Technology
TENCENT ANNOUNCES 2024 THIRD QUARTER RESULTS
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2 weeks agoon
By
HONG KONG, Nov. 13, 2024 /PRNewswire/ — Tencent Holdings Limited (HKEX: 00700 (HKD Counter) and 80700 (RMB Counter), “Tencent” or the “Company”), a world-leading Internet and technology company in China, today announced the unaudited consolidated results for the third quarter (“3Q2024”) ended Sep 30, 2024.
Mr. Ma Huateng, Chairman and CEO of Tencent, said, “During the third quarter of 2024, we delivered robust revenue growth in our games business, underpinned by consistent performance of evergreen games globally and contributions from new games with evergreen potential. We upgraded our eCommerce strategy around Mini Shops, to create a unified and trustworthy transaction experience spanning the entire Weixin ecosystem. We are increasingly seeing tangible benefits of deploying AI across our products and operations including marketing services and cloud, and will continue investing in AI technology, tools and solutions that assist users and partners.”
3Q2024 Financial Highlights
Revenues: +8% YoY; gross profit: +16% YoY; non-IFRS[1] operating profit*: +19% YoY
Total revenues were RMB167.2 billion (USD23.9 billion[2]), up 8% over the third quarter of 2023 (“YoY”).Gross profit was RMB88.8 billion (USD12.7 billion), up 16% YoY.On a non-IFRS basis, which is intended to reflect core earnings by excluding certain one-time and/or non-cash items:Operating profit* was RMB61.3 billion (USD8.7 billion), up 19% YoY. Operating margin* increased to 37% from 33% last year.Profit for the period was RMB60.9 billion (USD8.7 billion), up 33% YoY.Profit attributable to equity holders of the Company for the quarter was RMB59.8 billion (USD8.5 billion), up 33% YoY.Basic earnings per share were RMB6.475. Diluted earnings per share were RMB6.340.On an IFRS basis:Operating profit* was RMB53.3 billion (USD7.6 billion), up 20% YoY. Operating margin* increased to 32% from 29% last year.Profit for the period was RMB54.0 billion (USD7.7 billion), up 47% YoY.Profit attributable to equity holders of the Company for the quarter was RMB53.2 billion (USD7.6 billion), up 47% YoY.Basic earnings per share were RMB5.762. Diluted earnings per share were RMB5.644.Total cash was RMB425.5 billion (USD60.7 billion) and free cash flow was RMB58.5 billion (USD8.3 billion), +14% YoY. Net cash position totalled RMB95.5 billion (USD13.6 billion).Fair value of our shareholdings[3] in listed investee companies (excluding subsidiaries) totalled RMB612.5 billion (USD87.4 billion) and the carrying book value of our shareholdings in unlisted investee companies (excluding subsidiaries) was RMB327.7 billion (USD46.8 billion).During the third quarter of 2024, the Company repurchased approximately 94.9 million shares on the Hong Kong Stock Exchange for a consideration of approximately HKD35.9 billion.
[1] Non-IFRS adjustments excludes share-based compensation, M&A related impact such as net (gains)/losses from investee companies, amortisation of intangible assets, impairment provisions/(reversals), SSV & CPP, income tax effects and others
[2] Figures stated in USD are based on USD1 to RMB7.0074
[3] Including those held via special purpose vehicles, on an attributable basis
* Since the fourth quarter of 2023, certain items have been reclassified from above to below the operating profit line. Historical comparative figures have been restated accordingly. Please refer to the earnings announcement for details.
