Month: May 2026

Led by China Telecom and jointly developed by 13 leading operators across the Asia-Pacific region, the ALC system spans approximately 6,200 kilometers, connecting China (Hong Kong and Hainan), Singapore, the Philippines, Vietnam, Brunei and Malaysia, with a total designed capacity exceeding 325 Tb/s. Once completed, ALC will become the highest-capacity international submarine cable for the Hong Kong-to-Singapore route, and marks another new submarine cable landing in Hong Kong by China Telecom following the full commissioning of the ADC submarine cable in 2025. The ALC system will efficiently support the growing transmission demands for high-bandwidth and low-latency transmission driven by cloud computing, AI large models and other emerging digital applications, while providing strong communications infrastructure support for the development of Hong Kong’s international innovation and technology hub.

As the largest investor in the project, China Telecom has undertaken core management responsibilities and played a leading role in driving the project throughout the entire process, from preparation, planning and design to construction. The ALC system represents an important strategic initiative in strengthening China Telecom’s international communications backbone network across the Asia-Pacific region. After it goes into service, it will add more than 100 Tb/s of bandwidth capacity for China Telecom, significantly enhancing its network capacity, connectivity and traffic scheduling capabilities across the region.

In addition, ALC is China Telecom’s first international submarine cable landing in Hainan. It will effectively fill gaps in Hainan’s international communications capacity toward Hong Kong, Macao and Southeast Asia – serving as a key initiative for China Telecom to implement the strategy for building the Guangdong-Hong Kong-Macao Greater Bay Area and to support the Belt and Road Initiative.

The Chung Hom Kok Cable Landing Station in Hong Kong, where the ALC submarine cable landed this time, is China Telecom’s first self-built submarine cable landing station outside mainland China. Going forward, the station will continue to handle landing tasks for international submarine cables heading to multiple regions and directions, including the Asia-Pacific, Asia-Europe and other regions- further strengthening Hong Kong’s position as a key communications hub in the Asia-Pacific region and supporting China Telecom build a more comprehensive global communications network.Hashtag: #ChinaTelecom

The issuer is solely responsible for the content of this announcement.

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 14 May 2026 – The ACES Institute today conferred its Distinguished Fellow recognition upon Letright Founder and Chief Executive Ren Li during a leadership dialogue hosted in collaboration with Monash University Malaysia and the UN-supported Principles for Responsible Management Education (PRME).

Held at the Plenary Theatre at Monash University Malaysia, the forum, titled Responsible Leadership in Asia: A Case Dialogue on Practice and Impact, brought together business leaders, academics, and sustainability advocates to examine how companies can scale globally while maintaining responsible governance.

The recognition marks the latest milestone for Li, a previous recipient of the Responsible Business Leader accolade (ACES Awards 2024) and Entrepreneur of the Year (ACES Awards 2025). Under his leadership, Letright has emerged as one of China’s premier outdoor furniture exporters, operating in over 70 countries.

Speaking at the dialogue, Li emphasized that responsible leadership should be an industry-wide standard rather than a niche competitive advantage. “I welcome competition because responsible business leadership should continue expanding across the industry,” said Ren Li. “The market is large enough for everyone. What matters more is building businesses that grow sustainably and responsibly over the long term.”

Moderated by Associate Professor Dr. Esther Chong of Monash University Malaysia’s School of Business, the discussion explored ethical decision-making across global supply chains. “Ren Li’s journey demonstrates that profitability and principled leadership can reinforce one another,” noted Dr. Chong.

Dr. Shanggari Balakrishnan, President of the ACES Institute and CEO of MORS Group, stated that the fellowship reflects the organization’s mission to champion ethical leadership. “Ren Li represents a new generation of leaders who understand that accountability, resilience, and purpose are central to long-term success,” she said.

The dialogue successfully bridged academic insight with real-world executive experience, offering a closer look at applying responsible principles amid growing global scrutiny. The event concluded with a networking luncheon for representatives from academia and the international business community.

Hashtag: #ACESInstitute

The issuer is solely responsible for the content of this announcement.

ACES Institute

The ACES Institute, MORS Group’s research arm, promotes Asian leadership and sustainability. It bridges academic insight and corporate practice through fellowships and partnerships to champion ethical excellence and responsible entrepreneurship.

Where much of the crypto industry has pursued visibility through disconnected tools running on competing chains, Fuutura has worked outside the spotlight for years. The team has been engineering the foundational infrastructure required to deliver financial access to the billions whose participation has been blocked by the legacy system.

