Artificial Intelligence
Meta Data Limited Reports First Half 2022 Unaudited Financial Results
BEIJING and SHANGHAI, China, Aug. 23, 2022 (GLOBE NEWSWIRE) — Meta Data Limited (NYSE: AIU) (“Meta Data” or the “Company”), today reported its unaudited financial results for the six months ended February 28, 2022.
First Half 2022 Highlights:
Net loss from continuing operations was RMB372.0 million (US$58.8 million), down by 7% year-over-year.
Net loss from discontinued operations was RMB742.9 million (US$116.2 million) compared to nil in the first half 2021.
Net loss attributable to common shareholders of Meta Data was RMB1,068.8 million (US$167.8 million), increased by 222% compared to net loss of RMB331.6 million (US$51.2 million) in the first half 2021.
After July 2021, the Chinese government issued a series of rules and regulations prohibiting the provision of after-school tutoring services. On July 24, 2021, the announcement of “Opinions on Further Alleviating the Burden of Homework and After-School Tutoring for Students in Compulsory Education” (“Double Reduction Policy”) was made by the General Office of the CPC Central Committee and the General Office of the State Council (the “Opinion”).
The Opinion contains guiding principles about requirements and restrictions related to after-school tutoring services, including: (i) service providers in After-School Tutoring (“AST”) services on academic subjects relating to compulsory education or academic AST institutions need to register as a non-profit entity; (ii) foreign ownership in academic AST institutions are prohibited, including through contractual arrangements; (iii) listed companies are prohibited from raising capital to invest in businesses that teach academic subjects in compulsory education; (iv) relevant tutoring services on academic subjects in compulsory education are not allowed during public holidays, weekends and school breaks; and (v) academic AST institutions must follow the fee standards to be established by relevant authorities. The Opinion also provides that institutions providing after-school tutoring services on academic subjects in high schools (which do not fall within China’s compulsory education system) shall take into consideration the Opinion when conducting activities.
In compliance with the opinion and applicable rules, regulations and measures, the Company actively discussed with regulatory authorities with regard to winding down of the suspended business, including the termination of leased office spaces and learning centers, and disposal of relevant leasehold improvements and electronic equipment. Most subsidiaries have closed their physical stores since October 2021, and the Company ceased its K-12 after-school and young children education services (“Legacy Business”). The compliance measures taken by the Company have adversely affected the Company’s results of operations.
The Company has carried out product iterations on its original business, shifting from education and training to education and technology, using the original channels to carry out quality education and technology output, including 5G technology, smart campus system, and virtual training systems based on the Metaverse. The Company’s new business is using the six core technologies of Metaverse and artificial intelligence blockchain network computing, interaction, game technology, and the Internet of Things as the Company’s core technologies, building a new type of blockchain smart student card and global smart employment quality educational virtual world (a new type of artificial intelligence employment training), a combination of virtual and real prediction world (digital education, risk prediction, computing power output), VR shopping world (new e-commerce) and other products to provide global customers with a new digital world experience.
The Company has recruited a global management team and a technology research and development team to develop new products and business directions that combine education and technology. On December 16, 2021, Metaverse Information Technology Limited was incorporated in BVI. On January 24, 2022, a wholly-owned subsidiary was established in Hong Kong. On January 11, 2022, Metaverse Digital Technology Co., Ltd. was set up in Wyoming, USA.
The new revenue streams included Smart Campus Service System-smart student ID card, smart training system based on smart training, and edge computing power output based on meta-universe computing power.
Due to the aforementioned, on July 11, 2022, the board of directors of the Company decided to divest the subsidiaries of OneSmart Education Inc. and search for potential purchasers of the Legacy Business.
| Key Financial Results (In Thousand /RMB) | First Half, 2022 |
First Half, 2021 |
Change In Amounts |
Change In Percentage |
||||||||||||
| Net revenues | – | 1,616,435 | (1,616,435 | ) | N/A | |||||||||||
| Gross profit | – | 597,481 | (597,481 | ) | N/A | |||||||||||
| Operating loss | (360,910 | ) | (273,885 | ) | (87,025 | ) | 32 | % | ||||||||
| Loss from continuing operations | (371,954 | ) | (347,995 | ) | (23,959 | ) | 7 | % | ||||||||
| Loss from discontinued operations | (742,879 | ) | – | (742,879 | ) | N/A | ||||||||||
| Net loss attributable to Meta Data | (1,114,833 | ) | (331,550 | ) | (783,283 | ) | 236 | % | ||||||||
| Net loss attributable to non-controlling interests | (45,987 | ) | (16,445 | ) | 29,542 | 180 | % | |||||||||
Financial Results for the First Half Year Ended February 28, 2022
Net Revenues
According to the “Double Reduction Policy” of the Chinese government, the Company ceased its Legacy Business from October 2021 and its business strategy was shifted to the Metaverse industry. The Legacy Business generated approximately RMB144.8 million (US$22.9 million) in revenue in the first half of 2022. Since the Metaverse business has just started, no related revenue has been generated in the first half of 2022, but as of July 2022, the revenue of the Metaverse business is RMB13.3 million (US$2.1 million) for the same period last year because of “Double Reduction Policy” aforementioned required suspension of all subject-based off-campus tutoring business targeting pre-school kids and K12 students.
