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Zoomlion 2023 Annual Report Marks Record 79.2% YoY Increase in International Revenue to Reach 17.005 Billion Chinese Yuan

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Zoomlion Heavy Industry Science & Technology Co., Ltd. (“Zoomlion”, 1157.HK), a leading Chinese construction machinery and equipment manufacturer, released its 2023 annual report on the evening of March 28. The company achieved an annual revenue of RMB 47.075 billion, a year-on-year increase of 13.08%, with a net profit of 3.771 billion yuan, a year-on-year increase of 58.13%. The company’s international revenue, which further increased to a record high of 38.04% of total revenue, was 17.905 billion yuan, a year-on-year increase of 79.2%.
Zoomlion’s market position in traditional sectors has been steadily increasing, with:

Hoisting machinery revenue climbed to 19.29 billion yuan, a year-on-year increase of 1.6%;
Concrete machinery revenue achieved 8.6 billion yuan, a year-on-year increase of 1.6%;
The market position in emerging sectors such as earthmoving machinery, aerial machinery, and mining machinery has significantly improved. Among them, earth-moving machinery revenue was 6.65 billion yuan, a year-on-year increase of 89.3%, with aerial machinery revenue at 5.71 billion yuan, a year-on-year increase of 24.2%.

As of the end of 2023, Zoomlion has built over 30 first-level business hubs and more than 350 second-level outlets around the world, with construction spreading from regional centers to higher-tier cities. The total number of employees outside of China exceeds 3000, and the company’s products cover more than 140 countries and regions. Gross profit margins in China and internationally, as well as gross profit margins in each business segment, increased in 2023, with gross profit margins reaching 27.54%, a year-on-year increase of 5.7%.
Zoomlion has harnessed the global village idea, utilizing the end-to-end, direct business approach, along with the digital twin platform, and has steadfastly expanded its international presence via top-tier R&D centers, modern manufacturing units, and expansive sales networks. The company has placed a strong emphasis on advancing the capabilities of its service teams, significantly improving the international customer experience and brand perception.
Zoomlion prioritizes digitization, intelligence, and green as its development focus, aiming to establish an ecological framework of intelligent R&D, scientific management, and advanced manufacturing. Productivity has been enhanced through breakthroughs in core technologies such as 5G, industrial internet, cloud computing, big data, and artificial intelligence. Zoomlion leads the industry in patent applications for digital innovations such as big data and cloud computing, reflecting its commitment to a technologically driven international business approach.
Leveraging intelligent manufacturing, Zoomlion has gained a competitive edge. The focal point, Zoomlion Smart Industrial City, anchors 23 leading smart factories, and by deeply integrating AI, smart manufacturing tech, and equipment, it crafts intelligent, flexible, and eco-friendly production lines. Innovative control algorithms and digital systems swiftly translate research into efficient, collaborative smart factories. This transformation boosts production, efficiency, and delivery metrics significantly, achieving a perfect product qualification rate, a 25% cut in costs, and 52% shorter delivery times.
The post Zoomlion 2023 Annual Report Marks Record 79.2% YoY Increase in International Revenue to Reach 17.005 Billion Chinese Yuan appeared first on HIPTHER Alerts.

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Eddid ONE and Eddid ONE USA Expand Global Coverage

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Eddid Financial (“the Group”) announces that its intelligent trading application Eddid ONE and the premier US stock trading application Eddid ONE USA* have expanded their global coverage to 22 countries and regions. The apps are now officially launched on Google Play and App Store in respective markets, providing clients with advanced and convenient proprietary intelligent services.
The apps are now available in 22 key global markets across six continents, including Hong Kong, the United States, the United Kingdom, Australia, Taiwan and Japan. Going forward, expansion plans are in place to reach additional emerging markets as the Group continues building out its global network.
Eddid ONE and Eddid ONE USA* have long been favored by the market for their clean interface and versatile functions. Specifically, Eddid ONE includes AI assistants in addition to real-time market data, proprietary trading strategies, research reports etc., but also come with AI assistants. Utilizing big data and AI technologies, the assistants provide personalized intelligent services, including predicting market trends and target stock prices to cater to diverse investor needs.
Clients can now keep abreast of the latest global market developments anytime, anywhere by using Eddid ONE and Eddid ONE USA*. This allows them to enjoy the Group’s one-stop proprietary intelligent trading services no matter where they are. Going forward, Eddid Financial will continue leveraging its leadership in fintech innovation to further enhance Eddid ONE and Eddid ONE USA*, with the commitment to deliver an even more comprehensive, efficient and secure financial services experience.
* *Always consider the risks when investing.
The post Eddid ONE and Eddid ONE USA Expand Global Coverage appeared first on HIPTHER Alerts.

