Technology
JCET Revenues of Q3 2024 and Q3 YTD 2024 Hit New Record High, Q3 Net Profit after Deducting Non-Recurring Items Increased by 19.5% Year-on-Year
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9 hours agoon
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Q3 2024 Financial Highlights:
Revenue was RMB 9.49 billion, an increase of 14.9% year-on-year and 9.8% quarter-on-quarter, a record quarter in the company’s history.Net profit attributable to owners of the parent was RMB 0.46 billion. Net profit attributable to owners of the parent after deducting non-recurring gains and losses was RMB 0.44 billion, an increase of 19.5% year-on-year.
Q3 YTD 2024 Financial Highlights:
Revenue was RMB 24.98 billion, an increase of 22.3% year-on-year, a record high in the company’s history.Net profit attributable to owners of the parent was RMB 1.08 billion, an increase of 10.6% year-on-year.Earnings per share was RMB 0.60, as compared to RMB 0.54 in Q3 YTD 2023.
SHANGHAI, Oct. 25, 2024 /PRNewswire/ — Today, JCET Group (SSE: 600584), a leading global provider of integrated circuit (IC) back-end manufacturing and technology services, announced its financial results for the third quarter of 2024. The financial report shows that in the third quarter of 2024, JCET achieved revenue of RMB 9.49 billion, an increase of 14.9% year-on-year, a record quarter in the company’s history, and net profit attributable to owners of the parent of RMB 0.46 billion. Net profit attributable to owners of the parent after deducting non-recurring gains and losses was RMB 0.44 billion in Q3 2024, an increase of 19.5% year-on-year. In Q3 YTD 2024, JCET achieved revenue of RMB 24.98 billion, an increase of 22.3% year-on-year, a record high in the company’s history, and net profit attributable to owners of the parent of RMB 1.08 billion, an increase of 10.6% year-on-year.
The operations of JCET factories have rebounded since 2024, and the company’s capacity utilization rate is continuously increasing. In the first three quarters of this year, all business sector recovery has stabilized, and the company’s earlier strategic layout began to contribute incremental growth. In the first three quarters, the revenues of the four major applications, including communications, consumer, computing, and automotive electronics all achieved double-digit year-on-year growth, with communication electronics achieving a significant growth of nearly 40% year-on-year. The company strengthened inventory control and supply chain management to ensure efficient circulation of capital, generating RMB 3.93 billion cash from operations in Q3 YTD 2024, a year-on-year increase of 29.7%.
JCET’s acquisition of 80% equity of SanDisk (Shanghai), a global leading factory for memory chip packaging, has completed. This will further enhance the company’s intelligent manufacturing and expand its market share in the memory and computing electronics. JCET microelectronics microsystem integration high-end manufacturing base has been put into use, providing one-stop IC back-end manufacturing services and addressing global customers’ demand for high-performance chips.
Mr. Li Zheng, CEO of JCET, said, “JCET has actively promoted innovation in advanced packaging technology and capacity layout in recent years. Since the beginning of this year, the company business has continued to rebound, and its revenue in the first three quarters hits a new high in the company’s history. JCET will continue to focus on advanced technology and high value-added markets to support sustainable development.”
For more information, please refer to the JCET Q3 2024 Report.
