Technology
FinVolution Group Reports Second Quarter 2024 Unaudited Financial Results
Published
2 years agoon
By
-H1 China Transaction Volume reached RMB92.5 billion, up 6.0% year-over-year-
-H1 International Transaction Volume reached RMB4.5 billion, up 32.4% year-over-year-
-H1 International Revenues increased to RMB1,157.7 million, up 21.9% year-over-year and contributing 18.3% of total net revenues-
SHANGHAI, Aug. 20, 2024 /PRNewswire/ — FinVolution Group (“FinVolution” or the “Company”) (NYSE: FINV), a leading fintech platform, today announced its unaudited financial results for the second quarter ended June 30, 2024.
For the Three Months Ended/As of
YoY
Change
June 30, 2023
June 30, 2024
Total Transaction Volume (RMB in billions)1
47.3
48.7
3.0 %
Transaction Volume (China’s Mainland)2
45.5
46.4
2.0 %
Transaction Volume (International)3
1.8
2.3
27.8 %
Total Outstanding Loan Balance (RMB in billions)
63.7
65.6
3.0 %
Outstanding Loan Balance (China’s Mainland)4
62.6
64.2
2.6 %
Outstanding Loan Balance (International)5
1.1
1.4
27.3 %
Second Quarter 2024 China Market Operational Highlights
Cumulative registered users6 reached 162.2 million as of June 30, 2024, an increase of 8.6% compared with June 30, 2023.Cumulative borrowers7 reached 25.9 million as of June 30, 2024, an increase of 6.1% compared with June 30, 2023.Number of unique borrowers8 for the second quarter of 2024 was 1.8 million, a decrease of 21.7% compared with the same period of 2023.Transaction volume2 reached RMB46.4 billion for the second quarter of 2024, an increase of 2.0% compared with the same period of 2023.Transaction volume facilitated for repeat individual borrowers9 for the second quarter of 2024 was RMB40.5 billion, an increase of 0.5% compared with the same period of 2023.Outstanding loan balance4 reached RMB64.2 billion as of June 30, 2024, an increase of 2.6% compared with June 30, 2023.Average loan size10 was RMB9,956 for the second quarter of 2024, compared with RMB7,816 for the same period of 2023.Average loan tenure11 was 8.0 months for the second quarter of 2024, compared with 8.4 months for the same period of 2023.90 day+ delinquency ratio12 was 2.65% as of June 30, 2024, compared with 1.68% as of June 30, 2023.
Second Quarter 2024 International Market Operational Highlights
Cumulative registered users13 reached 29.1 million as of June 30, 2024, an increase of 46.2% compared with June 30, 2023.Cumulative borrowers14 for the international market reached 5.6 million as of June 30, 2024, an increase of 40.0% compared with June 30, 2023.Number of unique borrowers15 for the second quarter of 2024 was 1.05 million, an increase of 32.9% compared with the same period of 2023.Number of new borrowers16 for the second quarter of 2024 was 0.47 million, an increase of 51.6% compared with the same period of 2023.Transaction volume3 reached RMB2.3 billion for the second quarter of 2024, an increase of 27.8% compared with the same period of 2023.Outstanding loan balance5 reached RMB1.4 billion as of June 30, 2024, an increase of 27.3% compared with June 30, 2023.International business revenue was RMB562.9 million (US$77.5 million) for the second quarter of 2024, an increase of 12.0% compared with the same period of 2023, representing 17.8% of total revenue for the second quarter of 2024.
Second Quarter 2024 Financial Highlights
Net revenue was RMB3,168.0 million (US$435.9 million) for the second quarter of 2024, compared with RMB3,075.7 million for the same period of 2023.Net profit was RMB551.0 million (US$75.8 million) for the second quarter of 2024, compared with RMB590.1 million for the same period of 2023.Non-GAAP adjusted operating income,17 which excludes share-based compensation expenses before tax, was RMB598.6 million (US$82.4 million) for the second quarter of 2024, compared with RMB606.9 million for the same period of 2023.Diluted net profit per American depositary share (“ADS”) was RMB2.07 (US$0.28) and diluted net profit per share was RMB0.41 (US$0.06) for the second quarter of 2024, compared with RMB1.95 and RMB0.39 for the same period of 2023 respectively.Non-GAAP diluted net profit per ADS was RMB2.22 (US$0.30) and non-GAAP diluted net profit per share was RMB0.44 (US$0.06) for the second quarter of 2024, compared with RMB2.06 and RMB0.41 for the same period of 2023 respectively. Each ADS of the Company represents five Class A ordinary shares of the Company.
1 Represents the total transaction volume facilitated in China’s Mainland and the international markets on the Company’s platforms during the period presented.
2 Represents our transaction volume facilitated in China’s Mainland during the period presented. During the second quarter, RMB9.8 billion were facilitated under the capital-light model, for which the Company does not bear principal risk.
3 Represents our transaction volume facilitated in markets outside China’s Mainland during the period presented.
4 Outstanding loan balance (China’s Mainland) as of any date refers to the balance of outstanding loans in China’s Mainland market excluding loans delinquent for more than 180 days from such date. As of June 30, 2024, RMB15.2 billion were facilitated under the capital-light model, for which the Company does not bear principal risk.
5 Outstanding loan balance (international) as of any date refers to the balance of outstanding loans in the international markets excluding loans delinquent for more than 30 days from such date.
6 On a cumulative basis, the total number of users in China’s Mainland market registered on the Company’s platform as of June 30, 2024.
7 On a cumulative basis, the total number of borrowers in China’s Mainland market registered on the Company’s platform as of June 30, 2024.
8 Represents the total number of borrowers in China’s Mainland who have successfully borrowed on the Company’s platform during the period presented.
9 Represents the transaction volume facilitated for repeat borrowers in China’s Mainland who successfully completed a transaction on the Company’s platform during the period presented.
