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October 24, 2026

Rooted in the River, Renewed with the Times: Insights from the 2026 Chishui River Forum

On October 16–18, the 2026 Chishui River Forum, jointly initiated by the Brand Work Office of Xinhua News Agency, China Economic Information Service, and China Moutai, was held in Maotai Town, Guizhou Province. The Forum brought together representatives of international liquor companies and organizations to draw on Eastern wisdom in terroir-based brewing and explore new pathways for industrial development that promote harmony between humanity and nature and foster mutual flourishing. The 2026 Chishui River Forum Harmonizing Heaven and Earth: The River Valley's Terroir Anchors the Roots of Brewing Civilization Ao Hong, Secretary of the Party Leadership Group and Director-General of the Guizhou Provincial Department of Industry and Information Technology, said in his opening remarks that “Moutai cannot be produced anywhere else but Maotai Town.” The natural endowments of the Chishui River Valley provide the essential foundation for the sauce-aroma baijiu industry. Guizhou is both the birthplace and principal production region of sauce-aroma baijiu, as well as a key hub and main front for developing industrial clusters rooted in historical traditions. Chen Hua, Chairman of China Moutai Group, noted that the evolution of the world's renowned liquor brands is not only a history of production regions, but also a cultural history of craftsmanship passed down through generations in distinctive local environments. Production regions are the ecological foundation, the source of quality and the cultural roots of the liquor industry. Protecting regional ecosystems and preserving brewing traditions are shared responsibilities of liquor producers worldwide. Cultural heritage provides the spiritual foundation for the liquor industry to achieve steady, long-term development. Li Xiaojie, former Vice Minister of Culture and former Director of the National Cultural Heritage Administration, called for bringing intangible cultural heritage brewing techniques to life, exploring the deeper significance of liquor-related cultural heritage, and fostering a vibrant ecosystem of local customs and cultural traditions. These efforts, he said, would enable cultural heritage to support the industry's sustainable development through living transmission. From traces of ancient alcoholic beverages at the Jiahu archaeological site to historic baijiu workshops and preserved fermentation pits across China, the country's brewing traditions span thousands of years. They offer a rich heritage awaiting innovative transformation and more dynamic forms of transmission. Advancing with the Times: Building Industry-Wide Consensus amid Market Adjustments China's baijiu industry is currently undergoing a profound adjustment. Evolving consumer demand, inventory restructuring and changes in distribution channels have become shared challenges across the sector. The World Famous Liquor Brands Sustainability Index Report (2026) , released during the Forum, establishes an evaluation framework based on three dimensions: Quality, Momentum and Visibility. Six brands, including Moutai, were classified as “Leading” brands in the assessment. During the Forum, the Chishui River Valley: China's Sauce-Aroma Baijiu Regional Brand Think Tank was officially launched. The Moutai Strategic Research Institute will collaborate with China Economic Information Service on research into the global liquor industry. The China Brands Go Global initiative and the Global Liquor Industry Sustainable Development Partnership Program were also launched. Moutai invited 16 domestic and international liquor companies to build consensus around six priorities: cultural heritage, green development, technological innovation, corporate responsibility, intergenerational vitality and global collaboration. The initiative aims to foster a global community with a shared future for the liquor industry. As Chen Hua put it, “We must turn consensus into mechanisms, initiatives into projects, and visions into practice.” Breaking New Ground through Multiple Perspectives: Three Parallel Forums Address the Industry's Defining Challenges Alongside the main forum, three parallel forums examined how the traditional liquor industry can navigate the future from three perspectives: the mutual enrichment of civilizations, digital and intelligent manufacturing, and consumption trends among younger generations. The parallel forum “The Language of the World, the Taste of China” focused on cultural confidence and global dialogue, exploring how Chinese liquor culture can communicate with the world while drawing on its distinctive heritage. “Digital Aroma Discovery, Intelligent Brewing for the Future” examined how digital technologies are reshaping brewing processes and transforming the underlying logic of production. “A World in Every Glass, New Voices from Drinkers” moved outdoors to a lawn setting, directly addressing the challenges and opportunities presented by generational change in consumer preferences. “Harmonizing Heaven and Earth” represents the commitment to respecting the land, water and rhythms of nature while preserving the industry's roots. “Advancing with the Times” embodies the courage to embrace change and pursue innovation. Starting from the Chishui River Valley, the 2026 Chishui River Forum is establishing a new point of connection for the global liquor industry, where tradition meets modernity and Eastern and Western perspectives engage in dialogue. Through industrial insights and practical solutions rooted in China's experience, the Forum aims to contribute to the high-quality development of the global liquor industry.