Operating Costs and Expenses
Operating costs and expenses for the first half year of 2022 were RMB360.9 million (US$57.1 million), compared to RMB871.4 million (US$134.6 million) during the same period last year.
- Cost of revenues were nil compared to RMB1,019.0 million (US$157.4 million) for the same period of last year because the Company ceased all the domestic education programs and learning centers in China in October 2021 in order to comply with the policy directives of the Opinion, accordingly, no revenues were generated for the continuing business in the first half of 2022.
- Selling and marketing expenses were nil compared to RMB459.7 million (US$71.0 million) for the same period of last year because the Company ceased its after-school tutoring services in primary and secondary schools according to government regulations, therefore, no selling and marketing expenses were incurred for the continuing business in the first half of 2022.
- General and administrative expenses were RMB360.9 million (US$57.1 million), mainly consisting of share-based compensation expenses, and has decreased by 27% year-over-year.
Operating Loss
Operating loss for the first half year was RMB360.9 million (US$57.1 million), compared to operating loss of RMB273.9 million (US$42.3 million) in the same period of the prior fiscal year.
Income from Continuing and Discontinuing operations
For the first half year 2022, loss from continuing operations was RMB372.0 million (US$58.8 million) and loss from discontinued operations was RMB742.9 million (US$116.2 million) compared to RMB348.0 million (US$53.8 million) and nil, respectively, for the same period of last year.
Net interest expense was RMB11.0 million (US$1.7 million), compared to net interest expense of RMB53.5 million (US$8.3 million) during the same period last year.
Other income, which mainly represents government subsidies and other gains, was nil compared to RMB30.4 million (US$4.7 million) for the same period last year.
Net Loss Attributable to Meta Data
Net loss attributable to Meta Data was RMB1,114.8 million (US$175.1 million), compared to RMB331.6 million (US$51.2 million) for the same period last year.
Financial Position
As of February 28, 2022, the Company had cash and cash equivalents of RMB186.2 million (US$29.5 million) from continuing operation, restricted cash of RMB159.8 million (US$25.3 million) from discontinued operation. Short-term investments of RMB6.8 million (US$1.1 million)
As of February 28, 2022, the Company had short-term loan of RMB628.2 million (US$99.4 million) for the continuing operation.
Cash Flow
Net cash used in operating activities in the first half year of 2022 was RMB261.0 million (US$41.3 million) in which continuing operations used RMB86.3 million (US$13.6 million), discontinued operations used RMB174.8 million (US$27.6 million).
Net cash provided by investing activities in the first half year of 2022 was RMB82.6 million (US$13.1 million) in which continuing operations provided nil, discontinued operations provided RMB20.7 million (US$3.3 million).
Net cash provided from financing activities in the first half year of 2022 was RMB138.8 million (US$22.0 million) in which continuing operations provided RMB194.7 million (US$30.8 million), discontinued operations used RMB55.9 million (US$8.8 million).
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the reader’s convenience. Unless otherwise noted, all translations from RMB to U.S. dollars are made at the noon buying rate on February 28, 2022, as set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System, which was RMB6.3222 to USD1.00.
About Meta Data
Meta Data Limited (formerly known as OneSmart International Education Group Limited), a Cayman Islands exempt company, has built a comprehensive premium K-12 education platform that encompasses MetaData VIP business, smart ID, and MetaData Online. For more information on Meta Data, please visit: www.aiumeta.com
Safe Harbor Statement
This press release contains forward-looking statements made under the “safe harbor” provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and 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,” “confident” and similar statements. Meta Data may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about Meta Data’s beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: Meta Data’s goals and strategies; its future business development, financial condition and results of operations; 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 current as of the date of the press release, and Meta Data does not undertake any obligation to update such information, except as required under applicable law.
