Author: Asianet Pakistan

REGULATED INFORMATION

Nyxoah Reports First Quarter Financial and Operating Results
Company On Track for Anticipated PMA Approval in the Second Quarter of 2025
Successfully Completed FDA Validation Requirements, Final Site Inspection in Progress

Mont-Saint-Guibert, Belgium – May 14, 2025, 7am CET / 1am ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company that develops breakthrough treatment alternatives for Obstructive Sleep Apnea (OSA) through neuromodulation, today reported financial and operating results for the first quarter of 2025.

Recent Financial and Operating Highlights

• Received an FDA Approvable Letter indicating the FDA will approve the Company’s PMA application for its Genio® system subject to satisfactory completion of a manufacturing facilities, methods and controls review
• Successfully completed FDA validation requirements, final site inspection in progress at the U.S. contract manufacturing site
• Revenue for the first quarter of 2025 was €1.1 million, compared to €1.2 million in the first quarter of 2024
• Launched Genio® 2.1 patient software upgrade in international commercial markets
• Cash, cash equivalents and financial assets were €63.0 million at March 31, 2025, compared to €85.6 million at the end of 2024

“We are excited that we are in the final stage of the FDA review process of our Genio® system in the United States,” commented Olivier Taelman, Nyxoah’s Chief Executive Officer. “The FDA Approvable Letter we received previously confirms that our application substantially meets the requirements of the Federal Food, Drug and Cosmetic Act, including biocompatibility and acceptance of our clinical data demonstrating the safety and effectiveness of the Genio® system. We have successfully completed the final process validation requested by the FDA. We understand that the last step toward FDA approval is an on-site inspection at the U.S. manufacturing site which we expect to be completed shortly. As part of the PMA process, this site has already successfully passed an on-site inspection with no deficiencies, which gives us confidence in completing this regulatory step. We continue to anticipate that our application could potentially be approved in the second quarter of 2025.”

CONSOLIDATED STATEMENTS OF LOSS AND OTHER COMPREHENSIVE LOSS (unaudited)
(in thousands)

			For the three months ended March 31
			2025		2024
Revenue			€ 1 064		€ 1 221
Cost of goods sold			( 406)		( 455)
Gross profit			€ 658		€ 766
Research and Development Expense			(8 989)		(7 199)
Selling, General and Administrative Expense			(12 392)		(5 972)
Other income/(expense)			84		192
Operating loss for the period			€ (20 639)		€ (12 213)
Financial income			2 622		1 408
Financial expense			(4 242)		( 991)
Loss for the period before taxes			€ (22 259)		€ (11 796)
Income taxes			( 125)		( 110)
Loss for the period			€ (22 384)		€ (11 906)
Loss attributable to equity holders			€ (22 384)		€ (11 906)
Other comprehensive (loss)
Items that may be subsequently reclassified to profit or loss (net of tax)
Currency translation differences			( 2)		60
Total comprehensive loss for the year, net of tax			€ (22 386)		€ (11 846)
Loss attributable to equity holders			€ (22 386)		€ (11 846)
Basic Loss Per Share (in EUR)			€ (0.598)		€ (0.415)
Diluted Loss Per Share (in EUR)			€ (0.598)		€ (0.415)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (unaudited) (in thousands)
				As at
				March 31 2025		December 31 2024
ASSETS
Non-current assets
Property, plant and equipment				4 696		4 753
Intangible assets				50 977		50 381
Right of use assets				3 152		3 496
Deferred tax asset				78		76
Other long-term receivables				1 790		1 617
				€ 60 693		€ 60 323
Current assets
Inventory				4 981		4 716
Trade receivables				2 604		3 382
Other receivables				3 128		2 774
Other current assets				1 450		1 656
Financial assets				40 653		51 369
Cash and cash equivalents				22 394		34 186
				€ 75 210		€ 98 083
Total assets				€ 135 903		€ 158 406
EQUITY AND LIABILITIES
Share capital and reserves
Share capital				6 430		6 430
Share premium				314 345		314 345
Share based payment reserve				11 256		9 300
Other comprehensive income				912		914
Retained loss				(240 100)		(217 735)
Total equity attributable to shareholders				€ 92 843		€ 113 254
LIABILITIES
Non-current liabilities
Financial debt				18 519		18 725
Lease liability				2 316		2 562
Provisions				548		1 000
Deferred tax liability				27		19
Contract liabilities				277		472
Other liabilities				401		845
				€ 22 088		€ 23 623
Current liabilities
Financial debt				244		248
Lease liability				1 010		1 118
Trade payables				9 316		9 505
Current tax liability				4 300		4 317
Contract liability				368		117
Other liabilities				5 734		6 224
				€ 20 972		€ 21 529
Total liabilities				€ 43 060		€ 45 152
Total equity and liabilities				€ 135 903		€ 158 406

