Technology
Weibo Announces Second Quarter 2024 Unaudited Financial Results
Published
1 month agoon
By
BEIJING, Aug. 22, 2024 /PRNewswire/ — Weibo Corporation (“Weibo” or the “Company”) (Nasdaq: WB and HKEX: 9898), a leading social media in China, today announced its unaudited financial results for the second quarter ended June 30, 2024.
“Our user engagement and operating efficiency have further improved this quarter,” said Gaofei Wang, CEO of Weibo. “On the user front, we emphasized on the acquisition and engagement of high quality users and saw improved user engagement this quarter. On the content front, we further optimized our content ecosystem through reinforcement of our core strength and solid execution of our vertical content strategy. On the monetization front, we are encouraged to see Weibo’s strength in hot trends and vertical content ecosystem has become the key driver of topline recovery. Underpinned by our stabilized overall business and consistent disciplined spending, our operating efficiency has improved this quarter.”
Second Quarter 2024 Highlights
Net revenues were US$437.9 million, a decrease of 1% year-over-year or an increase of 1% year-over-year on a constant currency basis [1].Advertising and marketing revenues were US$375.3 million, a decrease of 3% year-over-year or a decrease of 1% year-over-year on a constant currency basis [1].Value-added services (“VAS”) revenues were US$62.6 million, an increase of 15% year-over-year or an increase of 18% year-over-year on a constant currency basis [1].Income from operations was US$135.4 million, representing an operating margin of 31%.Net income attributable to Weibo’s shareholders was US$111.9 million and diluted net income per share was US$0.43.Non-GAAP income from operations was US$157.6 million, representing a non-GAAP operating margin of 36%.Non-GAAP net income attributable to Weibo’s shareholders was US$126.3 million and non-GAAP diluted net income per share was US$0.48.Monthly active users (“MAUs”) were 583 million in June 2024.Average daily active users (“DAUs”) were 256 million in June 2024.
[1] We define constant currency (non-GAAP) by assuming that the average exchange rate in the second quarter of 2024 had been the same as it was in the second quarter of 2023, or RMB7.03=US$1.00.
Second Quarter 2024 Financial Results
For the second quarter of 2024, Weibo’s total net revenues were US$437.9 million, a decrease of 1% compared to US$440.2 million for the same period last year.
Advertising and marketing revenues for the second quarter of 2024 were US$375.3 million, a decrease of 3% compared to US$385.7 million for the same period last year. Advertising and marketing revenues excluding advertising revenues from Alibaba were US$342.9 million, a decrease of 4% compared to US$358.9 million for the same period last year.
VAS revenues for the second quarter of 2024 were US$62.6 million, an increase of 15% year-over-year compared to US$54.6 million for the same period last year, primarily driven by the growth of revenues from membership services.
Costs and expenses for the second quarter of 2024 totaled US$302.5 million, a decrease of 5% compared to US$316.8 million for the same period last year. In addition to the foreign exchange impact, the decrease mainly resulted from lower personnel related costs.
Income from operations for the second quarter of 2024 was US$135.4 million, compared to US$123.5 million for the same period last year. Operating margin was 31%, compared to 28% last year. Non-GAAP income from operations was US$157.6 million, compared to US$153.8 million for the same period last year. Non-GAAP operating margin was 36%, compared to 35% last year.
Non-operating income for the second quarter of 2024 was US$11.4 million, compared to non-operating loss of US$13.8 million for the same period last year. Non-operating income for the second quarter of 2024 mainly included (i) net interest and other income of US$11.2 million; (ii) gain from fair value change of investments of US$9.3 million, which was excluded under non-GAAP measures; and (iii) impairment in equity investment of US$9.0 million, which was excluded under non-GAAP measures.
Income tax expenses for the second quarter of 2024 were US$33.3 million, compared to US$25.5 million for the same period last year. The increase was primarily due to withholding tax accrued related to earnings to be remitted to Weibo Hong Kong Limited from its wholly-owned subsidiary in China.