For more information, please contact:
[email protected]
ICA (Institutional Capital Advisory)
| META DATA LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands) |
||||||||||||
| As of August 31, 2021 |
As of February 28, 2022 |
As of February 28, 2022 |
||||||||||
| RMB | RMB | USD | ||||||||||
| (Audited) | (Unaudited) | (Unaudited) | ||||||||||
| Asset | ||||||||||||
| Current Asset | ||||||||||||
| Cash | 29,626 | 186,230 | 29,457 | |||||||||
| Short-term investments | 81,575 | 6,763 | 1,070 | |||||||||
| Restricted cash | 355,017 | – | – | |||||||||
| Current assets from discontinued operations | – | 159,804 | 25,277 | |||||||||
| Total current assets | 466,218 | 352,797 | 55,804 | |||||||||
| Prepayment to acquire a subsidiary | ||||||||||||
| Property, plant and equipment, net | 36,955 | – | – | |||||||||
| Non-current assets from discontinued operations | – | 14,678 | 2,322 | |||||||||
| Total assets | 503,173 | 367,475 | 58,126 | |||||||||
| Liabilities and Equity | ||||||||||||
| Short-term loan | 498,574 | 628,174 | 99,360 | |||||||||
| Long-term loan, current portion | 513,432 | – | – | |||||||||
| Prepayments from customers | 2,787,686 | – | – | |||||||||
| Amounts due to related parties | 1,205 | – | – | |||||||||
| Income tax payable | 48,216 | – | – | |||||||||
| Accrued expenses and other current liabilities | 868,464 | 17,284 | 2,734 | |||||||||
| Current liabilities from discontinued operations | 4,828,109 | 763,676 | ||||||||||
| Total current liabilities | 4,717,577 | 5,473,567 | 865,770 | |||||||||
| Long-term bank loan | 135,000 | |||||||||||
| Convertible loan | 226,114 | |||||||||||
| Other non-current liabilities | 45,727 | |||||||||||
| Non-current liabilities from discontinued operations | 154,798 | 24,485 | ||||||||||
| Total liabilities | 5,124,418 | 5,628,365 | 890,255 | |||||||||
| Commitments and contingencies | ||||||||||||
| Equity | ||||||||||||
| Class A ordinary shares (US$0.000001 par value; 37,703,157,984 shares authorized; 4,321,229,545 issued and outstanding as of August 31, 2021 and 12,321,229,545 issued and outstanding as of February 28, 2022, respectively) | 26 | 76 | 12 | |||||||||
| Class B ordinary shares ($0.000001 par value, 2,290,430,016 shares issued and outstanding as of August 31, 2021 and 2,290,430,016 issued and outstanding as of February 28, 2022 respectively) | 16 | 16 | 3 | |||||||||
| Ordinary shares | 42 | 92 | 15 | |||||||||
| Additional paid-in capital | 5,337,962 | 5,799,290 | 917,290 | |||||||||
| Treasury stock | (344 | ) | – | – | ||||||||
| Statutory reserve | 16,427 | 16,427 | 2,598 | |||||||||
| Retained earnings-Accumulated Deficit | (10,078,429 | ) | (11,147,275 | ) | (1,763,196 | ) | ||||||
| Accumulated other comprehensive income | 92,693 | 106,159 | 16,792 | |||||||||
| Total Meta Data Limited’s Equity | (4,631,649 | ) | (5,225,307 | ) | (826,501 | ) | ||||||
| Noncontrolling interests | 10,404 | (35,583 | ) | (5,628 | ) | |||||||
| Total equity | (4,621,245 | ) | (5,260,890 | ) | (832,129 | ) | ||||||
| Total liabilities and equity | 503,173 | 367,475 | 58,126 | |||||||||
| META DATA LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Amounts in thousands) |
||||||||||||
| For the six months ended February 28, | ||||||||||||
| 2021 | 2022 | 2022 | ||||||||||
| RMB | RMB | USD | ||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||
| Net revenues | 1,616,435 | – | – | |||||||||
| Cost of revenues | (1,018,954 | ) | – | – | ||||||||
| Gross profit | 597,481 | – | – | |||||||||
| Operating expenses | ||||||||||||
| Selling and marketing | (459,742 | ) | – | – | ||||||||
| General and administrative | (411,624 | ) | (360,910 | ) | (57,086 | ) | ||||||
| Total operating expenses | (871,366 | ) | (360,910 | ) | (57,086 | ) | ||||||
| Operating loss | (273,885 | ) | (360,910 | ) | (57,086 | ) | ||||||
| Interest income | 3,976 | 7 | 1 | |||||||||
| Interest expense | (53,543 | ) | (11,032 | ) | (1,745 | ) | ||||||
| Other income | 30,370 | – | – | |||||||||
| Other expense | (42,219 | ) | – | – | ||||||||
| Foreign exchange gain/(loss) | 1,548 | (19 | ) | (3 | ) | |||||||
| Loss before income tax provision | (333,753 | ) | (371,954 | ) | (58,833 | ) | ||||||
| Income tax benefit | 19,336 | – | – | |||||||||
| Loss before share of net loss from equity investees | (314,417 | ) | (371,954 | ) | (58,833 | ) | ||||||
| Shared net loss from operating interest | (33,578 | ) | – | – | ||||||||
| Loss from Continuing operations | (347,995 | ) | (371,954 | ) | (58,833 | ) | ||||||
| Discontinued Operations | ||||||||||||
