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Finance · Automotive
New York, New York--(Newsfile Corp. - August 28, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Avis Budget Group, Inc. ("Avis" or the "Company") (NASDAQ: CAR) on behalf of investors that purchased or otherwise acquired Avis securities between February 20, 2025 and April 21, 2026 (the "Class Period").CLICK HERE TO JOIN THE CASEIf you are an investor in Avis and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan...
Aug 28 · 13:40·mlpr-newsfile
SaaS · Automotive
SUWANEE, Ga., Aug. 28, 2026 /PRNewswire/ -- YFORE Technology officially rolled off its first U.S.-manufactured Digital Key today at its facility in Suwanee, Georgia, marking the start of localized mass production for North America. Utilizing an integrated "Vehicle-Cloud-Device" end-to-end...
Aug 28 · 13:15·PR Newswire
Automotive
MONTRÉAL, Aug. 28, 2026 (GLOBE NEWSWIRE) -- Air Canada today announced a new mobility aid travel policy designed to make travel simpler, more consistent and less stressful for customers who travel with mobility aids, including customers participating in adapted sports.
Aug 28 · 13:00·GlobeNewswire
Automotive
LOS ANGELES, Aug. 28, 2026 /PRNewswire/ -- Lasfit has rolled out brand-new LED ditch lights tailored for Ford F-150 off-road and outdoor adventures, further enriching its dedicated product ecosystem for the iconic pickup truck. This new launch adds a professional outdoor lighting option...
Aug 28 · 11:00·PR Newswire
Finance · AI
HONG KONG, August 28, 2026 - (ACN Newswire) - Legend Holdings Corporation (“Legend Holdings” or the “Company”; Stock Code: 3396.HK) announced the unaudited condensed consolidated interim results for the six months ended June 30, 2026 (the “Reporting Period”). During the Reporting Period, the Company recorded revenue of RMB362.935 billion, representing a 29% year-on-year increase, primarily driven by the significant revenue growth of its subsidiaries Lenovo and Levima Advanced Materials; net profit attributable to equity holders of the Company was RMB2.230 billion, up 219% year-on-year, driven by the recovery in portfolio value of the industrial incubations and investments segment. Excluding the impact of a one-off item, net profit attributable to equity holders of Legend Holdings was RMB5.812 billion, a year-on-year increase of 834%.
In the first half of 2026, Legend Holdings remained committed to technological innovation as the key driver for high-quality development and continued to enhance its distinctive technological innovation system. The Company actively drove the coordinated advancement of “anchoring diversified-industries operations in technology-focused core businesses, extending ecosystem coverage through technology innovation funds, and driving the very early-stage industrialization of forward-looking technologies.” This expedited the transformation from scientific and technological achievements into real productive forces, and drove a steady improvement in the Company's core competitiveness, with significant performance growth, laying a solid foundation for the Company’s sustainable development.
RMB 10 Billion in R&D Investment, Together with a Solidified Technology Foundation
During the Reporting Period, Legend Holdings’ total R&D investment exceeded RMB10 billion, a historical record high for its midyear report. Its portfolio companies continued to deliver steady growth with solid fundamentals. Lenovo capitalized on the surge in hybrid AI, with all three major business segments delivering double-digit revenue growth and reaching record highs for the same period. AI has become Lenovo’s core growth engine, with AI-related revenue increasing by 64% for the same period and accounted for 36% of Lenovo’s total revenue. Levima Advanced Materials posted significant performance growth and made breakthroughs in a number of major projects. Among them, the m-Xylylene Diisocyanate (XDI) project was listed under the National Key R&D Program. Built on Levima’s technical expertise and R&D experience, the PEEK project has entered the construction phase. Both projects are expected to be completed and put into operation in 2027, filling domestic technology gaps.
Technology Ecosystem Bearing Fruit, and 12 Portfolio Companies Successfully Listed
Leveraging years of dedicated efforts in technology innovation, Legend Holdings has cultivated a robust ecosystem spanning emerging and future industries. This ecosystem is now delivering tangible returns, not only driving significant performance growth for the Company, but also accumulating momentum for long-term development. During the Reporting Period, the industrial incubations and investments segment’s depth of technology asset pipeline and ability to realize value from these assets both improved. In the first half of 2026, the Legend Holdings Family Group supported the listing of 12 portfolio companies. These listed companies spanned sectors including artificial intelligence, semiconductors, advanced manufacturing, and healthcare. More than 30 additional portfolio companies are currently in the pre-listing pipeline. The Company invested in over 80 technology projects in the first half of the year across frontier fields such as artificial intelligence, quantum computing, optical interconnects, embodied artificial intelligence, chips and semiconductors, biopharmaceuticals, and commercial aerospace. To date, Legend Holdings has invested in over 300 AI-related companies. The Company has also established a systematic presence in other frontier fields, having invested in over 110 companies in pharmaceuticals and healthcare, over 60 companies in sustainable industries and future energy, and more than 50 companies in embodied artificial intelligence.
