell by approximately 6.0% in the first half of 2026.  Retail sales of ICE vehicles fell while NEV sales reached 49.6% of all new-vehicle sales and battery EVs represented approximately 67% of total NEV sales.  Higher fuel costs and a reduction in EV subsidies in China impacted vehicle demand.”

“Our investment into research and development increased by 23.6% as we accelerate our transition into higher technology products.  A growing number of our steering products are capable of autonomous driving functions such as automatic parking, lane keep assist (“LKA”) and lane follow assist (“LFA”) as well as rear-wheel active steering.  These features are driving higher demand, presenting stronger growth opportunities for the future.”

“International sales continue to grow as our customer base has expanded and more vehicle models are now powered by our products.  After over 30 years’ relentless pursuit for high quality, advanced technologies and superior value, we have become a tier-1 supplier to large global OEM customers in North America, Europe, Asia and South America.  In late 2025, we won a contract for our C-EPS (column-assist electric power steering) for a new vehicle platform from a leading South American-based automotive manufacturer.  This contract highlights the first large-scale entry of our EPS systems into the South American automotive supply chain.  Planned annual sales volume is over 300,000 units with mass production expected in early 2028.  This contract partially resulted from the successful launch of similar C-EPS products for the European markets.”

“Subsequently, in 2026, the first batch of EPS steering was shipped to a global automaker’s European division. This particular EPS steering model is featured in two new European vehicle models with more vehicles targeted.  Annual sales volume is expected to reach approximately 300,000 units.”



“This project achieved a number of strict technical and quality innovations, including new testing methods, software upgrades, a state-of-the-art production line powered by eight modern manufacturing technologies including seamless integration of manufacturing execution system (“MES”) with automated guided vehicles (“AGV”), computer vision Poka-Yoke, and 100% autonomous robotic inspection.”

“In 2026, we announced a new 2026-2030 ‘Strategic Plan’ committing to a new growth trajectory.  The main pillars are focused on deepening local presence in global markets, and developing additional cutting-edge steering technologies, new product markets, and “zero-defect” quality with platform-based, lean, automated manufacturing systems.  We believe this strategy will lead to increased volume among large vehicle OEMs and capture greater market share in the global automotive marketplace.”

Mr. Jie Li, Chief Financial Officer of CAAS, commented, “We continue to focus on maintaining our financial strength buoyed by net cash provided by operating activities of $47.8 million in the first half of 2026.  Cash, cash equivalents and pledged cash were $155.6 million, and working capital was nearly $249.8 million.  We grew our free cashflow to $14.3 million.  Our capital investments in property, plant and equipment were $30.4 million in the first half of 2026 as we continue to invest in our future.”

First Six Months of 2026

Net sales increased by 20.1% year-over-year to $412.5 million, compared to $343.3 million in the first half of 2025.  The net sales increase was mainly due to higher sales of electric power steering and the appreciation of the RMB against the USD. Net sales of traditional steering products and parts increased 11.2% year-over-year to $219.6 million in the first half of 2026.  Net sales of EPS products rose 32.2% year-over-year to $192.9 million from $145.9 million for the same period in 2025.  EPS product sales grew to 46.8% of the total net sales for the first half of 2026, compared to 42.5% for the same period in 2025. Net sales in our Henglong subsidiary, the largest contributor to sales, rose by 25.3% to $205.7 million, compared with $164.2 million for the first half of 2025.  Sales to North American customers increased by 3.5% to $59.2 million, compared to $57.2 million in the first half of 2025, primarily due to higher demand for passenger vehicle products by one customer.  Sales in Brazil declined by 5.1% in the first half of 2026 to $32.6 million from $34.4 million in the first half of 2025. Jiulong’s net sales to the Chinese commercial vehicle market increased 42.9% year-over-year to $61.7 million and our Wuhu subsidiary’s net sales to Chery Automotive Co., Ltd. rose by 40.3% year-over-year to $22.7 million in the first half of 2026.

Gross profit grew by 49.7% year-over-year to $88.5 million from $59.1 million in the first half of 2025.  Gross profit margin increased to 21.5% in the first half of 2026 from 17.2% in the first half of 2025.  The increase in gross profit was mainly due to product volume gains and greater sales of relatively higher-margin products.

Net gain on other sales increased to $2.1 million in the first half of 2026, compared to $1.6 million in the first half of 2025.

Selling expenses grew by 28.0% to $11.9 million in the first six months of 2026 compared with $9.3 million in the same period last year.  Higher selling expenses were a result of the sales and volume gains achieved in the first half of 2026.  Selling expenses represented 2.9% of net sales in the first half of 2026 compared with 2.7% in the first half of 2025.  

General and administrative expenses (“G&A expenses”) increased by 12.6% to $14.6 million, compared to $13.0 million in the first half of 2025 primarily due to higher office expenses.  G&A expenses represented 3.5% of net sales in the first six months of 2026, compared to 3.8% of net sales in the same period in 2025.    

Research and development expenses (“R&D expenses”) increased by 23.6% to $20.8 million in the first six months of 2026, compared with $16.8 million in the first half of 2025.  R&D expenses represented 5.0% of net sales, compared to 4.9% in the first six months of 2025.  Research and development programs include upgrades to enhance the performance and quality of current products, customizing products for specific customers, as well as further developing EPS and hydraulic steering systems, automotive intelligence and software technologies, automobile electronics, high-polymer materials, and manufacturing technologies.

Other income, net was $6.9 million in the first half of 2026, compared to $3.0 million in the same period last year. The increase was mainly due to the decrease in the loss on disposal of property, plant and equipment.

Income from operations climbed 100.4% to $43.3 million in the first six months of 2026 from $21.6 million in the first six months of 2025.  This gain reflected greater sales, higher gross profit and margins, and effective cost controls.  

Interest expense was stable at $0.8 million in the first half of 2026 and 2025.  

Net financial expense was $2.9 million in the first half of 2026, compared to net financial income of $3.3 million in the first half in 2025.  This change in net financial income was primarily due to foreign exchange volatility. 

