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VNET Announces Certain Updates Regarding the Refinancing of the Founder’s Personal Loan

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BEIJING, July 8, 2024 /PRNewswire/ — VNET Group, Inc. (Nasdaq: VNET) (“VNET” or the “Company”), a leading carrier- and cloud-neutral internet data center services provider in China, today announced the refinancing of the margin loan facility provided by Bold Ally (Cayman) Limited (the “Bold Ally Loan”) to Mr. Josh Sheng Chen (“Mr. Chen”), Founder, Co-Chairperson and interim Chief Executive Officer of VNET. The Bold Ally Loan was procured by Mr. Chen in or around August 2021 to finance his purchase of 17,140,898 Class A ordinary shares from another significant shareholder at the time, and was secured by the ordinary shares beneficially owned by Mr. Chen in the Company.

With reference to the Amendment No. 8 to the Schedule 13D filing dated July 8, 2024 filed by Mr. Chen (the “Schedule 13D Amendment”), Mr. Chen and various entities wholly owned by him (the “Corporate Obligors”) have settled all of their obligations under the Bold Ally Loan. The settlement was funded using proceeds generated from the issuance of a promissory note (the “Note”) to Shining Rich Holdings Limited and the existing cash reserves of Mr. Chen.  

As a result of the settlement of the Bold Ally Loan, the collateral for the Bold Ally Loan has been released in full pursuant to a deed of undertaking as disclosed in the Schedule 13D Amendment, and Mr. Chen has restored his beneficial ownership interest in 33,628,926 Class A ordinary shares of the Company, the ownership of which was previously transferred to Bold Ally (Cayman) Limited.

The Note is secured by 68,373,133 Class A ordinary shares and 27,757,992 Class B ordinary shares beneficially owned by Mr. Chen and the Corporate Obligors, representing in the aggregate approximately 6.00% of the issued and outstanding share capital and 18.41% of the total voting power in the Company as of the date of the Schedule 13D Amendment.

Mr. Chen and the Corporate Obligors have also made various undertakings with respect to the shares of the Company. These undertakings include procuring the Company not to issue or grant, in any financial year, equity securities (including rights to acquire shares) representing 5% or more of the total issued and outstanding capital of the Company (on a fully-diluted basis) to any person, including Mr. Chen and the Corporate Obligors themselves, subject to exceptions. Details of such undertakings are set forth in the Schedule 13D Amendment.

Considering the voting power owned by Mr. Chen, his veto rights over certain corporate actions through his beneficial ownership of 60,000 class C ordinary shares and his executive powers as co-Chairperson and interim Chief Executive Officer of the Company, Mr. Chen holds significant power to direct or influence the management and policies of the Company as a controlling person.

About VNET

VNET Group, Inc. is a leading carrier- and cloud-neutral internet data center services provider in China. VNET provides hosting and related services, including IDC services, cloud services, and business VPN services to improve the reliability, security, and speed of its customers’ internet infrastructure. Customers may locate their servers and equipment in VNET’s data centers and connect to China’s internet backbone. VNET operates in more than 30 cities throughout China, servicing a diversified and loyal base of over 7,500 hosting and related enterprise customers that span numerous industries ranging from internet companies to government entities and blue-chip enterprises to small- to mid-sized enterprises.

Safe Harbor Statement 

This announcement contains forward-looking statements. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “target,” “believes,” “estimates” and similar statements. Among other things, quotations from management in this announcement as well as VNET’s strategic and operational plans contain forward-looking statements. VNET may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports 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 statements about beliefs and expectations on the future performance of VNET, 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 the following: VNET’s goals and strategies; VNET’s liquidity conditions; VNET’s expansion plans; the expected growth of the data center services market; expectations regarding demand for, and market acceptance of, VNET’s services; VNET’s expectations regarding keeping and strengthening its relationships with customers; VNET’s plans to invest in research and development to enhance its solution and service offerings; and general economic and business conditions in the regions where VNET provides solutions and services. Further information regarding these and other risks is included in VNET’s reports filed with, or furnished to, the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and VNET undertakes no duty to update such information, except as required under applicable law.

Investor Relations Contact:

Xinyuan Liu
Tel: +86 10 8456 2121
Email: ir@vnet.com 

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SOURCE VNET Group, Inc.