Fostering Industry-Academia-Research Collaborative Innovation and Exploring New Pathways for Commercializing Original Technologies
Responding to the call to “accelerate the translation from technological advances into productive forces”, Legend Holdings leverages its Forward-Looking Technology Research Institute to actively promote industry-academia-research collaborative innovation and explore new pathways for the commercialization of pioneering technologies. In the first half of the year, Legend Holdings established the Advanced Photonic Integration Joint Laboratory with a National Key Laboratory at Peking University. Together with the research team, the Company published co-authored papers and filed joint patents, while making preparations to establish a dedicated operating entity. In addition, led by the Chinese Information Processing Society of China (CIPS), and jointly initiated by Legend Holdings and other organizations, the Industry University Research Working Committee of the Chinese Information Processing Society of China was established, focusing on frontier areas of artificial intelligence. The Committee translates real-world industry needs into concrete workstreams. The Company has built a “Covalent Innovation” model that brings real-world industry needs into the earliest stages of R&D, enabling businesses and researchers to jointly set priorities and develop solutions. It aims to create a replicable pathway for translating more creative innovation into new quality productive forces.
ESG Practices Gaining Authoritative Recognition, Corporate Responsibility Underpinning the Foundation for Sustainability
Legend Holdings prioritizes ecological conservation and green development. Lenovo has repeatedly received authoritative recognition both domestically and internationally in the ESG field. It has retained the highest global 3A rating in the MSCI ESG Ratings and received the EcoVadis Platinum Medal, its highest distinction, for two consecutive years. It was also included in the Fortune China ESG Impact List for five consecutive years. Its green operations continued to deliver strong results: over 90% of the electricity used in Lenovo’s global operations came from renewable energy sources. More than 360 million kilograms of end-of-life products have been recovered and reused. In photovoltaic materials, Levima Advanced Materials operates two major product lines for photovoltaic adhesive film materials, EVA and POE, with an annual production capacity exceeding 350,000 tons. In new energy battery materials, the company has built a comprehensive portfolio. In green investment, Legend Holdings has invested in more than 60 companies across new energy, energy decarbonization and so on. The Legend Star CEO Training Program has been running for over 18 years, nurturing up to 1,429 startup founders with 77 listed companies, 217 national-level specialized and innovative “Little Giant” enterprises, 930 High-and New-Technology Enterprises (HNTE), and more than 460,000 jobs created.
Looking ahead, Legend Holdings will continue to closely align with national strategic needs, adhere to the main thread of technological innovation driving high-quality development, steadily improve its distinctive technological innovation system, deepen its focus on technology as its core business, and accelerate the promotion of the transformation of scientific achievements into real productive forces, making unremitting contributions to Chinese modernization and self-reliance and strength in science and technology.
Copyright 2026 ACN Newswire. All rights reserved. www.acnnewswire.com
Aug 28 · 10:54·mlpr-acnnewswire
Automotive
SUWANEE, Ga., Aug. 28, 2026 /PRNewswire/ -- YFORE Technology, a leading global Tier-1 automotive electronics supplier, officially commissioned its new U.S. manufacturing facility near Atlanta, Georgia today. Marking the milestone, YFORE debuted its full digital mirror lineup across North...
Aug 28 · 10:47·PR Newswire
Automotive · Media
A complete and credible incident record — synchronized video and measured vehicle physics, from well before the impact to well after — delivered within minutes, documenting the chain of events for carriers and the drivers they insure.
Aug 28 · 09:10·PressReleaseNews
Finance · SaaS
HONG KONG, August 28, 2026 - (ACN Newswire) - On the evening of 27 August, Fosun International announced its 2026 interim results. During the Reporting Period, its total revenue reached RMB86.96 billion; profit attributable to owners of the parent reached RMB1.72 billion, representing a year-on-year increase of 160.3%; overseas revenue reached RMB49.16 billion, with its share of total revenue rising to 56.5%; total debt to total capital ratio decreased to 55.7%.
