Market Signal Briefing

Chinese e-commerce giant JD.com has launched a new online retail platform in Europe as it accelerates its global expansion strategy and seeks new growth opportunities beyond its fiercely competitive domestic market.

The Beijing-based company on Monday introduced Joybuy, an online shopping platform that will operate across six European markets: the United Kingdom, France, Germany, the Netherlands, Belgium and Luxembourg.

The move places JD.com in direct competition with global e-commerce leader Amazon as well as Chinese rivals expanding rapidly across Western markets.

Why is JD.com expanding into Europe?Chinese retailers and brands have increasingly looked overseas for growth as weak consumer demand and intense price competition weigh on the domestic market.

JD.com has been actively exploring ways to strengthen its presence in Europe.

Last year, the company agreed to acquire Ceconomy, the owner of electronics chains MediaMarkt and Saturn, in a deal valued at about €2.2 billion.

The launch of Joybuy marks the company’s latest effort to build a broader international retail footprint.

The platform will sell products across categories such as technology, home appliances, beauty, groceries and homeware.

It will also feature dedicated online storefronts for global brands including L'Oréal, Braun, DeLonghi, BRITA and Bodum.

JD.com said products on the platform would be offered at competitive prices as it attempts to attract European consumers.

Joybuy to focus on fast deliveryA central pillar of the company’s strategy is fast delivery enabled by its logistics infrastructure.

Matthew Nobbs, managing director of Joybuy UK, said orders placed before 11 am in major cities will arrive the same day, while orders placed before 11 pm are expected to be delivered the following day.

More than 15 million households across Europe and the UK will be covered by same-day delivery at launch.

The platform will also introduce a subscription service called JoyPlus, offering unlimited free deliveries for a monthly fee of €3.99 or £3.99, positioning it as a competitor to Amazon’s Prime membership.

Standard delivery will be free for orders above €29 or £29.

JD.com’s logistics-heavy model differs from many rival Chinese platforms operating internationally.

Competing with established rivals like AliExpress, TemuWhile platforms such as AliExpress and Temu ship products directly from China using an asset-light marketplace model, JD.com relies on local warehouses and its own distribution network to shorten delivery times.

The company said the European expansion includes around 60 warehouses and depots along with its own last-mile delivery service, though it did not disclose the total investment involved.

The model mirrors JD’s approach in China, where its extensive logistics infrastructure has enabled rapid deliveries and helped position the company as a key marketplace for international brands such as Apple.

JD.com had previously explored acquisitions in the UK retail sector as part of its expansion plans.

In 2024, it examined a takeover of electricals retailer Currys but later abandoned the proposal.

The company also held discussions with Sainsbury's about acquiring its Argos business, though those talks did not result in a deal.

Industry observers say JD.com is entering a crowded European market that already includes dominant players like Amazon alongside fast-growing Chinese platforms.

Joybuy, however, is attempting to differentiate itself by acting as a first-party retailer that owns much of the inventory it sells rather than relying primarily on third-party merchants.

“We’re a first-party retailer and that makes us very different from other platforms,” Nobbs said in an interview with CNBC, adding that the company’s focus is on directly working with brands rather than shipping low-value goods under “de minimis” import rules.

As Chinese e-commerce companies expand globally, JD.com is betting that its logistics-driven retail model can help it gain ground in one of the world’s most competitive online shopping markets.

HONG KONG, HK / ACCESS Newswire / March 16, 2026 / SouthGobi Resources Ltd. (TSX-V:SGQ)(HK:1878) ("SouthGobi" or the "Company") announces that the Company's board of directors will consider and approve the financial and operating results of the Company and its subsidiaries for the fourth quarter and the year ended December 31, 2025 on Friday, March 27, 2026. These results will be released on Friday, March 27, 2026.

By order of the Board
SouthGobi ResourcesLtd.
Yingbin Ian He
Lead Director

Hong Kong: March 16, 2026

As at the date of this announcement, the executive directors of the Company are Mr. Ruibin Xu, Ms.Chonglin Zhu and Mr. Chen Shen; the independent non-executive directors of the Company are Mr.Yingbin Ian He, Ms. Jin Lan Quan and Mr. Fan KeungVic Choi; and the non-executive directors of the Company are Mr. Zhu Gao and Mr. ZaixiangWen.

About SouthGobi

SouthGobi, listed on the Toronto and Hong Kong stock exchanges, owns and operates its flagship Ovoot Tolgoi coal mine in Mongolia. It also holds the mining licences of its other metallurgical and thermal coal deposits in South Gobi region of Mongolia. SouthGobi produces and sells coal to customers in China.

Contact:

Investor Relations
Email: [email protected]

Mr. Ruibin Xu
Chief Executive Officer
Office: +852 2156 1438 (Hong Kong)
Website: www.southgobi.com

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.

SOURCE: SouthGobi Resources Ltd.

This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. Each of the company logos represented herein are trademarks of Microsoft Corporation; Dow Jones & Company; Nasdaq, Inc.; Forbes Media, LLC; Investor's Business Daily, Inc.; and Morningstar, Inc.

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Joerg Hiller Mar 16, 2026 09:37

TON Price Prediction Summary • Short-term target (1 week): $1.37 • Medium-term forecast (1 month): $1.30-$1.40 range • Bullish breakout level: $1.37 • Critical support: $1.27 What Crypto Ana...

TON Price Prediction Summary • Short-term target (1 week): $1.37 • Medium-term forecast (1 month): $1.30-$1.40 range
• Bullish breakout level: $1.37 • Critical support: $1.27

What Crypto Analysts Are Saying About Toncoin While specific analyst predictions are limited for TON in recent weeks, on-chain metrics and technical data provide valuable insights into potential price movements. According to market data from major exchanges, Toncoin has shown resilience above the $1.30 support zone, with trading volume maintaining steady levels around $4.65 million on Binance spot markets.

The lack of recent high-profile analyst calls on TON suggests the token is currently flying under the radar of major crypto influencers, which could present opportunities for patient investors who focus on technical fundamentals rather than hype-driven movements.

TON Technical Analysis Breakdown Toncoin's current technical picture presents a mixed but cautiously optimistic outlook. At $1.33, TON is trading slightly above its 20-day simple moving average of $1.30, indicating short-term bullish momentum. However, the token remains well below its 200-day SMA of $1.94, highlighting the longer-term downtrend that began in late 2024.

The RSI reading of 49.62 places TON in neutral territory, suggesting neither overbought nor oversold conditions. This neutral momentum provides flexibility for price movement in either direction based on market catalysts. The MACD histogram at 0.0000 shows bearish momentum has stalled, potentially setting up for a reversal if buying pressure increases.

TON's position within the Bollinger Bands is particularly noteworthy. With a %B reading of 0.6944, the token is positioned in the upper portion of its recent trading range, approaching the upper band at $1.37. This positioning suggests building bullish pressure that could lead to a breakout above resistance levels.

The daily Average True Range (ATR) of $0.05 indicates moderate volatility, providing reasonable profit potential without excessive risk for swing traders.

Toncoin Price Targets: Bull vs Bear Case Bullish Scenario In the bullish case for this TON price prediction, a break above the immediate resistance at $1.35 would likely trigger momentum toward the strong resistance level at $1.37. This represents the upper Bollinger Band and a key technical level that has capped recent rallies.

Should TON successfully clear $1.37 with strong volume, the next logical target would be the 50-day moving average at $1.36 acting as support, with potential extension toward $1.45-$1.50. This Toncoin forecast assumes continued stability in the broader crypto market and potential positive developments in the TON ecosystem.

The bullish thesis gains strength from TON's position above multiple short-term moving averages, suggesting the recent downtrend may be losing steam. A sustained move above $1.35 would confirm this shift in momentum.

Bearish Scenario The bearish case for TON centers around the significant gap between current price levels and the 200-day moving average at $1.94. This substantial distance suggests the long-term trend remains bearish, and any rallies could be viewed as temporary corrections within a larger downtrend.

Key support levels to watch include the immediate support at $1.30 (20-day SMA) and the stronger support zone around $1.27. A break below $1.27 would likely trigger selling pressure toward the lower Bollinger Band at $1.23.

The most concerning bearish scenario would see TON fail to hold above $1.23, which could open the door to a test of psychological support around $1.20 or lower.

Should You Buy TON? Entry Strategy Based on current technical conditions, patient investors might consider a layered entry strategy. The first entry point could be near the current 20-day moving average support at $1.30, which has provided solid support in recent sessions.

For more aggressive traders, a breakout entry above $1.35 with confirmed volume could provide better risk-to-reward ratios, targeting the $1.37-$1.40 range. This approach requires quick execution and tight risk management.

Conservative investors should wait for a clear break and hold above $1.37 before considering positions, as this would confirm the bullish breakout scenario in this TON price prediction.

Stop-loss levels should be placed below $1.27 for most positions, as this represents the breakdown of the current consolidation pattern. Position sizing should account for the moderate volatility indicated by the ATR reading.

Conclusion This TON price prediction suggests Toncoin is at a critical juncture, with technical indicators pointing toward potential upside in the coming weeks. The neutral RSI and stalled bearish momentum create conditions favorable for a move toward $1.37-$1.40 by the end of March 2026.

However, the broader downtrend from 2024 highs remains intact, requiring strong volume and momentum to confirm any sustainable reversal. This Toncoin forecast carries moderate confidence given the mixed technical signals and lack of clear fundamental catalysts.

Disclaimer: Cryptocurrency price predictions are highly speculative and subject to extreme volatility. This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research and consider your risk tolerance before investing.

Image source: Shutterstock

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Tony Kim Mar 16, 2026 09:43

FLOKI shows bullish momentum with 7.83% daily gains and RSI at 58.91. Technical analysis suggests potential rally to $0.000035-$0.000038 range if current support holds.

Floki (FLOKI) has emerged as one of today's notable performers with a 7.83% surge, sparking renewed interest among meme coin traders. With current trading dynamics showing mixed signals, our FLOKI price prediction analyzes the technical landscape to identify potential price targets for the coming weeks.

FLOKI Price Prediction Summary • Short-term target (1 week): $0.000035 • Medium-term forecast (1 month): $0.000032-$0.000038 range
• Bullish breakout level: Above $0.000038 • Critical support: $0.000030

What Crypto Analysts Are Saying About Floki While specific analyst predictions are limited in recent market commentary, historical analysis from December 2025 projected a recovery to the $0.000055–$0.000185 range, indicating significant upside potential from current levels. However, this projection may need recalibration given evolving market conditions.

