ACN Newswire

HKTDC’s response to Hong Kong’s export figures for March

2026-04-28

HONG KONG, Apr 28, 2026 - (ACN Newswire via SeaPRwire.com) - The Census and Statistics Department today released the latest external merchandise trade statistics. In March 2026, the total value of Hong Kong’s merchandise exports recorded a year-on-year increase of 35.8% to HK$618.4 billion. For the first quarter of 2026, the total value of exports of goods amounted to HK$1,546.2 billion, representing a robust growth of 32.0% compared with the same period last year.Commenting on the outlook, Bruce Pang, Director of Research at the Hong Kong Trade Development Council, said Hong Kong’s exports are expected to remain steady at least in the near term, despite elevated energy prices arising from ongoing tensions in the Middle East. He noted Hong Kong’s external trade has continued to exhibit clear growth momentum, underpinned primarily by sustained global demand for electronic items and other intermediate goods that are integral to regional and global supply chains.In particular, resilient input demand from the Chinese Mainland and other ASEAN production sites, together with stable demand from major overseas markets, has provided a solid buffer against external headwinds. While geopolitical uncertainties persist and energy prices are likely to remain relatively high, continued industrial activity in major markets, as well as ongoing supply-chain realignments, are expected to lend ongoing support to Hong Kong’s trade flows.“Overall, we maintain a cautiously optimistic outlook for Hong Kong’s trade performance, while remaining mindful of potential volatility arising from geopolitical developments and cost pressures,” Pang added.HKTDC Media Room: https://mediaroom.hktdc.com/enMedia enquiriesPlease contact the HKTDC’s Communications & Public Affairs Department:Jane CheungTel: (852) 2584 4137Email: jane.mh.cheung@hktdc.orgAbout HKTDCThe Hong Kong Trade Development Council (HKTDC) celebrates its 60th anniversary this year. The HKTDC is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With over 50 offices globally, including 13 in the Chinese Mainland, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Copyright 2026 ACN Newswire via SeaPRwire.com. All rights reserved. www.acnnewswire.com

CanSinoBIO Delivers Q1 Revenue Growth Amid Accelerating International Expansion

ACN Newswire

旭陽集團與杭氧集團簽署戰略合作協議共築氫能全產業鏈新生態

2026-04-27

香港, 2026年4月28日 - (亞太商訊 via SeaPRwire.com) - 2026年4月24日，旭陽集團有限公司（簡稱「旭陽集團」）與杭氧集團股份有限公司（簡稱「杭氧集團」）在杭州正式簽署戰略合作協議。雙方將立足京津冀雄和長三角區域，面向全國，在氫能供應體系、高端裝備國產化、技術創新及產業投資等領域開展全方位、深層次合作，共同推動我國氫能產業高質量發展。旭陽集團在工業副產氫領域擁有超過30年深厚積累，是全球最大的獨立焦炭生產商及供應商；全球最大焦化粗苯加工商、第二大高溫煤焦油加工商和己內酰胺生產商(按產能計)，亦是中國最大的焦爐煤氣制甲醇生產商和京津冀最大的高純氫供應商(按產量計)，中國旭陽集團（1907.HK）2019年3月成功在香港聯交所主板上市，已形成覆蓋「制-儲-運-加-用+研」的完整氫能產業鏈。杭氧集團股份有限公司（002430.SZ）2010年在深圳證券交易所上市，是世界一流的空分設備和低溫石化裝備供應商，中國氣體的產業開拓者和引領者，亦是國內第一台空分設備製造者；其大型、特大型空分設備產量和銷量全球第一，總體技術達到國際領先水平，在氣體運營及氫能技術研發方面具備領先優勢。此次合作是雙方優勢資源的戰略級整合，將旭陽氫源基礎與應用場景，與杭氧的裝備技術及氣體產業能力深度融合，為氫能全產業鏈生態建設注入強勁動力。聚焦三大合作方向，釋放協同發展新動能本次合作將重點圍繞氫能銷售與供應體系的共建、高端裝備國產化應用，以及技術創新與產業化落地展開。雙方將通過業務對接與資源協同，構建「液氫生產基地+區域儲氫樞紐+加氫站網絡」三級供應體系，共同拓展工業、交通、電子、醫藥、航天等終端市場。同時，雙方將聯合推進氫能領域關鍵裝備與系統的國產化進程，並在旭陽定州氫能生產基地共建氫能裝備測試與技術創新中心，聚焦液氫及加氫站核心部件的驗證與攻關，攜手申報國家級科研項目及行業標準。為進一步深化合作，雙方還擬共同出資設立合資公司，主營氫氣/液氫銷售、氫能裝備製造及技術服務，加速科技成果的產業化落地。合作前景：從資源優勢邁向全鏈引領此次戰略合作，標誌着旭陽集團氫能產業正加速從「資源優勢」向「全鏈優勢」躍升。通過與杭氧集團的強強聯合，旭陽將有效補齊在高端裝備和氣體運營網絡方面的關鍵環節，顯著提升氫能產品的市場覆蓋能力與流通效率，並藉助國產化裝備的規模化應用，降低全鏈條成本，增強核心競爭力。對於杭氧集團而言，合作將助其從傳統空分及低溫裝備領域，深度切入工業副產氫這一豐富的氫能源頭，拓展液氫及高純氫的應用場景，搶占氫能裝備與氣體服務的市場先機。面向未來，雙方將以此次合作為起點，構建可複製、可推廣的氫能產業生態。未來合資公司的設立更將為雙方帶來長期穩定的業務增長極，推動旭陽集團從焦化龍頭向全球領先的清潔能源解決方案提供商加速轉型，同時也助力杭氧集團實現從裝備製造向「裝備+服務+運營」的產業鏈延伸。在國家「雙碳」目標的引領下，旭陽與杭氧的攜手，將為我國氫能產業的高端化、規模化和國際化發展樹立新的標杆。杭氧集團黨委副書記童俊表示：「旭陽集團在工業副產氫及氫能應用場景方面具有獨特優勢。杭氧將全力支持雙方深度合作，共同推動我國氫能產業邁向高端化、規模化、國際化。」旭陽集團高級副總裁張英偉表示：「杭氧集團在低溫裝備和氣體運營方面擁有世界級的技術實力。本次合作是旭陽氫能產業的關鍵躍升，我們將充分發揮互補優勢，加快打造氫能產業生態，助力國家『雙碳』目標實現。」關於戰略合作協議，雙方已建立高層溝通機制和聯合工作小組，確保合作高效落地。未來，旭陽集團將繼續秉持開放、協同、共贏的理念，攜手產業鏈優秀夥伴，為構建清潔低碳、安全高效的現代能源體系貢獻旭陽力量。 Copyright 2026 亞太商訊 via SeaPRwire.com. All rights reserved. www.acnnewswire.com