3Q24 Business Review and Outlook
Mini Programs’ GMV grew at a high teens year-on-year rate to over RMB 2 trillion in the third quarter of 2024, benefitting from better coverage and solutions for use cases such as food ordering, electric vehicle charging and medical services.We provided merchants with more traffic and transaction support through Mini Shops, a platform where merchants operate storefronts with indexed and standardised merchandise. Leveraging Weixin’s social interactions, content platforms and payment capabilities, Mini Shops help merchants to effectively reach customers and drive sales conversions.Utilising large language model capabilities, Weixin Search facilitated its understanding of complex queries and content, enhancing the relevance of search results. Weixin Search grew commercial queries and click-through rates year-on-year.The QQ team has comprehensively upgraded the platform’s back end infrastructure, and added and popularised new functionalities such as Tencent Channels, resulting in QQ mobile device MAU returning to year-on-year growth in the third quarter of 2024.Music subscriptions increased 16% year-on-year to 119 million[4], benefitting from enhanced recommendation algorithms, enriched content offerings and upgraded audio quality.Long-form video subscriptions increased 6% year-on-year to 116 million[5], benefitting from popular animated series and drama series.Our flagship evergreen games in domestic markets, Honour of Kings and Peacekeeper Elite, delivered healthy year-on-year growth in gross receipts. Other evergreen games, Naruto Mobile and VALORANT, reached new highs in quarterly average DAU. We released Delta Force, our first multi-platform first person shooter, which achieved high average user daily time spent and retention rates, demonstrating evergreen potential.In international markets, VALORANT expanded from PC to PlayStation and Xbox with the launch of its console version in five key international markets, contributing to the game growing gross receipts by over 30% year-on-year during the third quarter of 2024.We released Tencent Hunyuan Turbo, an upgraded foundation model utilising a heterogeneous Mixture-of-Experts (MoE) architecture, which doubled training and inference efficiency, and halved inference cost, versus its predecessor Tencent Hunyuan Pro.
[4] The average number of subscriptions as of the last day of each month during the third quarter of 2024
[5] The average daily number of subscriptions for the third quarter of 2024; year-on-year growth rate was calculated based on restated comparative figure
Operating Metrics
As at
30 September
2024
As at
30 September
2023
Year-
on-year
change
As at
30 June
2024
Quarter-on-
quarter
change
(in millions, unless specified)
Combined MAU of Weixin
and WeChat
1,382
1,336
3 %
1,371
0.8 %
Mobile device MAU of QQ
562
558
0.7 %
571
-2 %
Fee-based VAS registered
subscriptions#
265
243
9 %
263
0.8 %
# Adjusted to report the average daily number of subscriptions during the quarter, since the first quarter of 2024
3Q24 Management Discussion and Analysis
Revenues from VAS increased by 9% year-on-year to RMB82.7 billion for the third quarter of 2024. International Games revenues were RMB14.5 billion, up 9% year-on-year (or up 11% on a constant currency basis), due to robust performances from games including PUBG MOBILE and Brawl Stars. Revenue growth for International Games substantially lagged gross receipts growth, as improved retention rates for certain titles led to us elongating revenue deferral periods. Domestic Games revenues increased by 14% year-on-year to RMB37.3 billion, driven by games including VALORANT, Honour of Kings, Peacekeeper Elite and DnF Mobile. Social Networks revenues rose by 4% year-on-year to RMB30.9 billion, supported by growth in app-based game virtual item sales, music subscription revenues and Mini Games platform service fees, partially offset by a decline in music-related and games-related live streaming revenues.
Revenues from Marketing Services[6] were RMB30.0 billion for the third quarter of 2024, up 17% year-on-year, driven by robust advertiser demand for Video Accounts, Mini Programs and Weixin Search inventories and, to a lesser extent, contributions from Paris Olympics-related brand advertising. Advertising spending from the games and eCommerce categories increased year-on-year, which outweighed reduced spending from the real estate and food & beverage categories.
Revenues from FinTech and Business Services rose by 2% year-on-year to RMB53.1 billion for the third quarter of 2024. FinTech Services revenues in aggregate remained largely stable compared to the same quarter last year, within which wealth management services revenues increased year-on-year due to more users and higher aggregated customer assets while payment services revenues declined due to subdued consumption spending. Business Services revenues were up year-on-year, driven by growth in cloud services revenues and eCommerce technology service fees.
