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SINGAPORE, Dec. 13, 2024 /PRNewswire/ -- 51Talk Online Education Group ("51Talk" or the "Company") (NYSE American: COE), a global online education platform with core expertise in English education, today announced its unaudited results for the third quarter ended September 30, 2024. Third Quarter 2024 Financial and Operating Highlights Gross billings[1] for the third quarter of 2024 were US$19.8 million, an 80.7% growth from the third quarter of 2023. Net revenues were US$14.0 million for the third quarter of 2024, a 79.4% increase from the third quarter of 2023. The number of quarterly active students with attended lesson consumption was approximately 65,700 in the third quarter of 2024, representing an 82.5% increase from the third quarter of 2023. Key Financial and Operating Data For the three months ended September 30, September 30, Y-o-Y 2023 2024 Change Net Revenues (in US$ millions) 7.8 14.0 79.4 % Gross Margin 76.3 % 78.7 % 2.4 percentage points Gross Billings (in US$ millions) 10.9 19.8 80.7 % Active students with attended lesson consumption[2] (in thousands) 36.0 65.7 82.5 % [1] Gross billings for a specific period, which is one of the Company's key operating data, are defined as the total amount of cash received and receivable from third party payment platforms for the sale of course packages and services in such period, net of the total amount of refunds in the same period. The gross billings data included herein was from the Company's business system and converted with quarterly corresponding exchange rate, which may result in differences with bank records. [2] An "active student with attended lesson consumption" for a given period refers to a student who attended at least one paid lesson, excluding those students who only attended paid live broadcasting lessons or trial lessons. "Our growth momentum has been well sustained into the third quarter, with gross billings once again surpassing our earlier guidance. Looking ahead, we are confident in our ability to maintain our growth momentum going forward. We are committed to our localization strategies around the world, while actively pursuing opportunities to extend service offerings with supplementary products for our existing students," stated Jack Jiajia Huang, Founder, Chairman, and Chief Executive Officer of 51Talk. "Furthermore, we would highlight that in our commitment to sustainable growth, we have successfully maintained an upward trajectory in our operating cash flow in the past two quarters. This is evidenced by the improvement in our cash balance over the quarter, and we anticipate that this positive trend will continue in the coming periods." "The acceleration of AI adoption, across our group has become a significant driver this quarter. We have observed improvements in lead conversion rates, tutor management, and student classroom experiences, all powered by AI. Our deep understanding of customer needs, combined with the strategic implementation of AI technologies, aligns with our objective of becoming a globally leading EdTech company," Jack Jiajia Huang concluded. Third Quarter 2024 Financial Results Net Revenues and Gross Margin Net revenues for the third quarter of 2024 were US$14.0 million, a 79.4% increase from US$7.8 million for the same quarter last year. The number of active students with attended lesson consumption was approximately 65,700 in the third quarter of 2024, a 82.5% increase from 36,000 for the same quarter last year. Cost of revenues for the third quarter of 2024 was US$3.0 million, a 60.7% increase from US$1.9 million for the same quarter last year. The increase was primarily due to the increase in total service fees paid to teachers, mainly resulting from an increased number of paid lessons. Gross profit for the third quarter of 2024 was US$11.1 million, an 85.3% increase from US$6.0 million for the same quarter last year. Gross margin for the third quarter of 2024 was 78.7%, compared with 76.3% for the same quarter last year. Operating Expenses Total operating expenses for the third quarter of 2024 were US$11.8 million, a 20.6% increase from US$9.8 million for the same quarter last year. The increase was mainly due to the increase in sales and marketing expenses. Sales and marketing expenses for the third quarter of 2024 were US$8.2 million, an 18.3% increase from US$6.9 million for the same quarter last year. The increase was mainly due to higher sales personnel costs related to increases in the number of sales and marketing personnel. Excluding share-based compensation expenses, non-GAAP sales and marketing expenses for the third quarter of 2024 were US$8.1 million, an 18.5% increase from US$6.9 million for the same quarter