Revenue
Revenue was €1.1 million for the first quarter ending March 31, 2025, compared to €1.2 million for the first quarter ending March 31, 2024.

Cost of Goods Sold
Cost of goods sold was €406,000 for the first quarter ending March 31, 2025, representing a gross profit of €0.7 million, or gross margin of 61.8%. This compares to cost of goods sold of €455,000 in the first quarter ending March 31, 2024, for a gross profit of €0.8 million, or gross margin of 62.7%.

Research and Development
For the first quarter ending March 31, 2025, research and development expenses were €9.0 million, versus €7.2 million for the first quarter ending March 31, 2024. The increase in research and development expenses was primarily due to higher R&D activities and clinical study expenses.

Selling, General and Administrative
For the first quarter ending March 31, 2025, selling, general and administrative expenses were €12.4 million, versus €6.0 million for the first quarter ending March 31, 2024. The increase in selling, general and administrative expenses was primarily due to an increase in costs to support the commercialization of Genio® system, the Company’s overall scale-up preparations for the upcoming commercialization of Genio® system in the US upon receipt of FDA approval.

Operating Loss
Total operating loss for the first quarter ending March 31, 2025 was €20.6 million, versus €12.2 million in the first quarter 2024, respectively. This was driven by an increase in selling, general and administrative expenses to support commercialization of the Genio system, the Company’s overall scale-up preparations for the upcoming commercialization of Genio® system in the US upon receipt of FDA approval and increased R&D activities and clinical study expenses.

Cash Position
As of March 31, 2025, cash, cash equivalents and financial assets totaled €63.0 million, compared to €85.6 million at the end of 2024.

First Quarter 2025
Nyxoah’s financial report for the first quarter of 2025, including details of the consolidated results, are available on the investor page of Nyxoah’s website (https://investors.nyxoah.com/financials).

Progress Toward FDA PMA Approval
On March 26, 2025, Nyxoah announced that the U.S. Food and Drug Administration (FDA) issued an Approvable Letter regarding the Company’s Pre-Market Approval (PMA) application for the Genio® system. The Approvable Letter means that Nyxoah’s application for marketing the device in the United States substantially meets the requirements of the Federal Food, Drug and Cosmetic Act and the FDA’s PMA implementing regulations.

The FDA has accepted all other data provided with the PMA submission, including most importantly that the clinical study demonstrates the safety and effectiveness of the Genio® system. Nyxoah has successfully completed the validation work requested by the FDA for the manufacturing process used for a component of the Genio system at the U.S. manufacturing site. The Company submitted the required documentation to the FDA, which has reviewed this validation work and confirmed they have no further questions. We believe that the last step before full PMA approval is an on-site FDA inspection of the U.S. manufacturing site which we expect to be completed shortly. As part of the PMA process, this site already passed an on-site inspection with no deficiencies, giving the Company confidence in completing this regulatory step. Nyxoah anticipates that its application could potentially be approved in the second quarter of 2025.

Conference call and webcast presentation
Company management will host a conference call to discuss financial results on Wednesday, May 14, 2025, beginning at 2:00pm CET / 8:00am ET.

A webcast of the call will be accessible via the Investor Relations page of the Nyxoah website or through this link: Nyxoah’s Q1 2025 Earnings Call Webcast. For those not planning to ask a question of management, the Company recommends listening via the webcast.

If you plan to ask a question, please use the following link: Nyxoah’s Q1 2025 Earnings Call. After registering, an email will be sent, including dial-in details and a unique conference call access code required to join the live call. To ensure you are connected prior to the beginning of the call, the Company suggests registering a minimum of 10 minutes before the start of the call.