According to on-chain data, FLOKI has maintained relatively stable trading patterns despite broader market volatility. The token's resilience during recent market corrections suggests underlying strength in its holder base.

FLOKI Technical Analysis Breakdown Current technical indicators present a mixed but cautiously optimistic picture for FLOKI. The daily RSI reading of 58.91 positions the token in neutral territory, avoiding both overbought and oversold extremes that typically signal reversal points.

The MACD analysis reveals bearish momentum with a histogram reading of 0.0000, suggesting consolidation rather than strong directional movement. However, the recent 7.83% daily gain indicates potential shift in sentiment.

Perhaps most notably, FLOKI's Bollinger Band position at 1.16 shows the token trading near the upper band, indicating recent strength but also approaching potential resistance levels. The Stochastic indicators support this view, with %K at 84.37 and %D at 67.50, suggesting momentum remains positive but may be approaching overbought conditions.

Floki Price Targets: Bull vs Bear Case Bullish Scenario In the bullish case, FLOKI could target the $0.000035-$0.000038 range within the next two weeks. This Floki forecast is based on the current momentum and the token's ability to maintain support above recent lows.

Key technical confirmation would include RSI breaking above 65 while maintaining support above the 20-day moving average. A sustained break above the upper Bollinger Band could trigger additional buying pressure, potentially pushing prices toward the higher end of our target range.

Bearish Scenario The bearish scenario sees FLOKI potentially retracing to support levels around $0.000028-$0.000030. This downside target becomes relevant if the current momentum fails to sustain and selling pressure increases.

Risk factors include the MACD's bearish histogram reading and the possibility of profit-taking near current resistance levels. A break below key support levels could extend the decline toward $0.000025.

Should You Buy FLOKI? Entry Strategy For traders considering FLOKI positions, the current technical setup suggests waiting for either a confirmed breakout above $0.000035 or a pullback to support levels around $0.000030-$0.000031.

Entry points should focus on these key levels with stop-losses positioned below $0.000028 to limit downside risk. Given the token's volatility, position sizing should account for potential 15-20% intraday moves.

Risk management remains crucial, as meme coin markets can experience rapid reversals. Consider taking partial profits if FLOKI reaches the upper end of our price targets.

Conclusion Our FLOKI price prediction suggests cautious optimism for the coming weeks, with technical indicators supporting a potential move toward $0.000035-$0.000038. However, the mixed signals from momentum indicators warrant careful position management.

The 7.83% daily gain provides short-term bullish bias, but traders should remain alert to potential resistance near current levels. This Floki forecast carries a moderate confidence level given the inherent volatility in meme coin markets.

Disclaimer: Cryptocurrency price predictions are speculative and based on technical analysis. Digital assets are highly volatile and past performance does not guarantee future results. Always conduct your own research and consider your risk tolerance before investing.

Image source: Shutterstock

floki price analysis floki price prediction

4 mins mins

Aave CoW Swap $50M incident: user-confirmed slippage on thin liquidityA large buy order for AAVE, approximately $50 million in USDT, was submitted through Aave’s swap interface, which routes via CoW Protocol. The interface displayed severe slippage risk, the user confirmed, and the trade executed on-chain.

Because the order hit thin liquidity on the route, price impact was extreme and most value was lost to slippage. Block builders and MEV participants captured a significant share of that slippage during settlement.

Post-incident write-ups from Aave and CoW Swap diverged on responsibility and design lessons. The debate centers on user-confirmed slippage versus solver constraints, liquidity visibility, and where product revenue should accrue in the Aave ecosystem.

The mechanics matter: solvers try to clear orders across venues, but if depth is shallow, execution can occur at catastrophic prices. In such conditions, MEV capture compounds losses as builders reorder and backrun value.

Public statements have emphasized that the interface warned about extraordinary slippage and that fees collected would be returned to the affected address. “A user tried to buy AAVE using ~$50M in USDT… the interface warned of ‘extraordinary slippage’… Aave will refund approximately $600,000 in collected fees,” said Stani Kulechov, founder of Aave, on Reddit (https://www.reddit.com/r/ethereum/comments/1rrhp2n/dailygeneraldiscussionmarch122026/?utmsource=openai).

As reported by Cointelegraph, prominent delegates criticized the redirection of swap fees to an address controlled by Aave Labs instead of the aave dao, and questioned a related $50 million grant proposal (https://cointelegraph.com/news/firestorm-erupts-aave-governance-cowswap-fees//?utm_source=openai). The concerns highlight product-versus-protocol boundaries and accountability.

According to CoinCatch Academy, community estimates suggest the rerouted fees could be on the order of $200,000 per week, implying a significant annual impact if unchanged (https://www.coincatch.com/en/academy/819?utm_source=openai). The figures frame the scale of the Aave DAO fee revenue dispute.

Immediate impact: refunds, slippage protection, MEV, and revenue routing reviewsRefunds are proceeding for fees associated with the problematic swap. The amount cited publicly is roughly $600,000, while the core on-chain slippage loss remains irreversible.

Workstreams are focusing on slippage protection, including hard caps for large notional orders and default ceilings that cannot be bypassed. Additional safeguards under review include solver-side thresholds for pool depth and route viability.

Community discussions also encompass MEV exposure and transparency around revenue routing. As reported by MEXC News, some delegates have called for independent audits and stronger DAO oversight of brand assets and front-end operations (https://www.mexc.co/news/328051?utm_source=openai).

Safeguards and governance changes: Aave Labs, CoW Protocol, Aave DAOMEV and slippage protection: proposed safeguards and solver limitsThe incident underscored the need for layered defenses against tail-risk execution. Proposals under discussion include non-bypassable maximum slippage, pool-depth checks, and solver limits that reject routes through exceptionally shallow liquidity.

These changes would complement existing MEV protections by preventing execution paths that invite outsized extraction. Combined UI warnings and solver guardrails aim to constrain price impact even when users attempt to accept high slippage.

Revenue routing transparency and product-versus-protocol definitionsAccording to Aave Labs, the front-end interface and swap adapters are a “product” distinct from the DAO-governed “protocol,” a framing used to justify ownership of product revenue (https://aave.com/blog/aave-cow-swap?utm_source=openai). Aligning definitions with on-chain routing could clarify which fees accrue to the DAO versus a vendor.

Delegates seek transparent, verifiable revenue paths and disclosures that separate commercial arrangements from governance-controlled economics. Clear taxonomy may help de-escalate disputes and inform any future funding negotiations.

FAQ about Aave CoW Swap $50M incidentWas this a hack or user-confirmed slippage, and what warnings did the interface provide?Not a hack. The interface displayed “extraordinary slippage” warnings, and the user confirmed before execution, according to public statements and post-incident commentary.

Why did the solver route through a low-liquidity SushiSwap pool and could it have been prevented?It routed into thin liquidity, causing extreme price impact. Proposed fixes include hard slippage caps, pool-depth thresholds, and solver limits to block catastrophic routes.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Terrill Dicki Mar 16, 2026 09:49

Curve (CRV) shows technical recovery signs at $0.25 with analyst targets of $0.27. Neutral RSI and key resistance at $0.26 suggest 8% upside potential within weeks.

Curve DAO Token (CRV) is displaying early signs of technical recovery as it trades at $0.2467, showing a modest 5.15% gain in the past 24 hours. With recent analyst predictions pointing toward $0.27 targets and neutral technical indicators, the DeFi token appears positioned for a potential breakout from its current consolidation phase.

CRV Price Prediction Summary • Short-term target (1 week): $0.26
• Medium-term forecast (1 month): $0.25-$0.27 range
• Bullish breakout level: $0.26
• Critical support: $0.23

What Crypto Analysts Are Saying About Curve Recent analyst coverage has shown cautious optimism for CRV's price trajectory. Caroline Bishop noted on March 10, 2026: "Curve (CRV) shows technical recovery signs at $0.25 with analyst targets of $0.26-$0.27. Neutral RSI and key support levels suggest 12% upside potential within weeks."

Similarly, Rongchai Wang observed on March 9, 2026: "Curve (CRV) shows technical recovery signs at $0.24 with analyst targets of $0.26-$0.27. Neutral RSI and key support levels suggest potential 12% upside within weeks."

Both analysts converge on the $0.27 target, representing approximately 8-12% upside from current levels. The consistency in these Curve forecast targets suggests a technical consensus around key resistance levels.

CRV Technical Analysis Breakdown The current CRV price prediction is supported by several technical indicators showing neutral to slightly bullish conditions:

RSI Analysis: At 49.87, CRV's RSI sits firmly in neutral territory, indicating neither overbought nor oversold conditions. This balanced momentum suggests room for upward movement without immediate resistance from technical indicators.

Moving Average Position: CRV trades above its 7-day ($0.24) and 20-day ($0.24) simple moving averages, indicating short-term bullish momentum. However, it remains below the 50-day SMA at $0.26, which aligns with the identified resistance level.

MACD Signals: The MACD histogram shows 0.0000, suggesting a potential inflection point where bearish momentum may be exhausting. The MACD line at -0.0057 remains slightly negative but close to neutral territory.

Bollinger Bands: With a %B position of 0.6196, CRV trades in the upper portion of its Bollinger Band range, approaching the upper band resistance at $0.26. This positioning supports the analyst targets around this level.

Curve Price Targets: Bull vs Bear Case Bullish Scenario In an optimistic scenario, CRV could target $0.27 if it successfully breaks above the $0.26 resistance level. This breakout would need to be confirmed by: - RSI moving above 55-60 range - MACD turning positive with histogram showing green bars - Volume expansion above the current $6.04 million daily average

A sustained break above $0.26 could open the path toward the next significant resistance near $0.30, representing a 20% gain from current levels.

Bearish Scenario Should selling pressure intensify, CRV faces critical support at $0.23 (Bollinger Band lower bound). A break below this level could trigger further downside toward: - $0.22 (psychological support) - $0.20 (major support zone)

Risk factors include broader crypto market weakness, DeFi sector rotation, or protocol-specific concerns that could pressure CRV below key technical levels.

Should You Buy CRV? Entry Strategy Based on current technical levels, potential entry strategies include:

Conservative Approach: Wait for a pullback to $0.24 support with confirmation of buying interest before entering positions.

Momentum Play: Enter on a confirmed break above $0.26 with stop-loss at $0.24, targeting $0.27-$0.28.

