PolyU signs tripartite MoU with Dassault Systèmes and PAIEvo in Paris to advance cross-continental collaboration in research innovation

HONG KONG SAR - Media OutReach Newswire - 13 July 2026 - The Hong Kong Polytechnic University (PolyU) has signed a tripartite strategic Memorandum of Understanding (MoU) in Paris with globally renowned Dassault Systèmes and PAIEvo (HK) Limited (PAIEvo), a fully owned subsidiary of XtalPi Holdings Limited (XtalPi) listed in Hong Kong, to jointly promote collaboration in research innovation and talent development. This partnership marks an important milestone in PolyU's development and underscores the University's active role in fostering cross-continental collaboration to advance innovation and technology in Hong Kong, the Nation and the world. It also highlights the University's international strategy to develop overseas innovation and entrepreneurship hubs, with Paris as its first foothold in Europe.

Prof. Christopher Chao, Senior Vice President (Research and Innovation) of PolyU (3rd from left); Mr Nicolas Jeannée, Vice President 3DEXPERIENCE Edu of Dassault Systèmes (centre); Dr Kevin Tsai, Vice President of XtalPi and CEO of PAIEvo (3rd from right); Prof. Zijian Zheng, Vice President (Knowledge Transfer) of PolyU (2nd from left); Ms Joanne Li, 3DEXPERIENCE Edu Sales Director of China, Dassault Systèmes (2nd from right); Ms Ruyu Wang, Senior Director of External Affairs and Communications of XtalPi (1st from right); and Ms Amylia Chan, Interim Director of Knowledge Transfer and Entrepreneurship, PolyU (1st from left) posed for a group photo at the MoU signing ceremony.

The signing ceremony was held earlier at Dassault Systèmes' Paris-area headquarters. Witnessed by Prof. Christopher CHAO, Senior Vice President (Research and Innovation) of PolyU; Mr Nicolas JEANNEE, Vice President 3DEXPERIENCE Edu of Dassault Systèmes; and Dr Kevin TSAI, Vice President of XtalPi and CEO of PAIEvo, the MoU was signed by Prof. Zijian ZHENG, Vice President (Knowledge Transfer) of PolyU; Ms Joanne LI, 3DEXPERIENCE Edu Sales Director of China, Dassault Systèmes;and Ms Ruyu WANG, Senior Director of External Affairs and Communications of XtalPi.

Under the collaborative framework, the three parties will jointly pursue a range of initiatives, including advancing the digitalisation of smart laboratories, expanding research and development (R&D) in new materials, developing proprietary computing capabilities and molecular simulation tools, building an ecosystem for new substance discovery, and nurturing relevant professional talent.

Prof. Christopher Chao remarked, "PolyU has been strengthening its research and knowledge transfer strategy in recent years, from establishing a robust network of Mainland Translational Research Institutes (MTRIs), setting up the incubation centres, InnoHubs, across Hong Kong and the Chinese Mainland, to progressively expanding our global footprint by building overseas innovation hubs, with Paris serving as our first stop in Europe. Meanwhile, we proactively align our research with industry demands, with market-oriented innovation at its core. This is the foundation of our close partnership with Dassault Systèmes. By bringing together the distinctive strengths of the three parties, this partnership enables us to fully leverage cross-sector and cross-border synergies among academia, research and industry. It will not only advance our respective development but also bring tangible benefits to society."

Welcoming the delegations, Mr Nicolas Jeannée described the meeting as "highly meaningful". He said, "This partnership connects not only Hong Kong and France, but also academia and industry. From the establishment of the Center of Excellence in 2025 to Dassault Systèmes' official presence in Hong Kong in 2026, our collaboration with PolyU has continued to reach new heights. We look forward to working closely with our partners to generate more innovative outcomes and contribute to global digital transformation."

Dr Kevin Tsai stated, "This strategic collaboration, formed through our subsidiary PAIEvo with Dassault Systèmes and PolyU, marks another important step for XtalPi's journey toward the 'Lab of the Future'. By integrating the strengths of the three parties in intelligent decision-making and Physical AI, virtual twin modelling, and cross-disciplinary academic research, we aim to accelerate the development of a self-learning closed loop encompassing intelligent design, physical experimentation, digital simulation and innovative applications, thereby advancing the R&D paradigm toward autonomous discovery."

