Fintech PR
LG RELEASES PRELIMINARY EARNINGS FOR FIRST-QUARTER 2025
The Company Achieves Record-High First-Quarter Revenue
Surpassing KRW 22 Trillion
SEOUL, South Korea, April 7, 2025 /PRNewswire/ — LG Electronics Inc. (LG) today announced its preliminary earnings results for the first-quarter of 2025, reporting a consolidated revenue of KRW 22.7 trillion and operating profit of KRW 1.3 trillion.
This marks the first time LG’s first-quarter revenue has exceeded KRW 22 trillion. Despite ongoing macroeconomic challenges, including a global economic slowdown, the company’s focus on “qualitative growth” businesses played a key role.
Especially in B2B sectors, the Eco Solution (ES) business has been the primary driver of growth in both revenue and profitability. Other areas—such as subscription services, webOS-based advertising and content, and direct-to-consumer (D2C) sales—also contributed to the company’s record-breaking results.
Operating profit exceeded KRW 1 trillion for the sixth consecutive year, continuing to reflect a stable profit structure. Increased revenue from high-margin areas created a strong operating leverage effect, helping to sustain a stable profit structure. Additional drivers of profitability included efficient resource allocation, normalization of raw material and logistics costs, and enhanced agility in global production operations.
In the home appliance solution business, LG’s premium products maintained strong leadership in the global market. The built-in appliance business – a B2B segment – alongside key component sales such as motors and compressors, also contributed meaningfully to the performance.
The company’s subscription business, which combines hardware and services, is rapidly expanding. In 2025, LG plans to further strengthen its subscription-ready product lineup and customer care services, while also accelerating the global rollout of its subscription model.
In the media and entertainment solution business, from this year, LG is integrating its display-based businesses – including TVs, IT (laptops, monitors) and ID (commercial displays) – to generate synergy in its webOS-based advertising and content platform, traditionally centered around smart TVs.
LG’s 2025 TV lineup introduced enhanced AI features such as personalized content recommendations, superior picture quality and immersive sound. New products like the ultra-light LG gram Pro AI laptop and the portable LG StanbyME 2 lifestyle screen received positive responses from global markets. The commercial display segment also secured several large-scale international contracts.
The vehicle solution business, continues to expand sales of high value-added products, especially in in-vehicle infotainment (IVI) systems, while diversifying into automotive content platforms. LG Magna e-Powertrain is strengthening its competitiveness through advanced motor and inverter technologies and is enhancing operational capabilities at global production sites to support long-term growth. Meanwhile, the automotive lighting business is accelerating development of next-generation technologies, such as high-resolution and intelligent lighting systems, while improving overall efficiency.
The heating, ventilation and air conditioning (HVAC) business began operating as an independent Company in the first quarter. By focusing business capabilities on the essence of the order-based HVAC business and the characteristics of customers, the company is increasing its contribution to profitability.
In the commercial HVAC space, LG secured major overseas contracts in markets such as Singapore, thanks to its ability to provide localized, tailored solutions. Going forward, LG aims to make HVAC a core pillar of its B2B portfolio by leveraging its proprietary technologies in compressors, fans, heat exchangers and AI engines.
In the residential market, LG plans to maintain its leadership with AI-powered innovations. Additionally, in industrial and power-generation sectors, the company is actively pursuing new opportunities with large-scale chiller systems.
These figures are tentative consolidated earnings based on K-IFRS provided as a service to investors prior to LG Electronics’ final earnings results, including net profit. Details regarding each division will be announced officially later this month.
About LG Electronics, Inc.
LG Electronics is a global innovator in technology and consumer electronics with a presence in almost every country and an international workforce of more than 75,000. LG’s four Companies – Home Appliance Solution, Media Entertainment Solution, Vehicle Solution and Eco Solution – combined for global revenue of over KRW 88 trillion in 2024. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, automotive components and solutions, and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names world over. Visit www.LGnewsroom.com for the latest news.