Net income attributable to Weibo’s shareholders for the second quarter of 2024 was US$111.9 million, compared to US$81.4 million for the same period last year. Diluted net income per share attributable to Weibo’s shareholders for the second quarter of 2024 was US$0.43, compared to US$0.34 for the same period last year. Non-GAAP net income attributable to Weibo’s shareholders for the second quarter of 2024 was US$126.3 million, compared to US$126.4 million for the same period last year. Non-GAAP diluted net income per share attributable to Weibo’s shareholders for the second quarter of 2024 was US$0.48, compared to US$0.53 for the same period last year.
As of June 30, 2024, Weibo’s cash, cash equivalents and short-term investments totaled US$2.8 billion. For the second quarter of 2024, cash provided by operating activities was US$132.1 million, capital expenditures totaled US$10.3 million, and depreciation and amortization expenses amounted to US$14.5 million.
Conference Call
Weibo’s management team will host a conference call from 7:00 AM to 8:00 AM Eastern Time on August 22, 2024 (or 7:00 PM to 8:00 PM Beijing Time on August 22, 2024) to present an overview of the Company’s financial performance and business operations.
Participants who wish to dial in to the teleconference must register through the below public participant link. Dial in and instruction will be in the confirmation email upon registering.
Participants Registration Link:
https://register.vevent.com/register/BI8263b36dae6d4ec0b241bfee48aa09d0
Additionally, a live and archived webcast of this conference call will available at http://ir.weibo.com.
Non-GAAP Financial Measures
This release contains the following non-GAAP financial measures: non-GAAP income from operations, non-GAAP net income attributable to Weibo’s shareholders, non-GAAP diluted net income per share attributable to Weibo’s shareholders and adjusted EBITDA. These non-GAAP financial measures should be considered in addition to, not as a substitute for, measures of the Company’s financial performance prepared in accordance with U.S. GAAP.
The Company’s non-GAAP financial measures exclude stock-based compensation, amortization of intangible assets resulting from business acquisitions, net results of impairment and provision on investments, gain/loss on sale of investments and fair value change of investments, non-GAAP to GAAP reconciling items on the share of equity method investments, non-GAAP to GAAP reconciling items for the income/loss attributable to non-controlling interests, income tax expense related to the amortization of intangible assets resulting from business acquisitions and fair value change of investments (other non-GAAP to GAAP reconciling items have no tax effect), and amortization of issuance cost of convertible senior notes, unsecured senior notes and long-term loans. Adjusted EBITDA represents non-GAAP net income attributable to Weibo’s shareholders before interest income/expense, net, income tax expenses/benefits, and depreciation expenses.
The Company’s management uses these non-GAAP financial measures in their financial and operating decision-making, because management believes these measures reflect the Company’s ongoing operating performance in a manner that allows more meaningful period-to-period comparisons. The Company believes that these non-GAAP financial measures provide useful information to investors and others in the following ways: (i) in comparing the Company’s current financial results with the Company’s past financial results in a consistent manner, and (ii) in understanding and evaluating the Company’s current operating performance and future prospects in the same manner as management does. The Company also believes that the non-GAAP financial measures provide useful information to both management and investors by excluding certain expenses, gains/losses and other items (i) that are not expected to result in future cash payments or (ii) that are non-recurring in nature or may not be indicative of the Company’s core operating results and business outlook.
Use of non-GAAP financial measures has limitations. The Company’s non-GAAP financial measures do not include all income and expense items that affect the Company’s operations. They may not be comparable to non-GAAP financial measures used by other companies. Accordingly, care should be exercised in understanding how the Company defines its non-GAAP financial measures. Reconciliations of the Company’s non-GAAP financial measures to the nearest comparable GAAP measures are set forth in the section below titled “Unaudited Reconciliation of Non-GAAP to GAAP Results.”
