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Squirrel Ai CEO Wei Zhou Showcases Innovative AI Education Tools at WAIC 2024

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SHANGHAI, Oct. 21, 2024 /PRNewswire/ — The World AI Conference & High-Level Meeting on Global AI Governance 2024 (WAIC 2024) recently convened in Shanghai, accelerating the advancement of a new wave of AI technology and driving the enhancement of the sector’s global architecture. The event was co-hosted by the Ministry of Foreign Affairs, the National Development and Reform Commission, the Ministry of Education, the Ministry of Science and Technology, the Ministry of Industry and Information Technology, the Cyberspace Administration of China, the Chinese Academy of Sciences, the China Association for Science and Technology and the Shanghai Municipal People’s Government.

This year’s conference, themed “Governing AI for Good and for All,” welcomed 1,300 global leaders, exhibitors, and groups from over 50 countries and regions. They included nine recipients of the Turing Award, Fields Medal, and Nobel Prize, as well as 88 distinguished academics from some of the world’s leading universities and research institutions. During the event, participants explored AI methodologies with the highest potential to significantly accelerate the development of groundbreaking and sustainable technologies.

Wei Zhou, co-founder and CEO of Squirrel Ai, was a key speaker at the session “Towards AGI: Large Models Renewal and Industrial Empowerment.” Zhou provided deep insights into the deployment of large-scale models across various industry landscapes, spotlighting significant technical breakthroughs and discussing potential avenues for leveraging these advancements to foster new models for quality-driven production across multiple sectors.

1. Harnessing Educational Innovation to Drive New Paradigms of Productivity

Since its launch in 2018, the World AI Conference (WAIC) has emerged as a cornerstone event in the global AI landscape, captivating stakeholders from multiple sectors. WAIC has become an essential arena for demonstrating and exchanging state-of-the-art AI technologies, with this year marking its most extensive participation yet. Over its six editions, the WAIC has invited numerous legendary leaders from around the globe to explore the future of the AI industry, including Tom M. Mitchell, the “godfather of machine learning”; Jürgen Schmidhuber, the “father of neural networks”; Andrew Ng, founder of Landing AI; Jack Ma, founder of Alibaba Group; and Elon Musk, co-founder of Tesla. This year’s WAIC centered on global governance, industrial development, and frontier science, with a particular emphasis on large models, computation, robotics, and autonomous driving. WAIC has consistently pushed the envelope on AI+ technologies, helping to transition the world of AI into a new era of development.

Notably, this year’s WAIC has boasted its largest participation to date. The conference featured not only internet industry giants such as Baidu, Alibaba, Tencent, Huawei, China Mobile, China Unicom, China Telecom, and Microsoft, but also numerous cutting-edge technology companies, with Squirrel Ai serving as a prime example. These participants showcased their innovative achievements in the field of large models and the diverse industrial forms of AI technology.

The development of large models is a crucial direction in AI, representing the forefront of current AI technology. The forum, themed “Boundless Model Power, Industrial Co-Governance,” focused on key topics such as edge intelligence, and the industrial application, security and governance of large models. It brought together top minds from institutions like Tsinghua University, Ant Group, and Zhongguancun Laboratory to collaboratively explore the paths to application of and innovation in large models.

In his keynote, “AI Reshaping the Future of Education,” Mr. Zhou, the Squirrel Ai CEO, discussed the transformative power of the company’s Large Adaptive Model (LAM), addressing the challenges and breakthroughs in large models. His vision for a reimagined educational system through AI underscored a shift towards personalized, technology-driven learning, showcasing Squirrel Ai’s commitment to pushing the boundaries of educational norms and offering a personalized learning experience to all students, no matter where they are in their knowledge and skills acquisition journey.

2. Revolutionizing Education through Technological Innovation

At the Conference, the release of the “2024 Collection of Exemplary Application Cases of Large Models” garnered significant attention. This casebook features the latest and most comprehensive practice cases of large model applications in China, examining select implementations in the manufacturing, healthcare, financial, legal, education, and agricultural sectors. The compendium evaluates breakthroughs based on criteria such as scenario adaptability, technological execution, and innovative impact, highlighting exemplars of real-world utility and transformative potential. Leveraging its new multi-modal adaptive engine and the Squirrel Ai Smart Instructor, Squirrel Ai has been featured in the casebook and received an award. The recognition showcases to various sectors the ideal trajectory of technological advancement and innovative achievements.

