Financial Data and Key Metrics Changes - In Q3 2025, JD Logistics achieved total revenue of RMB 155.08 billion, representing a year-over-year increase of 24.1% [23] - Non-GAAP profit was RMB 2.02 billion with a profit margin of 3.7%, while non-GAAP EBITDA was RMB 5.32 billion, a decrease of 7.1% year-over-year [31] - Employee benefit expenses rose to RMB 21.82 billion, up 49.8% year-over-year, primarily due to the addition of full-time food delivery riders [26] Business Line Data and Key Metrics Changes - Revenue from ISC customers totaled RMB 13.13 billion, up 45.8% year-over-year, with external ISC customer revenue at RMB 8.93 billion, increasing by 13.5% [24] - Average revenue per external ISC customer reached RMB 134,000, up 0.7% year-over-year [25] - Revenue from other customers, including express and freight delivery services, was RMB 24.95 billion, up 5.1% year-over-year [25] Market Data and Key Metrics Changes - The number of external ISC customers grew to approximately 67,000, reflecting a 12.7% year-over-year increase [24] - JD Logistics maintained a strong position in the logistics market, ranking among the top tier in China for cargo volume and revenue scale in freight delivery services [26] Company Strategy and Development Direction - The company is focused on enhancing its service capabilities and expanding its international business, with plans to double the gross floor area of overseas warehouses by the end of 2025 [13] - JD Logistics aims to deepen its presence in the ISV space, leveraging digital technology and operational management to improve service efficiency [8] - The company is committed to investing in automation and digital technologies to enhance operational efficiency and reduce costs [19] Management's Comments on Operating Environment and Future Outlook - Management noted that China's macroeconomy remained stable, supporting JD Logistics' growth [23] - The company expects economies of scale and improved resource utilization to enhance profitability as business volume increases during peak seasons [23] - Management expressed confidence in the long-term growth potential driven by strategic investments and operational improvements [33] Other Important Information - JD Logistics was rated as the strongest logistics brand in 2025 by Brand Finance, highlighting its international competitiveness [16] - The company has established multiple overseas warehouses in the Middle East, enhancing its global logistics capabilities [11] Q&A Session Summary Question: Comments on capital investment, efficiency, and cost regarding automation - Management highlighted the importance of balancing investment and return in automation, with plans to gradually upgrade investments based on real-life data [39] Question: Orders accepted per day and innovation in food delivery - Management discussed the integration of full-time riders and outsourced riders to enhance delivery capacities and improve service quality [42] Question: Plans for the overseas market - Management outlined goals for building a global network by the end of 2025, focusing on capacity building and reducing compliance costs for customers [46] Question: Core sector and capacity in ISC customers - Management acknowledged the need to improve the number of ISC customers and RPARC, emphasizing the importance of serving both key and small accounts [51]

Core Viewpoint - Nissin Foods Holdings is investing TL1.59 billion ($38.1 million) to establish a subsidiary in Turkey for noodle production, marking a strategic re-entry into the Turkish market with plans for regional expansion [1][2]. Group 1: Investment and Expansion - The investment will include the acquisition of a factory in Sakarya province, along with production equipment and fixed assets [2]. - The company aims to expand sales of instant noodles in Turkey and neighboring regions, including Central Asia, the Middle East, and North Africa [2]. Group 2: Strategic Goals - This initiative is part of Nissin Foods' mid-to-long-term strategy through to 2030, which aims to generate approximately 45% of its core operating profit from overseas markets [2]. - The company has already achieved its previous international growth goals and is committed to further strengthening its focus on international markets [3]. Group 3: Financial Performance - For the fiscal year ending March 31, Nissin Foods reported sales of Y776.5 billion ($5.2 billion), a 6% increase year-over-year [3]. - The core operating profit rose 3.6% to Y83.6 billion, while operating profit increased by 1.4% to Y74.4 billion [3]. - However, the company experienced a decline in key metrics in the first quarter of the new fiscal year, with sales down 4.3% to Y177 billion and core operating profit dropping 25.5% to Y17.4 billion [4].

Core Points - Vivos Inc. has authorized the formation of a wholly owned subsidiary in India named Vivos Scientific India LLP, and is in the process of obtaining formal approvals from the Indian government [1] - The establishment of the subsidiary reflects Vivos's long-term commitment to the Indian market, aiming to set up its first international manufacturing center for RadioGel and IsoPet, and to expand developmental animal testing and commercial treatments in India [2] - Vivos has initiated first-in-human trials in India and is pursuing additional approvals for expanded human trials from the Drug Controller General of India (DCGI), which are believed to support the IDE process with the FDA [2] Company Strategy - The company plans to include immediate post-treatment PET full-body scans in the next phase of human trials in India to validate the safety profile of RadioGel, based on feedback from the FDA [2]

Core Points - Vivos Inc. has received authorization to establish a wholly owned subsidiary in India named Vivos Scientific India LLP, and is in the process of obtaining formal approvals from the Indian government [1] - The establishment of the subsidiary reflects Vivos Inc.'s long-term commitment to the Indian market, aiming to set up an international manufacturing center for RadioGel and IsoPet, and to expand developmental animal testing and commercial treatments for humans and animals in India [2] - Vivos Inc. has initiated first-in-human trials in India and is pursuing approval from the Drug Controller General of India (DCGI) for expanded human trials, which are expected to support the IDE process with the FDA [2] Company Strategy - The company plans to include immediate post-treatment PET full-body scans in the next phase of human trials in India to validate the safety profile of RadioGel, based on feedback from the FDA [2]