The archived webcast will be available for replay shortly after the close of the call.

About Nyxoah
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio® system received its European CE Mark in 2019. Nyxoah completed two successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July 2021. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company announced positive outcomes from the DREAM IDE pivotal study.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.

Forward-looking statements

Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company’s or, as appropriate, the Company directors’ or managements’ current expectations regarding the Genio® system; planned and ongoing clinical studies of the Genio® system; the potential advantages of the Genio® system; Nyxoah’s goals with respect to the development, regulatory pathway and potential use of the Genio® system; receipt of FDA approval; satisfactory completion of a manufacturing facilities, methods and controls review, and the anticipated timing of the foregoing; entrance to the U.S. market; and the Company’s results of operations, financial condition, liquidity, performance, prospects, growth and strategies. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and factors could adversely affect the outcome and financial effects of the plans and events described herein. Additionally, these risks and uncertainties include, but are not limited to, the risks and uncertainties set forth in the “Risk Factors” section of the Company’s Annual Report on Form 20-F for the year ended December 31, 2024, filed with the Securities and Exchange Commission (“SEC”) on March 20, 2025, and subsequent reports that the Company files with the SEC. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities are not guarantees of future performance and should not be taken as a representation that such trends or activities will continue in the future. In addition, even if actual results or developments are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. No representations and warranties are made as to the accuracy or fairness of such forward-looking statements. As a result, the Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based, except if specifically required to do so by law or regulation. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person’s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Contacts:

Nyxoah
John Landry, CFO
[email protected]

For Media
In United States
FINN Partners – Glenn Silver
[email protected]

For Media
Belgium/France
Backstage Communication – Gunther De Backer
[email protected]

International/Germany
MC Services – Anne Hennecke
[email protected]

Attachment

ENGLISH_Q1 2025 Earnings PR_V3

GlobeNewswire Distribution ID  1001096431

WASHINGTON, May 13, 2025 (GLOBE NEWSWIRE) — The Sabin Vaccine Institute today awarded the Albert B. Sabin Gold Medal to pediatrician Katherine O’Brien, MD, MPH, for her research on the pneumococcal vaccine and leadership in global vaccine research and access, and its Rising Star Award to dedicated physician and public health specialist Livancliff Mbianke, MD, MPH, of Cameroon. The awards were presented at a ceremony in the National Academy of Sciences building in Washington D.C.

Sabin Vaccine Institute Presents 2025 Albert B. Sabin Gold Medal & Rising Star Awards

O’Brien is a pioneering global health leader whose innovative work in vaccine access and policy has transformed immunization programs worldwide.

“I am honored to award the Sabin Gold Medal to Dr. O’Brien for her extensive scientific and humanitarian work, which has significantly contributed to the development, licensure, and global distribution of critical immunizations,” says Amy Finan, Sabin’s chief executive officer. “The breadth and scope of her work — in addition to her leadership in advancing the availability of vaccines for everyone, everywhere — has saved millions of lives around the world.”

O’Brien’s interest in vaccines and preventable illness began during her early career as a research pediatrician in Port-au-Prince, Haiti, where almost a third of children admitted to the hospital she worked at died, often from vaccine-preventable diseases. Returning to the U.S. to pursue her infectious disease fellowship, Master of Public Health, and training as an epidemiologist, she then worked for the Johns Hopkins Center for American Indian Health and led groundbreaking clinical trials on the pneumococcal vaccine to establish the vaccine’s performance and impact on both disease and on colonization to achieve both individual and population-level protection. O’Brien was appointed Director of Infectious Disease at the Center and led research on vaccine development and implementation for vaccine-preventable diseases disproportionately affecting Indigenous populations. Her work in large-scale vaccine impact studies and clinical trials has been instrumental in the licensure, introduction and global use of vaccines against pneumococcal disease, rotavirus, influenza, and respiratory syncytial virus (RSV).
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O’Brien continued her leadership in vaccine development, access, and research in her position as the Executive Director of the International Vaccine Access Center (IVAC) at the Johns Hopkins Bloomberg School of Public Health. She has served on WHO’s Strategic Advisory Group of Experts on Immunization (SAGE) and on the board of Gavi, the Vaccine Alliance, where she has influenced vaccine financing, policy development, and global immunization strategies.