The launch brings three products to market under the Fuutura name. Fuutura Identity, Fuutura Wallet, and Fuutura Trade have each been designed to stand alone while reinforcing the capabilities of the others.

Fuutura Trade has been described by the team as the trading layer crypto has spent fifteen years trying to build. The protocol is non-custodial and multi-chain, engineered for traders unwilling to compromise on architecture. On-chain execution. Cross-chain liquidity. A revolutionary single environment for the full range of on-chain digital assets: cryptocurrencies, stablecoins, governance and utility tokens, liquid staking tokens, wrapped assets, LP tokens, and other digital and tokenised assets. The protocol already knows the trader is verified, recognises the keys they hold, and trusts them to act on their own behalf.

No platform-managed orderbook. No off-chain matching. No third party with the keys.

The protocol works for the trader. Not the venue. Not the custodian. Not the intermediary.

That’s the difference.

“We didn’t set out to build another exchange. We set out to build the trading layer that’s missing from crypto. Non-custodial, on-chain, multi-chain, with identity attestation handled at the protocol layer rather than at every product. Once you build that architecture, the rest of the ecosystem becomes possible. Wallet, Identity, Trade. They all run on the same foundation, and that’s why the protocol can recognise the user and trust them to act on their own behalf without intermediaries getting in the way,” said Ellis McGrath, Co-founder and Chief Technology Officer of Fuutura.

The Fuutura Identity product sits beneath the wider ecosystem as its trust layer. Verification runs through biometric authentication and liveness detection, paired with document recognition and AML screening, before producing an on-chain attestation linked directly to the user’s wallet. That attestation is then recognised across every product Fuutura operates. A single verification covers all subsequent interactions, with compliance happening within the protocol rather than at the entry to each individual product.

This is what gives Trade the ability to identify its user without running KYC a second time. It is also what allows Wallet to function with no intermediary involvement. Identity becomes the architecture itself.

Fuutura Wallet sits at the centre of the ecosystem as its custody and control layer. The wallet is non-custodial and multi-chain. Users retain their keys, direct the movement of their assets, and authorise their own transactions. It operates across blockchains and serves as the entry point to every Fuutura product, without surrendering custody to a third party at any stage.

The principle is simple: ownership is not delegated.

“The promise of crypto has always been that users could participate in finance without giving up custody, identity, or access. The reason that promise hasn’t delivered is that the architecture wasn’t there. Identity, custody, and execution have lived in separate places, and the user has paid the cost. Fuutura is being built so they live in one place, at the protocol layer, where they belong,” said Oliver Cook, Co-founder of Fuutura.

Three products are ready for launch. Additional products are under active development, each engineered to broaden identity usage, deepen wallet integration, and expand the reach of the ecosystem as Fuutura scales.

This is the broader vision Fuutura is working toward: a compliance-first financial ecosystem designed to deliver inclusion at a global scale, with the user positioned at its centre.

Digital asset risk.

Digital assets are high-risk and their value may fall as well as rise. Trading digital assets involves significant risk and may not be suitable for all investors. Past performance is not a reliable indicator of future results.

Forward-looking statements.

This document contains forward-looking statements regarding Fuutura, its technology, products, business plans and future conduct, including statements relating to the phased rollout of the ecosystem, regulatory engagement and licensing outcomes, geographic expansion, and market ambitions. Forward-looking statements are identifiable by words such as “building,” “plans,” “intends,” “expects,” “designed to,” “anticipates” and similar expressions, as well as by statements regarding future outcomes, ambitions or strategic direction.

Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that could cause actual outcomes to differ materially from those expressed. These include, without limitation, changes in the regulatory environment across jurisdictions; the availability and timing of licensing or authorisation; developments in digital asset markets; technological and cybersecurity risks; operational risks; counterparty and third-party risks; the pace of product development; and other factors beyond Fuutura’s control.

No offer or advice.

Nothing in this document constitutes an offer to sell, a solicitation to purchase, investment advice, or a recommendation in respect of any digital asset, crypto-asset, token, security, or financial product or instrument. Fuutura’s products and services may not be available in all jurisdictions and may be subject to regulatory restrictions. Access to Fuutura’s platform is restricted to residents of jurisdictions where its services are permitted.

No duty to update.

Fuutura undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

Restricted Jurisdictions.

NOT FOR DISTRIBUTION TO, OR USE BY, PERSONS IN RESTRICTED JURISDICTIONS.