last year. Product development expenses for the third quarter of 2024 were US$0.8 million, a 3.3% decrease from US$0.9 million for the same quarter last year. Excluding share-based compensation expenses, non-GAAP product development expenses for the third quarter of 2024 were US$0.8 million, a 1.7% decrease from US$0.8 million for the same quarter last year. General and administrative expenses for the third quarter of 2024 were US$2.8 million, a 38.6% increase from US$2.0 million for the same quarter last year. The increase was primarily due to higher general and administrative personnel costs. Excluding share-based compensation expenses, non-GAAP general and administrative expenses for the third quarter of 2024 were US$2.7 million, a 42.9% increase from US$1.9 million for the same quarter last year. Loss from Operations Operating loss for the third quarter of 2024 was US$0.8 million, compared with operating loss of US$3.9 million for the same quarter last year. Non-GAAP operating loss for the third quarter of 2024 was US$0.6 million, compared with non-GAAP operating loss of US$3.6 million for the same quarter last year. Net Loss Attributable to the Company's Ordinary Shareholders Net loss attributable to the Company's ordinary shareholders for the third quarter of 2024 was US$0.6 million, compared with net loss of US$3.9 million for the same quarter last year. Excluding share-based compensation expenses of US$0.2 million, non-GAAP net loss for the third quarter of 2024 was US$0.4 million, compared with non-GAAP net loss of US$3.6 million for the same quarter last year. Basic and diluted net loss per share attributable to ordinary shareholders for the third quarter of 2024 was US$0.002, compared with basic and diluted net loss per share of US$0.01 for the same quarter last year. Excluding share-based compensation expenses of US$0.2 million, non-GAAP basic and diluted net loss per share attributable to ordinary shareholders for the third quarter of 2024 was US$0.001, compared with non-GAAP basic and diluted net loss per share attributable to ordinary shareholders of US$0.01 for the same quarter last year. Basic and diluted net loss per American depositary share ("ADS") attributable to ordinary shareholders for the third quarter of 2024 was US$0.11, compared with basic and diluted net loss per ADS of US$0.68 for the same quarter last year. Each ADS represents 60 Class A ordinary shares. Excluding share-based compensation expenses of US$0.2 million, non-GAAP basic and diluted net loss per ADS attributable to ordinary shareholders for the third quarter of 2024 was US$0.07, compared with non-GAAP basic and diluted net loss per ADS attributable to ordinary shareholders of US$0.64 for the same quarter last year. Balance Sheet As of September 30, 2024, the Company had total cash, cash equivalents and time deposits of US$25.6 million, compared with US$23.4 million as of December 31, 2023. The Company had advances from students[3] of US$39.7 million as of September 30, 2024, compared with US$27.2 million as of December 31, 2023. [3] "Advances from students" is defined as the amount of obligation to transfer goods or service to students or business partners for which consideration has been received from students in advance. The deposits from students are also presented in the total amount of "advances from students." Outlook For the fourth quarter of 2024, the Company currently expects net gross billings to be between $20.5 million and $21.0 million, which would represent a sequential growth of 3.7% to 6.2%. The foregoing outlook is based on current market conditions and reflects the Company's current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change. Conference Call The Company's management will host an earnings conference call at 8:00 AM U.S. Eastern Time on December 13, 2024 (9:00 PM Singapore/Hong Kong time on December 13, 2024). Dial-in details for the earnings conference call are as follows: United States (toll free): 1-888-346-8982 International: 1-412-902-4272 Singapore (toll free): 800-120-6157 Mainland China (toll free): 4001-201203 Hong Kong (toll free): 800-905945 Hong Kong (local toll): 852-301-84992 Participants should dial-in at least 5 minutes before the scheduled start time and ask to be connected to the call for "51Talk Online Education Group." Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.51talk.com. A replay of the conference call will be accessible until December 20, 2024, by dialing the following telephone numbers: United States (toll free): 1-877-344-7529 International: 1-412-317-0088 Replay Access Code: 7344526 About 51Talk Online Education Group 51Talk Online Education Group (NYSE American: COE) is a global online education platform with core expertise in English education. The Company's mission is to make quality education accessible and affordable. The Company's online and mobile education platforms enable students to take live interactive English lessons, on demand. The Company connects its students with a large pool of highly qualified teachers that it assembled using a shared economy approach, and employs student and teacher feedback and data analytics to deliver a personalized learning experience to its students. Use of Non-GAAP Financial Measures In evaluating its business, 51Talk considers and uses the following measures defined as non-GAAP financial measures by the SEC as supplemental metrics to review and assess its operating performance: non-GAAP sales and marketing expenses, non-GAAP product development expenses, non-GAAP general and administrative expenses, non-GAAP operating expenses, non-GAAP operating income/(loss), non-GAAP net income/(loss), non-GAAP net income/(loss) attributable to ordinary shareholders, and non-GAAP net income/(loss) attributable to ordinary shareholders per share and per ADS. To present each of these non-GAAP measures, the Company excludes share-based compensation expenses. 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. For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of non-GAAP measures to the most comparable GAAP measures" set forth at the end of this press release. 51Talk believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance by excluding share-based compensation expenses that may not be indicative of its operating performance from a cash perspective. 51Talk believes that both management and investors benefit from 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 51Talk's historical performance. 51Talk computes its non-GAAP financial measures using the same consistent method from quarter to quarter and from period to period. 51Talk 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 non-GAAP measures is that these non-GAAP measures exclude share-based compensation expenses that have been and will continue to be for the foreseeable future a significant recurring expense in the 51Talk's business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying table at the end of this press release provides more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures. Safe Harbor Statement This press release contains statements that may constitute "forward-looking" statements pursuant to 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 51Talk's quotations from management in this announcement, as well as 51Talk's strategic and operational plans, contain forward-looking statements. 51Talk may also make written or oral forward-looking statements in its periodic reports to the Securities and Exchange Commission ("SEC"), 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 51Talk's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: 51Talk's goals and strategies; 51Talk's expectations regarding demand for and market acceptance of its brand and platform; 51Talk's ability to retain and increase its student enrollment; 51Talk's ability to offer new courses; 51Talk's ability to engage, train and retain new teachers; 51Talk's future business development, results of operations and financial condition; 51Talk's ability to maintain and improve infrastructure necessary to operate its education platform; competition in the online education industry in its international markets; the expected growth of, and trends in, the markets for 51Talk's course offerings in its international markets; relevant government policies and regulations relating to 51Talk's corporate structure, business and industry; general economic and business condition in the Philippines, its international markets and elsewhere; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in 51Talk's filings with the SEC. All information provided in this press release is as of the date of this press release, and 51Talk does not undertake any obligation to update any forward-looking statement, except as required under applicable law. 51TALK ONLINE EDUCATION GROUP UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) As of Dec. 31, Sep. 30, 2023 2024 US$ US$ ASSETS Current assets Cash and cash equivalents 21,298 22,186 Time deposits 2,091 3,437 Inventory - 31 Prepaid expenses and other current assets 6,394 11,020 Total current assets 29,783 36,674 Non-current assets Property and equipment, net 138 222 Intangible assets, net 92 83 Right-of-use assets 723 1,449 Deferred tax assets 72 70 Other non-current assets 348 427 Total non-current assets 1,373 2,251 Total assets 31,156 38,925 LIABILITIES AND SHAREHOLDERS' DEFICITS Current liabilities Advances from students 27,214 39,698 Accrued expenses and other current