Risk Management: Given the $0.01 Average True Range, position sizing should account for potential 4-5% daily volatility. Stop-loss levels below $0.23 would help limit downside risk.

Conclusion The CRV price prediction points toward cautious optimism with $0.27 representing a realistic near-term target. Technical indicators support the analyst forecasts, with neutral RSI providing room for upward movement and key resistance at $0.26 offering a clear breakout level.

However, the broader crypto market environment and CRV's position significantly below its 200-day moving average at $0.46 suggest a measured approach. This Curve forecast carries moderate confidence given the convergence of technical and analyst targets, but traders should remain vigilant of support levels and broader market conditions.

This analysis is for informational purposes only and should not be considered financial advice. Cryptocurrency investments carry significant risk, and past performance does not guarantee future results.

Image source: Shutterstock

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TLDR Venus Protocol, a major lending platform on BNB Chain, suffered a loss exceeding $3.7 million due to THE token price manipulation. Hackers utilized a “donation attack” technique to circumvent Venus’s supply limitations by transferring tokens directly to the smart contract. The malicious actors used artificially inflated THE tokens as collateral to withdraw CAKE, USDC, BNB, and Bitcoin. Venus Protocol implemented emergency measures, freezing all THE token borrowing and withdrawal operations during their ongoing investigation; approximately $2.15 million in uncollateralized debt remains. The exploitation method matches a previously identified security weakness in Compound-based lending protocols that Venus’s team had previously downplayed despite audit warnings. On Sunday, Venus Protocol, which operates as the dominant lending service on BNB Chain, became the target of a sophisticated price manipulation scheme focused on THE, the native token of Thena.

🚨 We have identified unusual activity involving the $THE pool and are actively investigating.

At this time, only the $THE and $CAKE markets appear to be affected.

We will share updates as our investigation progresses. We appreciate your patience and support.

— Venus Protocol (@VenusProtocol) March 15, 2026

The malicious actor artificially inflated THE’s market value from approximately $0.27 to nearly $5 by taking advantage of limited on-chain liquidity. Their strategy involved depositing THE tokens as collateral, withdrawing alternative assets, purchasing additional THE with those borrowed funds, and cycling through this process as Venus’s price oracle continuously adjusted to the manipulated market value.

The perpetrator circumvented Venus’s established supply restrictions on THE through a donation attack methodology. This involved sending THE tokens directly into the vTHE smart contract rather than using standard deposit mechanisms. The technique artificially elevated the exchange rate recognized by the protocol’s system, effectively nullifying the supply cap controls.

Leveraging the artificially valued THE as backing, the exploiter withdrew 6.67 million CAKE tokens, 1.58 million USDC, 2,801 BNB, and 20 Bitcoin from the protocol.

Total damages from the incident exceed $3.7 million, as reported by Wu Blockchain. Independent blockchain researcher EmberCN calculated the outstanding bad debt at approximately $2.15 million, consisting of 1.18 million CAKE tokens and 1.84 million THE tokens.

The wallet address responsible for the attack received its initial funding of 7,400 ETH through Tornado Cash, a cryptocurrency mixing platform.

Venus Protocol announced via X that they detected “unusual activity” within the THE liquidity pool and suspended all THE borrowing and withdrawal functions as a safety measure during their ongoing examination.

The Attacker May Have Lost Money The exploitation attempt didn’t unfold as smoothly as intended. Following the first borrowing cycle, Venus’s time-weighted average price oracle had only adjusted THE’s valuation to approximately $0.50, significantly lower than the artificially pumped market price.

The attacker persisted, continuing to acquire THE using borrowed capital. However, selling pressure proved overwhelming. The attacker’s account health factor declined toward 1, activating liquidation protocols.

THE tokens were sold into an orderbook with virtually no liquidity depth. The token’s value plummeted to roughly $0.24, falling beneath its pre-attack valuation. Weilin Li, an on-chain security researcher who initially identified the attack, suggested the perpetrator likely generated minimal on-chain profit and potentially incurred a net loss.

A History of Bad Debt at Venus This incident isn’t Venus Protocol’s first encounter with losses stemming from price manipulation tactics. A manipulation scheme involving its native XVS token in 2021 resulted in over $95 million in bad debt accumulation.

The platform also absorbed $14 million in uncollateralized debt during the Terra/LUNA collapse in 2022. A donation attack targeting Venus’s ZKSync implementation in February 2025 generated over $700,000 in bad debt using virtually identical exploitation techniques to Sunday’s incident.

The donation attack vulnerability exploited in this breach represents a documented security flaw in Compound-forked lending protocols. Venus’s Code4rena security assessment had specifically identified this risk, though the development team challenged the severity of the finding at that time.

As of this publication, THE was valued at $0.2255, representing a decline of more than 17% over the preceding 24-hour period.

TLDR DeFi history’s most devastating execution loss occurred March 12 when a trader converted over $50 million USDT into AAVE tokens through Aave’s platform, receiving merely $36,000 in value. While Aave pointed to market liquidity issues, CoW Swap’s analysis uncovered multiple infrastructure breakdowns, including outdated gas limits blocking superior trading quotes. The top-performing solver secured two consecutive auction wins but never executed transactions, forcing the order through the least favorable option available. Evidence suggests mempool exposure may have allowed MEV bots to capture approximately $34 million, while another bot profited nearly $10 million through sandwich attack tactics. Aave’s new security feature, “Aave Shield,” will prevent trades exceeding 25% price impact from executing automatically. A devastating transaction unfolded on Aave’s decentralized platform March 12, when a trader exchanged $50.4 million in aEthUSDT tokens for approximately $36,000 worth of AAVE. The transaction flowed through CoW Swap, a decentralized exchange embedded within Aave’s user interface.

Statement from CoW Protocol:

Earlier today, a trader attempted to swap 50M aEthUSDT for aEthAAVE through Aave's swap interface, which is powered by CoW Protocol. Despite clear warnings that showed the user they would lose nearly all of the value of their transaction, and despite… https://t.co/Pav4udXUkX

— CoW DAO (@CoWSwap) March 13, 2026

Post-mortem analyses from both organizations appeared Saturday, March 15. While the teams concur on fundamental details, their explanations for the disastrous outcome diverge significantly.

According to Aave, insufficient market liquidity stood as the primary culprit. The transaction passed through a SushiSwap liquidity pool containing merely $73,000 in total depth.

The trader received explicit notification stating “High price impact (99.9%)” before finalizing the transaction. Additionally, they manually confirmed acceptance of potential 100% value erosion through a checkbox, which Aave verified through internal records.

The user completed this transaction via mobile device despite these cautionary signals. Aave reports the affected assets remain frozen, and no communication has been received from the affected party.

Infrastructure Breakdowns at CoW Swap Amplified the Catastrophe CoW Swap’s investigation revealed deeper systemic problems that escalated a problematic trade into a historical disaster.

Three solvers provided quotes during the initial phase. The most competitive options would have delivered approximately $5 to $6 million in AAVE value — representing roughly 90% loss, yet substantially better than the actual result.

Yet CoW Swap’s quote validation infrastructure employed a fixed gas limit of 12 million units. The platform characterized this as “legacy code predating current gas consumption patterns.” Superior pricing pathways failed this validation and were automatically eliminated.

A single quote survived — from a solver proposing roughly 329 AAVE tokens, approximately 150 to 200 times inferior to rejected alternatives. This quote established the order’s price boundary.

Solver E, a different participant, identified an improved pathway and captured two straight auction victories. However, it failed to broadcast either transaction to the blockchain network. Following two consecutive failures, it ceased participation entirely. CoW admitted its monitoring systems lacked capability to identify or respond to this behavioral pattern.

Evidence Points to MEV Exploitation and Potential Mempool Exposure With only weaker solver options remaining, conditions became optimal for predatory behavior. Blockchain records indicate block builder Titan Builder captured roughly $34 million ETH from the transaction. An independent MEV bot secured nearly $10 million through sandwich attack methodology.

CoW Swap identified indicators suggesting possible mempool exposure. Despite submission through private channels, Etherscan displayed markers suggesting the transaction surfaced in public mempool space before block inclusion. This investigation continues actively.

CoW Swap’s Aave integration had emphasized MEV-protection features when the partnership broadened in December 2025.

🚨LATEST: Following the $50M swap incident, Aave unveils ‘Aave Shield,’ a safeguard designed to automatically block trades with over 25% price impact. pic.twitter.com/u5Q5U1yvLD

— Coin Bureau (@coinbureau) March 16, 2026

Aave Shield deployment is underway, automatically blocking transactions with price impact exceeding 25%. CoW Swap confirmed the hardcoded gas limit issue has been resolved. This incident occurred merely two days following a separate Aave oracle malfunction that caused $26 million in inappropriate liquidations affecting 34 accounts.

A surprising percentage of high-net-worth individuals own crypto. And it's not just high-profile tech titans in Silicon Valley. According to new Motley Fool research, a whopping 68% of American millionaires own cryptocurrency.

That raises an interesting question: Did they start buying crypto after they became self-made millionaires, as a way to further diversify their portfolio? Or did they use targeted crypto buys over an extended period of time to generate life-changing wealth?

Which cryptocurrencies are millionaires buying? The two most popular cryptos, as might be expected, are Bitcoin (BTC +1.81%) and Ethereum (ETH +5.82%). Nearly 60% of crypto-owning millionaires hold Bitcoin, and 55% hold Ethereum. That's not terribly surprising, given that Bitcoin and Ethereum together account for 70% of the total market cap of the crypto market.

Image source: Getty Images.

But a surprising number of American millionaires also have owned a meme coin such as Dogecoin (DOGE +4.42%) or Shiba Inu. Dogecoin, in fact, was the third-most popular cryptocurrency. Nearly one-half (48%) of millionaire crypto investors have put their money into Dogecoin. And 33% of millionaire crypto investors have put their money into Shiba Inu.

Other popular cryptocurrencies include BNB, XRP, Tether, Cardano, and Solana. In other words, just about every top cryptocurrency ranked in the top 10 by market cap can be found in the portfolios of millionaires.

Reasons to buy cryptocurrency According to the Motley Fool research from December, there are several core reasons millionaires are buying cryptocurrency for their portfolios. By far, the most important reason (cited by two-thirds of crypto-owning millionaires) is the potential for strong returns. That makes sense, given that Bitcoin has routinely been the top-performing asset in the world for the better part of the past decade.