This communication is directed exclusively at persons outside, and must not be acted upon by any person in or resident of, the United Kingdom, the European Union or European Economic Area (including Iceland, Liechtenstein and Norway), Switzerland, the United States of America, Canada, Australia, Japan, any FATF-listed high-risk or monitored jurisdiction, or any jurisdiction subject to comprehensive United Nations, European Union, United Kingdom or United States sanctions (the “Restricted Jurisdictions”). It is not an offer, solicitation, inducement or recommendation in respect of any digital asset, token, security or financial product. Fuutura holds no regulatory authorisation in any Restricted Jurisdiction; its products and services are not available to persons in or resident of any Restricted Jurisdiction; and access to Fuutura’s platform is restricted at the onboarding and protocol level.

Hashtag: #Fuutura

https://fuutura.com/

The issuer is solely responsible for the content of this announcement.

ABOUT FUUTURA

Fuutura is a blockchain infrastructure company building a compliance-first, accessible financial ecosystem for global financial inclusion. The platform brings together a reusable digital identity layer, a non-custodial multi-chain wallet, and a digital asset exchange spanning cryptocurrencies, stablecoins, and tokenised real-world assets. Identity verification and compliance attestation are built into the base architecture. Fuutura is designed to be open to regulatory oversight from the protocol layer up.

御廚傳承 五十載廚藝

黎耀楷師傅出身廚藝世家，太爺爺為清朝光緒年間宮廷御廚，家傳六本宮廷秘方，歷三代而至黎師傅手上。黎師傅 14 歲入行，23 歲已晉升大廚，歷任國際烹飪藝術大師、世界飯店美食會香港分會副會長、中華廚藝學院高級教導員，以及香港學術及職業資歷評審局評審委員，擅長川粵懷舊菜。黎師傅近年更獲頒「2025 香港飲食年鑑最高終身成就獎」及「2025 年香港飲食非遺大使」雙重殊榮，乃業界公認之御廚傳承代表人物。

是次合作中，黎師傅以 EX M 雞球炒鮮蘆筍、EX M 中式牛柳、EX M 滷水羊腩、EX M花膠及內含肉類的煲湯料。 五道菜式融入 EX M，從家常小炒、嫩肉爆炒、滷水重味，以至湯品中高端食材入饌，實證此革命性醬汁如何覆蓋光譜兩端之食材，更上一層樓。

綜合五道菜之實踐，黎師傅就 EX M 之功效，總結出四項核心突破：

一、鎖住氨基酸並補充水分 令肉質多汁鮮嫩

肉類於烹調過程中，氨基酸與水分流失乃鮮味散失之元兇。EX M 之分子結構能於醃製階段滲入肉纖維，鎖住氨基酸並補入水分。EX M 滷水羊腩乃此功效之最佳例證——黎師傅僅以約一成 EX M 入滷，毋須繁複香料，羊腩外裹滷香，內藏原汁，夾起時肉汁猶能外溢。黎師傅指出：「傳統粵式燜法須以重料壓羶，食客所嚐者乃調味料而非羊肉本身。EX M 並不喧賓奪主，而是鎖住肉汁，讓羊肉本身之鮮甜躍然舌上。」EX M 中式牛柳亦同此理——猛火爆炒下，EX M 鎖住氨基酸與水分，牛柳不致出水變韌，肉汁飽滿，鑊氣與本味並存。

二、自然放鬆肌肉纖維 帶來柔嫩口感及質感

黎師傅在炮製EX M 雞球炒鮮蘆筍時，發現經 EX M 醃製後之雞球，咀嚼輕鬆，肉質鬆軟而不失彈性。此特質令 EX M 有別於小蘇打：後者雖能嫩化肉質，惟易致鬆散變質、產生鹼澀怪味；EX M 則能自然放鬆纖維而不破壞肉質結構，亦不帶任何異味，乃一般食品輔料難以兼顧之多重效益。同樣效果於EX M 中式牛柳亦清晰可見——牛柳纖維鬆而不散，質感遠勝以小蘇打或傳統嫩肉粉處理者。

三、大幅提升滋味和新鮮感

EX M 之獨特之處，在於放大食材本味而不予搶風味。黎師傅形容其為「味道放大器」，能引發肉類深層之蛋白質甜味，呼應宮廷烹飪「和而不沖」之古老哲學。此功效於EX M 煲湯之湯料肉體現得最為徹底——港人煲湯文化深厚，惟湯渣肉每遭棄置，或沾豉油後才可勉強食用。黎師傅謂之「味道斷層」：傳統豉油令食材變酸變膩，徒有重味而失本鮮。EX M 之分子結構瞬間填補肉纖維流失之鮮味空間，平民湯料立化御膳，回甘之鮮自舌底湧出。

