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HONG KONG: Chinese electric vehicle (EV) battery giant Contemporary Amperex Technology Co. Limited (CATL) is set to raise US$4 billion through its secondary listing on the Hong Kong Stock Exchange, slated for May 20, 2025. This marks the largest IPO to be held in Hong Kong this year. CATL, which produces over a third of all electric vehicle batteries worldwide, has cemented its position as a leader in the sector, partnering with automotive giants such as Tesla, Mercedes-Benz, BMW, and Volkswagen. The company, listed in Shenzhen, is pursuing a secondary listing in Hong Kong to further its international expansion and to tap into the growing demand for EV batteries, particularly in Europe. In a filing with the Hong Kong Exchange, CATL outlined plans to offer approximately 117.9 million shares, priced at up to HK$263 per share, with a total expected value of HK$31.01 billion (US$4 billion). The IPO is expected to generate significant interest, with cornerstone investors including Sinopec and the Kuwait Investment Authority already committing to buy HK$2.62 billion worth of shares. The funds raised from the IPO will be utilized to accelerate CATL’s international growth, particularly in Europe, where it is already constructing its second factory in Hungary. The company has been expanding rapidly on the continent, having launched its first factory in Germany in January 2023. In addition, CATL is working with automotive manufacturer Stellantis on a US$4.3 billion project to build an EV battery factory in Spain, with production slated to commence by 2026. Despite challenges in the domestic Chinese market, which has faced a slowdown in EV sales and a fierce price war, CATL has posted robust performance. In the first quarter of 2025, the company reported a 32.9% increase in net profit, highlighting its resilience amid market pressure. The IPO marks a significant moment for the Hong Kong Stock Exchange, which is eager to attract more major Chinese listings. The city has seen a steady decline in new offerings since China’s regulatory crackdown in 2020, which led some large companies to delay their IPO plans. However, CATL’s IPO is not without controversy. The company was recently included on a US Department of Defense list as a “Chinese military company,” drawing attention from US lawmakers. In response, CATL has denied any involvement in military-related activities, and Beijing has decried the listing as a form of “suppression.” Despite this, major American investment banks, including JPMorgan and Bank of America, are still involved in the deal. CATL plans to structure the IPO as a “Reg S” offering, meaning that it will not allow sales to US onshore investors, reducing the company’s exposure to legal risks in the United States. As CATL looks to solidify its position in the global EV battery market, the Hong Kong IPO is seen as a critical step in its continued expansion and innovation in the rapidly growing electric vehicle sector. (AFP)

SHENZHEN: China’s passenger car sales rose for the third consecutive month in April, surging 14.8% year-on-year to 1.78 million units, buoyed by government-backed auto trade-in incentives that softened the blow of rising US tariffs. According to the China Passenger Car Association (CPCA), cumulative sales for the first four months of 2025 totalled 6.97 million units, up 8.2% compared to the same period last year. New energy vehicles (NEVs), which include electric and plug-in hybrid models, saw sales increase by 33.9% year-on-year, accounting for 50.8% of total passenger vehicle sales in April. The uptick was supported by a government programme offering higher subsidies for replacing old vehicles with NEVs rather than petrol cars. As of 24 April, the scheme had subsidised 2.71 million vehicle trade-ins, reinforcing consumer sentiment amid geopolitical trade friction with the US. Despite robust domestic demand, China’s car exports fell 2.2% in April, following an 8% decline in March, reflecting the broader impact of global trade tensions. Meanwhile, interest in automated-driving systems appears to be waning. The market had recently seen a surge in promotions for driver-assistance technologies, particularly after BYD announced its “God’s Eye” system as standard across its range. However, a fatal crash involving a Xiaomi SU7 sedan has prompted regulators to tighten restrictions on the marketing of so-called “smart” or “autonomous” features.–REUTERS

TOKYO: Nissan Motor Co is preparing to cut over 10,000 additional jobs worldwide, pushing its total layoffs to approximately 20,000—equivalent to 15% of its global workforce, according to Japanese public broadcaster NHK. The move comes as the automaker braces for a record net loss of between ¥700 billion and ¥750 billion (US$4.74 billion–US$5.08 billion) for the financial year ending March 2025, largely due to impairment charges. The cuts build on previously announced downsizing measures as Nissan continues to grapple with weak profitability and restructuring efforts. The company is expected to officially release its full-year results later today. Nissan declined to comment on the job cuts report.–REUTERS