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SINBON Expands Focus at EuroBike 2025 with New E-bike Fleet Management and Cargo Mobility Solutions

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FRANKFURT, Germany and TAIPEI, May 15, 2025 /PRNewswire/ —  SINBON Electronics Co., Ltd. (TWSE#:3023), a leading electronics system integrator, is announcing its new fleet management platform and high-powered 750W fat tire e-bike system prototype ahead of EuroBike 2025. Under the theme “You ride it, we connect it”, SINBON will attend the global cycling and ecomobility trade show for the third consecutive year to showcase its cutting-edge innovations in smart mobility and connectivity.

Please join SINBON in Hall 8, Booth J32 at EuroBike 2025 (June 25–29, Frankfurt, Germany).

On display: You ride it, we connect it

At this year’s event, SINBON will focus on four key areas aimed at moving the industry forward:

Connect to Journeys – New Fleet Management SolutionThe solution is a seamless integration of modular software and e-bike hardware, empowering fleet operators with real-time tracking, diagnostics, rental management, and backend systems.Originally designed for a regional e-bike mobility service, this solution also supports traditional bikes and light EVs, and its scalability can match fleet sizes from compact local fleets to broader multi-region operations.The solution offers modular flexibility, with the platform and fleet also available separately based on needs. This allows SINBON to optimize system configuration, enhance data flow, and meet compliance needs while customizing solutions to each business’ specific requirements.Connect to Power – Fat Tire E-bike SystemSINBON is demoing a prototype of its powerful 750W fat tire e-bike system, delivering top performance for off-road adventures and cargo transport across terrains.With SINBON creating the high-powered drivetrain and handling the integration of the bike’s electronic systems, this model demonstrates how the company works closely with bike manufacturers to deliver maximum performance and connected rider experiences.Connect to Cloud – Full-Stack Software SolutionsSINBON offers full-stack software from the factory to the end user, including:User app for personalized settings and tracking ride dataProviding real-time, wireless maintenance, the maintenance app now can perform diagnostics fully wirelessly without a physical dongle bridge, reducing maintenance costs for dealers while improving efficiency and convenience of service.Platform for real-time component verification during bike assemblyInterconnect – Smart Manufacturing & ConnectivitySINBON embraces smart manufacturing by using advanced production models, such as automated production lines, autonomous warehouse robots, and real-time monitoring for streamlined productivity with consistent quality.The company’s system integration expertise interlinks hardware, software, mobile applications, and the cloud to enable advanced IoT features such as GPS tracking for anti-theft and ride history, real-time data transmission via cellular networks, and over-the-air (OTA) system updates.

A strong presence in Europe

As a leading provider of electronic system integration, SINBON supports its growing European customer base through its manufacturing facility and logistics hub in Tatabánya, Hungary (3,800 m²). The company also maintains a direct sales presence in the UK and Germany, with additional coverage provided by local representatives and distributors across Europe.

Visit SINBON at Hall 8, Booth J32 at EuroBike to see these breakthroughs in action!

About SINBON Electronics

Established in 1989 in Taiwan, SINBON Electronics is a leading provider of integrated design and production services for bespoke interconnect solutions. Driven by a commitment to customer centricity and the principles of ESG, the company offers a wide range of products and OEM/ODM services that ensure reliability and efficiency, combining extensive engineering expertise, industry knowledge, and leading innovations to customize solutions for long-term customer success. SINBON has a global footprint, with operations in Taiwan, China, Japan, the United Kingdom, Germany, Hungary, and the United States.

For more information: https://www.sinbon.com/e-bike

https://www.linkedin.com/company/sinbon-electronics/

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Mastercard Economics Institute on Travel in 2025: Asia-Pacific leads trending summer destinations for second year running

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Tokyo and Osaka top the list of summer hot spots while Nha Trang makes its debutCurrency fluctuations are a key consideration for travelers

SINGAPORE, May 15, 2025 /PRNewswire/ — Asia-Pacific is home to eight of the world’s top 15 trending summer travel destinations, according to Travel trends 2025, the annual Mastercard Economics Institute (MEI) report on consumer spending in the travel economy. While exchange rates and geopolitical dynamics can influence behavior, the report highlights that passions and purpose-driven motivations remain strong drivers shaping the travel industry. Drawing on a unique analysis of aggregated and anonymized transaction data and third-party data sources, the report uncovers what is shaping travel choices today. Highlights from the Asia-Pacific region include:  

Japan leads the pack—with Vietnam’s Nha Trang rising fast:

Tokyo and Osaka are the world’s #1 and #2 top trending destinations for summer travel (June-September 2025), with the two largest increases in tourism demand relative to previous levels[1].