October 24, 2026

Business

World Famous Liquor Brands Sustainability Index Report (2026) Released

The World Famous Liquor Brands Sustainability Index Report (2026) (hereinafter referred to as the “Report”), compiled by the Xinhua Index Research Institute, was officially released at the 2026 Chishui River Forum on October 17. The Report finds that the 30 representative liquor and wine brands worldwide demonstrate a development profile characterized by “solid foundations in quality and brand visibility, alongside divergent business momentum.” Quality and visibility are relatively strong across the index, while momentum still has considerable room for improvement. In particular, differences in business resilience are a key factor distinguishing the overall development performance of leading liquor and wine brands. Pictured: Cao Zhanzhong, Executive Director of Xinhua Index Research Institute, interprets the report findings. Quality and Visibility Jointly Underpin the Strong Performance of Leading Brands Based on the index results, the Report classifies the 30 representative liquor and wine brands worldwide into four tiers: Leading, Resonating, Established and Emerging. Brands in the Leading tier account for 20% of the total sample. The study finds that these brands generally combine substantial long-term asset accumulation with strong market influence. Their leadership is not attributable to any single competitive advantage, but rather to years of accumulated strengths in regional ecosystems, product identity, and brewing traditions and culture, together with effective synergies between brand visibility and market recognition. Distilled Spirits and Fermented Beverages Converge in Overall Development, While Internationalization Shifts from Broad Reach to Deeper Market Engagement In assessing quality, the Report focuses on product quality and heritage, ecological resources, and international expansion. For momentum and visibility, it examines business momentum and brand influence, respectively. It also provides an in-depth assessment of the sustainability capabilities of distilled spirits, fermented beverages and blended alcoholic beverages. The findings show that distilled spirits and fermented beverages are broadly converging in their overall level of development, although their underlying strengths differ markedly. Distilled spirits perform particularly well in quality-related indicators, including recognition of legally protected production-area designations and the preservation of traditional brewing techniques through continued practice. They build competitive “moats” by drawing deeply on terroir, history and traditional craftsmanship. Fermented beverages, meanwhile, have an edge in developing global operating systems and stand out for their ability to translate international market presence into tangible results. Strengthening Foundations in Quality and Culture: China's Baijiu Industry Must Turn Accumulated Strengths into Tangible Results The Report maps the overall capabilities of 30 representative liquor and wine brands worldwide. Data from the 20 indicators of the World Famous Liquor Brands Sustainability Index show that the global liquor and wine industry has reached a relatively mature stage in areas such as brand market positioning, the resilience of core production assets, waste recovery and resource utilization, and professional quality certification. However, strengthening business growth momentum, improving conversion in international markets, and ensuring the continued practice and transmission of intangible cultural heritage remain common challenges for the industry. For China's baijiu sector in particular, the next step is to build on its accumulated strengths in quality and cultural heritage and translate them into tangible development outcomes.

October 24, 2026

Business

Global Expertise Converges as 2026 Chishui River Forum Opens

The 2026 Chishui River Forum was held from October 16 to 18 in Maotai Town, Guizhou Province. Jointly initiated by the Brand Work Office of Xinhua News Agency, China Economic Information Service, and China Moutai, the forum brought together industry professionals from around the world to explore the future of the global liquor industry and chart a new course for its high-quality development. https://youtu.be/12AlVf7_ySU Under this theme, the main forum focused on broad industry issues, including high-quality development of the global liquor industry, industrial collaboration and international expansion. Three parallel forums explored their respective themes: “The Language of the World, the Taste of China,” “Digital Aroma Discovery, Intelligent Brewing for the Future,” and “A World in Every Glass, New Voices from Drinkers.” Discussions examined the relationship between liquor culture and civilization through cultural confidence and global dialogue; new approaches to brewing and evolving consumption in the digital age; and the encounter between baijiu and younger generations. From international communication and digital empowerment to engaging younger consumers, the forum sought to offer the global liquor industry a multidimensional framework for reflection and development. Returning a year after its previous edition, the 2026 Chishui River Forum has been positioned as an upgraded, higher-level iteration of the event. This transformation goes beyond enhancements to the agenda, lineup of speakers and event formats. It also reflects the forum's evolution from a single event into a global platform with sustained influence on the liquor industry. The three-day forum featured one main forum and three parallel forums. On the opening day, the Global Liquor Industry Sustainable Development Partnership Program was officially launched, the Chishui River Valley: China's Sauce-Aroma Baijiu Regional Brand Think Tank was established, and the World Famous Liquor Brands Sustainability Index Report (2026) was released.

October 24, 2026

Business

Global Wine and Spirits Industry Leaders Gather at 2026 Chishui River Forum to Explore Value Reconfiguration Amid Structural Change

At the 2026 Chishui River Forum on Oct. 17, jointly initiated by the Brand Work Office of Xinhua News Agency, China Economic Information Service (CEIS) and China Moutai, representatives of the global wine and spirits industry, alongside experts and scholars from China, Peru, France, Italy and other countries, gathered to discuss “Value Reconfiguration and Order Restructuring in the Global Wine and Spirits Industry in an Era of Structural Change,” seeking common ground on the industry's future through dialogue and exchange. Johnny Schuler, president of the Peruvian Pisco Academy and co-founder and master distiller of Pisco Portón, said Pisco has a tradition spanning more than 400 years, with tradition forming the essence of the product and quality remaining its most important attribute. He also noted that alcohol consumption has been declining gradually in some markets, requiring considerable effort and the development of new concepts to sustain product quality and appeal. Olivier Bouché, president of the French National Association of Wine and Spirits Experts, stressed that natural endowments provide a foundation for the industry but should never become a reason for stagnation. Products must continue to innovate and evolve, he said. Drawing on his experience in international markets, Bouché noted that wine consumption trends vary from one market to another, underscoring the need for wine and spirits producers to continually develop new concepts and adapt to changing consumer preferences. Discussing exchanges between Chinese and international cultures, Schuler noted that people of Chinese descent account for around 15 percent of Peru's population and that Chinese cuisine has had a significant influence on Peruvian food culture. “This is my second visit to Moutai. I drink Moutai, and I like Moutai,” he said. Bouché, meanwhile, shared his perspectives on food and wine pairing, arguing that cross-cultural exchanges in drinking traditions ultimately need to be reflected in real-life consumption settings and everyday experiences. As consumer demographics shift and consumption habits evolve, how the industry can respond to emerging market demands became a central topic of discussion. Wang Junlin, chairman of Sichuan Langjiu Group, said distilleries must remain true to their original purpose. The value of liquor, he argued, lies in its taste and the enjoyment it brings after drinking. While younger consumers may approach baijiu, China's traditional distilled spirit, differently from previous generations, human nature itself remains unchanged. The key is for businesses to understand the lifestyles of different generations and find new ways to connect with younger consumers. Wang said Langjiu has sought to incorporate lifestyle experiences popular with younger people into its Langjiu Manor, creating new ways for them to engage with the brand and its products. Jia Yunfeng, an expert with UN Tourism, introduced the concept of “emotional value,” arguing that the challenge is not to win over young people, but to understand them. “Winning over young people is a false proposition. Young people have always been there; it is we who have failed to understand them,” he said. Citing a French winery that produces wines associated with weddings and divorces, Jia argued that the emotional value of wine far exceeds its cultural, social and financial value. “The future breakthrough for the wine and spirits industry will certainly not lie in the beverage itself. The core cultural element of wine tourism integration is content, while tourism provides the setting,” he said. Emanuele Zolino, mayor of Aquileia, Italy, also shared his perspectives on the industry from the standpoint of cities and everyday life. The 2026 Chishui River Forum, themed “Interweaving Harmony Advancing with the Times,” was jointly initiated by the Brand Work Office of Xinhua News Agency, China Economic Information Service and China Moutai.