Income before income tax expenses and equity in earnings of affiliated companies increased by 71.3% to $46.5 million in the first half of 2026, compared to $27.2 million in the same period in 2025.  The change in income before income tax expenses and equity in earnings of affiliated companies was mainly due to higher income from operations and higher other income, net in the first half of 2026.

Income tax expense was $9.9 million in the first half of 2026, compared to $7.0 million in the first half of 2025. The increase in income tax expense was primarily due to a higher income before income tax expenses in the first half of 2026.  The effective tax rate was 21.3% in the first six months of 2026, compared with 25.7% in the same period last year.

Net income attributable to parent company’s common shareholders increased by 98.8% to $29.3 million in the first six months of 2026, compared to net income attributable to parent company’s common shareholders of $14.7 million in the first half of 2025.  Diluted earnings per share were $0.97 in the first half of 2026, compared to $0.49 per share in the same period in 2025.

The weighted average number of diluted common shares outstanding was 30,170,702 in each of the 2026 and 2025 six-month periods.

Balance Sheet

Cash and cash equivalents and pledged cash were $155.6 million, or approximately $5.16 per share, as of June 30, 2026.  Net working capital was $249.8 million.  Total accounts receivable including notes receivable were $362.4 million, accounts payable including notes payable were $361.5 million and short-term loans were $75.0 million.  Total parent company stockholders’ equity was $443.8 million as of June 30, 2026, compared to $401.3 million as of December 31, 2025.  Net cash provided by operating activities was $47.8 million with payments to acquire property, plant and equipment of $30.4 million.

Business Outlook

Management has raised revenue guidance for the fiscal year 2026 to $850.0 million.  This target is based on the Company’s current views on operating and market conditions, which are subject to change.

Conference Call

Management will conduct a conference call on August 13^th, 2026 at 8:00 A.M. EDT/8:00 P.M. Beijing Time to discuss these results.  A question-and-answer session will follow management’s presentation. To participate, please call the following numbers 10 minutes before the call start time and ask to be connected to the “China Automotive Systems” conference call with pin 763912:

Toll Free: 888-506-0062

International: 973-528-0011

China Toll Free: 86 400 120 3199

A replay of the call will be available on the Company’s website in the investor relations section.

About China Automotive Systems, Inc.

Based in Hubei Province, the People’s Republic of China, China Automotive Systems, Inc. is a leading supplier of power steering components and systems to the Chinese automotive industry, operating through its sixteen Sino-foreign joint ventures and wholly-owned subsidiaries. The Company offers a full range of steering system parts for passenger automobiles and commercial vehicles. The Company currently offers four separate series of power steering with an annual production capacity of over 8 million sets of steering gears, columns and steering hoses. Its customer base is comprised of leading auto manufacturers, such as China FAW Group, Corp., Dongfeng Auto Group Co., Ltd., BYD Auto Company Limited, Beiqi Foton Motor Co., Ltd. and Chery Automobile Co., Ltd. in China, and Stellantis N.V. and Ford Motor Company in North America. For more information, please visit: https://www.caasauto.com. 

Forward-Looking Statements

This press release contains statements that are “forward-looking statements” as defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our estimates and assumptions only as of the date of this press release. Our actual results may differ materially from the results described in or anticipated by our forward-looking statements due to certain risks and uncertainties.  As a result, the Company’s actual results could differ materially from those contained in these forward-looking statements due to a number of factors, including those described under the heading “Risk Factors” in the Company’s Annual Report on Form 20-F as filed with the Securities and Exchange Commission on April 22, 2026, and in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission.  Any of these factors and other factors beyond our control could have an adverse effect on the overall business environment, cause uncertainties in the regions where we conduct business, cause our business to suffer in ways that we cannot predict, and materially and adversely impact our business, financial condition and results of operations.  A prolonged disruption or any further unforeseen delay in our operations of the manufacturing, delivery and assembly process within any of our production facilities could continue to result in delays in the shipment of products to our customers, increased costs and reduced revenue.  We expressly disclaim any duty to provide updates to any forward-looking statements made in this press release, whether as a result of new information, future events or otherwise.

For further information, please contact:

Jie Li

Chief Financial Officer

China Automotive Systems, Inc.

jieli@chl.com.cn

Kevin Theiss

Awaken Advisors

+1-212-510-8922

Kevin@awakenlab.com 

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SOURCE China Automotive Systems

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Disclaimer

SHANGHAI, Aug. 13, 2026 /PRNewswire/ — Baozun Inc. (Nasdaq: BZUN and HKEX: 9991) (“Baozun”, the “Company” or the “Group”), a leading brand e-commerce solution provider and digital commerce enabler in China, today announced that it will release its unaudited financial results for the second quarter and the six months ended June 30, 2026 on Thursday, August 27, 2026, before the open of U.S. markets.

The Company will host a conference call to discuss the earnings at 7:30 a.m. Eastern Time on Thursday, August 27, 2026 (7:30 p.m. Beijing time on the same day).

Dial-in details for the earnings conference call are as follows:

A replay of the conference call may be accessible through September 3, 2026 by dialing the following numbers:

A live webcast of the conference call will be available on the Investor Relations section of Baozun’s website at http://ir.baozun.com. An archived webcast will be available through the same link following the call.

Safe Harbor Statements

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continues,” “ongoing,” “targets,” “guidance,” “going forward,” “looking forward,” “outlook” or other similar expressions. Statements that are not historical facts, including but not limited to statements about Baozun’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to Baozun’s filings with the United States Securities and Exchange Commission and its announcements, notices or other documents published on the website of The Stock Exchange of Hong Kong Limited. All information provided in this press release is as of the date hereof and is based on assumptions that Baozun believes to be reasonable as of this date, and Baozun undertakes no obligation to update such information, except as required under applicable law.

About Baozun Inc.