Empowered by Pipeline and Forged by Technology: Mabwell Successfully Lists on the Main Board of HKEX

2026-04-27

HONG KONG, Apr 28, 2026 - (ACN Newswire via SeaPRwire.com) - Driven by the continuous innovation in global biopharmaceutical technology, the steady rollout of favorable policies, and escalating clinical demands, the biopharmaceutical industry is ushering in a golden cycle of development. As a representative enterprise in China's innovative pharmaceutical sector, Mabwell (Shanghai) Bioscience Co., Ltd. (“Mabwell” or the “Company”, stock code: 02493.HK) has seized industry development opportunities by leveraging its profound R&D foundation, integrated whole-industry-chain advantages, and forward-looking global layout. Today, it officially listed on the Main Board of the Hong Kong Stock Exchange (HKEX), joining the biopharmaceutical sector of the Hong Kong stock market and opening a brand-new chapter in its international development.Reportedly, founded in 2017, Mabwell is a leading domestic innovative pharmaceutical enterprise, possessing premier innovative drug R&D capabilities and end-to-end whole-industry-chain capabilities that span from drug discovery to commercial sales. Since its establishment, the Company has been deeply engaged in therapeutic areas for major diseases such as oncology, immunology, ophthalmology, and orthopedics, and is committed to providing safer and more efficient innovative treatment solutions for patients worldwide.Rich and Diversified Product Pipeline Builds Core Competitive BarriersA rich and promising product portfolio serves as the core pillar for Mabwell’s steady development, as well as its key advantage in seizing first-mover opportunities in the market. With a long-term, deep-rooted presence in the innovative drug sector, the Company has built a diversified product pipeline featuring multiple categories and tiers. As of now, Mabwell has 4 commercialized products and 10 drug candidates: 1 in NDA stage,, 1 in preclinical stages, covering multiple high-potential therapeutic areas and supporting long-term growth.Mabwell’s self-developed core product, 9MW2821, fully demonstrates the Company’s leading edge in the ADC field. 9MW2821 is the most advanced among all Nectin-4-targeting ADCs for urothelial carcinoma (“UC”) in China in terms of clinical development progress, and only second to the globally blockbuster drug Padcev. Meanwhile, it is also the first Nectin-4-targeting ADC globally to enter the pivotal Phase III clinical trials for cervical cancer (“CC”), and triple-negative breast cancer (“TNBC”), boasting extensive market potential.Beyond 9MW2821, Mabwell continues to advance the R&D of ADC candidates targeting other novel targets and has built a comprehensive ADC pipeline portfolio. Its pipeline includes 7MW3711, an ADC specifically targeting B7-H3 (an immune checkpoint protein), and 7MW4911, an ADC specifically targeting CDH17. This layout further diversifies the Company’s footprint in oncology treatment and steadily consolidates its leading advantages in the ADC track.Notably, Mabwell has also strategically prioritized the layout of product pipelines covering monoclonal antibodies (“mAbs”), TCE bispecific antibodies, fusion proteins and small molecule drugs, fostering a pattern of coordinated development across multiple product categories. Its R&D portfolio includes: 9MW3811, a humanized monoclonal antibody targeting IL-11 for the treatment of fibrosis -related diseases and cancers; 9MW1911, the first domestically developed drug candidate approved for clinical development in China targeting ST2; 9MW3011, a recombinant humanized TMPRSS6 targeting mAb among the leading TMPRSS6-targeting therapies in terms of development status globally; and 6MW5311, the world’s first LILRB4/CD3-targeted TCE bispecific antibody filed for clinical trials. These candidates keep expanding the boundaries of the Company’s innovative drug research and development.Outstanding commercialization capabilities, expanding a global market footprintLeveraging its fully integrated industry chain capabilities and forward-looking commercialization strategy, Mabwell (Shanghai) Bioscience Co., Ltd. has continued to deliver tangible commercialization outcomes. In 2025, the Company’s Junmaikang® obtained marketing approval in Indonesia, while Mailisheng® and Maiweijian were approved for commercialization in Pakistan, marking steady progress in its international commercialization efforts.Since 2022, the Company has actively expanded overseas collaborations, entering into multiple landmark