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FinVolution Group Reports Third Quarter 2024 Unaudited Financial Results

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-Third Quarter Total Transaction Volume reached RMB52.2 billion, up 1.8% year-over-year-
-Third Quarter International Transaction Volume reached RMB2.7 billion, up 22.7% year-over-year-
-Third Quarter International Revenues increased to RMB635.5 million, up 8.7% year-over-year, contributing 19.4% of total net revenues-

SHANGHAI, Nov. 18, 2024 /PRNewswire/ — FinVolution Group (“FinVolution” or the “Company”) (NYSE: FINV), a leading fintech platform in China, Indonesia and the Philippines, today announced its unaudited financial results for the third quarter ended September 30, 2024.

For the Three Months Ended/As of

YoY

Change

September 30,
 2023

September 30,
 2024

Total Transaction Volume (RMB in billions)[1]          

51.3

52.2

1.8 %

Transaction Volume (China’s Mainland)[2]

49.1

49.5

0.8 %

Transaction Volume (International)[3]

2.2

2.7

22.7 %

Total Outstanding Loan Balance (RMB in billions)

65.9

68.1

3.3 %

Outstanding Loan Balance (China’s Mainland)[4]  

64.6

66.5

2.9 %

Outstanding Loan Balance (International)[5]

1.3

1.6

23.1 %

Third Quarter 2024 China Market Operational Highlights

Cumulative registered users[6] reached 166.8 million as of September 30, 2024, an increase of 9.3% compared with September 30, 2023.Cumulative borrowers[7] reached 26.3 million as of September 30, 2024, an increase of 6.0% compared with September 30, 2023.Number of unique borrowers[8] for the third quarter of 2024 was 2.0 million, a decrease of 13.0% compared with the same period of 2023.Transaction volume[2] reached RMB49.5 billion for the third quarter of 2024, an increase of 0.8% compared with the same period of 2023.Transaction volume facilitated for repeat individual borrowers[9] for the third quarter of 2024 was RMB43.0 billion, an increase of 1.4% compared with the same period of 2023.Outstanding loan balance[4] reached RMB66.5 billion as of September 30, 2024, an increase of 2.9% compared with September 30, 2023.Average loan size[10] was RMB10,066 for the third quarter of 2024, compared with RMB8,505 for the same period of 2023.Average loan tenure[11] was 8.0 months for the third quarter of 2024, compared with 8.2 months for the same period of 2023.90 day+ delinquency ratio[12] was 2.50% as of September 30, 2024, compared with 1.67% as of September 30, 2023.

Third Quarter 2024 International Market Operational Highlights

Cumulative registered users[13] reached 32.4 million as of September 30, 2024, an increase of 44.0% compared with September 30, 2023.Cumulative borrowers[14] for the international market reached 6.3 million as of September 30, 2024, an increase of 43.2% compared with September 30, 2023.Number of unique borrowers[15] for the third quarter of 2024 was 1.4 million, an increase of 50.5% compared with the same period of 2023.Number of new borrowers[16] for the third quarter of 2024 was 0.67 million, an increase of 59.5% compared with the same period of 2023.Transaction volume[3] reached RMB2.7 billion for the third quarter of 2024, an increase of 22.7% compared with the same period of 2023.Outstanding loan balance[5] reached RMB1.6 billion as of September 30, 2024, an increase of 23.1% compared with September 30, 2023.International business revenue was RMB635.5 million (US$90.6 million) for the third quarter of 2024, an increase of 8.7% compared with the same period of 2023, representing 19.4% of total revenue for the third quarter of 2024.

Third Quarter 2024 Financial Highlights

Net revenue was RMB3,276.1 million (US$466.8 million) for the third quarter of 2024, compared with RMB3,197.5 million for the same period of 2023.Net profit was RMB624.1 million (US$88.9 million) for the third quarter of 2024, compared with RMB574.7 million for the same period of 2023.Non-GAAP adjusted operating income,[17] which excludes share-based compensation expenses before tax, was RMB599.8 million (US$85.5 million) for the third quarter of 2024, compared with RMB583.8 million for the same period of 2023.Diluted net profit per American depositary share (“ADS”) was RMB2.40 (US$0.34) and diluted net profit per share was RMB0.48 (US$0.07) for the third quarter of 2024, compared with RMB2.05 and RMB0.41 for the same period of 2023 respectively.Non-GAAP diluted net profit per ADS was RMB2.55 (US$0.36) and non-GAAP diluted net profit per share was RMB0.51 (US$0.07) for the third quarter of 2024, compared with RMB2.16 and RMB0.43 for the same period of 2023 respectively. Each ADS of the Company represents five Class A ordinary shares of the Company.

[1] Represents the total transaction volume facilitated in China’s Mainland and the international markets on the Company’s platforms during the period presented.

[2] Represents our transaction volume facilitated in China’s Mainland during the period presented. During the third quarter, RMB14.6 billion were facilitated under the capital-light model, for which the Company does not bear principal risk.

[3] Represents our transaction volume facilitated in markets outside China’s Mainland during the period presented.

[4] Outstanding loan balance (China’s Mainland) as of any date refers to the balance of outstanding loans in China’s Mainland market excluding loans delinquent for more than 180 days from such date. As of September 30, 2024, RMB21.4 billion were facilitated under the capital-light model, for which the Company does not bear principal risk.

[5] Outstanding loan balance (international) as of any date refers to the balance of outstanding loans in the international markets excluding loans delinquent for more than 30 days from such date.

[6] On a cumulative basis, the total number of users in China’s Mainland market registered on the Company’s platform as of September 30, 2024.

[7] On a cumulative basis, the total number of borrowers in China’s Mainland market registered on the Company’s platform as of September 30, 2024.

[8] Represents the total number of borrowers in China’s Mainland who have successfully borrowed on the Company’s platform during the period presented.

[9] Represents the transaction volume facilitated for repeat borrowers in China’s Mainland who successfully completed a transaction on the Company’s platform during the period presented.

[10] Represents the average loan size on the Company’s platform in China’s Mainland during the period presented.

