Technology
51Talk Online Education Group Announces Second Quarter 2024 Results
Published
2 years agoon
By
SINGAPORE, Aug. 23, 2024 /PRNewswire/ — 51Talk Online Education Group (“51Talk” or the “Company”) (NYSE American: COE), a global online education platform with core expertise in English education, announced its unaudited results for the second quarter ended June 30, 2024.
Second Quarter 2024 Financial and Operating Highlights
Gross billings1 for the second quarter of 2024 were US$15.9 million, a 61.3% growth from the second quarter of 2023.
Net revenues were US$11.0 million for the second quarter of 2024, a 75.1% increase from US$6.3 million for the second quarter of 2023.
The number of quarterly active students with attended lesson consumption was approximately 54,400 in the second quarter of 2024, representing a 83.2% increase from approximately 29,700 for the second quarter of 2023.
Key Financial and Operating Data
For the three months ended
June 30,
June 30,
Y-o-Y
2023
2024
Change
Net Revenues (in US$ millions)
6.3
11.0
75.1 %
Gross Margin
78.4 %
78.1 %
-0.3ppt
Gross Billings (in US$ millions)
9.8
15.9
61.3 %
Active students with attended lesson consumption2
(in thousands)
29.7
54.4
83.2 %
“We have achieved strong growth in Q2, exceeding our Q2 guidance, and anticipate sustained momentum in the foreseeable future, as reflected in our Q3 guidance. Our strategic investments across a diverse portfolio of markets are yielding positive results, propelling us towards our objective of becoming a globally leading EdTech company.” stated Jack Jiajia Huang, Founder, Chairman, and Chief Executive Officer of 51Talk.
“Through our localization efforts, we have gained a deeper understanding of individual markets, allowing us to meet specific local needs. This approach has improved our product market fit. Additionally, we actively explore new market opportunities that align with our strategic direction and existing product offerings.”
“Our strategy hinges on global expansion based on local needs and platform strength enabled by AI. We make targeted investments to enhance team efficiency and local customer experience, aiming to drive higher retention rates and more customer referrals.” Jack Jiajia Huang concluded.
1 Gross billings for a specific period, which is one of the Company’s key operating data, is defined as the total amount of cash received and receivable from third party payment platforms for the sale of course packages and services in such period, net of the total amount of refunds in such period. The gross billings data included herein was from the Company’s business system and converted with quarterly corresponding exchange rate, which may lead to differences with bank records
2 An “active student with attended lesson consumption” for a given period refers to a student who attended at least one paid lesson, excluding those students who only attended paid live broadcasting lessons or trial lessons.
Second Quarter 2024 Financial Results
Net Revenues and Gross Margin
Net revenues for the second quarter of 2024 were US$11.0 million, a 75.1% increase from US$6.3 million for the same quarter last year. The number of active students with attended lesson consumption was approximately 54,400 in the second quarter of 2024, a 83.2% increase from 29,700 for the same quarter last year.
Cost of revenues for the second quarter of 2024 was US$2.4 million, a 77.3% increase from US$1.4 million for the same quarter last year. The increase was primarily due to the increase in total service fees paid to teachers, mainly resulting from an increased number of paid lessons.
Gross profit for the second quarter of 2024 was US$8.6 million, a 74.5% increase from US$4.9 million for the same quarter last year.
Gross margin for the second quarter of 2024 was 78.1%, compared with 78.4% for the same quarter last year.
Operating Expenses
Total operating expenses for the second quarter of 2024 were US$11.0 million, a 39.7% increase from US$7.9 million for the same quarter last year. The increase was mainly due to the increase in sales and marketing expenses.
Sales and marketing expenses for the second quarter of 2024 were US$7.3 million, a 43.6% increase from US$5.1 million for the same quarter last year. The increase was mainly due to higher sales personnel costs related to increases in the number of sales and marketing personnel. Excluding share-based compensation expenses, non-GAAP sales and marketing expenses for the second quarter of 2024 were US$7.3 million, a 44.0% increase from US$5.1 million for the same quarter last year.
