Market Newsdesk

DELÉMONT, Switzerland, Sept. 21, 2026 (GLOBE NEWSWIRE) —

Proposed CHF 40-60 million public-private initiative aims to establish sovereign semiconductor personalization capabilities in Switzerland and create up to 250+ direct jobs in the Canton of Jura

SEALSQ Corp (NASDAQ: LAES) (“SEALSQ” or “Company”), a company that focuses on developing and selling Semiconductors, PKI, and Post-Quantum technology hardware and software products, its parent company, WISeKey International Holding Ltd (SIX: WIHN; NASDAQ: WKEY), (“WISeKey” or “the Company”) a global leader in cybersecurity, digital identity and IoT, and The Republic and Canton of Jura, Switzerland, today announced the signing of a Memorandum of Understanding (“MoU”) to collaborate on the establishment of a Post-Quantum Semiconductor and Cybersecurity Center (the “Jura Center”) in the Canton of Jura.

The proposed Jura Center represents an indicative investment of approximately CHF 40-60 million over a period of six years. The initiative is intended to establish a strategic Swiss capability for the design, personalization, testing and secure provisioning of next-generation post-quantum semiconductor technologies.

At the heart of the project will be SEALSQ’s QS7001 Quantum Shield, a secure semiconductor designed to implement post-quantum cryptographic algorithms standardized by the U.S. National Institute of Standards and Technology, including ML-KEM and ML-DSA.

The Jura Center is expected to establish capabilities for cryptographic root-of-trust injection, secure firmware personalization, testing and certification, complemented progressively by ASIC design capabilities.

Building a Swiss Sovereign Semiconductor Capability

The initiative is designed to combine SEALSQ and WISeKey’s cybersecurity and semiconductor technologies with the Canton of Jura’s longstanding expertise in precision manufacturing, microtechnology and high-quality industrial production.

The project seeks to transfer skills deeply rooted in Jura’s watchmaking and microtechnology industries – including precision, quality control and traceability – into secure semiconductor personalization.

The project aims to establish approximately 40 direct jobs within two years, 150 by Year 5 and more than 250 by Year 8. At least 60% of these positions are expected to be filled by residents of the Canton.

A Public-Private Partnership

The Jura Center is expected to be developed as a public-private partnership, with the majority of its financing coming from WISeKey, SEALSQ, private investors and industrial partners. The Canton of Jura would act as a strategic catalyst, facilitating the establishment of the project and evaluating potential support within the applicable cantonal and federal frameworks.

The parties will also explore cooperation with HE-Arc Ingénierie for training, recruitment and applied research and with relevant Swiss technology and industrial organizations.

Building on the Quantix Model

This initiative builds upon the experience of Quantix Edge Security, the EUR 40 million semiconductor design and personalization center being developed in Murcia, Spain, by WISeKey and SEALSQ with Spanish partners.

The Spanish Government, through the Sociedad Española de Transformación Tecnológica (SETT), committed EUR 19.6 million to that public-private initiative in June 2025. The Jura Center intends to adapt the experience and methodologies developed in Murcia to Switzerland’s specific industrial and sovereignty requirements.

Strategic Opportunity for Switzerland

The Center will also evaluate opportunities associated with Swiss defense procurement and armasuisse industrial participation programs, where secure semiconductor and ASIC capabilities established on Swiss territory could potentially provide an attractive platform for industrial offset projects.

Secure semiconductors and ASICs are increasingly relevant to avionics, secure communications, sensors and other defense systems, creating an opportunity to strengthen Switzerland’s domestic technological and industrial base.

Carlos Moreira, CEO of SEALSQ, said: “The quantum era is transforming cybersecurity into an issue of technological sovereignty. Switzerland must be able not only to design advanced security technologies, but also to personalize, provision and protect the cryptographic roots of trust inside semiconductors on Swiss soil. The Jura has an extraordinary industrial culture built around precision, reliability and microtechnology. Our ambition is to combine this industrial DNA with SEALSQ’s post-quantum semiconductor technology and create a new strategic capability for Switzerland. We are already applying this model in Murcia, where the initiative generated initial revenue during the second quarter of 2026. Based on this early commercial progress, believe the Jura Center can become an important European center for post-quantum semiconductor security, creating highly qualified employment, strengthening the regional technology ecosystem while reinforcing Switzerland’s technological sovereignty.”