October 24, 2026

Event Announcement

140th Canton Fair draws record overseas buyer turnout

The first phase of the 140th China Import and Export Fair (Canton Fair) concluded in Guangzhou on October 19th. Amid rising unilateralism and protectionism, and frequent rhetoric of deglobalization, a set of figures provided the most solid response: during the first phase of the 140th Canton Fair (October 15th to 19th), 189,000 overseas buyers from 214 countries and regions attended the event, an increase of 13.3% over the same phase of the previous edition, hitting a record high for the same period. At the same time, buyers no longer ask only about “unit prices.” From “selling products” to “selling solutions,” and from “shipping fully assembled products” to “establishing production lines,” a growing number of Chinese enterprises are bringing diverse solutions to the negotiating table. Among the 32,000 participating companies, nearly 20% have already invested and established an overseas presence, driving the creation of over 200,000 local jobs. Moving from trade exchanges to industrial partnerships, China is taking concrete actions to uphold the multilateral trading system, keep global industrial and supply chains stable and running smoothly, and continuously inject new momentum into world development and prosperity. Industrial-capacity cooperation gains real traction For a long time, the overseas expansion of “Made in China” has primarily relied on product exports. At this Canton Fair, an increasing number of companies no longer just displayed products, but made “how to build a production line overseas” the focus of their negotiations. At the Skyworth booth, a European distributor that previously imported about 10,000 fully assembled refrigerators from China each year has now shifted to importing core components, with Chinese engineers sent on-site to guide local production line setup, assembly, and recruitment, while small packaging materials are also sourced locally. Although the annual output remains around 10,000 units, trade in complete units has evolved into closer cooperation on components, technology, and engineering capabilities. TCL’s practices have gone even further. The company established a joint venture with Brazilian partners, combining Chinese products and technology with local manufacturing and channel advantages; its Poland plant achieves an annual TV production capacity of 5 million units, enabling products to reach the European market within three to four days and creating hundreds of local jobs In the equipment manufacturing sector, at the booth of Guangzhou TECH-LONG Packaging Machinery Co., Ltd., an Uzbek buyer proposed introducing a complete dairy and beverage production line. The company responded by undertaking the entire process—from pretreatment, bottle blowing, and filling to labeling—leaving the local partner responsible only for the site and raw materials. Data shows that among the participating enterprises in this session, 36.5% have shifted to a “product + service” business model, and nearly 20% have carried out outward foreign direct investment, driving over 200,000 jobs overseas. Innovation energizes global markets The service robots exhibition area was bustling with activity. Long queues formed in front of exoskeleton robots as buyers took turns trying them on to experience walking and stair-climbing assistance. An overseas buyer with mobility challenges donned the exoskeleton robot, stood up, and took a few steps on the spot, prompting the accompanying family member to immediately place an order for the device. Linking brain-computer interfaces with exoskeletons, RoboCT Technology offers solutions for rehabilitation, mobility aids, and industrial support, entering European, American, Middle Eastern, and Southeast Asian markets under its own brand. Bionic robots and companion robots were equally eye-catching. A Dubai buyer plans to introduce companion robots to local schools, while a Chilean buyer held talks about becoming a distributor for high-altitude cleaning robots. Many new products were not built to meet existing demand, but to spark entirely new needs once seen by buyers. Exoskeletons are transitioning from laboratories into everyday use, energy storage is expanding from industrial and commercial sectors to balcony photovoltaic applications, and AI products are shifting toward full-stack system solutions that integrate hardware, algorithms and services. The first phase of this Canton Fair exhibited 235,000 AI-related products, with over 20,000 enterprises applying industrial internet or artificial intelligence technologies. The quantities of new products, AI products, and green products increased by 6.7%, 20.5%, and 13.5%, respectively, compared to the previous session, with many prototypes securing overseas cooperation intentions even before hitting the market. Market capacity is never a fixed pie. Exoskeletons unlock latent needs for mobility aids, while energy storage opens up off-grid power solutions—demonstrating how innovation creates demand when technology meets practical applications. This logic was fully on display at the Canton Fair: as China moves from “Made in China” toward smart manufacturing, Chinese innovation is delivering fresh momentum to global markets. As the first phase of the Canton Fair wraps up, the second and third phases will run sequentially through November 4th. With a history spanning nearly 70 years, Canton Fair serves not only as a barometer of China’s foreign trade, but also as a microcosm of its high-level opening-up. While negotiations on the exhibition floor will eventually conclude, the industrial collaboration set in motion here has only just begun. BY: Zengxiao