KUALA LUMPUR, MALAYSIA: Tenchijin Inc., a leading space technology company, today announced a partnership agreement with PWS, Malaysia’s prominent water solutions provider, for the distribution of KnoWaterleak in key Malaysian territories as of May 1. This strategic partnership combines Tenchijin’s innovative satellite-based water leak detection technology with PWS’s extensive network and expertise in the Malaysian water sector. PWS, which currently serves as the exclusive distributor for global industry leaders such as Diehl, Nivus, and Aichi Tokei, will leverage its established relationships with major water utilities to accelerate the adoption of KnoWaterleak throughout Malaysia. Strategic Partnership Benefits The collaboration aims to address critical water infrastructure challenges in Malaysia through: – Integration of KnoWaterleak’s satellite-based monitoring system with existing water management infrastructure – Enhanced leak detection capabilities for water utilities across the three regions – Improved water conservation and infrastructure maintenance efficiency Executive Comments Yohei Nishiyama – VP of Business Development, Tenchijin Inc | Japan “Our partnership with PWS represents a significant milestone in our expansion into Southeast Asia. Malaysia’s commitment to water infrastructure modernization perfectly aligns with our mission to revolutionize water management through space technology. Through this collaboration, we aim to demonstrate how satellite technology can transform the way we manage and conserve water resources. This partnership will not only benefit the Malaysian water sector but also serve as a model for sustainable water management across Southeast Asia.” Mr. Desmond Lim, Managing Director, Premier Water Services “PWS recognizes the transformative potential of KnoWaterleak’s technology for Malaysia’s water utilities. This partnership strengthens our portfolio of innovative solutions and reinforces our commitment to advancing water infrastructure management. By combining our extensive network and expertise with Tenchijin’s cutting-edge satellite technology, we are confident in our ability to deliver unprecedented value to water operators across Johor, Selangor, and Penang. This collaboration marks a new chapter in Malaysia’s journey towards smarter, more efficient water management systems.” Market Implementation The initial rollout will focus on: – Comprehensive coverage of water networks in Johor, Selangor, and Penang – Integration with existing water management systems – Technical support and training programs for local utilities Hashtag: #Tenchijin #KnoWaterleak #SatelliteTechnology #WaterLeakage #Sustainability #LeakageDetection https://tenchijin.co.jp/?hl=en https://www.linkedin.com/company/tenchijin/ https://x.com/Tenchijin_en The issuer is solely responsible for the content of this announcement. About PWS PWS is Malaysia’s leading water solutions provider, with extensive experience in water utility management and strong relationships with major water operators across the country. As the exclusive distributor for several global water technology leaders, including Diehl, Nivus, Aichi Tokei, and TECHNOLOG UK, PWS has established itself as a trusted partner in Malaysia’s water infrastructure sector. About Tenchijin Tenchijin Inc. is a pioneering space technology company that develops innovative solutions for infrastructure management. Its flagship product, KnoWaterleak, utilizes satellite technology and advanced algorithms to detect and prevent water leaks, contributing to sustainable water resource management globally. Company Overview Company name: Tenchijin, Inc. Address: Room 3, Ground Floor, Block 2330, Century Square, Jalan Usahawan, Off, Persiaran Multimedia, 63000, Cyberjaya, Selangor, Malaysia Representative: Yasuhito Sakuraba, CEO Business content: land evaluation consulting using satellite data About Tenchijin COMPASS KnoWaterleak Tenchijin COMPASS KnoWaterleak is an advanced cloud-based mapping service that leverages satellite data and AI technology to support efficient leak inspections for water utilities and contractors. Using data from multiple satellites and open data sources, it identifies high-risk areas for leaks within 100m square zones. A key feature of the system is its integration with digital water supply registers and distribution pipe maps, enabling centralized management of leak risk through a 5-level evaluation system. The intuitive interface enables real-time data monitoring, facilitating rapid leak detection and repair planning. Through regular registration and management of leak locations, the AI continuously reassesses risk levels based on accumulated data, improving accuracy over time. Field demonstrations conducted with the Cabinet Office and various municipalities in 2022 have shown potential cost reductions of up to 65% in inspections and time savings of up to 85% in investigations. The system has received high recognition for its technical excellence and ease of implementation, earning the Minister of Health, Labour and Welfare Prize at the 7th Infrastructure Maintenance Grand Prize. Special site for Tenchijin COMPASS KnoWaterleak https://knowaterleak.space/ For inquiries regarding the expansion of Tenchijin COMPASS KnoWaterleak in Asia, please contact the following: Asia Business Development Div. Contact: [email protected]

RIYADH, SAUDI ARABIA: Sahm App, the premier all-in-one trading platform trusted by over one million users, has launched Version 2.0, marking its most significant upgrade to date. The release introduces an array of powerful features, led by the highly requested Dark Mode. Designed in response to community feedback, Dark Mode offers improved visibility in low-light settings while reducing eye strain—delivering a smoother, more comfortable trading experience. With vibrant, high-contrast interactive elements, users can now enjoy a bold new interface. The feature can be enabled in Sahm App Version 2.0 via Settings > General, where users can choose Light, Dark, or follow their device’s system settings. But Version 2.0 goes far beyond aesthetics. With over 250 upgrades, the update transforms Sahm App into a smarter, faster, and more connected trading platform. Key enhancements include: Concept Stocks: Themed investment ideas to help users track trends and sector movements in U.S. markets at a glance. Smart Search: A redesigned search experience offering faster, more accurate results based on trading behavior. Real-Time Stock Comments: Live discussion threads where over a million investors exchange ideas, market insights, and strategies. Refreshed News Layout: An improved interface for browsing financial news—clearer, more structured, and easier to navigate. Hadeel Bedeeri, General Manager of Sahm Capital, shared: “At Sahm, we put our users at the center of everything we do. Version 2.0 is not just an update—it’s our statement of intent. We’re giving every investor smarter tools, faster access, and a better way to trade with confidence.” With a refined design and community-driven features, Sahm App 2.0 reinforces its mission to be the most intuitive and trusted trading platform in the region. The app is now available on the iOS App Store, Google Play Store, and Huawei AppGallery. New users can also enjoy a lifetime 70% discount on Saudi market commissions, capped at a maximum of SAR 3 per trade. For more information, visit: https://www.sahmcapital.com