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Green Ammonia Market to Grow by USD 3.21 Billion (2024-2028) Green Ammonia Introduction Boosts Growth, Report on AI-Driven Market Transformation – Technavio

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NEW YORK, Nov. 26, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global green ammonia market size is estimated to grow by USD 3.21 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  113.07%  during the forecast period. Introduction of green ammonia is driving market growth, with a trend towards increasing investments boosting market growth. However, high cost of green hydrogen  poses a challenge.Key market players include AquaHydrex Inc., BASF SE, CF Industries Holdings Inc., Cummins Inc., Enapter S.r.l., ENGIE SA, Greenfield Nitrogen LLC, Hiringa Energy Ltd., ITM Power PLC, MAIRE S.p.A., MAN Energy Solutions SE, McPhy Energy SA, Nel ASA, OCI NV, Siemens AG, Starfire Energy, thyssenkrupp AG, Topsoes AS, Uniper SE, and Yara International ASA.

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Green Ammonia Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 113.07%

Market growth 2024-2028

USD 3209.7 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

85.16

Regional analysis

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

Performing market contribution

Europe at 37%

Key countries

US, Germany, China, Russia, and Australia

Key companies profiled

AquaHydrex Inc., BASF SE, CF Industries Holdings Inc., Cummins Inc., Enapter S.r.l., ENGIE SA, Greenfield Nitrogen LLC, Hiringa Energy Ltd., ITM Power PLC, MAIRE S.p.A., MAN Energy Solutions SE, McPhy Energy SA, Nel ASA, OCI NV, Siemens AG, Starfire Energy, thyssenkrupp AG, Topsoes AS, Uniper SE, and Yara International ASA

Market Driver

The Green Ammonia market is experiencing significant growth as businesses and governments prioritize carbon neutrality and ecological footprint reduction. Green Ammonia, a hydrogen carrier and energy storage solution, is an emission-free alternative to traditional fuels like natural gas in various industries. Its use as a transportation fuel, maritime fuel, and industrial feedstock is on the rise, contributing to decarbonization efforts. Electrolyzer technology, specifically Alkaline Water Electrolysis, is a key driver in the production of Green Ammonia. This clean energy source is also used in power generation, agriculture, and as eco-friendly fertilizers, reducing greenhouse gas emissions and environmental impact. Green Ammonia projects are gaining traction as renewable energy sources become more accessible. The transportation industry, including shipping and refrigeration transportation, is transitioning to this resourceful fuel to meet emissions regulations and improve air quality. Manufacturing facilities are also adopting Green Ammonia for its low carbon emissions, replacing natural gas dependency and reducing environmental hazards. This versatile commodity chemical is also used in fertilizer production, contributing to sustainable agriculture. Fuel cells, gas turbines, and internal combustion engines can utilize Green Ammonia as a fuel, providing a viable alternative to traditional fuels in power generation and industrial processes. Overall, the Green Ammonia market is a significant step towards environmental sustainability and the future of clean energy. 

The global green ammonia market is witnessing significant growth due to increasing research and development activities. Notably, the European Union’s Energy Technology Development and Demonstration Program (EUDP) is financing a major green ammonia project led by Skovgaard Invest, Vestas, and Haldor Topsoe. This project involves constructing a 10 MW green ammonia plant, directly linked to local wind and solar power generation, with an investment of USD11.9 billion. Furthermore, in August 2022, Carlyle and GIC, two global investment firms, announced a strategic investment in Eneus, a green ammonia project development company, to support the development of a 14GW+ green ammonia pipeline. In addition, renewable energy firm ACME Group plans to invest USD6 billion in green ammonia production. These developments underscore the growing industry momentum towards sustainable ammonia production. 

