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Neusoft Education Technology Co. Limited Announces 2023 Annual Results

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Neusoft Education Technology Co. Limited (“Neusoft Education” or the “Group“, stock code: 9616.HK) is pleased to announce the annual results of the Group for the year ended 31 December 2023 (the “Reporting Period“).
In 2023, in line with the development trend of China’s education informatisation, digitalisation and intelligentisation, Neusoft Education kept on track of connotative development subject to high-quality school operation, strived to build and carry out the 4S characteristic service model, in order to enable client colleges and universities to improve their quality and thus providing diversified services for the lifelong learning, and to provide professional capacity improvement of other institutions and individual learners in the meantime. The group’s various businesses maintained steady development, with annual revenue of approximately RMB 1.806 billion, a year-on-year increase of 16.6%; gross profit of approximately RMB 865 million, a year-on-year increase of 29.7%; adjusted net profit attributable to the company’s owners was approximately RMB 429 million, a year-on-year increase 12.6%; basic earnings per share were RMB 0.66, a year-on-year increase of 11.9%. The dividend payout ratio was significantly increased in 2023, with the dividend per share increasing by 121.8% year-on-year to 36.6 Hong Kong cents.
Continue to optimize the integration of industry and education and innovate, the formal education business developed steadily.In 2023, the comprehensive strength and brand influence of the three universities operated by Neusoft Education in Dalian, Chengdu and Guangdong had been further improved, attracting more high-quality students while maintaining a high registration rate. The total number of student enrolment in three universities reached nearly 57,000 after the competition of their enrolment, hitting a record high in size. Dalian University received the first prize of national-level teaching achievement award, which is the only national- level teaching achievement that was received in vocational education in Liaoning Province this time. In addition, public data from the employment management system of the education administration department, as of 31 December 2023, the implementation rate of their destination after graduation of the 2023 graduates of Dalian University and Chengdu University both exceeded 95%, and that of Guangdong University reached 90%. This once again demonstrated Neusoft Education’s continued high-quality connotative development and innovative integration of industry and education.
Technology empowerment provides strong support and further provide support for the expansion of Two Strategic Businesses.In 2023, following the digital transformation trend of education and the main line of technology empowering education, based on our practice and school-running accumulation of over 20 years in the IT field. The group had researched and developed a series of digital education products and accordingly built comprehensive product portfolio covering platforms, content, software and hardware, which provided a strong support for the expansion of Two Strategic Businesses.
In 2023, Neusoft Education launched the first Meta-Universe Intelligent Healthcare Future Education Platform (元宇宙智慧康养未来教育平台) in China. The company also launched a series of software of Neusoft Education Intelligence Training Systems (东软智汇训练系统) and received widely attention from dozens of universities across the country. Based on the integration and upgrading of original practical training laboratories, Neusoft Education newly launched several practical training laboratories including Driverless Training Laboratory, E-commerce Big Data Training Laboratory and Traffic Big Data Training Laboratory, forming 23 practical training laboratories for ten academic majors. Neusoft Education provided a well-developed integrated solution for practical training of academic majors. To give full play to the advantages of OMO education model, the Group has developed and launched several online education platforms mainly based on Neusoft Education Online around the core or our self-developed products, forming an online and offline education ecology of “online courses + practical training + employment and entrepreneurship”. As of 31 December 2023, the number of registered users and course learning users on Neusoft Education Online were over 1.7 million and over 150,000, respectively.
Through cooperation relying on Neusoft Education characteristic 4S product service system, during the Reporting Period, the company sold 112 sets of education platforms and 19 sets of training laboratories to 104 colleges and universities; also, company has deepened the joint establishment cooperation on academic majors of larger scale and higher profit. Neusoft Education has been in cooperation with 62 colleges and universities on joint establishment of industrial colleges and academic majors, with a total of 280 cooperation projects, covering approximately 24,000 students.
In 2023, the Group deepened and expanded the continuing education service business. The 2B training business has obtained more than 70 national, provincial, and municipal training base qualifications, and implemented 166 2B training programmes for 70 institutions in 20 provincial regions across the country, covering approximately 25,000 trainees, more than three times of the number of trainees in 2022. The Group continued to expand the brand radiation of 2C training business and the mode of OMO delivery, which provided training services for approximately 25,000 trainees. In addition, the Group has successfully been approved as one of the first batch of pilot units for the construction of a national-level university for the elderly and co-construction units of National Elderly University.
Policy support has been stepped up, and the future of the industry is promising.Driven by the country’s vigorous implementation of the educational digitalisation strategy, vocational education has ushered in multiple favorable policies. The growing rapidly “silver economy” is giving birth to a broad market space for health care and elderly education. Facing the future, the Group will build a new integrated ecosystem of “education + technology + medical care” and is committed to becoming China’s leading education and health technology innovation service provider. The Group will strengthen the main business, the formal education business, establishing a cluster of advantageous majors focusing on “IT + Digital Media + Smart Elderly Care” to cultivate high-quality digital talents who possess a sense of social responsibility, innovative spirit, international vision and strong practical ability. Expand Two Strategic Businesses, the output of educational resources and continuing education services, build an intelligent education platform, a digital creative platform and an intelligent health care platform that integrates both 2B and 2C training services, innovate and improve product and service solutions based on the 4S service model, develop and optimise various educational resources, aiming to drive the scale development of Two Strategic Businesses. Actively expand the fields of elderly education and elderly health care, closely integrate the personalized needs of the elderly in the fields of learning, socialization and health, and create a new model of elderly education with the characteristic “LIFECARES”, forming an innovative ecosystem in which education, medical care and elderly care are highly interactive, shared and integrated.
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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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