international partnership agreements and securing corresponding revenue-sharing arrangements. It has successfully penetrated emerging markets including Brazil, Indonesia, Saudi Arabia, and countries along the Belt and Road Initiative, establishing an extensive global commercial network.In terms of global partnerships, Mabwell has further deepened its international presence. In January 2023, the Company entered into an exclusive licensing agreement with Disc Medicine for 9MW3011, under which it is entitled to receive up to US$412.5 million in upfront payments, milestone payments, and royalties. In June 2025, it reached an exclusive licensing agreement with Calico Life Sciences for 9MW3811, with total potential consideration exceeding US$600 million, including upfront, milestone, and royalty payments. In October 2025, the Company signed an exclusive licensing agreement with Kalexo Bio for a novel dual-target siRNA candidate drug, further expanding the breadth and depth of its international market collaborations.Powerful Technology Platforms Lay a Solid Foundation for Innovation-Driven GrowthPowerful technology platforms serve as the core engine for sustained innovation at Mabwell, and are also pivotal to building differentiated competitive advantages. With deep commitment to technological R&D, the Company has established four core ADC technologies for which we possess proprietary intellectual property rights, providing strong support for the development of innovative drugs.Among these, DARfinity is a self-developed site-specific conjugation process that enables precise drug molecule conjugation; IDconnect is an optimized design of linker molecules that enhances the stability of the linkage between the antibody and toxins; Mtoxin is a class of camptothecin-based novel toxic molecules that are used as the “warhead” in the ADC to kill the targeted cells, providing more potent target cell killing effects; LysOnly is an innovative structure that allows conditional release of toxins, effectively improving the overall safety and efficacy of ADC drugs.These four proprietary technologies serve as the core pillars of our site-specific conjugation ADC development platform, synergistically enabling the Company to develop ADC products with better uniformity, stability, purity, and a superior efficacy and safety profile. This significantly improves pipeline R&D efficiency, allows rapid response to clinical and market demands, and continuously consolidates the Company's leading position in the ADC field.In addition, Mabwell continues to develop and upgrade other core technology platforms, forming a multi-technology synergistic development system. These platforms include the integrated high-efficiency antibody discovery platform and the T-cell engager (TCE)-based bi/tri-specific antibody development platform, among others. The TCE-based bi/tri-specific antibodies developed on these platforms can simultaneously and specifically bind to tumor-associated antigens and the T-cell CD3 epitope, thereby laying a solid technical foundation for the Company's strategic positioning in the field of immunotherapy.From an industry perspective, the global biopharmaceutical sector, as a core segment, has continued to gain momentum in recent years. The global oncology drug market grew from US$143.5 billion in 2019 to US$253.3 billion in 2024 with a CAGR of 12.0%, and is expected to further increase to US$375.9 billion, and US$548.2 billion in 2028, and 2032 respectively, with CAGRs of 10.4% from 2024 to 2028 and 9.9% from 2028 to 2032, respectively. This trend presents substantial growth opportunities for leading industry players like Mabwell, which possess core technologies and a globalized footprint.Driven by in-house R&D, supported by integrated end-to-end capabilities across the entire industry chain, and guided by a long-term global strategy, Mabwell continues to advance steadily in the innovative pharmaceutical sector. Leveraging a robust product pipeline, strong technological expertise, and well-established commercialization capabilities, the Company has built a solid competitive position. Its successful listing in Hong Kong will further accelerate the development of its core products, enhance its commercialization strategy, and strengthen its core competitiveness. This, in turn, is expected to position the Company at the forefront of the biopharmaceutical wave, with strong long-term growth potential that merits close market attention. Copyright 2026 ACN Newswire via SeaPRwire.com. All rights reserved. www.acnnewswire.com