Stéphane Theurillat, Minister of Economy of the Canton of Jura added, “This partnership marks an important milestone for Jura and sends a strong signal about our ambition to attract and develop strategic investments. The project combines digital infrastructure with Jura’s strong industrial capabilities and will contribute to further diversifying our economy. It also represents a significant opportunity to strengthen digital sovereignty while creating value and new business opportunities within our regional ecosystem. The Government of the Republic and Canton of Jura strongly welcomes this announcement and is fully committed to supporting the project. Together with the relevant authorities and services, we will work closely with the company to facilitate a fast and successful establishment in Jura and create the conditions for its long-term development.”

Next Steps

Following the MoU, the parties intend to establish a joint working group to develop the detailed business plan, select the site, structure the public-private financing model, develop academic and industrial partnerships, evaluate Swiss federal and armasuisse opportunities, and establish the regulatory and certification roadmap.

The concept envisages the Center operating through a Swiss company incorporated in the Canton of Jura, supported by an appropriate public-private governance structure.

Upon completion of this preparatory work, the Parties intend to move from the MoU to a detailed implementation framework governing the establishment, financing and operation of the Jura Center..

About WISeKey

WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA, which specializes in RoT and PKI solutions for secure authentication and identification in IoT, blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and houses the development of the SEALCOIN platform.

Each subsidiary contributes to WISeKey’s mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey’s strategic direction and its subsidiary companies, please visit www.wisekey.com.

About SEALSQ:

SEALSQ is a leading innovator in Post-Quantum Technology hardware and software solutions. Our technology seamlessly integrates Semiconductors, PKI (Public Key Infrastructure), and Provisioning Services, with a strategic emphasis on developing state-of-the-art Quantum Resistant Cryptography and Semiconductors designed to address the urgent security challenges posed by quantum computing. As quantum computers advance, traditional cryptographic methods like RSA and Elliptic Curve Cryptography (ECC) are increasingly vulnerable.

SEALSQ is pioneering the development of Post-Quantum Semiconductors that provide robust, future-proof protection for sensitive data across a wide range of applications, including Multi-Factor Authentication tokens, Smart Energy, Medical and Healthcare Systems, Defense, IT Network Infrastructure, Automotive, and Industrial Automation and Control Systems. By embedding Post-Quantum Cryptography into our semiconductor solutions, SEALSQ ensures that organizations stay protected against quantum threats. Our products are engineered to safeguard critical systems, enhancing resilience and security across diverse industries.

For more information on our Post-Quantum Semiconductors and security solutions, please visit www.sealsq.com.

Forward-Looking Statements

This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipate will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include SEALSQ’s ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; and the risks discussed in SEALSQ’s filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC.

SEALSQ Corp is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

SEALSQ Corp. Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 [email protected]

SEALSQ Investor Relations (US) The Equity Group Inc. Lena Cati Tel: +1 212 836-9611 [email protected]

• Transformational merger reinforces Telix’s long-term growth strategy as a vertically integrated radiopharmaceutical company with enhanced capabilities across development, isotope production and global manufacturing, underpinned by commercial excellence and the industry’s most extensive therapeutic pipeline.
• ITM is the world’s leading supplier of therapeutic radioisotopes, with broad capabilities spanning lutetium-177 (¹⁷⁷Lu), actinium-225 (²²⁵Ac) and terbium-161 (¹⁶¹Tb) production.
• ITM is the only producer of globally scaled commercial-grade ¹⁷⁷Lu and serves as a key supplier for both commercially available and future therapeutic radiopharmaceuticals.
• ITM’s commercial-scale and profitable isotope production business significantly contributes to cash generation while deepening Telix’s supply chain for isotopes required for its therapeutics pipeline.
• ITM’s complementary pipeline includes ITM-11 (¹⁷⁷Lu-edotreotide), a novel therapeutic candidate for the treatment of gastroenteropancreatic neuroendocrine tumors (GEP-NETs), which has successfully completed Phase 3 development, potentially accelerating Telix’s entry into a validated commercial market for targeted radionuclide therapy (TRT).
• Upfront consideration of US$1.65 billion on a cash-free/debt-free basis. After adjustments, ITM Shareholders are expected to be paid approximately US$1.25 billion in Telix Shares at US$11.84¹ per share, released as Nasdaq ADRs after the respective escrow periods.
• Additional contingent consideration of up to US$700 million upon achievement of future regulatory approvals and commercial sales milestones for ITM-11.
• The transaction is subject to Telix Shareholder approval and other customary closing conditions.