In her current role as Director, Immunization, Vaccines and Biologicals for the World Health Organization (WHO), O’Brien leads the global vaccine and immunization strategy. She oversees WHO’s work across the vaccine continuum by accelerating new vaccine research and development, advancing vaccine access and equity, introducing new vaccines into country programs, identifying and responding to outbreaks including as WHO’s vaccine technical lead during the COVID-19 pandemic, and strengthening immunization program reach in order to maximize the impact of vaccines, even in the most fragile and vulnerable settings.

O’Brien earned her medical degree from McGill University and a Master of Public Health from Johns Hopkins University. She completed her pediatric and infectious disease training at Johns Hopkins Medical Institutions and served as an Epidemic Intelligence Service officer at the U.S. Centers for Disease Control and Prevention (CDC).

“I am deeply grateful for a career working with incredible people around the world, and through them to have life-saving impact,” says O’Brien. “Vaccines are truly one of science’s greatest achievements. It is immensely fulfilling to work on vaccines all the way from development through licensure and dissemination, and to then see them protect the lives and well-being of families. This award is a huge honor, and a tribute to those who have taught me the value of evidence-based courage.”

Sabin’s Rising Star Award is intended to encourage and recognize the next generation of vaccine and immunization leaders. Mbianke is a dedicated physician and public health specialist whose work in vaccine access and strengthening health systems has made a profound impact on underserved communities. With expertise in immunization, maternal and child health, and community engagement, Mbianke has played a pivotal role in expanding vaccine coverage and improving health outcomes in Cameroon.

“With his recognized achievements in reducing maternal and child mortality by 50% in remote areas and increasing accessibility of vaccines, Dr. Mbianke is leading innovations around immunization in fragile settings,” says Finan. “Whether he is delivering vaccines to displaced populations or creating health clinics out of village councils, his creative solutions serve as a model for those working in challenging settings and makes him a Rising Star in global health.”

As Program Country Manager for the COMBAT Project (Community-Based Tracking for Immunization) at the International Vaccine Access Center (IVAC), Mbianke leads efforts to enhance immunization delivery by improving community-based monitoring, engagement, and service delivery strategies. He also serves as Technical Advisor for the World Health Organization’s “Big Catch-Up,” a global initiative aimed at restoring vaccine coverage following pandemic-related disruptions.

Beyond his advisory roles, Mbianke is the CEO of Empower Women Foundation, where he champions maternal and child health initiatives in Cameroon, advocating for sustainable and locally driven health care solutions. His leadership extends to past roles with WHO, Gavi, USAID, and other global health organizations, where he has contributed to immunization policy formulation and innovative strategies to reach zero-dose and under-immunized children.

A graduate of Université de la Montagne Bagante (MD) and Mountain University for Sustainable Studies (MPH), Mbianke combines medical expertise with public health leadership to promote vaccine confidence and equitable access.

“This award is so meaningful,” says Mbianke. “When you work in settings with such a high burden, sometimes you feel you are not doing enough because you want to improve as many lives as possible. But recognition like the Rising Star award really motivates you. It says you are creating an impact. You are creating a change.”

Awarded annually since 1993 and 2020 respectively, the Albert B. Sabin Gold Medal and Rising Star Award honor individuals who have made extraordinary contributions to immunization and global health. These awards commemorate the legacy of the late Dr. Albert B. Sabin, who discovered the oral polio vaccine and dedicated his life to ensuring everyone in the world had access to vaccines.

Watch the 2025 Albert B. Sabin Gold Medal and Rising Star ceremony on Sabin’s YouTube channel.

About the Sabin Vaccine Institute

The Sabin Vaccine Institute is a leading advocate for expanding vaccine access and uptake globally, advancing vaccine research and development, and amplifying vaccine knowledge and innovation. Unlocking the potential of vaccines through partnership, Sabin has built a robust ecosystem of funders, innovators, implementers, practitioners, policy makers and public stakeholders to advance its vision of a future free from preventable diseases. As a non-profit with three decades of experience, Sabin is committed to finding solutions that last and extending the full benefits of vaccines to all people, regardless of who they are or where they live. At Sabin, we believe in the power of vaccines to change the world. For more information, visit www.sabin.org and follow us on X @SabinVaccine.