October 24, 2026

Business

2026 Chishui River Forum Held in Maotai Town, Guizhou.

The 2026 Chishui River Forum was held in Maotai Town, Guizhou Province, from October 16 to 18. Jointly initiated by the Brand Work Office of Xinhua News Agency, China Economic Information Service (CEIS) and China Moutai, the forum was themed “Interweaving Harmony Advancing with the Times”. Hundreds of guests, including global liquor industry leaders, cultural figures and industry experts, gathered to discuss how to preserve the industry’s heritage and chart its future development. https://youtu.be/t9qbpAq2CG4 At the main forum, Ao Hong, director-general of the Department of Industry and Information Technology of Guizhou Province, said that Guizhou’s sauce-aroma baijiu possesses unique advantages that cannot be replicated elsewhere. Guizhou will pursue “three transformations” to guide the industry beyond cutthroat competition toward collaborative growth, bridge tradition and the future, modernize classic products and create more engaging consumer experiences. The province also aims to build a community of shared interests with liquor producers at home and abroad. Chen Hua, chairman of China Moutai Group, outlined three priorities: upholding the principle of coexistence with nature to jointly protect the foundations of production regions; recognizing the momentum of changing times to accelerate industrial transformation; and deepening openness and cooperation to usher in a new chapter for the liquor industry. During the forum, the China Brands Go Global initiative was launched alongside the Global Partnership for Sustainable Development of the Liquor Industry. A think tank for the regional brand “Chishui River Valley: China’s Sauce-Aroma Baijiu” was also inaugurated, and the World Famous Liquor Sustainable Development Index Report (2026) was released. The forum also featured activities including recitations of classical Chinese poetry and prose and a gathering of Mao Dun Literature Prize-winning writers at Moutai. Writers A Lai and Su Tong shared their reflections in presentations titled “Cultural Heritage in Every Cup” and “On Moutai, On Life,” respectively. A roundtable discussion explored “Value Restructuring and Order Rebuilding in the Global Liquor Industry in an Era of Structural Change,” examining emerging trends and new opportunities in the global liquor sector.

October 24, 2026

Finance & Loan

Munich Re reports quarterly net profit of €1.7bn and raises full-year guidance

Munich Re recorded a preliminary net profit of approx. €1.7bn in the third quarter of 2026, delivering another quarter of strong financial performance and exceeding the analysts' consensus estimate of €1.479bn*. The result was driven by a very pleasing operating performance across all business segments, major losses below average expectations in P&C reinsurance, and a strong investment result in reinsurance. Subject to major-loss developments during the remainder of the year, Munich Re intends to continue strengthening its balance sheet where appropriate in the fourth quarter. Nevertheless, following a net result of €5.7bn for the first nine months of the year, Munich Re is raising its 2026 net profit guidance from €6.3bn to €6.6bn. Munich Re will report its final Q3 2026 results on 12 November 2026, as scheduled. * Mean value derived from the estimates of 13 financial analysts. About Munich Re Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The Group consists of the reinsurance and ERGO business segments, as well as the asset manager MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. Munich Re leverages its strengths to promote its clients’ business interests and technological progress. Moreover, Munich Re develops covers for new risks such as rocket launches, renewable energies, cyber risks and artificial intelligence. In the 2025 financial year, Munich Re generated insurance revenue of €60.4bn and a net result of €6.1bn. The Munich Re Group employed about 44,000 people worldwide as at 31 December 2025. Disclaimer This media release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development of our Company, in particular the results, financial situation and performance. Munich Re assumes no liability to update these forward-looking statements or to conform them to future events or developments. For media inquiries, please contact: Stefan Straub, Head of Group Media Relations, +49 (89) 3891-9896, [email protected] Axel Rakette, Pressesprecher, +49 (89) 3891-3141, [email protected] Irmgard Joas, Spokesperson, +49 (89) 3891-6188, [email protected] Frank Ziegler, Media Relations Asia-Pacific, Munich Re, +65 8511 3404, [email protected] Ashleigh Lockhart, Media Relations North America, +1 980-395-2979, [email protected] Bud Hedges, Spokesperson – UK & London Insurance Market, +44 77 5794 0981, [email protected]

October 24, 2026

Food & Beverage

Thai Union and i-Tail deliver 37,000 cans of food and pet food to flood-hit communities in Bangkok and nearby areas

Thai Union Group PCL and i-Tail Corporation PCL have donated 37,000 cans of SEALECT food products and Bellotta and Marvo pet food to support people and pets affected by flooding in Bangkok and surrounding areas. The donations were delivered through four organizations: the Bangkok Metropolitan Administration, Bua Phet Rescue Association, Goodness Foundation, led by Panadda Wongphudee, and the Ejan social media page. The donation includes 28,000 cans of SEALECT canned mackerel, 2,550 cans of SEALECT tuna chili paste, 4,800 boxes of SEALECT tuna spread with crackers and 1,500 cans of Bellotta and Marvo pet food for cats and dogs, with a total value of THB 1 million. Thiraphong Chansiri, President and CEO of Thai Union Group, said, “At Thai Union, we believe that collaboration and caring for one another are at the heart of supporting communities in times of crisis. We hope this donation helps ease the hardship faced by those affected by the floods and gives them strength and encouragement to get through this difficult time.”