[11] Represents the average loan tenor on the Company’s platform in China’s Mainland during the period presented.

[12] “90 day+ delinquency ratio” refers to the outstanding principal balance of loans, excluding loans facilitated under the capital-light model, that were 90 to 179 calendar days past due as a percentage of the total outstanding principal balance of loans, excluding loans facilitated under the capital-light model on the Company’s platform as of a specific date. Loans that originated outside China’s Mainland are not included in the calculation.

[13] On a cumulative basis, the total number of users registered on the Company’s platforms outside China’s Mainland market, as of September 30, 2024.

[14] On a cumulative basis, the total number of borrowers on the Company’s platforms outside China’s Mainland market, as of September 30, 2024.

[15] Represents the total number of borrowers outside China’s Mainland who have successfully borrowed on the Company platforms during the period presented.

[16] Represents the total number of new borrowers outside China’s Mainland whose transactions were facilitated on the Company’s platforms during the period presented.

[17] Please refer to “UNAUDITED Reconciliation of GAAP And Non-GAAP Results” for reconciliation between GAAP and Non-GAAP adjusted operating income.

 

Mr. Tiezheng Li, Chief Executive Officer of FinVolution, commented, “Through strong execution of our Local Excellence, Global Outlook strategy, we have cumulatively served 32.6 million borrowers across China, Indonesia and the Philippines as of the end of the third quarter. We continued to prioritize the acquisition of high-quality borrowers, once again driving the total number of new borrowers across all our platforms beyond the one million mark. Total transaction volume reached RMB52.2 billion, while total outstanding loan balance reached RMB68.1 billion, up 1.8% and 3.3% year-over-year, respectively.

“Our international markets continued to deliver faster growth with solid progress across numerous metrics. The number of new borrowers in the international markets surpassed the number of new borrowers in the China market for the second consecutive quarter, reaching 671 thousand, up 59.5% year-over-year. Also, the international market’s transaction volume and outstanding loan balances rose to RMB2.7 billion and RMB1.6 billion, up 22.7% and 23.1% year-over-year, respectively, validating our deep commitment to international expansion,” concluded Mr. Li.

Mr. Jiayuan Xu, FinVolution’s Chief Financial Officer, continued, “Our financial performance improved progressively with net revenues for the third quarter reaching RMB3,276.1 million (US$466.8 million), up 2.5% year-over-year. Contributions from international revenue grew further to RMB635.5 million (US$90.6 million), up 8.7% year-over-year, and accounted for 19.4% of total revenue. Our total liquidity position as of September 30, 2024 stood at RMB8,970.3 million (US$1,278.3 million), up 13.1% from December 31, 2023, reflecting our ability to deliver consistent growth across all our markets while strengthening our capital return program.

“As part of our commitment to consistently return value to shareholders through business growth and capital return, we deployed US$24.3 million in the third quarter of 2024 to repurchase our shares on the secondary market. For the first nine months of 2024, we deployed US$81.1 million to repurchase our shares on the secondary market, up 23.2% year-over-year. Cumulatively, we have returned a total of US$686.1 million to our shareholders through our capital return program since 2018, demonstrating our dedication to consistent and sustainable shareholder value creation,” concluded Mr. Xu.

Third Quarter 2024 Financial Results

Net revenue for the third quarter of 2024 was RMB3,276.1 million (US$466.8 million), compared with RMB3,197.5 million for the same period of 2023. This increase was primarily due to the increase in loan facilitation service fees, guarantee income and other revenue.

Loan facilitation service fees was RMB1,253.1 million (US$178.6 million) for the third quarter of 2024, compared with RMB1,129.8 million for the same period of 2023. The increase was primarily due to the increase in the transaction volume. 

Post-facilitation service fees was RMB425.3 million (US$60.6 million) for the third quarter of 2024, compared with RMB498.9 million for the same period of 2023. This decrease was primarily due to the rolling impact of deferred transaction fees in the China market.

Guarantee income was RMB1,234.8 million (US$176.0 million) for the third quarter of 2024, compared with RMB1,152.0 million for the same period of 2023. This increase was primarily due to the increased outstanding loan balance of off-balance sheet loans in the international market, as well as the rolling impact of deferred guarantee income. The fair value of quality assurance commitment upon loan origination is released as guarantee income systematically over the term of the loans subject to quality assurance commitment. 

Net interest income was RMB185.7 million (US$26.5 million) for the third quarter of 2024, compared with RMB273.3 million for the same period of 2023.This decrease was primarily due to the decrease in the average outstanding loan balances of on-balance sheet loans in the international markets.

Other revenue was RMB177.1 million (US$25.2 million) for the third quarter of 2024, compared with RMB143.5 million for the same period of 2023. This increase was primarily due to the increase in the contributions from other revenue streams.

Origination, servicing expenses and other costs of revenue was RMB603.1 million (US$85.9 million) for the third quarter of 2024, compared with RMB520.0 million for the same period of 2023. This increase was primarily due to the increase in facilitation costs and loan collection expenses as a result of higher outstanding loan balances. 

Sales and marketing expenses was RMB560.2 million (US$79.8 million) for the third quarter of 2024, compared with RMB530.1 million for the same period of 2023, as a result of our more proactive customer acquisition efforts focusing on quality borrowers in both China and the international markets.

Research and development expenses was RMB130.7 million (US$18.6 million) for the third quarter of 2024, compared with RMB132.6 million for the same period of 2023. This decrease was primarily due to our improvements in technology development efficiency.

General and administrative expenses was RMB116.8 million (US$16.6 million) for the third quarter of 2024, compared with RMB98.6 million for the same period of 2023. This increase was primarily due to the increased benefits we provided to our employees. 

Provision for accounts receivable and contract assets was RMB99.0 million (US$14.1 million) for the third quarter of 2024, compared with RMB86.9 million for the same period of 2023. This increase was primarily due to the increase in transaction loan volume in both China and international markets. 