These figures show that Fosun’s results fall in the upper-middle range of the Company’s profit alert (profit attributable to owners of the parent is expected to range from approximately RMB1.5 billion to RMB1.8 billion, representing a year-on-year increase of approximately 127% to 172%) issued on 29 July. This marks Fosun’s return to a growth trajectory following the completion of a systematic realignment of “repairing the roof on a sunny day”.
Over the past few years, Fosun has taken a rather unconventional path. Since 2022, in response to the severe market disruption caused by the pandemic, the Company has advanced its business streamlining and core business-focused strategy, divesting assets and businesses and generating cumulative cash proceeds of approximately RMB75 billion. In March 2026, pursuant to the principle of prudence, Fosun made one-off, non-cash impairment provisions and value revaluations on certain real estate projects with impairment indicators and goodwill and intangible assets of certain non-core business segments. The move drew considerable market attention at the time. At the Company’s 2025 annual results presentation at the end of March, Guo Guangchang, Chairman of Fosun International, explained, “This is about ‘repairing the roof on a sunny day’, allowing Fosun to focus its resources and efforts more effectively on core, high-growth areas.”
The market has now responded to Fosun’s “repairing the roof on a sunny day” initiative. From the announcement of profit alert in early March to 25 August, before its interim results announcement, Fosun’s share price rose sharply from HKD3.6 to HKD5.41, representing an increase of more than 50%. The market has gradually recognized and priced in the Group’s “risk clearance” efforts.
More importantly, the earnings growth driven by the Group’s businesses has begun to materialize. At the 2026 interim results presentation held in Hong Kong on 28 August, Guo Guangchang said: “The strong results recovery we delivered in the first half of the year reflects the outcome of the strategic adjustments we have made over the past few years. Our ‘repairing the roof on a sunny day’ strategy has paid off, allowing us to put historical burdens behind us. These results mark the beginning of Fosun’s continued progress along a trajectory of steady growth.”
Solid Core Businesses, with Pharmaceuticals and Insurance Posting Strong Results
First, let us look at Fosun’s core businesses. In the first half of 2026, its four core businesses — Fosun Pharma, Yuyuan, Fosun Insurance Portugal (Fidelidade), and the Tourism segment — generated a total revenue of RMB63.88 billion, accounting for 73.5% of the Group’s total revenue, further demonstrating the results of its core business-focused strategy.
Among them, the pharmaceutical and insurance segments delivered particularly strong performance.
In the first half of the year, Fosun Pharma achieved operating revenue of RMB20.377 billion. Revenue from innovative drugs recorded a year-on-year increase of 13.84%, with their contribution to pharmaceutical business revenue rising to 33.35%, establishing innovative drugs as a key growth driver. Its innovative biopharmaceutical platform, Henlius, reported revenue of RMB3.5882 billion, representing a year-on-year increase of 27.3%, while net profit amounted to RMB430.4 million, up 10.3% year-on-year, sustaining growth momentum in revenue and profit. Commercialization of innovative drugs continued to gain traction. During the Reporting Period, Fosun Pharma had a total of 20 indications of 7 innovative drugs approved for launch both domestically and overseas. With their revenue share on a steady rise, innovative drugs have become the main growth engine driving the pharmaceutical business forward.
The insurance segment delivered a stellar performance, with Fosun’s domestic and overseas insurance companies all posting broad-based improvements. Fidelidade’s overall market share in Portugal reached 30.1%, and its international business accounted for 26.7% of its consolidated total business. In the first half of the year, Fidelidade recorded net profit attributable to owners of the parent of EUR165 million, up 23.8% year-on-year, maintaining steady growth.
In Chinese mainland, Pramerica Fosun Life Insurance recorded gross written premiums of RMB8.38 billion in the first half of 2026, up 52.2% year-on-year. Net profit reached RMB780 million, representing a year-on-year increase of 270% and exceeding its net profit for the full year of 2025. Fosun United Health Insurance reported a 36.2% year-on-year increase in revenue and net profit of RMB572 million. Peak Reinsurance’s reinsurance revenue and gross written premiums increased by 25% and 11.8% year-on- year, respectively, while net profit after tax reached USD89.70 million. In April 2026, Moody’s upgraded Peak Re’s rating from Baa1 to A3, with a “stable” outlook.