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View original content:https://www.prnewswire.co.uk/news-releases/lg-releases-preliminary-earnings-for-first-quarter-2025-302421648.html
Fintech PR
Stewardpoint Announces Co-Promotion and Data Licensing Agreement with Morningstar Sustainalytics
BOSTON, April 23, 2025 /PRNewswire/ — Stewardpoint, a pioneering provider of stewardship execution, tracking, and reporting tools, has announced today that it has entered into a co-promotion and data licensing agreement with Morningstar Sustainalytics, a leading independent ESG and corporate governance research, ratings and analytics firm. Asset managers, asset owners, NGOs, research providers and other sustainable investors will now be able to access Morningstar Sustainalytics company engagement data via the Stewardpoint platform. This collaboration will enable Stewardpoint users to more efficiently execute, manage, and report on their stewardship activities, ensuring alignment with their stewardship goals.
As part of this integration, Stewardpoint’s advanced stewardship tool will be available to Morningstar Sustainalytics clients who are part of the Stewardpoint platform. Morningstar Sustainalytics’ robust stewardship data solutions and services will be integrated into Stewardpoint’s platform, providing users with valuable insights to inform their decision-making processes.
“Incorporating Morningstar Sustainalytics data onto our platform represents a significant step forward in the stewardship landscape,” said Jeff Marsh, Founder and CEO of Stewardpoint, “By combining our stewardship tool with Morningstar’s rich stewardship data solutions and services, we are enhancing our user’s ability to make informed investment decisions and to demonstrate their prudent stewardship of the capital their clients have entrusted to them.”
“We are thrilled to work with Stewardpoint to enhance the stewardship capabilities available to our clients,” added Ruthann Bartello, Senior Director of Global Stewardship for Morningstar Sustainalytics. “Our clients now have more ways to access high quality stewardship tools and resources to effectively engage with their portfolio companies and navigate an increasingly complex and challenging investment landscape.”
This collaboration marks a significant advancement in the stewardship and engagement space, enabling investors to streamline their stewardship efforts while leveraging reliable data to drive their investment strategies and evidence the depth of their stewardship capabilities. As a result, investors will be better positioned to fulfill their fiduciary duties and align with their client’s stewardship objectives.
About Stewardpoint
Stewardpoint is an innovative technology company specializing in stewardship execution, management, and reporting tools designed for institutional investors and asset managers. We streamline the complex and critical processes of investment stewardship so that investors can perform their fiduciary duty and easily align with the stewardship goals of all constituents within the investment value chain.
Media Contacts:
Mason Gregory
Head of Investor Engagement
Stewardpoint
Mason@stewardpoint.com
View original content:https://www.prnewswire.co.uk/news-releases/stewardpoint-announces-co-promotion-and-data-licensing-agreement-with-morningstar-sustainalytics-302436010.html
Fintech PR
Surfin Meta Digital Technologies completes funding round of USD 26.5 million with Woori Venture Partners, Washington University in St. Louis and Phillip Private Equity, following initial raise with Insignia Ventures Partners
SINGAPORE, April 23, 2025 /PRNewswire/ — Surfin Meta Digital Technologies, Singapore-headquartered financial technology solutions provider for the underserved, announced the successful completion of its oversubscribed funding round on April 23 2025. Woori Venture Partners, Washington University in St. Louis, and Phillip Private Equity participated in this round, bringing total funding to USD 26.5 million.
This is a remarkable achievement and milestone from the initial investment of USD 12.5 million that was led by Insignia Ventures Partners in October 2024. It is also a reflection of continued investor confidence in Surfin’s business model and its mission to support the unbanked and underbanked in emerging markets.
With this additional capital, Surfin is well-positioned to build on its capabilities to develop more innovative technologies and build a sustainable digital financial ecosystem.
“I have always believed that financial inclusion is critical towards helping less privileged people who face difficulties to access even the simplest of financial services in emerging markets. We are proud to close our funding round with strong interest from well-known institutional investors that also stand testament to Surfin’s outstanding performance and potential to grow into a truly global fintech company. We are very excited to work with Insignia, Woori, Washington University in St. Louis, and Phillips, and believe they will provide us with additional guidance and resources with which to take on this challenge.”