Provision for loans receivable was RMB82.4 million (US$11.7 million) for the third quarter of 2024, compared with RMB176.8 million for the same period of 2023. This decrease was primarily due to the decrease in the loan volume and the outstanding loan balances of on-balance sheet loans in the international markets.

Credit losses for quality assurance commitment was RMB1,123.6 million (US$160.1 million) for the third quarter of 2024, compared with RMB1,099.2 million for the same period of 2023. The increase was primarily due to the increased outstanding loan balances of off-balance sheet loans in the international markets.

Operating profit was RMB560.2 million (US$79.8 million) for the third quarter of 2024, compared with RMB553.4 million for the same period of 2023.

Non-GAAP adjusted operating income, which excludes share-based compensation expenses before tax, was RMB599.8 million (US$85.5 million) for the third quarter of 2024, compared with RMB583.8 million for the same period of 2023.

Other income was RMB185.5 million (US$26.4 million) for the third quarter of 2024, compared with RMB124.4 million for the same period of 2023. The increase was mainly due to the increase in government subsidies.

Income tax expense was RMB121.7 million (US$17.3 million) for the third quarter of 2024, compared with RMB103.1 million for the same period of 2023. This increase was mainly due to the increase in pre-tax profit and the change in effective tax rate.  

Net profit was RMB624.1 million (US$88.9 million) for the third quarter of 2024, compared with RMB574.7 million for the same period of 2023.

Net profit attributable to ordinary shareholders of the Company was RMB623.6 million (US$88.9 million) for the third quarter of 2024, compared with RMB566.0 million for the same period of 2023.

Diluted net profit per ADS was RMB2.40 (US$0.34) and diluted net profit per share was RMB0.48 (US$0.07) for the third quarter of 2024, compared with RMB2.05 and RMB0.41 for the same period of 2023 respectively.

Non-GAAP diluted net profit per ADS was RMB2.55 (US$0.36) and non-GAAP diluted net profit per share was RMB0.51 (US$0.07) for the third quarter of 2024, compared with RMB2.16 and RMB0.43 for the same period of 2023 respectively. Each ADS represents five Class A ordinary shares of the Company.

As of September 30, 2024, the Company had cash and cash equivalents of RMB5,104.3 million (US$727.4 million) and short-term investments, mainly in wealth management products and term deposits, of RMB3,866.0 million (US$550.9 million).

The following chart shows the historical cumulative 30-day plus past due delinquency rates by loan origination vintage for loan products facilitated through the Company’s platform in China’s Mainland as of September 30, 2024. Loans facilitated under the capital-light model, for which the Company does not bear principal risk, are excluded from the chart.

Click here to view the chart: https://mma.prnewswire.com/media/2560279/Picture1.jpg?p=publish

Shares Repurchase Update

For the third quarter of 2024, the Company deployed a total of US$24.3 million to repurchase its own Class A ordinary shares in the form of ADSs in the market. As of September 30, 2024, in combination with the Company’s historical and existing share repurchase programs, the Company had cumulatively repurchased its own Class A ordinary shares in the form of ADSs with a total aggregate value of approximately US$361.1 million since 2018.

Business Outlook

While the macroeconomic recovery continued to gain traction with pockets of improvement since the beginning of 2024, uncertainties persist in the markets in which we operate. The Company has observed encouraging signs of recovery and will continue to closely monitor macro conditions across our pan-Asian markets and remain prudent in our business operations. The Company reiterates its full-year 2024 transaction volume guidance for the China market in the range of RMB195.7 billion to RMB205.0 billion, representing year-over-year growth of approximately 5.0% to 10.0%. At the same time, the Company expects its full-year 2024 transaction volume for the international markets to be in the range of RMB9.4 billion to RMB11.0 billion, representing year-over-year growth of approximately 20.0% to 40.0%.

The above forecast is based on the current market conditions and reflects the Company’s current preliminary views and expectations on market and operational conditions and the regulatory and operating environment, as well as customers’ and institutional partners’ demands, all of which are subject to change.

Conference Call

The Company’s management will host an earnings conference call at 7:30 PM U.S. Eastern Time on November 18, 2024 (8:30 AM Beijing/Hong Kong Time on November 19, 2024).

Dial-in details for the earnings conference call are as follows:

United States (toll free):

+1-888-346-8982

Canada (toll free):

+1-855-669-9657

International:

+1-412-902-4272

Hong Kong, China (toll free):

800-905-945

Hong Kong, China:

+852-3018-4992

Mainland, China:

400-120-1203

Participants should dial in at least five minutes before the scheduled start time and ask to be connected to the call for “FinVolution Group.”

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://ir.finvgroup.com.

A replay of the conference call will be accessible approximately one hour after the conclusion of the live call until November 25, 2024, by dialing the following telephone numbers:

United States (toll free):

+1-877-344-7529

Canada (toll free):                

+1-855-669-9658

International:

+1-412-317-0088

Replay Access Code:

3196612

 

About FinVolution Group 

FinVolution Group is a leading fintech platform with strong brand recognition in China, Indonesia and the Philippines, connecting borrowers of the young generation with financial institutions. Established in 2007, the Company is a pioneer in China’s online consumer finance industry and has developed innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company’s platforms, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of September 30, 2024, the Company had 199.2 million cumulative registered users across China, Indonesia and the Philippines.

For more information, please visit https://ir.finvgroup.com

Use of Non-GAAP Financial Measures

We use non-GAAP adjusted operating income, non-GAAP operating margin, non-GAAP net profit, non-GAAP net profit attributable to FinVolution Group, and non-GAAP basic and diluted net profit per share and per ADS which are non-GAAP financial measures, in evaluating our operating results and for financial and operational decision-making purposes. We believe that these non-GAAP financial measures help identify underlying trends in our business by excluding the impact of share-based compensation expenses and expected discretionary measures. We believe that non-GAAP financial measures provide useful information about our operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.