For other detailed disclosure, please refer to our website https://www.tencent.com/en-us/investors.htmlhttp://www.tencent.com/ir, or follow us via Weixin Official Account (Weixin ID: Tencent_IR).
[6] Starting this quarter, we have renamed this revenue segment from ‘Online Advertising’ to ‘Marketing Services’ to better represent the breadth of our marketing solutions and accompanying technology services across our online marketing properties
About Tencent
Tencent uses technology to enrich the lives of Internet users.
Our communication and social services, Weixin and QQ, connect users with each other and with digital content and services, both online and offline, making their lives more convenient. Our targeted advertising service helps advertisers reach out to hundreds of millions of consumers in China. Our FinTech and business services support partners’ business growth and assist their digital upgrade.
Tencent invests heavily in talent and technological innovation, actively promoting the development of the Internet industry. Tencent was founded in Shenzhen, China, in 1998. Tencent has been listed on the Main Board of the Stock Exchange of Hong Kong since 2004.
Investor contact: IR@tencent.com
Media contact: GC@tencent.com
Non-IFRS Financial Measures
To supplement the consolidated results of the Group (“the Company and its subsidiaries”) prepared in accordance with IFRS, certain additional non-IFRS financial measures (in terms of operating profit, operating margin, profit for the period, profit attributable to equity holders of the Company, basic EPS and diluted EPS) have been presented in this press release. These unaudited non-IFRS financial measures should be considered in addition to, not as a substitute for, measures of the Group’s financial performance prepared in accordance with IFRS. In addition, these non-IFRS financial measures may be defined differently from similar terms used by other companies.
The Company’s management believes that the non-IFRS financial measures provide investors with useful supplementary information to assess the performance of the Group’s core operations by excluding certain non-cash items and certain impact of investment-related transactions. In addition, non-IFRS adjustments include relevant non-IFRS adjustments for the Group’s major associates based on available published financials of the relevant major associates, or estimates made by the Company’s management based on available information, certain expectations, assumptions and premises.
Forward-Looking Statements
This press release contains forward-looking statements relating to the business outlook, estimates of financial performance, forecast business plans and growth strategies of the Group. These forward-looking statements are based on information currently available to the Group and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, some of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect and may not be realised in the future. Underlying these forward-looking statements are a lot of risks and uncertainties. In light of the risks and uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as representations by the Board or the Company that the plans and objectives will be achieved, and investors should not place undue reliance on such statements.
CONDENSED CONSOLIDATED INCOME STATEMENT
RMB in millions, unless specified
Unaudited
Unaudited
3Q2024
3Q2023
Restated*
3Q2024
2Q2024
Revenues
167,193
154,625
167,193
161,117
VAS
82,695
75,748
82,695
78,822
Marketing Services
29,993
25,721
29,993
29,871
FinTech and Business Services
53,089
52,048
53,089
50,440
Others
1,416
1,108
1,416
1,984
Cost of revenues
(78,365)
(78,102)
(78,365)
(75,222)
Gross profit
88,828
76,523
88,828
85,895
Gross margin
53 %
49 %
53 %
53 %
Selling and marketing expenses
(9,411)
(7,912)
(9,411)
(9,156)
General and administrative expenses
(29,058)
(26,289)
(29,058)
(27,491)
Other gains/(losses), net
2,974
2,026*
2,974
1,484
Operating profit
53,333
44,348*
53,333
50,732
Operating margin
32 %
29 %*
32 %
31 %
Net gains/(losses) from investments
and others
3,066
618*
3,066
(654)
Interest income
3,996
3,509*
3,996
3,850
Finance costs
(3,531)
(2,784)
(3,531)
(3,112)
Share of profit/(loss) of associates and
joint ventures, net
6,019
2,098
6,019
7,718
Profit before income tax
62,883
47,789
62,883
58,534
Income tax expense
(8,900)
(11,008)
(8,900)
(10,168)
Profit for the period
53,983
36,781
53,983
48,366
Attributable to:
Equity holders of the Company
53,230
36,182
53,230
47,630
Non-controlling interests
753
599
753
736
Non-IFRS operating profit
61,274
51,668*
61,274
58,443
Non-IFRS profit attributable to equity
holders of the Company
59,813
44,921
59,813
57,313
Earnings per share for profit
attributable to equity holders of
the Company
(in RMB per share)
– basic
5.762
3.828
5.762
5.112
– diluted
5.644
3.752
5.644
4.994
* Since the fourth quarter of 2023, certain items have been reclassified from above to below the operating profit line. Historical comparative figures have been restated accordingly. Please refer to the earnings announcement for details.