MELBOURNE, Australia and INDIANAPOLIS and MUNICH, Sept. 21, 2026 (GLOBE NEWSWIRE) — Telix Pharmaceuticals Limited (ASX: TLX, NASDAQ: TLX, “Telix”) today announces it has signed a strategic agreement to lead a merger with ITM Isotope Technologies Munich SE (“ITM”), a global leader in radioisotope production and radiopharmaceutical development.

The merger will further strengthen Telix’s leadership as a vertically integrated radiopharmaceutical company with the capabilities required to develop, manufacture and deliver innovative treatments to patients globally. The combined organization will be uniquely positioned as a radiopharmaceutical industry leader, differentiated by a world-class scaled isotope manufacturing business with a validated global distribution network, a market-leading commercial precision medicine platform and the industry’s most extensive therapeutic radiopharmaceutical pipeline.

Founded in 2004, ITM is a private company with a leading commercial scale radioisotope manufacturing and global distribution network spanning over 65 countries. ITM is a key supplier of ¹⁷⁷Lu and – with a compound annual growth rate (CAGR) of 40% from 2021 to 2025 – delivered annual revenue of US$273 million in 2025². This commercial momentum is underpinned by increasing global demand for TRT and radioisotopes for commercially approved products and assets under clinical development. The global nuclear medicine market is forecast to reach US$41 billion by 2034³.

ITM’s late-stage novel pipeline is complementary to Telix and includes ITM-11 (¹⁷⁷Lu-edotreotide), a differentiated somatostatin receptor (SSTR)-targeted treatment for GEP-NETs. ITM-11 has completed a successful Phase 3 trial (COMPETE, NCT03049189)⁴ and fully enrolled a second indication expansion Phase 3 study (COMPOSE, NCT04919226) with an interim analysis expected in H1 2027. If approved, ITM-11 has the potential to accelerate Telix’s entry into the commercial therapeutic market and expand its presence in neuroendocrine tumors, a commercially validated and clinically significant market for TRT.

The combined organization is expected to generate unaudited pro forma 2026 revenue and income exceeding US$1.3 billion⁵, based on management estimates. ITM’s radioisotope manufacturing business is profitable and generates cash flow. Continued growth from manufacturing, cost savings and further targeted synergies and pipeline optimization are expected to support a positive EBITDA⁶ contribution in 2027⁷ and onward. If approved by health regulators, the launch of ITM-11 is expected to drive further upside, with the potential to generate additional high-margin therapeutic revenue in the near term.

Telix Managing Director and Group CEO, Dr. Christian Behrenbruch, said, “This merger positions Telix at the forefront of the consolidation that is occurring as the industry matures. ITM is the leader in radioisotope production, with deep scientific expertise and a track record of value-adding innovation. We have enjoyed a close working relationship with ITM for many years and there is strong management alignment for the rationale behind this transaction. By combining our complementary strengths, we will create a company with commercial scale, world-leading supply and the most exciting theranostic drug portfolio in the sector. Importantly, this combination further expands our late-stage therapeutic pipeline with two completed Phase 3 trials and deepens radioisotope security, while bringing together the mission-critical capabilities needed to deliver radiopharmaceutical treatments to patients around the world.”

ITM Chief Executive Officer, Dr. Andrew Cavey, added, “Joining two radiopharmaceutical pioneers creates a company with unmatched breadth and depth across the value chain, supported by deep expertise and talent. Our management teams have a track record of working together and a nuanced understanding of our respective commercial strengths and customer relationships. Together, we believe Telix and ITM will be uniquely positioned to capitalize on rapidly growing global demand for radiopharmaceuticals to the benefit of both shareholders and patients.”

Deal Terms

Under the terms of the agreement and subject to Shareholder approval, Telix will acquire 100% of the shares in ITM for US$1.65 billion upfront on a cash-free/debt-free basis expected as follows:

• US$1.25 billion will be paid to the sellers in the form of 105.8 million Telix shares (priced at the 30-day trailing VWAP as of signing of US$11.84¹) and released to the sellers as Nasdaq-listed ADRs at the end of their respective escrow periods;
• US$302 million of net debt will be assumed by Telix at closing; and
• US$96 million of management equity rollover and transaction expenses payable by the sellers⁸; and in each case subject to closing adjustments.