About Weibo
Weibo is a leading social media for people to create, share and discover content online. Weibo combines the means of public self-expression in real time with a powerful platform for social interaction, content aggregation and content distribution. Any user can create and post a feed and attach multi-media and long-form content. User relationships on Weibo may be asymmetric; any user can follow any other user and add comments to a feed while reposting. This simple, asymmetric and distributed nature of Weibo allows an original feed to become a live viral conversation stream.
Weibo enables its advertising and marketing customers to promote their brands, products and services to users. Weibo offers a wide range of advertising and marketing solutions to companies of all sizes. Weibo generates a substantial majority of its revenues from the sale of advertising and marketing services, including the sale of social display advertisement and promoted marketing offerings. Weibo displays content in a simple information feed format and offers native advertisement that conform to the information feed on our platform. We are continuously refining our social interest graph recommendation engine, which enables our customers to perform people marketing and target audiences based on user demographics, social relationships, interests and behaviors, to achieve greater relevance, engagement and marketing effectiveness.
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,” “future,” “intends,” “plans,” “believes,” “confidence,” “estimates” and similar statements. Among other things, Weibo’s expected financial performance and strategic and operational plans, as described, without limitation, in quotations from management in this press release, contain forward-looking statements. Weibo may also make written or oral forward-looking statements in the Company’s periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), 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 the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, Weibo’s limited operating history in certain new businesses; failure to sustain or grow active user base and the level of user engagement; the uncertain regulatory landscape in China; fluctuations in the Company’s quarterly operating results; the Company’s reliance on advertising and marketing sales for a majority of its revenues; failure to successfully develop, introduce, drive adoption of or monetize new features and products; failure to compete effectively for advertising and marketing spending; failure to successfully integrate acquired businesses; risks associated with the Company’s investments, including equity pick-up and impairment; failure to compete successfully against new entrants and established industry competitors; changes in the macro-economic environment, including the depreciation of the Renminbi; and adverse changes in economic and political policies of the PRC government and its impact on the Chinese economy. Further information regarding these and other risks is included in Weibo’s annual reports on Form 20-F and other filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press release is current as of the date hereof, and Weibo assumes no obligation to update such information, except as required under applicable law.
Contact:
Investor Relations
Weibo Corporation
Phone: +86 10 5898-3336
Email: ir@staff.weibo.com
WEIBO CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands of U.S. dollars, except per share data)
Three months ended
Six months ended
June 30,
March 31,
June 30,
June 30,
June 30,
2023
2024
2024
2023
2024
Net revenues:
Advertising and marketing
$ 385,674
$ 338,951
$ 375,277
$ 740,974
$ 714,228
Value-added services
54,566
56,546
62,596
113,044
119,142
Net revenues
440,240
395,497
437,873
854,018
833,370
Costs and expenses:
Cost of revenues (1)
94,272
86,821
89,790
180,125
176,611
Sales and marketing (1)
105,425
103,627
114,232
211,919
217,859
Product development (1)
92,945
80,726
71,689
183,621
152,415
General and administrative (1)
24,145
24,586
26,777
58,410
51,363
Total costs and expenses
316,787
295,760
302,488
634,075
598,248
Income from operations
123,453
99,737
135,385
219,943
235,122
Non-operating income (loss):
Investment related income (loss), net
(25,190)
(4,970)
245
1,965
(4,725)
Interest and other income (loss), net
11,357
(18,611)
11,182
14,039
(7,429)
(13,833)
(23,581)
11,427
16,004
(12,154)
Income before income tax expenses
109,620
76,156
146,812
235,947
222,968
Less: Income tax expenses
25,450
25,044
33,275
47,302
58,319
Net income
84,170
51,112
113,537
188,645
164,649
Less: Net income attributable to non-controlling interests
257
548
471
813
1,019
Accretion to redeemable non-controlling interests
2,526
1,126
1,135
5,953
2,261
Net income attributable to Weibo’s shareholders
$ 81,387
$ 49,438
$ 111,931
$ 181,879
$ 161,369
Basic net income per share attributable to Weibo’s shareholders
$ 0.35
$ 0.21
$ 0.47
$ 0.77
$ 0.68
Diluted net income per share attributable to Weibo’s shareholders
$ 0.34
$ 0.19
$ 0.43
$ 0.77
$ 0.63
Shares used in computing basic net income per share attributable
to Weibo’s shareholders
235,361
236,694
237,124
235,035
236,909
Shares used in computing diluted net income per share attributable
to Weibo’s shareholders
237,886
263,644
265,086
237,393
264,365
(1) Stock-based compensation in each category:
Cost of revenues
$ 2,238
$ 1,773
$ 1,527
$ 4,774
$ 3,300
Sales and marketing
4,113
3,823
3,211
8,726
7,034
Product development
13,256
10,438
8,293
27,056
18,731
General and administrative
6,460
4,978
4,176
13,136
9,154
WEIBO CORPORATION
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands of U.S. dollars)
As of
December 31,
June 30,
2023
2024
Assets
Current assets:
Cash and cash equivalents
$ 2,584,635
$ 1,922,371
Short-term investments
641,035
915,637
Accounts receivable, net
440,768
371,291
Prepaid expenses and other current assets
359,881
348,135
Amount due from SINA(1)
486,397
466,915
Current assets subtotal
4,512,716
4,024,349
Property and equipment, net
220,663
212,451
Goodwill and intangible assets, net
300,565
283,646
Long-term investments
1,320,386
1,281,402
Other non-current assets
926,028
1,300,437
Total assets
$ 7,280,358
$ 7,102,285
Liabilities, Redeemable Non-controlling Interests and Shareholders’ Equity
Liabilities:
Current liabilities:
Accounts payable
$ 161,493
$ 150,456
Accrued expenses and other current liabilities
666,833
625,542
Income tax payable
94,507
54,688
Deferred revenues
75,187
88,596
Unsecured senior notes
799,325
799,993
Current liabilities subtotal
1,797,345
1,719,275
Long-term liabilities:
Convertible senior notes
317,625
319,232
Unsecured senior notes
743,695
744,179
Long-term loans
791,647
793,479
Other long-term liabilities
112,430
112,553
Total liabilities
3,762,742
3,688,718
Redeemable non-controlling interests
68,728
38,217
Shareholders’ equity :
Weibo shareholders’ equity
3,398,735
3,325,636
Non-controlling interests
50,153
49,714
Total shareholders’ equity
3,448,888
3,375,350
Total liabilities, redeemable non-controlling interests and
shareholders’ equity
$ 7,280,358
$ 7,102,285
(1) Included short-term loans to and interest receivable from SINA of
US$445.2 million as of December 31, 2023 and US$430.1 million as of June 30, 2024.