Founded in 2007, Baozun Inc. is a leader in brand e-commerce service, brand management, and digital commerce service. Baozun Inc. comprises three major business lines – Baozun e-Commerce (BEC), Baozun Brand Management (BBM) and Baozun International (BZI) and is committed to accelerating high-quality and sustainable growth. Driven by the principle that “Technology Empowers the Future Success”, Baozun’s business lines are devoted to empowering their clients’ business and navigating their new phase of development.

For more information, please visit http://ir.baozun.com.

For investor and media inquiries, please contact:

Baozun Inc.

Ms. Wendy Sun

Email: ir@baozun.com

View original content:https://www.prnewswire.com/news-releases/baozun-to-announce-second-quarter-2026-unaudited-financial-results-on-august-27-2026-302850613.html

SOURCE Baozun Inc.

Featured Image: Megapixl @ Alexandersikov

Disclaimer

TORONTO, Aug. 13, 2026 /CNW/ — TerraVest Industries Inc., (TSX: TVK) (“TerraVest” or the “Company”) announces its results for the third quarter ended June 30, 2026 and the declaration of its quarterly dividend.

THIRD QUARTER AND NINE MONTHS REVIEW AND OUTLOOK

Business Performance

Management believes that there are certain non‐IFRS financial measures that can be used to assist shareholders in analyzing the performance of TerraVest. The table below highlights certain financial results and reconciles net income to Adjusted earnings before interests, income taxes, depreciation and amortization (“Adjusted EBITDA”) for the third quarter and nine months ended June 30, 2026 and the comparative periods in fiscal 2025.

Sales for the third quarter and nine months ended June 30, 2026 were $460,894 and $1,311,809 versus $405,707 and $951,742 for the prior comparable periods. This represents increases of 14% and 38% respectively. TerraVest acquired all the issued and outstanding shares of KBK Industries, LLC (“KBK”) in January 2026, of Tankcon FRP Inc. (“Tankcon”) in May 2025, of Simplex, Inc. (“Simplex”) and L.B.T., Inc. (“LBT”) in April 2025 and of EnTrans Holding, Inc. (“Entrans”) in March 2025. In addition, TerraVest acquired the Canadian assets of Colter Energy LP and Colter Energy Services Canada Ltd. (“Colter”) in May 2026, of New Wave Energy Services Ltd. (“Wave”) in September 2025 and of Aureus Energy Services Inc. (“Aureus”) in January 2025. Excluding Colter, KBK, Tankcon and Simplex, sales for the third quarter ended June 30, 2026 were $404,904 versus $387,183 for the prior comparable period and excluding the same acquisitions plus LBT and Entrans, sales for the nine months ended June 30, 2026 were $807,382 versus $750,566 for the prior comparable period.

This represents increases of 5% and 8% respectively for TerraVest’s base portfolio. Wave and Aureus results can’t be excluded from TerraVest results as their activities have been fully integrated into one of TerraVest’s existing subsidiaries whose operations are similar in nature.

The increases in sales for TerraVest base portfolio businesses versus the prior comparable periods are mainly explained by the ramp-up of sales for large data center projects and growing demand for commercial and industrial storage tanks, partially offset by lower demand for tank trailers in the United States market. Additionally for the nine-month period, foreign exchange had an unfavorable impact of $7,568 on sales compared to the prior comparable period. Without this negative foreign exchange effect, the increase in sales would have been 9% on the base portfolio of businesses for the nine-month period ended June 30, 2026.

Net income for the third quarter and nine months ended June 30, 2026 were $35,604 and $83,559 versus $13,306 and $77,086 for the prior comparable periods. This represents increases of 168% and 8% respectively. For the third quarter ended June 30, 2026, the increase is mainly explained by the addition of KBK, a gain on foreign exchange as well as a gain on bargain purchase, partially offset by a lower favorable change in fair value of investment in equity instruments in fiscal 2026. For the nine-month period ended June 30, 2026, the slight increase is explained by the positive contributions of the 2026 and 2025 business acquisitions and a favorable change in fair value of contingent considerations due to the Entrans acquisition recognized in the first quarter of 2026, partially offset by the additional depreciation and amortization expenses, income tax expense and financing costs as a result of business acquisitions as well as an unfavorable change in fair value of investment in equity instruments. Other variances are also highlighted in the table above.

Adjusted EBITDA for the third quarter and nine months ended June 30, 2026 were $86,964 and $230,253 versus $68,098 and $182,685 for the prior comparable periods. This represents increases of 28% and 26% respectively, which is the result of the reasons explained above. Foreign exchange had an unfavorable impact on Adjusted EBITDA of $2,418 for the nine-month period ended June 30, 2026.

The table below reconciles cash flow from operating activities to Cash Available for Distribution for the third quarter and nine months ended June 30, 2026 and the comparative periods in fiscal 2025.

Cash flow from operating activities for the third quarter and nine months ended June 30, 2026 were $30,956 and $186,044 versus $27,957 and $98,785 for the prior comparable periods. This represents increases of 11% and 88% respectively. The increase for the third quarter is attributable to an increase in net income, partially offset by an unfavorable change in non-cash working capital items. The nine-month period increase is attributable to a favorable change in non-cash working capital items compared to the prior period, mainly explained by an increase in accounts payable and customer deposits, partially offset by an increase in inventories to support production ramp-up in many facilities.

Maintenance Capital Expenditures were $14,432 for the third quarter ended June 30, 2026 versus $4,571 for the prior comparable period representing an increase of 216%, mainly attributable to the Service segment as well as TerraVest’s portfolio growth following the 2026 and 2025 business combinations. During the third quarter ended June 30, 2026, TerraVest’s total purchase of property, plant and equipment (“PP&E”) paid was $23,861 of which $9,429 is considered growth capital. The growth capital expenditures incurred during the third quarter were primarily used to expand fiberglass manufacturing capacity and grow TerraVest’s leasing business.

Cash Available for Distribution for the third quarter and nine months ended June 30, 2026 increased by 31% and 19% respectively versus the prior comparable periods. The trend is a result of reasons explained above and elsewhere in this press release.