Additional contingent consideration of up to US$700 million will become payable upon the achievement of specified regulatory approvals and sales milestones for ITM-11 as set out below:

• Up to US$250 million upon U.S. Food and Drug Administration (FDA) approval of ITM-11 across three different indications:
  • US$100 million upon FDA approval for expected first indication in G1-G2 GEP-NETs no later than December 31, 2027;
  • US$100 million upon FDA approval for G2-G3 GEP-NETs indication no later than December 31, 2030; and
  • US$50 million upon FDA approval for Lung NETs indication no later than December 31, 2031; and
• Up to US$450 million based on ITM-11 net global sales in FY 2030 in excess of US$150 million.

All milestone consideration will be payable in cash or Shares⁹ at Telix’s election¹⁰. Consideration paid to ITM Shareholders at closing is subject to financial adjustments at closing, indemnity holdbacks, and escrow (lockup) restrictions on the Shares issued at closing of up to 15 months which may be waived in limited part to allow the sellers to pay their tax and transaction expense liabilities.

Upon completion of the transaction, Telix Shareholders will own approximately 76.3% and ITM Shareholders will own approximately 23.7% of Telix shares on issue. The transaction has been approved by Telix’s Board of Directors and, as of signing, Shareholders holding over 90%¹¹ of ITM’s Shares. The transaction is expected to close by the end of FY 2026 subject to Telix Shareholder approval as required under the ASX Listing Rules, regulatory approvals, and other customary closing conditions.

Refer to the Investor Presentation lodged today with the ASX for further information on the transaction.

A Notice of Meeting will be sent to Telix Shareholders for an extraordinary general meeting expected to be held in November 2026.

Advisors

Morgan Stanley Australia Limited acted as exclusive financial advisor to Telix. Sidley Austin LLP and Herbert Smith Freehills Kramer LLP acted as legal counsel to Telix. Centerview Partners acted as exclusive financial advisor to ITM. Latham & Watkins LLP acted as legal counsel to ITM.

About ITM Isotope Technologies Munich SE

ITM, a leading radiopharmaceutical biotech company, is dedicated to providing a new generation of radiopharmaceutical therapeutics and diagnostics for hard-to-treat tumors. The company aims to meet the needs of cancer patients, clinicians, and partners through excellence in development, production, and global supply of medical radioisotopes. With improved patient benefit as the driving principle for all it does, ITM advances a broad precision oncology pipeline, including multiple Phase 3 studies, combining the company’s high-quality radioisotopes with a range of targeting molecules. By leveraging two decades of pioneering radiopharma expertise, its respected industry position and its established global network, ITM strives to provide patients with more effective targeted treatment to improve clinical outcomes and quality of life.

ITM is headquartered in Munich, Germany with two GMP manufacturing sites and a global distribution network spanning 65 countries. Through its agreement with Isogen, ITM has 15-year exclusive access to Bruce Power’s nuclear reactors in Canada for the irradiation services required to manufacture ¹⁷⁷Lu. For further information, visit: www.itm-radiopharma.com

About
Telix Pharmaceuticals Limited

Telix Pharmaceuticals (ASX: TLX, NASDAQ: TLX) is a commercial-stage global radiopharmaceutical company, advancing targeted theranostics to improve outcomes for people with cancer across the patient journey. Theranostics pairs a precision diagnostic with a targeted therapy to both diagnose and treat disease.

Telix’s commercial franchise is anchored by its precision diagnostics portfolio: Illuccix® (kit for the preparation of gallium-68 gozetotide injection), commercially available in 22 countries including the U.S., and Gozellix® (kit for the preparation of gallium-68 gozetotide injection), approved by the U.S. Food and Drug Administration (FDA) for prostate imaging, and Pixclara® (floretyrosine F 18) approved by the FDA for glioma imaging. The Company’s late-stage therapeutic pipeline includes three investigational assets in pivotal-stage trials: TLX591-Tx (lutetium-177 (¹⁷⁷Lu) rosopatamab tetraxetan) in prostate cancer, TLX101-Tx (iodofalan ¹³¹I) in recurrent glioblastoma, and TLX250-Tx (lutetium (¹⁷⁷Lu) girentuximab tetraxetan) in kidney cancer, additionally complemented by a deep pipeline of next generation candidates. TLX591-Tx, TLX101-Tx and TLX250-Tx have not received marketing authorizations in any jurisdiction.

Telix is headquartered in Melbourne, Australia, with operations across North America, Europe, Latin America and Asia-Pacific. For more information, visit www.telixpharma.com or follow Telix on LinkedIn, X and Facebook.

Investor Relations	Media
Annie Kasparian [email protected]	Eliza Schleifstein [email protected]
Charlene Jaw [email protected]	Kathleen Noonan [email protected]
Benedikt Orzelek [email protected]

This announcement has been authorized for release by the Telix Pharmaceuticals Limited Disclosure Committee on behalf of the Board.