10 Represents the average loan size on the Company’s platform in China’s Mainland during the period presented.
11 Represents the average loan tenor on the Company’s platform in China’s Mainland during the period presented.
12 “90 day+ delinquency ratio” refers to the outstanding principal balance of loans, excluding loans facilitated under the capital-light model, that were 90 to 179 calendar days past due as a percentage of the total outstanding principal balance of loans, excluding loans facilitated under the capital-light model on the Company’s platform as of a specific date. Loans that originated outside China’s Mainland are not included in the calculation.
13 On a cumulative basis, the total number of users registered on the Company’s platforms outside China’s Mainland market as of June 30, 2024.
14 On a cumulative basis, the total number of borrowers on the Company’s platforms outside China’s Mainland market, as of June 30, 2024.
15 Represents the total number of borrowers outside China’s Mainland who have successfully borrowed on the Company platforms during the period presented.
16 Represents the total number of new borrowers outside China’s Mainland whose transactions were facilitated on the Company’s platforms during the period presented.
17 Please refer to “UNAUDITED Reconciliation of GAAP And Non-GAAP Results” for reconciliation between GAAP and Non-GAAP adjusted operating income.
Mr. Tiezheng Li, Chief Executive Officer of FinVolution, commented, “We ended the first half of 2024 on a positive note, driving progressive growth in the China market while maintaining faster growth momentum internationally through strong execution of our Local Excellence, Global Outlook Strategy.
“Cumulatively, we have served around 31.5 million borrowers across China, Indonesia and the Philippines as of June 30, 2024. During the first half of 2024, transaction volume for the China market reached RMB92.5 billion, up 6.0% year-over-year. Transaction volume for the international market continued to grow faster, soaring to RMB4.5 billion, up 32.4% year-over-year. In terms of outstanding balances, the China market reached RMB64.2 billion while our international market reached RMB1.4 billion, up 2.6% and 27.3% respectively year-over-year. This stellar performance stands as a testament to our strategy’s effectiveness,” concluded Mr. Li.
Mr. Jiayuan Xu, FinVolution’s Chief Financial Officer, continued, “Alongside solid operational metrics, our financial performance improved progressively with net revenues for the quarter reaching RMB3,168.0 million (US$435.9 million), up 3.0% year-over-year. Notably, contributions from international revenue grew to RMB562.9 million (US$77.5 million), up 12.0% year-over-year, and representing 17.8% of total revenue. Our total liquidity position remained healthy and robust at RMB8,138.8 million (US$1,119.9 million) as of June 30, 2024.
“As part of our ongoing consistent commitment to return value to shareholders, we deployed approximately US$29.6 million in the second quarter of 2024 to repurchase our shares on the secondary market. In the first half of 2024, we deployed approximately US$56.8 million to repurchase our shares on the secondary market. Since 2018, we have cumulatively returned a total of approximately US$661.8 million to our shareholders through our leading capital return program, underscoring our consistent and sustainable commitment to our shareholders,” concluded Mr. Xu.
Second Quarter 2024 Financial Results
Net revenue for the second quarter of 2024 was RMB3,168.0 million (US$435.9 million), compared with RMB3,075.7 million for the same period of 2023. This increase was primarily due to the increase in guarantee income and other revenue.
Loan facilitation service fees was RMB1,110.5 million (US$152.8 million) for the second quarter of 2024, compared with RMB1,115.0 million for the same period of 2023, remaining stable year-over-year.
Post-facilitation service fees was RMB389.2 million (US$53.6 million) for the second quarter of 2024, compared with RMB488.2 million for the same period of 2023. This decrease was primarily due to the rolling impact of deferred transaction fees.
Guarantee income was RMB1,298.9 million (US$178.7 million) for the second quarter of 2024, compared with RMB1,072.9 million for the same period of 2023. This increase was primarily due to the increased outstanding loan balance of off-balance sheet loans in the international markets, higher guarantee rates and the rolling impact of deferred guarantee income. The fair value of quality assurance commitment upon loan origination is released as guarantee income systematically over the term of the loans subject to quality assurance commitment.
Net interest income was RMB218.8 million (US$30.1 million) for the second quarter of 2024, compared with RMB263.0 million for the same period of 2023. This decrease was primarily due to the decrease in the average outstanding loan balances of on-balance sheet loans in the international markets.
Other revenue was RMB150.5 million (US$20.7 million) for the second quarter of 2024, compared with RMB136.5 million for the same period of 2023. This increase was primarily due to the increase in customer referral fees from the financial institutions along with our Company’s enhanced product and service offerings.
Origination, servicing expenses and other costs of revenue was RMB575.2 million (US$79.2 million) for the second quarter of 2024, compared with RMB516.0 million for the same period of 2023. This increase was primarily due to an increase in the facilitation costs as a result of the higher transaction volume in the international market and an increase in the loan collection expenses as a result of the higher outstanding loan balance.
Sales and marketing expenses was RMB473.3 million (US$65.1 million) for the second quarter of 2024, compared with RMB468.8 million for the same period of 2023, as a result of our more proactive customer acquisition efforts focusing on better quality borrowers, especially in the international markets.
Research and development expenses was RMB119.3 million (US$16.4 million) for the second quarter of 2024, compared with RMB124.6 million for the same period of 2023. This decrease was primarily due to the increase in technology development efficiency.
General and administrative expenses was RMB101.9 million (US$14.0 million) for the second quarter of 2024, compared with RMB90.8 million for the same period of 2023. This increase was primarily due to the increase in employee compensation.
Provision for accounts receivable and contract assets was RMB57.2 million (US$7.9 million) for the second quarter of 2024, compared with RMB67.5 million for the same period of 2023. This decrease was primarily due to the decrease in the outstanding loan balances for which the Company bears credit risks in the China market.
Provision for loans receivable was RMB92.0 million (US$12.7 million) for the second quarter of 2024, compared with RMB159.2 million for the same period of 2023. This decrease was primarily due to the decreases in the loan volume and the outstanding loan balances of on-balance sheet loans in the international markets.
Credit losses for quality assurance commitment was RMB1,190.6 million (US$163.8 million) for the second quarter of 2024, compared with RMB1,073.5 million for the same period of 2023. The increase was primarily due to the growth in the loan volume and the outstanding loan balances of off-balance sheet loans in the international markets.