| Loss from discontinued operations | – | (742,879 | ) | (116,218 | ) | |||||||
| NET LOSS | (347,995 | ) | (1,114,833 | ) | (175,051 | ) | ||||||
| Add: Net loss attributable to non-controlling interests | (16,445 | ) | (45,987 | ) | (7,273 | ) | ||||||
| Net loss attributable to common shareholders of Meta Data Limited | (331,550 | ) | (1,068,846 | ) | (167,778 | ) | ||||||
| META DATA LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME/(LOSS) (Amounts in thousands) |
||||||||||||
| For the six months ended February 28, | ||||||||||||
| 2021 | 2022 | 2022 | ||||||||||
| RMB | RMB | USD | ||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||
| Net loss | (347,995 | ) | (371,954 | ) | (58,833 | ) | ||||||
| Other comprehensive income, net of tax | ||||||||||||
| Foreign currency translation adjustment | (10,119 | ) | 13,466 | 2,455 | ||||||||
| Unrealized gain on available-for-sale investment, net of tax effect of nil, nil and nil for years ended August 31, 2015 and 2016, respectively | 6,236 | – | – | |||||||||
| Other comprehensive (loss) / income | – | – | – | |||||||||
| Comprehensive income | (351,878 | ) | (358,488 | ) | (56,378 | ) | ||||||
| Less: comprehensive loss attributable to non-controlling interests | 16,445 | 45,987 | 7,273 | |||||||||
| Comprehensive income attributable to Meta Data Limited | (335,433 | ) | (312,501 | ) | (49,105 | ) | ||||||
| Comprehensive loss attributable to Ordinary Shareholders | (335,433 | ) | (312,501 | ) | (49,105 | ) | ||||||
Artificial Intelligence
More than $9 Million Awarded to High School Scientists and Engineers at the Regeneron International Science and Engineering Fair 2024
Grace Sun, 16, receives $75,000 Top Award for a new kind of organic electrochemical transistor at the world’s largest pre-college science, technology, engineering and math (STEM) competition.
TARRYTOWN, N.Y. and WASHINGTON, May 17, 2024 /PRNewswire/ — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science (the Society) announced that Grace Sun, 16, of Lexington, Kentucky, won the $75,000 top award, the George D. Yancopoulos Innovator Award, named in honor of the pioneering drug researcher and Regeneron co-Founder, Board co-Chair, President and Chief Scientific Officer, in the 2024 Regeneron International Science and Engineering Fair (Regeneron ISEF), the world’s largest pre-college science and engineering competition. Other top prizes went to projects in second-order cone programming, microplastics filtration and multi-sensory therapy for dementia.
The top winners were honored during two award ceremonies: the Special Awards on May 16 and the Grand Awards Ceremony on the morning of May 17. In total, over $9 million USD was awarded to the finalists based on their projects’ creativity, innovation and depth of scientific inquiry. The competition featured nearly 2,000 young scientists representing 49 U.S. states and nearly 70 countries, regions and territories across the world.
Grace Sun, 16, of Lexington, Kentucky, won first place and received the $75,000 George D. Yancopoulos Innovator Award for her research on building a better organic electrochemical transistor that she hopes will be used to develop new electronic devices that could help detect and treat serious illnesses like diabetes, epilepsy and organ failure. To overcome the problems that have previously prevented such devices from working effectively inside the body, Grace developed a new way of chemically treating their organic components, which greatly improved their laboratory performance.
Michelle Wei, 17, of San Jose, California, received one of two Regeneron Young Scientist Awards of $50,000 for her research to improve the speed and efficiency of a type of software that is useful in many fields such as machine learning, transportation and financial systems. Michelle’s new approach involved determining a quick approximate solution to the second-order cone programming problem, then splitting the initial cone into smaller cones, which enabled her new algorithm to greatly outperform previous approaches.
Krish Pai, 17, of Del Mar, California, received the second Regeneron Young Scientist Award of $50,000 for his machine-learning research to identify microbial genetic sequences that can be modified to biodegrade plastic. His new software, called Microby, scans databases of microorganisms and determines which ones can be changed genetically to biodegrade plastics. In tests, he identified two microorganisms that can be genetically modified to degrade plastic at a cost he believes would be ten times less than traditional recycling.