Media Contact:
Monika Guttman
Senior Media Relations Specialist
Sabin Vaccine Institute
+1 (202) 621-1691
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c995d1e5-eae3-4d74-b2fa-6e7914d38549

GlobeNewswire Distribution ID 9451069

• Implementation and maintenance of tunnel management systems for five tunnels in Emirate of Sharjah
• Cutting-edge AI solution to potentially integrate with the mechanical, electrical & plumbing systems to further upgrade state-of-the-art road safety systems at a later date

VIENNA, AUSTRIA / SHARJAH, UAE – Media OutReach Newswire – 14 May 2025 – Kapsch TrafficCom was awarded the system implementation and maintenance of five tunnels by Sharjah Roads & Transport Authority (SRTA), Govt, of Sharjah.

The tunnels are located on the road that connects the economic hub Khorfakkan with the rest of the Emirate through the Hajar Mountains, cutting driving time from the port city to the capital Sharjah from over 100 minutes to around 45 minutes. Starting with May 2025, Kapsch TrafficCom will be responsible for enhancing the operational efficiency, safety and regulatory compliance of the tunnel systems.

The contract with a value in the double digit millions extends over three years of delivery and two years of subsequent maintenance for a total project length of five years. The project also includes the option to add AI-driven advanced traffic management systems at a later date.

Carolin Treichl, EVP EMEA at Kapsch TrafficCom, comments on the award: “We are proud that SRTA chose Kapsch TrafficCom. The new system increases traffic safety, improves air quality and potentially saves lives with incident detection, fire detection, and firefighting systems. We are looking forward to working with SRTA to deliver this important project.” Michael Weber, Head of Sales EMEA at Kapsch TrafficCom, adds: “This is an essential project for us that will allow us to grow our presence in the region. The technology we are deploying here is also used in other infrastructure projects in Europe and the USA to great success.”

Dr Mohsin Bin Balwan, Director of Traffic Engineering Department at SRTA, comments: “This project underscores our commitment to develop and maintain a robust transportation infrastructure that fosters the Emirate’s sustainable development and growth. By leveraging advanced technologies from global companies like Kapsch TrafficCom, SRTA aims to improve the quality of life for residents and visitors alike. This project marks a pivotal step towards Sharjah’s vision for AI driven and intelligent transport ecosystem solutions. The use of advanced artificial intelligence to monitor and respond to tunnel conditions in real-time significantly enhances public safety. These tunnels are set to become among the most intelligent and safe tunnel systems globally.”

Project details

The project involves the implementation and maintenance of various mechanical, electrical, and plumbing systems for five tunnels. Key systems include:

• Advanced Traffic Management System
• Tunnel Ventilation System
• Emergency Telephone System
• Backbone Communication Network System
• SCADA Integration System for real-time control
• CCTV System, Incident Detection, and interrelated analytics
• Lighting, Evacuation, and Fire Safety Systems
• Power supply and environmental utilities
• Server and XR-enabled control room facilities

The tunnels, among them the Al Multaqa tunnel which, at 2.7 kilometers is the longest covered tunnel in the Middle East, are essential for improving congestion, reducing travel time for trade and tourism, enhancing the air quality and ensuring reliability of the roadway infrastructure and driver safety.

More information: Press | Kapsch TrafficCom

Kapsch TrafficCom is a globally renowned provider of transportation solutions for sustainable mobility with successful projects in more than 50 countries. Innovative solutions in the application fields of tolling, tolling services, traffic management and demand management contribute to a healthy world without congestion.With one-stop-shop-solutions, the company covers the entire value chain of customers, from components to design and implementation to the operation of systems.Kapsch TrafficCom, headquartered in Vienna, has subsidiaries and branches in more than 25 countries and is listed in the Prime Market segment of the Vienna Stock Exchange (ticker symbol: KTCG). In its 2023/24 financial year, about 4,000 employees generated revenues of EUR 539 million.

