Artificial Intelligence
China’s EdTech Industry Faces Continued Growth, QuantaSing CFO Says At ASU+GSV Summit
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SAN DIEGO, April 18, 2023 (GLOBE NEWSWIRE) — QuantaSing Group Limited (NASDAQ: QSG) (“QuantaSing” or the “Company”), a leading online learning service provider for adults in China, highlighted the growth prospects of the country’s EdTech sector at the premier global forum on technology and its innovation in education and skills.
In a panel on the opening day of the ASU+GSV Summit, moderated by GSV Ventures Senior Advisor Joy Chen, Tim Xie, Chief Financial Officer at QuantaSing, said adults in China continue to look to digital learning to develop the skills to navigate today’s constantly evolving world.
“Access to quality online learning is an important step in helping people future-proof their skills and seek new opportunities for career growth and personal development. Adults are not only learning to grow, they are also learning to explore new personal interests and aspirations,” Mr. Xie said.
Thanks to such tailwinds, China’s online adult learning market, in terms of revenue, is expected to reach RMB288.1 billion (US$44.6 billion) in 2026, at a CAGR of 17.9% from 2021 to 2026, according to a report from Frost & Sullivan. QuantaSing occupies a key position in this market, with 77.8 million registered users as of December 31, 2022.
The panel, which included other top names from China’s online learning space, also discussed artificial intelligence (AI) applications in the country’s and global EdTech industry. Ensuring these tools facilitate the transfer of knowledge, under the guidance of tutors and specialists, and optimizing a customized learning experience is key to moving this industry forward.
QSG remains dedicated to developing new course offerings to meet the diverse needs of learners, spanning from skill-based learning courses to other personal interest courses such as short video production and calligraphy. In addition, QSG has recently started providing enterprise talent management services, which also provides robust growth opportunities.
About QuantaSing Group Limited
QuantaSing is a leading online service provider in China dedicated to improving people’s quality of life and well-being by providing lifelong personal learning and development opportunities. The Company is the largest online learning service provider in China’s adult personal interest learning market and among the top five service providers in China’s total adult learning market in terms of revenue in 2021. By leveraging its proprietary tools and technology, QuantaSing offers easy-to-understand, affordable, and accessible online courses to adult learners under a variety of brands, including QiNiu, JiangZhen and QianChi, empowering them to pursue personal development. Leveraging its extensive experience in individual online learning services, the Company has also expanded its services to corporate clients including, among others, marketing services and enterprise talent management services.
About ASU+GSV Summit
The ASU+GSV Summit is the premier global event focused on technology innovation in education and skills. Started in 2010 with a collaboration between Arizona State University (ASU) and Global Silicon Valley (GSV), the annual Summit connects leading minds focused on transforming society and business around learning and work. Educators, investors, industry leaders, and entrepreneurs from around the world come together to innovate the future of education for all.
Safe Harbor Statements
This announcement contains forward-looking statements within the meaning of Section 27A of Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1955. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding QuantaSing’s financial outlook, beliefs and expectations. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. Among other things, the Financial Outlook in this announcement contains forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), 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. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s growth strategies; its future business development, results of operations and financial condition; its ability to attract and retain new users and learners and to increase the spending and revenues generated from users and learners; its ability to maintain and enhance the recognition and reputation of its brand; its expectations regarding demand for and market acceptance of its services and products; trends and competition in China’s adult learning market; changes in its revenues and certain cost or expense items; the expected growth of China’s adult learning market; PRC governmental policies and regulations relating to the Company’s business and industry, general economic and political conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the SEC, including, without limitation, the final prospectus related to the IPO filed with the SEC dated January 24, 2023. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.
For more information, please visit: ir.liangzizhige.com.
Media Contact
Investor Relations
Leah Guo
Email: [email protected]
Landline: +86 (10) 6493-7857
The July editions of Technology, Mobile and AI Magazines include interviews with leading experts and executives from Google Cloud, Virgin Media O2, Genpact and more!