Non-GAAP adjusted operating income, non-GAAP operating margin, non-GAAP net profit, non-GAAP net profit attributable to FinVolution Group, and non-GAAP basic and diluted net profit per share and per ADS are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as analytical tool, and when assessing our operating performance, cash flows or our liquidity, investors should not consider it in isolation, or as a substitute for net income, cash flows provided by operating activities or other consolidated statements of operation and cash flow data prepared in accordance with U.S. GAAP. The Company encourages investors and others to review our financial information in its entirety and not rely on a single financial measure.

For more information on this non-GAAP financial measure, please see the table captioned “Reconciliations of GAAP and Non-GAAP results” set forth at the end of this press release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.0176 to US$1.00, the rate in effect as of September 30, 2024 as certified for customs purposes by the Federal Reserve Bank of New York.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of 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,” “target,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company’s ability to attract and retain borrowers and investors on its marketplace, its ability to increase volume of loans facilitated through the Company’s marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, laws, regulations and governmental policies relating to the online consumer finance industry in China, general economic conditions in China, and the Company’s ability to meet the standards necessary to maintain listing of its ADSs on the NYSE, including its ability to cure any non-compliance with the NYSE’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and FinVolution does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

For investor and media inquiries, please contact:

In China:
FinVolution Group
Head of Capital Markets
Jimmy Tan, IRC
Tel: +86 (21) 8030-3200 Ext. 8601
E-mail: ir@xinye.com 

Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: finv@tpg-ir.com   

In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: finv@tpg-ir.com

 

 

 

FinVolution Group

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except share data, or otherwise noted)

As of December 31,

As of September 30,

2023

2024

RMB

RMB

USD

Assets

Cash and cash equivalents

4,969,319

5,104,262

727,352

Restricted cash

1,800,071

1,828,148

260,509

Short-term investments

2,960,821

3,866,027

550,904

Investments

1,135,133

1,169,383

166,636

Quality assurance receivable, net of credit loss allowance for
  quality assurance receivable of RMB529,392 and
  RMB453,718 as of December 31, 2023 and September 30, 2024,
  respectively 

1,755,615

1,722,136

245,402

Intangible assets

98,692

137,298

19,565

Property, equipment and software, net

140,933

637,928

90,904

Loans receivable, net of credit loss allowance for loans receivable
  of RMB214,550 and RMB206,241 as of December 31, 2023 and
  September 30, 2024, respectively

1,127,388

2,217,496

315,991

Accounts receivable and contract assets, net of credit loss
  allowance for accounts receivable and contract assets of
  RMB310,394 and RMB280,927 as of December 31, 2023 and
  September 30, 2024, respectively 

2,208,538

2,208,504

314,709

Deferred tax assets

1,624,325

2,395,800

341,399

Right of use assets

38,110

29,987

4,273

Prepaid expenses and other assets

3,384,317

1,411,192

201,093

Goodwill

50,411

50,411

7,184

Total assets

21,293,673

22,778,572

3,245,921

Liabilities and Shareholders’ Equity

Deferred guarantee income

1,882,036

1,629,253

232,167

Liability from quality assurance commitment

3,306,132

3,166,283

451,192

Payroll and welfare payable

261,528

229,497

32,703

Taxes payable

207,477

637,803

90,886

Short-term borrowings

5,756

5,995

854

Funds payable to investors of consolidated trusts

436,352

435,669

62,082

Contract liability

5,109

11,573

1,649

Deferred tax liabilities

340,608

464,312

66,164

Accrued expenses and other liabilities

941,899

1,286,654

183,347

Leasing liabilities

35,878

25,266

3,600

Total liabilities

7,422,775

7,892,305

1,124,644

Commitments and contingencies

FinVolution Group Shareholders’ equity

Ordinary shares

103

103

15

Additional paid-in capital

5,748,734

5,811,096

828,075

Treasury stock

(1,199,683)

(1,730,759)

(246,631)

Statutory reserves

762,472

762,472

108,651

Accumulated other comprehensive income

80,006

64,421

9,180

Retained Earnings

8,357,153

9,618,263

1,370,592

Total FinVolution Group shareholders’ equity

13,748,785

14,525,596

2,069,882

Non-controlling interest

122,113

360,671

51,395

Total shareholders’ equity

13,870,898

14,886,267

2,121,277

Total liabilities and shareholders’ equity

21,293,673

22,778,572

3,245,921

 

 

 

FinVolution Group

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
INCOME

 (All amounts in thousands, except share data, or otherwise noted)

For the Three Months Ended September 30,

For the Nine Months Ended September 30,

2023

2024

2023

2024

RMB

RMB

USD

 RMB

RMB

USD

Operating revenue:

      Loan facilitation service fees

1,129,776

1,253,113

178,567

3,413,070

3,349,581

477,311

      Post-facilitation service fees

498,916

425,348

60,612

1,474,274

1,279,776

182,367

      Guarantee income

1,152,047

1,234,752

175,951

3,211,480

3,879,794

552,866

      Net interest income

273,274

185,742

26,468

821,953

635,852

90,608

      Other Revenue

143,514

177,096

25,236

403,071

464,129

66,138

Net revenue

3,197,527

3,276,051

466,834

9,323,848

9,609,132

1,369,290

Operating expenses:

      Origination, servicing expenses and other cost of
revenue

(519,985)

(603,071)

(85,937)

(1,548,373)

(1,717,857)

(244,793)

      Sales and marketing expenses

(530,110)

(560,220)

(79,831)

(1,396,061)

(1,482,724)

(211,286)

      Research and development expenses

(132,588)

(130,736)

(18,630)

(383,381)

(370,483)

(52,793)

      General and administrative expenses

(98,641)

(116,759)

(16,638)

(274,813)

(300,978)

(42,889)

      Provision for accounts receivable and contract assets

(86,884)

(99,018)

(14,110)

(217,535)

(221,917)

(31,623)

      Provision for loans receivable 

(176,776)

(82,394)

(11,741)

(479,281)

(255,667)

(36,432)

      Credit losses for quality assurance commitment

(1,099,154)

(1,123,628)

(160,116)

(3,153,288)

(3,512,299)

(500,499)

Total operating expenses

(2,644,138)

(2,715,826)