Outlook

In general, TerraVest’s portfolio of businesses continues to perform in line with management expectations, with two notable exceptions. Similar to previous quarters, demand for tank trailers continues to be soft, especially in the US market, while demand for industrial steel tanks, primarily driven by large data center projects, continues to be stronger than expected. The Company expects both trends to continue in the near term. Recent acquisitions have made a meaningful contribution, and we expect this to continue throughout this fiscal year. Opportunities to enhance performance through synergies between recent acquisitions and the base portfolio of businesses continue to exist and are a focus for management.

Ever-changing tariff announcements continue to create an environment of uncertainty in North America’s manufacturing sector. TerraVest does benefit from a diverse manufacturing footprint in North America that allows us to mitigate against direct tariff-related impacts. TerraVest continues to address the topic by leveraging both its footprint but also supply chain to minimize the impact on the company. TerraVest continues to monitor any potential tariffs support programs. However, the current context has resulted in softer demand for certain of TerraVest’s businesses.

The Company continues to make targeted investments to improve its manufacturing efficiency and expand its product lines, particularly in end markets where it has a meaningful presence.

Business Combinations

In May 2026, a partially-owned subsidiary of TerraVest, Green Energy Services Inc. (“GES”), entered into an acquisition agreement to acquire the Canadian assets of Colter. The acquisition was completed through Colter Energy Inc., a partially-owned new company formed by GES. Headquartered in Grande Prairie, Alberta, Colter provides well testing and production flowback services to the Western Canadian energy industry.

In January 2026, a wholly-owned subsidiary of TerraVest entered into a share purchase agreement to purchase all the issued and outstanding shares of KBK. Headquartered in Woodlands, Texas, KBK is a manufacturer of aboveground and underground fiberglass tanks and steel storage tanks for the convenience store (“c-store”), agricultural, chemical, infrastructure and energy markets.

TerraVest also acquired three other businesses that were not individually significant.

Subsequent event

In July 2026, TerraVest entered into an agreement to purchase all the issued and outstanding shares of Superior Pressure Vessels Inc. (“SPV”). SPV is a Canada-based manufacturer of storage tanks and transport trailers for liquid propane gas (“LPG”) and anhydrous ammonia (“NH3”), sold to propane and fertilizer distributors, and also provides truck and trailer service, repair and inspection. The total consideration for the transaction was $23,375 paid using the revolving operating credit facility.

CONSOLIDATED RESULTS OF OPERATIONS

The following section provides the financial results of TerraVest’s operations for the third quarter and nine months ended June 30, 2026 and the comparative periods in fiscal 2025.

Sales for the third quarter and nine months ended June 30, 2026 increased by 14% and 38% respectively versus the prior comparable periods. The reasons have been explained previously in this press release.

Gross profit for the third quarter and nine months ended June 30, 2026 increased by 12% and 24% respectively versus the prior comparable periods. This is primarily explained by the contribution of KBK, Tankcon, Simplex, LBT and Entrans, and the the ramp-up of sales for large data center projects, partially offset by a lower demand for tank trailers in the US market, a less favorable product mix and reduced activity levels in some of TerraVest’s base portfolio businesses.

Administration expenses for the third quarter and nine months ended June 30, 2026 decreased by 6% and increased by 42% respectively versus the prior comparable periods. The increase for the nine-month period was primarily driven by the addition of KBK, Tankcon, Simplex, LBT and Entrans. The decrease for the third quarter is attributable to lower amortization of acquisition-related intangible assets versus the comparable quarter.

Selling expenses for the third quarter and nine months ended June 30, 2026 decreased by 4% and increased by 18% respectively versus the prior comparable periods. The increase for the nine-month period is explained by the addition of KBK, Tankcon, Simplex, LBT and Entrans. Selling expenses are basically flat versus the comparable quarter.

Financing costs for the third quarter and nine months ended June 30, 2026 decreased by 8% and increased by 49% respectively versus the prior comparable periods. The increase is primarily explained by the additional interest expense on long-term debt and on lease liabilities as a result of the acquisition of KBK, Tankcon, Simplex, LBT and Entrans for the nine months ended June 30, 2026.

Other (gains) losses variance for the third quarter and nine months ended June 30, 2026 was mainly driven by a favorable change in fair value of contingent considerations from the Entrans acquisition (only for the nine-month period) and a gain on foreign exchange, partially offset by an unfavorable change in fair value of investment in equity instruments. In addition, the timing of the gain on bargain purchase realized in fiscal 2025 also explained the variance for the third quarter period.

Income tax expense variance for the third quarter and nine months ended June 30, 2026 is the result of the variation in taxable earnings and the timing of income tax expense adjustments.

As a result of the above, net income attributable to common shareholders for the third quarter and nine months ended June 30, 2026 increased by 174% and 9% respectively versus the prior comparable periods.

DIVIDENDS

TerraVest is pleased to announce that the Board of Directors has declared a quarterly dividend of $0.20 per common share payable on October 9, 2026 to shareholders of record as at the close of business on September 30, 2026.

Additional information can be found in TerraVest’s annual consolidated financial statements and MD&A which are available on SEDAR+ at www.sedarplus.ca.

NON‐IFRS FINANCIAL MEASURES

The Company uses measures (and ratios) that are not in accordance with IFRS to provide investors with supplemental metrics to assess and measure its operating performance and financial position from one period to the next. These metrics are presented as a complement to enhance the understanding of TerraVest’s operating results but not in substitution of IFRS results.

Adjusted EBITDA, Cash Available for Distribution, Dividend Payout Ratio, Maintenance Capital Expenditures and Working Capital are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS. TerraVest’s definitions may differ from those of other issuers and therefore may not be comparable to similarly titled measures used by other issuers.