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But some also bought crypto as a potential hedge against inflation, while others bought crypto as a safe store of value. Most likely, they are buying Bitcoin for this reason, given its perception among some investors as digital gold. Until recently, the growing consensus was that Bitcoin was a long-term store of value and a potential safe asset. Even Federal Reserve Chairman Jerome Powell has alluded to Bitcoin as a virtual, digital version of gold.

How much should you allocate to crypto? Another interesting takeaway from the Motley Fool research is just how big of an allocation crypto is in the portfolios of millionaire investors. For nearly two-thirds of these crypto-owning millionaires, crypto accounted for at least 50% of their overall portfolio. This suggests crypto may have been a significant contributor to their wealth.

That 50% figure is much more than the suggested portfolio allocation for crypto of just 1%-2%. Even for risk-seeking investors, the conventional wisdom is that crypto shouldn't account for more than 5% of a total portfolio.

Otherwise, it's just too risky. Case in point: Bitcoin has fallen almost 45% since reaching an all-time high in October. As a result, many of those millionaires who are overweighted in crypto may now only be "half-millionaires," given how precipitously Bitcoin has fallen in value in such a short period of time.

To be sure, I'm following the smart money and putting money into crypto. The potential for outsized returns is just too high. When you add in the additional portfolio diversification benefits, the case for making crypto part of your broader portfolio is clear.

Dominic Basulto has positions in Bitcoin, Cardano, Ethereum, Solana, and XRP. The Motley Fool has positions in and recommends Bitcoin, Ethereum, Solana, and XRP. The Motley Fool recommends BNB. The Motley Fool has a disclosure policy.

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According to the cryptocurrency reporting website CoinMarketCap, the total supply of USD Coin (USDC) has jumped to $79.2 billion at press time, representing an increase of around $4 billion since the US-Israel war on Iran began.

The second-largest stablecoin by market capitalization’s recent flurry of activity is reportedly not because of a sudden surge in demand from crypto users. It is rather attributed to the capital flight from the United Arab Emirates (UAE), whose reputation has been hit hard by the ongoing crisis in the Persian Gulf.

Capital Flight from the UAE According to a tweet from Dubai-based analyst Rami Al-Hashimi, the sudden increase in demand for USDC is due to it facilitating a market of panicked investors in the UAE.

He claimed:

Image Source: X According to Hashimi, bank wires are taking 5-7 days, while the real estate market is down as much as 27%. Huge discounts have opened up for crypto payments, and as a result, more USDC is being pumped into the Emirati market to meet liquidity requirements.

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While some of the analyst’s claims appear exaggerated, there is some truth to them, as the UAE real estate market is down 10-15% amid investor panic, with no end to the war in sight. Some are liquidating/selling their assets at a discount and paying hundreds of thousands of dollars to flee via Oman. There is also a lot of excess Gold flooding the Gulf countries’ market, and the precious metal is also being sold at a discount. All of these variables point to increasing adoption of stablecoins like USDC. 

USDC Overtakes USDt in Transaction Volume Japanese investment bank Mizuho reported that the USDC has generated about $2.2 trillion in adjusted transaction volume so far this year, significantly higher than USDT’s roughly $1.3 trillion over the same period. 

According to Mizuho, USDC is reportedly winning the race in transaction volume, as their analysts say the stablecoin with the most activity will become the public’s number one choice, not the one with the largest market capitalization alone.

The Future of Stablecoins While stablecoins continue to increase their market penetration, the US has yet to finalize a mechanism to regulate their yield capability with the CLARITY Act.

Many legacy economists and banking institutions believe that these digital dollar coins will mark the end of the banking sector.

Bitcoin surged past $74,000 on Monday, driven by escalating tensions in the Middle East, marking its highest trading level since February. Altcoins Rally as Ethereum Hits Six-Week High Bitcoin ( BTC) surged past the $74,000 threshold on Monday as the cryptocurrency market continued to catch significant tailwinds from escalating Middle East war jitters.

The chief investment officer of Bitwise Asset Management says Bitcoin could reach $1 million under what he describes as “reasonably conservative assumptions.”

In a new memo titled “How Bitcoin Gets to $1 Million”, Matt Hougan argues that many analysts underestimate Bitcoin’s long-term potential because they treat the global store-of-value market as static.

Hougan says he evaluates Bitcoin as a digital store-of-value asset competing primarily with gold.

Using that framework, estimating Bitcoin’s potential price involves calculating the size of the store-of-value market, estimating Bitcoin’s share, and dividing that value by Bitcoin’s fixed supply of 21 million coins.

Currently, the store-of-value market totals just under $38 trillion, according to Hougan, including roughly $36 trillion in gold and about $1.4 trillion in Bitcoin. That places Bitcoin’s share of the market at slightly below 4%.

At that size, Bitcoin would need to capture more than half of the market to reach $1 million per coin – a scenario Hougan says appears unrealistic if the market itself does not expand.

However, he argues the key factor many investors overlook is that the store-of-value market has historically grown significantly.

When the first US gold ETF launched in 2004, the gold market was worth about $2.5 trillion. Today, it has grown to nearly $40 trillion.

If that growth trend continues, Hougan estimates the global store-of-value market could reach about $121 trillion within the next decade. In that scenario, Bitcoin would only need to capture around 17% of the market to reach $1 million per coin.

Hougan acknowledges risks remain, including the possibility that the store-of-value market grows more slowly or that Bitcoin fails to gain significant share. But he argues the opposite outcome is also possible.

“As I see it,” Hougan says, “the base case – that the store-of-value market will continue to grow as it has, and bitcoin will continue to gain market share as it has – leads you to much, much higher prices than we have today.”

Generated Image: DALLE3

JP Morgan Officially Accepts Bitcoin and Ethereum as Collateral for LoansJP Morgan now allows clients to pledge Bitcoin (BTC) and Ethereum (ETH) as collateral for select loans, marking a major step in mainstream crypto adoption. Currently limited to its trading business, the move signals growing institutional acceptance of digital assets, CNBC reports.

JP Morgan, which already allows crypto-related ETFs as collateral, has now taken a bolder step by accepting direct BTC and ETH holdings. This move lets clients unlock liquidity without selling their assets, enabling investors to maintain market exposure while leveraging crypto for short-term financing. 

Meanwhile, former JP Morgan and Dresdner Kleinwort traders, fresh from a USD 2.5 billion fintech payout, recently launched a crypto prop firm, spotting a gap in the market: most crypto ventures aren’t designed by or for professional traders.

This move signals a broader trend of major financial institutions gradually embracing crypto despite its volatility and operational complexities. While currently limited to select trading desks, it underscores JP Morgan’s cautious yet strategic integration of digital assets into traditional finance.

JP Morgan Unlocks Crypto Liquidity, Accepts BTC & ETH as Loan CollateralUsing crypto as collateral could boost market liquidity and drive demand for Bitcoin and Ethereum, as institutional clients unlock capital without selling assets. This move will also test JP Morgan’s risk and valuation models amid crypto’s notorious volatility. 

On the other hand, Mastercard’s addition of Ripple to its Crypto Partner Program signals growing blockchain integration in the $9 trillion global payments ecosystem.

This move comes amid a broader wave of institutional crypto adoption, spanning custodial services, asset management, and derivatives markets. 

JP Morgan’s acceptance of Bitcoin and Ethereum as collateral could pave the way for other major banks to follow, narrowing the divide between traditional finance and the digital economy.

While specifics on eligibility, margin requirements, and risk controls remain limited, CNBC notes that adoption will be gradual, with potential expansion across more of JP Morgan’s operations as frameworks evolve.

Overall, the decision signals growing institutional confidence in digital assets and underscores the deepening integration of crypto into mainstream finance. 

For investors, it marks a pivotal step toward broader, regulated access to cryptocurrency markets, paralleling moves like the European Central Bank’s plans to greenlight tokenized securities using the XRP Ledger’s technology.

ConclusionJP Morgan’s acceptance of Bitcoin and Ethereum as collateral marks a milestone in bridging traditional finance and crypto.

Though initially limited, it signals rising institutional confidence and opens new ways for investors to access liquidity without selling their holdings, moving digital assets closer to mainstream financial adoption.

The push to $73,900 this week is consistent with what Elliott Wave principles pointed toward — a bounce toward the Fibonacci 0.5 and 0.618 retracement zones.

Solana’s SOL is one of the best performers among the top 10 cryptocurrencies by market cap, up nearly 7% since Sunday.

The coin has crossed the $90 mark after rallying 13% the previous week.

Institutional and retail demand for Solana holds strong, evidenced by rising inflows and Open Interest.

Furthermore, the technical outlook remains bullish, with the buyers looking to push SOL’s price above the $100 psychological level.

ETF inflows support SOL’s rallySolana continued where it left off last week after adding nearly 7% to its value to now trade at $93 per coin.

The rally comes as Solana-focused Exchange Traded Funds (ETFs) recorded a $7.60 million inflow on Friday, pushing its weekly netflow to $10.70 million.

The consistent ETF inflows show strong institutional demand, which could help increase the upward pressure.

Furthermore, the retail interest in Solana is catching up with the institutional confidence.

According to CoinGlass, SOL’s futures Open Interest (OI) is up by more than 6% over the last 24 hours, reaching $5.73 billion, suggesting a significant buildup of fresh or higher leveraged positions.

The growing inflows into the Solana futures market have wiped out millions of dollars worth of short leveraged positions.

Solana’s liquidation data shows a wipeout of bearish positions.

Solana futures recorded $15.50 million of liquidations since Sunday, led by $14.43 million of short liquidations, reflecting the unwinding of mainly bearish positions.

SOL bulls look to push price above $100The SOL/USD daily chart is bearish and efficient despite the ongoing rally. The coin is trading at $93 and could rally higher as bulls look to continue the ongoing recovery.

Currently, SOL is trading at a February 5 open price of $92.11, which acts as an upper ceiling of a consolidation range.

Meanwhile, the February 5 close price at $78.35 serves as the bottom support.

The bulls are eyeing an immediate breakout above the descending 50-day Exponential Moving Average (EMA) at $94.17.

If the daily candle closes above this level, SOL could extend its rally towards the higher target at the 100-day EMA at $109.58.

The inducement liquidity (ILQ) on the daily chart at $107 could also serve as a short-term target.

The Moving Average Convergence Divergence (MACD) enters positive territory, indicating a growing bullish momentum.