Organizing Committee of the 2025 Fujian Global Innovation and Entrepreneurship Competition

XIAMEN, China, May 13, 2025 /Xinhua-AsiaNet/– The 2025 Fujian Global Innovation and Entrepreneurship Competition, hosted by the Fujian Provincial Party Committee’s Talent Work Leadership Office, started registration on May 10. In an effort to bring the best overseas professionals to the province and grow the strategic emerging industries, the event is geared up to welcome creative projects with great market potential.

The competition offers 3 first prizes, 6 second prizes, 15 third prizes, and several excellent awards, with cash awards of 150,000 yuan, 100,000 yuan, 50,000 yuan, and 20,000 yuan (pre-tax), respectively. Participants will compete in 3 categories: digital economy, biotechnology, and advanced manufacturing, showcasing the latest landscape in artificial intelligence, biomedicine, new energy, new materials, etc.

The competition consists of 4 stages: registration, review process, preliminary round, and final round. Participants are expected to submit materials on the official website ( www.fujiantalent.com ) from May 10 to July 10, 2025. The preliminary round will take place online in July when experts read materials and make decisions. The finalists will make pitch presentations offline in early September during the China International Fair for Investment & Trade (CIFIT) in Xiamen. The competition will culminate in an awards ceremony, followed by complementary activities including industry tours and investor networking sessions.

To encourage projects taking root in Fujian, the organizer will provide policy and financial support. First-prize winners can be recognized as Category B High-Level Talent, with a settlement subsidy of up to 1 million yuan. Second- and third-prize winners can be recognized as Category C High-Level Talent, with a settlement subsidy of up to 500,000 yuan. Moreover, projects may be included in the Hundred Talents Program for Entrepreneurship and eligible for subsidies of up to 2 million yuan.

Source: Organizing Committee of the 2025 Fujian Global Innovation and Entrepreneurship Competition

Publicity Department of the CPC Anshan Municipal Committee

ANSHAN, China, May 13, 2025 /Xinhua-AsiaNet/–

Many of New China’s industrial “firsts” were born in Anshan, Liaoning – the “Steel Capital” of China, the first bucket of molten steel, molten iron, and coke, the first seamless steel pipe, the first steel strip coil, etc.

Anshan is built on steel, with its soul shaped by the country’s industrial might. The Ansteel Museum, a top-tier national museum, showcases several of New China’s historic “firsts” achieved by Ansteel. Located right next to Ansteel Group’s main plant, the world’s largest single-site steel production base, it forms a unique industrial landscape. Today, it stands as both a cultural landmark and a popular social media destination in Anshan.

With rapid advances in science and technology, Ansteel has broken through research barriers and solved critical “bottleneck” challenges. From China’s high-speed Fuxing bullet trains to the offshore gas drilling platform Blue Whale 1, from the world’s longest sea bridge – the Hong Kong-Zhuhai-Macao Bridge – to China’s first aircraft carrier, the CNS Liaoning, Ansteel continues to serve as the backbone of national industry, reinforcing China’s strength with its “firstborn steel” pride.

Visit Anshan in May, where steel strength meets spring blossoms.

Qianshan Scenic Area, a perfect harmony of nature and culture, boasts over 260 renowned natural and cultural attractions. Legend says that its 999 interconnected peaks resemble a chain of emerald lotuses reaching for the sky, earning it the poetic name “Thousand-Lotus Mountain”. With over 95% vegetation coverage and exceptionally high negative oxygen ion levels, it has been honored as “China’s Natural Oxygen Bar” by the China Meteorological Service Association.

There a line that goes, “I envy not heavenly birds above, but revel in the delight of hot springs I love”. As a national 4A-level tourist attraction, Tanggangzi Hot Spring draws visitors with its top-quality mineral waters at an average temperature of 72 degrees centigrade.

This city blends fiery steel with soothing hot springs, strong yet tender at its core.

Source: Publicity Department of the CPC Anshan Municipal Committee

As China hosts the fourth ministerial meeting of the China-CELAC (Community of Latin American and Caribbean States) Forum in Beijing this Tuesday, CGTN publishes an article highlighting how China-CELAC cooperation is delivering tangible benefits to local communities. The article also underscores China’s sincere commitment to working hand in hand with CELAC countries on five major projects and advancing together on their respective paths to modernization.