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Market Challenges

Green Ammonia is an eco-friendly alternative to traditional fossil fuels, gaining significant attention due to its role in achieving carbon neutrality and reducing ecological footprint. As a hydrogen carrier and energy storage solution, it offers potential as a transportation fuel, industrial feedstock, and maritime fuel. However, challenges exist in decarbonizing ammonia production through renewable energy sources, such as wind and solar, due to emissions from electrolyzer technology like alkaline water electrolysis. Green Ammonia’s production from renewable energy sources can help reduce greenhouse gas emissions, contributing to environmental sustainability in power generation, agriculture, and manufacturing facilities. In the transportation industry, it can replace natural gas dependency as an emission-free fuel for gas turbines, internal combustion engines, and industrial furnaces, as well as in fuel cells for electric vehicles. Moreover, green ammonia can serve as a sustainable alternative to traditional fertilizers, reducing the environmental impact of agriculture and contributing to cleaner air quality. With increasing emissions regulations, green ammonia projects can help industries transition to clean energy and low carbon emissions, making it a valuable commodity chemical for various industries. However, challenges remain in addressing environmental hazards and ensuring the safety and efficiency of green ammonia production and transportation.Green hydrogen, produced through renewable energy sources, has a higher initial cost compared to gray hydrogen due to the high fixed costs of setting up a production plant. On average, green hydrogen costs around 2-3 times more than gray hydrogen. Fuel cells used with green hydrogen are approximately 1.5 to 2 times more expensive than their fossil fuel counterparts. As a synthetic fuel, green hydrogen costs nearly 5-7 times more than fossil jet fuel. According to The Energy and Resources Institute (TERI), the production cost of green hydrogen is approximately USD5USD6 per kg. At this rate, green hydrogen is not economically feasible for industries such as steel, fertilizer, and long-range shipping to adopt as a fuel source.

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Segment Overview 

This green ammonia market report extensively covers market segmentation by  

Application 1.1 Power generation1.2 Transportation1.3 Industrial feedstock1.4 OthersTechnology 2.1 Alkaline water electrolysis2.2 Proton exchange membrane2.3 Solid oxide electrolysisGeography 3.1 Europe3.2 North America3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Power generation-  The global population growth and urbanization, particularly in developing regions like India and China, are driving the demand for electricity. This trend is compelling governments worldwide to secure a reliable electricity supply to attract investment in the power generation sector. The expanding urban population will continue to fuel the demand for power generation, making it a significant market growth factor during the forecast period.

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Research Analysis

The Green Ammonia market is experiencing significant growth as the world shifts towards renewable energy sources and carbon neutrality. Ammonia, a commodity chemical produced from nitrogen and hydrogen, is increasingly being recognized as a resourceful fuel and hydrogen carrier with minimal greenhouse gas emissions during combustion. Renewable energy sources such as wind and solar power are used to produce green ammonia through electrolysis, reducing its ecological footprint. Green ammonia is gaining popularity as a transportation fuel, particularly in shipping and marine industries, due to its high energy density and ability to store energy for long periods. It is also used as an eco-friendly fertilizer, reducing the need for traditional fertilizers with high carbon emissions. Gas turbines, internal combustion engines, and industrial furnaces can be fueled with green ammonia, leading to significant reductions in air quality emissions. The use of green ammonia in power generation and as a hydrogen carrier for energy storage is also on the rise. Emissions regulations continue to drive the demand for green ammonia as countries strive for environmental sustainability. Alkaline water electrolysis technology is a cost-effective method for producing green ammonia, making it an attractive alternative to conventional ammonia. Green ammonia is a valuable commodity chemical with numerous applications, including in the production of eco-friendly fertilizers, as a shipping fuel, and as a fuel for power generation and industrial processes. Its ability to store energy and reduce greenhouse gas emissions makes it an essential component of a sustainable energy future.

Market Research Overview

Green Ammonia is an eco-friendly alternative to traditional ammonia, produced using renewable energy sources instead of fossil fuels. It is a hydrogen carrier and energy storage solution, playing a crucial role in decarbonization efforts across various industries. Green Ammonia contributes to carbon neutrality by reducing greenhouse gas emissions, particularly in power generation, transportation fuel, and industrial feedstock applications. Its production process, using electrolyzer technology like alkaline water electrolysis, results in zero carbon emissions and improved air quality. Green Ammonia is also a sustainable solution for agriculture as eco-friendly fertilizers, replacing traditional nitrogen-based fertilizers with lower environmental impact. In transportation, it serves as a clean energy source for gas turbines, internal combustion engines, and fuel cells in ships and trucks, reducing the maritime and transportation industry’s carbon footprint. Green Ammonia projects are essential for the transition to a renewable energy-driven economy, promoting environmental sustainability and reducing reliance on natural gas dependency.

