BingX Named Title Sponsor for GM Vietnam 2025, Cementing Leadership in Web3 and AI Innovation
Taking place August 1–2 at the National Convention Center in Hanoi, GM Vietnam 2025 will gather over 20,000 global participants — from developers and founders to investors and tech visionaries — to explore the next wave of decentralized innovation. BingX is proud to support this collaborative ecosystem where ideas and technologies converge.
This partnership reflects BingX's firm belief in innovation as the cornerstone of progress, echoed in its AI Evolution strategy, a $300M initiative to integrate AI deeply into every layer of the platform. From the BingX AI trading assistant to intelligent strategy tools, BingX is advancing a more personalized trading future — one that resonates with the spirit of GM Vietnam and the shared ambition to push Web3 forward.
"AI is not just a tool, it's a catalyst for redefining how users interact with digital assets," said Vivien Lin, Chief Product Officer at BingX. "As we embed AI into every layer of our platform, from market analysis to intelligent trade execution, our goal is to return dignity, autonomy, and confidence to every trader. This marks the beginning of a more intuitive, empowering trading era." Vivien will deliver a keynote and a panel at GM Vietnam outlining how AI transforms the role of centralized platforms in Web3, continuing the vision she shared at last year's event on building the infrastructure for next-generation Web3 incubation.
2025 marks BingX's second consecutive year as a leading sponsor of GM Vietnam, elevating from Diamond Sponsor in 2024 to Title Sponsor this year, underscoring the platform's longstanding commitment to fostering blockchain innovation and Web3 development in both rapidly-growing crypto markets like Vietnam and beyond.
About BingX
Founded in 2018, BingX is a leading crypto exchange and Web3 AI company, serving a global community of over 20 million users. With a comprehensive suite of AI-powered products and services, including derivatives, spot trading, and copy trading, BingX caters to the evolving needs of users across all experience levels, from beginners to professionals. Committed to building a trustworthy and intelligent trading platform, BingX empowers users with innovative tools designed to enhance performance and confidence. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports sponsorship.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Toronto Star
5 hours ago
- Toronto Star
Bitget Strengthens Regional Presence at Malaysia Blockchain Week 2025
KUALA LUMPUR, Malaysia, July 25, 2025 (GLOBE NEWSWIRE) — Bitget, the world's leading cryptocurrency exchange and Web3 company, participated in Malaysia Blockchain Week 2025, to strengthen its ties with Southeast Asia's fast-growing digital economy. The event, hosted at Kuala Lumpur's World Trade Centre, drew 3,300+ attendees from 20 countries, with support from Malaysian agencies like MDEC, the Ministry of Digital, and Tourism Malaysia. Bitget CEO Gracy Chen delivered a keynote address titled 'Two Strategies to Thrive in a Volatile Market.' She spotlighted Bitget's focus on real-world utility, from its $300M user Protection Fund to new tools like GetAgent (an AI trading helper) and xStocks for tokenized equities. Gracy pointed to her 2024 MYBW visit as the turning point. This year, she unveiled PayFi, Bitget's bid to simplify cross-border crypto payments in emerging markets. Bitget CEO Gracy Chen delivering her keynote on the mainstage of MYBW 2025. 'Malaysia Blockchain Week has become a key platform in this region,' said Gracy Chen, CEO of Bitget. 'Bitget will continue building here, through partnerships, localization, and product innovation. Our goal is to show up meaningfully, through utility, education, and experiences that resonate.' ARTICLE CONTINUES BELOW Bitget also teamed up with Pudgy Penguins (PENGU) to host Hype Drop: Kopi Rave, a side event held at Thong Kee Kopitiam in Kuala Lumpur. Blending wellness, streetwear, music, and collectibles, it drew over 400 attendees and generated strong social media buzz. Bitget Trivia winners with their various merch including the much-coveted Bitget Labubu doll. Malaysia Blockchain Week 2025 served as a timely stage for Bitget to reinforce its global leadership while celebrating Southeast Asia's role in Web3 adoption. From shaping cross-border payment infrastructure to pioneering real-world asset trading, Bitget's message at MYBW was clear: building in this space is about more than innovation. About Bitget Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform. Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP™, one of the world's most thrilling championships. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet For media inquiries, please contact: media@ Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use. Photos accompanying this announcement are available at:
Cision Canada
6 hours ago
- Cision Canada
CGTN: How China's economy remains vibrant despite U.S. tariff war
BEIJING, July 25, 2025 /CNW/ -- With Chinese Vice Premier He Lifeng to hold economic and trade talks with the United States in Sweden later this month, the strength and resilience of the Chinese economy is in the limelight once again. This round of talks, mutually agreed upon by both nations, is not only a diplomatic engagement but also a testament to China's enduring economic vitality in a complex international environment. Recent statistics underscore the robustness of China's economy. In the first half of 2025, the GDP grew by an impressive 5.3 percent year on year, surpassing market expectations despite global headwinds. This number reflects more than temporary growth; it exhibits the structural resilience and adaptability of an economy that continues to evolve and upgrade. Domestic demand emerged as the cornerstone of growth, contributing 68.8 percent to GDP expansion in this period. Initiatives such as large-scale equipment upgrades and consumer goods trade-in programs have effectively stimulated spending, cushioning China's economy from external shocks. In the first five months of 2025 alone, China's consumer goods trade-in program generated 1.1 trillion yuan ($153.1 billion) in sales, surpassing the figure for entire 2024. Boosted by the program, China's retail sales of consumer goods grew 5 percent year on year in the past six months – 0.4 percentage point faster than the growth recorded in the first quarter. While external uncertainties have introduced some pressure, China's trade diversification and the steady output of high-tech manufacturing and service industries have provided strong support to the economy. Though China's trade with some Western countries declined, its trade with Belt and Road partners, ASEAN countries, the European Union, and African nations saw respective increases of 4.7 percent, 9.6 percent, 3.5 percent, and 14.4 percent in the first half of 2025. This expansion of trade relationships has helped China reduce its reliance on any one market, lessening the impact of some Western economies' protectionist policies. China's resilience reverberates beyond its borders. As a crucial driver of global growth, China's steady economic performance boosts international market confidence and provides a stabilizing influence amid global uncertainties. Through continued focus on quality growth and opening up, China offers the international community a reliable engine for shared prosperity. A recent report from the U.S.-China Business Council indicates that 82 percent of American companies operating in China turned a profit in 2024. Though many cited the uncertainties in China-U.S. relations and tariffs as their main worry, the Chinese market continues to be crucial for them. Trade tensions pose obstacles, yet they have not crippled the resilience in the Chinese economy. The upcoming Beijing-Washington talks in Sweden demonstrate China's willingness to tackle differences via negotiations. While obstacles remain, China's ability to sustain growth, adapt to changing global landscapes, and engage constructively with international partners signals a future of shared opportunities and mutual advancement.
Cision Canada
11 hours ago
- Cision Canada
BIRKS GROUP INC. REPORTS FISCAL 2025 RESULTS Français
, July 25, 2025 /CNW/ - Birks Group Inc. (the "Company" or "Birks Group") (NYSE American: BGI), today reported its financial results for the fiscal year ended March 29, 2025. Highlights All figures presented herein are in Canadian dollars. For the fiscal year ended March 29, 2025 ("fiscal 2025"), the Company reported net sales of $177.8 million, a decrease of $7.5 million or 4.0%, from the comparable fiscal year ended March 30, 2024 ("fiscal 2024"). Comparable store sales for fiscal 2025 decreased by 3.4% compared to the corresponding period in fiscal 2024. The decrease in net sales and comparable store sales is mainly due to lower sales of branded jewelry due to the exit of a jewelry brand from two stores. When excluding the third-party jewelry brand movement, the comparable store sales increased by 6.9%, mainly driven by timepiece sales. The Company reported gross profit of $66.3 million, or 37.3% of net sales, compared to $73.6 million, or 39.7% of net sales in fiscal 2024, due to lower sales volume resulting from the exit of a jewelry brand from two stores. Gross profit as a percentage of sales for fiscal 2025 was 37.3%, a decrease of 240 basis points from the gross profit as a percentage of sales of 39.7% for fiscal 2024 as a result of the sales mix with decreased sales from third-party branded jewelry, as well as a foreign exchange loss. Mr. Jean-Christophe Bédos, President