The Relative Strength Index (RSI) at 59 rises above the midline, reinforcing a near-term bullish bias.

However, if Solana fails to close the daily candle above the 50-day EMA, it could experience a reversal within the consolidation range, testing the $78.35 base floor.

While the broader crypto market has largely ignored the rising tensions between the United States and Iran in recent days, unfolding events could also affect SOL and other major coins.

The rising inflows into spot crypto ETFs suggest that institutions now view cryptocurrencies as a hedge against inflation.

ARLINGTON, Va,--(BUSINESS WIRE)--CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, analytics, and 3D digital twin technology in the property markets, today announced that Nana Banerjee has been appointed as a new independent member of the Company's Board of Directors (the “Board”), effective immediately. With this appointment, the Board expands to nine directors, eight of whom are independent. Nana Banerjee brings more than two decades of exp.

Unified platform speeds ordering, improves accuracy and delivers real-time visibility so dealers work smarter and farmers get critical parts faster.

, /PRNewswire/ -- AGCO (NYSE: AGCO) announced today that its AGCO Parts Shop B2B Digital Technology Team won the "Commendable Prize" in the "Engineering The Change" category at the 2026 Digital Engineering Awards, which honor organizations that are redefining excellence in technology–enabled transformation. The award, presented to a team representative in Boston, Massachusetts, on March 12, highlights AGCO's continued leadership in advancing digital innovation across the agriculture industry.

AGCO’s Iana Knak (center), Manager, Dealer Ecommerce, accepts the Commendable Prize in the “Engineering The Change” category at the 2026 Digital Engineering Awards in Boston, Massachusetts, on March 12. The award was presented to the AGCO Parts Shop B2B Digital Technology Team for a new unified digital platform that streamlines and enhances the part-ordering experience for dealers and farmers worldwide.

AGCO’s Iana Knak, Manager, Dealer Ecommerce, holds the Commendable Prize in the “Engineering The Change” category at the 2026 Digital Engineering Awards. Knak accepted the award on behalf of the AGCO Parts Shop B2B Digital Technology and AGCO Aftersales and Digital Transformation teams. The Digital Engineering Awards honor organizations that are redefining excellence in technology–enabled transformation. AGCO's award is part of the organization's distinguished "Digital Transformation of the Year" segment, and winning it positions the AGCO Parts Shop B2B Digital Technology Team among the world's leading digital innovators and acknowledges the platform's rapid evolution and its positive impact on dealer experiences. 

AGCO Parts Shop B2B is a next-generation, unified digital platform designed to streamline and enhance the part-ordering experience for dealers worldwide. Built on advanced technology, it replaces previous AGCO Parts applications with a single, comprehensive environment that offers transparent processes, real-time order tracking, faster delivery and access to a broad product portfolio. Already deployed across the company's Europe, Middle East, Asia and Pacific regions, and planned for rollout in North America from October 2026 onward, the platform transforms the way dealers interact with AGCO's Parts business. The effort supports AGCO's broader Farmer First strategy by improving the dealer experience and ensuring critical parts are delivered quickly and efficiently to keep farmers operating.

"We are truly honored to receive this award, which recognizes AGCO's ongoing commitment to digital excellence and innovation," said Stefan Caspari, AGCO Senior Vice President, Customer Success and North America Ag. "This achievement reflects our teams' dedication and collaboration as we work to be the most farmer focused organization in the industry."

This award recognizes the strategic work carried out over the past year by the AGCO Parts Shop B2B Digital Technology Team. Through close collaboration with the AGCO Aftersales and Digital Transformation teams, AGCO has delivered a more reliable, intuitive and consistent experience for dealers, strengthening the company's overall digital ecosystem. The recognition underscores the teams' forward-looking vision, strong execution, effective cross-functional collaboration and the measurable business impact achieved through increased platform usage, improved order accuracy and more efficient processes.

As AGCO continues to accelerate its digital evolution, the award reinforces the company's commitment to design smarter processes and develop solutions that deliver meaningful value to dealers and customers. The achievement stands as an important milestone and a strong example of what can be accomplished through vision, teamwork and innovation.

About AGCO
AGCO (NYSE: AGCO) is a global leader in agricultural machinery and precision agriculture technologies. Driven by a Farmer-First strategy, AGCO delivers value through its differentiated leading brands, Fendt™, Massey Ferguson™, PTx™ and Valtra™.  AGCO's high-performance equipment and smart farming solutions, including brand-agnostic retrofit technologies and autonomous offerings, empower farmers to drive productivity while sustainably feeding the world. For more information, visit www.agcocorp.com.  

SOURCE AGCO Corporation

On Dec. 31, Berkshire Hathaway's (BRKA 0.24%)(BRKB 0.38%) longtime chief and billionaire investment guru, Warren Buffett, stepped down as CEO and handed the reins to Greg Abel. Although Berkshire has entered uncharted territory without the Oracle of Omaha steering the ship, it's nevertheless being guided by someone whose business and investment philosophy meshes well with the company's now-former boss.

Recently, Abel made his first big move as CEO by purchasing shares of Warren Buffett's favorite stock. However, investors who get their hopes up that Abel will end the 13-quarter streak of net stock sales that led up to Buffett's retirement are likely to be disappointed.

Berkshire Hathaway's longtime CEO, Warren Buffett, retired on Dec. 31. Image source: The Motley Fool.

After a 21-month hiatus, Buffett's favorite stock is being bought Although quarterly filed Form 13Fs spill the beans about which stocks Wall Street's savviest money managers were buying and selling, Warren Buffett's favorite stock to buy isn't found in a 13F. Rather, the company's quarterly operating results detail purchases and sales of this stock. That's because Buffett's favorite stock to buy was always shares of his own company.

In July 2018, when Berkshire's board amended the rules governing buybacks to give its now-former boss more liberty to repurchase shares, Buffett took the bull by the horns and began buying back his Class A (BRKA) and B (BRKB) shares with regularity. Over six years (July 2018 – June 2024), he spent nearly $78 billion repurchasing shares.

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But in the 19 months leading up to Buffett's retirement (June 1, 2024 – Dec. 31, 2025), along with the first two months of Abel's tenure, no shares were repurchased. The reason why is simple: valuation.

During the six years Warren Buffett repurchased shares, Berkshire Hathaway stock commonly traded at a 20% to 50% premium to book value. When it reached a 60% to 80% premium, he stopped buying. Value is of the utmost importance to Buffett... and Abel!

However, following the release of Berkshire's fourth-quarter operating results and its subsequent share price swoon, Abel turned on the spigot and kick-started buybacks. With Berkshire stock briefly hitting a premium to book value of 44% (roughly a two-year low), the value proposition of Buffett's favorite stock had returned.

Image source: Getty Images.

Berkshire Hathaway's 13-quarter net selling streak is likely to continue But while value has returned to Berkshire Hathaway stock, the same can't be said of the broader market. Berkshire's billionaire investing legend sold more stocks than he purchased for 13 consecutive quarters leading into his retirement, totaling close to $187 billion in cumulative net selling.

Although Abel has a veritable treasure chest to work with -- $373.3 billion in combined cash, cash equivalents, and U.S. Treasuries -- finding a bargain amid a historically pricey stock market is challenging.

The S&P 500's (^GSPC 0.61%) Shiller Price-to-Earnings (P/E) Ratio has been hovering between 39 and 41 for months, which is more than double its 155-year average of 17.35. The five previous times the Shiller P/E exceeded 30 during a continuous bull market were eventually followed by declines of 20% or greater in the S&P 500.

Warren Buffett Indicator hits an all-time high of 224%, the most expensive stock market valuation in history 🚨🚨 pic.twitter.com/BgIiOkFlfl

-- Barchart (@Barchart) January 11, 2026 Likewise, the market cap-to-GDP ratio, more commonly known as the Buffett indicator, recently hit an all-time high. Whereas the cumulative value of all U.S. publicly traded stocks has averaged 87% of U.S. gross domestic product (GDP) since 1970, this ratio hit nearly 222% in January 2026.

Abel may be purchasing Buffett's favorite stock, but it's unlikely he's a net buyer of equities.

Team Internet Group PLC (AIM:TIG, OTCQX:TIGXF, FRA:4CN) told investors it expects FY2025 trading to land at or above the level anticipated by City analysts. Meanwhile, it added that talks over a potential disposal of its Domains, Identity & Software business are continuing to progress.

The board said any transaction would deliver a value-maximising outcome in excess of the group’s current market capitalisation.

The AIM-listed internet group, in Monday's trading update, noted that gross revenue for the year is seen at around US$481.9 million, down from US$802.8 million a year earlier, while net revenue amounted to US$136.2 million, from US$187.5 million, and earnings (adjusted EBITDA)  are expected to total US$42.7 million from US$91.9 million. Even so, gross margin improved to 28.3% from 23.4%, adjusted operating cash flow came in at US$66 million.

The main drag on performance was Search, where the shift away from legacy monetisation channels cut revenue and profitability in the short term. The firm noted that search revenue fell 59% to US$222 million and adjusted EBITDA slumped 84% to US$9 million, though the share of next-generation monetisation revenue in the segment climbed to 39.1% from 4.7%.

DIS ( Domains, Identity & Software) was steadier, with net revenue rising 3% to US$75.6 million and adjusted EBITDA up 10% to US$21.4 million, while Comparison revenue rose 4% to US$65.3 million.

"Team Internet's strongest performance in FY25 was delivered in the final quarter, following a year characterised by strategic transition within the Search segment and continued momentum in our core platforms," chief executive Michael Riedl

"Our core platforms remain robust. DIS and Comparison have delivered a combined EBITDA CAGR of 26% since 2023 and now generate approximately 80% of Group EBITDA, representing the higher quality of earnings within the Group. In Search, we are advancing a product evolution designed to position the business for greater resilience and long-term sustainability."

Riedl added: "our key performance indicators demonstrate continued strategic progress across the portfolio.

"Looking ahead, we view the year with confidence. Continued operational recovery, combined with disciplined capital allocation and potential strategic portfolio actions, creates opportunities to unlock and grow shareholder value in line with the Board's ongoing strategic focus."

Net debt narrowed to US$87.6 million at year-end from US$96.4 million, after US$6.9 million of shareholder distributions.

Coinsilium Group Limited (AQSE:COIN, OTCQB:CINGF, FRA:5CT) confirmed it has now planted an early flag in prediction markets, investing US$150,000 in Singapore-based Predictive Labs as the Aquis-listed digital asset investor broadens its 2026 strategy into event-driven finance.