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
RMB in millions, unless specified
Unaudited
3Q2024
3Q2023
Profit for the period
53,983
36,781
Other comprehensive income, net of tax:
Items that may be subsequently reclassified to profit or loss
Share of other comprehensive income of associates and joint ventures
155
278
Transfer to profit or loss upon disposal of financial assets at fair value through
other comprehensive income
–
1
Net gains/(losses) from changes in fair value of financial assets at fair value
through other comprehensive income
20
(3)
Currency translation differences
(2,909)
(7,303)
Net movement in reserves for hedges
(880)
(897)
Items that will not be subsequently reclassified to profit or loss
Share of other comprehensive income of associates and joint ventures
52
564
Net gains/(losses) from changes in fair value of financial assets at fair value
through other comprehensive income
33,578
(25,417)
Currency translation differences
(153)
(720)
Net movement in reserves for hedges
19
–
29,882
(33,497)
Total comprehensive income for the period
83,865
3,284
Attributable to:
Equity holders of the Company
82,179
3,526
Non-controlling interests
1,686
(242)
OTHER FINANCIAL INFORMATION
RMB in millions, unless specified
Unaudited
3Q2024
2Q2024
3Q2023
EBITDA (a)
64,397
62,902
55,824
Adjusted EBITDA (a)
69,656
68,518
61,301
Adjusted EBITDA margin (b)
42 %
43 %
40 %
Interest and related expenses
3,145
2,918
3,061
Net cash/(debt) (c)
95,462
71,757
36,431
Capital expenditures (d)
17,094
8,729
8,005
Note:
(a) EBITDA is calculated as operating profit minus other gains/(losses), net, and adding back depreciation of property, plant and equipment, investment properties as well as right-of-use assets, and amortisation of intangible assets and land use rights. Adjusted EBITDA is calculated as EBITDA plus equity-settled share-based compensation expenses.
(b) Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by revenues.
(c) Net cash/(debt) represents period end balance and is calculated as cash and cash equivalents, plus term deposits and others, minus borrowings and notes payable.
(d) Capital expenditures consist of additions (excluding business combinations) to property, plant and equipment, construction in progress, investment properties, land use rights and intangible assets (excluding long-form video and music content, game licences and other content).