and Chief Executive Officer of Birks Group, commented: "Although our net sales and comparable store sales for fiscal 2025 are lower than fiscal 2024, when excluding the effect of third-party jewelry brand movement, comparable store sales are positive year-over-year, as a result of a strong retail performance and product offering particularly in our third-party branded timepieces. In fiscal 2025, we opened two new stores under the TimeVallée and Birks brands and continued to benefit from the fiscal 2024 renovations in our Chinook and Laval locations. These initiatives along with our recent announcement of the acquisition of the watch and jewelry business of European Boutique will continue to generate greater sales and contribute to improve our results." Mr. Bédos further commented: "I would like to thank our teams for their tireless efforts. The results achieved in fiscal 2025 are a testament to our commitment to our customers and I am grateful for the unwavering efforts of all our employees and the implementation of various initiatives during this past year to enhance our product offering and customer experience." Financial overview for the fiscal year ended March 29, 2025: Total net sales for fiscal 2025 were $177.8 million compared to $185.3 million in fiscal 2024, a decrease of $7.5 million, or 4.0%. The decrease in net sales in fiscal 2025 was primarily driven by the results of the Company's retail channel. Net retail sales in fiscal 2025 were $7.3 million lower than fiscal 2024, primarily due to the decrease in third-party branded jewelry sales, following the exit of a jewelry brand from two stores, partially offset by an increase in branded timepiece sales throughout the retail network; Comparable store sales decreased by 3.4% in fiscal 2025 compared to fiscal 2024 mainly due to lower third-party branded jewelry sales following the exit of a jewelry brand from two stores, partially offset by an increase in third-party branded timepiece sales and an increase in average sales transaction value. When excluding the third-party jewelry brand movement, the comparable store sales increased by 6.9%, mainly driven by timepiece sales; Total gross profit for fiscal 2025 was $66.3 million, or 37.3% of net sales, compared to $73.6 million, or 39.7% of net sales, in fiscal 2024. This decrease in gross profit was primarily due to the decreased sales volume experienced during fiscal 2025, due to third-party branded jewelry sales following the exit of a jewelry brand from two stores, and a foreign exchange loss due to the strengthening of the U.S. dollar, partially offset by the increased sales of third-party branded timepieces. The decrease of 240 basis points in gross margin percentage resulted primarily from the sales mix with decreased sales from third-party branded jewelry, as well as a foreign exchange loss, partially offset by an increase in branded timepiece sales; SG&A expenses in fiscal 2025 were $59.5 million, or 33.5% of net sales, compared to $65.7 million, or 35.5% of net sales, in fiscal 2024, a decrease of $6.2 million. The main drivers of the decrease in SG&A expenses in fiscal 2025 include lower occupancy costs ($2.7 million) mainly due to store closures and store lease modifications, lower marketing costs ($2.3 million) mainly due to lower brand development initiatives, lower compensation costs ($0.5 million) mainly due to lower sales volume and head count reductions, lower general operating costs ($0.4 million) and lower non-cash based compensation expense ($0.3 million) mainly due to fluctuations in the Company's stock price during the fiscal year. As a percentage of sales, SG&A expenses in fiscal 2025 decreased by 200 basis points as compared to fiscal 2024, reflecting the Company's focus on cost management and containment; The Company's adjusted EBITDA (1) for fiscal 2025 was $9.2 million, a decrease of $0.8 million, compared to adjusted EBITDA (1) of $10.0 million for fiscal 2024; The Company's reported operating loss for fiscal 2025 was $5.5 million, a decrease of $6.7 million, compared to a reported operating income of $1.2 million for fiscal 2024. The operating loss in fiscal 2025 includes an impairment of long-lived assets of $4.6 million related to the write-down of capitalized software costs associated with the delay in completing the implementation of the Company's ERP system; The Company's recognized interest and other financing costs were $9.7 million in fiscal 2025, an increase of $1.7 million, compared to recognized interest and other financing costs of $8.0 million in fiscal 2024. This increase is mainly due to an increase in the average amount outstanding on the amended credit facility, additional borrowings, and a foreign exchange loss of $1.0 million in fiscal 2025 versus a foreign exchange gain of $0.2 million in fiscal 2024 on our