Connect with us

Technology

Global Times: Experience peaceful development and win-win cooperation at Airshow China

Published

on

BEIJING, Nov. 5, 2024 /PRNewswire/ — The fifteenth China International Aviation and Aerospace Exhibition, also known as Airshow China, will be held in Zhuhai, South China’s Guangdong Province, from November 12 to 17. The Chinese Air Force revealed at a press conference on Tuesday that new equipment, including the J-35A medium-sized stealth fighter, the HQ-19 surface-to-air missile weapon system, and a new attack reconnaissance unmanned aerial vehicle will make their debut at the airshow. Although the event has not yet begun, the information disclosed in advance has sparked heated discussions. In particular, the preview of some “pillars of the country” will be unveiled one after another, making military fans at home and abroad full of expectations and every patriot proud.

As one of the world’s top five airshows, Airshow China has become an important platform for showcasing international aviation and aerospace advanced technology and high-end equipment, as well as promoting exchanges and cooperation.

This year’s Airshow China has attracted more than 1,000 exhibitors from 47 countries and regions, including Russia, France and the US. It features many world-renowned aviation enterprises, including Airbus, Honeywell, Embraer and Thales. International aviation and aerospace companies have great confidence in the Chinese market, so they are willing to bring their most advanced and high-end products to China to showcase themselves and facilitate cooperation through this equal and open platform of mutual benefit.

Airshow China has continued to grow in scale and quality, progressing hand in hand with the expansion of China’s high-end manufacturing industry, mutually promoting each other’s advancement. The aviation industry, hailed as the “flower of modern industry,” is a critical marker of a nation’s technological, economic, and defense capabilities as well as its level of industrialization, reflecting its comprehensive ability in high-end manufacturing.

Over several decades, China’s aviation and aerospace equipment has achieved leapfrog development, securing tangible accomplishments. Today, we possess advanced active defense equipment and highly acclaimed aerospace technology. Breakthroughs have been made with civil aircraft, such as the C919, ARJ21 and the AG600 “Kunlong,” while drone technology is leading the world. This showcases China’s steady and balanced progress in independent innovation across “land, sea, air, space, electronics, and cyberspace,” witnessing the journey from a fledgling to an advanced aviation industry, as well as the entire industrial system, and garnering repeated admiration.

Thus, Airshow China has also embodied the sincere patriotic enthusiasm of the Chinese public, rooted in a peace-oriented spirit. From the first Airshow China to its current status as one of the world’s top five air shows over the nearly three decades, China’s contribution to global peace and stability has become increasingly prominent. China’s strong defense capabilities have demonstrated remarkable performance in international rescue operations and anti-piracy efforts. China’s advanced civil aviation and aerospace technology has benefited many people in developing countries through various levels of cooperation. The progress in China’s aviation and aerospace industry not only equips the country to safeguard its sovereignty, security, and development interests but also empowers it to make greater contributions to regional stability and world peace.

In addition to cutting-edge equipment such as the J-35A and HQ-19, this airshow will also feature a newly established demonstration area for drones and unmanned boats. The lunar samples collected from the far side of the moon during the Chang’e 6 mission will also be showcased at this year’s airshow. These elements indicate that China’s technology is already at the forefront of the world in certain fields. As China makes significant progress in high-end manufacturing and enters the world’s top tier in multiple technological domains, cooperation with China represents opportunities and mutual benefits. The Chinese people are diligently and steadily working to do their own things well, bringing shared prosperity to the world.

At the previous Airshow China, the amount of cooperation agreements signed on the first day reached 250 billion yuan, with over 350 aircraft transactions. This year, people are generally more optimistic, as evidenced by the surge in the number of exhibitors, the emergence of high-end equipment, and the rising enthusiasm among the public.

With the implementation of a number of major projects and initiatives, China will adopt a more proactive and open stance toward advancing international cooperation and exchanges in the aviation and aerospace field. Therefore, what people see at Airshow China are not only “pillars of the country,” but also China’s confidence and openness in high-tech fields, as well as a vision of peaceful development and win-win cooperation.