(387,003)

(7,452,732)

(7,861,925)

(1,120,315)

Operating profit

553,389

560,225

79,831

1,871,116

1,747,207

248,975

      Other income, net

124,387

185,517

26,436

327,065

284,178

40,495

Profit before income tax expense

677,776

745,742

106,267

2,198,181

2,031,385

289,470

      Income tax expenses

(103,061)

(121,666)

(17,337)

(343,528)

(324,295)

(46,212)

Net profit

574,715

624,076

88,930

1,854,653

1,707,090

243,258

      Net profit attributable to non-controlling interest
shareholders

8,757

481

69

38,377

4,649

662

Net profit attributable to FinVolution Group

565,958

623,595

88,861

1,816,276

1,702,441

242,596

      Foreign currency translation adjustment, net of nil tax 

(88,159)

21,206

3,022

(36,624)

(15,585)

(2,221)

Total comprehensive income attributable

      to FinVolution Group

477,799

644,801

91,883

1,779,652

1,686,856

240,375

Weighted average number of ordinary shares used in
     computing net income per share

      Basic

1,356,802,618

1,273,874,143

1,273,874,143

1,385,417,916

1,294,603,294

1,294,603,294

      Diluted

1,382,049,817

1,300,972,157

1,300,972,157

1,414,900,795

1,325,385,787

1,325,385,787

Net profit per share attributable to FinVolution

      Group’s ordinary shareholders 

      Basic

0.42

0.49

0.07

1.31

1.32

0.19

      Diluted

0.41

0.48

0.07

1.28

1.28

0.18

Net profit per ADS attributable to FinVolution

      Group’s ordinary shareholders (one ADS equal 

      five ordinary shares) 

      Basic

2.09

2.45

0.35

6.55

6.58

0.94

      Diluted

2.05

2.40

0.34

6.42

6.42

0.92

 

 

 

FinVolution Group

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

 (All amounts in thousands, except share data, or otherwise noted)

Three Months Ended September 30,

Nine Months Ended September 30,

2023

2024

2023

2024

RMB

RMB

USD

RMB

RMB

USD

Net cash provided by operating
activities

178,370

1,577,985

224,861

1,357,273

2,737,763

390,128

Net cash provided by/(used in)
investing activities

591,067

(1,895,758)

(270,143)

1,516,238

(1,547,729)

(220,550)

Net cash used in financing activities

(110,924)

(253,744)

(36,158)

(1,516,270)

(1,024,661)

(146,013)

Effect of exchange rate changes on
cash and cash equivalents

(11,383)

27,198

3,876

27,416

(2,353)

(334)

Net increase/ (decrease) in cash, cash
equivalent and restricted cash

647,130

(544,319)

(77,564)

1,384,657

163,020

23,231

Cash, cash equivalent and restricted
cash at beginning of period

7,216,614

7,476,729

1,065,425

6,479,087

6,769,390

964,630

Cash, cash equivalent and restricted
cash at end of period

7,863,744

6,932,410

987,861

7,863,744

6,932,410

987,861

 

 

 

 FinVolution Group

UNAUDITED Reconciliation of GAAP and Non-GAAP Results

 (All amounts in thousands, except share data, or otherwise noted)

For the Three Months Ended September 30,

For the Nine Months Ended September 30,

2023

2024

2023

2024

RMB

RMB

USD

RMB

RMB

USD

Net Revenues

3,197,527

3,276,051

466,834

9,323,848

9,609,132

1,369,290

Less: total operating expenses

(2,644,138)

(2,715,826)

(387,003)

(7,452,732)

(7,861,925)

(1,120,315)

Operating Income

553,389

560,225

79,831

1,871,116

1,747,207

248,975

Add: share-based compensation expenses

30,376

39,599

5,643

82,192

109,988

15,673

Non-GAAP adjusted operating income

583,765

599,824

85,474

1,953,308

1,857,195

264,648

Operating Margin

17.3 %

17.1 %

17.1 %

20.1 %

18.2 %

18.2 %

Non-GAAP operating margin

18.3 %

18.3 %

18.3 %

20.9 %

19.3 %

19.3 %

Non-GAAP adjusted operating income

583,765

599,824

85,474

1,953,308

1,857,195

264,648

Add: other income, net

124,387

185,517

26,436

327,065

284,178

40,495

Less: income tax expenses

(103,061)

(121,666)

(17,337)

(343,528)

(324,295)

(46,212)

Non-GAAP net profit

605,091

663,675

94,573

1,936,845

1,817,078

258,931

Net profit attributable to non-controlling interest

shareholders

8,757

481

69

38,377

4,649

662

Non-GAAP net profit attributable to FinVolution
Group

596,334

663,194

94,504

1,898,468

1,812,429

258,269

Weighted average number of ordinary shares used in
computing net income per share

Basic

1,356,802,618

1,273,874,143

1,273,874,143

1,385,417,916

1,294,603,294

1,294,603,294

Diluted

1,382,049,817

1,300,972,157

1,300,972,157

1,414,900,795

1,325,385,787

1,325,385,787

Non-GAAP net profit per share attributable to
FinVolution Group’s ordinary shareholders

Basic

0.44

0.52

0.07

1.37

1.40

0.20

Diluted

0.43

0.51

0.07

1.34

1.37

0.19

Non-GAAP net profit per ADS attributable to
FinVolution Group’s ordinary shareholders (one ADS
equal five ordinary shares)

Basic

2.20

2.60

0.37

6.85

7.00

1.00

Diluted

2.16

2.55

0.36

6.71

6.84

0.97

 

View original content:https://www.prnewswire.com/news-releases/finvolution-group-reports-third-quarter-2024-unaudited-financial-results-302308772.html

SOURCE FinVolution Group

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Technology

Machine Translation Market to Grow by USD 1.23 Billion (2024-2028), Driven by Content Localization Demand, with AI Redefining Market Landscape – Technavio

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2 minutes ago

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November 19, 2024

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NEW YORK, Nov. 18, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global machine translation market  size is estimated to grow by USD 1.23 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  15.89%  during the forecast period. Increasing demand for content localization is driving market growth, with a trend towards rising use of multilingual AI. However, availability of open-source machine translation service tools  poses a challenge.Key market players include Alphabet Inc., ARGOS TRANSLATIONS Sp. Z o.o., Babylon Software Ltd., Cloudwords Inc., CSOFT International Inc., Global Lingo Ltd., Honyaku Center Inc., International Business Machines Corp., Lingotek Inc., Lingua Custodia, Lionbridge Technologies LLC, Microsoft Corp., Omniscien Technologies, Promt, SYSTRAN SA, Teleperformance SE, thebigword Group Ltd., TransPerfect Global Inc., Welocalize Inc., and RWS Holdings PLC.