PolyU expands its global footprint by building its first overseas innovation hub.

As a subsidiary of XtalPi, PAIEvo leverages XtalPi's AI for Science platform, built on quantum physics, AI, and robotic experimentation, to systematically extend its proven R&D capabilities and technology strengths into key scenarios of new materials R&D. Dassault Systèmes, meanwhile, creates virtual worlds through its 3D design software, 3D Digital Mock-Up and Product Lifecycle Management solutions, reshaping the way products are designed, manufactured and supported.

The University's collaboration with Dassault Systèmes began in 2003. What started as a software licensing relationship has gradually developed into a comprehensive and multi-layered partnership embracing research and talent development. Last year, this partnership reached a new milestone with the establishment of the Dassault Systèmes–PolyU Center of Excellence, the first of its kind in the Asia-Pacific region. Combining PolyU expertise in AI, robotics and materials innovation with Dassault Systèmes leadership in virtual twin technologies, the Center has laid a solid foundation for the company's expansion in Hong Kong and has become an important platform for driving innovation in 'AI + materials' and 'AI + virtual twin'.

The PolyU-Dassault Systèmes partnership also demonstrates the University's proactive role in helping attract internationally renowned enterprises and talent to Hong Kong. Through the support of the HKSAR Government's Office for Attracting Strategic Enterprises (OASES), and with PolyU's recommendation and support, Dassault Systèmes was selected as one of OASES' sixth batch of 22 strategic enterprises, officially establishing its presence in Hong Kong and expanding its local operations. PolyU will continue to support Dassault Systèmes development in Hong Kong by strengthening links between the "AI + manufacturing" innovation ecosystems of Hong Kong and France, while also leveraging its strong network of translational research institutes and centres in the Chinese Mainland to facilitate the company's further expansion there.

During its visit to Dassault Systèmes, the PolyU delegation toured "The Playground", an immersive experience space showcasing innovative technologies and live demonstrations powered by the company's 3DEXPERIENCE platform. The delegation also visited the company's 3DEXPERIENCE Lab to learn more about the innovative products and solutions developed by startups nurtured by Dassault Systèmes. The three parties additionally held in-depth exchanges and discussions on the practical implementation of their future collaboration.

Hashtag: #PolyU

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PERFORMANCE HIGHLIGHTS (H1 2026)

• Revenue increased to US$113.2 million (up 23.8% YoY), driven by the 2 January 2026 acquisition of the Active Apparel Group Pty Ltd and Active Apparel Group (America) LLC ("AAG") business which is now successfully integrated into the Group's platform
• Net profit grew to US$ 5.4 million representing a 1.8% increase YoY, after absorbing one-off integration costs arising from the AAG acquisition

STRATEGIC DEVELOPMENT

• Deployed proprietary Product Lifecycle Management ("PLM") system and in-house AI engine, advancing our transformation into a tech-enabled apparel platform and driving greater operating leverage

SHAREHOLDER RETURNS

• Interim dividend maintained at HK3.0 cents per share, reflecting confidence in cash generation

HONG KONG SAR - Media OutReach Newswire - 13 July 2026 - Lever Style Corporation (HKEX: 1346, "Lever Style"), the world's premier apparel production platform, today reported financial results for the six months ended 30 June 2026.

For the first half of 2026, Lever Style recorded a return to top-line growth. Following a defensive strategy in 2025 aimed at managing credit risk, the Group recorded total revenue of US$113.2 million, representing a 23.8% increase compared to the same period last year. "This revenue expansion was driven by the 2 January 2026 acquisition of the AAG business, which has now been integrated into our operating platform, providing a broader foundation for our growth trajectory." said William Tan, CEO of Lever Style.