View original content:https://www.prnewswire.com/news-releases/global-times-experience-peaceful-development-and-win-win-cooperation-at-airshow-china-302297229.html

SOURCE Global Times

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Hoymiles Powers Latvia’s Largest Energy Storage Project at Tārgale

Published

on

By

VENTSPILS, Latvia, Nov. 6, 2024 /PRNewswire/ — On November 1, 2024, Tārgale Wind Park held its grand opening, unveiling Latvia’s first major energy storage facility. Hoymiles, as a key technology supplier, played a pivotal role in the project. Managed by Utilitas, Latvia’s largest wind energy producer, this project combines wind energy generation with advanced storage capabilities, setting a new standard for renewable energy infrastructure in the country.

The Tārgale Wind Park, initially launched in 2022 with an annual generation capacity of 155 GWh, has recently integrated a utility-scale energy storage system to enhance grid stability. Hoymiles supplied essential components for this storage system, including 3,450 kW Power Conversion System (PCS) containers on the AC side and 3.44 MWh battery containers on the DC side. This new energy storage system has a capacity of 20 MWh, enabling the park to store surplus energy generated during periods of high wind and supply it back to the grid when needed. The project represents a €7 million investment, underscoring Utilitas Wind’s commitment to advancing sustainable energy solutions in Latvia.

The opening ceremony was attended by key Latvian officials, including Minister for Climate and Energy Mr. Kaspars Melnis. “It is essential to build new green energy capacity to ensure the resilience and smooth operation of our energy systems as we prepare for a key transition early next year. We are clearly moving in the right direction,” he said.

The new energy storage system marks a major advancement for Latvia, which is working to stabilize its energy supply while supporting sustainable development.

 

Hoymiles is proud to contribute to the Tārgale Wind Park energy storage project. Through innovation and technical expertise, Hoymiles continues to support global clean energy initiatives, making sustainable energy accessible to everyone.

About Hoymiles

Founded in 2012, Hoymiles is a clean energy solution provider, specializing in module-level inverters and storage systems. With a vision of a clean, sustainable future, the company strives to drive innovation in the smart energy industry with its high-performance, accessible products. Learn more at Hoymiles’ official website.

About Utilitas

Utilitas Wind SIA is part of the Estonian energy company Utilitas. Utilitas Group is moving towards carbon neutrality by building new renewable energy production capacities, investing in solar and wind energy, and implementing the first green hydrogen pilot project in Estonia. Learn more at https://www.utilitas.ee/en/.

Photo – https://mma.prnewswire.com/media/2549994/Hoymiles_Power_Latvia.jpg
Photo – https://mma.prnewswire.com/media/2549993/Hoymiles_Power_Latvia_Power_Plant_1.jpg
Photo – https://mma.prnewswire.com/media/2549995/Hoymiles_Power_Latvia_Power_Plant.jpg

View original content:https://www.prnewswire.co.uk/news-releases/hoymiles-powers-latvias-largest-energy-storage-project-at-trgale-302297359.html

Continue Reading

Technology

Chunghwa Telecom Reports Un-Audited Consolidated Operating Results for the Third Quarter of 2024

Published

on

By

TAIPEI, Nov. 6, 2024 /PRNewswire/ — Chunghwa Telecom Co., Ltd. (TAIEX: 2412, NYSE: CHT) (“Chunghwa” or “the Company”) today reported its un-audited operating results for the third quarter of 2024. All figures were prepared in accordance with Taiwan-International Financial Reporting Standards (“T-IFRSs”) on a consolidated basis.

(Comparisons throughout the press release, unless otherwise stated, are made with regard to the prior year period.)

Third Quarter 2024 Financial Highlights

Total revenue increased by 3.6% to NT$ 55.61 billion.Consumer Business Group revenue increased by 2.1% to NT$ 34.43 billion.Enterprise Business Group revenue increased by 5.9% to NT$ 17.60 billion.International Business Group revenue increased by 1.4% to NT$ 2.37 billion.Total operating costs and expenses increased by 4.8% to NT$ 44.23 billion.Operating income decreased by 0.8% to NT$ 11.38 billion.EBITDA decreased by 0.5% to NT$ 21.26 billion.Net income attributable to stockholders of the parent decreased by 1% to NT$ 9.01 billion.Basic earnings per share (EPS) was NT$1.16.Operating income, net income attributable to stockholders of the parent, and EPS all exceeded our proposed guidance.