Operating profit was RMB558.5 million (US$76.9 million) for the second quarter of 2024, compared with RMB575.4 million for the same period of 2023.
Non-GAAP adjusted operating income, which excludes share-based compensation expenses before tax, was RMB598.6 million (US$82.4 million) for the second quarter of 2024, compared with RMB606.9 million for the same period of 2023.
Other income was RMB67.7 million (US$9.3 million) for the second quarter of 2024, compared with RMB119.9 million for the same period of 2023. This decrease was mainly due to the decrease in government subsidies.
Income tax expense was RMB75.2 million (US$10.3 million) for the second quarter of 2024, compared with RMB105.2 million for the same period of 2023. This decrease was mainly due to the decrease in pre-tax profit and the change in the estimated annual effective tax rate.
Net profit was RMB551.0 million (US$75.8 million) for the second quarter of 2024, compared with RMB590.1 million for the same period of 2023.
Net profit attributable to ordinary shareholders of the Company was RMB551.1 million (US$75.8 million) for the second quarter of 2024, compared with RMB554.4 million for the same period of 2023.
Diluted net profit per ADS was RMB2.07 (US$0.28) and diluted net profit per share was RMB0.41 (US$0.06) for the second quarter of 2024, compared with RMB1.95 and RMB0.39 for the same period of 2023 respectively.
Non-GAAP diluted net profit per ADS was RMB2.22 (US$0.30) and non-GAAP diluted net profit per share was RMB0.44 (US$0.06) for the second quarter of 2024, compared with RMB2.06 and RMB0.41 for the same period of 2023 respectively. Each ADS represents five Class A ordinary shares of the Company.
As of June 30, 2024, the Company had cash and cash equivalents of RMB5,705.9 million (US$785.2 million) and short-term investments, mainly in wealth management products and term deposit, of RMB2,432.8 million (US$334.8 million).
The following chart shows the historical cumulative 30-day plus past due delinquency rates by loan origination vintage for loan products facilitated through the Company’s platform in China’s Mainland as of June 30, 2024. Loans facilitated under the capital-light model, for which the Company does not bear principal risk, are excluded from the chart.
Click here to view the chart
Shares Repurchase Update
For the second quarter of 2024, the Company deployed approximately US$29.6 million to repurchase its own Class A ordinary shares in the form of ADSs in the market. During the first half of 2024, the Company has deployed approximately US$56.8 million to repurchase its own Class A ordinary shares in the form of ADSs in the market. As of June 30, 2024, in combination with the Company’s historical and existing share repurchase programs, the Company had cumulatively repurchased its own Class A ordinary shares in the form of ADSs with a total aggregate value of approximately US$336.8 million since 2018.
Business Outlook
While the macroeconomic recovery continued to gain traction with pockets of improvement since the beginning of 2024, uncertainties persist in the markets in which we operate. The Company has observed encouraging signs of recovery and will continue to closely monitor macro conditions across all the markets in which we operate and remain prudent in our business operations. The Company reiterates its full-year 2024 transaction volume guidance for the China market in the range of RMB195.7 billion to RMB205.0 billion, representing year-over-year growth of approximately 5.0% to 10.0%. At the same time, the Company expects its 2024 transaction volume for the international markets to be in the range of RMB9.4 billion to RMB11.0 billion, representing year-over-year growth of approximately 20.0% to 40.0%.
The above forecast is based on the current market conditions and reflects the Company’s current preliminary views and expectations on market and operational conditions and the regulatory and operating environment, as well as customers’ and institutional partners’ demands, all of which are subject to change.
Conference Call
The Company’s management will host an earnings conference call at 8:30 PM U.S. Eastern Time on August 20, 2024 (8:30AM Beijing/Hong Kong Time on August 21, 2024).
Dial-in details for the earnings conference call are as follows:
United States (toll free):
+1-888-346-8982
Canada (toll free):
+1-855-669-9657
International:
+1-412-902-4272
Hong Kong, China (toll free):
800-905-945
Hong Kong, China:
+852-3018-4992
Mainland, China:
400-120-1203
Participants should dial in at least five minutes before the scheduled start time and ask to be connected to the call for “FinVolution Group.”
Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://ir.finvgroup.com.
A replay of the conference call will be accessible approximately one hour after the conclusion of the live call until August 27, 2024, by dialing the following telephone numbers:
United States (toll free):
+1-877-344-7529
Canada (toll free):
+1-855-669-9658
International:
+1-412-317-0088
Replay Access Code:
5663537
About FinVolution Group
FinVolution Group is a leading fintech platform with strong brand recognition in China and the international markets connecting borrowers of the young generation with financial institutions. Established in 2007, the Company is a pioneer in China’s online consumer finance industry and has developed innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company’s platforms, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of June 30, 2024, the Company had over 191.3 million cumulative registered users across China, Indonesia and the Philippines.
For more information, please visit https://ir.finvgroup.com
Use of Non-GAAP Financial Measures
We use non-GAAP adjusted operating income, non-GAAP operating margin, non-GAAP net profit, non-GAAP net profit attributable to FinVolution Group, and non-GAAP basic and diluted net profit per share and per ADS which are non-GAAP financial measures, in evaluating our operating results and for financial and operational decision-making purposes. We believe that these non-GAAP financial measures help identify underlying trends in our business by excluding the impact of share-based compensation expenses and expected discretionary measures. We believe that non-GAAP financial measures provide useful information about our operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.
Non-GAAP adjusted operating income, non-GAAP operating margin, non-GAAP net profit, non-GAAP net profit attributable to FinVolution Group, and non-GAAP basic and diluted net profit per share and per ADS are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as analytical tool, and when assessing our operating performance, cash flows or our liquidity, investors should not consider it in isolation, or as a substitute for net income, cash flows provided by operating activities or other consolidated statements of operation and cash flow data prepared in accordance with U.S. GAAP. The Company encourages investors and others to review our financial information in its entirety and not rely on a single financial measure.