Legal Notices

Cautionary Statement Regarding Forward-Looking Statements.

You should read this announcement together with our risk factors, as disclosed in our most recently filed reports with the Australian Securities Exchange (ASX), U.S. Securities and Exchange Commission (SEC), including our Annual Report on Form 20-F filed with the SEC, or on our website.

The information contained in this announcement is not intended to be an offer for subscription, invitation or recommendation with respect to securities of Telix Pharmaceuticals Limited (Telix) in any jurisdiction, including the United States. The information and opinions contained in this announcement are subject to change without notification. To the maximum extent permitted by law, Telix and ITM disclaim any obligation or undertaking to update or revise any information or opinions contained in this announcement, including any forward-looking statements (as referred to below), whether as a result of new information, future developments, a change in expectations or assumptions, or otherwise. No representation or warranty, express or implied, is made in relation to the accuracy or completeness of the information contained or opinions expressed in the course of this announcement.

This announcement may contain forward-looking statements, including within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that relate to anticipated future events, financial performance, plans, strategies or business developments. Forward-looking statements can generally be identified by the use of words such as “may”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “outlook”, “forecast” and “guidance”, or the negative of these words or other similar terms or expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Telix or ITM’s actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements are based on Telix’s and, as applicable, ITM’s good-faith assumptions as to the financial, market, regulatory and other risks and considerations that exist and affect Telix or ITM’s respective businesses and operations in the future and there can be no assurance that any of the assumptions will prove to be correct. In the context of Telix and ITM’s respective businesses, forward-looking statements may include, but are not limited to, statements about: the initiation, timing, progress, completion and results of preclinical and clinical trials, and research and development programs; ability to advance product candidates into, enroll and successfully complete, clinical studies, including multi-national clinical trials; the timing or likelihood of regulatory filings and approvals for product candidates, including the planned NDA resubmission for ITM-11 and the planned BLA resubmission for TLX250-Px, manufacturing activities and product marketing activities; sales, marketing and distribution and manufacturing capabilities and strategies; the commercialization of product candidates, if or when they have been approved; the parties’ ability to obtain an adequate supply of raw materials at reasonable costs for their respective products and product candidates; estimates of expenses, future revenues and capital requirements; the parties’ financial performance; developments relating to the parties’ respective competitors and industry; the anticipated impact of U.S. and foreign tariffs and other macroeconomic conditions on the parties’ respective businesses, including as a result of war or other geopolitical conflicts; and the pricing and reimbursement of the parties’ product candidates, if and after they have been approved. Telix or ITM’s actual results, performance or achievements may be materially different from those which may be expressed or implied by such statements, and the differences may be adverse. Accordingly, you should not place undue reliance on these forward-looking statements.

Trademarks and Trade Names. All trademarks and trade names referenced in this press release are the property of Telix Pharmaceuticals Limited (Telix) or, where applicable, the property of ITM or their respective owners. For convenience, trademarks and trade names may appear without the ® or ™ symbols. Such omissions are not intended to indicate any waiver of rights by Telix, ITM or the respective owners. Trademark registration status may vary from country to country. Telix and ITM do not intend the use or display of any third-party trademarks or trade names to imply any affiliation with, endorsement by, or sponsorship from those third parties.

©2026 Telix Pharmaceuticals Limited and ITM Isotope Technologies Munich SE. All rights reserved.

                                  

¹ Based on the 30-day trailing VWAP on the ASX prior to signing of A$16.65, converted at an AUD/USD exchange rate of 0.71.
² ITM audited financial statements (2025).
³ MEDraysintell Current Landscape of the Nuclear Medicine Market, 2025 edition.
⁴ Walter T, et al. The Lancet, July 2, 2026.
⁵ Refer to slide 20 of the Investor Presentation released by Telix to the ASX in conjunction with this announcement.
⁶ Earnings before interest, tax, depreciation and amortization.
⁷ Subject to the realization of targeted synergies and commercial timing assumptions. Excludes one-off implementation costs.
⁸ Sellers may allocate and sell some of the Telix Shares deducted from closing consideration to settle a portion of these transaction expenses.
⁹ Priced and settled at the 30-day trailing VWAP prior to milestone achievement and converted to Nasdaq ADRs.
¹⁰ Telix will seek Shareholder approval for the issue of Shares for the milestone payments based on Telix share price at signing.
¹¹ Remaining ITM shareholders expected to sign Joinder Agreements to the Share Purchase Agreement prior to closing.