“The Company delivered solid results in this quarter highlighted by exceptional operational performance across all business segments,” stated Mr. Chih-Cheng Chien, Chairman and CEO of Chunghwa Telecom. “We have set a new record for total revenue for the same quarter over the past seven years, reinforcing our leadership in Taiwan’s mobile market with a revenue market share of 40.3% and a subscriber share of 37.8%. Our blended 5G penetration rate continued to expand to 33.5%, maintaining leadership in Taiwan. Additionally, thanks to our expansion on cross-tier upgrade promotion package to include 1Gbps service offerings, our 1 Gbps subscriber net-adds doubled during the quarter.”

“Looking into the details of our three business groups, the Consumer Business Group maintained its healthy growth trajectory, driven by 5G migration and increasing postpaid subscribers, steady fixed broadband revenue, and higher OTT revenue from our exclusive broadcast of the Paris Olympic Games. We achieved double-digit year-over-year growth in video-related revenue, driven by the increasing subscriptions to our video platforms, which have exceeded 3 million,” said Mr. Rong-Shy Lin, President of Chunghwa Telecom. “Our Enterprise Business Group performed as anticipated, driven by a robust 22% year-over-year growth in our ICT business revenue. Notably, revenue from 5G private networks and big data analysis surged significantly, fueled by the 5G O-RAN project and smart government initiatives. Furthermore, we are pleased with the performance of our International Business Group, where income before tax increased by 11% year-over-year, primarily driven by our overseas ICT business. Excitingly, our European subsidiary in Frankfurt commenced operations on July 30, and we are well-prepared to offer ICT solutions to high-tech European markets,” added Mr. Lin.

“In terms of development of advanced networks and technologies, Chunghwa Telecom continues to lead the industry by initiating the world’s first IOWN APN between Taiwan and Japan with NTT Group during the quarter. We are also the exclusive provider of OneWeb low-earth-orbit satellite, with more than 90% coverage in Taiwan by the third quarter,” Mr. Chien continued. “On the ESG front, we have received SBTi’s verification for our Net-Zero greenhouse gas emissions target, making us the first operator in Taiwan to commit to achieving Net-Zero by 2045, ahead of the world roadmap of 2050. Additionally, we have obtained carbon footprint verification for all of our service centers nationwide, distinguishing us as the only telecom company in Taiwan to achieve this milestone. We remain dedicated to leading the way in ESG best practices.”

“Our solid performance across various sectors underscores our commitment to providing high-quality, advanced, and convenient telecom services. We remain confident that our new management team will continue to drive our progress and create value for our stakeholders,” Mr. Chien added.

Revenue

Chunghwa Telecom’s total revenues for the third quarter of 2024 increased by 3.6% to NT$ 55.61 billion.

Consumer Business Group’s revenue for the third quarter of 2024 increased by 2.1% YoY to NT$ 34.43 billion. Mobile service revenue increased 3% YoY, mainly due to 5G migration and increasing postpaid subscribers, the steady growth of fixed broadband revenue, and the increase of OTT revenue generated from our exclusive broadcast of the Paris Olympic Games. Sales revenue increased 1.3% YoY mainly due to the launch of iPhone 16 series. CBG’s income before tax decreased 0.6% YoY, mainly due to the one-time broadcasting rights fee of the Paris Olympic Games.

Enterprise Business Group’s revenue for the third quarter of 2024 increased 5.9% YoY to NT$ 17.60 billion, mainly driven by our robust growth in ICT business, which saw a 22% year-over-year increase in revenue, fueled by the strong performance of our emerging services. The decline in mobile and fixed voice services offset the growth of 5G migration and speed upgrades, resulting in a slight year-over-year decrease in EBG’s mobile and fixed-line revenues in the third quarter, while income before tax also experienced a year-over-year decrease.

International Business Group’s revenue for the third quarter of 2024 increased by 1.4% to NT$ 2.37 billion, while its income before tax increased 11% YoY. The positive growth was mainly due to the vibrant demand for ICT business in the international market.