Product development expenses for the second quarter of 2024 were US$0.9 million, a 22.6% increase from US$0.7 million for the same quarter last year. The increase was primarily due to higher product development personnel costs. Excluding share-based compensation expenses, non-GAAP product development expenses for the second quarter of 2024 were US$0.8 million, a 25.7% increase from US$0.7 million for the same quarter last year.
General and administrative expenses for the second quarter of 2024 were US$2.8 million, a 35.8% increase from US$2.1 million for the same quarter last year. The increase was primarily due to higher general and administrative personnel costs. Excluding share-based compensation expenses, non-GAAP general and administrative expenses for the second quarter of 2024 were US$2.6 million, a 35.4% increase from US$1.9 million for the same quarter last year.
Loss from Operations
Operating loss for the second quarter of 2024 was US$2.4 million, compared with operating loss of US$3.0 million for the same quarter last year.
Non-GAAP operating loss for the second quarter of 2024 was US$2.2 million, compared with non-GAAP operating loss of US$2.8 million for the same quarter last year.
Net loss attributable to the Company’s ordinary shareholders
Net loss attributable to the Company’s ordinary shareholders for the second quarter of 2024 was US$1.2 million, compared with net loss of US$2.9 million for the same quarter last year.
Excluding share-based compensation expenses of US$0.2 million, non-GAAP net loss for the second quarter of 2024 was US$1.0 million, compared with non-GAAP net loss of US$2.7 million for the same quarter last year.
Basic and diluted net loss per share attributable to ordinary shareholders for the second quarter of 2024 was US$0.004, compared with basic and diluted net loss per share of US$0.01 for the same quarter last year.
Excluding share-based compensation expenses of US$0.2 million, non-GAAP basic and diluted net loss per share attributable to ordinary shareholders for the second quarter of 2024 was US$0.003, compared with non-GAAP basic and diluted net loss per share attributable to ordinary shareholders of US$0.01 for the same quarter last year.
Basic and diluted net loss per American depositary share (“ADS”) attributable to ordinary shareholders for the second quarter of 2024 was US$0.22, compared with basic and diluted net loss per ADS of US$0.51 for the same quarter last year. Each ADS represents 60 Class A ordinary shares.
Excluding share-based compensation expenses of US$0.2 million, non-GAAP basic and diluted net loss per ADS attributable to ordinary shareholders for the second quarter of 2024 was US$0.18, compared with non-GAAP basic and diluted net loss per ADS attributable to ordinary shareholders of US$0.48 for the same quarter last year.
Balance Sheet
As of June 30, 2024, the Company had total cash, cash equivalents and time deposits of US$21.0 million, compared with US$23.4 million as of December 31, 2023.
The Company had advances from students3 of US$34.5 million as of June 30, 2024, compared with US$27.2 million as of December 31, 2023.
3 “Advances from students” is defined as the amount of obligation to transfer goods or service to students or business partners for which consideration has been received from students in advance. The deposits from students are also presented in the total amount of “advances from students”
Outlook
For the third quarter of 2024, the Company currently expects net gross billings to be between $17.0 million and $18.0 million, which would represent a sequential growth of 7.2% to 13.5%.
The foregoing outlook is based on current market conditions and reflects the Company’s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.
Conference Call
The Company’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on August 23, 2024 (8:00 PM Singapore/Hong Kong time on August 23, 2024).
Dial-in details for the earnings conference call are as follows:
United States (toll free):
1-888-346-8982
International:
1-412-902-4272
Singapore (toll free):
800-120-6157
Mainland China (toll free):
4001-201203
Hong Kong (toll free):
800-905945
Hong Kong (local toll):
852-301-84992
Participants should dial-in at least 5 minutes before the scheduled start time and ask to be connected to the call for “51Talk Online Education Group.”
Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at http://ir.51talk.com.