Dr Yanan Wu, CEO and Founder. Surfin Meta Digital Technologies
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“Having partnered with many fintech companies over the years, it has been rare to find a company like Surfin bootstrapped and grown to scale across multiple markets, having to manage the complexities and nuances of each. It has the potential to truly become multi-country and multi-product, a trajectory rooted in the company’s depth of consumer data at scale, which can be harnessed to deliver hyper-local, hyper-personalized financial services. Surfin is at the forefront of a wave of companies driving equitable economic growth through data factories rather than physical ones. We are proud to see that their mission of financial inclusion for emerging markets has continued to attract the support of global investors.”
Mr Yinglan Tan, Founding Managing Partner of Insignia Ventures Partners
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“We are excited to back Dr Wu and his team in its ambition to redefine financial inclusion. Surfin has made remarkable progress in creating an ecosystem of technology-powered financial services across emerging markets such as Indonesia, Philippines, India and Mexico from Singapore. Even more impressive, it has done so bootstrapped before the current institutional round. We are looking forward to supporting Surfin in its next phase of expansion”
Mr Alan Ang, Director of Woori Venture Partners
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“Despite the challenging market environment, we have been impressed by Surfin’s continued commitment toward building a sustainable business model while delivering on its vision to bring financial inclusion for the less privileged in the region. We are proud to be part of this funding round by Surfin to support their continued growth journey to become a global fintech leader.”
Ms. Grace Tang, CEO and Managing Director of Phillip Private Equity, a member company of Phillip Capital Group
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The proceeds will be used to support Surfin’s development into new markets, as well as to expand the company’s research & development initiatives to build a holistic suite of intelligent financial products in these markets.
Haitong International Securities Singapore assisted as a financial advisor in this funding round.
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“We are honored to have supported Surfin and Dr. Wu in reaching this important milestone. The success of this round reflects the clarity of Surfin’s mission, the strength of its leadership, and the confidence it has earned from respected investors. Dr. Wu’s vision to advance financial inclusion through technology is both compelling and urgently needed across emerging markets. We look forward to seeing Surfin continue to scale its impact.”
Ms. Deng Luming, Chief Executive Officer of Haitong International Securities (Singapore) Pte. Ltd.
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About Surfin Meta Digital Technologies
Surfin is a financial technology platform that provides digital financial services for the unbanked and underbanked in emerging markets. The company provides services including consumer lending and credit cards, payments and remittances, wealth management as well as B2B services.
Surfin’s unique differentiation lies in its focus on utilising technology to provide a highly scalable platform across borders, and providing a deep ecosystem of transparent and innovative financial solutions. For more information please visit www.surfin.sg.
About Insignia Ventures Partners
Insignia Ventures Partners is a Southeast Asia early-to-growth stage venture capital firm partnering with unstoppable founders to build great companies. Since 2017, we have invested in emerging technology companies across industries and geographies in the region, including Carro, Ajaib, GoTo (IDX: GOTO), Appier (TSE: 4180), Fazz, Shipper, Tonik, Flip and Super, and many other technology market leaders. We partner early with founders and support them from seed through growth stage as their companies create meaningful impact for millions of people in Southeast Asia and beyond. With our team of investment and operating professionals who bring together decades of experience and proprietary networks, we equip our founders with the tools they need for growth. We manage capital from premier institutional investors including sovereign wealth funds, foundations, university endowments and renowned family offices from Asia, Europe and North America.
Learn more on our website, Insignia Business Review, our podcast On Call with Insignia (new episodes weekly on Spotify, Apple Podcasts, and YouTube), and these case studies from HBS and INSEAD.
Check out our public access toolkit for founders and investors looking into region, including term sheet generators, market statistics, cybersecurity scanner, and more. We also provide venture capital education programs for C-levels and senior execs through Insignia Ventures Academy.
Follow us on LinkedIn, Instagram, and Twitter.
About Woori Venture Partners
Woori Venture Partners is South Korea’s leading venture capital firm with a distinguished track record spanning over 40 years. Established in 1981, Woori Venture Partners has expanded its global presence with investment hubs in Silicon Valley, Shanghai and Singapore. With investments in over 2,000 companies, over 300 of which have successfully gone public, Woori Venture Partners is dedicated to driving innovation and fostering growth opportunities worldwide.