Operating Costs and Expenses

Total operating costs and expenses for the third quarter of 2024 increased by 4.8% to NT$ 44.23 billion, mainly due to higher manpower cost and the one-time broadcasting rights fee of the Paris Olympic Games.

Operating Income and Net Income

Operating income for the third quarter of 2024 decreased by 0.8% to NT$ 11.38 billion. The operating margin was 20.5%, as compared to 21.4% in the same period of 2023. Net income attributable to stockholders of the parent decreased by 1% to NT$ 9.01 billion. Basic earnings per share was NT$1.16.

Cash Flow and EBITDA

Cash flow from operating activities, as of September 30th, 2024, decreased by 0.3% year over year to NT$ 49.76 billion, mainly due to a rise in settlement of tax payments, which were deferred to Q4 last year.

Cash and cash equivalents, as of September 30th, 2024, decreased by 2.5% to NT$ 31.22 billion as compared to that as of September 30th, 2023.

EBITDA for the third quarter of 2024 was NT$ 21.26 billion, decreasing by 0.5% year over year. EBITDA margin was 38.23%, as compared to 39.84% in the same period of 2023.

Business Highlights

Mobile

As of September 30th, 2024, Chunghwa Telecom had 13.01 million mobile subscribers, representing a 0.6% year-over-year increase. In the third quarter, total mobile service revenue increased by 2% to NT$ 16.75 billion, while mobile post-paid ARPU excluding IoT SIMs maintained stable and flat year over year at NT$ 552.

Fixed Broadband/HiNet

As of September 30th, 2024, the number of broadband subscribers slightly increased by 0.7% to 4.42 million. The number of HiNet broadband subscribers increased by 1.3% to 3.73 million. In the third quarter, total fixed broadband revenue grew 3.4% year over year to NT$ 11.32 billion, while ARPU increased 1.5% to NT$ 786.

Fixed line

As of September 30th, 2024, the number of fixed-line subscribers was 8.95 million.

Financial Statements

Financial statements and additional operational data can be found on the Company’s website at http://www.cht.com.tw/en/home/cht/investors/financials/quarterly-earnings

NOTE CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in 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,” “estimates” and similar statements. Statements that are not historical facts, including statements about Chunghwa’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Investors are cautioned that actual events and results could differ materially from those statements as a result of a number of factors including, but not limited to the risks outlined in Chunghwa’s filings with the U.S. Securities and Exchange Commission on Forms F-1, F-3, 6-K and 20-F, in each case as amended. The forward-looking statements in this press release reflect the current belief of Chunghwa as of the date of this press release and Chunghwa undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such date, except as required under applicable law.

This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements.

NON-GAAP FINANCIAL MEASURES

To supplement the Company’s consolidated financial statements presented in accordance with International Financial Reporting Standards pursuant to the requirements of the Financial Supervisory Commission, or T-IFRSs, Chunghwa Telecom also provides EBITDA, which is a “non-GAAP financial measure”.  EBITDA is defined as consolidated net income (loss) excluding (i) depreciation and amortization, (ii) total net comprehensive financing cost (which is comprised of net interest expense, exchange gain or loss, monetary position gain or loss and other financing costs and derivative transactions), (iii) other income, net, (iv) income tax, (v) (income) loss from discontinued operations.

In managing the Company’s business, Chunghwa Telecom relies on EBITDA as a means of assessing its operating performance because it excludes the effect of (i) depreciation and amortization, which represents a non-cash charge to earnings, (ii) certain financing costs, which are significantly affected by external factors, including interest rates, foreign currency exchange rates and inflation rates, which have little or no bearing on our operating performance, (iii) income tax (iv) other expenses or income not related to the operation of the business. 

CAUTIONS ON USE OF NON-GAAP FINANCIAL MEASURES

In addition to the consolidated financial results prepared under T-IFRSs, Chunghwa Telecom also provide non-GAAP financial measures, including “EBITDA”. The Company believes that the non-GAAP financial measures provide investors with another method for assessing its operating results in a manner that is focused on the performance of its ongoing operations.