A replay of the conference call will be accessible until August 30, 2024, by dialing the following telephone numbers:
United States (toll free):
1-877-344-7529
International:
1-412-317-0088
Replay Access Code:
1167367
About 51Talk Online Education Group
51Talk Online Education Group (NYSE American: COE) is a global online education platform with core expertise in English education. The Company’s mission is to make quality education accessible and affordable. The Company’s online and mobile education platforms enable students to take live interactive English lessons, on demand. The Company connects its students with a large pool of highly qualified teachers that it assembled using a shared economy approach, and employs student and teacher feedback and data analytics to deliver a personalized learning experience to its students.
Use of Non-GAAP Financial Measures
In evaluating its business, 51Talk considers and uses the following measures defined as non-GAAP financial measures by the SEC as supplemental metrics to review and assess its operating performance: non-GAAP sales and marketing expenses, non-GAAP product development expenses, non-GAAP general and administrative expenses, non-GAAP operating expenses, non-GAAP operating income/(loss), non-GAAP net income/(loss), non-GAAP net income/(loss) attributable to ordinary shareholders, and non-GAAP net income/(loss) attributable to ordinary shareholders per share and per ADS. To present each of these non-GAAP measures, the Company excludes share-based compensation expenses. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of non-GAAP measures to the most comparable GAAP measures” set forth at the end of this press release.
51Talk believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance by excluding share-based compensation expenses that may not be indicative of its operating performance from a cash perspective. 51Talk believes that both management and investors benefit from these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to 51Talk’s historical performance. 51Talk computes its non-GAAP financial measures using the same consistent method from quarter to quarter and from period to period. 51Talk believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision-making. A limitation of using non-GAAP measures is that these non-GAAP measures exclude share-based compensation expenses that have been and will continue to be for the foreseeable future a significant recurring expense in the 51Talk’s business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying table at the end of this press release provides more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will”, “expects”, “anticipates”, “aims”, “future”, “intends”, “plans”, “believes”, “estimates”, “likely to” and similar statements. Among other things, 51Talk’s quotations from management in this announcement, as well as 51Talk’s strategic and operational plans, contain forward-looking statements. 51Talk may also make written or oral forward-looking statements in its periodic reports to the Securities and Exchange Commission (“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. Statements that are not historical facts, including statements about 51Talk’s beliefs and expectations, are forward-looking statements. 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: 51Talk’s goals and strategies; 51Talk’s expectations regarding demand for and market acceptance of its brand and platform; 51Talk’s ability to retain and increase its student enrollment; 51Talk’s ability to offer new courses; 51Talk’s ability to engage, train and retain new teachers; 51Talk’s future business development, results of operations and financial condition; 51Talk’s ability to maintain and improve infrastructure necessary to operate its education platform; competition in the online education industry in its international markets; the expected growth of, and trends in, the markets for 51Talk’s course offerings in its international markets; relevant government policies and regulations relating to 51Talk’s corporate structure, business and industry; general economic and business condition in the Philippines, its international markets and elsewhere; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in 51Talk’s filings with the SEC. All information provided in this press release is as of the date of this press release, and 51Talk does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