Guo Guangchang said at the results presentation: “Integrating our insurance business with industries in which we have established competitive advantages has been a strategic priority for Fosun for over three decades — a critical linkage we have long sought to unlock. I believe we have now achieved it. This integration will significantly strengthen our industrial operational capabilities and future profitability, providing sustained momentum for Fosun’s development.”
“Successfully navigating another cycle” is how the market has described Fosun’s latest round of adjustments. A closer look reveals how Fosun has successfully navigated the cycle. On the one hand, the Group has continued to streamline its business to generate cash proceeds. In the first half of the year, the Group generated proceeds equivalent to more than RMB12.0 billion from the divestment of non-strategic and non-core assets. Its total debt to total capital ratio was reduced to 55.7%, while its cash, bank balances and term deposits amounted to RMB61.214 billion. On the other hand, the innovation and globalization strategy that the Group has been pursuing for years has entered a value-realization phase, serving as the core engine driving profit recovery.
Integrated Innovation Strategy Bears Fruit
Since innovative drugs took off in the domestic market in 2025, Fosun has repeatedly broken into the spotlight, with multiple innovative drug business development (BD) drawing significant market attention. In fact, as the saying goes, “One minute on stage takes ten years of hard work off stage”. This series of innovation achievements is the result of Fosun’s forward-looking innovation strategy established nearly two decades ago.
Notably, for more than a decade, Fosun has built a globally integrated innovation system across its core business areas, combining “independent R&D + investment incubation + ecosystem collaboration”, and has consistently made substantial investments in technology innovation. In the first half of this year alone, investment in technology innovation reached RMB4.2 billion, representing a year-on-year increase of 16.7%.
In the first half of this year, Fosun saw a series of innovations come to fruition. HANSIZHUANG, independently developed by Henlius, received approval from the National Medical Products Administration (NMPA) for its perioperative indication in gastric cancer, pioneering a postoperative “chemo-sparing” regimen and making it the world’s first and only anti-PD-1 monoclonal antibody approved for this indication. Its core pipeline asset, HLX43, as a potential best-in-class (BIC) broad-spectrum anti-tumor PD-L1 ADC, has demonstrated preliminary clinical efficacy characterized by high efficacy and low toxicity across multiple solid tumors, including non-small cell lung cancer (NSCLC), with over 1,500 patients enrolled globally. To date, Henlius has 10 products approved in over 60 countries and regions, and has benefited over 1.1 million patients.
In addition, FUMAINING (luvoxmetinib tablets), independently developed by Fosun Pharma, was approved for the treatment of paediatric and adolescent patients with relapsed or refractory Langerhans cell histiocytosis (LCH), continuing to fill the gap in the treatment of rare diseases. In terms of neurodegenerative diseases, Fosun Pharma expanded its global collaboration with AriBio on AR1001, extending its rights to develop and commercialize the product to key markets including the U.S., Europe and Japan. Meanwhile, post-marketing confirmatory clinical trials for sodium oligomannate capsules have progressed steadily, with more than 1,000 patients enrolled as of 31 July 2026. In addition, HT001, an oral NLRP3 inhibitor for the treatment of Parkinson’s disease in-licensed by Hengtai Bio, an investee and incubated company of Fosun Pharma, commenced its Phase I clinical trial in Australia.
Fosun’s innovation achievements demonstrate the forward-looking nature of its innovation strategy and its ability to identify the right opportunities in R&D. As Guo Guangchang remarked at the results presentation, through years of effort, Fosun has built globally integrated innovation capabilities rooted in China. This distinctive strength of Fosun is expected to create greater value for all in the years ahead.
“Fosun has never pursued innovation behind closed doors. Instead, we leverage our resource-integration capabilities and a global perspective to drive smart innovation, bringing together the best technologies, teams and supply chains from around the world to solve real problems. This is how we unlock vast market potential,” said Guo Guangchang.
Unlocking Value through Global Operations
Globalization has been another forward-looking strategic move for Fosun. Since its listing in Hong Kong in 2007, when many Chinese companies were still focused primarily on their domestic markets, Fosun had already begun expanding overseas ahead of its peers.
Nearly two decades later, as a growing number of Chinese companies embrace the view that they must go global or risk being left behind, and seek to capture overseas markets by taking their products overseas, Fosun has already established a profound business presence in more than 40 countries and regions. With local teams operating overseas, it has successfully operated a number of companies within the Fosun ecosystem. “Global operations” have become a defining feature of Fosun’s globalization strategy and a core engine underpinning the development of its businesses.