Adjusted EBITDA: is defined as net income adjusted for income tax expense, financing costs, depreciation, amortization, change in fair value of derivative financial instruments, change in fair value of investment in equity instruments and investment in a limited partnership, change in fair value of contingent considerations, gains or losses on foreign exchange, gains or losses on disposal of other property, plant and equipment and property, plant and equipment for rental, gains or losses on disposal of intangible assets, gains or losses on lease modification, gains or losses on derecognition of finance leases receivable, gains or losses on remeasurement of equity interest, gain on bargain purchase, gains or losses on sale of business, non‑recurring acquisition‑related costs, impairment charges and other non‑recurring and/or non‑operations related items that do not reflect the current ongoing operations of TerraVest. Management believes this is a useful metric in evaluating the ongoing operating performance of TerraVest. Readers are cautioned that Adjusted EBITDA should not be construed as an alternative to net income determined in accordance with IFRS as an indicator of TerraVest’s performance.

Cash Available for Distribution: is defined as cash flow from operating activities adjusted for changes in non-cash operating working capital, maintenance capital expenditures and repayment of lease liabilities. Management believes that cash available for distribution, as a liquidity measure, is a useful metric that provides an indication of the cash available from ongoing operations that can be distributed to shareholders as a dividend. Readers are cautioned that Cash Available for Distribution should not be construed as an alternative to cash flow from operating activities determined in accordance with IFRS as an indicator of TerraVest’s liquidity and cash flows.

Dividend Payout Ratio: is defined as dividends paid in cash during the period divided by Cash Available for Distribution for the period. Management believes that Dividend Payout Ratio is a useful metric as it provides an indication of TerraVest’s ability to sustain its current dividend policy. There is no directly comparable IFRS measure for Dividend Payout Ratio.

Maintenance Capital Expenditures: is defined as capital expenditures made to sustain the operations of TerraVest’s operating businesses and to maintain the productive capacity of the businesses over an economic cycle, whether or not they yield significant cost or production efficiencies. Management believes that Maintenance Capital Expenditures should be funded by cash flow from existing operating activities and, therefore, deducted in determining Cash Available for Distribution. There is no directly comparable IFRS measure for Maintenance Capital Expenditures.

Working Capital: is calculated by subtracting current liabilities from current assets. Management uses Working Capital as a measure for assessing overall liquidity. There is no directly comparable IFRS measure for Working Capital.

Caution Regarding Forward-Looking Statements

This news release contains forward-looking statements. All statements other than statements of historical fact contained in this news release are forward-looking statements, including, without limitation, statements regarding our strategic direction and evaluation of the business segments and TerraVest as a whole, and other plans and objectives of or involving TerraVest. Readers can identify many of these statements by looking for words such as “expects” and “will” or similar terms or variations of these words. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.

By their nature, forward-looking statements require us to make assumptions and, accordingly, forward looking statements are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate. We caution readers of this news release not to place undue reliance on our forward-looking statements because a number of factors may cause actual future circumstances, results, conditions, actions or events to differ materially from the plans, expectations, estimates or intentions expressed in the forward-looking statements and the assumptions underlying the forward-looking statements.

Assumptions and analysis about the performance of TerraVest as a whole and its business segments, the markets in which the business segments compete and the prospects and values of the business segments are considered in setting the business plan for TerraVest, plans and/or ability to pay dividends, outlook for operations, financial position, results and cash flows, other plans and objectives and in making related forward-looking statements. Such assumptions include, without limitation, demand for products and services of the business segments in respect of the Canadian and other markets in which the businesses are active will be stable, and that input costs to business segments do not vary significantly from levels experienced historically. Should any of these factors or assumptions vary, actual results may differ materially from the forward-looking statements.

SOURCE TerraVest Industries Inc.

Featured Image: Depositphotos @ Cta88

Disclaimer

SAN FRANCISCO, Aug. 13, 2026 (GLOBE NEWSWIRE) — Opendoor Technologies Inc. (Nasdaq: OPEN) (the "Company"), a leading e-commerce platform for residential real estate transactions, today announced a series of transactions whose proceeds will add $440 million of growth capital to the balance sheet at a 0% coupon while reducing shares outstanding by 5%. The combined structure is designed so the Company expects no net share issuance until our stock exceeds $10.38 per share. Taken together, the Company believes the combined transactions enhance its capital structure, increase its capacity to fund profitable growth, and are structured to meaningfully limit dilution to existing shareholders.

The transactions consist of a $650 million offering of 0% Convertible Senior Notes due 2030 (the "Notes"), a $158 million repurchase of approximately 45.3 million shares of Opendoor common stock, and capped call transactions designed to reduce any potential dilution. The offering is expected to settle on August 19, 2026, subject to customary closing conditions.

Highlights:

• 5% reduction in shares outstanding – the first share repurchase in Company history
• $440 million growth capital at a 0% coupon through 2030
• No expected net share issuance until $10.38 per share (and <5% even at $20 per share)
• Structured to support disciplined expansion of inventory and growth beyond ANI profitability

"Capital should create value for existing shareholders – not come at their expense. This transaction gives us more than $400 million of growth capital at a 0% coupon, reduces our shares outstanding by 5%, and is structured so we expect no net share issuance until our stock is above $10 per share," said Kaz Nejatian, Chief Executive Officer of Opendoor. "How we finance growth matters as much as the growth itself."

"Quarter after quarter, we are executing against the promises we made. This capital gives us additional capacity to accelerate acquisitions and footprint while maintaining the capital discipline that got us here," Nejatian added.

Growth Capital

After using approximately $158 million of the offering proceeds for the share repurchase and approximately $52.5 million to fund the cost of entering into the capped call transactions, the Company expects to add approximately $440 million of net proceeds (before transaction expenses) to its balance sheet. The Company intends to use these proceeds to support disciplined expansion of home inventory and its market footprint, deploying additional capital into an operating model that the Company believes is on a clear path to sustained Adjusted Net Income profitability at current acquisition volumes.

The combined transactions are also structured to substantially limit potential dilution to existing shareholders. Assuming the Company elects to settle the principal amount of the Notes in cash, the capped call transactions are expected to offset potential share dilution from conversion through $6.98 per share. Above $6.98, the 45.3 million shares repurchased as part of the transaction are expected to offset net share issuance until the stock price exceeds $10.38 per share.