liabilities 6,189 7,116 Amounts due to related parties 4,077 3,131 Lease liabilities 590 810 Taxes payable 1,060 802 Total current liabilities 39,130 51,557 Non-current liabilities Lease liabilities 41 404 Other non-current liabilities 176 299 Total non-current liabilities 217 703 Total liabilities 39,347 52,260 Total shareholders' deficits (8,340) (13,676) Noncontrolling interests 149 341 Total deficits (8,191) (13,335) Total liabilities and shareholders' deficits 31,156 38,925 51TALK ONLINE EDUCATION GROUP UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (In thousands except for number of shares and per share data) For the three months ended For the nine months ended Sep. 30, Jun. 30, Sep. 30, Sep. 30, Sep. 30, 2023 2024 2024 2023 2024 US$ US$ US$ US$ US$ Net revenues 7,828 10,960 14,047 19,640 34,453 Cost of revenues (1,858) (2,400) (2,985) (4,454) (7,513) Gross profit 5,970 8,560 11,062 15,186 26,940 Operating expenses Sales and marketing expenses (6,905) (7,335) (8,171) (16,455) (23,234) Product development expenses (868) (851) (839) (2,224) (2,635) General and administrative expenses (2,048) (2,789) (2,838) (5,860) (8,216) Total operating expenses (9,821) (10,975) (11,848) (24,539) (34,085) Loss from operations (3,851) (2,415) (786) (9,353) (7,145) Interest income 29 63 57 98 202 Other (expenses)/income, net (43) 1,131 130 (163) 1,402 Loss before income tax benefit/(expenses) (3,865) (1,221) (599) (9,418) (5,541) Income tax benefit/(expenses) 1 (41) (51) 53 (114) Net loss (3,864) (1,262) (650) (9,365) (5,655) Net loss attributable to noncontrolling interests - (15) (17) - (51) Net loss attributable to the Company's ordinary shareholders (3,864) (1,247) (633) (9,365) (5,604) Weighted average number of ordinary shares used in computing basic and diluted loss per share 341,725,689 346,701,530 347,705,165 340,473,316 346,515,235 51TALK ONLINE EDUCATION GROUP UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (In thousands except for number of shares and per share data) For the three months ended For the nine months ended Sep. 30, Jun. 30, Sep. 30, Sep. 30, Sep. 30, 2023 2024 2024 2023 2024 US$ US$ US$ US$ US$ Net loss per share attributable to ordinary shareholders Basic and diluted (0.01) (0.00) (0.00) (0.03) (0.02) Net loss per ADS attributable to ordinary shareholders Basic and diluted (0.68) (0.22) (0.11) (1.65) (0.97) Share-based compensation expenses are included in the operating expenses as follows: Sales and marketing expenses (33) (31) (27) (118) (87) Product development expenses (44) (24) (29) (134) (86) General and administrative expenses (166) (180) (149) (412) (554) 51TALK ONLINE EDUCATION GROUP Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures (In thousands except for number of shares and per share data) For the three months ended For the nine months ended Sep. 30, Jun. 30, Sep. 30, Sep. 30, Sep. 30, 2023 2024 2024 2023 2024 US$ US$ US$ US$ US$ Sales and marketing expenses (6,905) (7,335) (8,171) (16,455) (23,234) Less: Share-based compensation expenses (33) (31) (27) (118) (87) Non-GAAP sales and marketing expenses (6,872) (7,304) (8,144) (16,337) (23,147) Product development expenses (868) (851) (839) (2,224) (2,635) Less: Share-based compensation expenses (44) (24) (29) (134) (86) Non-GAAP product development expenses (824) (827) (810) (2,090) (2,549) General and administrative expenses (2,048) (2,789) (2,838) (5,860) (8,216) Less: Share-based compensation expenses (166) (180) (149) (412) (554) Non-GAAP general and administrative expenses (1,882) (2,609) (2,689) (5,448) (7,662) Operating expenses (9,821) (10,975) (11,848) (24,539) (34,085) Less: Share-based compensation expenses (243) (235) (205) (664) (727) Non-GAAP operating expenses (9,578) (10,740) (11,643) (23,875) (33,358) Loss from operations (3,851) (2,415) (786) (9,353) (7,145) Less: Share-based compensation expenses (243) (235) (205) (664) (727) Non-GAAP loss from operations (3,608) (2,180) (581) (8,689) (6,418) 51TALK ONLINE EDUCATION GROUP Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures (In thousands except for number of shares and per share data) For the three months ended For the nine months ended Sep. 30, Jun. 30, Sep. 30, Sep. 30, Sep. 30, 2023 2024 2024 2023 2024 US$ US$ US$ US$ US$ Income tax benefit/(expenses) 1 (41) (51) 53 (114) Less: Tax impact of Share-based compensation expenses - - - - - Non-GAAP income tax benefit/(expenses) 1 (41) (51) 53 (114) Net loss attributable to the Company's ordinary shareholders (3,864) (1,247) (633) (9,365) (5,604) Less: Share-based compensation expenses (243) (235) (205) (664) (727) Non-GAAP net loss attributable to the Company's ordinary shareholders (3,621) (1,012) (428) (8,701) (4,877) Weighted average number of ordinary shares used in computing basic and diluted loss per share 341,725,689 346,701,530 347,705,165 340,473,316 346,515,235 Non-GAAP net loss per share attributable to ordinary shareholders Basic and Diluted (0.01) (0.00) (0.00) (0.03) (0.01) Non-GAAP net loss per ADS attributable to ordinary shareholders Basic and Diluted (0.64) (0.18) (0.07) (1.53) (0.84)