U.S. dollar denominated debt; The Company recognized a net loss for fiscal 2025 of $12.8 million, or $0.66 per share, compared to a net loss for fiscal 2024 of $4.6 million, or $0.24 per share. (1) This is a non-GAAP financial measure defined below under "Non-GAAP Measures" and accompanied by a reconciliation to the most directly comparable GAAP financial measure. About Birks Group Inc. Birks Group is a leading designer of fine jewelry and an operator of luxury jewelry, timepieces and gifts retail stores in Canada. The Company operates 17 stores under the Maison Birks brand in most major metropolitan markets in Canada, one retail location in Montreal under the Birks brand, one retail location in Montreal under the TimeVallée brand, one retail location in Calgary under the Brinkhaus brand, one retail location in Vancouver under the Graff brand, one retail location in Vancouver under the Patek Philippe brand, four retail locations in Laval, Ottawa and Toronto under the Breitling brand, four retail locations in Toronto under the European Boutique brand, one retail location in Toronto under the Omega brand and one retail location in Toronto under the Montblanc brand. Birks was founded in 1879 and has become Canada's premier designer and retailer of fine jewelry, timepieces and gifts. Additional information can be found on Birks' web site, NON-GAAP MEASURES The Company reports financial information in accordance with U.S. Generally Accepted Accounting Principles ("U.S. GAAP"). The Company's performance is monitored and evaluated using various sales and earnings measures that are adjusted to include or exclude amounts from the most directly comparable GAAP measure ("non-GAAP measures"). The Company presents such non-GAAP measures in reporting its financial results to assist in business decision-making and to provide key performance information to senior management. The Company believes that this additional information provided to investors and other external stakeholders will allow them to evaluate the Company's operating results using the same financial measures and metrics used by the Company in evaluating performance. The Company does not, nor does it suggest that investors and other external stakeholders should, consider non-GAAP measures in isolation from, or as a substitute for, financial information prepared in accordance with U.S. GAAP. These non-GAAP measures may not be comparable to similarly titled measures presented by other companies. In addition to our results determined in accordance with U.S. GAAP, we use non-GAAP measures including "EBITDA" and "Adjusted EBITDA". "EBITDA" is defined as net income (loss) before interest expense and other financing costs, income taxes expense (recovery) and depreciation and amortization. (in thousands) For the fiscal year ended March 29, 2025 March 30, 2024 Net income (loss) (GAAP measure) $ (12,819) $ (4,631) as a % of net sales -7.2 % -2.5 % Add the impact of: Interest expense and other financing costs 9,712 8,007 Depreciation and amortization 7,733 6,639 EBITDA (non-GAAP measure) $ 4,626 $ 10,015 as a % of net sales 2.6 % 5.4 % Add the impact of: Impairment of long-lived assets (a) 4,592 — Adjusted EBITDA (non-GAAP measure) $ 9,218 $ 10,015 as a % of net sales 5.2 % 5.4 % (a) Non-cash impairment of long-lived assets in fiscal 2025 related to certain software costs associated with the delay in completing the implementation of the Company's ERP system. Forward Looking Statements This press release contains forward- looking statements which can be identified, for example, by their use of words such as "plans," "expects," "believes," "will," "anticipates," "intends," "projects," "estimates," "could," "would," "may," "planned," "goal," and other words of similar meaning. All statements that address expectations, possibilities or projections about the future, including without limitation, statements about anticipated economic conditions, generation of shareholder value, and our strategies for growth, performance drivers, expansion plans, sources or adequacy of capital, expenditures and financial results are forward-looking statements. Because such statements include various risks and uncertainties, actual results might differ materially from those projected in the forward- looking statements and no assurance can be given that the Company will meet the results projected in the forward-looking statements. Accordingly, the reader should not place undue reliance on forward-looking statements. These risks and uncertainties include, but are not limited to the following: (i) a decline in consumer spending or deterioration in consumer financial position; (ii) economic, political and market conditions, including the economies of Canada and the U.S. and the influence of inflation on consumer spending, which could adversely affect the