October 24, 2026

Health

Lunit and Summit Therapeutics Announce Agreement to Apply AI-powered SCOPE IO Platform for Tumor Microenvironment Analysis in Immuno-Oncology Development

Research Will Use Lunit’s AI-powered Pathology Platform to Analyze H&E Whole-Slide Images and Generate Scalable Insights into Tumor Microenvironment Biology Lunit Inc. (KRX: 328130) and Summit Therapeutics Inc. (NASDAQ: SMMT) today announced a research agreement to evaluate the use of Lunit SCOPE IO, Lunit’s AI-powered pathology platform, for tumor microenvironment analysis in support of Summit’s immuno-oncology development programs with ivonescimab. The effort will focus on applying Lunit SCOPE IO to hematoxylin and eosin-stained (H&E) whole-slide images to characterize tumor microenvironment features. The companies aim to explore how AI-powered pathology analysis can support biomarker discovery, patient stratification or selection, and a deeper biological understanding of response to ivonescimab therapies. Summit is developing ivonescimab, a novel, potential first-in-class investigational PD-1 / VEGF bispecific antibody, in several solid tumors. Lunit SCOPE IO is designed to support immuno-oncology research and biomarker development through AI-powered analysis of H&E slides, enabling scalable assessment of tumor microenvironment features without requiring additional stains or assays. “Understanding the tumor microenvironment is increasingly important as immuno-oncology moves beyond single-axis checkpoint inhibition toward more complex mechanisms and combinations,” said Allen Yang, MD, PhD, Chief Research and Development Strategy Officer of Summit. “We are pleased to work with Lunit to explore how AI-powered pathology can help generate deeper, more scalable insights from routine tissue samples and inform the continued development of ivonescimab.” “Summit is at the forefront of next-generation immuno-oncology development, and we are excited to support its efforts with Lunit SCOPE IO,” said Brandon Suh, Lunit CEO. “By extracting quantitative, spatially resolved immune and tumor microenvironment features from standard H&E slides, we believe SCOPE IO can help biopharma partners better understand which patients may benefit from immuno-oncology therapies and why.” This agreement reflects the growing importance of computational pathology in oncology drug development. Routine H&E slides contain rich information about tumor architecture, immune infiltration, stromal organization, and spatial interactions within the tumor microenvironment. However, traditional manual assessment can be difficult to scale and may not fully capture the quantitative and spatial complexity of the tumor-immune interface. AI-powered analysis offers the potential to convert these routinely generated pathology images into reproducible, high-dimensional biomarker data. The companies expect the work to generate tumor microenvironment insights that may inform future translational research, exploratory biomarker strategies, and clinical development planning. No clinical outcome data are being announced as part of this release. *Lunit SCOPE products are for research use only. Not for use in diagnostic procedures or decisions. ### About Ivonescimab Ivonescimab, known as SMT112 in Summit’s license territories, North America, South America, Europe, the Middle East, Africa, and Japan, and as AK112 outside of Summit’s license territories, is a novel, potential first-in-class investigational bispecific antibody combining the effects of immunotherapy via a blockade of PD-1 with the anti-angiogenesis effects associated with blocking VEGF into a single molecule. By design, ivonescimab displays unique cooperative binding to each of its intended targets with multifold higher affinity to PD-1 when in the presence of VEGF. This design is intended to differentiate ivonescimab as there is potentially higher expression (presence) of both PD-1 and VEGF in tumor tissue and the tumor microenvironment (TME) as compared to normal tissue in the body. Summit believes ivonescimab’s specifically engineered tetravalent structure (four binding sites) enables higher avidity (accumulated strength of multiple binding interactions) in the TME (Zhong, et al , iScience, 2025). This tetravalent structure, the intentional novel design of the molecule, and bringing these two targets into a single bispecific antibody with cooperative binding qualities have the potential to direct ivonescimab to the tumor tissue versus healthy tissue. The intent of ivonescimab’s design, together with a half-life of 6 to 7 days after the first dose (Zhong, et al , iScience, 2025) increasing to approximately 10 days at steady state dosing, is to improve upon previously established efficacy thresholds, side effects, and safety profiles associated with prior approved drugs to these targets. Ivonescimab was invented by Akeso Inc. (HKEX Code: 9926.HK) and is currently utilized in multiple Phase III clinical trials. Over 5,000 patients have been treated with ivonescimab in clinical studies globally and over 100,000 patients when considering those treated in a commercial setting in China, as noted by Akeso. There are currently 17 Phase III clinical studies that are either announced, ongoing, or have been completed studying ivonescimab, five of which are Summit-sponsored global studies, two of which are studies sponsored by cooperative groups, and 10 of which are being or have been conducted in China by Akeso. Summit began its clinical development of ivonescimab in NSCLC (HARMONi, HARMONi-3, HARMONi-7) and expanded its sponsored Phase III clinical development program into colorectal cancer (CRC; HARMONi-GI3) and urothelial carcinoma (bladder cancer; HARMONi-GU1). The two cooperative studies are in head and neck squamous cell carcinoma (HNSCC; ILLUMINE) and biliary tract cancer (BTC; EA2251). Five Phase III ivonescimab clinical trials have read out to date, all five with positive data. Four of these five studies are in NSCLC and one is in BTC. In addition to Summit’s positive HARMONi study in NSCLC, Akeso has had positive read-outs in four single-region (China), randomized Phase III clinical trials, HARMONi-A, HARMONi-2, HARMONi-6 (each in NSCLC), and HARMONi-GI1 (in BTC) for ivonescimab, including a statistically significant overall survival benefit in all four studies from China. Akeso is actively conducting additional Phase III clinical studies in settings outside of NSCLC and biliary-tract cancer, including triple-negative breast cancer, head and neck squamous cell carcinoma, small cell lung cancer, colorectal cancer, and pancreatic cancer. Ivonescimab is an investigational therapy that is not approved by any regulatory authority in Summit’s license territories, including the United States and Europe. Ivonescimab was initially approved for marketing