For more information on this non-GAAP financial measure, please see the table captioned “Reconciliations of GAAP and Non-GAAP results” set forth at the end of this press release.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.2672 to US$1.00, the rate in effect as of June 28, 2024 as certified for customs purposes by the Federal Reserve Bank of New York.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in 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,” “target,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company’s ability to attract and retain borrowers and investors on its marketplace, its ability to increase volume of loans facilitated through the Company’s marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, laws, regulations and governmental policies relating to the online consumer finance industry in China, general economic conditions in China, and the Company’s ability to meet the standards necessary to maintain listing of its ADSs on the NYSE, including its ability to cure any non-compliance with the NYSE’s continued listing criteria. 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 as of the date of this press release, and FinVolution does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For investor and media inquiries, please contact:
FinVolution Group
Head of Investor Relations
Jimmy Tan, IRC
Tel: +86 (21) 8030-3200 Ext. 8601
E-mail: ir@xinye.com
Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: finv@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: finv@tpg-ir.com
FinVolution Group
UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
(All amounts in thousands, except share data, or otherwise noted)
As of December 31,
As of June 30,
2023
2024
RMB
RMB
USD
Assets
Cash and cash equivalents
4,969,319
5,705,919
785,161
Restricted cash
1,800,071
1,770,810
243,672
Short-term investments
2,960,821
2,432,848
334,771
Investments
1,135,133
1,157,891
159,331
Quality assurance receivable, net of credit loss allowance for
quality assurance receivable of RMB529,392 and
RMB508,429 as of December 31, 2023 and June 30, 2024,
respectively
1,755,615
1,788,655
246,127
Intangible assets
98,692
137,298
18,893
Property, equipment and software, net
140,933
641,800
88,315
Loans receivable, net of credit loss allowance for loans receivable
of RMB214,550 and RMB215,148 as of December 31, 2023 and
June 30, 2024, respectively
1,127,388
1,657,087
228,023
Accounts receivable and contract assets, net of credit loss
allowance for accounts receivable and contract assets of
RMB310,394 and RMB273,328 as of December 31, 2023 and
June 30, 2024, respectively
2,208,538
2,376,816
327,061
Deferred tax assets
1,624,325
2,177,877
299,686
Right of use assets
38,110
28,740
3,955
Prepaid expenses and other assets
3,384,317
2,027,796
279,034
Goodwill
50,411
50,411
6,937
Total assets
21,293,673
21,953,948
3,020,966
Liabilities and Shareholders’ Equity
Deferred guarantee income
1,882,036
1,709,242
235,200
Liability from quality assurance commitment
3,306,132
3,051,660
419,922
Payroll and welfare payable
261,528
202,035
27,801
Taxes payable
207,477
489,970
67,422
Short-term borrowings
5,756
5,468
752
Funds payable to investors of consolidated trusts
436,352
509,356
70,090
Contract liability
5,109
5,109
703
Deferred tax liabilities
340,608
368,209
50,667
Accrued expenses and other liabilities
941,899
1,206,821
166,064
Leasing liabilities
35,878
30,839
4,244
Total liabilities
7,422,775
7,578,709
1,042,865
Commitments and contingencies
FinVolution Group Shareholders’ equity
Ordinary shares
103
103
14
Additional paid-in capital
5,748,734
5,773,446
794,453
Treasury stock
(1,199,683)
(1,558,855)
(214,506)
Statutory reserves
762,472
762,472
104,920
Accumulated other comprehensive income
80,006
43,215
5,948
Retained Earnings
8,357,153
8,994,668
1,237,708
Total FinVolution Group shareholders’ equity
13,748,785
14,015,049
1,928,537
Non-controlling interest
122,113
360,190
49,564
Total shareholders’ equity
13,870,898
14,375,239
1,978,101
Total liabilities and shareholders’ equity
21,293,673
21,953,948
3,020,966
FinVolution Group
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
INCOME
(All amounts in thousands, except share data, or otherwise noted)
For the Three Months Ended June 30,
For the Six Months Ended June 30,
2023
2024
2023
2024
RMB
RMB
USD
RMB
RMB
USD
Operating revenue:
Loan facilitation service fees
1,115,041
1,110,528
152,814
2,283,294
2,096,468
288,484
Post-facilitation service fees
488,187
389,236
53,561
975,358
854,428
117,573
Guarantee income
1,072,913
1,298,927
178,738
2,059,433
2,645,042
363,970
Net interest income
263,047
218,803
30,108
548,679
450,110
61,937
Other Revenue
136,490
150,506
20,710
259,557
287,033
39,497
Net revenue
3,075,678
3,168,000
435,931
6,126,321
6,333,081
871,461
Operating expenses:
Origination, servicing expenses and other cost of
revenue
(515,960)
(575,231)
(79,154)
(1,028,388)
(1,114,786)
(153,400)
Sales and marketing expenses
(468,833)
(473,295)
(65,128)
(865,951)
(922,504)
(126,941)
Research and development expenses
(124,577)
(119,252)
(16,410)
(250,793)
(239,747)
(32,990)
General and administrative expenses
(90,770)
(101,892)
(14,021)
(176,172)
(184,219)
(25,349)
Provision for accounts receivable and contract assets
(67,451)
(57,237)
(7,876)
(130,651)
(122,899)
(16,911)
Provision for loans receivable
(159,189)
(91,988)
(12,658)
(302,505)
(173,273)
(23,843)
Credit losses for quality assurance commitment
(1,073,451)
(1,190,572)
(163,828)
(2,054,134)
(2,388,671)
(328,692)
Total operating expenses
(2,500,231)
(2,609,467)
(359,075)
(4,808,594)
(5,146,099)
(708,126)
Operating profit
575,447
558,533
76,856
1,317,727
1,186,982
163,335