In 2024, Japan’s capital city climbed from the number two spot that it held in 2023 to lead global travel demand heading into the peak summer season, reflecting its continued appeal. Meanwhile, Nha Trang in Vietnam made a surprise entry into the list, climbing in popularity thanks to its beautiful beaches, enviable coastline and vibrant nightlife.  

China and India—still Asia’s travel titans: The Chinese Mainland retained its position as the world’s largest outbound travel market in 2024. Chinese travelers are increasingly prioritizing value and visa-friendly destinations including Japan, Malaysia, and Singapore. Interest in Central Asian destinations such as Kazakhstan, Uzbekistan, and Kyrgyzstan is also increasing.

India again posted the country’s highest number of outbound travelers on record in 2024. Indian tourists are exploring a broad mix of destinations—the top three being Abu Dhabi, Hanoi, and Bali—with growth supported by expanded direct flight connections and a rapidly growing middle class that is eager to travel. Together, the two markets continue to play an outsized role in shaping global travel flows.

Experiences over itineraries: Across Asia-Pacific, travelers are prioritizing dining, nature, and wellness as key motivators for travel, seeking meaningful moments over traditional sightseeing. Destinations like Gianyar in Bali, Indonesia, known for its iconic Babi Guling spit-roasted pork, and Queenstown in New Zealand—where restaurants welcomed tourists from 44 countries in 2024—are standing out as globalized culinary hotspots. According to MEI’s Wellness Trend Index[2] (WTI), Thailand is among the destinations leading the way in relaxation experiences and self-care, where visitors can reconnect with nature in immersive eco lodges or find calm in meditation retreats. At the same time, the rising WTI score for New Zealand suggests a growing effort to be part of this popular movement. Overall, the trend toward purpose-driven travel reflects people’s broader desire for experiences that nourish both body and spirit.

Sports fandom fuels travel: The rise of sports tourism continues, with major events like the Australian Open tennis tournament and Baseball World Series in Los Angeles drawing significant international spend. Shohei Ohtani’s World Series debut saw spending by Japanese visitors surge by 91%, six times the broader cross-border boost, highlighting how sporting events are proving to be powerful travel catalysts for fans.

David Mann, chief economist, Asia Pacific, Mastercard, said: “The Asia-Pacific region continues to set the pace for global travel, with buzzing destinations like Tokyo, Shanghai, Seoul, and Singapore capturing the imagination of travelers around the world. Even as economic uncertainty persists, travel remains a bright spot—driven by people seeking meaningful, value-driven experiences. From exchange rates to regional accessibility, travelers are making smarter, more intentional choices about where they go and why, with a clear shift toward more personal, purposeful journeys.”

Travelers from Asia-Pacific tend to be more sensitive to exchange rate shifts. A weaker yen throughout much of 2024 played a significant role in boosting Japan’s inbound tourism, making the country a compelling destination for visitors in search of value. Notably, a 1% depreciation of the JPY against the RMB is associated with a 1.5% increase in tourists from the Chinese Mainland. However, visitors from New Zealand and the U.S. rose only around 0.2% in response to the same degree of depreciation relative to their currencies. In 2024, the number of Singaporean visitors to Japan hit record highs — thanks to a 40% rise in the Singapore Dollar (SGD) vs. Japanese Yen (JPY), even as airfare and hotels got pricier.

Turning to the U.S., MEI’s analysis shows that tourists from India, Singapore, South Korea, and Taiwan are particularly sensitive to exchange rate fluctuations, after accounting for other factors. Specifically, a 1% depreciation of the United States Dollar (USD) against their local currencies corresponds to an approximate 0.6–0.8% increase in the number of tourists traveling to the U.S. These findings, consistent with our earlier analysis of tourism to Japan, suggest that these travelers are more responsive to exchange rate movements when selecting outbound destinations.

The shifting sands of business travel: Corporates today are limiting global travel in favor of regional trips. And while people are taking fewer business trips overall, the average duration is longer, suggesting efforts to stretch travel budgets. For example, U.S.-based travelers’ trips to Asia-Pacific increased from 8.8 days[3] to 10.2 days[4]. 