WEIBO CORPORATION
UNAUDITED RECONCILIATION OF NON-GAAP TO GAAP RESULTS
(In thousands of U.S. dollars, except per share data)
Three months ended
Six months ended
June 30,
March 31,
June 30,
June 30,
June 30,
2023
2024
2024
2023
2024
Income from operations
$
123,453
$
99,737
$
135,385
$
219,943
$
235,122
Add:
Stock-based compensation
26,067
21,012
17,207
53,692
38,219
Amortization of intangible assets resulting from business acquisitions
4,271
5,059
5,011
8,710
10,070
Non-GAAP income from operations
$
153,791
$
125,808
$
157,603
$
282,345
$
283,411
Net income attributable to Weibo’s shareholders
$
81,387
$
49,438
$
111,931
$
181,879
$
161,369
Add:
Stock-based compensation
26,067
21,012
17,207
53,692
38,219
Amortization of intangible assets resulting from business
acquisitions
4,271
5,059
5,011
8,710
10,070
Investment related gain/loss, net (1)
25,190
4,970
(245)
(1,965)
4,725
Non-GAAP to GAAP reconciling items on the share of equity
method investments
(11,262)
25,358
(8,412)
(7,079)
16,946
Non-GAAP to GAAP reconciling items for the income/loss
attributable to non-controlling interests
(156)
(436)
(435)
(313)
(871)
Tax effects on non-GAAP adjustments (2)
(727)
(1,103)
(1,082)
(531)
(2,185)
Amortization of issuance cost of convertible senior notes, unsecured
senior notes and long-term loans
1,606
2,314
2,277
3,212
4,591
Non-GAAP net income attributable to Weibo’s shareholders
$
126,376
$
106,612
$
126,252
$
237,605
$
232,864
Non-GAAP diluted net income per share attributable to Weibo’s
shareholders
$
0.53
$
0.41
*
$
0.48
*
$
1.00
$
0.89
*
Shares used in computing GAAP diluted net income per share attributable
to Weibo’s shareholders
237,886
263,644
265,086
237,393
264,365
Shares used in computing non-GAAP diluted net income per share
attributable to Weibo’s shareholders
237,886
263,644
265,086
237,393
264,365
Adjusted EBITDA:
Net income attributable to Weibo’s shareholders
$
81,387
$
49,438
$
111,931
$
181,879
$
161,369
Non-GAAP adjustments
44,989
57,174
14,321
55,726
71,495
Non-GAAP net income attributable to Weibo’s shareholders
126,376
106,612
126,252
237,605
232,864
Interest (income) expense, net
1,366
(9,151)
(9,410)
(8,377)
(18,561)
Income tax expenses
26,177
26,147
34,357
47,834
60,504
Depreciation expenses
9,962
9,417
9,169
20,563
18,586
Adjusted EBITDA
$
163,881
$
133,025
$
160,368
$
297,625
$
293,393
Net revenues
$
440,240
$
395,497
$
437,873
$
854,018
$
833,370
Non-GAAP operating margin
35 %
32 %
36 %
33 %
34 %
(1)
To adjust impairment and provision on investments, gain/loss on sale of investments and fair value change of investments.
(2)
To adjust the income tax effects of non-GAAP adjustments, which primarily related to amortization of intangible assets resulting from business acquisitions and fair value
change of investments. Other non-GAAP adjustment items have no tax effect, because (i) they were recorded in entities established in tax free jurisdictions, or (ii) full
valuation allowances were provided for related deferred tax assets as it is more-likely-than-not they will not be realized.
*
Net income attributable to Weibo’s shareholders is adjusted for interest expense of convertible senior notes for calculating diluted EPS.
WEIBO CORPORATION
UNAUDITED ADDITIONAL INFORMATION
(In thousands of U.S. dollars)
Three months ended
Six months ended
June 30,
March 31,
June 30,
June 30,
June 30,
2023
2024
2024
2023
2024
Net revenues
Advertising and marketing
Non-Ali advertisers
$ 358,894
$ 316,400
$ 342,868
$ 695,925
$ 659,268
Alibaba – as an advertiser
26,780
22,551
32,409
45,049
54,960
Subtotal
385,674
338,951
375,277
740,974
714,228
Value-added services
54,566
56,546
62,596
113,044
119,142
$ 440,240
$ 395,497
$ 437,873
$ 854,018
$ 833,370
View original content:https://www.prnewswire.com/news-releases/weibo-announces-second-quarter-2024-unaudited-financial-results-302228379.html
SOURCE Weibo Corporation
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SOURCE Informa Markets Asia; Data Center Asia
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Green Intelligent Passenger Transport Solutions
CRRC will showcase its environmentally responsible and intelligent passenger transport solutions, which include the Intelligent EMU, Intercity/Regional EMU, Intelligent Urban Rail Transit, and New Energy Passenger Transportation. These offerings cater to every speed level and application scenario, envisioning a future of passenger transport that is faster, greener, smarter, and more cost-effective.