Other income, net
119,901
67,657
9,310
202,678
98,661
13,576
Profit before income tax expense
695,348
626,190
86,166
1,520,405
1,285,643
176,911
Income tax expenses
(105,230)
(75,152)
(10,341)
(240,467)
(202,629)
(27,883)
Net profit
590,118
551,038
75,825
1,279,938
1,083,014
149,028
Net profit attributable to non-controlling interest
shareholders
35,684
(107)
(15)
29,620
4,168
574
Net profit attributable to FinVolution Group
554,434
551,145
75,840
1,250,318
1,078,846
148,454
Foreign currency translation adjustment, net of nil tax
80,703
(47,923)
(6,594)
51,535
(36,791)
(5,063)
Total comprehensive income attributable
to FinVolution Group
635,137
503,222
69,246
1,301,853
1,042,055
143,391
Weighted average number of ordinary shares used in
computing net income per share
Basic
1,387,090,179
1,298,653,314
1,298,653,314
1,398,767,090
1,305,081,766
1,305,081,766
Diluted
1,423,975,798
1,334,219,839
1,334,219,839
1,430,367,809
1,337,706,499
1,337,706,499
Net profit per share attributable to FinVolution
Group’s ordinary shareholders
Basic
0.40
0.42
0.06
0.89
0.83
0.11
Diluted
0.39
0.41
0.06
0.87
0.81
0.11
Net profit per ADS attributable to FinVolution
Group’s ordinary shareholders (one ADS equal
five ordinary shares)
Basic
2.00
2.12
0.29
4.47
4.13
0.57
Diluted
1.95
2.07
0.28
4.37
4.03
0.55
FinVolution Group
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(All amounts in thousands, except share data, or otherwise noted)
Three Months Ended June 30,
Six Months Ended June 30,
2023
2024
2023
2024
RMB
RMB
USD
RMB
RMB
USD
Net cash provided by operating
activities
506,617
965,313
132,831
1,178,903
1,159,778
159,591
Net cash provided by/(used in)
investing activities
(880,715)
(577,516)
(79,469)
925,171
348,029
47,890
Net cash used in financing activities
(518,630)
(479,769)
(66,018)
(1,405,346)
(770,917)
(106,082)
Effect of exchange rate changes on
cash and cash equivalents
65,202
(21,347)
(2,936)
38,799
(29,551)
(4,065)
Net increase in cash, cash equivalent
and restricted cash
(827,526)
(113,319)
(15,592)
737,527
707,339
97,334
Cash, cash equivalent and restricted
cash at beginning of period
8,044,140
7,590,048
1,044,425
6,479,087
6,769,390
931,499
Cash, cash equivalent and restricted
cash at end of period
7,216,614
7,476,729
1,028,833
7,216,614
7,476,729
1,028,833
FinVolution Group
UNAUDITED Reconciliation of GAAP and Non-GAAP Results
(All amounts in thousands, except share data, or otherwise noted)
For the Three Months Ended June 30,
For the Six Months Ended June 30,
2023
2024
2023
2024
RMB
RMB
USD
RMB
RMB
USD
Net Revenues
3,075,678
3,168,000
435,931
6,126,321
6,333,081
871,461
Less: total operating expenses
(2,500,231)
(2,609,467)
(359,075)
(4,808,594)
(5,146,099)
(708,126)
Operating Income
575,447
558,533
76,856
1,317,727
1,186,982
163,335
Add: share-based compensation expenses
31,457
40,100
5,518
51,816
70,389
9,686
Non-GAAP adjusted operating income
606,904
598,633
82,374
1,369,543
1,257,371
173,021
Operating Margin
18.7 %
17.6 %
17.6 %
21.5 %
18.7 %
18.7 %
Non-GAAP operating margin
19.7 %
18.9 %
18.9 %
22.4 %
19.9 %
19.9 %
Non-GAAP adjusted operating income
606,904
598,633
82,374
1,369,543
1,257,371
173,021
Add: other income, net
119,901
67,657
9,310
202,678
98,661
13,576
Less: income tax expenses
(105,230)
(75,152)
(10,341)
(240,467)
(202,629)
(27,883)
Non-GAAP net profit
621,575
591,138
81,343
1,331,754
1,153,403
158,714
Net profit attributable to non-controlling interest
shareholders
35,684
(107)
(15)
29,620
4,168
574
Non-GAAP net profit attributable to FinVolution
Group
585,891
591,245
81,358
1,302,134
1,149,235
158,140
Weighted average number of ordinary shares used in
computing net income per share
Basic
1,387,090,179
1,298,653,314
1,298,653,314
1,398,767,090
1,305,081,766
1,305,081,766
Diluted
1,423,975,798
1,334,219,839
1,334,219,839
1,430,367,809
1,337,706,499
1,337,706,499
Non-GAAP net profit per share attributable to
FinVolution Group’s ordinary shareholders
Basic
0.42
0.46
0.06
0.93
0.88
0.12
Diluted
0.41
0.44
0.06
0.91
0.86
0.12
Non-GAAP net profit per ADS attributable to
FinVolution Group’s ordinary shareholders (one ADS
equal five ordinary shares)
Basic
2.11
2.28
0.31
4.65
4.40
0.61
Diluted
2.06
2.22
0.30
4.55
4.30
0.59
View original content:https://www.prnewswire.com/news-releases/finvolution-group-reports-second-quarter-2024-unaudited-financial-results-302226436.html
SOURCE FinVolution Group
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Wenge AI Launches ScienceOra on Tencent WorkBuddy, Making Specialized Research AI More Accessible
Published
58 minutes agoon
October 27, 2026By
BEIJING, Oct. 27, 2026 /PRNewswire/ — Wenge AI launched ScienceOra, its research and decision-support platform, on Tencent WorkBuddy, making more than 30 specialist research agents and skills available to users. The initial offering supports literature analysis, hypothesis development, study design, modeling and simulation, validation, and research communication. Users can access ScienceOra through WorkBuddy’s app discovery section for support across the research process, from exploring a new field to conducting advanced research and making informed scientific decisions.
ScienceOra is powered by the ScienceOne Scientific Foundation Model, which was developed as part of a Chinese Academy of Sciences (CAS)-coordinated initiative. Building on that foundation and on Wenge AI’s long-standing work in scientific data, research tools, and decision AI, ScienceOra brings specialized research knowledge, tools, and agent capabilities into one system, extending AI from knowledge retrieval and content generation to the execution of complex research tasks and support for scientific decision-making.