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Defense, IT, Automotive, and Healthcare), Deployment (On-premises and Cloud), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Alphabet Inc., ARGOS TRANSLATIONS Sp. Z o.o., Babylon Software Ltd., Cloudwords Inc., CSOFT International Inc., Global Lingo Ltd., Honyaku Center Inc., International Business Machines Corp., Lingotek Inc., Lingua Custodia, Lionbridge Technologies LLC, Microsoft Corp., Omniscien Technologies, Promt, SYSTRAN SA, Teleperformance SE, thebigword Group Ltd., TransPerfect Global Inc., Welocalize Inc., and RWS Holdings PLC

Key Market Trends Fueling Growth

Machine translation (MT) is a growing market driven by the need for multilingual communication in various industries. Artificial intelligence (AI) and deep learning techniques are trending in MT, enabling better quality and accuracy through neural networks and natural language processing. Big data and internet penetration have expanded language data availability, benefiting language service providers. E-commerce, education, healthcare, legal services, and travel industries are major consumers of MT. Chatbots and real-time translation are emerging trends, while hybrid approaches offer domain-specific adaptation. Limited language coverage remains a challenge, but advancements in AI and natural language understanding are addressing this issue. Multilingual content creation and customer support are essential for businesses targeting emerging economies and internet users. Speech recognition and deep neural networks are future technologies poised to revolutionize MT. 

In today’s global business landscape, companies and organizations require effective communication with customers, partners, and stakeholders across linguistic borders. Multilingual Artificial Intelligence (AI) solutions enable seamless communication by translating text in real-time. This technology expands market reach and improves access to information and services for non-English speaking populations. Advertising agencies and marketing firms utilize advanced neural machine translation technologies to tailor advertisements and localize content based on audience demographics and purchase history. By automating translation tasks, businesses can streamline processes and enhance customer engagement. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

The Machine Translation (MT) market is experiencing significant growth due to the increasing need for multilingual communication in various industries. However, challenges persist in delivering accurate and high-quality translations. Artificial Intelligence (AI) and Deep Learning Techniques are being used to improve MT, but limited language coverage and data availability remain obstacles. Big data and Internet penetration are driving the growth of MT in emerging economies and e-commerce. However, domain-specific adaptation and hybrid approaches are necessary to ensure quality and accuracy. Chatbots and real-time translation are revolutionizing multilingual customer support, while speech recognition and natural language processing are enhancing communication infrastructure. The education, healthcare, legal services, and travel industries are major consumers of MT. Despite these advancements, the role of professional linguists remains crucial in ensuring the quality of translations. Overall, the MT market is evolving rapidly, with AI, big data, and real-time translation being key drivers.The machine translation market is growing due to the use of advanced software like translation memory (TM), translation management software (TMS), and computer-assisted translation (CAT). While proprietary versions of these tools can be expensive, such as SDL Trados Studio, many small and medium-sized enterprises (SMEs) opt for open-source alternatives. Free CAT tools, like Omega T Open TM2 and Anaphraseus, and open-source machine translation engines, such as Apertium and Moses, are available online. These options put pressure on vendors’ pricing strategies, making machine translation more accessible to businesses of all sizes.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This machine translation market report extensively covers market segmentation by

Application 1.1 Defense1.2 IT1.3 Automotive1.4 HealthcareDeployment 2.1 On-premises2.2 CloudGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Defense-  The global machine translation market is experiencing significant growth due to the increasing demand for advanced electronic warfare systems in defense sectors. These systems are essential for safeguarding critical assets and infrastructure, as well as countering unconventional security threats. Machine translation plays a crucial role in the development of electronic warfare systems, with extensive use in various stages. The need for improved intelligence, stealth capabilities, and precision attack is driving the market’s growth. Modern electronic warfare systems offer multiple advantages, including the ability to combine support, protection, and attack functions in one unit. They also provide real-time impact recording and offer defensive countermeasure solutions. Defense forces can quickly update their threat library and classify new and existing threats using machine translation. The equipment used in electronic warfare is undergoing advancements, thanks to progressions in algorithms and software. These systems are available in various sizes and power levels, making them suitable for use on land, air, sea, or space. The demand for machine translation in defense sectors is expected to continue, leading to market growth.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

Machine translation (MT) is a subfield of computational linguistics that utilizes artificial intelligence (AI), deep neural networks, and natural language processing to translate text from one language to another. The market for machine translation is growing rapidly due to the increasing demand for multilingual communication in various sectors, including digital content, e-commerce, travel, healthcare, and more. Deep learning techniques, such as neural networks, are increasingly being used to improve the accuracy and fluency of machine translation. The proliferation of the internet and smartphone penetration, as well as the availability of big data, are also driving the growth of the machine translation market. Language localization is a critical application of machine translation, enabling businesses to reach international audiences more effectively. However, it is important to note that machine translation is not a replacement for professional linguists and translation theory, but rather a tool to facilitate communication and streamline the translation process. Communication infrastructure, including translation memory systems and terminology databases, are essential for effective machine translation. The market for machine translation is expected to continue growing as more industries recognize the value of multilingual communication in an increasingly globalized world.