NEW YORK, Dec. 13, 2024 /PRNewswire/ -- Maitong Sunshine Cultural Development Co., Ltd (OTCQB: MGSD), an enterprise that provides cultural tourism services and other related services and products, announced its financial results for the year ended September 30, 2024. Shang Jia, CFO of MGSD, said, "MGSD has experienced rapid growth in fiscal year 2024, with a total annual revenue of $0.8 million, an increase of 7230% compared to the last fiscal year. This year's performance indicates that the company's sales and service systems have been successfully established. We are highly optimistic about the future of the cultural travel industry, and the future of MGSD is highly anticipated. Financial Summary for the year ended September 30, 2024 MGSD commenced operations on September 7, 2023, the company's sales and service systems have been quickly and successfully established, and financial results show that total revenue for fiscal year 2024 (October 2023 to September 2024) was $804,887, an increase of $793,906 (7230%) compared to previous fiscal year (September 7, 2023 to September 30, 2023) of $10,981. Beijing Tongzhilian, a business operating subsidiary of MGSD, provides cultural tourism services and related services and products and added product sales operations to its business in the last quarter of the fiscal year 2024. Beijing Tongzhilian will continue to expand its cultural and tourism business and product sales as planned, and will continue to add new business content and forms. For the year ended September 30, 2024, total operating costs was $439,260 and operating expenses were $388,580, as a group listed in the U.S. in the current financial year, incurring more listing-related and start-up costs, the professional fees and related expenses was $142,401, this resulted a net loss of $30,810 for the year ended September 30, 2024, and a decrease in EBITDA to a loss of $21,304, a 47% decrease in loss. Financial Highlights:Revenues - MGSD achieved a revenue of $0.8 million in fiscal year of 2024, has initially established a sales service system, and has set up two product lines for cultural and tourism product sales and gift product sales, and has acted swiftly with a promising future. Cautionary Note Regarding Forward-Looking Statements:This release contains "forward-looking" statements. All forward-looking statements are subject to uncertainty and changes in circumstances. Forward-looking statements are not guarantees of future results or performance and involve risks, assumptions and uncertainties that could cause actual events or results to differ materially from the events or results described in, or anticipated by, the forward-looking statements. Factors that could materially affect such forward-looking statements include certain economic, business and regulatory risks and factors identified in the Company's periodic reports filed with the Securities and Exchange Commission. All forward-looking statements are made only as of the date of this release and the Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. CONTACT: mary20116688@163.com RELATED LINKS:Maitong Sunshine Cultural Development Co., Limitedwww.maitongsunshine.com
TOKYO, Dec. 12, 2024 /PRNewswire/ -- The JPX Market Innovation & Research, Inc., a group company of Japan Exchange Group, Inc. (JPX), began provision of "JPxData Portal (beta version)" (hereinafter referred to as "the Portal"), a data portal to browse the over 200 data types provided by JPX and partner companies including basic information and disclosure materials from Tokyo Stock Exchange (TSE) listed companies as well as search by characteristic and usage method, as of August 2024. Update ContentsWe have implemented the following updates to the Portal:- Addition of indicators for analysis (including stock price, market capitalization, earnings) to the details page of each company's issue profile. For detailed usage information, please click on the following link.JPxData Portal (beta version) "Tutorial: How to Use Company Search"(https://clientportal.jpx.co.jp/ClientPortalEN/s/recipe2024040504) Learn More about "JPxData Portal (beta version)" For JPxData Portal (beta version) website, please click on the following link.JPxData Portal (beta version) : https://clientportal.jpx.co.jp/ClientPortalEN/s/ Future update plansWe are continuing to consider development of the following additional features:- Login function and additional features for logged-in users- Procedural functions related to contracts- Simple data analysis functions- Collaboration with external partners About JPX Market Innovation & ResearchJPX Market Innovation & Research, Inc. (JPXI) was established as a subsidiary of Japan Exchange Group, Inc. (TOKYO:8697) in 2022. It consolidates JPX Group's data/index services and system-related services, and leads further business enhancement of JPX Group by leveraging IT technologies and new business partnerships. ContactFrontier Development Department,JPX Market Innovation & Research, Inc.E-mail: inf_dev@jpx.co.jpInquiry form: https://clientportal.jpx.co.jp/ClientPortalEN/s/InquiryFormEn