ACN Newswire

51WORLD Grants 940,200 RSUs for the First Time via Share Repurchase

2026-04-27

HONG KONG, Apr 28, 2026 - (ACN Newswire via SeaPRwire.com) - Beijing 51WORLD Digital Twin Technology Co., Ltd. (“the Company”, Stock Code: 6651.HK) announced on 27 April 2026 the first grant of 940,200 restricted share units (RSUs) to 303 employees under its 10-year RSU Scheme, representing approximately 0.23% of the Company’s total issued shares.The underlying shares will be sourced from existing H Shares acquired by the Trust on the secondary market and/or treasury H Shares repurchased by the Company using its own funds. Vesting of the award shares shall be 25% after 12 months from acceptance, and the remaining 75% shall vest in 12 quarterly instalments at 6.25% each until fully vested.The RSU Scheme is intended to align the interests of the core team with the long-term development of the Company and enhance the incentive mechanism for talent attraction and retention. Copyright 2026 ACN Newswire via SeaPRwire.com. All rights reserved. www.acnnewswire.com

ACN Newswire

Buffalo Potash Announces Preliminary Economic Assessment for Disley Project with After-Tax NPV of US$1.1B and IRR of 30%; Releases Results from Maiden 43-101 Mineral Resource Estimate

2026-04-27

Saskatoon, Saskatchewan--(ACN Newswire via SeaPRwire.com - April 27, 2026) - Buffalo Potash Corporation (TSXV: BUFF) (OTCQB: BLPTF) (the "Company" or "Buffalo") is pleased to announce the completion of a Preliminary Economic Assessment ("PEA") and concurrent release of its maiden 43-101 Mineral Resource Estimate for its 100%-owned Disley Potash Project (the "Disley Project"), located in Saskatchewan, Canada.The PEA has been filed and can be found under the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.buffalopotash.ca).PEA & Mineral Resource Estimate Highlights Total production of 1,000,000 tonnes per annum (TPA) of K62 granular-grade Muriate of Potash (MOP) and 125,000 TPA of K62 soluble grade MOPAfter-tax NPV(1)(8) of US$1.1B and IRR(1) of 30%US$639M initial CAPEX estimate, including US$128M in contingencyEstimated US$55/t MOP OPEX (Table 4)Measured and indicated tonnage of 1,671.5 million metric tonnes at an average grade of 34.8% KCl, yielding 582 million tonnes of KClOver 50 years of mine life at 1,125,000 TPA based on current resource estimate (Table 2)(2)The advancement of a Feasibility Study ("FS") for Disley East and Disley West (the "HLD Mines") will run concurrent with Initial Production Module ("IPM") construction, with FS completion representing the key decision gate for proceeding to construction of Disley East and Disley West(3)(2) Based on Measured and Indicated resource estimate of 582Mt at 34.8% KCl.(3) The PEA does not constitute a feasibility study and does not demonstrate economic viabilityMr. Steve Halabura P.Geo., Buffalo Chief Executive Officer, commented: "Since founding Buffalo Potash in 2018, the team and I have invested years of disciplined work — geological, technical, and strategic — to systematically unlock the potential of modular selective solution potash mining in Saskatchewan, the key being Buffalo's Disley Project. Having spent my career working in Saskatchewan potash, I had a strong conviction from the beginning that Disley had a substantial resource endowment, and this Mineral Resource Estimate confirms exactly that. The PEA illustrates both low capex per tonne and operating cost per tonne, as well as setting a new environmental standard for how potash production should look in the 21st century — no tailings stored on surface and minimal freshwater usage." Mr. Halabura continued: "The team and I believe the Disley Project represents the next generation of Saskatchewan potash solution mining and are excited to begin development of the Initial Production Module, which will be the first leg of this buildout and is expected to bring soluble-grade potash production online within the next 12 months. During the development of the Initial Production Module, we will also test our patent-pending Vortex Crystallizer, alongside an industry standard crystallizer, which has the potential to significantly reduce the capex of the Initial Production Module and further potential build-outs. With global attention turning to the security of critical supply chains, the urgency to bring reliable, jurisdiction-stable potash production online has never been greater. This is a proud moment for our team, our shareholders, and the stakeholders that have supported us along the way — and we are just getting started."Table 1: PEA SummaryLine ItemUnitsTotal Project Production Rate MOPTPA1,000,000Production Rate Soluble GradeTPA125,000Total Initial CAPEXUS$ million639CAPEX per Tonne CapacityUS$/tonne568Average Unit OPEXUS$/tonne55MOP Price (25-year avg.)US$/tonne393.6(4)Soluble Grade Price (25-year avg.)US$/tonne373.6(5)Pre-Tax NPV(1) (8%)US$ million1,534.67Pre-Tax IRR(1)%35Post-Tax NPV(1) (8%)US$ million1,085.47Post-Tax IRR(1)%30Steady-State Annual RevenueUS$ million442.5Steady-State Annual EBITDAUS$ million251.0 (4) LoM average price of Granular MOP, produced by Disley East and Disley West(5) LoM average price of Soluble Grade MOP, produced by IPMThe PEA is preliminary in nature and includes inferred mineral resources, which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEA will be realized.PEA & Mineral Resource Estimate OverviewThe PEA was prepared by Micon International Co Limited ("Micon") in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects and evaluates the development of the Disley Project as a phased potash solution mining operation. The PEA has an effective date of April 15, 2026 and is based on a Mineral Resource Estimate ("MRE") developed concurrently by Micon with an effective date of April 15, 2026, incorporating historical assay data from legacy drilling programs as well as results from Buffalo Potash's 2026 confirmation drill program. The PEA contemplates a phased development approach across three production facilities on the Disley property:The Initial Production Module ("IPM") - is a low-capital entry point designed to bring 125,000 tonnes per year of soluble grade MOP to market;Disley East - a full-scale HLD Mine on the east segment of the Disley Project, with a production capacity of 500,000 tonnes per year of granular MOP; andDisley West - a full-scale HLD Mine on the west segment of the Disley Project, with a production