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
RMB in millions, unless specified
Unaudited
Audited
As at
September 30, 2024
As at
December 31, 2023
ASSETS
Non-current assets
Property, plant and equipment
69,583
53,232
Land use rights
23,310
17,179
Right-of-use assets
17,793
20,464
Construction in progress
12,801
13,583
Investment properties
738
570
Intangible assets
178,773
177,727
Investments in associates
266,057
253,696
Investments in joint ventures
7,113
7,969
Financial assets at fair value through profit or loss
209,200
211,145
Financial assets at fair value through other
comprehensive income
283,632
213,951
Prepayments, deposits and other assets
27,995
28,439
Other financial assets
848
2,527
Deferred income tax assets
31,214
29,017
Term deposits
70,134
29,301
1,199,191
1,058,800
Current assets
Inventories
9,823
456
Accounts receivable
47,336
46,606
Prepayments, deposits and other assets
103,135
88,411
Other financial assets
4,950
5,949
Financial assets at fair value through profit or loss
9,773
14,903
Financial assets at fair value through other
comprehensive income
2,132
–
Term deposits
197,995
185,983
Restricted cash
3,554
3,818
Cash and cash equivalents
145,468
172,320
524,166
518,446
Total assets
1,723,357
1,577,246
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (continued)
RMB in millions, unless specified
Unaudited
Audited
As at
September 30, 2024
As at
December 31, 2023
EQUITY
Equity attributable to equity holders of the Company
Share capital
–
–
Share premium
37,201
37,989
Treasury shares
(2,571)
(4,740)
Shares held for share award schemes
(4,976)
(5,350)
Other reserves
21,113
(33,219)
Retained earnings
861,819
813,911
912,586
808,591
Non-controlling interests
67,921
65,090
Total equity
980,507
873,681
LIABILITIES
Non-current liabilities
Borrowings
151,600
155,819
Notes payable
127,285
137,101
Long-term payables
12,227
12,169
Other financial liabilities
7,904
8,781
Deferred income tax liabilities
15,561
17,635
Lease liabilities
14,023
16,468
Deferred revenue
6,473
3,435
335,073
351,408
Current liabilities
Accounts payable
142,665
100,948
Other payables and accruals
73,036
76,595
Borrowings
42,767
41,537
Notes payable
8,403
14,161
Current income tax liabilities
19,044
17,664
Other tax liabilities
4,873
4,372
Other financial liabilities
4,823
4,558
Lease liabilities
5,583
6,154
Deferred revenue
106,583
86,168
407,777
352,157
Total liabilities
742,850
703,565
Total equity and liabilities
1,723,357
1,577,246
RECONCILIATIONS OF THE GROUP’S NON-IFRS FINANCIAL MEASURES TO THE NEAREST MEASURES PREPARED IN ACCORDANCE WITH IFRS
As
reported
Adjustments
Non-IFRS
RMB in millions,
unless specified
Share-based
compensation
(a)
Net
(gains)/losses
from investee
companies (b)
Amortisation of
intangible assets (c)
Impairment
provisions/
(reversals) (d)
SSV & CPP
(e)
Others
(f)
Income
tax effects
(g)
Unaudited three months ended 30 September 2024
Operating profit
53,333
6,377
–
1,324
–
240
–
–
61,274
Share of profit/(loss) of associates
and joint ventures, net
6,019
985
60
1,433
12
–
–
–
8,509
Profit for the period
53,983
7,362
(6,610)
2,757
3,788
304
–
(653)
60,931
Profit attributable to
equity holders
53,230
7,180
(6,664)
2,591
3,766
304
–
(594)
59,813
Operating margin
32 %
37 %
Unaudited three months ended 30 June 2024
Operating profit
50,732
6,213
–
1,305
–
190
3
–
58,443
Share of profit/(loss) of associates and
joint ventures, net
7,718
926
(91)
1,313
20
–
–
–
9,886
Profit for the period
48,366
7,139
(3,672)
2,618
3,526
1,025
3
(561)
58,444
Profit attributable to
equity holders
47,630
6,981
(3,726)
2,418
3,492
1,025
3
(510)
57,313
Operating margin
31 %
36 %
Unaudited three months ended 30 September 2023
Operating profit (Restated) *
44,348
5,655
–
1,434
–
231
–
–
51,668
Share of profit/(loss) of associates and
joint ventures, net
2,098
1,293
138
1,232
25
–
–
–
4,786
Profit for the period
36,781
6,948
(565)
2,666
346
301
–
(640)
45,837
Profit attributable to
equity holders
36,182
6,833
(583)
2,458
309
301
–
(579)
44,921
Operating margin (Restated) *
29 %
33 %
Note:
(a) Including put options granted to employees of investee companies on their shares and shares to be issued under investee companies’ share-based incentive plans which can be acquired by the Group, and other incentives
(b) Including net (gains)/losses on deemed disposals/disposals of investee companies, fair value changes arising from investee companies, and other expenses in relation to equity transactions of investee companies
(c) Amortisation of intangible assets resulting from acquisitions
(d) Mainly including impairment provisions/(reversals) for associates, joint ventures, goodwill and other intangible assets arising from acquisitions
(e) Mainly including donations and expenses incurred for the Group’s Sustainable Social Value and Common Prosperity Programme (“SSV & CPP”) initiatives
(f) Primarily non-recurring compliance-related costs and expenses incurred for certain litigation settlements of the Group and/or arising from investee companies
(g) Income tax effects of non-IFRS adjustments
* Since the fourth quarter of 2023, certain items have been reclassified from above to below the operating profit line. Historical comparative figures have been restated accordingly. Please refer to the earnings announcement for details.
