ChangAn Unveils Vast Ocean Plan Global Expansion Milestones Following Official Launch of First International NEV Factory in Rayong, Thailand
RAYONG, Thailand, May 20, 2025 /CNW/ -- ChangAn Automobile ("ChangAn" or "the Company"), an intelligent low-carbon mobility technology company, recently officially commenced production at its first international NEV manufacturing base in Rayong, Thailand, coinciding with both the roll-off of its 28.59-millionth vehicle, and the celebration of the 50th anniversary of diplomatic ties between China and Thailand, marking a truly major milestone. The factory launch is a landmark event of ChangAn's Vast Ocean Plan for global expansion that represents a shift from brand internationalisation to the export of full industries.
Mr. Zhu Huarong, Chairman of ChangAn Automobile, shared: "Our aim is to build this factory as a global benchmark. We will continue to focus on long-term growth, and mutually beneficial, low-carbon, localised operations. To lead sustainable mobility and benefit human life is ChangAn's mission, and despite the huge challenges currently posed by anti-globalisation, we are fully committed to our Vast Ocean Plan."
ChangAn's Vast Ocean Plan drives global expansion across five regions, advancing its goal of becoming a world-class automobile brand. Over three years, the Company filed over 14,000 patents, with 70% for inventions, averaging 19 per workday, maintaining top R&D rankings. ChangAn fosters global talent focusing on professionalism, youth, internationalisation, and market orientation. Its industrial footprint includes 20 planned factories, with nine KD plants and one full vehicle plant operational. Marketing includes 22 brand launches across Southeast Asia, Europe, Latin America, the Middle East and Africa, with over 9,000 outlets. ESG investments exceed 30 million yuan annually, supporting public welfare worldwide.
ChangAn's Vast Ocean Plan has accelerated the Company's global expansion since its 2023 launch. With five major international regions established, ChangAn set overseas sales records in 2024. As the plan enters a new phase in 2025, the Company is sharing high-quality products and services worldwide at the speed of China. In Southeast Asia and Oceania, ChangAn has cultivated key right-hand-drive markets. Construction of the Rayong factory in Thailand began in November 2023, and mass production started in May 2025. In the region, the DEEPAL S05 and extended-range EV debuted at the 2025 Bangkok International Motor Show. The factory marks a shift from product exports to full-industry exports. In Latin America, ChangAn hosted a brand conference on July 23, 2024, accelerating the rollout of high-value products to meet diverse local needs. After 30 years in the Middle East and Africa, a brand launch in September 2024 introduced six new energy models. Plans include local subsidiaries, joint ventures, and expanded services. In Europe, where ChangAn established its Turin Design Center in 2001, a brand launch in Germany on March 21, 2025, marked renewed commitment to sustainable mobility through localised R&D and the "In Europe, For Europe" strategy.
ChangAn will pursue its "four ones" development goals and advance its global strategy, elevating five major international markets to the same strategic level as China. The Company aims to grow its global market capacity from 30 million to 50 million and accelerate localisation in these regions. ChangAn plans to expand production with 11 KD projects in countries such as Kazakhstan and Egypt, reaching 500,000 vehicles in international capacity.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
10 minutes ago
- Cision Canada
KITS Eyecare Reports Record Second Quarter 2025 Results
VANCOUVER, BC, Aug. 5, 2025 /CNW/ - Kits Eyecare Ltd. (TSX: KITS) ("KITS" or the "Company"), a leading vertically integrated eyecare provider, is reporting its results for the second quarter ended June 30, 2025. Second Quarter 2025 Financial & Operational Highlights For the second quarter of 2025, compared to the second quarter of 2024: Revenue increased by 31.0% to a record $49.6 million compared to $37.9 million Gross profit was $18.0 million, or 36.3% of revenue, compared to $12.4 million or 32.8% of revenue Adjusted EBITDA improved by $1.3 million to $2.6 million compared to $1.3 million Record new customers of 111,300, an increase of 54.6% year-over-year Glasses revenue increased by 44.4% to a record $7.2 million compared to $5.0 million Year-to-Date 2025 Financial & Operational Highlights For the six months ended June 30, 2025, compared to the six months ended June 30, 2024: Revenue increased 32.4% to $96.2 million compared to $72.6 million Gross profit was $35.1 million or 36.5% of revenue, compared to $23.6 million or 32.5% of revenue Net income was $0.9 million compared to a net income of $0.3 million Adjusted EBITDA improved by $4.1 million to $6.0 million compared to $1.9 million Management Commentary "KITS continues to prove what's possible when you combine a bold vision for the future of eyecare with operational excellence and financial discipline." said Roger Hardy, Co-Founder and CEO of KITS. "This quarter marks another milestone in our journey - with record revenues of $49.6 million and eleven consecutive quarters of positive Adjusted EBITDA, driven by strong new customer growth and a 44% year-over-year increase in glasses revenues. As we scale, we remain focused on reimagining the eyecare experience by making it faster, more affordable, and more accessible - while creating enduring value for our customers, our team and our shareholders. Second Quarter 2025 Financial Results Revenue increased by 31.0% to $49.6 million compared to $37.9 million in the second quarter of 2024. Growing traction across our eyecare offerings drove this performance and positions us well for continued momentum in the second half of 2025. Gross profit increased by 45.1% to $18.0 million compared to $12.4 million in the second quarter of 