CONSOLIDATED BALANCE SHEET (Unaudited)
RMB in millions
Sep 30, 2024
Dec 31, 2023
ASSETS
Current assets
Currency funds
9,257
7,325
Trading financial assets
2,003
2,306
Derivative financial assets
3
4
Accounts receivable
5,916
4,185
Receivables financing
35
38
Prepayments
133
104
Other receivables
117
87
Inventories
4,740
3,195
Other current assets
514
375
Total current assets
22,718
17,619
Non-current assets
Long-term receivables
33
33
Long-term equity investments
826
695
Other equity investments
434
447
Investment properties
83
86
Fixed assets
21,431
18,744
Construction in progress
2,728
1,053
Right-of-use assets
515
563
Intangible assets
745
662
Goodwill
3,546
2,248
Long-term prepaid expenses
10
17
Deferred tax assets
493
364
Other non-current assets
57
48
Total non-current assets
30,901
24,960
Total assets
53,619
42,579
LIABILITIES AND EQUITY
Sep 30, 2024
Dec 31, 2023
Current liabilities
Short-term borrowings
1,187
1,696
Notes payable
338
223
Accounts payable
8,143
4,782
Contract liabilities
316
185
Employee benefits payable
751
781
Taxes and surcharges payable
275
167
Other payables
385
354
Current portion of long-term liabilities
4,215
1,491
Other current liabilities
1
3
Total current liabilities
15,611
9,682
Non-current liabilities
Long-term borrowings
7,331
5,777
Lease liabilities
504
530
Long-term payables
833
0
Long-term employee benefits payable
15
14
Deferred income
424
384
Deferred tax liabilities
393
0
Other non-current liabilities
28
41
Total non-current liabilities
9,528
6,746
Total liabilities
25,139
16,428
Equity
Paid-in capital
1,789
1,789
Capital reserves
15,230
15,237
Accumulated other comprehensive income
410
543
Specialized reserves
1
0
Surplus reserves
257
257
Unappropriated profit
9,137
8,239
Total equity attributable to owners of the parent
26,824
26,065
Minority shareholders
1,656
86
Total equity
28,480
26,151
Total liabilities and equity
53,619
42,579
CONSOLIDATED INCOME STATEMENT (Unaudited)
RMB in millions, except share data
Three months ended
Nine months ended
Sep 30, 2024
Sep 30, 2023
Sep 30, 2024
Sep 30, 2023
Revenue
9,491
8,257
24,978
20,430
Less: Cost of sales
8,331
7,071
21,748
17,596
Taxes and surcharges
21
36
56
82
Selling expenses
69
55
187
155
Administrative expenses
100
190
533
536
Research and development expenses
413
413
1,232
1,082
Finance expenses
119
26
108
77
Including: Interest expenses
105
84
297
215
Interest income
69
35
210
70
Add: Other income
39
103
125
176
Investment income / (loss)
0
(12)
(14)
(34)
Including: Income / (loss) from investments in associates and joint ventures
(14)
(12)
(43)
(34)
Gain / (loss) on changes in fair value of financial assets/liabilities
3
17
(2)
62
Credit impairment (loss is expressed by “-“)
6
(2)
(1)
(3)
Asset impairment (loss is expressed by “-“)
(13)
(26)
(51)
(26)
Gain / (loss) on disposal of assets
(2)
5
3
21
Operating profit / (loss)
471
551
1,174
1,098
Add: Non-operating income
0
0
1
3
Less: Non-operating expenses
1
1
3
5
Profit / (loss) before income taxes
470
550
1,172
1,096
Less: Income tax expenses
16
72
101
122
Net profit / (loss)
454
478
1,071
974
Classified by continuity of operations
Profit / (loss) from continuing operations
454
478
1,071
974
Classified by ownership
Net profit / (loss) attributable to owners of the parent
457
478
1,076
974
Net profit / (loss) attributable to minority shareholders
(3)
0
(5)
0
Add: Unappropriated profit at beginning of period
8,680
7,293
8,239
7,154
Less: Cash dividends declared
0
0
178
357
Unappropriated profit at end of period (attributable to owners of the parent)
9,137
7,771
9,137
7,771
Other comprehensive income, net of tax
(181)
(70)
(133)
280
Comprehensive income attributable to owners of the parent
(181)
(70)
(133)
280
Comprehensive income not be reclassified to profit or loss
0
(7)
(13)
10
Remeasurement gains or losses of a defined benefit plan
0
0
0
1
Change in the fair value of other equity investments
0
(7)
(13)
9
Comprehensive income to be reclassified to profit or loss
(181)
(63)
(120)
270
Exchange differences of foreign currency financial statements
(181)
(63)
(120)
270
Total comprehensive income
273
867
938
1,254
Including:
Total comprehensive income attributable to owners of the parent
276
408
943
1,254
Total comprehensive income attributable to minority shareholders
(3)
0
(5)
0
Earnings per share
Basic earnings per share
0.25
0.26
0.60
0.54
Diluted earnings per share
0.25
0.26
0.60
0.54
CONSOLIDATED CASH FLOW STATEMENT (Unaudited)
RMB in millions
Three months ended
Nine months ended
Sep 30, 2024
Sep 30, 2023
Sep 30, 2024