View original content:https://www.prnewswire.com/apac/news-releases/tencent-announces-2024-third-quarter-results-302303956.html
SOURCE Tencent
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View original content:https://www.prnewswire.com/news-releases/global-times-the-engines-behind-chinas-cultural-troika-online-dramas-games-and-novels-302316199.html
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Flagship Products and New Launches
Among Creality’s star attractions was the K2 Plus Combo, a major addition to the K1 Series. Offering a 350mm³ build volume, the K2 Plus enhances Creality’s flagship lineup with features like automatic filament identification, multi-filament support, and seamless loading/unloading. Powered by Creality OS and Edge AI, the K2 Plus provides exceptional print quality, active chamber heating, and smart monitoring.
The Ender-5 Max made its debut at the fair, designed for professional use with a 400mm³ build volume, auto bed leveling, and a robust all-metal frame. It is ideal for high-speed operations, reaching up to 700mm/s, and optimized for print farms with multi-printer management.
The Ender-3 V3 Plus also stole the spotlight, featuring a 300x300x330mm build area, advanced CoreXZ structure, and a next-gen extrusion system for faster, high-quality prints. Its automatic bed leveling and user-friendly touchscreen make it suitable for users of all levels. The Ender-3 V3, a compact version, also impressed with dual motors and a powerful cooling system, achieving speeds up to 600mm/s without compromising on quality. Both models will soon support Co Print for multi-filament printing.
Creality also showcased the Halot-Mage S, a top-tier resin printer with a 10.1″ 14K mono LCD and impressive print speeds of up to 150mm/h. Its uniform integral light source ensures sharp, precise prints, while Smart HALOT OS offers remote printing capabilities.
Ecosystem Upgrades
The Falcon A1, a compact, easy-to-use 3D printer, delivers speeds up to 600mm/s with auto material recognition and no assembly required, making it ideal for home use. Creality also highlighted the Creality RaptorX, a professional-grade 3D scanner with high precision (0.02mm) and modular design, perfect for large objects (5-4000mm).
Creality introduced several new filaments and resins, including Rainbow PLA for vibrant multi-color prints, Hyper PETG for outdoor models requiring high impact and chemical resistance, and PPA-CF, a high-temperature nylon filament reinforced with carbon fibers for industrial applications. New resins like Halot Rigid Resin and Plant-Based Resin expand Creality’s material ecosystem, offering higher performance, eco-friendliness, and ease of use.
Industrial Solutions by PioCreat
Creality’s industrial arm, PioCreat, showcased its advanced solutions for large-scale and dental applications. The DJ89 PLUS resin printer, with an 8K LCD and integral light source, delivers high precision and automatic feeding. The G12 FGF Pellet 3D Printer features a massive build volume of 1200×1000×1000mm, perfect for molds and prototypes, while the G5Ultra, designed for educational and research purposes, uses cost-effective thermoplastic pellets.