SHANGHAI, China, Sept. 20, 2026 (GLOBE NEWSWIRE) — Qfin Holdings, Inc. (NASDAQ: QFIN; HKEx: 3660) (“Qfin Holdings” or the “Company”), a leading AI-empowered Credit-Tech platform in China, today announced changes in its senior management and the composition of its board of directors (the “Board”). In light of the growth and potential of the Company’s international business and its long-term strategic development, Mr. Haisheng Wu, the chief executive officer and a director of the Company, intends to focus more of his time on the development of the Company’s international business. In order to dedicate his attention to this area, Mr. Wu will step down as the chief executive officer and a director of the Company and will cease to be a member of the compensation committee of the Board.

The Board has approved the appointment of Mr. Yan Zheng as the chief executive officer and a director of the Company, succeeding Mr. Wu, effective September 21, 2026.

Prior to his appointment as the chief executive officer, Mr. Zheng served as the Company’s vice president from February 2017 and as its chief risk officer from July 2020. Mr. Zheng has 18 years of experience in consumer finance risk management. Before joining the Company, Mr. Zheng co-founded Shenzhen Samoyed Internet Finance Service Co. Ltd. in May 2015, and was in charge of its credit product risk management. Prior to that, Mr. Zheng worked at the risk management department at the headquarters of China Merchants Bank (Shanghai Stock Exchange: 600036) from November 2014 to April 2015 and was responsible for the preparation and establishment of China Merchants Union Consumer Finance Company Limited. Prior to that, Mr. Zheng worked at the risk management department of the Credit Card Center of China Merchants Bank from July 2008 to October 2014, primarily responsible for the consumer credit policies, credit limits and the preparation and establishment of China Merchants Union Consumer Finance Company Limited. Mr. Zheng received his bachelor’s degree in quantitative economics (Chinese-foreign) from Shanghai University of Finance and Economics in 2008 and his EMBA degree from Fudan University in 2025.

“Mr. Wu has made an invaluable contribution to the Company since the inception of our business and throughout his tenure as chief executive officer. On behalf of the Board, I would like to express our sincere gratitude to Mr. Wu for his leadership and dedication during his years of service. We are pleased that Mr. Wu will stay with the Company and focus on our international expansion, and he will work closely with Mr. Zheng to ensure a smooth transition of responsibilities. We are confident that Mr. Wu’s experience and insight will continue to provide valuable input to the Company’s long-term development,” said Mr. Fan Zhao, chairman of the Board. “We are delighted to welcome Mr. Zheng to the Board and appoint him as the Company’s chief executive officer. Mr. Zheng has 18 years of experience in consumer finance risk management, and we are confident that he will lead the Company into a new stage of business development. We look forward to working closely with him in maximizing long-term value for all of our shareholders.”

About Qfin Holdings

Qfin Holdings is a leading AI-empowered Credit-Tech platform in China. By leveraging its sophisticated machine learning models and data analytics capabilities, the Company provides a comprehensive suite of technology services to assist financial institutions and consumers and SMEs in the loan lifecycle, ranging from borrower acquisition, preliminary credit assessment, fund matching and post-facilitation services. The Company is dedicated to making credit services more accessible and personalized to consumers and SMEs through Credit-Tech services to financial institutions.

For more information, please visit: https://ir.qfin.com.

Safe Harbor Statement

Any forward-looking statements contained in this announcement are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. Qfin Holdings may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in announcements made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, which factors include but not limited to the following: the Company’s growth strategies, changes in laws, rules and regulatory environments, the recognition of the Company’s brand, market acceptance of the Company’s products and services, trends and developments in the credit-tech industry, governmental policies relating to the credit-tech industry, general economic conditions in China and around the globe, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks and uncertainties is included in Qfin Holdings’ filings with the SEC and announcements on the website of the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and Qfin Holdings does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For more information, please contact:
Qfin Holdings
E-mail: [email protected]

SAXONBURG, Pa., Sept. 20, 2026 (GLOBE NEWSWIRE) — Coherent Corp. (NYSE: COHR), the global leader in photonics, today announced new optical technologies and live demonstrations designed to help customers scale AI infrastructure at the European Conference on Optical Communication (ECOC) 2026 in Málaga, Spain.

At Stand 2100, Hall 2, Coherent will showcase innovations spanning AI datacenter connectivity, co-packaged optics (CPO) and near-packaged optics (NPO), next-generation pluggable transceivers, optical transport, specialty fibers, optical circuit switching, advanced materials, and thermal management addressing rising power density.