BEIJING, Dec. 12, 2024 /PRNewswire/ -- On December 11, 2024, Waterdrop Inc. (NYSE: WDH), a leading technology platform dedicated to insurance and healthcare services with a positive social impact, unveiled its unaudited financial results for the third quarter of 2024 ended September 30, 2024. During the quarter, Waterdrop reported net operating revenue of RMB 704.1 million. Net profit attributable to ordinary shareholders totaled RMB 92.8 million, up 152.6% from the previous year, sustaining profitability for the eleventh consecutive quarter. Operating expenses, including sales, administrative, and R&D costs, accounted for 47.9% of revenue, a decrease of 6.9 percentage points year-on-year. Since announcing its first share repurchase program in September 2021, as of September 2024, Waterdrop has repurchased approximately 50.9 million American Depositary Shares (ADSs) from the open market. Mr. Peng Shen, Founder, Chairman, and Chief Executive Officer of Waterdrop, commented, "We are delighted to announce another quarter of robust profitability, with net profit attributable to ordinary shareholders reaching 2.5 times that of the third quarter last year. Insurance Business Operating Profit Totaled RMB 123 Million Waterdrop's insurance-related revenue amounted to RMB 600.7 million in the third quarter of 2024. The insurance business operating profit reached RMB 123 million in Q3 2024. First-year premiums (FYPs) generated by insurance business amounted to RMB 2,041.8 million, representing an increase of 20.4% year over year. After introducing the "Three Good Services" of good service, good products, and good claims in April this year, on September 11th,Waterdrop Insurance Marketplace, in collaboration with 14 insurance companies, established the "Three Good Services Alliance" and launched the first batch of "Public Review Panels," constructing a new user-centric ecosystem for insurance services. AI Consultant, a conversational AI agent powered by "Waterdrop Guardian" large language model, has reached the capacity to generate million yuan in monthly premiums by serving user inquires. Meanwhile, a new application, "AI Service Quality Agent", was deployed to streamline the service quality inspection process by replacing manual work. Externally, a conversational AI platform that customizes AI sales agents for businesses, and have initiated pilots with insurance carriers and companies in non-insurance sectors. Waterdrop Medical Crowdfunding Raised RMB 66.3 Billion for 3.32 Million Patients During the quarter, Waterdrop Medical Crowdfunding upheld its mission of "saving lives" with remarkable success. As of September 30, 2024, around 466 million people cumulatively donated an aggregate of RMB 66.3 billion to 3.32 million patients through Waterdrop Medical Crowdfunding. Despite recording an operating loss of approximately RMB 17.9 million, the losses have narrowed compared to previous periods. Waterdrop's Digital Clinical Trial Solution has maintained its growth in the third quarter of 2024, generating revenues of approximately RMB 24.3 million. As of September 30, 2024, the Company had cumulatively enrolled over 9,500 patients into 1,137 clinical trial programs through the E-Find Platform. Shen Peng, Founder and CEO of Waterdrop, said, "This quarter, Waterdrop remained user-centric and explored innovations powered by Large Language Models to boost business growth, while also demonstrating resilient performance across our businesses. Moving forward, we will continue to build core capabilities and drive high-quality business growth by leveraging advanced technologies. We are committed to creating greater value for society and adhering to our mission: at Waterdrop, we aspire to bring insurance and healthcare services to billions through technology."