Company's business, operating results or financial condition, including its revenue and profitability, through the impact of changes in the real estate markets, changes in the equity markets and decreases in consumer confidence and the related changes in consumer spending patterns, the impact on store traffic, tourism and sales as well as the recently imposed tariffs (and retaliatory measures), possible changes therefrom and other trade restrictions; (iii) the impact of fluctuations in foreign exchange rates, increases in commodity prices and borrowing costs and their related impact on the Company's costs and expenses; (iv) the Company's ability to maintain and obtain sufficient sources of liquidity to fund its operations, to achieve planned sales, gross margin and net income, to keep costs low, to implement its business strategy, maintain relationships with its primary vendors, to source raw materials, to mitigate fluctuations in the availability and prices of the Company's merchandise, to compete with other jewelers, to succeed in its marketing initiatives (including with respect to Birks branded products), and to have a successful customer service program; (v) the Company's plan to evaluate the productivity of existing stores, close unproductive stores and open new stores in new prime retail locations, renovate existing stores and invest in its website and e-commerce platform; (vi) the Company's ability to execute its strategic vision; and (vii) the Company's ability to invest in and finance capital expenditures; (viii) the Company's ability to maintain its listing on the NYSE American exchange or to list its shares on another national securities exchange; and (ix) the Company's ability to continue as a going concern. Information concerning the above and other risk factors that could cause actual results to differ materially is set forth under the captions "Risk Factors" and "Operating and Financial Review and Prospects" and elsewhere in the Company's Annual Report on Form 20-F filed with the Securities and Exchange Commission on July 25, 2025 and subsequent filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law. F iscal Year Ended March 29, 2025 March 30, 2024 Net sales $ 177,807 $ 185,275 Cost of sales 111,499 111,720 Gross profit 66,308 73,555 Selling, general and administrative expenses 59,518 65,705 Depreciation and amortization 7,733 6,639 Impairment of long-lived assets 4,592 — Total operating expenses 71,843 72,344 Operating income (loss) (5,535) 1,211 Interest and other financial costs 9,712 8,007 Income (loss) before taxes and equity in earnings of joint venture (15,247) (6,796) Income taxes (benefits) — — Equity in earnings of joint venture, net of taxes of $0.9 million ($0.8 million in fiscal 2024) 2,428 2,165 Net (loss) income, net of tax $ (12,819) $ (4,631) Weighted average common shares outstanding: Basic 19,357 19,058 Diluted 19,357 19,058 Net (loss) income per common share: Basic $ (0.66) $ (0.24) Diluted (0.66) (0.24) As of March 29, 2025 March 30, 2024 Assets Current Assets Cash and cash equivalents $ 1,509 $ 1,783 Accounts receivable and other receivables 6,608 8,455 Inventories 116,277 99,067 Prepaids and other current assets 2,072 2,913 Total current assets 126,466 112,218 Long-term receivables 1,084 1,571 Equity investment in joint venture 5,169 4,122 Property and equipment 25,380 25,717 Operating lease right-of-use asset 34,964 51,753 Intangible assets and other assets 3,017 7,887 Total non-current assets 69,614 91,050 Total assets $ 196,080 $ 203,268 Liabilities and Stockholders' Equity (Deficiency) Current liabilities Bank indebtedness $ 73,630 $ 63,372 Accounts payable 58,114 43,011 Accrued liabilities 6,053 6,112 Current portion of long-term debt 4,860 4,352 Current portion of operating lease liabilities 6,929 6,430 Total current liabilities 149,586 123,277 Long-term debt 21,374 22,587 Long-term portion of operating lease liabilities 38,629 59,881 Other long-term liabilities 4,502 2,672 Total long-term liabilities 64,505 85,140 Stockholders' equity (deficiency): Class A common stock – no par value, unlimited shares authorized, issued and outstanding 11,876,717 (11,447,999 as of March 30, 2024) 42,854 40,725 Class B common stock – no par value, unlimited shares authorized, issued and outstanding 7,717,970 57,755 57,755 Preferred stock – no par value, unlimited shares authorized, none issued — — Additional paid-in capital 19,719 21,825 Accumulated deficit (138,295) (125,476) Accumulated other comprehensive income (loss) (44) 22 Total stockholders' equity (deficiency) (18,011) (5,149) Total liabilities and stockholders' equity (deficiency) $ 196,080 $ 203,268 Company Contact: Katia Fontana Vice President and Chief Financial Officer (514) 397-2592 For all press and media inquiries, please contact: [email protected] SOURCE Birks Group Inc.