The investment gives Coinsilium, through its Seedcoin subsidiary, a 5.52% stake in Predictive Labs. The deal also includes rights to subscribe for more shares that could raise its holding to 16.29% in an initial phase, while further option tranches could ultimately take that stake to 29.85%, subject to development milestones and exercise periods running into 2027.

Predictive Labs is building data intelligence infrastructure for prediction markets, aggregating and analysing signals from multiple venues for professional users, researchers and AI systems.

Coinsilium said that focus on the data and discovery layer, rather than operating a transactional platform, offers exposure to a fast-growing part of the market without the heavier licensing and regulatory demands attached to running an exchange.

Chief executive Eddy Travia said the deal marked Coinsilium’s first strategic move into a sector it had already identified as a priority for 2026.

Predictive Labs is led by founder and chief executive Johann Evrard, whose career has included roles at Dell, Lazada and Rocket Internet, and the company says its wider team brings more than 75 years of combined technology and digital infrastructure experience.

"Consistent with our venture-building strategy, we look to partner with credible and experienced founding teams where our sector expertise, strategic support and industry network can help accelerate the development of innovative platforms and technologies. As we continue to build momentum and strengthen our position within the digital asset sector, we are increasingly able to collaborate with high-calibre entrepreneurs and technologists, and the experience and track record of the Predictive Labs team is an excellent example of this," Travia said.

Meanwhile,  Predictive Labs co-founder Johann Evrard added: "This partnership extends beyond capital.

"Coinsilium brings strategic depth and sector expertise that will enable us to move faster and pursue larger ambitions. We share a strong conviction that prediction markets are emerging as essential financial infrastructure, and we intend to be at the forefront of that transformation.”

Since OpenAI commercially launched ChatGPT on Nov. 30, 2022, shares of semiconductor stock Nvidia (NVDA 1.56%) have risen 977%. This spectacular rise propelled Nvidia's market cap well north of $4 trillion -- making it the most valuable company in the world.

While Nvidia's gains throughout the artificial intelligence (AI) revolution have been historic, smart investors understand that the company's rally is just getting started.

Let's dig into the tailwinds fueling Nvidia's current trajectory and explore some of the company's major catalysts going forward. From there, I'll assess the company's valuation profile and make the case for why Nvidia looks like a no-brainer stock to buy hand over fist right now.

Image source: Nvidia.

How is Nvidia growing so fast? During fiscal 2026 (which ended in late January), Nvidia generated $216 billion in revenue -- up 65% year over year. The company's largest source of sales stemmed from its data center business.

AI hyperscalers, including Microsoft, Alphabet, Amazon, and Meta Platforms, have spent unprecedented sums on infrastructure over the last few years. What's more is that these investments are accelerating -- with big tech projected to spend over $600 billion on capital expenditures (capex) in 2026.

MSFT Capital Expenditures (Quarterly) data by YCharts.

Nvidia's Blackwell graphics processing units (GPUs) and CUDA software ecosystem have become staples in data centers -- cementing the company as a core architect in the training and inferencing of next-generation AI models.

With that said, many of these big tech developers are also exploring designing their own custom silicon architectures. While that may initially appear to be a headwind for Nvidia's chip empire, the company is positioned strategically to grow well beyond the world of data centers.

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What opportunities does Nvidia have for the future? Nvidia's booming data center chip operation has commanded enormous pricing power over the competition. As a result, the company has built a durable profitability profile. In turn, Nvidia has been strategically investing its cash flow into several new growth opportunities.

In late 2025, Nvidia invested $5 billion in Intel. Through this partnership, Nvidia gains access to the AI PC market -- deepening its ties to the consumer electronics market. In October, Nvidia partnered with data analytics specialist Palantir Technologies. Palantir will be integrating Nvidia's AI models into its Artificial Intelligence Platform (AIP) to help operationalize enterprise AI workflows. Also in October, Nvidia introduced its Arc Aerial RAN Computer in combination with a $1 billion investment in Nokia. Back in January, Nvidia invested $2 billion in neocloud company CoreWeave. Nvidia has long been a supporter of CoreWeave, and this most recent transaction underscores the company's commitment to ongoing AI infrastructure buildouts. Most recently, Nvidia invested $2 billion in Lumentum, a specialist in advanced optics and laser components manufacturing. Above all, the collaborations detailed here share a common theme: Nvidia is working to integrate its tech stack beyond data centers and into new end markets. From consumer electronics to real-time data analytics and telecommunications, Nvidia is diversifying its business into more edge applications across various industry sectors.

Taking this one step further, these partnerships should help Nvidia play a central role in next-generation services such as agentic AI, physical AI, robotics, and autonomous systems as they come to market over the coming decade.

Is Nvidia stock a good buy right now? Per the trends below, Nvidia is trading near its cheapest levels in the AI revolution based on price-to-earnings (P/E) and forward P/E multiples.

NVDA PE Ratio data by YCharts.

To me, these dynamics could suggest that the market is starting to price Nvidia more like a maturing business as opposed to one positioned for explosive growth.

Moreover, the discount in its forward P/E relative to prior periods could be a signal that some investors have doubts around big tech's ability to sustain record infrastructure spend and Nvidia's ability to capture it.

If you zoom out and look at the bigger picture, Nvidia's latest earnings report yet again featured monster growth across revenue and profits. Even better, management supplemented this with robust forward guidance.

For these reasons, Nvidia appears to be a great opportunity to buy and hold as numerous AI-driven tailwinds are yet to impact the company's growth profile. While short-term volatility is possible as investors digest the broader macro factors that impact Nvidia, the company remains on a solid footing to continue growing throughout the AI infrastructure era.

In my eyes, Nvidia stock has gotten too cheap to ignore, and smart investors should be taking advantage of the company's attractive price point right now.

Adam Spatacco has positions in Alphabet, Amazon, Meta Platforms, Microsoft, Nvidia, and Palantir Technologies. The Motley Fool has positions in and recommends Alphabet, Amazon, Intel, Lumentum, Meta Platforms, Microsoft, Nvidia, and Palantir Technologies. The Motley Fool has a disclosure policy.

-- Fourth Quarter Revenues of RMB 676.2 million, down 17.4% year over year

-- Fourth Quarter Net Loss of RMB 88.1 million, compared with RMB 72.5 million in the same period of 2024

-- Full Year Revenues of RMB 4,307.9 million, up 31.0% year over year

-- Full Year Net Loss of RMB 39.4 million, compared with RMB 193.2 million in 2024

BEIJING, March 16, 2026 (GLOBE NEWSWIRE) -- Niu Technologies (“NIU” or “the Company”) (NASDAQ: NIU), the world’s leading provider of smart urban mobility solutions, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2025.

Fourth Quarter 2025 Financial Highlights

Revenues were RMB 676.2 million, a decrease of 17.4% year over yearGross margin was 15.3%, compared with 12.4% in the fourth quarter of 2024Net loss was RMB 88.1 million, compared with a net loss of RMB 72.5 million in the fourth quarter of 2024Adjusted net loss (non-GAAP)1 was RMB 82.4 million, compared with an adjusted net loss of RMB 66.7 million in the fourth quarter of 2024 Fourth Quarter 2025 Operating Highlights

The number of e-scooters sold was 172,763, down 23.8% year over year2The number of e-scooters sold in China was 158,782, down 12.9% year over yearThe number of e-scooters sold in the international markets was 13,981, down 68.4% year over year2The number of franchised stores in China was 4,540 as of December 31, 2025 Dr. Yan Li, Chief Executive Officer of the Company, remarked, "Our China operations sustained robust growth throughout 2025, building strongly on last year's momentum. Our latest products continue to set market trends by fusing pioneering technology with NIU’s signature design, ensuring the resilience of our business in a dynamic market. Our expanding portfolio is laying a highly scalable foundation to capture new consumer segments and drive the strategic expansion of our retail presence this year."

Dr. Li continued, "Internationally, we are optimizing our retail footprint by accelerating the roll-out of electric motorcycles while streamlining micromobility operations to maximize efficiency. Overall, we are confident to deliver a sustained performance across both our domestic and overseas markets in 2026."

Fourth Quarter 2025 Financial Results

Revenues reached RMB 676.2 million, representing a 17.4% decrease year over year. This decrease was primarily driven by a 23.8% decrease in sales volume, partially offset by a 4.0% increase in revenues per e-scooter. The following table shows the revenue breakdown and revenues per e-scooter in the periods presented:

Revenues
(in RMB million) 2025
Q4 2024
Q4 % change
YoYE-scooter sales from China market 544.8 646.2 -15.7%E-scooter sales from international markets 36.3 87.2 -58.3%E-scooter sales, sub-total 581.1 733.4 -20.8%Accessories, spare parts and services 95.1 85.8 +10.9%Total 676.2 819.2 -17.4% Revenues per e-scooter
(in RMB) 2025
Q4 2024
Q4 % change
YoYE-scooter sales from China market3 3,431 3,544 -3.2%E-scooter sales from international markets3 2,600 1,968 +32.1%Revenues per e-scooter 3,364 3,236 +4.0%Accessories, spare parts and services4 550 379 +45.1%Blended revenues per e-scooter (including accessories, spare parts and services) 3,914 3,615 +8.3%        E-scooter sales revenues from China market were RMB 544.8 million, a decrease of 15.7% year over year, representing 93.7% of total e-scooter revenues. The decrease was mainly due to a 12.9% decline in sales volume and a 3.2% decrease in revenues per e-scooter in China market.E-scooter sales revenues from international markets were RMB 36.3 million, a decrease of 58.3% year over year, representing 6.3% of total e-scooter revenues. The decrease was mainly due to lower sales volume and reduced revenues per e-scooter for kick-scooters in international markets. Accessories, spare parts and services revenues were RMB 95.1 million, an increase of 10.9% year over year, representing 14.1% of total revenues. The increase was primarily driven by higher revenues from Niu App services, as well as from accessories and spare parts sales in China market.Revenues per e-scooter were RMB 3,364, an increase of 4.0% year over year. This increase was primarily due to a higher sales proportion attributable to China market, partially offset by a slight decrease in revenues per e-scooter within China. Cost of revenues was RMB 573.0 million, a decrease of 20.1% year over year, mainly due to lower sales volume. The cost per e-scooter, defined as cost of revenues divided by the number of e-scooters sold in a specific period, was RMB 3,317, an increase of 4.8% from RMB 3,165 in the fourth quarter of 2024. This increase was mainly due to provisions for slow-moving inventory and higher freight costs in international markets, partially offset by cost-reduction initiatives in China market.