Covering core scenarios across disciplines
Scientific research involves a great deal of specialized work at every stage, from reviewing the literature and formulating hypotheses to designing experiments, analyzing data, validating findings, and publishing papers. Researchers everywhere face the same questions: how to spot valuable leads in a vast body of literature, how to synthesize scientific evidence and carry complex projects forward, and how to make sound scientific judgments between competing options. ScienceOra on WorkBuddy addresses both general research needs and discipline-specific work, organized around three levels of support — getting started, advanced research, and expert decision-making — for users across disciplines and at different stages of their work.
Getting started in research
At the first level, ScienceOra helps researchers turn a mass of information into a structured understanding of a field. Its agents cover academic literature research, comparative literature analysis, in-depth paper analysis, and literature review mapping; its skills cover literature search, multi-paper comparison, and structured close reading. Together they help researchers trace how a field has developed, compare the core arguments and methods of different studies, and identify research gaps. Beyond finding and summarizing literature, the AI can examine the evidence, conclusions, and limitations of different studies around a specific scientific question, offering reference points for further work.
Advanced research
For advanced research, ScienceOra helps researchers move from analyzing existing knowledge to carrying out specialized tasks. It supports evidence synthesis, study design, and domain-specific data analysis in areas such as systematic reviews and meta-analyses, molecular biology and multi-omics, and drug developability assessment.
In drug development, for example, researchers assessing a candidate molecule’s developability can work with specialist agents to plan experiments, molecular modeling, and simulations, then draw on experimental data to explore validation strategies and opportunities for optimization. ScienceOra also offers manuscript editing, manuscript formatting to meet journal requirements, and research slide deck generation, helping researchers organize, communicate, and present their findings.
Expert decisions
To support expert decision-making, ScienceOra helps researchers weigh scientific evidence and evaluate competing options in rice breeding, materials science, drug development, and research evaluation. Its agents include the Yuandao Siyuan AI breeding scientist, a materials characterization and validation scientist, and an alloy thermodynamics and phase-field simulation scientist.
Yuandao Siyuan is a specialized ScienceOra application for rice breeding. The agent is built on the Yuandao Siyuan intelligent breeding platform, jointly developed by the Hunan Academy of Agricultural Sciences, the Institute of Automation of the Chinese Academy of Sciences, and Wenge AI, and launched this month at the Yuelu Mountain Laboratory in Changsha. The name pays tribute to hybrid-rice pioneer Yuan Longping and evokes the Chinese saying “When drinking water, remember its source.” Drawing on dedicated breeding resources and a knowledge graph, it supports searches for variety approval records and germplasm resources, pedigree tracing, and the tracing of research literature to its sources.
In new materials development, researchers can draw on X-ray diffraction (XRD) phase analysis, structural characterization, and published evidence to compare candidate materials in terms of properties, structural stability, fabrication costs, and potential risks, informing materials selection and subsequent experimental validation.
For research evaluation, a general-purpose reviewer agent and a range of peer-review simulation skills help assess the quality of a study, including its originality, performance against existing benchmarks, methodological rigor, and experimental design. These capabilities help researchers efficiently identify key scientific questions and promising avenues for innovation, supporting the choice of research topics and the evaluation of technical approaches.
Extending decision AI into research workflows
By combining domain knowledge, scientific data, research tools, and agent capabilities, ScienceOra extends research AI beyond question answering and content generation to complex research tasks and decision support. This brings AI into day-to-day research workflows, helping researchers work more efficiently.
This integration with Tencent WorkBuddy is another step in Wenge AI’s effort to make specialized research AI available to more users. Through the WorkBuddy app ecosystem, ScienceOra brings its agents and skills into everyday workflows, giving researchers, university faculty and students, and other learners more convenient access to research AI tools.
Going forward, Wenge AI will continue to expand ScienceOra’s research capabilities and deepen the integration of decision AI into research settings, making scientific knowledge easier to access, research more efficient, and professional decisions better grounded in evidence.
ScienceOra Website: https://www.scienceone.ai/portal/
Website: https://www.wenge.com/
View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/wenge-ai-launches-scienceora-on-tencent-workbuddy-making-specialized-research-ai-more-accessible-302920264.html
SOURCE Wenge AI
Technology
Visa and Marina Bay Precinct Partners – Marina Bay Sands, UOB and Singapore Tourism Board – Present ‘A Moment to Savour’, Bringing International Restaurant Collaborations to Singapore
Published
59 minutes agoon
October 27, 2026By
A series of restaurant collaborations across Marina Bay will bring together celebrated culinary talents and restaurants from Singapore and around the world from November 2026 through March 2027
SINGAPORE, Oct. 27, 2026 /PRNewswire/ — Visa and the Marina Bay precinct partners – Marina Bay Sands, UOB and Singapore Tourism Board (STB) – today announced ‘A Moment to Savour’, a new premium dining programme showcasing Singapore’s vibrant culinary scene through an exclusive series of restaurant collaborations. Launching under the Visa Destinations platform, the collaborations will run from November 2026 to March 2027, pairing renowned restaurants and chefs, from both Marina Bay and around the world, to create distinctive, limited-time dining experiences in the Marina Bay area.
The programme aims to showcase Singapore’s position as a leading global gastronomy hub, while creating compelling new culinary experiences for both visitors and locals to savour, reflecting the city’s diverse and world-class food scene. This experience will be offered to Visa cardholders globally, with pre-sales available to all UOB Visa cardholders and Visa Infinite cardholders.
‘A Moment to Savour’ is launching in Marina Bay as the precinct brings together the full spectrum of Singapore’s visitor appeal – from iconic attractions and world-class dining to premium shopping and entertainment, making it a natural setting to showcase distinctive culinary experiences that can be enjoyed as part of a broader destination journey.
The series will make its debut at Marina Bay Sands with an exclusive two-night dinner, underscoring the integrated resort’s position as a leading culinary destination and platform for world-class collaborations. The experience will bring together the team from one-Michelin-starred Waku Ghin and two-Michelin-starred MOSU Seoul, helmed by Chef Anh Sung Jae, who also served as a head judge on Netflix’s Culinary Class Wars.