Sep 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from the sale of goods and the rendering of services
9,011
7,574
25,601
20,737
Receipts of taxes and surcharges refunds
139
52
337
267
Other cash receipts relating to operating activities
92
126
375
289
Total cash inflows from operating activities
9,242
7,752
26,313
21,293
Cash payments for goods and services
6,742
5,840
17,996
14,293
Cash payments to and on behalf of employees
1,198
899
3,446
2,972
Payments of all types of taxes and surcharges
284
180
573
646
Other cash payments relating to operating activities
111
221
364
349
Total cash outflows from operating activities
8,335
7,140
22,379
18,260
Net cash flows from operating activities
907
612
3,934
3,033
CASH FLOWS FROM INVESTING ACTIVITIES
Cash receipts from returns of investments
3,600
3,601
12,650
11,881
Cash receipts from investment income
15
15
30
68
Net cash receipts from disposal of fixed assets, intangible assets and other long-term assets
1
99
6
131
Total cash inflows from investing activities
3,616
3,715
12,686
12,080
Cash payments to acquire fixed assets, intangible assets and other long-term assets
1,219
845
3,089
2,434
Cash payments for investments
4,000
5,181
12,350
11,161
Net cash payments for acquisition of subsidiaries and other business units
1,520
0
1,520
0
Total cash outflows from investing activities
6,739
6,026
16,959
13,595
Net cash flows from investing activities
(3,123)
(2,311)
(4,273)
(1,515)
CASH FLOWS FROM FINANCING ACTIVITIES
Cash proceeds from investments by others
0
32
776
262
Including: Cash receipts from capital contributions from minority shareholders of subsidiaries
0
0
765
86
Cash receipts from borrowings
2,050
4,823
5,057
6,487
Total cash inflows from financing activities
2,050
4,855
5,833
6,749
Cash repayments for debts
1,048
3,723
3,011
5,464
Cash payments for distribution of dividends or profit and interest expenses
83
78
435
545
Other cash payments relating to financing activities
21
22
74
69
Total cash outflows from financing activities
1,152
3,823
3,520
6,078
Net cash flows from financing activities
898
1,032
2,313
671
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
(46)
(7)
(42)
30
NET INCREASE IN CASH AND CASH EQUIVALENTS
(1,364)
(674)
1,932
2,219
Add: Cash and cash equivalents at beginning of period
10,621
5,346
7,325
2,453
CASH AND CASH EQUIVALENTS AT END OF PERIOD
9,257
4,672
9,257
4,672
About JCET Group
JCET Group is the world’s leading integrated-circuit manufacturing and technology services provider, offering a full range of turnkey services that include semiconductor package integration design and characterization, R&D, wafer probe, wafer bumping, package assembly, final test and drop shipment to vendors around the world.
Our comprehensive portfolio covers a wide spectrum of semiconductor applications such as mobile, communication, compute, consumer, automotive, and industrial, through advanced wafer-level packaging, 2.5D/3D, System-in-Package, and reliable flip chip and wire bonding technologies. JCET Group has two R&D centers in China and Korea, eight manufacturing locations in China, Korea, and Singapore, and sales centers around the world, providing close technology collaboration and efficient supply-chain manufacturing to our global customers.
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SOURCE JCET Group
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The online sports coaching platforms market to grow by USD 1.24 Billion from 2024-2028, driven by athlete involvement and AI-powered market transformation- Technavio
Published
43 seconds agoon
October 25, 2024By
NEW YORK, Oct. 25, 2024 /PRNewswire/ — Report with the AI impact on market trends – The Global Online Sports Coaching Platforms Market size is estimated to grow by USD 1.24 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 14.07% during the forecast period. Involvement of athletes and sportspersons in online sports coaching platforms is driving market growth, with a trend towards increasing internet penetration. However, availability of substitutes for online sports coaching platforms poses a challenge.Key market players include Actiquest Inc., Athletic Mentors, Coachbox, Coaching.com, CoachIQ, CoachNow, EDGE10 Group, Famous NYC Inc., FitSW Inc., FRONT RUSH LLC, GamePlanner Ltd., Netplay Sports Pvt Ltd, Online Sports Academy, Qridi Ltd, Sideline Sports, Siliconcoach, Simply Coach, SPORT.XYZ INC, Sporthood, Sportlyzer LLC, Sports Guru Tech India Private Ltd., SportsShare, TeamBuildr LLC , and TrainingPeaks LLC.
Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report
Online Sports Coaching Platforms Market Scope
Report Coverage
Details
Base year
2023
Historic period
2018 – 2022
Forecast period
2024-2028
Growth momentum & CAGR
Accelerate at a CAGR of 14.07%
Market growth 2024-2028
USD 1244.6 million
Market structure
Fragmented
YoY growth 2022-2023 (%)
12.2
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 48%
Key countries
US, China, and Japan
Key companies profiled
Actiquest Inc., Athletic Mentors, Coachbox, Coaching.com, CoachIQ, CoachNow, EDGE10 Group, Famous NYC Inc., FitSW Inc., FRONT RUSH LLC, GamePlanner Ltd., Netplay Sports Pvt Ltd, Online Sports Academy, Qridi Ltd, Sideline Sports, Siliconcoach, Simply Coach, SPORT.XYZ INC, Sporthood, Sportlyzer LLC, Sports Guru Tech India Private Ltd., SportsShare, TeamBuildr LLC , and TrainingPeaks LLC
Market Driver
Online coaching platforms in the sports industry have gained significant traction due to the expanding Internet access worldwide. With over 5.44 billion Internet users in 2023, representing 67.1% of the global population, these platforms offer unparalleled accessibility for athletes and fitness enthusiasts. Advanced technologies like AI, machine learning, and data analytics have been integrated into these platforms, enabling real-time performance monitoring and personalized training programs. The sports industry’s digital transformation is accelerating, as more coaches and athletes recognize the benefits of online platforms. Enhanced Internet connectivity supports this shift, making it easier for users to access resources, training modules, and performance analytics online. By 2030, the number of Internet users is expected to reach over 7.5 billion, fueling the growth of the global online sports coaching market.
The sports coaching market is booming with the rise of digital platforms. Sports coaching platforms provide teams and athletes with technology-driven solutions for virtual coaching sessions, video lectures, and educational materials. Performance tracking is a key feature, utilizing biometric sensors, wearable technology, and video analysis. AI and athlete data are used for sports analytics and personalized training plans. Coaches can offer one-time licensed or subscription-based models to reach a wider audience, including professional and non-professional athletes in soccer, basketball, swimming, baseball, and more. Platforms support various coaching methods such as autocratic, democratic, holistic, and athlete-centered techniques. Interactive learning, gamification, and cloud-based solutions enhance the online training experience. Wearable devices like Fitbit trackers and smartwatches are integrated for real-time monitoring and analysis.
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Market Challenges
The global online sports coaching market faces substantial competition from various alternatives, including traditional in-person coaching, free online content, self-directed training, wearable fitness devices, smart home gym equipment, local gyms, and community sports programs. These options provide athletes with diverse choices, making the market highly competitive. Free workout videos, training plans, and sports tutorials on platforms like YouTube and social media offer a cost-effective alternative. Wearable fitness devices and smart home gym equipment often include coaching features, potentially reducing the need for separate online coaching services. Local gyms and community sports programs offer personalized attention and hands-on guidance, appealing to some athletes. The increasing sophistication of AI-powered fitness apps with automated coaching erodes the perceived value of human-led online coaching. This array of alternatives puts pressure on online coaching platforms to differentiate their offerings and demonstrate clear value propositions to attract and retain users. Consequently, the availability of these substitutes will limit the growth of the global online sports coaching platforms market during the forecast period.The online sports coaching market is growing rapidly, offering various solutions for professionals and non-professionals alike. Biomechanics, training history, and performance metrics are key challenges for coaches, requiring advanced digital tools. Gamification, interactive learning, and wearable technologies enhance user experience. Cloud-based solutions offer accessibility, while sports analytics provides valuable insights. Soccer, basketball, swimming, and baseball coaches use digital coaching tools, AI, and fitness trackers like Fitbit or smartwatches with inbuilt sensors. One-time licensed and subscription-based models cater to different needs. Coaches employ autocratic, democratic, holistic, and athlete-centered methods, leveraging online training platforms. Wearable devices and cloud-based solutions enable real-time monitoring and analysis, improving overall performance.