capacity of 500,000 tonnes per year of granular MOP.Successful construction of the IPM is anticipated to provide technical data used in the completion of the concurrent FS and would, subject to the results from the FS and a positive construction decision, be followed by the potential concurrent development of the Disley East and Disley West HLD solution mines. If fully developed, the Disley Project is designed to have the capacity to produce 1,000,000 TPA of granular MOP and 125,000 TPA of soluble grade MOP ("Full Production Capacity").The MRE indicates a resource base that substantially exceeds the project's current design requirements, which, if successfully developed, would position the Disley Project as a long-life asset. This is consistent with the generational mine lifecycles typically associated with Saskatchewan potash operations, though there is no certainty that resources will be converted to reserves or that any particular mine life will be achieved.Table 2: Mineral Resource EstimateCategoryTonnage (Mt) Avg KCl GradeAvg K2O GradeKCl (Mt)K2O (Mt)Measured399.734.82%22.00%139.287.9Indicated1,267.434.84%22.01%441.5278.9Inferred2,663.234.96%22.08%930.9588.1 Table 2 Notes:The effective date of this MRE is April 15, 2026.Dr. Ryan Langdon, Ph.D, CGeol, of Micon is the QP responsible for this MRE.The MRE has been classified in the Measured, Indicated and Inferred categories.An average specific gravity (SG) value of 2.08 g/cm3 was used.Conversion between KCl and K2O was made using the formula KCl = K2O * 1.583The MRE used economic assumptions for HLD mining. A deduction was made to account for the presence of mining anomalies not detected by existing drill holes and seismic lines. The values used are 5% for Measured, 9% for Indicated and 25% for Inferred.The block model supporting the resource is orthogonal and has a block size of 50 m x 50 m x 0.9 m.The mineral resources described above have been prepared in accordance with the current Canadian Institute of Mining, Metallurgy and Petroleum Standards and Practices.Numbers have been rounded to the nearest million tonnes. Differences may occur in totals due to rounding.Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred Mineral Resources are uncertain in nature and there has been insufficient exploration; however, it is reasonably expected that a significant portion of Inferred Mineral Resources could be upgraded into Indicated Mineral Resources with further exploration.Micon's QP has not identified any legal, political, environmental, or other factors that could materially affect the potential development of the mineral resource estimate.Figure 1: Core Samples from the 7-10 Hole on the Disley ProjectTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/12107/294332_592822e3642ebbb0_001full.jpgMining MethodBuffalo intends to develop the Project using solution mining, a well-established approach that has been successfully deployed across Saskatchewan for more than 50 years. Solution mining is widely recognized as a reliable and efficient technique for extracting potash from laterally continuous deposits, notably used at both neighboring properties of the Disley Project — the K+S Bethune mine and the Mosaic Belle Plaine mine.Building on this proven foundation, Buffalo holds a patent on an enhanced solution mining approach known as Horizontal-Line-Drive Selective Solution Mining ("HLD Mining"), which is the installation of commercially proven oil and gas injection systems within horizontal wells. This method is designed to optimize efficiency, reduce overall capital intensity, and significantly limit freshwater requirements, while remaining grounded in the principles of traditional solution mining.Following underground dissolution, potash-rich brine is recovered to surface and processed through crystallization, drying, and compaction to produce a finished potash product ready for local delivery or export via existing road and rail infrastructure that currently runs adjacent to the Disley Property.Initial Capital Expenditure (CAPEX) The initial capital cost estimate has been prepared in line with the Class 4 definition outlined by AACE International standards, with a contingency of 25% applied to the IPM, Disley East, and Disley West components.Mechanical equipment represents the largest component of initial capital expenditure at approximately 38% of Total Project initial CAPEX. For Disley East and Disley West, the mechanical scope encompasses the full processing train required to produce export-grade granular MOP, including crystallization, debrining and drying, compaction and glazing, soluble product screening, and product storage and loading. For the IPM, the mechanical scope includes a crystallizer, pumps, tanks, pipework, centrifuge, dryer, and baghouse. Total initial capital expenditure across all three facilities is US$639 million, as summarized in the table below.Table 3: Initial CAPEX SummaryDescription IPMDisley EastDisley WestTotal Project(US$ million)(US$ million)(US$ million)(US$ million)Site Works0.711.311.323.3Concrete-5.65.611.2Structural Steel1.29.39.319.9Mechanical15.1113.3113.3241.7Piping0.214.914.930.0Electrical-15.015.029.9Instrumentation0.12.92.95.9Architecture0.019.619.639.2Minor Mechanical4.72.42.49.4General Construction1.413.313.328.0Indirects-36.136.172.3Contingency5.860.960.9127.7Total Capital Expenditure(6)29.2304.7304.7638.6 (6) For modelling purposes, the total capital expenditure estimate for the PEA assumes use of an industry standard crystallizer instead of Buffalo's patent-pending Vortex Crystallizer.Sustaining capital of US$483 million (US$17/t MOP) over the life of mine comprises an annual provision of 2% of original fixed plant and surface infrastructure costs, plus US$10/t MOP for the drilling, completion and tie-in of replacement wells — the dominant component of sustaining capital — based on each set of three wells yielding 500,000 tonnes over an approximate 5-year useful life.Operating Expenses (OPEX)Buffalo Potash's estimated operating cost of US$55/t MOP reflects the structural advantages of operating in Saskatchewan, a mature potash jurisdiction with competitive industrial energy rates, an established skilled workforce, and existing road and rail infrastructure adjacent to the Disley Property enabling low-cost delivery to both domestic and export markets. Buffalo management anticipates these fundamentals position the