The full list of dining collaborations over the period include:
November 2026
Waku Ghin (Marina Bay Sands) and MOSU Seoul, Chef Anh Sung-Jae
December 2026
Jin Ting Wan 金蜓湾 (Marina Bay Sands), Chef Albert Li and Jing Xi Hui (菁禧荟), Chef Du Jianqing
黑珍珠 The Black Pearl (Odeon 333), Chef Dee Chan with seven guest chefs from leading restaurants across China (16-hands collaboration)
Labyrinth (Esplanade Mall), Chef Han Li Guang and Masque, Chef Varun Totlani
January 2027
Saint Pierre (One Fullerton), Chef Emmanuel Stroobant and Taian Table, Chef Christiaan Stoop
February 2027
Peach Blossoms (PARKROYAL COLLECTION, Marina Bay, Singapore), Chef Edward Chong with
Nusara, Chef Thitid “Ton” Tassanakajohn and Asia’s Best Pastry Chef 2025, Chef Dej Kewkacha (six-hands collaboration)
March 2027
JAAN by Kirk Westaway (Swissôtel The Stamford Singapore), Chef Kirk Westaway and NOBUO, Chef Nobu Lee
Odette (National Gallery Singapore), Chef Julien Royer and L’air du Temps, Chef San Degeimbre
1887 by André (Raffles Singapore), Chef André Chiang and visiting chef to be confirmed
UOB Visa cardholders in Singapore and across Southeast Asia will receive exclusive priority presale access to all ‘A Moment to Savour’ dining experiences, followed by a presale for all Visa Infinite cards and general sales for Visa cardholders globally. Bookings for the November and December sessions open from 28 October 2026, with limited seats that are subject to availability.
UOB Reserve and Visa Infinite Presale: 28 October 2026, 10am to 4pmUOB Visa Cards Presale: 28 October 2026, 6pm to 29 October 2026, 10amAll global Visa Infinite Cards Presale: 29 October 2026, 12pm to 30 October 2026, 12pmAll global Visa Cards: From 30 October 2026, 2pm onwards
All timings are in SGT.
With exclusive privileges across hotels, dining and attractions as part of the Marina Bay precinct partnership, UOB cardholders can pair their moments to savour with exceptional entertainment and destination propositions only available in the Bay, extending their adventures beyond the dining table to create unforgettable experiences in the precinct. As Visa’s largest card issuer in Southeast Asia[1], this latest partnership also reinforces UOB’s leadership position in the lifestyle and dining space, while leveraging the Bank’s extensive presence and deep customer base in the region especially among the affluent, to drive inbound tourism into Singapore.
“We recently announced the launch of Visa Destinations Singapore, a platform designed to bring together curated experiences and privileges that help visitors discover more of what the city has to offer,” said Adeline Kim, Group Country Manager for Regional Southeast Asia & SVP, Global Clients, Asia Pacific, Visa. “Presented as part of the initiatives under Visa Destinations, ‘A Moment to Savour’ reflects the importance of creating meaningful experiences around the passions that drive travel. With dining continuing to be a significant area of traveller spend and a powerful reason for people to explore a destination, this programme brings exceptional local and international culinary talent together to celebrate the flavours that make Singapore distinctive and strengthen its appeal as one of the world’s leading culinary destinations.”
“Marina Bay’s potential lies in the collective strength of the partners that contribute to its vibrancy. Through our continued partnership with the Singapore Tourism Board and UOB, and with Visa now joining us to elevate the Bay’s culinary offering, ‘A Moment to Savour’ marks another meaningful step in our shared ambition for the precinct,” said Irene Lin, Senior Vice President and Chief Marketing Officer, Resort Marketing at Marina Bay Sands. “By bringing celebrated local and international culinary talent to the Bay, we hope to create distinctive experiences that inspire visitors to discover Singapore’s dynamic dining scene, while strengthening Marina Bay’s position as a leading lifestyle destination on the global stage.”
“‘A Moment to Savour’ is the latest centrepiece of UOB’s feast of dining propositions, with our cardholders first in line to these eclectic and unprecedented experiences from the pinnacle of the gastronomic world. This collaboration with Visa not only reinforces UOB’s regional leadership in the lifestyle space, it also builds on the longstanding success of the Marina Bay precinct partnership to cement Singapore’s reputation as a seminal tourist destination globally. The programme also showcases our ability to bring together like-minded partners in collaborations that synergise the strengths of all parties to create unique and exceptional experiences for our more than eight million customers that money cannot buy,” said Jacquelyn Tan, Head, Group Personal Financial Services, UOB.
“Singapore has long been celebrated for its extraordinary food culture, and ‘A Moment to Savour’ is a wonderful reflection of what makes our culinary scene truly world-class – the ability to bring together the best of local and international talent in one destination. Programmes like this not only create memorable experiences for visitors and locals but also reinforce Singapore’s position as a destination where the world’s finest culinary experiences converge. We are delighted to partner with Visa, together with our precinct partners Marina Bay Sands and UOB to bring this series to life, and look forward to welcoming food lovers from around the world to the Marina Bay precinct,” said Kenneth Lim, Assistant Chief Executive, Marketing Group, Singapore Tourism Board.
For reservations and more details, visit destinations.visa.com/singapore. Details for the 2027 chef collaborations will be announced at a later date.
[1] Largest card issuer by total billings
About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, sellers, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
About UOB
UOB is a leading Asian bank with a global network in Southeast Asia, Asia Pacific, Europe and North America. Operating through our head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, we have a global network of about 430 branches and offices in 19 markets.
Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. Today, UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings.
For more than nine decades, UOB has adopted a customer-centric approach to create long-term value by staying relevant through its enterprising spirit and doing right by its customers. UOB is focused on building the future of ASEAN – for the people and businesses within, and connecting with, ASEAN.