四、帶來持久濃厚回味之 Kokumi 體驗

Kokumi（濃味）乃宮廷烹飪哲學追求之最高境界——味道於口腔內飽滿擴散，吞嚥之後餘韻仍縈繞舌齒。黎師傅指出，宮廷廚師畢生追求純淨滋味、和諧平衡、持久深度，此即今人所謂 Kokumi 之境界。即使經幾百年宮廷技藝錘鍊，欲於日常烹調中穩定達致水分充足、自然柔嫩、滋味鮮明、口感持久之境界，仍極具挑戰。把EX M用於花膠處理尤為顯著：並非於浸發階段使用，而是於快速燴煮階段加入，腥味於燴製中徹底瓦解，膠質豐厚之滋味於齒頰間久久不散，廉價花膠經此處理，達致類似或甚至超越高級花膠之水準。

試用 EX M 醬後，黎師傅總結：「EX M 鎖住肉質之氨基酸並補充水分，令肉質多汁鮮嫩；自然放鬆肌肉纖維，帶來柔嫩口感及質感；大幅提升滋味和新鮮感；帶來持久濃厚回味之 Kokumi 體驗。觀乎五菜實踐，此四項突破於大多數菜式中皆能一一體現。廚師若以 EX M 入饌，省時之餘，菜式水準亦更上層樓。」

新福記酒家 宮廷小滿漢「EX M鹿名宴」登場

黎師傅同時擔任新福記酒家顧問，將於餐廳推出以 EX M 為核心之宮廷小滿漢「鹿名宴」主題套餐，將 EX M 之質地與風味優勢應用於多款菜式，讓食客親身品嚐御廚傳人傳承與現代烹飪技術完美結合之突破性宮廷主題料理。

全宴共設十品，菜式名稱皆取意典雅，呼應宮廷之風。EX M 醬料貫穿，助提升鮮味、濃味、鎖水保汁及質地口感。

菜式如下：
EX M袖掩金釵 ─ 蘆筍雲腿釀雞翼
EX M玉帶環腰 ─ 蟹黃節瓜煎釀帶子
EX M王侯玉扣 ─ 南瓜汁扣花膠
EX M金縷銀針 ─ 紅燒素翅
EX M麟潛碧海 ─ 雞油花彫蒸東星班
EX M竹溪疏影 ─ 竹笙扒時蔬
EX M五穀豐登 ─ 三色炒飯
慈禧桂花糕 ─ 桂花糕
EX M福壽延年 ─ 蔥油拌麵
雪點清蓮 ─ 雪耳蓮子糖水

$1,088 / 位，於2026 年 6 月 1 日起接受預訂。

黎耀楷師傅【EX M開啟第六感：禦廚傳人傳承鮮味與濃味】影片發布

由 2026 年 5 月 14 日起為期約一個月內，Exotica Umami EX M Sauce 之 YouTube、Instagram 及 Facebook 官方頻道將陸續推出多輯影片，涵蓋不同菜式之食譜示範與專業評析，敬請密切留意。

Hashtag: #ExoticaUmami #exmsauce

The issuer is solely responsible for the content of this announcement.

關於 Exotica Umami（EX M）

Exotica Umami（EX M）乃多功能烹飪醬料兼滋味增強，具備深邃飽滿之 Umami 醇厚風味，適用於醃製、調味、烹煮以至提味收尾，協助廚師將菜式提升至全新水平。

EX M 由香港美食創新家 Dan Gan 獨創，產品靈感源自古羅馬烹飪傳統配方。

現於香港之銷售管道：

• Instagram：@exmsauce
• 網店：https://knt1tx-0y.myshopify.com/
• info@exoticaconcepts.com

Vietnam’s First Mixed-Use Landmark Destination

Set opposite Ben Thanh Market, One Central Saigon is a landmark mixed-use destination where luxury living, hospitality, retail and business converge at the centre of Ho Chi Minh City. The project also marks The Ritz-Carlton hotel brand’s debut in Vietnam, alongside The Ritz-Carlton Residences, Saigon, Grade A+ offices, curated retail, services and fine dining.

HO CHI MINH CITY, VIETNAM – Media OutReach Newswire – 13 May 2026 – Masterise Homes, a member of Masterise Group, has officially launched One Central Saigon, Vietnam’s first mixed-use landmark destination, marking the arrival of a new address where international standards of living, hospitality, retail, business and services come together in Ho Chi Minh City.