2024, while gross margin increased by 350 basis points to 36.3% compared to 32.8% in the second quarter of 2024. This margin expansion reflects continued progress in our initiatives, including refined pricing architecture, an increasing mix of higher value products, and disciplined promotional strategies designed to accelerate customer acquisition while supporting long term purchase behaviour. Net Loss was $0.7 million, or $(0.02) per share (basic), compared to a net income of $0.2 million, or $0.01 per share (basic), in the second quarter of 2024. Excluding exchange loss, net income was $1.0 million or $0.03 per share. The change in net income was attributed to a $1.7 million of non-operating exchange loss in the quarter. This impact stems primarily from the unrealized exchange loss from the revaluation of intercompany balances and long-term lease obligations. EBITDA decreased by $0.9 million to $0.2 million compared to $1.1 million in the second quarter of 2024, while Adjusted EBITDA improved by 96% to $2.6 million compared to $1.3 million in the second quarter of 2024. The improvement in Adjusted EBITDA was primarily driven by a steady base of recurring customer orders, helping to provide a reliable stream of long-term earnings and profitability. On June 30, 2025, cash and cash equivalents totaled $18.1 million compared to $19.3 million on December 31, 2024. Third Quarter 2025 Outlook For the third quarter of 2025, KITS management expects revenue to be in the range of $52.0 million to $54.0 million, with Adjusted EBITDA as a percentage of revenue between 5.0% and 7.0%. See "Forward-Looking Statements" below for important disclosure and risk with respect to expectations and forward-looking information. Conference Call KITS management will host the conference call followed by a question-and-answer period. To access the call instantly, please click here to register your name and phone number via the rapid connect link. The conference call will also be webcast live with a presentation and available for replay here and via the investor relations section of the Company's website at Date: Wednesday, August 6, 2025 Time: 9:00 a.m. Eastern time (6:00 a.m. Pacific time) Presentation webcast link: Rapid connect link: North American toll-free number: 1-888-510-2154 Local Toronto dial-in number: 1-437-900-0527 Confirmation #: 84266 # Financial Highlights The following selected financial information is qualified in its entirety by and should be read conjunction with our consolidated financial statements for the years ended June 30, 2025 and 2024 and accompanying notes and Management's Discussion and Analysis ("MD&A") which may be viewed on SEDAR at Three Months Ended Six Months Ended Financial and Operating Data June 30, 2025 (unaudited) June 30, 2024 (unaudited) June 30, 2025 (unaudited) June 30, 2024 (unaudited) Revenue............................................................................................... $ 49,580 $ 37,852 $ 96,175 $ 72,634 Net income (loss)................................................................................. $ (694) $ 187 $ 909 $ 251 Net income (loss) per share.................................................................. Basic................................................................................................. $ (0.02) $ 0.01 $ 0.03 $ 0.01 Diluted............................................................................................. $ (0.02) $ 0.01 $ 0.03 $ 0.01 Non-IFRS Measures (a): Constant currency revenue............................................................. $ 49,145 $ 37,852 $ 93,804 $ 72,634 EBITDA ............................................................................................ $ 243 $ 1,131 $ 3,345 $ 2,288 Adjusted EBITDA ............................................................................. $ 2,575 $ 1,316 $ 6,036 $ 1,925 Adjusted EBITDA Margin % .............................................................. 5.2 % 3.5 % 6.3 % 2.7 % Reconciliation of constant currency revenue Revenue......................................................................................... $ 49,480 $ 37,852 $ 96,175 $ 72,634 Foreign exchange impact .............................................................. (435) - (2,371) - Constant Currency Revenue........................................................... $ 49,145 $ 37,852 $ 93,804 $ 72,634 Change in constant currency ......................................................... $ 11,293 $ 21,170 Change in constant currency % ..................................................... 29.8 % 29.1 % Reconciliation of Adjusted EBITDA Net income (loss) for the period....................................................... $ (694) $ 187 $ 909 $ 251 Add back:.......................................................................................... Income taxes..................................................................................... 205 207 909 225 Finance costs – net........................................................................... 128 147 299 467 Depreciation and amortization.......................................................... 604 590 1,228 1,345 EBITDA............................................................................................... $ 243 $ 1,131 $ 3,345 $ 2,288 Add back Share-based compensation (b)........................................................... $ 644 $ 539 $ 913 $ 809 Exchange loss / (gain) ........................................................................ 1,684 (358) 1,771 (1,179) One-time costs (c) ............................................................................ 4 4 7 7 Adjusted EBITDA................................................................................ $ $2,575 $ 1,316 $ 6,036 $ 1,925 Revenue............................................................................................ $ 49,580 $ 37,852 $ 96,175 $ 72,634 Adjusted EBITDA Margin % (d)............................................................ 