Disley Project to be among the lowest-cost potash producers upon reaching full production.Table 4: OPEX SummaryItemDescription1,125,000 TPA(US$ million)IPM Contingency$14.49/t applied to IPM production only1.8Wellfield Power500 Hp at $0.063/kWh1.8Processing Power19,356 Hp at $0.063/kWh18.0Drilling$25,000/day; 45 days/yr0.1Pipes, Pumps, ValvesSteaming & general maintenance0.8InstrumentationMonitoring & controls0.4Labour32 staff7.8Natural Gas$386/1000m³ incl. carbon tax19.6Maintenance5% of major equipment capital5.4ReagentsDedust oil & anticake amines2.0Water$2.20/m³; 45 m³/hr1.3General & Admin SupervisionManagement & safety1.9Admin SuppliesOffice & admin supplies0.8Total Annual OPEX61.7OPEX US$/t MOP55 / tonne Economic AssumptionsThe economic analysis evaluates the Disley Project as a phased development consisting of the IPM to establish early cash flow, followed by the full-scale HLD Mine comprising Disley West and Disley East. The IPM was evaluated as a standalone project, with the HLD Mine (Disley East and Disley West) assessed on an incremental basis and in combination with the IPM as an overall project. A Discounted Cash Flow ("DCF") model was constructed with the following assumptions:All costs and revenues are expressed in constant, first quarter 2026 money terms, with no provision for escalation or inflation;Capital and operating cost estimates denominated in Canadian dollars have been converted to US dollars at an exchange rate of CAD 1.38 per USD;A discount rate of 8% has been applied on an all-equity basis;The pre-tax results presented include the Saskatchewan Potash Production Tax (PPT) and royalties but exclude federal and provincial corporate income tax. The after-tax results include corporate income tax (Saskatchewan 12%, Federal 15%);The IPM ramps up over 3 months at 50% of nominal capacity; Disley West and Disley East have a 6-month ramp-up period at 50% of capacity, with the Disley East being deferred by a 3-month offset from the West Section;It is assumed the IPM is scheduled to begin construction July 2026 with commercial operations starting January 2027;It is assumed that a positive construction decision will be reached on Disley West and Disley East. Disley West is scheduled to begin construction July 2027, with operations beginning July 2029. Construction at Disley East is scheduled to be the final facility developed, with construction beginning October 2027 and operations beginning October 2029;Soluble grade MOP produced by the IPM is sold locally, incurring a transport cost of US$10/t compared to US$43/t for export grade granular MOP railed FOB Vancouver; soluble grade MOP is priced at a US$20/t discount to granular, reflecting a life-of-mine average of US$373.6/t versus US$393.6/t FOB Vancouver;In addition to MOP, the IPM will produce 50,000 m³ per year of KCl brine that may be attractive to regional oilfield services customers at an average transport cost of US$10/m³;Payback period is measured from the start of construction to the point at which cumulative cash flow turns positive; andAlthough the project's mine life is anticipated to extend beyond a 25-year time frame, the NPV(1) and IRR(1) calculations reflect a 25-year "LoM" period.The primary input parameters for the DCF model are outlined in the table below.Table 5: Summary of Inputs for Economic AnalysisInput ParametersUnitValueEvaluation Base Date - IPMDate2026-07-01Evaluation Base Date - Disley East & Disley WestDate2027-07-01Sales: HLD Mine MOP Sales (granular)TPA1,000,000Sales: IPM MOP (soluble)TPA125,000Sales: KCl Brinem3/yr50,000Price: Granular MOP (FOB Vancouver) 25-year averageUS$/t394Price: Soluble MOP 25-year averageUS$/t374Price: KCl BrineUS$/m343Transport Costs: Granular MOPUS$/t43Transport Costs: Soluble MOPUS$/t10Transport Costs: KCl BrineUS$/m310Corporate Tax (Sask. + Canada)%27%Contingency for CAPEX%25%Discount Rate%8%NPV calculationYears25 The Disley East and Disley West mines have a start date of construction later than that of the Initial Production Module, and their IRR(1), NPV(1) and Payback periods are all calculated from that later date, while the overall Project results reflect the start date of the IPM. The individual IPM phase has a payback period of 1.1 years, while Disley East and Disley West each respectively have payback periods of 2.9 years. The total Project payback of 4.7 years reflects an earlier calculated start date at the time of first production at the IPM, prior to first production from Disley East and Disley West.Table 6: Summary of OutputsMetricUnitTotal ProjectInitial CAPEXUS$ million639OPEXUS$55 / tonnePre-Tax NPV(1) (8)US$ million1,534Pre-Tax IRR(1)%35%Post-Tax NPV(1) (8)US$ million1,085Post-Tax IRR(1)%30% The Disley ProjectThe Disley Project is located approximately 50km northwest of Regina and covers 10,610 hectares (Crown and Freehold mineral rights). The property is situated immediately adjacent to the east of the K+S Bethune potash solution mine and north of the Mosaic Belle Plaine potash solution mine — both of which are amongst the largest producing potash solution mines in the world. In the opinion of management, the Disley Project is in one of the most favorable areas of Saskatchewan for potash solution mining (see Figure 2) as evidenced by the success of these neighboring projects(6).Figure 2: The Disley Property Situated Amongst Major Potash Solution Mines(7)To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/12107/294332_592822e3642ebbb0_002full.jpgAbout Buffalo PotashBuffalo Potash is an emerging Saskatchewan-based potash developer pursuing a modular approach to selective solution mining through its patented Horizontal Line-Drive (HLD) technology. Buffalo is advancing the Disley Project — located next to several of the most prominent currently producing potash solution mines in the world — with the objective of establishing capital-efficient, lower-impact potash production in one of the world's leading potash jurisdictions.Qualified PersonThe scientific and technical information contained in this news release has been reviewed and approved by Douglas F. Hambley, PhD, PE, P.Eng., PG, an independent consultant of the Company and Qualified Person as defined under NI 43-101 Guidelines. Dr. Hambley is a globally recognized expert in potash geology and mine development and has assisted Micon in their preparation of the MRE and PEA.All related and pertinent information has also been