Navigating Integration for Long-Term Value

"While revenue expanded substantially, net profit for the period grew to US$5.4 million, representing a by 1.8% increase, compared to the first half of 2025. This short-term pressure on our bottom line reflects one-off, upfront integration costs. These primarily included temporary staff duplication costs as we merged workflows, systems, and personnel. We regard these transitional costs as necessary investments to secure the structural, long-term profitability of the acquired business." Mr. Tan added.

With the integration phase now largely completed, the group's cost structure is better optimized, and the group will enjoy the operating leverage that enhanced scale provides.

Strategic Technology & In-House AI Solutions

The group's platform-based strategy continues to progress, converting its operational capabilities from a traditional apparel supplier into a tech-enabled enterprise. During the period under review, Lever Style successfully developed and deployed its own PLM system, among other solutions. These internal enterprise systems are designed to enhance workflow transparency, accelerate speed-to-market, and reduce waste across the group's asset-light supply chain.

Capitalizing on its expanding internal R&D capabilities, the group has also customized AI solutions to fit its specific business model. Rather than relying on generic off-the-shelf software, these proprietary tools support day-to-day merchandiser productivity and factory coordination, reinforcing Lever Style's long-term competitive advantage.

Market Outlook: Premium Resilience in a K-Shaped Economy

"The US market—our primary market—has proven surprisingly resilient through the first half of 2026. However, underneath the headline figures lies a visible 'K-shaped' economic split: a highly promotional and pressured middle market where retail liquidity remains tight and consumers are value-sensitive, and a premium/affluent tier of high-income consumers whose discretionary spending remains relatively stable, sustaining steady demand for premium products and services." Stanley Szeto, Executive Chairman of Lever Style, commented.

Lever Style remains largely insulated from mass-market volatility due to its focus on upscale designers and premium fashion brands. Because the group's brand portfolio aligns with this more resilient premium sector of the market, it remains well-positioned to navigate current economic conditions.

Future Prospects & Financial Synergies

Looking toward the second half of 2026 and into 2027, the group's strategic roadmap focuses on three primary operational and financial levers:

• AAG Bottom-Line Contribution: With major integration headwinds resolved, the AAG activewear business is expected to start contributing to the bottom line in H2 2026, with net profit margins of this business targeted to improve steadily, with the aim of approaching the margin profile of Lever Style's legacy business in 2027.
• Targeting Operating Leverage: As expanded volume is funneled through the group's upgraded digital platform, Lever Style is targeting synergies from operating leverage across its vendor network, allowing fixed overheads to be managed more efficiently.
• Pursuing M&A Opportunities: By integrating the AAG business, Lever Style has demonstrated the scalability of its own platform. Consequently, the group remains active in evaluating a pipeline of further value-accretive acquisitions to expand its product capabilities and geographical production footprint.

"The Group has completed the primary phases of integration, upgraded its technology base, and remains aligned with the more resilient segments of consumer demand. The Board remains confident in our underlying business model and our ability to deliver long-term value to shareholders." Mr. Szeto concluded.

For more details, please visit: https://www1.hkexnews.hk/listedco/listconews/sehk/2026/0713/2026071300602.pdf

Hashtag: #LeverStyle

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Lever Style Corporation

Listed on the Hong Kong Stock Exchange, Lever Style (HKEX 1346) is the world's premier apparel production platform for premium contemporary and designer brands such as Alexander Wang, Theory, Todd Snyder, and Aimé Leon Dore; active and performance brands such as Arc'teryx, Columbia Sportswear, Helly Hansen, Spanx, Skims, and J.Lindeberg; and digitally native brands and platforms such as Mizzen+ Main and Bonobos.

Our supply chain solutions encompass fashion design, prototype development, raw material procurement, production, quality control, and logistics. Our innovative, modularized multi-country platform delivers high-mix, low-volume orders and reduces excess inventory and stockouts. Our versatile approach is rooted in decades of technical expertise gained from working with many of the world's highest-quality and most demanding brands. We support production for 175 brands through a network of more than 150 factories across eight countries: Vietnam, China, Indonesia, Bangladesh, Cambodia, Sri Lanka, India and Thailand. A certified B Corp, Lever Style is a committed ESG leader in the apparel production sector.

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