5.2 % 3.5 % 6.3 % 2.7 % Notes: (a) Refer to "Non-IFRS Measures and Industry Metrics" section of the MD&A filed on and below. (b) Represents non-cash share-based compensation expense associated with restricted share rights ("RSRs") and options recognized in the period. (c) One-time IPO directors' and officers' insurance costs which are expensed over the insurance coverage period. (d) Represents Adjusted EBITDA divided by revenue from the same period. About KITS KITS makes eyecare easy. KITS is a fast-growing consumer technology vision care brand using vertical integration to provide eyecare for eyes everywhere. KITS is redefining how the world experiences eyecare. As a fast-growing, vertically integrated vision care platform, we combine digital innovation, operational excellence, and customer obsession to make eyecare easy, accessible, and affordable—for eyes everywhere. Through our advanced technology stack and proprietary suite of online vision tools—including OpticianAI™, our AI-powered fitting engine trained on more than one million customer interactions—we help customers find their perfect fit, guaranteed. Whether selecting high-quality contact lenses or exclusive KITS-designed eyeglasses, our platform delivers precision, personalization, and confidence with every order. Our end-to-end infrastructure—from in-house frame design and North American optical lab to just-in-time manufacturing and intelligent fulfillment—enables us to deliver made-to-order products with category-leading speed, accuracy, and value. By removing intermediaries and leveraging real-time data, we offer competitive prices, exceptional customer service, and a seamless digital shopping experience. Our Autoship subscription program enhances convenience by ensuring recurring delivery of vision essentials with minimal effort and maximum reliability. At KITS, our mission is to earn our customers' lifelong trust by delivering beautiful products they love, service they remember, and an experience that sets a new standard for the future of eyecare. For more information on KITS, visit: Non-IFRS Financial Measures and Industry Metrics This press release includes references to certain non-IFRS financial measures such as Constant Currency Revenue, EBITDA and Adjusted EBITDA, and certain industry metrics. These financial measures and industry metrics are employed by the company to measure its operating and economic performance and to assist in business decision-making, as well as providing key performance information to senior management. The company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors and analysts use this information to evaluate the company's operating and financial performance. These financial measures are not defined under IFRS, nor do they replace or supersede any standardized measure under IFRS. Other companies in our industry may calculate these measures differently than we do, limiting their usefulness as comparative measures. Definitions and reconciliations of non-IFRS measures to the nearest IFRS measure and Industry Metrics can be found in our Management's Discussion and Analysis. Such non- IFRS reconciliations can also be found in this press release under "Financial Highlights". Forward-Looking Statements This press release contains forward-looking statements, including statements relating to the execution of our proposed strategy, our operating performance, our expectations and outlook for the third quarter of 2025 and prospects for the business. These forward-looking statements generally can be identified by the use of words such as "intend," "believe," "could," "continue," "expect," "estimate," "forecast," "may," "potential," "project," "plan," "would," "will," and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such a statement. Our business is subject to substantial risks and uncertainties. This forward-looking information and other forward-looking information are based on our opinions, estimates and assumptions in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct or that our expectations for the third quarter of 2025 will be achieved. Certain assumptions in respect of the expansion and enhancement of our fulfillment network, including our optical laboratory for glasses and warehouse facilities; the growth of our business and launch of new technologies; premium lens adoptions and smart eyewear expansion; our ability to drive sales growth; our ability to maintain, enhance, and grow within our addressable market; our ability to drive ongoing development and innovation of our exclusive brands and product categories; our ability to continue directly sourcing from third party suppliers and manufacturers; our ability to retain key personnel; our ability to add, maintain and expand production, distribution and fulfillment capabilities; our ability to continue investing in infrastructure to support our growth; our ability to obtain and maintain existing financing on acceptable terms; currency exchange and interest rates; the impact of competition; the changes and trends in our industry or the global economy; the impact of tariffs and U.S. and international trade actions, policies and reform; and the changes in laws, rules, regulations, and global standards. KITS' risks and uncertainties are discussed in detail in the company's Annual Information Form, filed on SEDAR on March 5, 2025. Investors, potential investors, and others should give careful consideration to these risks and uncertainties. We caution investors not to rely on the forward-looking statements contained in this press release when making an investment decision in our securities. The forward-looking statements in this press release speak only as of the date of this release, and we undertake no obligation to update or revise any of these statements, except as required under applicable securities laws. If we do update certain forward-looking information, no inference should be made that we will further update such or other forward-looking information.