authorization in China in May 2024. About Lunit Inc. Founded in 2013, Lunit (KRX: 328130) is a global leader on a mission to conquer cancer through AI. Our clinically validated solutions span medical imaging, breast health, and biomarker analysis, empowering earlier detection, smarter treatment decisions, and more precise outcomes across the cancer care continuum. Lunit offers a comprehensive suite spanning risk prediction and early detection to precision oncology. Our FDA-cleared Lunit INSIGHT Breast Suite and breast health solutions support cancer screening in thousands of medical institutions worldwide, while the Lunit SCOPE platform is used in research partnership with global pharma and laboratory leaders for biomarker research, and companion diagnostic development. Trusted by over 10,000 sites in more than 65 countries, Lunit combines deep medical expertise with continuously evolving datasets to deliver measurable impact for patients, clinicians, and researchers alike. Headquartered in Seoul with global offices, Lunit is driving the worldwide fight against cancer. Learn more at lunit.io . About Summit Therapeutics Inc. Summit Therapeutics Inc. is a biopharmaceutical oncology company focused on the discovery, development, and commercialization of patient-, physician-, caregiver- and societal-friendly medicinal therapies intended to improve quality of life, increase potential duration of life, and resolve serious unmet medical needs. Summit was founded in 2003 and the company’s shares are listed on the Nasdaq Global Market (symbol "SMMT"). Summit is headquartered in Miami, Florida, with additional offices in Palo Alto, California, Princeton, New Jersey, Dublin, Ireland, and Oxford, UK. For more information, please visit https://www.smmttx.com and follow Summit on X @SMMT_TX . Lunit Forward-Looking Statements This press release contains forward-looking statements, including statements regarding the expected benefits of the collaboration, the potential use of AI-powered pathology in immuno-oncology development, and the potential application of tumor microenvironment analysis in biomarker research and clinical development. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially. Neither company undertakes any obligation to update these forward-looking statements, except as required by law. Summit Forward-Looking Statements Any statements in this press release about the Company’s future expectations, plans and prospects, including but not limited to, statements about dilution to existing stockholders and potential adverse effects on the market price of the Company's common stock, including from future sales by AstraZeneca, the Company's broad discretion over the use of proceeds, and the possibility that the proceeds will not be sufficient to fund operations as long as anticipated, AstraZeneca’s ownership and contractual rights, including Third Party acquisition participation, and registration rights, and potential conflicts of interest, the completion of the Private Placement does not depend on the parties entering into a definitive collaboration agreement, the Company's reliance on AstraZeneca for the supply of AstraZeneca’s products and other contributions to the clinical trials, the clinical and preclinical development of the Company’s product candidates, entry into and actions related to the Company’s partnership with Akeso Inc. and other collaborations, the intended use of the net proceeds from the private placements, the Company's anticipated spending and cash runway, the therapeutic potential of the Company’s product candidates, the potential commercialization of the Company’s product candidates, the timing of initiation, completion and availability of data from clinical trials, the potential submission of applications for marketing approvals, the expected timing of BLA submissions or FDA decisions, potential acquisitions, statements about the previously disclosed At-The-Market equity offering program (“ATM Program”), the expected proceeds and uses thereof, the Company’s estimates regarding stock-based compensation, and other statements containing the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "would," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the Company’s ability to sell shares of our common stock under the ATM Program, the conditions affecting the capital markets, general economic, industry, or political conditions, including the effects of geopolitical developments, domestic and foreign trade policies, and monetary policies, the results of our evaluation of the underlying data in connection with the development and commercialization activities for ivonescimab, the outcome of discussions with regulatory authorities, including the Food and Drug Administration, the uncertainties inherent in the initiation of future clinical trials, availability and timing of data from ongoing and future clinical trials, the results of such trials, and their success, global public health crises, that may affect timing and status of our clinical trials and operations, whether preliminary results from a clinical trial will be predictive of the final results of that trial or whether results of early clinical trials or preclinical studies will be indicative of the results of later clinical trials, whether business development opportunities to expand the Company’s pipeline of drug candidates, including without limitation, through potential acquisitions of, and/or collaborations with, other entities occur, expectations for regulatory approvals, laws and regulations affecting government contracts and funding awards, availability of funding sufficient for the Company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements and other factors discussed in the "Risk Factors" and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of filings that the Company makes with the Securities and Exchange Commission. Summit defines a “positive study” as a clinical study with one or more prespecified primary endpoints in which one of those endpoints achieves a statistically significant benefit according to the protocol or statistical analysis plan. Any change to our ongoing trials could cause delays, affect our future expenses, and add uncertainty to our commercialization efforts, as well as to affect the likelihood of the successful completion of clinical development of ivonescimab. Accordingly, readers should not place undue reliance on forward-looking statements or information. In addition, any forward-looking statements included in this press release represent the Company’s views only as of the date of this release and should not be relied upon as representing the Company’s views as of any subsequent date. The Company specifically disclaims any obligation to update any forward-looking statements included in this press release.