The exhibition will highlight standout products that are redefining passenger mobility, including the 350 km/h High-Speed Intelligent EMU, the CINOVA 2.0 New Intelligent Intercity/Regional EMU, the 160 km/h Hydrogen Full-Automatic Intelligent Regional Train, and the Autonomous Rail Rapid Transit (ART).
Diversified Freight Transport Solutions
CRRC introduce a wide range of heavy-duty, fast, and environmentally responsible solutions during the event. To address the growing demand for higher freight capacity, CRRC plans to unveil several new products, among them, the 24-axle Freight Electric Locomotive and the 45-ton Axle Load Ore Car. The 350 km/h High-Speed Freight EMU, the fastest and the most spacious in the industry, will be a focal point. In line with the global push for green transportation, CRRC will launch its serialized new energy locomotives, including the diesel-battery hybrid locomotive, the power battery locomotive, and the hydrogen-battery hybrid locomotive, with power levels from 1000KW to 2000KW. The diversified solutions offer more choices for the global railway freight industry.
Full Life-Cycle System Solutions
CRRC will showcase its expertise beyond just train units with the Train-Ground Integrated Electromechanical System (TIES), a game-changer that centers on the vehicle and incorporates all related operating scenarios. The system reconstructs, integrates, and optimizes the electromechanical system for power supply, signaling, track, depot and passenger service scenarios. It exemplifies the Train-Ground Integration concept, driving overall efficiency gains across disciplines and throughout the entire vehicle-road-station-depot lifecycle.
Focusing on user experience and the diverse needs of the global rail transit market, CRRC will give a detailed presentation on its Digital Life-Cycle System Solution (DLS) at the event. The flexible solution accommodates various city sizes and populations through tailored system designs that support diverse business models such as PPP (public-private partnership), system integration, and electro-mechanical turnkey projects.
For more information about CRRC at the exhibition, please visit https://www.crrcgc.cc/en/.
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SOURCE CRRC Corporation Limited
Technology
Reshaping Future Lifestyles: Markor Unveils AI Strategy at the Apsara Conference
Published
2 hours agoon
September 23, 2024By
BEIJING, Sept. 21, 2024 /PRNewswire/ — On September 19, the 2024 China Apsara Conference, a major annual event for the Chinese cloud computing industry, commenced in Hangzhou. Over three days, industry representatives, media professionals, and numerous AI technology enthusiasts gathered to witness the event’s grandeur.
This year’s summit, themed “AI on Cloud: Recharging• Innovating • Transforming,” spotlighted the evolution of cloud computing across various sectors in the AI era, presenting the world’s largest showcase of generative AI applications. Industry giants including NVIDIA, Intel, Alibaba Cloud, and Tesla were in attendance. Markor distinguished itself as the sole home furnishing company represented at the summit, presenting its cutting-edge “AI Smart Home” system, which introduced a new era of AI-driven home consumption experiences, attracting significant attention.
Live at the Scene: Markor’s AI Smart Home Takes a Giant Leap Forward
From its transition to new retail in recent years to its embrace of AI, the home furnishing industry’s exploration and implementation of AI have drawn immense attention. It has been recognized as a long-term strategy that will influence the future of urban living and people’s quality of life.
In 2023, dubbed the first year of AI in China, Markor led the industry by launching its AI-powered home application, “AI Smart Home.” This program integrates cutting-edge AI model technology with a curated selection of best-selling products, offering features such as a home knowledge encyclopedia, lifestyle analysis and recommendations, design style suggestions, furniture recommendations, and one-click product replacements, providing users with 24/7 intelligent home design and easy home setup solutions.
The AI Smart Home system revolutionizes traditional home setup processes, enabling users to enjoy services conveniently via mobile devices. At the summit, Markor provided live demonstrations of the AI Smart Home system, with an interactive area for hands-on experiences. The system’s ease of use, wide range of style options, instant results, one-click sharing, and seamless purchasing capabilities ushered in a new era, allowing attendees to transition from imagining AI-powered home setups to instantly experiencing full-room services. The audience was left impressed and full of praise.