“Congratulations to the Regeneron International Science and Engineering Fair 2024 winners,” said Maya Ajmera, President and CEO, Society for Science and Executive Publisher, Science News. “I’m truly inspired by the ingenuity and determination shown by these remarkable students. Coming from around the world with diverse backgrounds and academic disciplines, these students have shown that it is possible to come together in unity to tackle some of the toughest challenges facing our world today, and I could not be prouder.”
Regeneron ISEF provides a global stage for the world’s best and brightest young scientists and engineers. Through this competition, Regeneron and the Society are fostering the next generation of STEM leaders who are pioneering solutions to improve our world. Since 2020, Regeneron has provided STEM experiences to approximately 2.4 million students, on track to meet its goal of 2.5 million by 2025.
“The talent, intelligence and potential of this year’s Regeneron ISEF finalists is truly inspiring, and I congratulate each on their remarkable achievements,” said George D. Yancopoulos, M.D., Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. “Science competitions like ISEF were pivotal in shaping my own career and fueling my passion to fight back against disease. I look forward to seeing these students continue to push the boundaries of science and technology to create positive and sustainable change for all humanity.”
Other top honors from the competition include:
Justin Huang and Victoria Ou, both 17, of Woodlands, Texas, received the Gordon E. Moore Award for Positive Outcomes for Future Generations of $50,000 for their new prototype filtration system that uses ultrasonic waves to remove microscopic plastic particles from water. In lab tests, the acoustic force from the high-frequency sound waves removed between 84% and 94% of the suspended microplastic particles in a single pass. The students are now working to scale up and fine-tune their experimental system.
Ingrid Wai Hin Chan, 17, of Hong Kong, China received the Craig R. Barrett Award for Innovation of $10,000 for her research on using a multi-sensory therapy for dementia patients. Her mixed therapy app would allow patients to practice physical and cognitive skills through a personalized, immersive environment using virtual reality headsets. Ingrid conducted an eight-week study with six people living with dementia and found that the cognitive function of patients who used her prototype improved in several areas. She believes her app could serve as a viable option for dementia patients with limited access to in-person professional therapy.
Tanishka Balaji Aglave, 15, of Valrico, Florida, received the H. Robert Horvitz Prize for Fundamental Research of $10,000 for her investigation into a natural alternative treatment against citrus greening, a disease that threatens citrus farming in many parts of the world and is currently only treated with antibiotics. Tanishka injected the trunks of infected trees with an extract from the curry leaf tree, and found through tests that this potential method could effectively and sustainably manage citrus greening disease.
Maddux Alexander Springer, 18, of Honolulu, Hawaii, received the Peggy Scripps Award for Science Communication of $10,000 for his research into fibropapillomatosis (FP), a disease that is the primary cause of death in green sea turtles. Some turtles he studied in Kaneohe Bay, Hawaii, were stricken with a disease that causes internal and external tumors that inhibit their everyday lives. After analyzing the turtles’ diet of green algae, Maddux concluded that this disease, wastewater, invasive algae and the amino acid arginine all pose a grave risk to these endangered sea creatures.
Ria Kamat, 17, of Hackensack, New Jersey; Anna Oliva, 17, of Houston, TX; and Shuhan Luo, 18, of Worcester, MA, received the Dudley R. Herschbach SIYSS Award, which provides finalists an all-expense paid trip to attend the Stockholm International Youth Science Seminar during Nobel Week in Stockholm, Sweden.
Jack Shannon, 18, of Clane, Kildare, Ireland, and Nikhil Vemuri, 17, of Cary, North Carolina, received the EU Contest for Young Scientists Award. Their projects will represent Regeneron ISEF at the EU Contest for Young Scientists to be held this September in Katowice, Poland.
For more information about the top winners and access to visual assets visit: https://www.societyforscience.org/isef-2024-media-kit.
The full list of Special Award ISEF 2024 Finalists can be found at https://www.societyforscience.org/press-release/regeneron-isef-2024-special-awards-winners.
In addition to the Top Award winners, more than 450 finalists received awards and prizes for their innovative research, including “First Award” winners, who each received a $5,000 prize.