BEIJING, Dec. 11, 2024 /PRNewswire/ -- Cheetah Mobile Inc. ("Cheetah Mobile" or the "Company") (NYSE: CMCM), a China-based IT company, today announced that it will report its financial results for the third quarter ended September 30, 2024, before the U.S. market opens on Tuesday, December 17, 2024. The earnings release will be available on the Company's investor relations website at http://ir.cmcm.com. Cheetah Mobile's management will hold an earnings conference call at 6:00 AM on Tuesday, December 17, 2024, U.S. Eastern Time (7:00 PM on Tuesday, December 17, 2024, Beijing Time/Hong Kong Time). Participants may access the call by dialing the following numbers: Main Line: International: 1-412-317-6061United States Toll Free: 1-888-317-6003Mainland China Toll Free: 4001-206115Hong Kong Toll Free: 800-963976Conference ID: 7464171 English Translation: International: 1-412-317-6061United States Toll Free: 1-888-317-6003Mainland China Toll Free: 4001-206115Hong Kong Toll Free: 800-963976Conference ID: 0402119 The replay of the conference call will be accessible through December 24, 2024 by dialing the following numbers: Main Line: International: 1-412-317-0088 United States Toll Free: +1-877-344-7529Access Code: 9229412 English Translation: International: 1-412-317-0088United States Toll Free: 1-877-344-7529Access Code: 4935588 A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://ir.cmcm.com. About Cheetah Mobile Inc. Cheetah Mobile is a China-based IT company with a commitment to AI innovation. It has attracted hundreds of millions of users through an array of internet products and services on PCs and mobile devices. At the same time, it actively engages in the independent research and development of its AI technologies, including LLM technologies. Cheetah Mobile provides advertising services to advertisers worldwide, value-added services including the sale of premium membership to its users, multi-cloud management platform to companies globally, as well as service robots to international clients. Cheetah Mobile is also committed to leveraging its cutting-edge AI technologies, including LLM technologies, to empower its products and make the world smarter. It has been listed on the New York Stock Exchange since May 2014. For investor inquiries, please contact:Helen Jing ZhuCheetah Mobile Inc.Tel: +86 10 6292 7779Email: ir@cmcm.com
DUBAI, UAE, Dec. 10, 2024 /PRNewswire/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, announces the addition of SUI to its On-Chain Earn platform, providing users the ability to participate in blockchain security while earning staking rewards. To mark this launch, a 12,000 SUI bonus pool will be available to eligible participants staking SUI during the event period. Bybit Expands On-Chain Earn Offering with SUI Staking Event Details Duration: From now until Jan. 3, 2025, 11:59 PM (UTC) Bonus Pool: 12,000 SUI, distributed proportionally based on participants' staking amounts. Key Features of SUI Staking on Bybit Higher APY Potential: On-chain staking offers competitive annual percentage yields. Simplified Process: Bybit handles minor fees and distributes daily staking rewards directly to users. Support for Blockchain Decentralization: Staking supports the decentralization and security of blockchain networks. Flexibility: Participants can stake and redeem with ease, offering both convenience and accessibility. Staking Mechanics and Reward Distribution Users staking SUI on Bybit's On-Chain Earn during the event must maintain a staking period of at least 24 hours to qualify for earnings and the bonus pool. Rewards will be credited to users' Funding Accounts daily at 6:00 AM UTC, with no limits on the potential daily SUI earnings. "We are excited to enhance our On-Chain Earn platform with the addition of SUI staking," said Joan Han, Sales and Marketing Director of Bybit. "This staking initiative reflects our commitment to empowering users with innovative and accessible ways to grow their crypto assets." Bybit On-Chain Earn is an easy-to-use staking service that lets users earn rewards by staking crypto directly on the blockchain. Staking can be complicated, often requiring technical expertise and specialized hardware. Bybit On-Chain Earn simplifies this process by managing all the complexities — gas fees, node operations, and reward distribution — so users can stake popular PoS cryptocurrencies like ETH and SOL with just a few clicks. Find out more: SUI-percharge with On-Chain Earn: Stake SUI to Earn up to 12,000 SUI #Bybit / #TheCryptoArk About Bybit Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One's reigning Constructors' and Drivers' champions: the Oracle Red Bull Racing team. For more details about Bybit, please visit Bybit PressFor media inquiries, please contact: media@bybit.comFor more information, please visit: https://www.bybit.comFor updates, please follow: Bybit's Communities and Social Media Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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