Table of Contents:

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

ApplicationPower GenerationTransportationIndustrial FeedstockOthersTechnologyAlkaline Water ElectrolysisProton Exchange MembraneSolid Oxide ElectrolysisGeographyEuropeNorth AmericaAPACSouth 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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PDRL Partners with Digital Quantum to Accelerate AeroMegh GeoAI’s Digital Transformation in Drone Technology

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PDRL and Digital Quantum Unite to Drive Innovation and Expand the AeroMegh GeoAI Ecosystem

NASHIK, India, Nov. 27, 2024 /PRNewswire/ — PDRL, a leader in drone technology solutions, is thrilled to announce its partnership with Digital Quantum, a global technology consulting firm specializing in digital transformation. This strategic collaboration is set to enhance the capabilities of PDRL’s AeroMegh GeoAI platform, delivering next-generation digital solutions to a wider audience in the rapidly expanding drone industry.

About Indian GIS Industry 2024

The Indian Geographic Information System (GIS) industry in 2024 is experiencing substantial growth, fuelled by advancements in digital transformation and the increased adoption of drone and satellite technologies across sectors like agriculture, urban planning, infrastructure, and disaster management. Government initiatives, including the Digital India program, Smart Cities Mission, and the Geospatial Data Policy, have strengthened the GIS ecosystem, encouraging both innovation and cross-sector adoption of GIS-driven solutions. As cloud-based, AI-driven, and real-time GIS solutions become more prominent, the industry is evolving to support accurate, on-demand data and dynamic decision-making. Partnerships, such as that of PDRL and Digital Quantum, are pivotal in driving this growth by bringing advanced technology and streamlined data capabilities to the forefront.

About AeroMegh, A GeoAI Platform

AeroMegh combines pioneering AI and GIS technologies to enhance drone operations, geospatial intelligence, and data analytics. Its capabilities include comprehensive GIS features for data processing, importing, and workflow integration through APIs, allowing users to efficiently manage geospatial data and generate actionable insights. The platform’s AI-powered features deliver advanced image and video analytics, automating processes such as object detection and annotation to streamline aerial data analysis. AeroMegh also supports LiDAR integration and photogrammetry for high-precision mapping and 3D modeling, enabling applications in agriculture, construction, and urban planning. Collaboration features, including role-based access and real-time interaction, ensure seamless teamwork and data sharing, making it ideal for industries seeking unified solutions for drone missions and geospatial intelligence.

Driving Digital Transformation with AeroMegh GeoAI

Digital Quantum, renowned for its expertise in technology integration and digital transformation, enables organizations to adopt innovative, experience-led solutions for enhanced operational efficiency and growth. Through this partnership, AeroMegh GeoAI, a comprehensive platform for drone operations, data processing, and analytics will leverage Digital Quantum’s customer-centric design and advanced digital solutions. Together, they aim to streamline drone operations and data analytics across diverse industries such as agriculture, infrastructure, mining and more.

Digital Quantum’s unique approach combines design thinking with advanced technologies to deliver scalable, customer-centered solutions that will empower AeroMegh GeoAI to meet the evolving needs of India’s booming GIS industry. By utilizing Digital Quantum’s capabilities, AeroMegh GeoAI is set to expand its reach, enabling organizations to fully harness the potential of drone technology for accurate, data-driven decision-making.

Meeting the Needs of India’s Evolving GIS Landscape

In an era where GIS technology is reshaping industries, this partnership will enable AeroMegh GeoAI to evolve continuously, aligning with the dynamic demands of the GIS and drone technology sectors in India. With PDRL and Digital Quantum working together, the AeroMegh GeoAI ecosystem is poised to provide accessible, impactful digital transformation for businesses across sectors.

