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TENCENT ANNOUNCES 2024 THIRD QUARTER RESULTS

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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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Global Times: The ‘engines’ behind China’s cultural ‘troika’: online dramas, games and novels

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BEIJING, Nov. 26, 2024 /PRNewswire/ — “Watching this drama throws me back to my school days when I used to watch many films and dramas from Hong Kong.” “I even tried the snacks mentioned in the novel, indulging in the same treats while reading.” Such online comments about Chinese cultural works on overseas social media and review platforms are fairly common. Audiences around the world are increasingly sharing reviews and forming online communities around China’s popular cultural products, especially online literature, games and dramas, despite physical distances.

Online dramas, games and novels have been seen as the “troika” of Chinese culture winning global audiences, according to reports such as the Report on the Development of Chinese Online Literature released by the Institute of Literature, Chinese Academy of Social Sciences.

Rooted in rich traditional culture and aligned with shared human values and sentiments, a growing number of cultural works in the realms of this “troika” have thrived, thanks in part to convenient channels of communication. These works not only showcase the uniqueness and allure of Chinese culture but also foster deeper connections among people around the globe.

Since Wednesday, international audiences on Netflix have been able to watch the thriller series See Her Again, centered on the fight between evil and justice, simultaneously with Chinese viewers on domestic video platform Tencent. This synchronized release has provided audiences with the opportunity to engage in real-time discussions about the drama across various review platforms.

Netizens have flocked to platforms like MyDramaList and Reddit to share their thoughts on the plot, background music, and characters in the drama, often receiving responses from other users.

“I can’t wait for the next episode. Wondering who is the real culprit. I’m on ep 10. I like time travel dramas. For me the storyline is interesting,” commented one viewer. Reviews like these are often upvoted by other netizens. These positive reactions are reflected in the drama’s viewership numbers on Netflix, where it has climbed to the Top 4 on the popularity list for Singapore.

“The online drama showcasing the local social atmosphere and customs also seeks to discuss the common values and shared emotions of all of humanity such as seeking the truth, protecting loved ones and upholding justice. This is the main reason that the work can stand out and attract audiences in different regions,” Shi Wenxue, a veteran cultural critic based in Beijing, told the Global Times on Monday.

“This is just like the hit online game Black Myth: Wukong,” Shi added, noting that the success stories of these remarkable cultural works across various forms share common factors.

The game secured top honors at the 2024 Golden Joystick Awards on Friday, winning “Ultimate Game of the Year” and “Best Visual Design,” while earning additional nominations for “Best Game Direction,” “Best Action Game,” and “Best Art Direction.” The results evoked cheers among international players, many of whom noted that this game deserves its reputation.

Shi noted that rooted in Chinese classics and traditional legends, Chinese game developers have been striving to weave compelling narratives with distinct Chinese characteristics through games. In doing so, they have created an expansive world view and values that resonate with global youth, contributing to the global success of their works.

Zhang Peng, a cultural researcher and associate professor at Nanjing Normal University, attributed Chinese online literature’s growing popularity overseas to its rich Chinese cultural elements, common spirit and innovative promulgation channels.

“Chinese online literature integrates diverse media and forms a diverse path of global dissemination. Besides this, the protagonists’ spirit such as persistence and wisdom in these works, along with the rich elements of traditional Chinese culture, render them highly captivating and influential, enabling overseas readers to gain a better understanding of China,” Zhang told the Global Times on Monday.

By the end of 2023, the number of Chinese online literature readers had reached a record 537 million, with the overseas market for this genre surpassing 4 billion yuan ($552 million) and spanning over 200 countries and regions.

Jose from Peru, Hoan from Poland and Vaishnu Ojha from India are representatives of the numerous readers of Chinese web novels. They are loyal followers of the hit Chinese web novel Lord of the Mysteries, a top-ranked fantasy, adventure and steampunk thriller that has amassed over 47 million views on WebNovel.

The three readers of the novel have formed a 24,000-member group on Facebook run by Vaishnu Ojha. They discuss classic passages in the book and share their reviews of newly released content with other group members around the world. For them, the online group has been a spiritual home or a joyful base to communicate with peers.

Zhang noted that as important carriers of Chinese culture, online literature, games and dramas allow global readers to access and understand Chinese culture through unique stories and cultural elements, thereby enhancing their understanding and awareness of Chinese culture.

“The global popularity of the ‘troika’ demonstrates the need for us to pay greater attention to the power of the internet and to fully leverage its advantage in disseminating Chinese culture. This approach will help foster a positive international atmosphere that respects Chinese history, appreciates Chinese culture, and understands the essence of the Chinese spirit,” said Zhang.

 

View original content:https://www.prnewswire.com/news-releases/global-times-the-engines-behind-chinas-cultural-troika-online-dramas-games-and-novels-302316199.html

SOURCE Global Times

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Creality Shines at Formnext 2024, Unveils K2 Plus, New CoreXY Model, and Accessories

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FRANKFURT, Germany, Nov. 26, 2024 /PRNewswire/ — Creality made a strong impression at Formnext 2024, continuing its legacy as a leading innovator in 3D printing technology. This year’s exhibit underscored Creality’s commitment to innovation and collaboration with a diverse range of solutions for both hobbyists and professionals.

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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MARINTEC INNOVATION CONFERENCE 2024: Charging the Future with Alternative Energy Sources

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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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