As the world’s first AI multimodal model for professional interior design, and the only AI application to incorporate a large language model in home furnishing retail, the AI Smart Home offers flexible and dynamic solutions that go beyond pre-existing layout-generated designs. It represents a groundbreaking leap in the home industry, emerging as a leading tool that reshapes service ecosystems.
Open, Shared, and Collaborative AI Business Achievements Define AI’s Sustainable Future
As a traditional home furnishing retailer closely tied to people’s daily lives, the success of AI Smart Home is no coincidence. Markor’s global strategy and presence ensure that the brand remains open and internationally competitive. Whether through prestigious awards or its global manufacturing footprint, each leap in innovation is supported by its competitive edge.
Since the beta launch of AI Smart Home by Markor Furnishings, a home furnishing brand under Markor, it has recorded over 50,000 page visits in a short time, with tens of thousands of users generating sales orders worth tens of millions of yuan. This achievement has boosted confidence in the traditional industry’s digital transformation.
A representative of Markor at the summit stated, “AI represents openness, and Markor has always embraced the times through an open ecosystem to meet users’ needs. With over 20 years of accumulated lifestyle experience, we aim to extend the reach of quality living experiences through AI interaction and expansion. The true sustainable future of AI lies in achieving shared success among users, brands, and technology platforms.”
It is evident that Markor is not simply focused on app development; it is committed to a long-term strategy that builds AI-driven lifestyles and reshapes business models. By creating personalized shopping experiences and innovating marketing models that cater to new consumer demands, Markor’s AI-based tools like “AI Xiaomei” and “AI Smart Home” serve as personalized recommendation and virtual design solutions. The company is poised to further enhance its services by leveraging AI to accurately predict market trends, optimize advertising effectiveness, and upgrade customer solutions, thus driving marketing conversion opportunities. Through disruptive shopping experiences and business models, Markor aims to become the world’s first AI-driven home furnishing brand with a fully digital and intelligent shopping experience.
Pioneering Future Living with AI: Unlocking New Opportunities
Markor is committed to leveraging technological convenience, unlocking potential, and sharing technological benefits. As a trailblazer in quality living, its development path consistently follows a “science + art” approach, which has proven to be a long-term strategy in line with current market trends. In 2024, Markor was honored with the title of “Outstanding Home Furnishing Brand Enterprise of 2024.” Its sub-brand, Markor Furnishings, reached a new brand value of over 32.2 billion yuan, securing a spot in the “Top 100 New Quality Home Brands of 2024” and winning the “Home Service Excellence Award” for the 13th consecutive year.
Backed by its national-level Industrial Design Center, robust R&D systems, and global operational capabilities, Markor continues to invigorate the ecosystem through digitalization, intelligence, and supply chain integration. With AI Smart Home as the bridge, Markor is reigniting public interest and confidence in AI’s potential and advancing the commercialization of AI technologies like natural language processing. It is building a continually open-source platform for both DTC end-users and B2B interior designers.
In July 2024, Markor hosted the “Art + AI + Life” forum in Beijing and launched a national AI painting and design competition, further embedding AI practices in the industry. In September, it signed a strategic partnership with the AI technology leader Shengshu Technology to break new ground in product design, manufacturing, marketing content innovation, and service experience. This collaboration will fuel the company’s efforts toward smart, personalized home furnishing upgrades, setting new benchmarks in the industry. These initiatives underscore Markor’s determination to use AI to enhance its future competitiveness.
Democratizing design empowers everyone to shape their dreams and take control of their future. Markor’s ongoing AI strategy not only provides opportunities for those pursuing a better life but also highlights new possibilities in the ever-evolving home living landscape.
View original content:https://www.prnewswire.com/news-releases/reshaping-future-lifestyles-markor-unveils-ai-strategy-at-the-apsara-conference-302255015.html
SOURCE Markor International Home Furnishings
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