Anil Chandaliya, CEO, PDRL: “Our partnership with Digital Quantum comes at a pivotal moment in India’s GIS industry, where digital transformation and drone technology are rapidly converging. Together, we aim to drive innovation in AeroMegh GeoAI, empowering industries with groundbreaking capabilities.”

Amitabh Shukla, CEO, Digital Quantum: “We are excited to partner with PDRL and support AeroMegh GeoAI in advancing India’s GIS landscape. Our expertise in digital innovation and customer-focused solutions aligns perfectly with PDRL’s vision, and we look forward to redefining the drone technology landscape together.”

By joining forces, PDRL and Digital Quantum are poised to reshape the GIS and drone technology landscape, positioning AeroMegh GeoAI at the forefront of digital transformation and empowering industries across India to embrace a future of data-driven innovation and precision.

About PDRL:

Established in 2018, PDRL has swiftly risen as a dominant force in the Drone Technology, commanding a market share exceeding 50%. With three patents secured and three more in the pipeline, PDRL is committed to pioneering advancements that Create More Time to Live.

Central to PDRL’s mission is the development of cutting-edge drone technologies that streamline operations, boost efficiencies, and create more time to live.

At the heart of PDRL’s innovation is AeroMegh, a revolutionary drone SaaS solution integrating flight management, data capture, processing, and analytics. AeroMegh consists of: AeroGCS: Ensures seamless flight operations, AeroMegh GeoAI platform: Delivers precise photogrammetry solutions and provides advanced GeoAI data analytics. Together, these products empower users with actionable insights, simplifying drone operations and enhancing overall efficiency.

PDRL remains steadfast in its commitment to sustainability and responsible innovation. By leveraging eco-friendly drone solutions, PDRL aims to mitigate carbon footprints and promote environmentally conscious practices across various sectors.

Through continuous research and development, strategic partnerships, and unwavering customer focus, PDRL envisions leadership in the market and also a future defined by efficiency, sustainability, and enduring societal impact.

Contact Details: 
marketing@pdrl.in | +91-7770013322

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Science Meets Romance: Chemical Engineer Caryn Davis is Flipping the Script and Helping People Find Their Ultimate Chemistry

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Caryn Davis, founder of Exquisite Elite Matchmaking, blends science, expertise, and a personal touch to help busy professionals find lasting love and connection.

HOUSTON, Nov. 26, 2024 /PRNewswire/ — In a world where the complexities of love often rival the intricacies of science, one woman is bringing precision and expertise to the realm of relationships. Caryn Davis, a chemical engineer turned Certified Science-Based Dating Coach and Matchmaker, is using her personal experiences to redefine modern dating.

As the founder of Exquisite Elite Matchmaking, Davis blends her certified training, of what keeps couples together and what breaks them a part, along with a personal touch to help busy professionals find meaningful, long-term relationships. Drawing from her background in chemical engineering and an MBA, she uniquely combines logic and intuition to match clients based on physical attraction (i.e., no blind dates), compatibility, shared values, and relationship goals. Davis relates to her clients in the dating world because she knows what it feels like to be single, married, and divorced. Recognizing the challenges professionals face in finding genuine connections amidst hectic schedules, she decided to create a solution in a stress-free and relaxing manner. That solution became Exquisite Elite Matchmaking, a bespoke service that caters to men from their late 20s to mid 60s primarily in Texas (plans to expand in other states in the future) and offers date coaching to women nationwide.

Empowering BUSY Professionals Through Connection

Beyond the personal impact of her work, Davis is committed to helping BUSY professionals build meaningful relationships. Her approach focuses on addressing the unique challenges they face in dating, ensuring they find partners who complement their goals and values. Davis emphasizes that dating is an opportunity for individuals to grow, connect, and build a foundation for lasting happiness. She acknowledges that while BUSY professionals often excel in their careers, they may struggle to prioritize love, and she helps them bridge that gap with tailored strategies and guidance.

She understands her client’s needs, so she can find partners who genuinely complement them. Her holistic process includes personalized assessments, coaching sessions, and image consultations. As a licensed cosmetologist, she ensures her male and female clients present themselves in their best light. Although her background is in a STEM profession, her clientele have various professional backgrounds, approximately 40% STEM Professionals and 60% Business, Non-Profits, Education, Entrepreneurship, etc.