The following lists the First Award winners for each of the 22 categories, from which the Top Awards were chosen:
Animal Sciences, sponsored by Society for ScienceMaddux Alexander Springer, Honolulu, Hawaii
Behavioral and Social Sciences, sponsored by Society for ScienceAndrew Y. Liang, San Jose, California
Biochemistry, sponsored by RegeneronAmy Hong Xiao, Garden City, New York
Biomedical and Health Sciences, sponsored by RegeneronRia Kamat, Hackensack, New Jersey; Kevin Xuan Lei, Shanghai, China
Biomedical Engineering, sponsored by Alfred E. Mann CharitiesAyush Garg, Dublin, California; Divij Motwani, Palo Alto, California; Akash Ashish Pai, Portland, Oregon
Cellular and Molecular Biology, sponsored by RegeneronLara and Maya Sarah Hammoud, Beverly Hills, Michigan
Chemistry, sponsored by Society for ScienceAkilan Sankaran, Albuquerque, New Mexico; Arjun Suresh Malpani and Siddharth Daniel D’costa, Portland, Oregon
Computational Biology and Bioinformatics, sponsored by RegeneronKun-Hyung Roh, Bronx, New York
Earth and Environmental Sciences, sponsored by Google.orgNikhil Vemuri, Durham, North Carolina; Justin Yizhou Huang and Victoria Ou, The Woodlands, Texas
Embedded Systems, sponsored by HPChloe Rae and Sophie Rose Filion, Welland, Ontario, Canada
Energy: Sustainable Materials and Design, sponsored by Siemens EnergyAlia Wahban, Hamilton, Ontario, Canada
Engineering Technology: Statics and Dynamics, sponsored by Howmet Aerospace FoundationChiyo Nakatsuji, Bunkyoku, Tokyo, Japan; Kevin Shen, Olympia, Washington
Environmental Engineering, sponsored by JacobsKrish Pai, San Diego, California; Jack Shannon, Clane, Kildare, Ireland
Materials Science, sponsored by Howmet Aerospace FoundationGrace Sun, Lexington, Kentucky
Mathematics, sponsored by Akamai FoundationAnna Oliva, Houston, Texas
Microbiology, sponsored by Schattner FoundationMatthew Chang, Irvine, California
Physics and Astronomy, sponsored by Richard F. Caris Charitable Trust IIHarini Thiagarajan and Vishal Ranganath Yalla, Bothell, Washington; Shuhan Luo, Worcester, Massachusetts
Plant Sciences, sponsored by Society for SciencePauline Estrada, Fresno, California; Tanishka Balaji Aglave, Dover, Florida
Robotics and Intelligent Machines, sponsored by RegeneronMichal Lajciak, Dubnica nad Vahom, Trenciansky kraj, Slovakia; Anthony Efthimiadis, Oakville, Ontario, Canada
Systems Software, sponsored by MicrosoftMichelle Wei, San Jose, California
Technology Enhances the Arts, sponsored by Society for ScienceAnant Khandelwal, Sritan Motati and Siddhant Sood, Alexandria, Virginia
Translational Medical Science, sponsored by RegeneronZheng-Chi Lee, West Lafayette, Indiana; Ingrid Wai Hin Chan, Hong Kong, China
The full list of all award-winning ISEF 2024 finalists is available here: https://www.societyforscience.org/press-release/regeneron-isef-2024-full-awards.
View all the finalists’ research here: https://projectboard.world/isef.
About the Regeneron International Science and Engineering FairThe Regeneron International Science and Engineering Fair (Regeneron ISEF), a program of Society for Science for over 70 years, is the world’s largest global science competition for high school students. Through a global network of local, regional and national science fairs, millions of students are encouraged to explore their passion for scientific inquiry. Each spring, a group of these students is selected as finalists and offered the opportunity to compete for approximately U.S. $9 million in awards and scholarships.
In 2019, Regeneron became the title sponsor of ISEF to help reward and celebrate the best and brightest young minds globally and encourage them to pursue careers in STEM to positively impact the world. Regeneron ISEF is supported by a community of additional sponsors, including Akamai Foundation, Alfred E. Mann Charities, Aramco, Caltech, Google.org, Gordon and Betty Moore Foundation, Howmet Aerospace Foundation, HP, , Jacobs, King Abdulaziz & his Companions Foundation for Giftedness and Creativity, Microsoft, National Geographic Society, Richard F. Caris Charitable Trust II, Rise, an initiative of Schmidt Futures and the Rhodes Trust, Schattner Foundation, Siemens Energy, Annenburg Foundation, Ballmer Group, Broadcom Foundation, Cesco Linguistic Services, Conrad N. Hilton Foundation, Edison International, Insaco, Oracle Academy, The Eli and Edythe Broad Foundation, The Ralph M. Parsons Foundation and US Army ROTC. Many are entrepreneurs across a wide range of industries. Learn more at https://www.societyforscience.org/isef/.
About Society for ScienceSociety for Science is a champion for science, dedicated to promoting the understanding and appreciation of science and the vital role it plays in human advancement. Established in 1921, Society for Science is best known for its award-winning journalism through Science News and Science News Explores, its world-class science research competitions for students, including the Regeneron Science Talent Search, the Regeneron International Science and Engineering Fair and the Thermo Fisher Scientific Junior Innovators Challenge, and its outreach and equity programming that seeks to ensure that all students have an opportunity to pursue a career in STEM. A 501(c)(3) membership organization, Society for Science is committed to inform, educate and inspire. Learn more at www.societyforscience.org and follow us on Facebook, Twitter, Instagram and Snapchat (Society4Science).
About RegeneronRegeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases and rare diseases.
Regeneron believes that operating as a good corporate citizen is crucial to delivering on our mission. We approach corporate responsibility with three goals in mind: to improve the lives of people with serious diseases, to foster a culture of integrity and excellence and to build sustainable communities. Regeneron is proud to be included on the Dow Jones Sustainability World Index and the Civic 50 list of the most “community-minded” companies in the U.S. Throughout the year, Regeneron empowers and supports employees to give back through our volunteering, pro bono and matching gift programs. Our most significant philanthropic commitments are in the area of early science education, including the Regeneron Science Talent Search and the Regeneron International Science and Engineering Fair (ISEF).
For more information, please visit www.Regeneron.com or follow Regeneron on LinkedIn, Instagram, Facebook or X.
More information about the top winners and access to visual assets visit: https://www.societyforscience.org/isef-2024-media-kit.
Media ContactsJoseph Brown, [email protected]
Gayle Kansagor, Society for [email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/more-than-9-million-awarded-to-high-school-scientists-and-engineers-at-the-regeneron-international-science-and-engineering-fair-2024-302149316.html
Artificial Intelligence
J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Announce Winner of Inaugural 2024 Life Sciences Innovation Summit
In conjunction with Abu Dhabi Global Healthcare Week 2024
ABU DHABI, UAE, May 17, 2024 /PRNewswire/ — J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Group announced today Rayees Rahman of Harmonic Discovery as the winner of the inaugural J.P. Morgan Asset Management: Life Sciences Innovation Summit. Harmonic Discovery is a precision pharmacology company applying its generative chemistry platform to advance next-generation kinase inhibitors.
In partnership with the Department of Health – Abu Dhabi (DoH), the Summit took place on May 14-15, 2024 at Cleveland Clinic Abu Dhabi and showcased the 11 innovative finalists, as well as highlighted existing innovators and opportunities in the Emirate of Abu Dhabi. The event also featured keynote speeches from Dr. Laurie Glimcher of Dana-Farber Cancer Institute, Dr. Shahrukh Hashmi of the Department of Health – Abu Dhabi, and Dr. David Ho of Columbia University Medical Center and provided attendees networking opportunities to gain valuable insights into the future of life sciences innovation.
In addition, the jury designated Chun-Hao Huang of Algen Biotechnologies as honourable mention. Algen Biotechnologies is a platform therapeutics and drug discovery company using world-leading CRISPR and AI to find treatments for cancer, inflammation and metabolic diseases.
The winners were selected by an esteemed, international panel of judges, which included:Laurie Glimcher, MD, President and CEO at Dana-Farber Cancer InstituteJorge Guzman, MD, CEO at Cleveland Clinic Abu DhabiProf. Shahrukh Khurshid Hashmi, MD, Director of Research, Department of Health, Abu DhabiYasmine Hayek Kobeissi, PhD, CQF, BSc., Executive Director at Blue Horizon AdvisorsAnya Schiess, Managing Partner at J.P. Morgan Life Sciences Private CapitalWalid Zaher, PhD, Co-Founder and CEO, Carexso
Dr. Asma Al Mannaei, Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi said: “Under the directives of the UAE’s wise leadership, and renowned for its world-leading medical infrastructure, Abu Dhabi stands at the forefront of healthcare excellence, offering an unparalleled opportunity for advancement in healthcare for global partners. It was our utmost pleasure hosting the J.P. Morgan Asset Management Life Sciences Innovation Summit 2024 on the sidelines of Abu Dhabi Global Healthcare Week and we commend the winners for their pioneering efforts in driving impactful advancements in healthcare; their dedication to innovation not only transforms the landscape of medicine, but also holds the promise of improving lives worldwide.”
Stephen Squinto, PhD, Chief Investment Officer, J.P. Morgan Life Sciences Private Capital said: “We are thrilled with the level of biotech passion and innovation that we observed at this year’s Summit in Abu Dhabi. The energy was truly palpable we are thrilled to announce Rayees Rahman as the winner of our first Life Sciences Innovation Summit. Harmonic Discovery’s approach embodies the next generation of drug discovery and development. We appreciate the time and effort of all participants and cannot wait for our next event in the region.”
Nabil Kobeissi, Chief Executive Officer of Blue Horizon Advisors, said: “As the main sponsor, we are committed to nurturing and fostering the growth of all 11 finalists in this vibrant biotech ecosystem. This Summit marks the beginning of a transformative journey, and we are confident that it will pave the way for a flourishing hub in the region. We are also pleased to announce that we will commit to invest in and partner with the winner, Harmonic Discovery, to support its future growth in the region.”