The launch event was attended by representatives of Ho Chi Minh City government authorities, senior leaders from Masterise Group, Masterise Homes and Marriott International, as well as leading experts in real estate, economics and tourism.

Over the past decade, the centre of gravity of the global economy has shifted decisively towards Asia, with Vietnam emerging as one of the region’s most compelling growth stories. Ho Chi Minh City, the country’s economic engine, is entering a new phase of development as a dynamic, deeply connected metropolis.

Around the world, certain developments have helped shape how cities are recognised internationally, from Hong Kong’s IFC and Singapore’s Marina Bay Sands to Kuala Lumpur’s Petronas Twin Towers and Dubai’s Burj Khalifa. These projects did more than create striking skylines. They helped shape how the world sees their cities and countries. One Central Saigon is positioned within this tradition of city-shaping developments, with a vision that combines international standards, Vietnamese identity and long-term urban value.

“We believe Vietnam has reached the moment where it is ready for a development of the calibre of One Central Saigon,” said Ms Nguyen Thi Minh Phuong, Managing Director, Southern Region, Masterise Group. “The project has been present in Ho Chi Minh City for some time and has passed through several phases of development. Today, it is being introduced with a clearer vision. With a sense of responsibility to contribute to the nation’s development journey in a new era, Masterise Group aspires to continue building an iconic landmark where the world’s highest experiential standards converge with the identity, energy and ambition of the city. This is also how we contribute to projecting the image of a modern, confident and culturally rich Vietnam onto the international stage.”

A rare address in the city’s historic core
For more than a century, Ben Thanh Market has been one of Ho Chi Minh City’s great urban constants: a place of trade, arrival and encounter, and one of the few landmarks instantly recognised across Vietnam and beyond.

Its clock tower, market halls and surrounding streets are woven into the city’s daily rhythm and public memory, giving the area a significance that extends far beyond location. Set directly opposite the market, with four rare frontages along Pham Ngu Lao, Calmette, Le Thi Hong Gam and Pho Duc Chinh streets in the former District 1, One Central Saigon holds one of the city’s most strategic locations and shares a unique connection with Ho Chi Minh City’s historic urban core.

One Central Saigon will rise as two towers above a retail and commercial podium on an 8,537 sqm site, with 19,990 sqm of commercial space across seven above-ground levels and six basement floors. The retail centre is envisioned as a destination for luxury retail, curated services and fine dining, with brands and experiences selected for both international appeal and the evolving needs of Vietnamese customers. Its basement levels will connect directly to Ben Thanh Metro Station via an underground link, integrating the project with the city’s public transit network.

Together with Grade A+ offices, The Ritz-Carlton, Saigon and The Ritz-Carlton Residences, Saigon, the development forms a seamless mixed-use ecosystem for luxury living, hospitality, retail, business, services and lifestyle experiences at the centre of Ho Chi Minh City.

Song Long Ngậm Ngọc: Vietnamese symbolism, global expertise
The architecture of One Central Saigon is inspired by Song Long Ngậm Ngọc, or Twin Dragons Playing with a Pearl, a Vietnamese cultural motif associated with strength, prosperity and wisdom. The two towers rise and converge around a central point, creating a contemporary architectural expression of Vietnamese identity within the Ben Thanh district.

Among the tallest twin towers in Vietnam and the region, One Central Saigon is a structurally complex undertaking that requires significant investment, precision, and attention at every stage of execution. The project brings together an international design and construction team, including Arquitectonica as design architect, HBA for interior design, B+H, a member of Surbana Jurong Group, as executive architect, and Turner for project management.

International operational standards add another defining layer of value to One Central Saigon. With more than a century of heritage in luxury hospitality, The Ritz-Carlton brings refinement, attention to detail, privacy and highly personalised service to the project’s ultra-luxury positioning.

The Ritz-Carlton Residences, Saigon opens a new chapter in ultra-luxury living, while The Ritz-Carlton, Saigon marks the hotel brand’s debut in Vietnam, reflecting Ho Chi Minh City’s growing appeal to international travellers, investors, entrepreneurs and high-net-worth individuals.

The Grade A+ office component is designed for global corporations and forward-thinking business leaders seeking a workplace within a 5-star international ecosystem.

Vietnam’s luxury momentum accelerates
The launch comes as Vietnam continues to attract global capital, international brands and a rising generation of high-net-worth consumers. Official data showed real GDP growth of 8.02% in 2025, up from 7.09%, while foreign direct investment reached a record US$27.62 billion.