Cision Canada
40 minutes ago
- Cision Canada
Viewpoint Global Multi-Asset Trust Announces Change in Investment Risk Classification in Series F- USD (VWP 209)
CALGARY, AB, Aug. 5, 2025 /CNW/ - Viewpoint Investment Management Corporation, the manager of Viewpoint Global Multi-Asset Trust (the "Fund"), today announced a material change in the Fund's Series F-USD investment risk classification. Effective August 5, 2025, the Fund's risk rating will be updated from "Low to Medium" to "Medium." This change reflects a reassessment of the Fund's portfolio composition and risk profile, consistent with the guidelines set forth by the Canadian Securities Administrators (CSA). The updated risk rating better aligns with the Fund's current investment strategy and market conditions. Key Details: Fund Name: Viewpoint Global Multi-Asset Trust Fund Type: Alternative Mutual Fund Previous Risk Classification: Low to Medium New Risk Classification: Medium Effective Date: August 5, 2025 Reason for Change: Increased volatility and fluctuations in the US dollar exchange rate has contributed to a higher overall portfolio risk profile, consistent with the Fund's exposure to US assets and currency movements. This reassessment aligns with the Canadian Securities Administrators' standardized risk classification methodology and the Fund Manager's ongoing review of market conditions. What This Means for Investors Investors should be aware that the Fund's risk profile has increased slightly, which may result in greater volatility and potential fluctuations in returns. The Fund's investment objectives and management team remain unchanged, and the Fund continues to seek long-term capital growth consistent with its updated risk level. Additional Information Investors are encouraged to review the Fund's updated Fund Facts document and other disclosure materials, which are available on Viewpoint Investment Partners Corporation's website at and on SEDAR+ at About Viewpoint Investment Partners Corporation Viewpoint Investment Partners is a Calgary-based, family-founded investment management firm established in 2016, with roots dating back to the late 1990s as part of the broader Viewpoint Group. Founded by Mac and Rob Van Wielingen, the firm combines advanced data science with timeless investment principles to deliver innovative, rules-based investment strategies. They focus on risk-aware, diversified portfolios across global markets, using liquid, actively managed leverage to enhance returns without increasing concentration risk. The firm is driven by a commitment to investor alignment, with founders investing alongside clients. Their approach emphasizes evidence-based decision-making over forecasting, transparency, low fees, and high liquidity. Viewpoint's multidisciplinary team integrates expertise in quantitative finance, data science, and fundamental market knowledge to adapt strategies actively to changing market conditions. Their core philosophy centers on allocating risk rather than capital, aiming to provide consistent, superior outcomes through diversified, systematic strategies that reduce the impact of market downturns while capturing the diversification premium. Since its inception, Viewpoint has grown steadily, maintaining a research-led, technology-driven process that disrupts traditional investment management with innovation and intellectual rigor. Regulatory Notes This press release contains forward-looking statements. Actual results may differ materially. Investors should read the Fund's Prospectus and Fund Facts before investing.