October 23, 2026

Business

Online Promotion Event Celebrating Yellow Emperor Culture in Southern China Held in Jinyun, Zhejiang

An online communication and promotion event celebrating Yellow Emperor culture in southern China was held in Jinyun County, Lishui City, Zhejiang Province, from October 18 to 19. Themed “A Dialogue Before the Yellow Emperor Ancestral Hall,” the event brought together experts, scholars and industry leaders to trace the roots of Yellow Emperor culture and explore ways to preserve, promote and creatively transform it, raising its online visibility and fostering a stronger sense of cultural identification. Scene of the China Southern Yellow Emperor Culture Online Communication and Promotion Event The event used AI technology to produce a visual creation called “Huang Xiaodi,” offering a creative presentation of how Jinyun preserves and promotes Yellow Emperor culture. Experts and scholars in history, archaeology, sociology and tourism development delivered keynote speeches and took part in roundtable discussions on key topics, including the preservation, promotion and creative transformation of Yellow Emperor culture, digital and AI-powered communication, and the integrated development of culture and tourism. Xinhuanet livestreamed the entire event, drawing a cumulative audience of 675,000 and extending its online reach. The event showcased achievements in the creative transformation of Yellow Emperor culture. Jinyun has preserved its cultural roots by rebuilding the Yellow Emperor Ancestral Hall, reviving the twice-yearly sacrificial ceremonies, securing the inclusion of the Xuanyuan Sacrificial Ceremony on the national intangible cultural heritage list, and securing provincial government sponsorship of the ceremony. Guided by a spirit of innovation, the county has fostered a shaobing (Chinese baked flatbread) industry that generates 4.5 billion yuan in annual output and boosts local incomes, while its industrial enterprises above the designated size have achieved a combined output value of 52.5 billion yuan. It has also developed motorcycle tourism and promoted the incorporation of Yellow Emperor culture into textbooks. Drawing on its exchange centers, Jinyun has strengthened exchanges involving overseas Chinese organizations, people on both sides of the Taiwan Strait, and young people. It has also hosted a series of academic symposia, yielding more than 400 research papers.

October 23, 2026

Business

What Is CIIF? Inside the China International Industry Fair’s 2026 Edition

CIIF stands for China International Industry Fair, the industrial exhibition held in Shanghai, China. The 2026 edition concluded on October 16 after five days at the National Exhibition and Convention Center (Shanghai), bringing manufacturing technologies, professional trade activity, industry discussions and awards into one event. For readers encountering the initials in coverage of robotics, machinery or factory technology, CIIF identifies the wider fair in which those subjects come together. The completed edition provides a concrete view of that identity. According to the organizer’s closing report, the 26th CIIF covered 311,600 square meters and hosted 3,247 exhibitors from 24 countries and regions. Its program combined ten theme shows with more than 1,000 new technology and product debuts, 12 keynote industry forums and 225 concurrent events. The theme was “Smart Economy, Boundless Manufacturing.” An industrial fair with several ways to participate The China International Industry Fair combines four established functions: exhibition, trade, forums and awards. These explain why its name appears in different kinds of industrial coverage. A report about a machine demonstration, a discussion of manufacturing applications and news about an industrial award can all concern the same event while describing different activities within it. The distinction matters for understanding CIIF’s place in the manufacturing calendar. An exhibition presents equipment, components and technologies. Trade activity brings suppliers into conversation with professional buyers and industrial users. Forums provide a setting for discussion, while awards recognize selected developments. The 2026 edition put these activities alongside each other during the October 12–16 exhibition period. That combination gives CIIF a broader remit than a single product showcase. Its audience includes people examining a particular technology and those interested in the connections between production processes. A machinery supplier, a manufacturing engineer and a materials specialist may approach the event with different questions, even when their work contributes to the same finished product or production line. The 2026 program connected specialist fields The ten theme shows gave the exhibition distinct technical areas within a shared industrial setting. Metalworking and CNC machinery, automation and robotics formed part of the program alongside energy, intelligent manufacturing, transportation, low-carbon industry, materials, scientific and technological innovation, and the integrated-circuit ecosystem. These were sections of CIIF, with their own technical emphasis inside the overall fair. The connections between those fields are practical. A machining application can involve workholding, automated handling and inspection. An equipment upgrade can raise questions about controls, production information and energy use. Grouping related technologies within one exhibition allows those dependencies to become part of the discussion, rather than leaving each product to be considered only within its own category. For example, assessing a robot for a production task involves more than its movement. The surrounding equipment, the parts it handles and the way it communicates with the production system all affect the application. For an engineering team, those connections can turn a discussion about one component into a broader assessment of handling, controls and inspection requirements across the production process. Industrial Automation Show and Robotics Show are two of the specialist names associated with CIIF. Their relationship to the parent fair helps explain why coverage may refer to automation or robotics while also using the CIIF name. The overall exhibition gives these subjects a shared Shanghai context, while the specialist shows keep their individual technical focus. The division into specialist areas also helps explain how different professional roles can use the same event. Equipment engineers may focus on technical performance and compatibility, production teams on operating requirements, and procurement teams on supplier support and the scope of a proposed solution. Those are related perspectives on an industrial decision. CIIF’s structure provides a setting for discussing them across several fields, without making every visitor’s objectives identical. The 2026 edition’s manufacturing focus extended beyond machines and robots. Materials, energy and research have their own roles in industrial development: material properties influence product and process choices, energy systems support operations, and research can lead to new industrial applications. Their inclusion helps explain the scope of the China International Industry Fair name. The fair brings these fields into a manufacturing context, where technical developments can be considered alongside the equipment and systems that may use them. What the participation figures show International participation was recorded through both the exhibitor community and the professional audience. The 3,247-exhibitor total covered domestic and international participants from 24 countries and regions. It described the organizations exhibiting at the fair, rather than the number of overseas exhibitors alone. By 14:00 on October 16, 2026, the organizer had recorded 255,600 trade visits, including 21,500 overseas visits. The professional audience came from 170 countries and regions. These are visit-based figures, which can include repeat attendance, and reflect the stated reporting cutoff rather than a final closing total or a count of unique individuals. The exhibitor and audience figures describe different sides of the event. The former concerns organizations presenting technologies; the latter reflects the geographical reach and attendance activity of the professional audience. Together, they describe the international reach of the Shanghai gathering. Attendance measures participation; it provides no separate measure of orders or investment completed during the exhibition. For manufacturing businesses, the significance of that setting is the opportunity to encounter technical perspectives from different markets. A discussion can involve application requirements, supplier capabilities or the integration work needed around equipment. The reported participation figures establish the scale of the gathering; the substance of individual business relationships depends on the companies and projects involved. Product debuts, forums and recognition The organizer’s 2026 closing report recorded more than 1,000 new technologies and products making their debut. That activity added a current-edition dimension to the exhibition: alongside the established industrial categories, participants encountered newly introduced technologies and products. The total describes debuts at CIIF and does not establish that every introduction was a worldwide first. The forum and concurrent-event program provided another way to engage with the subjects on display. Alongside 12 keynote industry forums and 225 concurrent events, the closing report noted contributions from 21 domestic and international academicians during exhibition events. These discussions complemented the exhibition floor, bringing industry perspectives into the same week as the technology presentations. Awards added a further form of recognition. The organizer reported 10 CIIF Awards, one CIIF Special Organizing Committee Award and 12 CIIF Professional Awards. The awards formed a separate part of the program alongside product presentations and industry discussions. Their inclusion illustrates how the fair combines the display of industrial technologies with recognition of selected achievements and opportunities for professional exchange. Taken together, the 2026 activities show why CIIF is discussed as an industrial fair rather than only as a machinery exhibition or conference. The exhibition floor, commercial conversations, forums and awards served different purposes within one program. For readers asking what CIIF is, the completed Shanghai edition offers a concrete answer: a multi-sector industrial gathering where manufacturing technologies were displayed, examined and discussed by a domestic and international professional audience.