Tourism is adding further momentum. Vietnam welcomed nearly 21.2 million international visitors in 2025, its strongest year for inbound tourism, while Ho Chi Minh City received nearly 8.6 million international visitors, up 40.3% year on year.

Branded residences are following the same trajectory. Savills reports that branded residences in Asia Pacific increased by 55% over the past five years, while C9 Hotelworks’ Asia Branded Residences Market Review 2025 points to Vietnam as one of the region’s most important future supply markets.

For Masterise Group, One Central Saigon extends an international branded real estate portfolio that includes Grand Marina, Saigon, featuring Marriott and JW Marriott-branded residences, and The Ritz-Carlton Residences, Hanoi at The Grand. It also gives Vietnam’s ultra-luxury real estate growth story tangible form beside one of Ho Chi Minh City’s most prized historical sites.

As the city enters a new phase of development, expanding in both scale and quality, thoughtfully planned and professionally operated integrated developments such as One Central Saigon are expected to enrich the city’s tourism, services and urban experience ecosystem. The project is positioned to create lasting value for the community and elevate the standing of Ho Chi Minh City and Vietnam on the international stage.
Hashtag: #MasteriseGroup

The issuer is solely responsible for the content of this announcement.

About Masterise Group

Masterise Group is an international real estate development group, pioneering a comprehensive ecosystem spanning residential and hospitality developments, as well as urban infrastructure and logistics. Founded in 2007 as Thao Dien Investment and officially rebranded as Masterise Group in 2019, Masterise Group sees real estate as more than buildings; it is the foundation for a nation’s future, providing infrastructure for connection, momentum for progress, elevated living and generational legacy. With a long-term vision, Masterise Group continuously pushes boundaries, creates sustainable value, elevates quality of life and contributes to strengthening Vietnam’s new era of growth and global ambition.

Masterise Homes is a member of Masterise Group and manages and develops all of the group’s residential real estate brands. As Vietnam’s pioneer in branded real estate development, Masterise Homes’ mission goes beyond delivering architectural landmarks with refined design and integrated amenities. Masterise Homes strives to craft comprehensive living spaces where residents experience a standard of living that goes beyond the basic function of a home.

More info: https://masterisegroup.com/en.
For images: LINK

Transformational Acquisitions Expected to Contribute to Long Term Growth Starting 2Q26

HONG KONG SAR – Media OutReach Newswire – 13 May 2026 – Bora Pharmaceuticals (“Bora”; TWSE: 6472; OTCQX: BORAY) today announced its financial results and operational highlights for 1Q2026 and provides full year outlook.

1Q26 Business and Financial Highlights

• The Company reported 1Q26 revenues of NT$4,001 million, down 17.68% sequentially, with basic EPS of NT$0.21. Gross margin stabilized quarter-over-quarter. The quarter reflected temporary slowdown across both businesses: pricing and demand variability in the generics market through January and February left Upsher-Smith’s 1Q26 revenue 18.63% below the trailing four-quarter run rate, while the scheduled annual maintenance of 6 weeks of our Maryland fill-finish facility limited fixed-cost absorption during the quarter, weighed on earnings quality.
• March saw a rebound in both businesses as conditions improved for both the top and bottom lines with steady demand. During the quarter, the Company advanced Maple Grove site ramp-up significantly, with several multi-year CDMO agreements signed or progressing across pharma clients of various sizes. Additionally, the Company continues to win new CDMO business as 12-month rolling backlog arrived at US$315 million. With a healthy order book at North American sites entering the second quarter, we expect fixed-cost leverage to resume, driving profit improvement as utilization builds across the installed asset base. Meanwhile, Upsher-Smith has successfully defended market share and is deploying lifecycle management initiatives that reinforce our ability to set the cadence of sales in a dynamic competitive environment.
• Non-operating loss primarily reflected a wider equity loss from affiliate Tanvex Biopharma, together with higher tax expense driven by annual 1Q recognition of tax from undistributed earnings of the previous year.
• Disciplined OPEX control has driven expenses down 14.87% quarter-over-quarter and 14.41% year-over-year. This signals that resources have settled in as we begin to see advantages in scale; The Company expects ROA and ROIC to trend gradually upward, albeit with some quarter-to-quarter variability as operating leverage builds.
• Board of Directors approved the acquisition of the CDMO business of MacroGenics Inc. (NASDAQ: MGNX), for total consideration of US$122.5 million, leading to a total 12-month rolling backlog upon closing to approximately US$375 million.
• Sunway Biotech’s Board approved the 100% acquisition of Weider Global Nutrition (“WGN”), an iconic Phoenix-based American sports nutrition brand with a strategic Costco U.S. supplier relationship, commercial presence in 60+ countries, and established positions on Amazon and Walmart. The transaction completes Bora Group’s three-platform architecture, namely CDMO, pharma sales, and nutraceuticals operated under our “dual engine” strategy.
• Share capital increased 0.04% during the quarter from employee stock option exercise.