As a result, the combined transaction is expected to result in no net share issuance below approximately $10.38 per share and less than 5% net dilution at a share price of $20.00.

Share Repurchase

The Company intends to repurchase approximately 45.3 million shares of common stock for $158 million, or $3.49 per share, concurrently with the offering. This is the first share repurchase in the Company's history as a public company. The repurchase represents approximately 5% of the Company's shares outstanding as of July 28, 2026. The repurchase will be funded with proceeds from the offering and was authorized by the Company's Board of Directors on August 12, 2026.

In addition, J. Wood Capital Advisor LLC ("JWCA"), the placement agent for the offering, will purchase approximately $25 million of shares of the Company's common stock, at a discount to the last reported sale price per share of the Company's common stock on August 12, 2026, concurrently with the offering. Such repurchases by the Company and purchases by JWCA of shares of the Company’s common stock could increase (or reduce the size of any decrease in) the market price of the Company's common stock or the Notes.

Terms of the Notes

The Notes will be senior, unsecured obligations of the Company and will not bear regular interest, and the principal amount of the Notes will not accrete. The Notes will mature on August 15, 2030, unless earlier converted, redeemed or repurchased.

The Notes will have an initial conversion rate of 212.2466 shares of common stock per $1,000 principal amount of Notes, subject to adjustment in certain circumstances. This is equivalent to an initial conversion price of approximately $4.71 per share and represents a premium of approximately 35% over the last reported sale price of $3.49 per share of the Company's common stock on August 12, 2026.

Because the Company expects to settle the principal amount of converted Notes in cash and has entered into the concurrent share repurchase and capped call transactions, the initial conversion price of approximately $4.71 should not be viewed as the price at which the combined transaction begins to increase the Company's net share count.

Before February 15, 2030, the Notes will be convertible at the option of holders only upon satisfaction of certain conditions and during certain periods, and thereafter at any time until the close of business on the second scheduled trading day immediately before the maturity date. The Company will settle conversions by paying or delivering, as applicable, cash, shares of its common stock, or a combination of cash and shares, at the Company's election.

The Company may redeem the Notes, in whole or in part, on or after February 22, 2029 if the last reported sale price of the common stock exceeds 130% of the conversion price for a specified period, at a redemption price equal to 100% of principal plus accrued and unpaid interest, if any. The Company may also redeem the Notes in whole if less than $75 million aggregate principal amount remains outstanding.

Upon the occurrence of a fundamental change (as defined in the indenture governing the Notes), holders may require the Company to repurchase their Notes for cash at 100% of the principal amount, plus accrued and unpaid interest, if any. The Company will also be required to increase the conversion rate for holders who convert their Notes in connection with certain fundamental changes or a notice of redemption.

Capped Call Transactions

In connection with the pricing of the Notes, the Company entered into privately negotiated capped call transactions with certain financial institutions (the "option counterparties"). The capped call transactions are generally expected to reduce potential dilution to the common stock upon conversion of the Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of converted Notes, with such reduction and/or offset subject to a cap. The cap price of the capped call transactions is initially $6.98 per share, which represents a premium of 100% over the last reported sale price of $3.49 per share on August 12, 2026, and is subject to certain adjustments.

In connection with establishing their initial hedge positions with respect to the capped call transactions, the option counterparties and/or their respective affiliates expect to enter into various derivative transactions with respect to the Company's common stock and/or purchase shares of its common stock concurrently with or shortly after the Company's entry into the capped call transactions. This activity could increase (or reduce the size of any decrease in) the market price of the Company's common stock or the Notes at that time.

The Company used approximately $52.5 million of the net proceeds from the offering to fund the cost of the capped call transactions.

Advisors

JWCA served as placement agent to the Company in connection with the transactions.

Net Share & Dilution Assumptions

The net share and dilution figures in this press release are illustrative estimates, not projections of the Company's future share price or share count. They assume 971.1 million shares of common stock outstanding as of July 28, 2026 with no other change in outstanding shares, that the Company elects to settle the principal amount of converted Notes in cash, that the capped call transactions cover all shares initially underlying the Notes and remain in effect through conversion or maturity, and that neither the conversion rate nor the cap price is adjusted. These figures are not a measure of dilution under GAAP.

Other

The Notes and any shares of common stock issuable upon conversion of the Notes have not been registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.

For additional information regarding the terms of the transactions, please see the Company's Current Report on Form 8-K to be filed with the Securities and Exchange Commission.

About Opendoor

Opendoor is a leading e-commerce platform for residential real estate transactions whose mission is to power life's progress, one move at a time. Since 2014, Opendoor has provided people across the U.S. with a simple and certain way to sell and buy a home. Opendoor is a team of problem solvers, innovators, and operators who are leading the future of real estate. Opendoor currently operates in markets nationwide.

For more information, please visit www.opendoor.com

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including statements regarding the anticipated issuance of the Notes, capped call transactions and share repurchase, the Company’s expectations regarding the transactions; the anticipated and expected use of proceeds from any proceeds received from the issuance of the Notes; the effect of the transactions on the Company's capitalization or dilution; and the Company’s potential growth. These forward-looking statements generally are identified by the words “anticipate”, “believe”, “contemplate”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “guidance”, “intend”, “may”, “might”, “opportunity”, “outlook”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “strategy”, “strive”, “target”, “vision”, “will”, or “would”, any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. These risks include, but are not limited to market risks, trends and conditions. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption “Risk Factors” in the Company’s most recent Annual Report on Form 10-K filed with the SEC on February 19, 2026, as updated by the Company’s Quarterly Reports on Form 10-Q and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The Company does not give any assurance that it will achieve its expectations.

Contact Information

Investors:
investors@opendoor.com

Media:
Contact Kaz on X @Nejatian

Featured Image: Megapixl @ Okskazykin

Disclaimer

SHANGHAI, China, Aug. 13, 2026 (GLOBE NEWSWIRE) — Qfin Holdings, Inc. (NASDAQ: QFIN; HKEx: 3660) (“Qfin Holdings” or the “Company”), a leading AI-empowered Credit-Tech platform in China, today announced that it will report its unaudited financial results for the second quarter ended June 30, 2026, after U.S. markets close on Tuesday, August 25, 2026.