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Segment Overview
This online sports coaching platforms market report extensively covers market segmentation by
Platform 1.1 Mobile apps1.2 Web-based platforms1.3 Hybrid platformsService Type2.1 Personal coaching2.2 Group coaching2.3 Skill development2.4 Fitness and conditioningGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa
1.1 Mobile apps- Mobile coaching apps have transformed the way athletes access training and guidance, with two main types catering to diverse fitness needs. Dedicated sports coaching apps, designed specifically for sports training, provide features such as video analysis, workout plans, and progress tracking. Multi-purpose fitness apps, on the other hand, offer a holistic approach to health and wellness with a range of workout routines, nutrition advice, and lifestyle tracking tools. Both types of apps have experienced significant demand due to their convenience, personalization, and expert guidance. Dedicated apps cater to athletes seeking specialized training, while multi-purpose apps appeal to those with diverse fitness goals. With advanced features like video demonstrations, performance tracking, and real-time feedback, mobile coaching apps bridge the gap between professional instruction and self-directed practice, making them an essential tool for athletes of all levels. The future looks promising for these apps as technology continues to advance, further enhancing the sports training experience and fueling the growth of the global online sports coaching platforms market.
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Research Analysis
The Online Sports Coaching Platforms market refers to digital platforms that provide sports coaching services using technology. These platforms offer various features such as video lectures, educational materials, virtual coaching sessions, and cloud-based solutions for athletes, both professional and non-professional. The technology enables real-time feedback and analysis using artificial intelligence and fitness trackers like Fitbit and smartwatches with inbuilt sensors. The coaching methods range from autocratic, democratic, holistic, and athlete-centered techniques. Soccer, Basketball, Swimming, and other sports benefit from these platforms. One-time licensed and subscription-based models cater to diverse needs. Online training enhances accessibility and flexibility, making it an attractive alternative to traditional coaching methods.
Market Research Overview
Online sports coaching platforms are digital solutions that leverage technology to provide athletes with access to coaches, educational materials, and performance tracking tools. These platforms offer video lectures, virtual coaching sessions, and interactive learning experiences. Athletes can benefit from biometric sensors, wearable technology, and video analysis to optimize their training and performance. AI and sports analytics are integral parts of these platforms, providing personalized training plans based on athlete data, biomechanics, training history, and performance metrics. Gamification and cloud-based solutions add to the engagement and convenience of online training. Both professional and non-professional athletes can access these platforms through a one-time licensed or subscription-based model. Sports covered include soccer, basketball, swimming, baseball, and more. Coaching methods range from autocratic to democratic, holistic, and athlete-centered, with wearable devices like Fitbit trackers and smartwatches enhancing the training experience.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
PlatformMobile AppsWeb-based PlatformsHybrid PlatformsService TypePersonal CoachingGroup CoachingSkill DevelopmentFitness And ConditioningGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
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Pharos Announces $5M Seed Round To Automate Hospital Quality Reporting
Published
44 seconds agoon
October 25, 2024By
SAN FRANCISCO, Oct. 25, 2024 /PRNewswire/ — Hospital quality reporting platform Pharos announced today the close of its oversubscribed $5M seed round led by Felicis with participation from General Catalyst, Moxxie and Y Combinator. Pharos will use the funds to grow its engineering team, allowing customers to report to new clinical quality registries and measure a wider range of process metrics.
Founded in 2024 by a team of clinicians and AI researchers, Pharos automates clinical quality reporting for hospitals, enabling submission to state and national quality registries without manual abstraction.
Additionally, by enabling automatic extraction of custom process metrics, Pharos helps quality teams identify the process failures that are contributing to patient harm, enabling action on issues like sepsis mortality, hospital-acquired infections, and pressure ulcers.
“Today, hospitals spend thousands of hours manually abstracting metrics from unstructured medical records to fulfill registry reporting requirements and understand patient safety events,” said Felix Brann, CEO and co-founder of Pharos. “This manual work is expensive, pulls clinical staff away from the front-line, and means that hospital teams get data long after patients are discharged. Pharos automates abstraction for quality reporting, letting hospitals report to new registries and track metrics that matter to them without adding to clinical reviewer backlogs. We give teams data in real-time, letting them take action on process gaps before they turn into patient harm.”