Exquisite Elite Matchmaking: A Cut Above the Rest

Exquisite Elite Matchmaking is more than just a matchmaking service; it’s a transformative experience. Davis takes pride in tailoring her services to each client’s unique needs, offering:

Personalized Matches: Based on physical attraction, compatibility, values, and goals.Date Coaching: Strategies to improve communication, self-growth, and connection.Image Consulting: Style tips to make lasting impressions.

This approach has earned Davis a reputation as a leader in modern matchmaking, providing a fresh, results-driven perspective on relationships.

Looking to the Future

As the holiday season approaches, Davis is dedicated to helping clients embrace love as a priority. Her matchmaking process inspires hope for those seeking genuine, lasting relationships by providing practical tools and a personalized approach. Drawing from her background as a chemical engineer, Davis applies her problem-solving mindset to help individuals find happiness in their personal lives. Her unique formula for success continues to pave the way for meaningful connections and enduring relationships.

For media inquiries, or to schedule an interview with Caryn Davis—please contact Innovating Marketing Group at info@innovatingmarketinggroup.com or call 346-980-9062.

About Exquisite Elite Matchmaking

Caryn Davis is the founder of Exquisite Elite Matchmaking, a Certified Science-Based Dating Coach, and Matchmaker. With a background in chemical engineering and an MBA, Davis blends her professional expertise with personal experience to help clients find meaningful relationships. Her work for her clients emphasizes compatibility and personal growth.

Press Contact:

LaToya F Hurley
3469809062
http://www.InnovatingMarketingGroup.com

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JOYY Reports Net Profit of US$60.6 Million, Share Buybacks Surpass US$117.8 Million in Q3

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SINGAPORE, Nov. 26, 2024 /PRNewswire/ — JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company”), a global leading technology company, announced its unaudited financial results for the third quarter of 2024.

For the third quarter, JOYY’s revenue reached US$558.7 million, while the Company’s core business segment, BIGO, generated revenues of US$496.0 million. JOYY’s GAAP and non-GAAP operating income[1] were US$16.4 million and US$34.9 million, respectively, up by 623.5% and 16.4% on a quarterly basis. JOYY recorded a net profit and non-GAAP net profit[1] of US$60.6 million and US$61.2 million, for a GAAP and non-GAAP net margin[1] of 10.8% and 10.9%, respectively. BIGO’s GAAP and non-GAAP operating income[1] reached US$62.7 million and US$72.9 million, respectively, marking sequential increases of 8.2% and 5.0%. The Company sustained its positive operating cash flows, generating US$61.1 million in the third quarter.

During the third quarter, JOYY actively advanced shareholder returns by buying back an additional US$117.8 million worth of its shares. During the first three quarters of 2024, the Company has repurchased 7.31 million of its ADSs for a total of US$243.7 million, demonstrating confidence in the company’s long-term prospects.

Ms. Ting Li, Chairperson and Chief Executive Officer of JOYY, commented, “We continued to execute effectively on our strategic priorities during the third quarter, cultivating our global social and content ecosystem, and enhancing our global operational capabilities and efficiencies, which yielded solid results. Our group’s GAAP and non-GAAP operating income were US$16.4 million and US$34.9 million, respectively, up by 623.5% and 16.4% on a quarterly basis. During the third quarter, we continued to cultivate long-term initiatives that will further diversify our revenue streams. Our Group non-livestreaming revenue grew by 13.1% to US$119.2 million quarter over quarter, contributing 21.3% of total revenues. Looking ahead, we remain focused on enhancing user experiences through product innovation, further diversifying our revenue streams, and advancing operational excellence across our global footprint. Supported by our strong cash flow and healthy financial position, we are well-positioned to deliver sustainable, profitable growth and create enduring value for our shareholders.”

Third Quarter 2024 Financial Highlights

Net revenues in the third quarter of 2024 were US$558.7 million.Net income attributable to controlling interest of JOYY was US$60.6 million in the third quarter.Non-GAAP net income[1] attributable to controlling interest and common shareholders of JOYY was US$61.2 million in the third quarter.