Qfin Holdings’ management team will host an earnings conference call at 8:30 PM U.S. Eastern Time on Tuesday, August 25, 2026 (8:30 AM Beijing Time on Wednesday, August 26, 2026).

Conference Call Preregistration

All participants wishing to join the conference call must pre-register online using the link provided below.

Registration Link: https://s1.c-conf.com/diamondpass/10056626-hxqxg1.html

Upon registration, each participant will receive details for the conference call, including dial-in numbers, conference call passcode and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin.

Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of the Company's website at https://ir.qfin.com.

About Qfin Holdings

Qfin Holdings is a leading AI-empowered Credit-Tech platform in China. By leveraging its sophisticated machine learning models and data analytics capabilities, the Company provides a comprehensive suite of technology services to assist financial institutions and consumers and SMEs in the loan lifecycle, ranging from borrower acquisition, preliminary credit assessment, fund matching and post-facilitation services. The Company is dedicated to making credit services more accessible and personalized to consumers and SMEs through Credit-Tech services to financial institutions.

For more information, please visit: https://ir.qfin.com.

Safe Harbor Statement

Any forward-looking statements contained in this announcement are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. Qfin Holdings may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in announcements made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including the Company’s business outlook, beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, which factors include but not limited to the following: the Company’s growth strategies, changes in laws, rules and regulatory environments, the recognition of the Company’s brand, market acceptance of the Company’s products and services, trends and developments in the credit-tech industry, governmental policies relating to the credit-tech industry, general economic conditions in China and around the globe, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks and uncertainties is included in Qfin Holding’s filings with the SEC and announcements on the website of the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and Qfin Holdings does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For more information, please contact:

Qfin Holdings
E-mail: ir@qfin.com

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Disclaimer

SHENZHEN, China, Aug. 13, 2026 (GLOBE NEWSWIRE) — Xunlei Limited ("Xunlei" or the "Company") (Nasdaq: XNET), a leading technology company providing distributed cloud services in China, today announced its unaudited financial results for the second quarter ended June 30, 2026.

Second Quarter 2026 Financial Highlights (results presented herein exclude Shenzhen Onething, discontinued operations, unless specified otherwise¹)

• Total revenues were US$102.7 million, representing an increase of 38.9% year-over-year.

• Subscription revenues were US$44.5 million, representing an increase of 22.6% year-over-year.

• Live-streaming and other services revenues were US$58.2 million, representing an increase of 54.8% year-over-year.

• Gross profit was US$57.3 million, representing an increase of 23.1% year-over-year, and gross profit margin was 55.8% in the second quarter, compared with 63.0% in the same period of 2025.

• Net loss from continuing operations was US$218.5 million in the second quarter, compared with net income of US$726.4 million in the same period of 2025.

• Non-GAAP net loss² from continuing operations was US$2.1 million in the second quarter, compared with non-GAAP net income of US$7.2 million in the same period of 2025.

• Diluted loss per ADS from continuing operations was US$3.43 in the second quarter, compared with diluted earnings per ADS of US$11.47 in the same period of 2025.

• Non-GAAP diluted loss per ADS³ from continuing operations was US$0.03 in the second quarter, compared with non-GAAP diluted earnings per ADS of US$0.12 in the same period of 2025.

“We are pleased to report continued top-line growth in the second quarter of 2026, building on the robust momentum established in Q1. This performance fully validates our strategic pivot to be more focused on a consumer-only (To-C) business model. In Q2, we recorded total revenue of US$102.7 million, reflecting a substantial year-over-year increase of 38.9%, while gross profit rose 23.1% compared with the prior-year period. This notable growth underscores our effective business structure optimization and the continuous enhancement of operational efficiency," said Mr. Jinbo Li, Chairman and CEO of Xunlei Limited.

"To further reinforce market confidence and deliver sustainable long-term value for our shareholders, we recently announced a new share repurchase program. We believe that this initiative demonstrates our unwavering confidence in the company’s strong fundamentals and potential for long-term growth, positioning us well for the future."

"Looking ahead, we remain committed to our user-centric development strategy. We will continue to innovate and enhance our product and service offerings, deepen our penetration into international markets, and drive sustainable growth in our core businesses. Through disciplined capital management, we are well-positioned to pursue balanced and sustainable corporate growth. We believe these strategic initiatives will help us deliver lasting value to our users and shareholders amid evolving market dynamics," Mr. Li concluded.

Second Quarter 2026 Financial Results (results presented herein exclude Shenzhen Onething, discontinued operations, unless specified otherwise)

Total Revenues

Total revenues were US$102.7 million, representing an increase of 38.9% year-over-year. The increase in total revenues was mainly attributable to the increased revenues generated from our subscription business and overseas audio live-streaming business.

Revenues from subscription were US$44.5 million, representing an increase of 22.6% year-over-year. The increase in subscription revenues was mainly driven by the increase in demand for our subscription services.

Revenues from live-streaming and other services were US$58.2 million, representing an increase of 54.8% year-over-year. The increase in live-streaming and other services revenues was mainly due to the increase in revenues from our overseas audio live-streaming business and advertising business of Hupu.

Cost of Revenues

Cost of revenues was US$44.8 million, representing 43.6% of our total revenues, compared with US$27.0 million, or 36.6% of the total revenues, in the same period of 2025. The increase in cost of revenues was mainly attributable to the increase in revenue-sharing expenses in our overseas audio live-streaming operations, generally in line with the growth in live-streaming and other service revenues.

Gross Profit and Gross Profit Margin

Gross profit for the second quarter of 2026 was US$57.3 million, representing an increase of 23.1% year-over-year. Gross profit margin was 55.8% in the second quarter of 2026, compared with 63.0% in the same period of 2025. The increase in gross profit was mainly driven by the increase in gross profit generated from our advertising business of Hupu and subscription business. The decrease in gross profit margin was mainly attributable to the increased proportion of live-streaming revenues to total revenues, which has a lower gross profit margin.