LONDON, July 5, 2024 /PRNewswire/ — BizClik, the UK’s fastest-growing publishing company, has published the latest editions of Technology, Mobile and AI Magazines. These publications are highly regarded within the technology and telecommunication sectors for their in-depth reports and interviews with prominent figures in the respective industries.
Technology MagazineThis month’s edition features an exclusive lead interview with Helen Kelisky, Managing Director at Google Cloud UK & Ireland on her perspectives as a female tech leader and the future of cloud and AI.
“Teams become stronger by not only recruiting diverse talent but in challenging the limitations of the team and playing to their unique set of strengths”
The edition also contains extensive interviews with key thought leaders from Genpact, Trane and more, along with the Top 10: Technology Consultants
Mobile MagazineThis month’s edition features an extensive lead interview with Julian Davidge, Director of Technology, Service & Operations at Virgin Media O2 on technological innovation at the telco giant.
“Technology is moving faster and faster as the desire to do something different increases”
The edition also contains extensive interviews with key thought leaders from Schneider Electric, Extreme Networks, AT&T and more. Plus the Top 10 5G Leaders
AI MagazineThis month’s edition features an extensive lead interview with Shibu Nambiar, Global High Tech Business Leader at Genpact, on how AI is transforming operations.
“Ensuring the human element remains central to any kind AI initiative is something I think about every single day”
The edition also contains extensive interviews with key thought leaders from Trane, Roy Hill and more, along with the Top 10: Consulting Companies
You can visit Technology Magazine, Mobile Magazine and AI Magazine for daily news and analysis of the ever-changing technology industry.
About BizClikBizClik is one of the fastest-growing digital media companies in the UK, host to a growing portfolio of industry-leading global brands and communities.
BizClik’s expanding portfolio includes Technology, AI, FinTech, InsurTech, Supply Chain, Procurement, Energy, Mining, Manufacturing, Healthcare, Mobile, Data Centre, Cyber, and Sustainability.
For more information, please visit https://www.bizclikmedia.com/
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Fitzpatrick will drive the next phase of ESG Book’s growth as a global leader in sustainability data and technology.
An experienced leader of investor-backed software companies, Fitzpatrick was previously Co-founder of FullCircl, a software provider to over 700 clients and 15,000 end users in regulated industries.ESG Book offers a wide range of sustainability-related data and technology solutions that are used by many of the world’s largest financial institutions.With 200,000 disclosures, ESG Book’s platform provides data and analytics on public securities and the ability to directly request ESG disclosures from private companies.Fitzpatrick’s appointment comes as market demand for ESG and climate data solutions continues to grow, driven by increasing regulation and disclosure requirements worldwide. LONDON, July 5, 2024 /PRNewswire/ — ESG Book, a global leader in sustainability data and technology, today announced the appointment of Justin Fitzpatrick as the company’s new CEO with immediate effect. He will lead the next phase of ESG Book’s growth, and drive the firm’s market differentiation through next-generation sustainability solutions.
A highly experienced leader of investor-backed software companies, Fitzpatrick was previously the Co-founder and COO of FullCircl, a software provider to more than 700 clients and 15,000 end users in regulated industries. Prior to that, he was the Co-founder and CEO of DueDil, an award-winning regtech solution, and Co-founder and Non-Executive Director of Innovate Finance, an industry association that has been at the forefront of establishing the UK as a global fintech hub.
ESG Book offers a wide range of sustainability related data and technology solutions that are used by many of the world’s largest financial institutions, consultants, and corporates.
Combining market-leading sustainability and climate data with a SaaS-based platform that provides access to approximately 200,000 corporate disclosures and analytics, ESG Book directly connects companies with financial institutions. The firm’s cloud-based technology offers best-in-class ESG performance management, peer benchmarking, and regulatory compliance solutions.
Fitzpatrick’s appointment as ESG Book’s new CEO comes as market demand for high-quality ESG and climate data products continues to grow, driven by fast-increasing sustainability regulation and disclosure requirements worldwide.