Mr. Bobby Sheng, Chairman of Bora Group, stated, “The beginning of 2026 was eventful and challenging both in the world and at Bora. We have seen supply chain disruptions, inflation from wars, and continuous geopolitical tensions. Yet through it all, Bora Group’s disciplined approach to growth-oriented investment remained unwavering.

Our CDMO business CAPEX-to-revenue ratio reached an all-time high of over 10% in 2025, marking another year of upward progression and bringing the Company to a level comparable with established global CDMO peers. This marked a deliberate shift in where we direct investments from capacity-led expansion that defined our earlier growth chapters to a sharper focus on capability demands and modality, anchored in innovation and technology. Over the past 18 months, we have pursued an ambitious growth trajectory against a dynamic macroeconomic backdrop – recalibrating expectations, sharpening our strategy, and reaffirming long-term plans. The underlying demand environment supports our conviction: global pharma is growing at 5-8% per year, biologics CDMO outsourcing demand at 15%+ and small-molecule outsourcing demand at 8-10%. With our investment foundation now in place, we believe our CDMO business is positioned to compound organically at 13-23% annually.

In the first quarter, we executed a series of organizational adjustments, each aligned to a specific dimension of customer demand. We established the MSAT (Manufacturing, Science and Technology) function within the CDMO business, the R&D backbone of the platform, to deepen scientific and technical capability across our entire client base, an increasingly critical asset as small and mid-sized biotech and pharma clients rethink their supply chain. In parallel, we repurposed the Strategic Enterprise Account Management team into a networked model to serve clients for whom customer proximity is paramount. Together, these capability investments target specific customer pain points and position Bora to navigate the evolving political and economic landscape and capture a new chapter of commercial momentum.

To sum up, CDMO business in 1Q26 delivered US$27.2 million in total external wins on top of orders on hand, 60% or 7 molecules from pre-commercial programs. For context, full-year 2025 saw 16 pre-commercial molecule signings; 1Q26 alone has already secured nearly half that count in a single quarter. This run-rate acceleration is a leading indicator: as our capability investments take hold, forward visibility and growth potential are set to compound. Bora’s CDMO business has entered a new phase. Reinforcing this trajectory, the Group’s recently announced acquisition of MacroGenics’ Rockville, Maryland CDMO facility adds a substantial commercial-stage monoclonal antibody programs backlog and manufacturing expertise to the Group. Equipped with five 2,000-liter and two 500-liter single-use bioreactors and integrated QC and analytical labs and currently generating more than half of revenues from commercial manufacturing, the transaction marks a pivotal step in scaling Bora’s integrated biologics CDMO platform, known as Bora Biologics. DS and DP capabilities shall be integrated over the next 12–18 months to offer global biotech customers a single partner from development through commercial supply in the U.S..

On the pharma sales side, the Group faced competition across a handful of core generic products. Upsher-Smith is navigating the competitive landscape with a clear focus on the most margin-accretive opportunities while continuing to scout niche, brand-oriented assets. Near-term, DLS market share has been defended; over the medium term, sustained market share maximization of the infantile spasm franchise coupled with swift pipeline replenishment weighted toward differentiated assets is critical. In the first quarter, we saw unique patients for VIGAFYDE grew by more than 140% over same period last year and a continuous increase in new patients. Both healthy signs of steady execution pace building up to durable resilience in the pharma sales business.”

1Q26 Operational Achievements & 2026 Outlook

Global CDMO Operations

Revenues declined 24.62% year-over-year and 30.15% quarter-over-quarter including internal orders, mainly due to above-mentioned maintenance at fill and finish facility in Maryland, a routine cycle factored into our operating plan, and seasonality at Canada site. To scale biologics CDMO one-stop-shop platform in commercialized projects with SUB (Single Use Bioreactors) in the US; Board of Directors approved the acquisition of Rockville, Maryland based drug substance facility from MacroGenics for US$122.5 million.