The Bank connects businesses to opportunities in the region with its unparalleled regional footprint and leverages data and insights to innovate and create personalised banking experiences and solutions catering to each customer’s unique needs and evolving preferences. UOB is also committed to help businesses forge a sustainable future, by fostering social inclusiveness, creating positive environmental impact and pursuing economic progress. UOB believes in being a responsible financial services provider and is steadfast in its support of education, children and art, doing right by its communities and stakeholders.
About Marina Bay Sands Pte Ltd
Since its opening in 2010, Marina Bay Sands has stood as an architectural marvel and the crown jewel in Singapore’s skyline. Home to the world’s most spectacular rooftop infinity pool and approximately 1,850 rooms and suites, the integrated resort offers exceptional dining, shopping, meeting and entertainment choices, complete with a year-round calendar of signature events.
Marina Bay Sands is dedicated to being a good corporate citizen to serve its people, communities and environment. It drives social impact through its community engagement programme, Sands Cares, and leads environmental stewardship through its global sustainability programme, Sands ECO360.
For more information, please visit www.marinabaysands.com.
About the Singapore Tourism Board
The Singapore Tourism Board (STB) is the lead development agency for tourism, one of Singapore’s key economic sectors. Together with industry partners and the community, we shape a dynamic Singapore tourism landscape. We bring the Passion Made Possible brand to life by differentiating Singapore as a vibrant destination that inspires people to share and deepen their passions.
More: www.stb.gov.sg or www.visitsingapore.com | Follow us: STB LinkedIn, STB Facebook or STB Instagram
View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/visa-and-marina-bay-precinct-partners—marina-bay-sands-uob-and-singapore-tourism-board—present-a-moment-to-savour-bringing-international-restaurant-collaborations-to-singapore-302920274.html
SOURCE Visa
Technology
KaarTech Introduces KEOS to Help Enterprises Scale AI Across Business Operations
Published
59 minutes agoon
October 27, 2026By
KEOS combines enterprise intelligence and governed AI execution across four offerings: AI-led Transformation, Enterprise AI, Phygital and AI For Growth.
CHENNAI, India, Oct. 27, 2026 /PRNewswire/ — KaarTech today announced KEOS, an operating layer for enterprise intelligence designed to help organisations move beyond isolated AI initiatives and embed intelligence across their business. KEOS connects enterprise systems, knowledge and operational context to help organisations make informed decisions and deploy governed AI agents at scale.
As AI adoption expands, enterprises face a common challenge: disconnected systems and fragmented business knowledge prevent AI from understanding how the organisation works. KEOS addresses this by building a shared understanding of enterprise processes, data and assets, providing the context AI needs to support decisions and execute actions within defined controls.
KEOS brings together enterprise discovery, an ontology and knowledge graph, and a Context Lake that combines enterprise knowledge with operational memory. Together, these capabilities form an Enterprise Digital Twin, a living representation of how the organisation operates. An Agent Factory and Enterprise Agent OS build on this foundation to create, orchestrate and operate governed AI agents.
Ratnakumar Nagarajan, CAIO, KaarTech, said:
“Each part of the business has different requirements, but all need reliable context and clear controls. KEOS provides a common architecture that teams can extend to their domain. They can start with a defined use case, validate how agents perform and expand as they establish value.”
KEOS delivers this vision through four offerings:
AI-led Transformation: Embeds specialised AI agents across the SAP Activate lifecycle, from landscape discovery and AI readiness assessment to migration, testing and ongoing operations. The offering helps organisations accelerate transformation while maintaining visibility and control over agent activity.Enterprise AI: Brings enterprise data, AI infrastructure, security and governance together to support contextual AI across applications and operations. It helps organisations establish AI foundations aligned with their sovereignty, deployment and data requirements.Phygital: Connects physical assets and field operations with AI through sensor, operational and enterprise data. Applications include predictive maintenance, digital twins and connected-worker copilots that support maintenance and safety decisions.AI For Growth: Applies AI across marketing, sales and commercial operations, including forecasting, pricing, customer expansion and aftermarket services. It helps organisations connect fragmented workflows and use business intelligence to identify revenue opportunities and improve execution.
KaarTech supports KEOS adoption through its Forward Deployed Engineer (FDE) model, with more than 500 FDEs as of October 2026. The company plans to transition 100% of its employees into FDE roles by March 2027, extending this delivery model across its workforce.
Across these offerings, KEOS connects information from enterprise applications such as ERP, CRM and supply chain systems with operational technology, engineering models, documents and external intelligence. This shared business context allows organisations to extend AI across use cases without rebuilding enterprise understanding for each application.
Governance forms part of the KEOS architecture through a common control plane covering identity, access policies, data privacy, auditability and human approval. Evaluation and observability capabilities support oversight of AI behaviour and operating costs, helping organisations define what AI can access, which actions it can take and when people must remain involved.
Organisations can adopt KEOS within one business domain, establish enterprise understanding and initial governed agents, and then expand across additional workflows. Deployment options include customer-cloud environments, isolated air-gapped environments and region-pinned SaaS, selected according to customer policies and data requirements.
About KaarTech
KaarTech is a global AI-led enterprise transformation firm with more than two decades of experience helping organisations modernise their businesses. With over 3,000 professionals across 15 global locations, KaarTech has delivered more than 3,300 projects for 450+ customers across North America, Europe, APAC and the Middle East. The company helps enterprises embed AI into business processes, improve operations and unlock new growth opportunities, combining enterprise expertise, AI innovation and proven delivery capabilities.
For more information, visit www.kaartech.com.
Contact Details: Shrilaxmi N M | Email: nshrilaxmi@kaartech.com
View original content to download multimedia:https://www.prnewswire.com/in/news-releases/kaartech-introduces-keos-to-help-enterprises-scale-ai-across-business-operations-302920284.html
Wenge AI Launches ScienceOra on Tencent WorkBuddy, Making Specialized Research AI More Accessible
Visa and Marina Bay Precinct Partners – Marina Bay Sands, UOB and Singapore Tourism Board – Present ‘A Moment to Savour’, Bringing International Restaurant Collaborations to Singapore
KaarTech Introduces KEOS to Help Enterprises Scale AI Across Business Operations
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