Sponsors for the event included J.P. Morgan Life Sciences Private Capital, J.P. Morgan Commercial Bank, Blue Horizon Advisors, United Al Saqer Group, Thermo Fisher Scientific, and Salam Capital. The Summit organisation, logistics and finalist recruitment were facilitated by Lyfebulb.
Of importance, at the Summit, Mr. Mohamed Al Breiki, Executive Director of Sustainable Development at Masdar City, announced that Masdar City Free Zone would award all 11 Finalists complimentary business licenses to further support their establishment in the region. Masdar City is one of the world’s most sustainable urban developments and innovation hubs with a growing focus on life science entrepreneurship in Abu Dhabi.
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Artificial Intelligence
Congregating in the Lion City for a Win-Win Future of Intelligent Computing at the Global Data Center Facility Summit 2024
SINGAPORE, May 17, 2024 /PRNewswire/ — On May 17, 2024, the Global Data Center Facility Summit 2024 was held in Singapore with the theme of “Power the Digital Era Forward.” At the summit, over 600 data center industry leaders, technical experts, and ecosystem partners gathered to discuss new trends and opportunities of the global data center industry in the intelligent computing era. The attendees also got to experience all-scenario, all-ecosystem, and all-service end-to-end (E2E) solutions, share innovative practices of green data centers in the Asia Pacific and Europe, and experience the exhibition vehicle to unveil the mystery of Outdoor PowerPOD that features one power system per container. By fully embracing the intelligent computing era, Huawei strives to power the digital era forward.
Seizing Opportunities Brought by AI and Jointly Building Green & Reliable Computing Infrastructure
At the opening speech, Charles Yang, Senior Vice President of Huawei and President of Marketing, Sales and Services, Huawei Digital Power, noted that since ChatGPT ushered in the AI era, large models keep pushing the limits of computing power and the intelligent computing industry is witnessing an unprecedented construction boom. As predicted, 100 GW will be added to the global data center installed capacity and the market value will exceed US$600 billion in the next five years.
According to Charles, with opportunities come challenges. The primary challenge concerning the data center industry is reliability and electricity. Data centers are scaling up from the MW-level to the GW-level. E2E reliability of data centers is becoming even more important than ever. In response to the opportunities, Huawei will work with customers and partners to expand the industry space.
Steering Data Centers to the AI Era with Product + Service + Ecosystem
During the summit, Sun Xiaofeng, President of Huawei Data Center Facility & Critical Power Business, delivered a speech titled “Power the Digital Era Forward. ” He stated that as AI large models are penetrating, the surging compute demands drive the expansive growth in data center.
To address the challenges, Huawei strives to build product + service + ecosystem E2E data center solutions that feature fast deployment, flexible cooling, green energy, and ultimate reliability.
Fast deployment: Data centers are fully modularized and prefabricated to ensure high quality and efficient construction.Flexible cooling: Air-liquid fusion and integrated cooling source emerges as the optimal cooling architecture for intelligent computing.Green energy: New generation-grid-load-storage integrated solution is built to ensure the sound operations of intelligent computing centers.Ultimate reliability: Data centers are safeguarded through reliable products and preventive protection.Currently, Huawei’s global service network covers more than 170 countries with over 1800 professional engineers, providing 24/7 technical support. With N+ flagship service centers, Huawei has built a one-hour service radius for its customers.
The ecosystem is a key part for a win-win future of intelligent computing. Huawei works with partners to develop comprehensive E2E solutions and provide customers with one-stop data center services.
During the summit, Huawei and the ASEAN Centre for Energy released a white paper on “Building Next Generation Data Center Facility in ASEAN.” The document provides insights into the status quo, challenges, and trends of data centers in the ASEAN region, and emphasizes that efficient and energy-saving products and solutions should be applied. It also proposes future-oriented policy recommendations for data center markets.
In the ecosystem exhibition area, Huawei showcased scenario-based solutions for large-, medium-, and small-sized data centers, and demonstrated data center consulting, design, integrated development, and delivery capabilities with dozens of ecosystem partners including CIMC, Weichai, CSCEC, and Huashi.
On a special note, the Huawei Outdoor PowerPOD exhibition vehicle made its global debut. The Huawei Outdoor PowerPOD features one power system per container, outdoor deployment, plug-and-play, and high protection rating and reliability. It has become the preferred choice for decoupling the power supply architecture.
A single tree cannot make a forest.
AI is presenting great opportunities. By delving into the industry, aggregating partner ecosystems, and making innovations applicable to transformations, Huawei will continue to help customers build reliable computing infrastructure, accelerating the industry to embrace AI and powering the digital era forward.
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