BEIJING, May 13, 2025 (GLOBE NEWSWIRE) — Located in San Salvador, the National Library of El Salvador – a China-aided mega project – has become a modern cultural landmark in the capital city since its inauguration in late 2023.

Spanning 24,000 square meters, the library is open 24/7 and holds over 360,000 volumes. It serves multiple functions, including youth education, art exhibitions, cultural performances, and academic conferences.

The library is among more than 200 infrastructure projects China has supported in Latin American and the Caribbean (LAC) countries in recent years, which Chinese President Xi Jinping noted during his address at the opening ceremony of the fourth ministerial meeting of the China-CELAC (Community of Latin American and Caribbean States) Forum in Beijing on Tuesday.

Xi said those projects have helped create nearly one million local jobs.

Fundamental pursuit to benefit people
Noting that this year marks the 10th anniversary of the official launch of the China-CELAC Forum, Xi said he’s pleased to see the China-CELAC Forum grow from a seedling to a tall tree.

China and CELAC countries have built a community with a shared future, featuring equality and mutual benefits, upholding openness and inclusiveness, and aiming to bring tangible benefits for the people, Xi said.

Since 2012, China has been LAC’s second-largest trading partner and is now the top partner for Chile, Brazil, and Peru. It has signed free trade agreements with five LAC nations: Peru, Chile, Costa Rica, Ecuador, and Nicaragua.

As of 2024, bilateral trade reached $500 billion – a nearly 40-fold increase since 2000, according to Chinese Ambassador to Panama Xu Xueyuan.

So far, 23 LAC countries have signed memorandum of understanding (MoU) on the Belt and Road Initiative (BRI) with China, Xu said. Notable BRI projects include the Chancay Port – South America’s first smart and green port – and the Jamaica North-South Highway.

Inaugurated in November 2024, Chancay Port has cut Pacific shipping time by nearly one-third, lowered logistics costs by 20 percent, and is expected to create over 8,000 direct jobs. Such tangible cooperation has received strong local support. A CGTN poll of 2,500 Latin Americans found that 80.4 percent viewed the BRI as beneficial to regional economic and social development.

Since 1993, China has dispatched 38 medical teams to Caribbean nations, offering care and helping improve local medical capabilities. The same poll showed that 86.2 percent of respondents had a favorable impression of China.

Solidarity and further cooperation
At the gathering, Xi stressed the importance of Global South unity in face of rising unilateralism and protectionism.

China and LAC countries are important members of the Global South, Xi said, adding that “Independence and autonomy are our glorious traditions, development and rejuvenation are our natural rights, fairness and justice are our common pursuits.”

Facing the undercurrents of geopolitics and camp confrontation, as well as the growing countercurrents of unilateralism and protectionism, China is willing to join hands with CELAC countries to launch the five major projects, seek common development and rejuvenation, Xi said.

Detailing the major projects centering on solidarity, development, civilization, security and people-to-people exchanges, Xi called on China and Latin American and Caribbean countries to continue supporting each other on core interest issues and major concerns, maintain close exchanges in all fields, and jointly implement the China-proposed Global Development Initiative, Global Security Initiative and Global Civilization Initiative.

Xi announced that China will provide CELAC countries with a credit fund of 66 billion yuan (around $9.2 billion) to support their development. Additionally, over the next three years, China will offer 3,500 government scholarships, 10,000 training opportunities, 500 international Chinese language teacher scholarships, and 300 training spots for poverty reduction technologies.

China has decided to offer a visa-free policy to five countries in Latin America and the Caribbean, and will expand the policy to cover more regional countries in due course, said the Chinese president.

China’s recent modernization has boosted confidence in the region. A CGTN poll showed that 82.9 percent of respondents see China’s development model as a valuable reference for LAC countries.

Noting China has always been a good friend and partner of LAC countries, Xi called on China and LAC countries to join hands and move forward side by side on respective modernization journeys.

https://news.cgtn.com/news/2025-05-13/China-and-CELAC-usher-in-new-chapter-of-South-South-cooperation-1Dl5vaucHW8/p.html

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