Nazo Moosa, Advisory Board Member at ESG Book, said: “I am delighted to welcome Justin as ESG Book’s new Chief Executive. He is the ideal candidate to lead the company into a new, successful chapter at a time of a disruptive innovation cycle in sustainable finance. With his deep expertise in scaling and accelerating growth in investor-backed software companies, Justin has the track record to drive ESG Book’s global expansion and deliver its future success as a leader in sustainability data and technology.”
Justin Fitzpatrick, CEO of ESG Book, said: “I am excited to join ESG Book and lead the company into a new phase of growth. This is a business extremely well positioned to meet the fast-growing need for sustainability solutions across capital markets.”
“I look forward to working with the ESG Book team as we continue to expand our partnerships with financial institutions, reduce the friction for corporates in meeting ESG disclosure requirements, and deliver market-leading analytics and tools to help our clients achieve their sustainability goals.”
About ESG Book
ESG Book is a global leader in sustainability data and technology. Combining market-leading sustainability and climate data with an ESG disclosure platform that provides access to almost 200,000 corporate disclosures and analytics, ESG Book directly connects companies with financial institutions. The firm’s cloud-based sustainability dashboard is used by the world’s largest companies and consultants for ESG performance management, peer benchmarking, and regulatory compliance.
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GOTHENBURG, Sweden, July 5, 2024 /PRNewswire/ — A new agreement has been signed between Viking Analytics and Bharat Forge Kilsta (BFK) from Karlskoga. The agreement, which is for three years, provides BFK with the AI-based optimization tool “Smartforge” after a 10-month implementation phase. Smartforge optimizes the forging process, primarily in the critical heat keeping process where the problems with scrap are greatest. The goal is to reduce discarded products by 50% and contribute to energy savings and a more environmentally friendly production.
Niclas Undén, CFO of Bharat Forge Kilsta, comments on the deal: “Through AI technology, a difficult step in the forging process is simplified. The result is lower scrap, lower energy consumption and reduced need for manual work. In SmartForge, Swedish heavy automotive industry meets world-leading AI technology from Viking Analytics. Bharat Forge Kilsta is very pleased with the collaboration with Viking Analytics, and we look forward to a deeper collaboration in the coming years.”
The majority of Bharat Forge’s customers are in the automotive industry and the value of this agreement exceeds SEK 4 million for both Viking Analytics and Bharat Forge.
Stefan Lagerkvist, COO at Viking Analytics: “This agreement is much more than a single business opportunity. Bharat forge has a lot of expertise in steel and forging, which contributes strongly to the solution. Their knowledge has been captured and translated into algorithms for better control of the process. This collaboration confirms everything we so long have been fighting for and gives us a great opportunity in the future to offer an environmentally friendly AI-powered solution to more factories within the Bharat Forge Group as well as to other players in the industry!”
Viking Analytics
Strong in predictive maintenance and smart industrial optimization
Since 2017 the Swedish company Viking Analytics has been at the forefront of revolutionizing the maintenance process for OEMs, maintenance companies and industries. Their commitment to predictive maintenance, smart automation, optimization, and data analytics is evident in their specialized software tool MultiViz, which enables industries to operate, monitor, and understand their machines with unparalleled precision and efficiency. Vibration analysis is a major focus area, but a lot of customized AI solutions are also provided.
Bharat Forge Kilsta
Forgings for the automotive industry
Bharat Forge Kilsta manufactures forged and machined components for the automotive industry. The company’s most important customers are truck manufacturers in Sweden and internationally. Bharat Forge Kilsta is part of the Bharat Forge Group, which is the world’s largest forging group and is headquartered in India. Bharat Forge Kilsta has an annual turnover of SEK 1.3 billion and 320 employees. The Swedish company is located in Karlskoga – the city in Eastern Värmland that is known for its high-tech, and internationally oriented, industrial companies.
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