Market Research Overview

Machine Translation (MT) is a subfield of Natural Language Processing (NLP) that utilizes Artificial Intelligence (AI), Deep Learning Techniques, and Neural Networks to translate text or speech from one language to another. The market for Machine Translation is growing rapidly due to the increasing need for multilingual communication, multilingual content creation, and multilingual customer support. Factors driving the growth of the market include Internet penetration, smartphone penetration, and the availability of large amounts of language data. Big data and Deep Learning Techniques are being used to improve the quality and accuracy of MT systems. The market covers various applications such as E-commerce, Education, Healthcare, Legal Services, Travel, and others. Challenges include limited language coverage and the need for domain-specific adaptation. Hybrid Approaches that combine AI and professional linguists are also gaining popularity. Chatbots and Speech Recognition are also being integrated into MT systems to provide real-time translation and multilingual communication infrastructure.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationDefenseITAutomotiveHealthcareDeploymentOn-premisesCloudGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

OTOY, in association with William Shatner and the Nimoy Estate, releases ‘765874 Unification,’ commemorating 30th anniversary of “Star Trek: Generations” with an immersive media experience for The Archive

Published

2 minutes ago

on

November 19, 2024

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On the 30th anniversary of “Star Trek: Generations”, The Archive and William Shatner revisit Captain Kirk’s final appearance on screen in a new 8-minute video produced for The Archive app on Apple Vision Pro: “765874: Unification”, launched in tandem with new interactive sets and documentary interviews and behind the scenes content celebrating the legacy of the 1994 film.

LOS ANGELES, Nov. 18, 2024 /PRNewswire/ — OTOY, Inc is proud to release the next major update to The Archive, with ‘765874: Unification’, a mind-bending Star Trek experience celebrating the 30th anniversary of Star Trek: Generations – William Shatner’s last appearance as Captain Kirk on screen.

‘765874: Unification’ launches today on The Archive web portal and native app, an immersive experiential app designed for Apple Vision Pro. The release is accompanied by new interactive sets, props, and worlds from the 1994 film as well as a 20-minute retrospective by William Shatner himself, looking back over the last 30-years since he played the legendary character, and his aspirations for the future of Captain Kirk as the franchise approaches the 60-year mark. The full experience with all related extra content is available in its entirety in Digital Cinema 4k HDR and spatial video, exclusively mastered at peak fidelity for viewing on Apple Vision Pro.

Iconic characters from classic Star Trek history were brought to life through the live action performances of a talented cast, led by veteran TV and film star Sam Witwer as James T. Kirk, with Lawrence Selleck as Spock. Witwer and Selleck were filmed in costume, performing as Kirk and Spock on set, aided by both physical and digital prosthetics resulting in period-accurate portrayals matching the appearance of the characters as they originally appeared in TV and Film at the time.

William Shatner and Susan Bay Nimoy, widow of the late Leonard Nimoy, served as executive producers on the production.

Mr. Shatner worked with the OTOY team to fine tune the technical and creative direction required to bring his interpretation of Kirk back to live action for the first time in 30 years, including the addition of his voice to narrate a key moment in the experience.

Describing ‘765874: Unification’ and OTOY’s digital prosthetic technology used to revisit Star Trek history, William Shatner said it “takes years off of your face, so that in a film you can look 10, 20, 30, 50 years younger than you are.” Mr. Shatner surprised fans yesterday when he shared the first private screening of the video at the Star Trek tour in Ticonderoga, New York.

‘765874: Unification’ was directed by Award Winning Spanish filmmaker Carlos Baena, from a story by Jules Urbach, and features original music by Academy-award winning Star Trek composer Michael Giacchino.

The 8-minute video connects multiple decades of Star Trek lore, with nods to Robin Curtis’ portrayal of Saavik (1984’s Star Trek III: The Search for Spock), J.M. Colt (from the 1964 Cage pilot) played by actress Mahé Thaissa and Gary Mitchell, Kirk’s friend from the second Star Trek pilot episode, “Where No Man Has Gone Before” performed by original actor Gary Lockwood. 

For post-production and special effects work, skilled artists from OTOY and partner VFX studios combined digital and physical prosthetics with live action location photography, virtual production, and beautiful CG set extensions to deliver feature-film quality visuals. Major scenes in “Unification” were filmed twice, ensuring coverage to create video and spatial content mastered for Apple Vision Pro. All outdoor filming locations were scanned in and merged with CG set extensions, becoming part of The Archive’s growing library of 3D worlds and locations.

Emmy-award winning visual effects supervisor Mark Spatny led OTOY’s international team of artists and animators, including visual effects artists Neil Smith, JJ Palomo, and Aaron Westwood.

Visual effects in ‘Unification’ were created using OTOY’s Octane® rendering software and the Render Network® decentralized GPU rendering platform. Characters and props were digitized using OTOY’s Academy-Award winning LightStage™ scanning system.

About The Archive

The Archive is a multi-decade endeavor between OTOY and The Roddenberry Estate, in collaboration with Paramount Game Studios, to catalog key texts and documents from Gene Roddenberry’s life and career using immersive technologies. With a mission to canonically memorialize reference 3D models of the Starship Enterprise – including studio models as filmed on set and life-size 1:1 scale ‘in Universe’ versions – The Archive aims to preserve iconic worlds from the Gene Roddenberry era of Star Trek for future generations to experience in new immersive spatial formats like Apple Vision Pro.

As part of The Archive, OTOY has leveraged advancements in virtual production technology and frontier digital workflows pioneered by OTOY to recreate key pieces in Star Trek history in 1:1 life-sized virtual sets.

The Archive’s virtual production and digital makeup technology are used to create documentary shorts and immersive spatial experiences for the Apple Vision Pro. The documentary videos are overseen by Roger Lay, Mike and Denise Okuda, and feature Star Trek luminaries such as William Shatner, George Takei, Walter Koenig, director Robert Butler, Terry Matalas, Robin Curtis, Gary Lockwood, writer David Gerrold, production designer Dave Blass, and stunt performer Sandra Lee Gimpel.

The Archive can be explored as a native immersive spatial experience for Apple Vision Pro, available on the App Store. A limited version of The Archive is currently available in two-dimensional format on the web. 