reviewed for this news release by Jared Galenzoski, P.Geo, FIMMM as an independent consultant and Qualified Person as defined under NI 43-101. Mr. Galenzoski is also an expert in several potash-related fields and has assisted Micon in their preparation of the MRE and PEA.Technical Report and Qualified PersonsFor more information in respect of the Disley Project, including with respect to key assumptions, parameters, and methods used to estimate the MRE, data validation and QA/QC procedures, and the basis, qualifications and assumptions for the PEA, please refer to the entirety of the Technical Report prepared by Ryan Langdon, PhD, P.Geol.; Jack Nagy, PEng; Christopher Jacobs, CEng., MIMMM; and Richard Thompson, CEng, MiChemE. Each of the aforementioned persons is considered a "Qualified Person" for the purposes of NI 43-101 and has reviewed and approved the scientific and technical disclosure contained in this news release. No limitations were imposed on their verification process. Readers are cautioned to review the entirety of the PEA as it contains additional disclosures material to the matters discussed in this press release.Notes(7) The K+S Bethune potash solution mine and north of the Mosaic Belle Plaine potash solution mine (together, the "Adjacent Properties") may each be considered an "adjacent property" (within the meaning of NI 43-101) to the Company's Disley Project. The Company does not have any interest in either of the Adjacent Properties. The Company believes this context is useful in illustrating the proven endowment of the district, while noting that mineralization on adjacent or nearby properties is not indicative of mineralization on the Company's Disley Project. There is no guarantee that the Disley Project will yield comparable results to any of these mines.ContactSteve Halabura, P.Geo. | Chief Executive Officer & DirectorEmail: steve@buffalopotash.ca | Phone: 1-306-220-7715(1) Non-GAAP Financial MeasuresNet Present Value ("NPV") and internal rate of return ("IRR") are forward-looking financial measures used by management to evaluate the economic potential of the Disley Project, as estimated in the PEA. These measures do not have standardized definitions under IFRS and may not be comparable to similar measures disclosed by other issuers.NPV represents the sum of discounted future after-tax cash flows projected over the 25-year evaluation period at a discount rate of 8%, net of initial and sustaining capital expenditures. The most comparable IFRS measure is net income (loss); however, NPV is a forward-looking measure that reflects projected future cash flows and cannot be directly reconciled to historical net income. IRR represents the discount rate at which NPV equals zero across the project's projected cash flows.These measures should not be construed as alternatives to net income, comprehensive income, or cash flows from operations as determined in accordance with IFRS. Readers are cautioned that these measures reflect PEA-level estimates and are subject to the risks and uncertainties disclosed under "Forward-Looking Information" below.Forward-Looking InformationThis news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-looking information is generally identifiable by the use of words such as "believes," "may," "plans," "will," "anticipates," "intends," "could," "estimates," "expects," "forecasts," "projects," "targets," "schedules," or similar expressions, and the negative of such expressions.Forward-looking information in this news release includes, but is not limited to, statements regarding: the results, assumptions, and projections contained in or derived from the PEA and Mineral Resource Estimate for the Disley Project, including projected production rates, capital and operating costs, NPV, IRR, payback periods, and mine life; the anticipated timing and phasing of construction and commercial production for the IPM, Disley East, and Disley West; the Company's ability to secure permitting, financing, and all necessary regulatory approvals; the anticipated cost and technical performance of the HLD Mining method; expectations regarding MOP and soluble grade potash pricing, transportation costs, and market access; and the Company's broader development plans and strategy for the Disley Project.Forward-looking information is based on management's reasonable assumptions, estimates, analysis, and opinions made in light of its experience and perception of historical trends, current conditions, and expected future developments, as well as other factors that management believes are relevant and reasonable in the circumstances as of the date such statements are made. Key assumptions underlying the forward-looking information include, but are not limited to: the accuracy of the Mineral Resource Estimate and PEA, including geological, engineering, and cost assumptions; no material adverse changes to commodity prices, exchange rates, or tax and royalty regimes; the availability of financing on acceptable terms; the Company's ability to obtain necessary permits and approvals on anticipated timelines; and the continued availability of equipment, personnel, and infrastructure.Forward-looking information is subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied, including: the inherent uncertainty of PEA-level studies and the possibility that actual capital costs, operating costs, and production rates differ materially from estimates; changes in potash or fertilizer market prices; fluctuations in currency exchange rates, particularly the Canadian dollar relative to the US dollar; the risk that permitting, financing, or regulatory approvals are not obtained on anticipated timelines or at all; risks related to the development, commissioning, and operation of novel mining technology; risks inherent to solution mining operations; and general business, economic, competitive, political, and social risks and uncertainties.A PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the PEA will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. The forward-looking information contained herein is made as of the date of this news release, and the Company disclaims any obligation to update or revise such information except as required by applicable securities laws.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/294332 Copyright 2026 ACN Newswire via SeaPRwire.com. All rights reserved. www.acnnewswire.com