Engaging Attendees and Partners
Creality also launched a “Life is Colorful, Just Like You” social media campaign, offering attendees the chance to interact with products and receive 3D-printed souvenirs. The company’s models were also featured at partner booths, including Sunlu, Kexcelled, Keli, BASF, and eSUN. Creality further engaged the global audience through live-streaming and interviews with leading media outlets such as All3DP and 3Dnatives.
Commitment to the Global Market
Mr. TANG Jingke, Co-founder of Creality, reaffirmed the company’s commitment to the European market, emphasizing its growing presence and partnerships within the region. “Our participation at Formnext highlights our dedication to advancing 3D printing technology and deepening our engagement with Europe’s manufacturing and tech sectors. We look forward to fostering global collaborations and driving the future of 3D printing,” he stated.
For more information on Creality’s innovations and products, visit their official website.
CONTACT: brand@creality.com
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Technology
MARINTEC INNOVATION CONFERENCE 2024: Charging the Future with Alternative Energy Sources
Published
20 minutes agoon
November 26, 2024By
HONG KONG, Nov. 26, 2024 /PRNewswire/ — Gear up for Marintec Innovation Conference 2024, the definitive maritime technology and innovation event organised by Informa Markets and SSNAME, happening on 12 – 13 December at the Shanghai Renaissance Zhongshan Park Hotel. This year’s theme, “Alternative Energy and Fuels Contribute to Low Carbon Maritime,” underscores the industry’s dedication to sustainable practices and groundbreaking advancements.
Distinguished Speakers and Industry Experts
Prepare to be inspired by an impressive lineup of speakers from some of the most influential organisations in the maritime industry. These panels will delve into critical topics such as:
“Alternative Energy and Fuels Review and Outlook”: Exploring the latest developments in renewable energy sources and their integration into maritime operations.”Sailing Efficiency – Shipowner’s Perspective”: Offering practical strategies for improving operational efficiency from leading shipowners.”Industry Chain Support”: Highlighting the collaborative efforts across the maritime value chain to support these innovations.
Notable speakers include:
ABB Marine & Ports, Switzerland: Mr. Meng Desheng, Sales DirectorAlfa Laval (Shanghai) Technologies Co Ltd, Denmark: Mr. James Le, President of Marine DivisionChina Association of the National Shipbuilding Industry, China: Mr. Li Yanqing, Secretary GeneralChina Merchants Energy Shipping, China: Mr. Wu Jianyi, Technical DirectorCSSC Shanghai Marine Energy Saving Technology Co Ltd, China: Mr. Zhang Xiaosong, Deputy Chief of R&D DepartmentCSSC Silent Electric System (Wuxi) Technology Co Ltd, China: Mr. Guo Wei, Deputy General ManagerDNV, Norway: Mr. Jason Liu Xiaofeng, Head of Smart Centre / Deputy Head of Technical Centre ChinaHeadway Technology Group (Qingdao) Co Ltd, China: Mr. Zhang Zongkai, Project Manager of the R&D CenterInmarsat Maritime, United Kingdom: Mr. William Ku, Regional Director, Asia PacificInternational Chamber of Shipping – ICS, United Kingdom: Mr. Guy Platten, Secretary GeneralInternational Windship Association – IWSA, United Kingdom: Mr. Gavin Allwright, Secretary GeneralJotun, Norway: Mr. Christer Lorentz Øpstad (Ph.D.), Global R&D Director – Fouling ProtectionKongsberg Maritime, Norway: Mr. Carl Magne Rustand, Country Manager – Greater ChinaMaersk, Denmark: Mr. Karim Fahssis, Maersk Decarbonisation China HeadRINA Italy Classification Society (China) Co Ltd, China: Mr. Fang Peng, Head of RINA Greater China Excellence CentreTrelleborg Marine Engineering (Qingdao) Co Ltd, China: Mr. Andrew Stafford, Technical DirectorUlstein, Norway: Mr. Kirk Du, Deputy Managing DirectorWikborg Rein Advokatfirma AS: Mr. Bård Bjerken, Managing Associate and Shanghai Representative
These panel discussions will provide attendees with invaluable insights and practical knowledge from leading experts, fostering a deeper understanding of the challenges and opportunities in the maritime sector.