Recent short documentary videos produced for The Archive app experience include:

The Roddenberry Archive: Behind the ScenesThe Roddenberry Archive: The CageThe Roddenberry Archive: The Next Generation (Returns)The Roddenberry Archive: William ShatnerThe Roddenberry Archive: Walter KoenigThe Roddenberry Archive: Return to Tomorrow (with “Q”)The Roddenberry Archive: Deep Space NineThe Roddenberry Archive: David Gerrold (Part 1) | (Part 2)The Roddenberry Archive: All the Enterprises – A to Z

Star Trek intellectual property is used under a license with Paramount.

About OTOY Inc.

OTOY Inc. is the definitive cloud graphics company, pioneering technology that is redefining content creation and delivery for media and entertainment organizations around the world. OTOY’s Academy Award®-winning technology is used by leading visual effects studios, artists, animators, designers, architects, and engineers, providing unprecedented creative freedom, new levels of realism, and new economics in content creation and distribution powered by the cloud. For more information, visit www.otoy.com.

Additional Resources:

Follow The Roddenberry Archive on X.Follow OTOY on Facebook and X.Read more about The Render Network here.

About Paramount Consumer Products 

Paramount Consumer Products oversees all licensing and merchandising for Paramount (Nasdaq: PARA, PARAA), a leading global media and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, Paramount Consumer Products’ portfolio includes a diverse slate of brands and content from BET, CBS (including CBS Studios and CBS Television Distribution), Comedy Central, MTV, Nickelodeon, Paramount Pictures and SHOWTIME®. With properties spanning animation, live-action, preschool, youth and adult, Paramount Consumer Products is committed to creating the highest quality product for some of the world’s most beloved, iconic franchises. To view our range of consumer products and Paramount branded apparel, visit ParamountShop.com.

 

 

 

 

 

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SOURCE OTOY Inc.

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Technology

BeaverLab Tech Unveils Darwin MX Pro Microscope: Share the Micro World in Real-Time with a Stunning Touchscreen and Wi-Fi Connectivity

Published

2 minutes ago

on

November 19, 2024

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Launching on Kickstarter November 26 with Super Early Bird Prices, Early Bird Discounts, and Exclusive Gift Add-Ons for Preferred Customers – Discover the Micro World with Darwin MX Pro’s 2200x Magnification, Real-Time Sharing, and 9″ Touchscreen.

BOULDER, Colo., Nov. 18, 2024 /PRNewswire/ — BeaverLab, an innovative leader in digital display and enhanced visualization, proudly announces the Darwin MX Pro Microscope. With the Darwin MX Pro, fans of everything tiny can unlock the secrets of the micro world. The microscope connects via Wi-Fi to project observations on smart TVs, enabling users to observe, measure, and record all microscopy tasks seamlessly on one screen. To fund the microscope’s production, BeaverLab is launching the Darwin MX Pro on Kickstarter on November 26, with exclusive super early bird pricing, early bird discounts, and gift add-ons for backers.

A Lab-Grade Desktop Microscope

The Darwin MX Pro Microscope is a lab-grade desktop microscope. It is perfect for exploring micro-life with children, among many use cases. Its screen supports touch operation, allowing users to record observations in real time, store photos, and capture live videos. This functionality greatly simplifies the workflow. The microscope is also equipped with anti-collision soft pads that reduce accidental damage and improve durability.

Efficient Real-Time Surveying and Mapping

With the MX Pro’s real-time surveying and mapping tools, users can efficiently process specimen images. Its mouse control function enables flexible, comfortable handling, while integrated tools offer automatic measurement, calibration adjustments, and binarization, isolating backgrounds for clearer imaging. Additional features like relief and reverse color enhance depth, three-dimensionality, and contrast for detailed visualization.

Every Detail Comes to Life

Offering up to 2200x magnification, the Darwin MX Pro brings every micro-detail to life with lab-grade clarity and intuitive controls. The product’s groundbreaking RGB light staining function, which uses a non-polluting illumination method to help visualize cellular components and structures while preserving specimen integrity. “The Darwin MX Pro enables you to explore the delicate veins of a leaf, observe microbial movement, and study mineral patterns—all in real time,” added the spokesperson.

Enabling the Spirit of Discovery

“The Darwin MX Pro ignites the spirit of discovery for science enthusiasts,” the spokesperson noted.  “From tiny organisms to intricate cell structures, it transforms each observation into a shared experience. Users can capture, edit, and share findings directly from their device, fostering collaboration beyond solo viewing.”

“The Darwin MX Pro not only offers professional-grade magnification but also frees your hands and supports a natural posture, making it perfect for teaching, research, or pure curiosity,” said the spokesperson. “The large 9″ foldable IPS touchscreen reduces eye strain, offering a comfortable and engaging viewing experience for long sessions.”

Darwin MX Pro Specifications

The Darwin MX Pro is equipped with a high-resolution 9-inch touchscreen display (1024 x 600, 24-bit color), ensuring vibrant visuals and precise image detail. Powered by Android 10, it offers 8GB of internal storage for effortless saving and exporting of images and videos. Its advanced X-Y axis precision adjustment system pairs seamlessly with a smooth focusing mechanism, enabling users to locate samples with ease and accuracy. The intuitive interface is designed for extended use, delivering a comfortable and user-friendly experience, even during long observation sessions.

Learn More About Darwin MX Pro on Kickstarter

Explore the Darwin MX Pro and support its production on Kickstarter today. Don’t miss the chance to secure super early bird pricing and exclusive gifts by becoming a backer!

About Beaver Technology (Shenzhen) Co., Ltd

BEAVERLAB is a leading innovator in the design and manufacturing of practical and portable digital microscopes and telescopes. The product range includes the Darwin series digital microscopes and the Finder series digital telescope. Find more information about BEAVERLAB.

https://beaverlabtech.com/

Press Contact:

Livy Li
17279714152
https://www.beaverlabtech.com/

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SOURCE Beaver Technology (Shenzhen) Co., Ltd

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