51TALK ONLINE EDUCATION GROUP
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
As of
Dec. 31,
Jun. 30,
2023
2024
US$
US$
ASSETS
Current assets
Cash and cash equivalents
21,298
16,686
Time deposits
2,091
4,311
Inventory
–
29
Prepaid expenses and other current
assets
6,394
10,424
Total current assets
29,783
31,450
Non-current assets
Property and equipment, net
138
181
Intangible assets, net
92
86
Right-of-use assets
723
1,413
Deferred tax assets
72
69
Other non-current assets
348
340
Total non-current assets
1,373
2,089
Total assets
31,156
33,539
LIABILITIES AND SHAREHOLDERS’
DEFICITS
Current liabilities
Advances from students
27,214
34,497
Accrued expenses and other current
liabilities
6,189
6,353
Amounts due to related parties
4,077
3,620
Lease liabilities
590
820
Taxes payable
1,060
741
Total current liabilities
39,130
46,031
Non-current liabilities
Lease liabilities
41
519
Other non-current liabilities
176
274
Total non-current liabilities
217
793
Total liabilities
39,347
46,824
Total shareholders’ deficits
(8,340)
(13,617)
Noncontrolling interests
149
332
Total deficits
(8,191)
(13,285)
Total liabilities and shareholders’
deficits
31,156
33,539
51TALK ONLINE EDUCATION GROUP
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(In thousands except for number of shares and per share data)
For the three months ended
For the six months ended
Jun. 30,
Mar. 31,
Jun. 30,
Jun. 30,
Jun. 30,
2023
2024
2024
2023
2024
US$
US$
US$
US$
US$
Net revenues
6,260
9,446
10,960
11,812
20,406
Cost of revenues
(1,354)
(2,128)
(2,400)
(2,596)
(4,528)
Gross profit
4,906
7,318
8,560
9,216
15,878
Operating expenses
Sales and marketing expenses
(5,109)
(7,728)
(7,335)
(9,550)
(15,063)
Product development expenses
(694)
(945)
(851)
(1,356)
(1,796)
General and administrative expenses
(2,053)
(2,589)
(2,789)
(3,812)
(5,378)
Total operating expenses
(7,856)
(11,262)
(10,975)
(14,718)
(22,237)
Loss from operations
(2,950)
(3,944)
(2,415)
(5,502)
(6,359)
Interest income
36
82
63
69
145
Other (expenses)/income, net
(45)
141
1,131
(120)
1,272
Loss before income tax benefit/(expenses)
(2,959)
(3,721)
(1,221)
(5,553)
(4,942)
Income tax benefit/(expenses)
61
(22)
(41)
52
(63)
Net loss
(2,898)
(3,743)
(1,262)
(5,501)
(5,005)
Net loss attributable to noncontrolling
interests
–
(19)
(15)
–
(34)
Net loss attributable to the Company’s
ordinary shareholders
(2,898)
(3,724)
(1,247)
(5,501)
(4,971)
Weighted average number of ordinary shares
used in computing basic and diluted loss per
share
340,329,892
345,124,338
346,701,530
339,836,750
345,913,731
51TALK ONLINE EDUCATION GROUP
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(In thousands except for number of shares and per share data)
For the three months ended
For the six months ended
Jun. 30,
Mar. 31,
Jun. 30,
Jun. 30,
Jun. 30,
2023
2024
2024
2023
2024
US$
US$
US$
US$
US$
Net loss per share attributable to ordinary shareholders
Basic and diluted
(0.01)
(0.01)
(0.00)
(0.02)
(0.01)
Net loss per ADS attributable to ordinary shareholders
Basic and diluted
(0.51)
(0.65)
(0.22)
(0.97)
(0.86)
Share-based compensation expenses are included in the operating expenses as follows:
Sales and marketing expenses
(37)
(29)
(31)
(85)
(60)
Product development expenses
(36)
(33)
(24)
(90)
(57)
General and administrative expenses
(126)
(225)
(180)
(246)
(405)
51TALK ONLINE EDUCATION GROUP
Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures
(In thousands except for number of shares and per share data)
For the three months ended
For the six months ended
Jun. 30,
Mar. 31,
Jun. 30,
Jun. 30,
Jun. 30,
2023
2024
2024
2023
2024
US$
US$
US$
US$
US$
Sales and marketing expenses
(5,109)
(7,728)
(7,335)
(9,550)
(15,063)
Less: Share-based compensation expenses
(37)
(29)
(31)
(85)
(60)
Non-GAAP sales and marketing expenses
(5,072)
(7,699)
(7,304)
(9,465)
(15,003)
Product development expenses
(694)
(945)
(851)
(1,356)
(1,796)
Less: Share-based compensation expenses
(36)
(33)
(24)
(90)
(57)