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Gcore Recognised as Highly Commended in the Industry Innovator Category at the EMEA NVIDIA Partner Network Awards

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Gcore, the global edge AI, cloud, network, and security solutions provider, today announced its recognition as ‘Highly Commended’ in the Industry Innovation category at the NVIDIA Partner Network Awards EMEA 2024 for its groundbreaking Speech-to-Text Translator.
The NVIDIA Partner Network Awards celebrate the exceptional contributions of partners exhibiting outstanding efforts, unwavering commitment, and innovative spirit in accelerated computing and AI. The Industry Innovation Award recognises partners who have spearheaded transformation within a specific industry or field.
Gcore used artificial intelligence to launch the first advanced machine learning model for speech-to-text translation from English to Luxembourgish. The model can be used to translate entire recordings for various mediums, including theatre, film, or music, from English into Luxembourgish text – for example, in the form of film subtitles.
Gcore is currently working on enabling real-time translations for use during conferences and events. The company’s future plans also include adding other commonly used languages in Luxembourg, such as French and German, to the translation tool, making speech-to-text translation a key mode of cross-language communication.Speech-to-Text Translator is part of Gcore’s state-of-the-art edge AI solutions, which also include GPU Cloud for AI training and Inference at the Edge for AI inference, all powered by NVIDIA GPUs.
Commenting on the award, Andre Reitenbach, CEO of Gcore, said: “We are delighted to receive this recognition from the NVIDIA Partner Network. Aware of the growing demand from the Luxembourgish public, expats, and local businesses for translation from English to Luxembourgish, Gcore is committed to making communication seamless and efficient. Our groundbreaking AI app for speech recognition sets a new standard, demonstrating our leadership in edge AI services. We are honoured to be acknowledged by the NVIDIA Partner Network for our innovative contribution to the AI landscape.”
“AI fosters communication and connection through its ability to translate across languages,” said Dirk Barfuss, Director of EMEA Channel at NVIDIA. “Gcore is recognized as 2024 EMEA NPN Highly Commended in the Industry Innovator category for its achievements in creating the first advanced speech-to-text translation from English to Luxembourgish, powered by NVIDIA GPUs.”
Gcore’s model was built on Whisper Small – the downsized version of the open-source Whisper model, containing 244 million weights. To meet this substantial demand for computing resources, Gcore used a high-end solution powered by the NVIDIA A100 Tensor Core GPU.
The post Gcore Recognised as Highly Commended in the Industry Innovator Category at the EMEA NVIDIA Partner Network Awards appeared first on HIPTHER Alerts.

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CCI Initiates Study on AI’s Influence on Competition, Efficiency, and Innovation

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The Competition Commission of India (CCI) is gearing up to conduct a comprehensive study on the impact of Artificial Intelligence (AI) on competition, efficiency, and innovation.
This initiative comes in response to the growing significance of AI across various sectors. With the aim of fostering innovation and fair competition, the CCI has announced plans to delve into the evolving landscape of AI and its application in Indian markets.
In a recent announcement, the CCI issued a request for proposal to engage an agency to conduct this market study. The study aims to provide insights into the emerging competition dynamics within AI ecosystems, along with assessing the implications of AI applications for competition, efficiency, and innovation across key user industries.
Key focus areas of the study include understanding the AI ecosystem, analyzing its applications in different industries, evaluating its impact on competition within sectors, and examining the regulatory frameworks governing AI development in India and other major jurisdictions.
Additionally, the study will explore strategies for fostering a competitive environment that encourages both incumbent AI developers and new innovators. It will also address measures for creating awareness among stakeholders regarding AI usage and its implications on competition, alongside ensuring compliance with necessary standards.
To facilitate this study, the selected agency will be tasked with collating existing research and data, as well as engaging with relevant stakeholders. The deadline for submission of bids is June 3, with the opening of financial bids scheduled for June 26.
This initiative underscores India’s commitment to understanding and harnessing the potential of AI while ensuring fair competition and promoting innovation. It aligns with the CCI’s broader efforts to address emerging challenges in the digital economy and safeguard competition in the market.
By conducting this study, the CCI aims to equip itself with valuable insights that will inform future regulatory decisions and strategies related to AI development and its impact on competition dynamics in India.
Source: business-standard.com
The post CCI Initiates Study on AI’s Influence on Competition, Efficiency, and Innovation appeared first on HIPTHER Alerts.

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