October 23, 2026

“instax mini Evo Cinema™” named one of TIME’s Best Inventions of 2026

FUJIFILM Corporation announces that the instax mini Evo Cinema™ hybrid instant camera has been selected as one of TIME’s Best Inventions of 2026 in the Consumer Electronics category. This is the second consecutive year Fujifilm has been named to TIME’s Best Inventions list, with the instax WIDE Evo™ hybrid instant camera selected in 2025. Separately, Fujifilm was recognized earlier this year as a TIME100 Most Influential Company and named an industry leader in the hardware sector. “TIME’s Best Inventions of 2026” highlights emerging fields such as AI, apps and software, connectivity and communication, manufacturing and materials, medical and healthcare, and more, with nominations submitted by TIME’s editors and correspondents worldwide. Each product or idea is evaluated based on several key criteria, including originality, efficacy, ambition, and impact. This year, TIME’s annual list features 300 groundbreaking innovations that “make the world better, smarter, and even a bit more fun.” For more details, visit TIME’s Best Inventions 2026. TIME’s Best Inventions 2026 The instax mini Evo Cinema™ can capture both still images and videos. It converts captured video data into a QR code*1 and creates an instax™ print together with a still image cut out from the video, allowing users to “hand over a video.” The camera is equipped with the “Eras Dial™”, which lets users experience effects inspired by different eras. 10 “Eras Dial™” effects are available, including “1960” inspired by 8mm film cameras. Each effect has 10 adjustable levels, offering a total of 100 possible expressions. These effects capture the unique flavor of each era, letting users shoot extraordinary, special videos and still images with a sense of time travel. In its Best Inventions of 2026 list, TIME commented “So you love your Instax, but miss being able to capture a quick video; the Fujifilm Instax Mini Evo Cinema offers oodles of analog charm in a digital friendly package.” Fujifilm will continue to expand the world of the instax™ instant photo system that allows people to enjoy on-the-spot photo printing. *1 QR Code is a registered trademark of Denso Wave Incorporated. After printing a instax™ print with a QR code, it is necessary to upload the video data to the server via the “instax mini Evo™” app. The download period for video data is two years from the time they are uploaded to the server via the dedicated smartphone app along with the captured images. About the instax™ brand Since its original launch in 1998, the instax™ series of instant cameras has embraced trends and evolving technologies with time and expanded its lineup to include not only analog instant cameras, but also hybrid instant cameras using digital technology, smartphone printers and palm-sized digital camera. The instax™ continues to offer diverse ways to enjoy photography, broadening the user base in more than 100 countries. *instax, instax WIDE Evo, instax mini Evo Cinema, and Eras Dial are registered trademarks or trademarks of Fujifilm Corporation. Note: Contact and other non-content metadata were omitted.

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