Innovation on Display
In complement to the compelling sessions and expert speakers, the event will feature sponsors such as Bestway, Bicentric Technology, Shanghai Moury Marine Equipment, Shanghai SIBO Automation, Shanghai Tonghe Marine Equipment, Sonyo Appliances Refrigeration System, Zhenjiang Tongzhou Propeller and others showcasing their cutting-edge innovations.
A Hub for Maritime Innovation
Over and above the conference sessions, the Marintec Innovation Conference 2024 will offer numerous networking opportunities, including dedicated networking sessions and an exclusive closing dinner. These events will enable attendees to build valuable connections, exchange ideas, and forge partnerships that will drive the future of maritime technology.
Registration and Additional Information
Registration for the Marintec Innovation Conference 2024 is now open. For more information about the conference program and speakers, please visit the official conference website at www.marintecchina.com.
Call to Action
It is time to invest in and adopt alternative energy. By working together, we can meet the challenges and lead the industry into a sustainable, zero-carbon future. This conference is a movement towards a greener world for generations to come.
Marintec Innovation Conference Background:
Following its inaugural edition in 2017 during Marintec China, the Marintec Innovation Conference will be held in December of even-numbered years at the Shanghai Renaissance Zhongshan Park Hotel. Organised by Informa Markets and SSNAME, Marintec Innovation continues to provide a unique platform for fostering interactions on diverse findings and advancements in the maritime industry through collaboration and knowledge sharing.
Marintec Innovation’s Themes
2017: Cruise Shipbuilding at Marintec China
2018: International Marine Intelligent Energy Efficiency Technology
2020: The Fourth Industrial Revolution at Sea
2022: Defining the Path to Decarbonisation
2024: Alternative Energy and Fuels Contribute To Low-carbon Maritime
Organisers of Marintec China:
Marintec China is organised and managed by Informa Markets and Shanghai Society of Naval Architects & Marine Engineers (SSNAME).
Informa Markets
Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. Our portfolio is comprised of more than 550 international B2B events and brands in markets including Healthcare & Pharmaceuticals, Infrastructure, Construction & Real Estate, Fashion & Apparel, Hospitality, Food & Beverage, and Health & Nutrition, among others. We provide customers and partners around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, specialist digital content and actionable data solutions. As the world’s leading exhibitions organiser, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year. For more information, please visit www.informamarkets.com
Shanghai Society of Naval Architects and Marine Engineers (SSNAME)
Shanghai Society of Naval Architecture and Marine Engineers (SSNAME), founded in early 1951, is the first scientific and technological society in the field of shipbuilding and marine engineering of the People’s Republic of China. SSNAME currently has 5,000 individual members and more than 60 group members. It has 5 working Committees, 11 Specialized Committees and 3 Representative offices. As an important non-governmental scientific and technological society with high reputation and influence in the international field of shipbuilding and marine engineering, SSNAME has been committed to promoting the progress of shipbuilding and marine engineering technology and international exchanges and cooperation. SSNAME has established closely cooperative relations with 14 well-known overseas maritime engineering societies, such as SNAME, RINA, STG, JSNAOE, SNAK and so on. It is the initiator and first chairman of the Pan-Asian Association of Maritime Engineering Societies (PAAMES) and is also a member of the International Standing Committee of the World Maritime Technology Conference (WMTC). The “Xin Yixin Ship and Marine Engineering Science and Technology Innovation Award” founded by SSNAME has become an important award for scientific and technological talents. SSNAME organizes many academic exchanges, popular science and scientific and technological publication every year. For more information, please visit www.ssname.com.cn.
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View original content:https://www.prnewswire.co.uk/news-releases/marintec-innovation-conference-2024-charging-the-future-with-alternative-energy-sources-302316104.html
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