Following closing, Bora Group intends to leverage the Rockville Site in cooperation with Tanvex Biopharma (TWSE: 6541), which operates the Group’s biologics CDMO franchise under the “Bora Biologics” brand. Together with Bora’s sterile drug product capabilities, this is expected to expand and strengthen the Group’s end-to-end biologics platform. The Rockville facility has operated as an outsource manufacturing partner since 2022 and is equipped with five 2,000-liter and two 500-liter single-use bioreactors and fully integrated QC and analytical laboratories and has been inspected by both the U.S. FDA and Japan’s PMDA.

During the quarter, 0.44 billion doses, or 108 molecules, were developed and manufactured. Excluding internal orders, the business accounted for 37.73% of consolidated revenues. Contribution from the top 20 global pharmaceutical companies stood at 32.10%.

As the Company continues to expand its CDMO capacity and capabilities, this year’s CAPEX plan is closely linked to the contracting cadence of a key customer anchored at Bora’s North American CDMO network. The Group expects to complete Maple Grove’s capital expenditure program in the first half of the year, sequencing the investment to grow in step with major pharmaceutical partners’ supply chain plans and optimize return on capital deployed.

Pharma Sales Operations

Discontinued operations impact in 2025 has materially abated this quarter, positioning Upsher-Smith to re-accelerate organic growth in 2026. Management has defined two strategic priorities for 2026, designed to enhance capital efficiency and sharpen commercial focus:

First, R&D capital allocation optimization. 505(b)(2) Pipeline programs have been transferred to Salus Therapeutics, an equity-method affiliate. Under this structure, Upsher-Smith retains the right to economic participation in commercial outcomes while shareholders’ exposure to early-stage development and regulatory risks, and associated cash burden is meaningfully reduced. The decision is consistent with the Group’s capital discipline observed across businesses.

Second, institutionalizing pipeline expansion capabilities. An integrated business development and medical affairs function is being established to systematically evaluate in-licensing, co-promotion, and bolt-on opportunities. This integrates Bora’s proven asset-selection and M&A strategy directly into Upsher-Smith’s commercial infrastructure, enabling franchise compounding through targeted external sourcing rather than capital-intensive internal development. These lifecycle initiatives focus but are not limited to pediatric epilepsy opportunities.

Collectively, Management expects Upsher-Smith to evolve fully into a capital efficient, commercially led, and therapeutically centered vehicle designed to deliver sustained shareholder value before exiting 2026.

Recent Investor Conference

Bora will host English online earnings call at 7:30 a.m. Taiwan time on May. 14^th, 2026. The event will cover the Company’s 1Q26 financial and business results and 2026 outlook.

English Online Earnings Presentation Link: https://events.q4inc.com/attendee/372103448

Bora will participate in 2026 Yuanta Securities Investment Forum in June. For 1:1 meetings with management, please contact your Yuanta representative.

Bora 2026 Earnings Schedule

Q2 2026: Expected in the 2^nd week of Aug 2026
Q3 2026: Expected in the 2^nd week of Nov 2026
Q4 2026: Expected in the 2^nd week of Mar 2027

Hashtag: #BoraPharmaceuticals

The issuer is solely responsible for the content of this announcement.

About Bora

Founded in 2007, Bora Pharmaceuticals (“Bora” or “the Company”, 6472.TW and BORAY.OTCQX) is a leading pharmaceutical services company with a vision and goal of “Contributing to Better Health All Over the World”. Operating under a “Dual Engine” model that integrates CDMO and commercial expertise, we empower pharmaceutical and biotech partners to optimize product development, accelerate launches, and scale supply to meet global patient needs. At the same time, we actively broaden R&D and sales infrastructure, focusing on niche and rare disease markets to improve patients’ quality of life.

By investing in talent, infrastructure, and biologics expansion, Bora continues to transform operations and achieve sustainable growth. Committed to making success “certain,” Bora sets new standards in the pharmaceutical and CDMO industries.

For more, please visit:
https://www.bora-corp.com
https://www.boracdmo.com

Disclaimer:

This document and the accompanying information may contain forward-looking statements. All statements regarding the company’s future business operations, potential events, and prospects (including but not limited to forecasts, targets, estimates, and operational plans) are considered forward-looking statements unless they refer to factual occurrences. Forward-looking statements are subject to various factors and uncertainties that may cause significant differences from actual results, including but not limited to price fluctuations, actual demand, exchange rate variations, market share, competitive conditions, changes in the legal, financial, and regulatory framework, international economic and financial market conditions, political risks, cost estimates, and other risks and variables beyond the company’s control. These forward-looking statements are based on current predictions and assessments, and the company disclaims any responsibility for future updates.