Guo Guangchang said at the interim results presentation that Fosun continues to strengthen its global operational capabilities. On the one hand, it is helping Chinese products and services enter overseas markets. On the other hand, it is introducing high-quality products and services from around the world into China. Drawing on the global resource-mobilization capabilities it has built over the years, Fosun is able to identify high-quality projects and technologies worldwide and rapidly mobilize the resources needed to advance them.
In the first half of 2026, Fosun’s overseas revenue reached RMB49.16 billion, accounting for 56.5% of total revenue, up 3 percentage points as compared to the same period of 2025 and marking a record high in the proportion of overseas revenue.
In the field of pharmaceuticals and healthcare, Fosun made substantial progress in the global expansion of innovative drugs and commercial business development. Henlius’ HANSIZHUANG was approved for three new indications in the European Union (EU), while HLX11 (pertuzumab injection) was approved in the EU and HLX14 (denosumab injection) was approved in Canada. At the beginning of 2026, Fosun Pharma entered into a strategic partnership with Eisai for HANSIZHUANG, with an aggregate potential consideration exceeding USD300 million, underscoring how the global value of Chinese innovative drugs is being repriced by international markets.
In the first half of the year, Yuyuan generated revenue of RMB532 million in Hong Kong SAR and Macau SAR in the first half of 2026, representing a year-on-year increase of 285.83%, while revenue from the Japanese market reached RMB306 million, representing a year-on-year increase of 6.09%. Laomiao has 15 stores in Hong Kong SAR, Macau SAR, overseas markets and duty-free channels. Club Med has also continued to expand its global footprint, with Club Med Urban Oasis Hangzhou Longwu already open and Club Med South Africa Beach & Safari now in soft opening.
Leveraging Fosun’s global ecosystem, Fidelidade in the insurance segment has expanded its business from Portugal to Portuguese-speaking countries and markets across Europe, Latin America, and Africa. Its international business now accounts for 26.7% of its consolidated total business, with continued growth in Portuguese-speaking countries. Meanwhile, Peak Reinsurance has maintained steady growth thanks to its global business footprint.
The guiding principle behind Fosun’s globalization strategy is “Combining Global Resources with China’s Capabilities”, deeply integrating China’s manufacturing capabilities, service capabilities, and innovation dividends, with global markets. Starting with leveraging China’s growth momentum to establish its business presence, and progressing to a two-way engagement of “mutual empowerment between China and the world”, Fosun has now entered the 3.0 phase of “global organization + local operations”. In this phase, Fosun “truly operates with a global perspective”, having developed the ability to foster cross-regional, cross-cultural, and cross-organizational synergies within its business ecosystem and support the continued growth of its overseas revenue.
At the interim results presentation held on 28 August, Guo Guangchang said: “Fosun’s future development goal is to ‘spur the horse to full speed’. We have already positioned ourselves on a trajectory of steady growth. Going forward, we will continue to advance innovation-driven and global development in industries where we have established competitive advantages, building on our momentum and accelerating further.”
Copyright 2026 ACN Newswire. All rights reserved. www.acnnewswire.com
Aug 28 · 08:22·mlpr-acnnewswire
Automotive
MotorCities National Heritage Area has awarded $14,832 in 2026 Mini-Grants to 10 Michigan organizations for projects that preserve, interpret and promote the state’s automotive and labor heritage. [PR.com]
Aug 28 · 08:00·PR.com
Automotive
The global automotive repair and maintenance market is expanding steadily as vehicles remain in service for longer periods, global vehicle ownership increases, and modern automobiles become increasingly [read full press release...]
Aug 28 · 07:11·Express Press Release
AI · Automotive
Vancouver, British Columbia--(Newsfile Corp. - August 28, 2026) - Planet Ventures Inc. (CSE: PXI) (OTC Pink: PNXPF) (FSE: P6U) ("Planet" or the "Company") is pleased to announce that it has completed a USD$100,000 indirect investment in Starcloud, Inc. ("Starcloud"), a U.S.-based technology company which created the category of orbital data centers (ODC) designed to deliver artificial intelligence ("AI") computing infrastructure in space, through an equity investment in a Special Purpose Vehicle...
Aug 28 · 07:05·mlpr-newsfile
Automotive · Education
MotorCities awarded $111,500 in Partnership Challenge Grants that supports seven larger projects involving automotive design, historic preservation, accessibility, heritage tourism, youth education, environmental recreation, and architectural study. [PR.com]
Aug 28 · 07:00·PR.com