Non-GAAP product development
expenses
(658)
(912)
(827)
(1,266)
(1,739)
General and administrative expenses
(2,053)
(2,589)
(2,789)
(3,812)
(5,378)
Less: Share-based compensation expenses
(126)
(225)
(180)
(246)
(405)
Non-GAAP general and administrative
expenses
(1,927)
(2,364)
(2,609)
(3,566)
(4,973)
Operating expenses
(7,856)
(11,262)
(10,975)
(14,718)
(22,237)
Less: Share-based compensation expenses
(199)
(287)
(235)
(421)
(522)
Non-GAAP operating expenses
(7,657)
(10,975)
(10,740)
(14,297)
(21,715)
Loss from operations
(2,950)
(3,944)
(2,415)
(5,502)
(6,359)
Less: Share-based compensation expenses
(199)
(287)
(235)
(421)
(522)
Non-GAAP loss from operations
(2,751)
(3,657)
(2,180)
(5,081)
(5,837)
51TALK ONLINE EDUCATION GROUP
Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures
(In thousands except for number of shares and per share data)
For the three months ended
For the six months ended
Jun. 30,
Mar. 31,
Jun. 30,
Jun. 30,
Jun. 30,
2023
2024
2024
2023
2024
US$
US$
US$
US$
US$
Income tax benefit/(expenses)
61
(22)
(41)
52
(63)
Less: Tax impact of Share-based compensation
expenses
–
–
–
–
–
Non-GAAP income tax benefit/(expenses)
61
(22)
(41)
52
(63)
Net loss attributable to the Company’s ordinary
shareholders
(2,898)
(3,724)
(1,247)
(5,501)
(4,971)
Less: Share-based compensation expenses
(199)
(287)
(235)
(421)
(522)
Non-GAAP net loss attributable to the
Company’s ordinary shareholders
(2,699)
(3,437)
(1,012)
(5,080)
(4,449)
Weighted average number of ordinary shares used
in computing basic and diluted loss per share
340,329,892
345,124,338
346,701,530
339,836,750
345,913,731
Non-GAAP net loss per share attributable to ordinary shareholders
Basic and Diluted
(0.01)
(0.01)
(0.00)
(0.01)
(0.01)
Non-GAAP net loss per ADS attributable to ordinary shareholders
Basic and Diluted
(0.48)
(0.60)
(0.18)
(0.90)
(0.77)
View original content:https://www.prnewswire.com/news-releases/51talk-online-education-group-announces-second-quarter-2024-results-302229388.html
SOURCE 51Talk Online Education Group
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Non-Axon trademarks are the property of their respective owners. Axon, TASER and the Delta Logo are trademarks of Axon Enterprise, Inc., some of which are registered in the US and other countries. For more information, visit www.axon.com/legal. All rights reserved.
Please visit https://investor.axon.com and https://www.axon.com/newsroom for more information.
Media Contact:
Kate MacKinnon
Vice President, Communications
press@axon.com
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The article explains why smart geometry, not thicker walls, creates stronger, more efficient aluminum components.
ROCHESTER, N.Y., Oct. 24, 2026 /PRNewswire/ — What early design choice causes many custom aluminum projects to become heavier, costlier, or harder to manufacture? That question is addressed in a HelloNation article featuring insights from Custom Fabrication Expert Mark Coyle of American Custom Metals, Inc. in Rochester, New York, that outlines how misunderstanding aluminum behavior leads designers to rely on thick walls instead of stronger geometry.
The article begins by explaining that many people assume thicker walls automatically make aluminum parts stronger. It notes that aluminum does not respond to wall thickness the way steel does. Instead, its performance is shaped by how the metal flows through the extrusion die. The article states that custom aluminum design is more effective when profiles use ribs, chambers, and flanges to create stiffness without adding unnecessary weight. This guidance helps readers understand why adding material often increases cost without improving strength.
The article also highlights that thicker walls change how aluminum moves during extrusion. When heavy areas fill more slowly, the metal cools unevenly and can develop stress that only appears later. The HelloNation piece explains that well-balanced geometry keeps extrusion smooth and predictable. This consistency makes it easier to maintain dimensional accuracy across long production runs. By focusing on geometry, custom aluminum design avoids the problems that come with slow extrusion speeds and uneven cooling.