Gross margin was 15.3%, compared with 12.4% in the same period of 2024. The increase was primarily attributable to China market, driven by a favorable product mix shift towards higher-margin e-scooters and effective cost-reduction initiatives. This was partially offset by lower gross margin for kick-scooters in international markets.

Operating expenses were RMB 206.1 million, an increase of 6.8% from the same period of 2024. Operating expenses as a percentage of revenues were 30.5%, compared with 23.6% in the fourth quarter of 2024.

Selling and marketing expenses were RMB 144.1 million (including RMB 0.9 million of share-based compensation expenses), an increase of 5.7% from RMB 136.3 million in the fourth quarter of 2024, mainly due to an increase of RMB 12.1 million in rental expenses, primarily in international markets, RMB 9.3 million in staff costs, and RMB 3.7 million in depreciation and amortization, partially offset by a decrease of RMB 19.1 million in advertising and promotion expenses primarily in China market. Selling and marketing expenses as a percentage of revenues were 21.3%, compared with 16.6% in the fourth quarter of 2024.Research and development expenses were RMB 49.5 million (including RMB 2.3 million of share-based compensation expenses), an increase of 28.2% from RMB 38.6 million in the fourth quarter of 2024, mainly due to an increase of RMB 6.5 million in staff costs and share-based compensation, and RMB 4.4 million in design and testing expenses. Research and development expenses as a percentage of revenues were 7.3%, compared with 4.7% in the fourth quarter of 2024.General and administrative expenses were RMB 12.5 million (including RMB 2.4 million of share-based compensation expenses), a decrease of 31.0% from RMB 18.1 million in the fourth quarter of 2024, mainly due to a decrease of RMB 14.8 million in taxes and surcharges, partially offset by an increase of RMB 11.2 million in foreign exchange losses. General and administrative expenses as a percentage of revenues were 1.8%, compared with 2.2% in the fourth quarter of 2024.
Operating expenses excluding share-based compensation expenses were RMB 200.6 million, an increase of 7.1% year over year, representing 29.7% of revenues, compared with 22.9% in the fourth quarter of 2024.

Selling and marketing expenses excluding share-based compensation expenses were RMB 143.2 million, an increase of 6.1% year over year, representing 21.2% of revenues, compared with 16.5% in the fourth quarter of 2024.Research and development expenses excluding share-based compensation expenses were RMB 47.3 million, an increase of 29.3% year over year, representing 7.0% of revenues, compared with 4.5% in the fourth quarter of 2024.General and administrative expenses excluding share-based compensation were RMB 10.1 million, a decrease of 36.2% year over year, representing 1.5% of revenues, compared with 1.9% in the fourth quarter of 2024.
Share-based compensation expenses were RMB 5.7 million, compared with RMB 5.9 million in the same period of 2024.

Income tax benefit was RMB 8.0 million, compared with RMB 9.8 million in the same period of 2024.

Net loss was RMB 88.1 million, compared with RMB 72.5 million in the fourth quarter of 2024. The net loss margin was 13.0%, compared with 8.9% in the same period of 2024.

Adjusted net loss (non-GAAP) was RMB 82.4 million, compared with RMB 66.7 million in the fourth quarter of 2024. The adjusted net loss margin5 was 12.2%, compared with 8.1% in the same period of 2024.

Basic and diluted net loss per ADS were both RMB 1.10 (US$ 0.16).

Full Year 2025 Financial Results

Revenues were RMB 4,307.9 million, representing a 31.0% increase year over year. This growth was primarily driven by a 29.0% increase in sales volume, complemented by a 2.1% increase in revenues per e-scooter. E-scooter sales revenues from China market and international markets represented 93.2% and 6.8% of our total revenues from e-scooter sales, respectively. The following table shows the revenue breakdown and revenues per e-scooter in the years presented:

Revenues
(in RMB million) 2025
Full Year 2024
Full Year % change
YoYE-scooter sales from China market 3,630.0 2,563.6 +41.6%E-scooter sales from international markets 266.5 396.9 -32.9%E-scooter sales, sub-total 3,896.5 2,960.5 +31.6%Accessories, spare parts and services 411.4 327.8 +25.5%Total 4,307.9 3,288.3 +31.0% Revenues per e-scooter
(in RMB) 2025
Full Year 2024
Full Year % change
YoYE-scooter sales from China market3 3,264 3,377 -3.3%E-scooter sales from international markets3 3,330 2,402 +38.6%Revenues per e-scooter 3,269 3,203 +2.1%Accessories, spare parts and services4 345 354 -2.8%Blended revenues per e-scooter (including accessories, spare parts and services) 3,614 3,557 +1.6%        Cost of revenues was RMB 3,464.3 million, an increase of 24.2% year over year, mainly due to higher e-scooter sales volume. The cost per e-scooter, defined as cost of revenues divided by the number of e-scooters sold in a specific period, was RMB 2,906, a decrease of 3.7% from RMB 3,018 in 2024.

Gross margin was 19.6%, compared with 15.2% in 2024. The increase was primarily driven by China market, reflecting a strategic shift in product mix towards higher-margin e-scooters and our continued cost-optimization initiatives. This was partially offset by a lower gross margin for kick-scooters in international markets.

Operating expenses were RMB 933.2 million, an increase of 24.4% from RMB 750.3 million in 2024. Operating expenses as a percentage of revenues were 21.7%, compared with 22.8% in 2024.

Operating expenses excluding share-based compensation expenses were RMB 906.3 million, an increase of 24.7% year over year, representing 21.0% of revenues, compared with 22.1% in 2024.

Share-based compensation expenses were RMB 27.7 million, an increase of RMB 3.5 million from RMB 24.2 million in 2024.

Income tax benefit was RMB 23.0 million, compared with RMB 23.6 million in 2024.

Net loss was RMB 39.4 million, compared with RMB 193.2 million in 2024. The net loss margin was 0.9%, compared with 5.9% in 2024.

Adjusted net loss (non-GAAP) was RMB 11.7 million, compared with RMB 169.0 million in 2024. The adjusted net loss margin5 was 0.3%, compared with 5.1% in 2024.

Basic and diluted net loss per ADS were both RMB 0.49 (US$ 0.07).

Balance Sheet

As of December 31, 2025, the Company had cash and cash equivalents, term deposits and short-term investments of RMB 1,115.6 million in aggregate. The Company had restricted cash of RMB 210.9 million and short-term bank borrowings of RMB 240.0 million.

Business Outlook

NIU expects revenues for the first quarter of 2026 to be in the range of RMB 887 million to RMB 1,023 million, representing a year-over-year increase of 30% to 50%. NIU expects sales volume for the full year 2026 to be in the range of 1.7 million to 1.9 million units, representing a year-over-year increase of approximately 40% to 60%.

The above outlook is based on information available as of the date of this press release and reflects the Company’s current and preliminary expectations and is subject to change.

Conference Call

The Company will host an earnings conference call on Monday, March 16, 2026 at 8:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time) to discuss its fourth quarter and full year 2025 financial and business results and provide a corporate update.

To join via phone, participants need to register in advance of the conference call using the link provided below. Upon registration, participants will receive dial-in numbers and a personal PIN, which will be used to join the conference call.

Event:
Niu Technologies Fourth Quarter and Full Year 2025 Financial Results Conference CallRegistration Link:https://register-conf.media-server.com/register/BI12f59df276994aebae3a0f8be5db53de   A live and archived webcast of the conference call will be available on the investor relations website at https://ir.niu.com/news-and-events/webcasts-and-presentations.

About NIU

As the world’s leading provider of smart urban mobility solutions, NIU designs, manufactures and sells high-performance electric motorcycles, mopeds, bicycles, as well as kick-scooters and e-bikes. NIU has a diversified product portfolio that caters to the various demands of our users and addresses different urban travel scenarios. Currently, NIU offers two model lineups, comprising a number of different vehicle types. These include (i) the electric motorcycle, moped and bicycle series, including the NQi, MQi, UQi, FQi series and others, and (ii) the micro-mobility series, including the kick-scooter series KQi and the e-bike series BQi. NIU has adopted an omnichannel retail model, integrating the offline and online channels, to sell its products and provide services to users.

For more information, please visit www.niu.com.

Use of Non-GAAP Financial Measures

To supplement NIU’s consolidated financial results presented in accordance with the accounting principles generally accepted in the United States of America (“GAAP”), NIU uses the following non-GAAP financial measures: adjusted net income (loss) and adjusted net income (loss) margin. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. NIU believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding certain items that may not be indicative of its operating results. The Company believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to NIU’s historical performance. The Company believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using these non-GAAP financial measures is that these non-GAAP measures exclude certain items that have been and will continue to be for the foreseeable future a significant component in the Company’s results of operations. These non-GAAP financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s data.

Adjusted net income (loss) is defined as net income (loss) excluding share-based compensation expenses. Adjusted net income (loss) margin is defined as adjusted net income (loss) as a percentage of the revenues.

For more information on non-GAAP financial measures, please see the table captioned “Reconciliation of GAAP and Non-GAAP Results”.