Third Quarter 2024 Business Highlights

In the third quarter, Bigo Live sharpened its operational strategy by prioritizing advertising investments and operational resources toward developed countries and premium users, and simultaneously enhanced its content quality and social experiences to drive long-term user monetization potential. This targeted approach yielded strong results in core developed countries, where MAUs grew 3.4% year over year and 3.7% quarter over quarter, and paying users increased 9.1% year over year. Bigo Live also achieved encouraging momentum in the Middle East, where its revenue increased 5.6% sequentially.

To further enhance its global content and social ecosystem, Bigo Live implemented a series of upgrades to boost the creation, quality, and distribution of content on its platform. For example, Bigo Live fine-tuned its content recommendation algorithms to better facilitate content sharing within same-language regions and expand cross-regional content flow between highly interactive markets. These enhancements streamlined its cross-regional content delivery and better served users’ growing appetite for global content and social connections.

In the last quarter, Bigo Live successfully hosted the third season of “BIGO’s Most Talented”, featuring categories in Music, Dance and Beauty Pageantry. The event attracted outstanding creators from around the world. Building on previous seasons, the third season introduced a more rounded judging system incorporating key audience engagement metrics. This allowed a seamless merger of interactive livestreaming elements with traditional talent show elements. The event resonated strongly with viewers, amassing an impressive 5.79 million audience votes. Bigo Live also strengthened bonds with its business partners and user community through a series of mid-year galas across Saudi Arabia, Vietnam, Thailand, and the Philippines. These gatherings brought together the cornerstone members of Bigo Live’s ecosystem – top creators, users and partners – to celebrate their achievements and vital contributions to the platform’s progress in the first half of the year.

Bigo Live also further developed its social engagement features, prioritizing improvements to Real Match and messaging functionality. These upgrades drove deeper user connections and more efficient follow conversions. Notably, Real Match’s average DAU penetration rate increased significantly to 23.4%, while the number of direct chat messages rose by 15.9% from the previous quarter. Bigo Live also achieved a 4.3% rise in average new follows per user. By directing traffic to premium hosts and upgrading interactive features, Bigo Live boosted creator participation and user engagement in multi-guest rooms. Bigo Live achieved a 3.9% sequential increase in the penetration rate of streamers in multi-guest rooms, alongside a 3.6% sequential increase in the overall rate of users going live as guest speakers.

Likee remains rooted in the Middle East and European markets, where it continues to build momentum and enhance monetization across both livestreaming and advertising. As a result, Likee’s advertising revenue grew 33.4% year over year in the third quarter, and Likee maintained its profitability.

During the quarter, Likee elevated its user experience across its core markets through enhanced content quality, interactivity, and community engagement. A standout community-building initiative was its August music festival tour across five European cities, which brought together Likee’s top creators, including music bloggers and dance groups, alongside established performers and celebrities. This unique event delivered an unprecedented interactive experience for the Likee community. In September, Likee served as the official media partner for Phygital Games 2024, providing eight days of livestreaming coverage to immerse users in the competitive prowess of top athletes in digital football, basketball, laser shooting, and simulated dance. Likee’s expanded premium content offerings and content diversity drove a 12.3% quarter-over-quarter increase in users’ video time spent.

In the third quarter, Hago’s targeted incentive strategy across different paying user segments drove improved monetization metrics. This strategy resulted in positive momentum in both its paying users and ARPPU, with its revenue growing 6.1% quarter over quarter. Hago maintained a positive operating cash flow in the third quarter, and its operating losses further narrowed. Hago’s social engagement metrics also remained strong, with average time spent in social channels increasing 2.5% quarter over quarter to 105.8 minutes, and next-day retention rates showing sustained improvement.

[1]. For details of the non-GAAP measures, including the reconciliations of GAAP measures to non-GAAP measures, please refer to the press release titled “JOYY Reports Third Quarter 2024 Unaudited Financial Results” issued by the Company on November 27, 2024.

 

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