Woori Venture Partners officially opened its Singapore office in 2023, and its presence in Southeast Asia reflects the growing investment opportunities in the region. Woori Venture Partners has cultivated a portfolio of close to 15 investments from Southeast Asia and India across diverse sectors including B2B, consumer, deep-tech, fin-tech and Web3. The Singapore office is also exploring Web3 opportunities globally, with a particular focus on the intersection of financial services and blockchain.
About Washington University in St. Louis
Founded in 1853, Washington University in St. Louis is among the world’s leaders in teaching, research, patient care and service to society. WashU is distinctive in its purpose-driven scholarship across a wide range of academic disciplines, its highly supportive residential undergraduate experience and its world-class research enterprise, which addresses scientific, social and economic challenges locally, nationally and globally.
WashU maintains a long-term endowment which is managed by the WashU Investment Management Company. The endowment is invested globally across all asset classes with the primary purpose to support the university’s mission across generations.
About PhillipCapital
Since its inception as a stockbroker in 1975, PhillipCapital has grown into an integrated Asian financial house with a global presence and offers a full range of quality and innovative services to retail and high-net-worth individuals, family offices, as well as corporate and institutional customers. PhillipCapital offers a comprehensive suite of financial products and services including broking in securities, futures, foreign exchange, bonds, precious metals and commodities, unit trusts, contracts for difference, exchange-traded funds; fund management, managed accounts, insurance planning, regular savings plan, investment research, equity financing and property consultancy. Institutions can also benefit from our corporate finance and advisory services as well as information technology solutions. Today, the company headquartered in Singapore operates in the financial hubs of 15 countries, including offices in Australia, Cambodia, China (and Hong Kong SAR), India, Indonesia, Japan, Malaysia, Singapore, Spain, Thailand, Turkey, UK, UAE, USA and Vietnam, serving over 1 million clients with Assets Under Management of total more than USD 65 billion. Find out more information, please visit www.phillip.com.sg.
About Haitong
– Haitong International Securities (Singapore) Pte. Ltd.
Haitong International Securities (Singapore) Pte. Ltd. is a wholly-owned indirect subsidiary of Haitong International Securities Group Limited.
– Haitong International Securities Group Limited
Haitong International Securities Group Limited (“Haitong International”) is an international financial institution with established presence in Hong Kong and a rapidly expanding network across the globe. It strives to serve as a bridge linking up the Chinese and overseas capital markets.
Haitong International is well positioned to serve corporate, institutional, as well as high-net worth clients worldwide. Its well-established financial services platform provides a full spectrum of financial offerings including private wealth management, corporate finance, asset management and global markets businesses. Haitong International possesses a sound risk management system that is in line with international standards. Haitong International has a global financial servicing network covering the world’s major capital markets including Hong Kong, Singapore, New York, London, Tokyo, Mumbai and Sydney, thereby making it a world-class Chinese financial institution with international competitiveness, systemic importance and brand influence.
Contact:
media@surfin.sg
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Fintech PR
Fayafi Investment Holding Confirms Termination of Association with Former Executive President Patrick Pilati
DUBAI, UAE, April 23, 2025 /PRNewswire/ — Fayafi Investment Holding confirms that Mr. Patrick Pilati, who previously held the role of Executive President, is no longer affiliated with the company in any capacity. His position has been officially and permanently terminated.
Despite his former title, Mr. Pilati does not represent Fayafi in any way. Any public communication, media appearance, online content, or business material implying an ongoing association with Fayafi is entirely false, unauthorized, and misaligned with the company’s values and governance protocols.
Fayafi remains committed to building a future defined by transparency, integrity, and long-term regenerative investment strategies. The company continues to operate with a strong leadership team focused on innovation, ethical growth, and delivering exceptional value to its partners and investors.
Any misuse of the Fayafi name or brand identity will be addressed accordingly, and the company reserves all rights to pursue legal action to protect its reputation and stakeholders.
For all official updates and inquiries, please refer to Fayafi’s verified communication channels.
View original content:https://www.prnewswire.co.uk/news-releases/fayafi-investment-holding-confirms-termination-of-association-with-former-executive-president-patrick-pilati-302435971.html
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