ACN Newswire

Standard Chartered GBA Business Confidence Indices highlight resilience of GBA corporates despite Middle East uncertainties

2026-04-27

HONG KONG, Apr 27, 2026 - (ACN Newswire via SeaPRwire.com) - Standard Chartered and the Hong Kong Trade Development Council (HKTDC) jointly released the latest Standard Chartered Greater Bay Area Business Confidence Index (GBAI), revealing that business sentiment among companies in the Greater Bay Area (GBA) remained stable in the first quarter of 2026 despite ongoing geopolitical and trade headwinds, notably oil price shocks and continued repercussions from the Middle East conflict.Maintaining Momentum Amid HeadwindsThe Q1 findings largely captured activity and business sentiment since the Middle East conflict began in late February, which has remained highly uncertain and weighed on overall business and market sentiment.Despite a reduced appetite for expansion amid persistent geopolitical uncertainties, business sentiment remained steady across the GBA. The “current performance” index for business activity in Q1 edged down marginally to 49.9 from 50.3 in the previous quarter, while the “expectation” index moderated to 50.4 from 51. Both indices hovered around the 50-neutral mark, indicating GBA corporates’ resilience, supported by favourable policies announced by the Chinese Government aimed at boosting the domestic economy, which in turn would partially offset the fallout of the Middle East conflict.The “current performance” index came down mainly driven by “raw material inventory”, “fixed asset investment” and “financing scale”. The latter two readings were believed to reflect more cautious sentiment among businesses in light of the Middle East conflict. Meanwhile, “production/ sales”, “prices of finished goods/ services” and “profits” all experienced quarter-on-quarter expansion.The “expectations” index remained modestly positive, despite heightened external uncertainties. “New orders” held steady at 51.5, while “prices of finished good/ services” rose to 58.5. However, “profits” fell below the 50-watershed level, implying surveyed companies did not view price increases as sufficient to offset a likely rise in energy and material costs.Hong Kong to Sustain a Still-solid Growth PaceBy city, Hong Kong is expected to maintain a solid performance going forward. Although both the “current” and “expectation” sub-indices edged down to 52.7, these readings still comfortably stayed in expansionary territory, supported by improvements in “financial services” and “innovation and technology” sectors.Tommy Wu, Senior Economist, Greater China and North Asia, Standard Chartered, said: “In addition to the initial impact of surging global energy and freight costs, there are concerns about second-round impacts, such as higher input costs and weaker global demand. This is aligned with the latest reading, which shows a 2.3-point decline in “new export orders” to 47.5 for “current performance”, indicating a more cautious outlook for export demand. With the prolonged Middle East conflict, we anticipate global energy prices to be higher for longer and the second-round effects to become more visible in the coming months. These will likely weigh on business sentiment and appetite on making fixed investment. Nevertheless, Hong Kong has once again demonstrated its resilience amid market turbulence, and such resilience is expected to attract more global capital into HKD and Renminbi assets as safe-haven allocation.”Demand-boosting Measures Favour GBA BusinessesThe survey also investigated the impacts of a series of supportive policies from the Chinese government aimed at stimulating domestic demand in its thematic section. Among the new policy measures introduced by the Ministry of Finance in January, most respondents cited “loan interest subsidies for small, medium and micro-sized enterprises” (38.4%), “large-scale equipment upgrade subsidies” (36.9%) and “consumer goods trade-in subsidies” (31.7%) as the top domestic demand-boosting policies likely to have the most positive impact on their business.Wing Chu, Deputy Director of Research, HKTDC, said: “Demand-boosting stimulus is generating tangible benefits for GBA companies, helping to cushion external challenges amid the Middle East conflict. Targeted support, including loan interest subsidies, alongside measures aimed at stimulating consumer spending, is underpinning demand and supporting business activity across the GBA. Overall, policy-led demand support continues to serve as a meaningful tailwind for GBA businesses. While cost pressures and market competition remain key concerns, respondents are considering stepping up investment in talent and market promotion to sustain further business growth.”While many respondents believe stimulative policies could benefit their businesses by boosting online sales (36.6%) and reducing operating costs (33.8%), challenges faced by GBA corporates remain. Specifically, 54.9% of respondents identified labour costs as the biggest pressure point for their businesses, followed by rental costs (41.7%) and market competition (33.3%). Zooming into Hong Kong respondents, market competition was viewed as a more pressing challenge than rental costs, likely due to the increase in cross-border travel and change in consumption behaviours in recent years. In these circumstances, 38.7% would prioritise their investment in talent recruitment, followed by market promotion (38.1%) and personnel training (36.7%).About the GBAIThe GBAI is the first forward-looking quarterly survey in the market that looks at the business sentiment and synergistic effects in cities and industries across the GBA. It is compiled based on a survey of more than 1,000 companies in the GBA covering the manufacturing and trading, retail and wholesale, financial services, professional services and innovation and technology sectors. The index enables investors and businesses to better understand the current business climate, gauge future performance prospects and formulate their market strategies for the GBA.Related materialsStandard Chartered GBA Business Confidence Index Report: https://www.sc.com/hk/gba/gba-index-report/HKTDC Research: https://research.hktdc.com/en/article/MjMwNjM2MTgxMQReport and photos download: https://bit.ly/4u3izEMWing Chu, Deputy Director of Research, HKTDC (right), and Tommy Wu, Senior Economist, Greater China and North Asia, Standard Chartered (left), announced the latest GBA Business Confidence Index (GBAI) on 27 April 2026.Media enquiriesCorporate Affairs DepartmentStandard Chartered Bank (Hong Kong) Limited Flora Chiu Tel: (852) 3843 2285 Email: flora.chiu@sc.com Communications & Public Affairs DepartmentHKTDC Christy LeeClayton Lauw Tel: (852) 2584 4369Tel: (852) 2584 4472Email: christy.wn.lee@hktdc.orgEmail: clayton.y.lauw@hktdc.orgAbout Standard CharteredWe are a leading international banking group, with a presence in 54 of the world’s most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.The history of Standard Chartered in Hong Kong dates back to 1859. It is currently one of the Hong Kong SAR’s three note-issuing banks. Standard Chartered incorporated its Hong Kong business on 1 July 2004, and now operates as a licensed bank in Hong Kong under the name of Standard Chartered Bank (Hong Kong) Limited, a wholly owned subsidiary of Standard Chartered PLC.For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on X, LinkedIn, Instagram and Facebook.About HKTDCThe Hong Kong Trade Development Council (HKTDC) celebrates its 60th anniversary this year. The HKTDC is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With over 50 offices globally, including 13 in the Chinese Mainland, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on @hktdc and LinkedIn Copyright 2026 ACN Newswire via SeaPRwire.com. All rights reserved. www.acnnewswire.com

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