PhotonLink™, a new integrated optics platforms which brings together Coherent’s critical optical technologies and integration capabilities to support CPO, NPO and emerging chip to chip connectivity. The platform combines components and complete optical assemblies with manufacturing at scale. Additional details about PhotonLink will be announced separately.

“Scaling AI infrastructure requires more than bandwidth – it requires solving power, integration and thermal challenges together,” said Dr. Sanjai Parthasarathi, Chief Marketing Officer at Coherent. “At ECOC, we are demonstrating how Coherent’s expertise across materials, components and optical systems helps customers address those challenges – from connections near compute to links between datacenters.”

FEATURED TECHNOLOGY DEMONSTRATIONS

Coherent’s demonstrations illustrate how its vertical integration across materials, devices, components, modules and systems supports different AI connectivity architectures including scale-across, scale-out, scale-up and chip to chip. Highlights include:

3.2T 2xDR4 Transceiver in an OSFP-Size Package


Coherent will demonstrate a compact 3.2T pluggable architecture with dual 1.6T optical paths in an OSFP-size package. The technology demonstration incorporates eight 425G PAM4 line-side optical lanes, Coherent Differential EMLs and Coherent photodiodes, highlighting progress toward next-generation 400G-per-lane optical connectivity.

6.4T NPO Optical Engine


A 6.4T NPO demonstration will showcase a compact and power-efficient optical engine for high-density AI Scale-Up and Scale-Out fabrics. The demonstration brings together silicon photonics, fiber attach technology, ELSFPs, and Coherent laser technology to illustrate the advantages of vertical integration across critical optical interfaces.

VCSEL-Based Optics for AI Scale-Up


Coherent will demonstrate high-density 2D VCSEL and photodiode arrays for highly parallel optical architectures in CPO and NPO low latency connectivity.

Full C-Band Pluggable Optical Line System


For DCI and Scale-Across applications, Coherent will showcase its LS200 full C-band pluggable optical line system for datacenter interconnect and transport applications. The compact architecture brings pluggable line-system functionality closer to the router or switch while supporting flexible point-to-point optical transport.

OPTICAL COMPONENTS, ASSEMBLIES AND MODULES

Coherent will also showcase new products and emerging technologies across its optical networking portfolio, including:

• FlexConnect
  
  A detachable fiber array unit connector for CPO applications designed to simplify assembly and maintenance, with repeatable plug-unplug performance, interchangeability and an epoxy-free optical path compatible with high-power lasers.

• OptiAlign
  
  A high-precision fiber array unit for CPO applications designed to support precise pitch control and high fiber-channel counts. Coherent combines an internally developed V-groove with customized fiber dimensions to address demanding optical alignment requirements.

• OptiFocus
  
  A two-in-one coupling lens design for ELS, intended to simplify optical assembly while providing high coupling efficiency.

• FiberPack
  
  A passive fiber assembly kit for scale-up and scale-out architectures that integrates fiber attach, micro-lens, tray, and termination technologies, drawing on Coherent’s vertically integrated optical-components manufacturing.

• OptiPolar Array X
  
  A multi-channel Polarization Beam Splitter Array in a super-compact form factor based on glass material optimized for multi-lane systems.

• 2D micro-VCSEL and PD array
  
  High Density 2D Array of individually addressable emitters and PD array with integrated lenses designed for flip chip bonding in NPO or CPO architectures.

• Specialty Fibers
  
  Tight geometry-controlled Polarization Maintaining Fiber; Mode-Matched Fiber for improved coupling efficiency into edge-coupled silicon photonics; and multi-core fiber for high-density AI datacenter solutions.

• Ultra-High-Power (UHP) CW laser
  
  Enabled by a proprietary design and advanced manufacturing processes, this ultra-high-power continuous-wave (CW) laser delivers high spectral stability, narrow linewidth, and low relative intensity noise (RIN) across its full operating range.

• Pluggable Optical Line System (POLS)
  
  A full C-band optical line system with a high-power, variable-gain amplifier in a compact QSFP form factor. Designed for 800G ZR/ZR+ digital coherent optics, it supports up to 32 DWDM wavelengths over a single fiber pair, carrying up to 25.6Tbps across links from 2km to 200km.

THERMAL MANAGEMENT FOR HIGH DENSITY AI INFRASTRUCTURE

Coherent will also showcase Thermadite™ materials, diamond-based solutions and other advanced materials and components designed to address the growing power density and cooling requirements of AI infrastructure.