Research and Development Expenses

Research and development expenses for the second quarter of 2026 were US$21.4 million, representing 20.8% of our total revenues, compared with US$16.6 million, or 22.4% of our total revenues, in the same period of 2025. The increase was primarily due to more labor costs incurred during the quarter.

Sales and Marketing Expenses

Sales and marketing expenses for the second quarter of 2026 were US$27.9 million, representing 27.2% of our total revenues, compared with US$20.7 million, or 28.0% of our total revenues, in the same period of 2025. The increase was primarily due to more marketing expenses incurred during the quarter for our subscription and overseas audio live-streaming businesses as part of our ongoing efforts to acquire users.

General and Administrative Expenses

General and administrative expenses for the second quarter of 2026 were US$12.7 million, representing 12.4% of our total revenues, compared with US$8.5 million, or 11.6% of our total revenues, in the same period of 2025. The increase in general and administrative expenses was primarily due to the provision for ongoing litigations and increased employee-related cost as compared with the same period of 2025.

Operating (Loss)/Income

Operating loss was US$4.8 million, compared with an operating income of US$0.3 million in the same period of 2025. The shift from operating income to operating loss was primarily attributable to the increase in operating expenses discussed above.

Other (Losses)/Income, Net

Other losses, net was US$213.8 million, compared with other income, net of US$721.5 million in the same period of 2025. The change from other income, net to other losses, net was primarily attributable to the fair value changes of our long-term investment in Arashi Vision Inc., which has been measured at fair value based on the quoted market price since its initial public offering in June 2025.

Net (Loss)/Income and (Loss)/Earnings Per ADS

Net loss from continuing operations was US$218.5 million compared with net income of US$726.4 million in the same period of 2025. The net loss was primarily due to the swing from other income, net to other losses, net and the shift from operating income to an operating loss, as discussed above. Non-GAAP net loss from continuing operations was US$2.1 million in the second quarter of 2026, compared with non-GAAP net income of US$7.2 million in the same period of 2025.

Diluted loss per ADS from continuing operations in the second quarter of 2026 was US$3.43, compared with diluted earnings per ADS from continuing operations of US$11.47 in the second quarter of 2025. Non-GAAP diluted loss per ADS from continuing operations was US$0.03 in the second quarter, compared with non-GAAP diluted earnings per ADS from continuing operations of US$0.12 in the same period of 2025.

Cash Balance

As of June 30, 2026, the Company had cash, cash equivalents and short-term investments of US$276.9 million, compared with US$303.6 million as of March 31, 2026. The decrease in cash, cash equivalents and short-term investments was mainly due to the net cash outflows from operating activities, repayment of bank loans, payments for share repurchase and deferred consideration for the acquisition of Hupu.

Conference Call Information

Xunlei's management will host a conference call at 8:00 a.m. U.S. Eastern Time on August 13, 2026 (8:00 p.m. Beijing/Hong Kong Time), to discuss the Company's quarterly results and recent business developments.

Participant Online Registration:
https://register-conf.media-server.com/register/BIa77b2d16be874a6eb0b92ce720fd7da8

Please register to join the conference using the link provided above and dial in 10 minutes before the call is scheduled to begin. Once registered, the participants will receive an email with personal PIN and dial-in information, and participants can choose to access either via Dial-In or Call Me. A kindly reminder that "Call Me" does not work for China number.

The Company will also broadcast a live audio webcast of the conference call. The webcast will be available at http://ir.xunlei.com. Following the earnings conference call, an archive of the call will be available at https://edge.media-server.com/mmc/p/qm7pbos8

About Xunlei

Founded in 2003, Xunlei Limited (Nasdaq: XNET) is a leading technology company providing distributed cloud services in China. Xunlei provides a wide range of products and services across cloud acceleration and digital entertainment to deliver an efficient, smart and safe internet experience.

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will," "expects," "believes," "anticipates," "future," "intends," "plans," "estimates" and similar statements. Among other things, the management's quotations in this press release, as well as the Company's strategic, operational and acquisition plans, contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Forward-looking statements involve inherent risks and uncertainties, including but not limited to: the Company's ability to continue to innovate and provide attractive products and services to retain and grow its user base and advertisers; the Company's ability to keep up with technological developments and users' changing demands in the internet industry; the Company's ability to convert its users into subscribers of its premium services; the Company’s ability to integrate and grow its acquired business; the Company's ability to deal with existing and potential copyright infringement claims and other related claims; the Company’s ability to react to the governmental actions for its scrutiny of internet content in China and the Company's ability to compete effectively. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by the Company is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.

About Non-GAAP Financial Measures

To supplement Xunlei's consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), Xunlei uses the following measures defined as non-GAAP financial measures by the United States Securities and Exchange Commission: (1) non-GAAP operating (loss)/income, (2) non-GAAP net (loss)/income from continuing operations, (3) non-GAAP basic and diluted (loss)/earnings per share for common shares from continuing operations, and (4) non-GAAP basic and diluted (loss)/earnings per ADS attributable to continuing operations. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP.

Xunlei believes that these non-GAAP financial measures provide meaningful supplemental information to investors regarding the Company's operating performance by excluding share-based compensation expenses, and fair value changes of long-term investments, which are not expected to result in future cash payments, may recur from period to period but are subject to significant market volatility, and which are not indicative of our core operating results and business outlook. These non-GAAP financial measures also facilitate management's internal comparisons to Xunlei's historical performance and assist the Company's financial and operational decision making. A limitation of using these non-GAAP financial measures is that these non-GAAP measures exclude certain items that have been and will continue to be for the foreseeable future a recurring expense in Xunlei's results of operations. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying reconciliation tables at the end of this release include details on the reconciliations between GAAP financial measures that are most directly comparable to the non-GAAP financial measures the Company has presented, excluding discontinued operations.