From universal concepts to practical applications, Squirrel Ai has consistently prioritized innovation as its driving force, focusing on core technology to facilitate transformation and make significant advances in AI-driven educational methodologies. With its multi-modal adaptive engine, Squirrel Ai has introduced a “new force” for personalized education. Following the Conference, Mr. Zhou and his peers in related industries engaged in further discussions on the innovative applications of large models. They explored future opportunities in new and emerging industries, forms, and models, seeking novel pathways for the advancement of both the AI and the educational technology sectors.

In response to a world where technology evolves at breakneck speed, Squirrel Ai has developed a strategic roadmap from innovation to implementation. The company leverages the continuous iteration of its large models as a key breakthrough to accelerate innovation in education. The approach not only addresses the final steps in deploying the Squirrel Ai Smart Instructor but also facilitates the integration of AI education into everyday life. As a result, large-scale, student-tailored education has become a viable possibility.

As the synergy between AI and education continues to foster new innovations, Squirrel Ai has become a major force in transforming education through its collaborative ecosystem within the technology sector. The initiative has positioned China as a leader in AI educational technology on the global stage, demonstrating the effectiveness of intelligent, adaptive learning systems that have captured the attention of educational communities worldwide. Throughout its development, Squirrel Ai has focused on creating AI-driven educational solutions that enhance productivity and incorporate a variety of technological approaches, establishing a foundation for future educational advancements. Looking ahead, the company is dedicated to further exploring the transformative potential of education through AI, with plans to develop a comprehensive framework that will further solidify China’s role in shaping an educational ecosystem powered by smart technology.

 

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SOURCE Squirrel Ai Learning

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Q2 FY25 Revenue from Operations at Rs. 2,304 Million; growth of 12.6% YoY

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October 28, 2024

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Q2 FY25 EBITDA at Rs. 296 Million; growth of 2.4% YoY

Q2 FY25 Revenue from MDF is Rs. 1,717 Million; growth of 14.7% YoY

AHMEDABAD, India, Oct. 28, 2024 /PRNewswire/ — Rushil Decor Limited (BSE: 533470) (NSE: RUSHIL), one of the leading suppliers of eco-friendly sustainable MDF Boards, Laminates and Plywood has announced its unaudited financial results for the quarter ended 30th September 2024.

Financial Performance for Q2 FY25:

₹ In Million

Q2 FY25

Q2 FY24

Y-o-Y

Q1 FY25

Q-o-Q

H1 FY25

H1 FY24

Y-o-Y

Revenue from Operations

2,304

2,046

12.6 %

2,251

2.4 %

4,555

3,974

14.6 %

Gross Profit

1,115

980

13.8 %

1,023

9.0 %

2,137

1,923

11.1 %

Gross Margin%

48.4 %

47.9 %

45.4 %

46.9 %

48.4 %

EBITDA*

296

289

2.4 %

257

15.3 %

553

578

(4.3) %

EBITDA Margin%

12.9 %

14.1 %

11.4 %

12.1 %

14.6 %

PBT*

154

138

11.9 %

166

(7.2) %

320

302

6.0 %

PBT Margin%

6.7 %

6.7 %

7.4 %

7.0 %

7.6 %

PAT

114

106

7.9 %

124

(8.1) %

238

227

4.6 %

PAT Margin%

4.9 %

5.2 %

5.5 %

5.2 %

5.7 %

*For the quarter Q2FY25, if we do not consider forex loss, EBITDA in terms of value would be ₹ 311 Million and PBT would be ₹ 183 Million EBITDA Margins would be 13.5% and PBT Margins would be 7.9%.

Division Revenue: 

₹ In Million

Q2 FY25

Q2 FY24

 Y-o-Y

Q1 FY25

Q-o-Q

H1 FY25

H1 FY24

 Y-o-Y

MDF Boards

1,717

1,497

14.7 %

1,692

1.5 %

3,409

2,964

15.0 %

Laminates

503

491

2.4 %

471

6.6 %

974

906

7.5 %

Other

84

58

44.8 %

88

(4.5) %

172

104

65.4 %

Total

2,304

2,046

12.6 %

2,251

2.4 %

4,555

3,974

14.6 %

 

Division Volume:

Q2 FY25

Q2 FY24

Y-o-Y

Q1 FY25

Q-o-Q

H1 FY25

H1 FY24

Y-o-Y

MDF Boards (CBM)

72,013

60,413

19.2 %

74,079

(2.8) %

1,46,092

1,19,502

22.2 %

Laminates (Sheet)

7,51,670

7,74,032

(2.9) %

7,64,682

(1.7) %

15,16,352

13,82,296

9.7 %

Business and operational Highlights for Q2 FY2025:

Net Debt to Shareholder Equity at 0.44xConsolidated Basic EPS of Q2 FY2025 is Rs. 0.42 and Diluted EPS is Rs. 0.38Added 105 new dealers and 65 new distributorsMDF Boards:Reported EBITDA of Rs. 226 million with an EBITDA margin of 13.2%Price realization for per CBM in export and India are Rs. 21,308 and Rs. 24,723Capacity utilization optimized at 88%54% revenue of MDF boards contributed by value-added productsLaminates:Reported EBITDA of Rs. 65 million with an EBITDA margin of 12.9%Price realization for per sheet in export and India are Rs. 701 and Rs. 626Capacity utilization for laminates was at 90%

Commenting on the performance Mr. Rushil Thakkar, Managing Director, said:

“In Q2 FY2025, Rushil Decor reported Revenues of Rs. 2,304 million representing a year-on-year growth of 12.6% and a growth in PAT of 7.9%. Improved realizations in our MDF boards export markets significantly contributed to our overall financial performance. The MDF division remained a key growth driver, with a revenue increase of 14.8%, and value-added products now accounting for 54% of total MDF boards revenue.

On the expansion front, our Jumbo Laminate project in Gandhinagar encountered temporary delays due to late machinery supply and heavy rainfall affecting installation. We anticipate operations to commence by the end of Q4 FY2025. Once operational, this facility is expected to produce an additional 2.8 million sheets annually, not only significantly enhancing our production capacity but allow us to enter the Jumbo sized market.

Expanding our international footprint, we have incorporated a wholly-owned subsidiary in Singapore focused on laminates to target the Southeast Asian market more effectively. This initiative is expected to drive revenue growth and improve margins in the region. Our participation in various European exhibitions this quarter has generated additional inquiries for our MDF products, presenting further growth opportunities in international markets.

A planned maintenance shutdown is scheduled at our Chikmagalur unit, which manufactures MDF boards. This routine procedure is conducted every 3 to 4 years to ensure operational efficiency, enhance product quality and sustain over 100% capacity utilization over the next three years.

During this quarter, we added 65 new distributors and 105 new dealers, further strengthening our market presence. Our commitment to sustainability remains unwavering, as demonstrated by our agroforestry initiatives, which enhance our raw material supply chain and contribute to local community development.

As the newly appointed Managing Director, I look forward to leading Rushil Decor through this growth phase, leveraging our management team’s capabilities and executing our strategic initiatives to deliver sustained value for all stakeholders.”

About Rushil Decor

Founded in 1993, Rushil Decor Limited is a globally leading company in modern interior infrastructure and eco-friendly composite wood panels. The company excels in setting industry benchmarks through innovative designs and advanced technology. Operating six cutting-edge manufacturing plants, Rushil Decor has an annual capacity of 3,30,000 CBM MDF and 3.49 million laminates, serving customers in over 54 countries. The company’s product range includes VIR Laminates, VIR MDF boards, VIR MAXPRO (HDFWR) boards, VIR Pre-laminated Decorative MDF/HDFWR boards, VIR Modala Ply, VIR PVC and VIR WPC boards/doors. 

Rushil Decor’s commitment to quality, design excellence and customer-centricity distinguishes it in the market. Driven automated plants, world class German technologies and global standards, Rushil Decor relentlessly creates smarter spaces. The company ensures optimal supply chain efficiencies and resource utilization. Strategic local plantations further enhance cost advantages in raw material sourcing, allowing Rushil Decor to meet global market demand effectively and sustainably.

For more details, please visit: www.rushil.com

Media Contact:
Hiren Padhya
Chief Financial Officer
Rushil Decor Limited
hiren.padhya@rushil.com

Churchgate Investor Relations:
Rajiv Pandya / Abhishek Dakoria 
Churchgate Partners
+91 22 6169 5988
rushil@churchgatepartners.com

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward- looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

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Elbit Systems Awarded Approximately $200 Million Contract by the Israeli MOD to Supply High-Power Laser for the “Iron Beam” Air Defense System

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52 mins ago

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October 28, 2024

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HAIFA, Israel, Oct. 28, 2024 /PRNewswire/ — Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) (“Elbit Systems” or the “Company”) announced today that it was awarded an approximately $200 million contract by the Israeli Ministry of Defense (IMOD) to supply high-power laser systems for the “Iron Beam” air defense system.

Under the contract, Elbit Systems will supply the IMOD, under the “Iron Beam” project, its high-power laser solution, developed by the Company to provide a robust defense against a variety of threats. Additionally, the contract includes ongoing support services.

Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems: “As Israel’s Laser Center and a global leader in high-power laser technology, Elbit Systems congratulates on the significant progress made in the “Iron Beam” project and is proud of its contribution to its success. The capabilities developed at Elbit Systems represent a leap forward in future defense against various threats.”

About Elbit Systems

Elbit Systems is a leading global defense technology company, delivering advanced solutions for a secure and safer world. Elbit Systems develops, manufactures, integrates and sustains a range of next-generation solutions across multiple domains.

Driven by its agile, collaborative culture, and leveraging Israel’s technology ecosystem, Elbit Systems enables customers to address rapidly evolving battlefield challenges and overcome threats.

Elbit Systems employs over 20,000 people in dozens of countries across five continents. The Company reported as of June 30, 2024, approximately $1.6 billion in revenues and an order backlog of approximately $21.1 billion.

For additional information, visit: https://elbitsystems.com, follow us on Twitter or visit our official Facebook, Youtube and LinkedIn Channels.

Company Contact:   
Dr. Yaacov (Kobi) Kagan, Executive VP – CFO
Tel:  +972-77-2946663
kobi.kagan@elbitsystems.com

Dr. David Ravia, Investor Relations
Tel: +972-77-2947169
david.ravia@elbitsystems.com

Dalia Bodinger, VP, Communication & Brand
Tel: 972-77-2947602
dalia.bodinger@elbitsystems.com

This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management’s current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company’s future financial results, its anticipated growth strategies and anticipated trends in its business.  Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States, among others, including the duration and scope of the current war in Israel, and the potential impact on our operations; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.’s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.

Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies.  All other brand, product, service and process names appearing are the trademarks of their respective holders.  Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.

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SOURCE Elbit Systems Ltd.

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Elwood and Boerse Stuttgart Digital Launch New Partnership to Enhance Digital Asset Trading

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52 mins ago

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October 28, 2024

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LONDON, Oct. 28, 2024 /PRNewswire/ — Elwood, a leading fintech that provides comprehensive digital asset trading and investing solutions to institutions, announced today that Boerse Stuttgart Digital will be using Elwood’s technology to enhance its digital asset offering. Boerse Stuttgart Digital is Europe’s leading infrastructure partner for digital and crypto solutions.

Boerse Stuttgart Group has built the largest crypto and digital asset business amongst European exchange groups with over 200 institutional clients, including leading banks, trading firms and asset managers. Through this partnership, institutional clients will gain access to digital asset markets by leveraging Elwood’s infrastructure solutions that provide a powerful and easy-to-use entry point to trading across key exchanges and liquidity venues.

Chris Lawn, CEO, Elwood, said: “We pride ourselves on providing market-leading digital asset trading and portfolio investing solutions to our clients and are excited to partner with Boerse Stuttgart Digital. We look forward to helping them provide their institutional clients with intuitive and efficient ways to pursue digital asset trading, portfolio management and investing.”

Dr. Ulli Spankowski, Managing Director Boerse Stuttgart Digital, added: “We are seeing the demand for digital assets grow exponentially across European markets and are excited to be working with Elwood to make it easier for our clients to access them. We share with Elwood a culture of compliance, safety, and regulatory readiness and are confident that this partnership will provide our clients with the technology they need to scale and adapt as this asset class continues to grow.”

To find out more about the Elwood platform, please visit: https://elwood.io/

About Elwood

Elwood is a leading fintech that provides comprehensive digital asset trading and investing solutions to institutions. Elwood’s powerful risk management capabilities and culture of compliance have driven solutions that are powerful, performant and built for safety, security and regulatory readiness. Supported 24/7 by a team of market structure and technology experts, Elwood clients can trade a wide range of markets and products today and be confident the technology will scale with them as they grow. For more information visit www.elwood.io

About Boerse Stuttgart Digital

Boerse Stuttgart Digital, powered by Boerse Stuttgart Group, is the reliable partner for integrated and customized solutions along the value chain of cryptocurrencies and digital assets in Europe. As part of the Boerse Stuttgart Group, with over 160 years of expertise in financial markets, Boerse Stuttgart Digital is fully regulated in Germany. As a one-stop-shop, it offers modular institutional infrastructure solutions around brokerage, trading, and custody of cryptocurrencies and digital assets, enabling financial institutions across Europe to provide their clients easy and reliable access to cryptocurrencies and digital assets. For more information, visit www.bsdigital.com.

Media Contact
Sam Raffalli
Forefront Communications for Elwood
elwood@forefrontcomms.com

Disclaimer: For investment professionals only. Not for retail.

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SOURCE Elwood Technologies

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