Chunghwa Telecom’s management believes investors will benefit from greater transparency in referring to these non-GAAP financial measures when assessing the Company’s operating results, as well as when forecasting and analyzing future periods. However, the Company recognizes that:

these non-GAAP financial measures are limited in their usefulness and should be considered only as a supplement to the Company’s T-IFRSs financial measures;these non-GAAP financial measures should not be considered in isolation from, or as a substitute for, the Company’s T-IFRSs financial measures;these non-GAAP financial measures should not be considered to be superior to the Company’s T-IFRSs financial measures; andthese non-GAAP financial measures were not prepared in accordance with T-IFRSs and investors should not assume that the non-GAAP financial measures presented in this earnings release were prepared under a comprehensive set of rules or principle.

Further, these non-GAAP financial measures may be unique to Chunghwa Telecom, as they may be different from non-GAAP financial measures used by other companies. As such, this presentation of non-GAAP financial measures may not enhance the comparability of the Company’s results to the results of other companies. Readers are cautioned not to view non-GAAP results as a substitute for results under T-IFRSs, or as being comparable to results reported or forecasted by other companies.

About Chunghwa Telecom

Chunghwa Telecom (TAIEX 2412, NYSE: CHT) (“Chunghwa” or “the Company”) is Taiwan’s largest integrated telecommunications services company that provides fixed-line, mobile, broadband, and internet services. The Company also provides information and communication technology services to corporate customers with its big data, information security, cloud computing and IDC capabilities, and is expanding its business into innovative technology services such as IoT, AI, etc. Chunghwa has been actively and continuously implemented environmental, social and governance (ESG) initiatives with the goal to achieve sustainability and has won numerous international and domestic awards and recognitions for its ESG commitments and best practices. For more information, please visit our website at www.cht.com.tw

Contact: Angela Tsai

Phone: +886 2 2344 5488

Email: chtir@cht.com.tw

View original content:https://www.prnewswire.com/news-releases/chunghwa-telecom-reports-un-audited-consolidated-operating-results-for-the-third-quarter-of-2024-302297363.html

SOURCE Chunghwa Telecom

Continue Reading

Technology

ATFX Wins Two Awards at the 2024 International Investor Awards

Published

on

By

HONG KONG, Nov. 6, 2024 /PRNewswire/ — ATFX is proud to announce its achievement of two esteemed awards at the 2024 International Investor Awards, reinforcing its position as a leader in the global forex trading sector. The company was awarded “Best Global Forex Broker 2024”, a testament to its unwavering commitment to excellence, customer satisfaction, and innovative trading solutions. Additionally, Joe Li, the Founder and Chairman of ATFX, received the accolade for “Best Global Forex Chairman 2024”, highlighting his outstanding leadership and vision in driving the company’s remarkable growth and international expansion.

Joe Li’s leadership has been instrumental in ATFX’s journey. As the Chairman of ATFX, he combines technical expertise with a keen understanding of market dynamics. Under his guidance, ATFX has not only expanded its global reach but has also developed ATFX Connect, which caters to the needs of institutional clients. Joe’s strategic vision emphasizes the importance of aligning with diverse cultures and establishing partnerships that drive sustainable growth.

As a fintech broker with a strong global footprint, ATFX operates in 23 locations and is licensed by renowned regulatory authorities, including the UK’s FCA, Cypriot CySEC, UAE’s SCA, Australian ASIC, and South African FSCA. This robust regulatory framework ensures that ATFX adheres to the highest standards of compliance and security, providing clients with a safe and reliable trading environment.

The recognition from the International Investor Awards highlights ATFX’s commitment to setting industry standards and its relentless pursuit of excellence. As the company continues to innovate and expand, it remains focused on delivering exceptional trading experiences that empower clients worldwide. ATFX is well-positioned to navigate the evolving landscape of forex trading and maintain its status as a trusted global broker.

For more information about ATFX, please visit https://www.atfx.com

View original content:https://www.prnewswire.com/apac/news-releases/atfx-wins-two-awards-at-the-2024-international-investor-awards-302297290.html

SOURCE ATFX

Continue Reading

Trending