Exchange Rate

This announcement contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the readers. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB 6.9931 to US$ 1.00, the exchange rate in effect as of December 31, 2025, as set forth in the H.10 Statistical release of the Board of Governors of the Federal Reserve System. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as NIU’s strategic and operational plans, contain forward-looking statements. NIU may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, 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 statements about NIU’s beliefs, plans 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, including but not limited to the following: NIU’s strategies; NIU’s future business development, financial condition and results of operations; NIU’s ability to maintain and enhance its “NIU” brand; its ability to innovate and successfully launch new products and services; its ability to maintain and expand its offline distribution network; its ability to satisfy the mandated safety standards relating to e-scooters; its ability to secure supply of components and raw materials used in e-scooters; its ability to manufacture, launch and sell smart e-scooters meeting customer expectations; its ability to grow collaboration with operation partners; its ability to control costs associated with its operations; general economic and business conditions in China and globally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in NIU’s filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and NIU does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact:

Niu Technologies
E-mail: [email protected]

NIU TECHNOLOGIESUNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS As of December 31, December 31, December 31, 2024
2025
2025
RMB RMB US$ASSETS Current assets     Cash and cash equivalents630,021,303  924,738,132  132,235,794 Term deposits274,351,895  128,235,695  18,337,460 Restricted cash216,395,796  210,864,000  30,153,151 Short-term investments-  62,661,176  8,960,429 Accounts receivable, net131,921,419  37,372,044  5,344,131 Inventories649,177,719  652,579,651  93,317,649 Prepayments and other current assets267,938,339  343,536,572  49,125,076 Total current assets2,169,806,471  2,359,987,270  337,473,690       Non-current assets     Property, plant and equipment, net320,013,632  420,173,035  60,083,945 Intangible assets, net1,043,801  776,328  111,013 Operating lease right-of-use assets71,223,350  75,954,225  10,861,310 Deferred income tax assets31,752,254  57,457,432  8,216,303 Other non-current assets19,318,659  35,988,114  5,146,232 Total non-current assets443,351,696  590,349,134  84,418,803       Total assets2,613,158,167  2,950,336,404  421,892,493  LIABILITIES     Current liabilities     Short-term bank borrowings200,000,000  240,000,000  34,319,544 Notes payable294,348,768  394,285,714  56,382,107 Accounts payable869,015,140  704,089,088  100,683,400 Income taxes payable1,071,914  2,197,710  314,268 Advances from customers35,892,860  182,598,444  26,111,230 Deferred revenue-current50,247,103  75,148,049  10,746,028 Accrued expenses and other current liabilities201,356,008  404,813,611  57,887,575 Total current liabilities1,651,931,793  2,003,132,616  286,444,152       Deferred revenue-non-current16,886,859  23,316,175  3,334,169 Deferred income tax liabilities3,269,464  2,057,892  294,275 Operating lease liabilities89,990  3,956,501  565,772 Other non-current liabilities9,697,841  12,941,916  1,850,669 Total non-current liabilities29,944,154  42,272,484  6,044,885       Total liabilities1,681,875,947  2,045,405,100  292,489,037       SHAREHOLDERS’ EQUITY:     Class A ordinary shares90,549  91,796  13,127 Class B ordinary shares10,316  9,504  1,359 Additional paid-in capital1,988,638,160  2,016,533,709  288,360,485 Accumulated other comprehensive loss(3,129,362) (17,990,674) (2,572,632)Accumulated deficit(1,054,327,443) (1,093,713,031) (156,398,883)Total shareholders’ equity931,282,220  904,931,304  129,403,456       Total liabilities and shareholders’ equity2,613,158,167  2,950,336,404  421,892,493        NIU TECHNOLOGIESUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Three Months Ended December 31, Year Ended December 31, 2024
2025
2024
2025
RMB RMBUS$ RMB RMBUS$Revenues819,179,677  676,247,493 96,702,105  3,288,296,344  4,307,865,498 616,016,573 Cost of revenues(a)(717,195,572) (573,044,436)(81,944,264) (2,789,533,350) (3,464,294,613)(495,387,541)Gross profit 101,984,105   103,203,057  14,757,841   498,762,994   843,570,885   120,629,032   Operating expenses: Selling and marketing expenses(a)(136,342,357) (144,124,497)(20,609,529) (489,577,690) (675,769,295)(96,633,724)Research and development expenses(a)(38,622,708) (49,529,896)(7,082,681) (130,111,359) (166,452,286)(23,802,360)General and administrative expenses(a)(18,075,985) (12,463,572)(1,782,267) (130,617,629) (90,963,018)(13,007,539)Total operating expenses (193,041,050) (206,117,965) (29,474,477) (750,306,678) (933,184,599) (133,443,623)Government grants387,800  282,812 40,442  911,556  1,366,650 195,428 Operating loss (90,669,145) (102,632,096) (14,676,194) (250,632,128) (88,247,064) (12,619,163) Interest expenses(1,598,640) (1,807,591)(258,482) (5,623,544) (6,130,439)(876,641)Interest income9,559,430  6,329,914 905,166  37,089,488  26,464,512 3,784,375 Investment income371,460  2,001,403 286,197  2,358,995  5,543,812 792,755 Loss before income taxes (82,336,895) (96,108,370) (13,743,313) (216,807,189) (62,369,179) (8,918,674)Income tax benefit9,798,826  7,999,794 1,143,955  23,606,550  22,983,591 3,286,610 Net loss (72,538,069) (88,108,576) (12,599,358) (193,200,639) (39,385,588) (5,632,064) Other comprehensive income (loss) Foreign currency translation adjustment, net of nil income taxes10,263,988  (1,422,394)(203,400) 6,366,312  (14,861,312)(2,125,139)Comprehensive loss (62,274,081) (89,530,970) (12,802,758) (186,834,327) (54,246,900) (7,757,203)Net loss per ordinary share         —Basic(0.46) (0.55)(0.08) (1.22) (0.25)(0.04)—Diluted(0.46) (0.55)(0.08) (1.22) (0.25)(0.04)Net loss per ADS —Basic(0.91) (1.10)(0.16) (2.44) (0.49)(0.07)—Diluted(0.91) (1.10)(0.16) (2.44) (0.49)(0.07)          Weighted average number of ordinary shares and ordinary shares equivalents outstanding used in computing net loss per ordinary share—Basic158,924,842  160,034,451 160,034,451  158,460,242  159,714,698 159,714,698 —Diluted158,924,842  160,034,451 160,034,451  158,460,242  159,714,698 159,714,698 Weighted average number of ADS outstanding used in computing net loss per ADS      —Basic79,462,421  80,017,226 80,017,226  79,230,121  79,857,349 79,857,349 —Diluted79,462,421  80,017,226 80,017,226  79,230,121  79,857,349 79,857,349  Note:         (a) Includes share-based compensation expenses as follows:  Three Months Ended December 31, Year Ended December 31, 2024
2025
2024
2025
 RMB RMBUS$ RMB RMBUS$Cost of revenues155,177  156,745 22,414  751,445  858,055 122,700 Selling and marketing expenses1,363,601  896,134 128,145  7,110,420  5,396,473 771,685 Research and development expenses2,054,764  2,258,971 323,029  7,325,327  9,890,499 1,414,323 General and administrative expenses2,281,042  2,383,925 340,897  9,045,786  11,586,370 1,656,829 Total share-based compensation expenses 5,854,584   5,695,775  814,485   24,232,978   27,731,397   3,965,537             NIU TECHNOLOGIESRECONCILIATION OF GAAP AND NON-GAAP RESULTS Three Months Ended December 31, Year Ended December 31, 2024
 2025
 2024
 2025
RMB RMBUS$ RMB RMBUS$Net loss(72,538,069) (88,108,576)(12,599,358) (193,200,639) (39,385,588)(5,632,064)Add:         Share-based compensation expenses5,854,584  5,695,775 814,485  24,232,978  27,731,397 3,965,537 Adjusted net loss(66,683,485) (82,412,801)(11,784,873) (168,967,661) (11,654,191)(1,666,527)           ________________
1 Adjusted net income (loss) (non-GAAP) is defined as net income (loss) excluding share-based compensation expenses 
2 The discrepancy in the total number of e-scooters sold in the fourth quarter of 2025 disclosed herein and the sales volume disclosed in the Company's press release on sales volume update dated January 5, 2026 was due to adjustments made for certain product returns in international markets that occurred subsequently in the first quarter of 2026. This adjustment was made in order to better align with the revenue recognized for product sales during the fourth quarter of 2025.
3 Revenues per e-scooter on e-scooter sales from China or international markets is defined as e-scooter sales revenues from China or international markets divided by the number of e-scooters sold in China or international market in a specific period
4 Revenues per e-scooter on accessories, spare parts and services is defined as accessories, spare parts and services revenues divided by the total number of e-scooters sold in a specific period
5 Adjusted net income (loss) margin is defined as adjusted net income (loss) (non-GAAP) as a percentage of the revenues

With the market still hovering near all-time highs, there are still dirt cheap stocks to buy, especially in the consumer sector. Let's look at two stocks to buy while they are on sale.

Image source: Getty Images.

1. E.l.f. Beauty E.l.f. Beauty (ELF +1.14%) is a growth stock trading at a cheap valuation. It has a reasonable forward price-to-earnings ratio (P/E) of 24 times based on next fiscal year's earnings estimates but a minuscule price/earnings-to-growth (PEG) ratio of below 0.4. Positive PEGs below 1 are typically considered undervalued, so a PEG well below 0.5 clearly puts e.l.f. on the clearance rack.

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The company has done a great job over the years of connecting with younger consumers, taking significant market share in the mass cosmetics space, and gaining shelf space. Now the company has a big opportunity to apply that same playbook to Rhode, the fast-growing skincare brand it recently acquired from celebrity Hailey Bieber. Bieber was able to grow the brand to more than $200 million in sales in less than three years with a small product assortment sold through her website and little marketing outside her own social media influence.

Rhode just recently started selling its products at LVMH's Sephora stores, and e.l.f. will have a long runway in increasing its distribution. With only about a dozen products when it acquired the company, it will also be able to gradually increase the product assortment and put it into its marketing engine. This should help drive strong growth in the coming year, making the stock a solid buy at current levels.

2. Jakks Pacific For investors willing to dig deep into the bargain bin and find an under-the-radar value name, I'd point them in the direction of Jakks Pacific (JAKK 1.94%), which trades at a forward P/E of under 6.5 times. Don't let its valuation fool you, though, as the toymaker has made a lot of strides over the past few years and has a nice potential catalyst on the horizon.

Under CFO John Kimble, who previously had stints at Mattel and Walt Disney, Jakks has become much more disciplined. This could be seen last year, when, despite a tough consumer environment and tariffs, the company was able to achieve its highest gross margins in more than 15 years. That's impressive and something you rarely see when a company's sales decline.

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Meanwhile, Jakks has a big potential catalyst this year with one of the biggest children's movie slates in quite some time. Toy and costume sales (a big part of the company's business) are often driven by hit kids' movies, and this year is filled with potential blockbusters.

Given this background and the benefit of Halloween falling on a weekend this year (which helps costume sales), the revenue forecast for Jakks looks conservative. Between its cheap valuation and the upcoming children's movie line-up, the stock is a buy.

Geoffrey Seiler has positions in JAKKS Pacific, LVMH Moët Hennessy-Louis Vuitton, and e.l.f. Beauty. The Motley Fool has positions in and recommends Walt Disney and e.l.f. Beauty. The Motley Fool has a disclosure policy.

16th March 2026 Company Announcement No. 15/2026 Alm.