Cision Canada
2 hours ago
- Cision Canada
Prime Minister Carney announces new measures to transform Canada's softwood lumber industry
West Kelowna, BC, Aug. 5, 2025 /CNW/ - The global trade landscape has fundamentally changed. To meet this moment, Canada's new government is developing a comprehensive industrial strategy. It will invest in domestic production, develop Canadian expertise, support our companies to retool and reinvest, and help industries pivot to a growing Canadian market and those of new, reliable trading partners around the world. As part of that strategy, the Prime Minister, Mark Carney, today announced a series of new measures to help the softwood lumber industry transform to remain competitive. These measures will help unlock the full potential of the industry as we scale up housing and major infrastructure construction and drive long-term economic growth, rooted in Canadian resources and innovation. Canada's new government will: Provide up to $700 million in loan guarantees to address the immediate pressures facing the softwood lumber sector. This will ensure companies have the financing and credit support they need to maintain and restructure their operations during this period of transformation. Invest $500 million to supercharge product and market diversification to make the industry more competitive for the long-term. As technology changes the way we build and demand grows for softwood lumber, this will increase domestic processing and value-added production. This investment will also include initiatives that support Indigenous-led forestry business development and diversification. Build Canadian by prioritizing Canadian materials in construction and changing federal procurement processes to require companies contracting with the federal government to source Canadian lumber. As the government delivers on its mandate to build major infrastructure projects faster and to increase the pace of homebuilding to nearly 500,000 new homes per year over the next decade, we will ensure Canadian lumber and other Canadian materials are prioritized in that construction. Once established, Build Canada Homes will provide financing to innovative private sector home builders in Canada that use Canadian technologies and resources, like mass timber and softwood lumber. Diversify international markets for Canada's sustainably sourced forest products. We will launch a new initiative to diversify exports of Canadian wood products, including the reinvigoration of federal programming to expand offshore markets for sustainable, innovative, high-quality products. In fast-growing regions with rising demand for housing and other buildings, we will promote Canadian lumber as an affordable, sustainable solution. Provide $50 million for upskilling, reskilling, and income supports for more than 6,000 affected softwood lumber workers through the Labour Market Development Agreements. This investment builds on temporary enhancements to the Employment Insurance (EI) program and the EI Work-Sharing program. Through this investment, we will equip workers with the tools and training they need to stay competitive – helping them adapt to new technologies, strengthen their expertise, and excel in changing industries. Canada's economy is shifting from reliance to resilience. During this time of transformation, these measures will ensure Canada's softwood lumber industry and workers are able to adapt and emerge even stronger. Quotes "The forest sector is a pillar of Canada's economy. As we shift from reliance to resilience, Canada's new government will ensure the industry can transform to seize new opportunities in Canadian and international markets. In the face of a changing global landscape, we are focused on what we can control – building Canada strong with Canadian expertise, using Canadian lumber." — The Rt. Hon. Mark Carney, Prime Minister of Canada "Canada's forestry sector is a cornerstone of our economy. It supports nearly 200,000 good jobs in both urban and rural communities and accounts for billions in contribution to Canada's GDP and exports every year. Through the actions announced today and existing supports, we are committed to protecting this key industry and the workers who power it." — The Hon. François-Philippe Champagne, Minister of Finance and National Revenue "Today's announcement showcases the Government of Canada's steadfast commitment to supporting the Canadian economy and the workers who keep it strong. By bolstering this key industry and ensuring resilient supply chains, we stand with the industry, its workers, and communities to keep Canada a trusted global trade partner." — The Hon. Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions "The world is changing, and Canada must be ready to meet the challenges of our times. That's why the government is taking action to support the workers and industries that build Canada – day in and day out. By strengthening what we have here at home and standing up for Canada, we're making sure our country stays strong, competitive, and ready to lead." — The Hon. Patty Hajdu, Minister of Jobs and Families and Minister responsible for the Federal Economic Development Agency for Northern Ontario "Canada's natural resources are not only a cornerstone of our national identity – they are the foundation of our economy. Protecting and modernizing our resource industries in the face of tariffs and global uncertainty is critical to safeguarding Canadian jobs and communities and ensuring a prosperous and strong future." — The Hon. Tim Hodgson, Minister of Energy and Natural Resources Quick facts Canada's forest sector is a major economic driver, supporting nearly 200,000 workers, including over 11,000 Indigenous Peoples, and contributing more than $20 billion to our GDP. In 2024, 66% of Canada's total softwood lumber production was exported, and of that, nearly 90% was exported to the U.S. On July 25, 2025, the U.S. Department of Commerce doubled duties on softwood lumber products from Canada, with further increases expected later this month. New and innovative forest products such as engineered timber, biofuels, and forest product-based biodegradable packaging materials are helping Canada reach net-zero by 2050 and enabling more sustainable, efficient housing solutions. Canada's new government will double the pace of homebuilding to almost 500,000 new homes a year over the next decade. That alone will double the use of Canadian softwood lumber in residential construction – an increase of almost 2 billion board feet – and it will double demand for structural panels – an increase of almost 1 billion square feet. Build Canada Homes, once established, will prioritize the use of Canadian-made materials – including lumber – to accelerate housing construction while supporting Canadian workers and industries. This document is also available at