PARTNER AND QUANTUM TECHNOLOGY DEMONSTRATIONS

Coherent will participate in OIF interoperability and, separately, demonstrate quantum technologies for networking and encryption applications with industry partners.

With Quside, Coherent will demonstrate quantum random number generation for encryption applications using live quantum entropy alongside Coherent optical connectivity. With CUbIQ, Coherent will participate in a quantum key distribution demonstration in a compact pluggable architecture.

INDUSTRY THOUGHT LEADERSHIP AT ECOC 2026

Coherent executives and technology experts will contribute to Market Focus sessions and the ECOC technical program, covering AI datacenter infrastructure, CPO, optical interconnect scaling, advanced materials, coherent-lite optics and satellite connectivity.

MARKET FOCUS

Monday, September 21, 2026

Cooling Smarter: How Advanced Materials Unlock Datacenter Efficiency
Speaker: Dr. Sanjai Parthasarathi
11:40 a.m. – 11:55 a.m.

Panel: Modules and Subsystems
Co-Chair: Dr. Sanjai Parthasarathi
1:00 p.m. – 5:00 p.m.

Beyond 1.6T: Enabling AI Datacenter Scale with Coherent-Lite Optics
Speaker: Shawn Esser
3:20 p.m. – 3:35 p.m.

Tuesday, September 22, 2026

Scaling the Optical Future: Technologies Enabling Scale-Up, Scale-Out, and Scale-Across AI Infrastructure
Speaker: Dr. Julie Sheridan Eng
10:00 a.m. – 10:15 a.m.

Co-Packaged Optics: From Industry Promise to Reality
Speaker: Justin Abbott
11:00 a.m. – 11:15 a.m.

Fireside Chat on the Increasing Role of Photonics in Next-Generation AI/ML Interconnects
Speaker: Dr. Giovanni Barbarossa
1:00 p.m. – 1:55 p.m.

Panel: Realistic Check of AI Interconnect Scaling Solutions for the Post-1.6T Era
Panelist: Dr. Sanjai Parthasarathi
4:00 p.m. – 5:00 p.m.

Wednesday, September 23, 2026

Scaling Ground Station Connectivity for Satellite Constellations
Speaker: Jessica Wang
10:20 a.m. – 10:35 a.m.

ECOC CONFERENCE

Sunday, September 20, 2026

Workshop: “Light Sources for Next-Generation Optical Communication Systems for AI Datacenters”
Organizer: Dr. Wilfried Maineult
9:00 a.m. – 12:30 p.m.

Workshop: “Hybrid Solutions for Very High Speed PON – the best (or worst) of coherent and IMDD worlds”
Speaker: Dr. Noriaki Kaneda
2:45 p.m. – 3:00 p.m.

Workshop: “Can Fast Narrow Channels Keep Rising Without Limit or Will Slow and Wide Become the Winner?”
Speaker: Dr. Chris Kocot
4:30 p.m. – 4:42 p.m.

Wednesday, September 23, 2026

Poster Presentation: “PAM4 448 Gb/s per Lane InP MZM-SOA Array PIC for Next-Generation CPO”
Speaker: Dr. Anna Tatarczak
3:30 p.m. – 5:00 p.m.

Public Presentation: “2.3 Tbit/s Backside-Emitting 1060 nm VCSEL Array on Silicon Interposer for CPO Applications”
Speaker: Dr. Marc Ganzhorn
5:00 p.m. – 5:15 p.m.

Thursday, September 24, 2026

Technical Session: “Novel Modulators: Discrete Photonic Devices and Technologies”
Chair: Dr. Wilfried Maineult
9:00 a.m. – 10:30 a.m.

Visitors to ECOC 2026 can experience Coherent’s latest optical networking technologies and meet with company experts at Stand 2100, Hall 2, at FYCMA – Trade Fair & Congress Center in Málaga, September 21-23, to explore the demonstrations and discuss optical connectivity and break-through technologies.

For more information, visit www.coherent.com.

About Coherent 
Coherent is the global photonics leader. We harness photons to drive innovation. Industry leaders in the datacenter, communications, and industrial markets rely on Coherent’s world-leading technology to fuel their own innovation and growth. Founded in 1971 and operating in more than 20 countries, Coherent brings the industry’s broadest, deepest technology stack; unmatched supply chain resilience; and global scale to help its customers solve their toughest technology challenges.

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