Travel fraud demands a safer, smarter travel ecosystem. According to MEI, fraud in popular tourist destinations spikes up to 28% during peak seasons. Common scams include inflated charges in restaurants and taxis, fake tour companies, and fraudulent property listings. To combat these, Mastercard employs advanced fraud prevention technologies, including digital wallets and AI-driven systems, to protect travelers. This ensures that travelers can focus on their journeys without worrying about security threats.

“This report is designed to offer a clearer view of how consumer behaviors are evolving—and what that means for tourism growth,” added Mann. “By turning data into actionable insights, the Mastercard Economics Institute aims to support the travel ecosystem in making smarter decisions that drive stronger tourism strategies, better traveler experiences, and more resilient economic outcomes.”

View the “Travel Trends 2025: Purpose-driven journeys” report here and other insights from MEI, here.

About the Mastercard Economics Institute

The Mastercard Economics Institute provides insights into global and local economic trends using advanced analytics and Mastercard’s proprietary data assets. Established in 2020, MEI supports businesses, governments, and policymakers with economic monitoring services and timely analysis on economic themes including consumer spending, retail and travel trends, and other local and global barometers of economic performance. MEI offers valuable perspectives to inform decision-making and promote sustainable growth worldwide through our thought leadership series, and through Mastercard’s specialized product offerings

About Mastercard

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
www.mastercard.com 

[1] OAG flight booking data for travel bookings Jan-Mar 2025

[2] WTI is calculated using the share of cross-border accommodation spending at wellness-related merchants, multiplied by each country’s share of global wellness-related accommodation transaction

[3] Feb 2019-Feb 2020

[4] Mar 2024-Mar 2025

 

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SOURCE Mastercard

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Clarivate Report Reveals Top Trademark Portfolios

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Procter & Gamble, Nestlé, Apple, L’Oréal, Novartis, LG Electronics and Unilever among the largest portfolio owners in most registers

LONDON, May 15, 2025 /PRNewswire/ — Clarivate Plc (NYSE:CLVT), a leading global provider of transformative intelligence, today released the Trademark filing trends 2025 report, analyzing ten key trademark registers worldwide: the United States (U.S.), Canada, the United Kingdom (U.K.), the European Union (EU), France, Germany, India, Mainland China, Japan, and Australia. The report reveals the top 20 largest local and foreign-based trademark portfolios in each region and the law firms managing the largest trademark portfolios.

Based on data from SAEGIS, a CompuMark trademark database containing over 150 million records, the report shows Mainland China continues to lead in global trademark filings with 6.76 million applications in 2024, despite a steady three-year decline in activity. The U.S. claims second place with 566,938 applications. India is rapidly closing in on the U.S. with over 537,000 applications in 2024 and an average yearly growth of 10% over the last decade.

Gordon Samson, President, Intellectual Property, Clarivate, said: “In an increasingly volatile market for new and existing brands, trademark attorneys need to be acutely aware of macro-trends in local jurisdictions and the subtle economic interplay between states and major hubs of trademark activity. By integrating the insights outlined in the report into trademark and business strategies, brands and their representatives can develop a more informed approach to managing their IP. This not only helps in mitigating risks associated with trademark infringement but also enhances the ability to capitalize on emerging opportunities.”

Other key findings from the 2024 trademark filing data include:

Seven brands consistently ranked in the top 20 largest portfolio lists. Procter & Gamble, Nestlé, Apple, L’Oréal, Novartis, LG Electronics and Unilever were each among the largest portfolio owners in at least seven of the ten registers analyzed.Three jurisdictions face three years of consistent decline. France, Mainland China and Japan experienced a steady decrease in trademark filing activity in 2022, 2023 and 2024. All three jurisdictions ended 2024 with the lowest filing volume since 2017.Mainland China continues to dominate global trademark filings, underscoring its economic growth and expanding global brand presence.Australia recovers to 2021 trademark filing volume, primarily due to a 24% increase in trademark applications by foreign based brand owners in 2024.

To learn more, please visit our Trademark filing trends 2025 site.

About Clarivate
Clarivate is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com 

Media contact:
Sofia Nogués, Sr. External Communications Manager
newsroom@clarivate.com 

 

SOURCE Clarivate Plc

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