Brann was previously VP of Data Science at Vital. At Vital, he and Matthew Jones, CTO and co-founder, deployed live predictive AI into over 70 hospitals, integrating with every major electronic health record vendor. While trialing a sepsis model, they recognized the value AI could provide to hospital quality teams. Brann was previously VP of Quantitative Research at JP Morgan. He has published papers in major medical journals on sepsis prediction and medical record summarization using LLMs. Jones worked on the Orion Health EHR and grew M2X from inception to international expansion.
The team is also joined by Dr. Alex Clarke, Head of Research, an MD with a PhD in Artificial Intelligence from Imperial College London. He worked as a medical AI researcher at Meta and experienced the time-consuming medical abstraction process firsthand during his time as a resident doctor.
“When we met the Pharos team and learned about their deep expertise in both healthcare and AI, we knew we had to work with them,” said Ryan Isono, Partner at Felicis. “The mundane areas of healthcare administration make up nearly $1 trillion in spend annually. Pharos uses AI to automate the manual process of hospital quality reporting, which is dramatically underinvested in and can have a huge impact on not just savings but patient safety, too. The platform automates manual data abstraction from medical records, enabling hospitals to identify and resolve process failures in real time. With their experience deploying AI in 70+ hospitals and publishing relevant research, we couldn’t imagine a better team to tackle this problem.”
Numerous studies have shown that access to data and adherence to processes can have significant impacts on patient safety. The American College of Surgeons estimates that 60% of current surgical site infections are preventable with good process, and the same is true for many other patient harm events. Pharos’ mission is to help hospitals prevent this harm before it happens.
You can learn more about the company and the technology at https://pharos.health/
Media Contact
Ellie Tippett, KCPR
ellie@kcpr.com
About Pharos
Pharos automates hospital quality reporting and helps staff identify the root causes of avoidable harm. Their AI automates chart abstraction for quality registries and process adherence measures, reducing staff burden and providing data instantly, rather than weeks after discharge.
You can’t improve what you can’t measure. Pharos enables quality teams to see where and why safety issues are happening in real time, enabling them to take action on issues like sepsis mortality, hospital acquired infections and pressure ulcers.
Pharos is a mission-driven team of clinicians and AI researchers from Meta, J.P. Morgan and Orion Health. They recently raised $5m in funding from Felicis, General Catalyst, Moxxie and Y Combinator to enable hospital quality teams with AI.
About Felicis
Founded in 2006, Felicis is a venture capital firm investing in companies reinventing core markets, as well as those creating frontier technologies. Felicis focuses on early-stage investments and currently manages over $3B in capital across 9 funds. The firm is an early backer of more than 45 companies valued at $1B+. More than 100 of its portfolio companies have been acquired or gone public, including Adyen (IPO), Credit Karma (acq by Intuit), Cruise (acq by General Motors), Fitbit (IPO), Guardant Health (IPO), Meraki (acq by Cisco), Ring (acq by Amazon), and Shopify (IPO). The firm is based in Menlo Park and San Francisco in California. Learn more at felicis.com.
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SOURCE Pharos
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Saudi Geological Survey Releases New Geological Data Packages to Boost Mining Investment and Exploration
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October 25, 2024By
RIYADH, Saudi Arabia, Oct. 25, 2024 /PRNewswire/ — The Saudi Geological Survey (SGS) today announced the release of a new batch of geological data packages, further enriching its National Geological Database (NGD) Portal. This milestone coincides with the SGS’s founding day, underscoring its commitment to driving the mining sector’s growth through reliable and comprehensive geological information.
The newly released data packages cover 30% of the Arabian Shield. These packages include surface geochemical and aerial geophysical survey data collected as part of the General Geological Survey Program. Additionally, the National Core Library (NCL) drilling samples initiative has seen spectral scanning of over 70 kilometers of core samples and the digitization of more than 4000 technical reports related to mineral deposit sites.
The NGD Portal serves as a centralized platform for accessing and utilizing geological data, empowering researchers, industry professionals, and investors to make informed decisions and drive innovation in Saudi Arabia’s mining and mineral sector.
For more information, please visit https://ngd.sgs.gov.sa/en.
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SOURCE Saudi Geological Survey
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