Another insight in the article centers on how ribs and internal supports influence stability. It describes how a thin wall supported by a properly placed rib often performs better than a thick wall with no reinforcement. This happens because the rib helps distribute load, improve stiffness, and guide the aluminum as it cools. The article explains that this structural approach makes custom aluminum design more efficient and gives designers more control over how the final part behaves under pressure.
The article also shows why early collaboration between designer and fabricator prevents costly changes. It states that a fabricator familiar with extrusion can catch potential issues before a die is built. Small adjustments to corners or transitions can remove weak points or improve metal flow. The article notes that this teamwork keeps the design aligned with real-world production. By working together early, both sides reduce the risk of redesigning the die after the first test run.
Machining is another area where the article explains how wall thickness affects performance. Features such as deep pockets or sharp internal angles may require slow feed rates or special tooling. When walls are thicker than needed, those areas can become difficult to machine cleanly. The article states that thoughtful custom aluminum design makes machining more predictable. Small changes, such as adding radiused edges or sizing features to match standard tools, help shorten cycle times and prevent tool wear.
Thermal behavior receives detailed attention as well. The article explains that aluminum retains heat differently depending on the mass of each section. Thicker walls hold heat longer, which increases the chance of distortion during extrusion, machining, or finishing. When a design uses geometry to create strength, the material cools more evenly. This reduces warping and helps long profiles stay aligned. The article notes that stable cooling is important for components that require a precise fit and consistent shape throughout an entire production run.
Cost is also a key topic in the article. It states that heavier profiles increase material use, extrusion time, and tooling needs. A custom aluminum design that relies on geometry instead of mass lowers material consumption and keeps the fabrication process efficient. The article explains that lighter parts are easier to handle, ship, and assemble. This saves money across multiple stages of production and supports long-term manufacturing efficiency.
The article also notes that smart custom aluminum design creates profiles that behave predictably during extrusion and machining. Smooth transitions, balanced wall dimensions, and structural features help reduce the chance of distortion or dimensional drift. These elements also lower scrap rates and support reliable performance. By using geometry instead of excess material, designers build parts that maintain strength without compromising manufacturability.
As the article concludes, it emphasizes that avoiding thick walls is one of the best ways to improve performance and lower cost. It states that the most dependable custom aluminum components come from designs that use structural features to strengthen the profile. When designers understand how aluminum behaves at each stage of extrusion and machining, they create parts that are strong, efficient, and consistent from batch to batch. This approach turns custom aluminum design into a predictable process rather than a series of uncertain adjustments.
A Common Mistake in Custom Aluminum Design features insights from Mark Coyle, Custom Fabrication Expert of Rochester, NY, in HelloNation.
About HelloNation
HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.
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SOURCE HelloNation
Technology
World Young Scientist Summit 2026 Opens in Wenzhou, Zhejiang
Published
5 hours agoon
October 24, 2026By
WENZHOU, China, Oct. 24, 2026 /PRNewswire/ — This is a report by China Daily:
On October 24, the World Young Scientist Summit 2026 opened in Wenzhou, Zhejiang. The event is hosted by the China Association for Science and Technology (CAST), the Zhejiang Provincial People’s Government, and the World Association of Young Scientists. Nearly 800 representatives, including scientists, educators, and entrepreneurs from more than 60 countries and regions, are attending the summit.
He Junke, Vice President of CAST in charge of daily work and First Secretary of its Secretariat; Lian Yimin, Chairman and Party Group Secretary of the Zhejiang Provincial Committee of the Chinese People’s Political Consultative Conference; Marcelo Knobel, Executive Director of The World Academy of Sciences; and Zhang Zhenfeng, Member of the Standing Committee of the CPC Zhejiang Provincial Committee and Secretary of the CPC Wenzhou Municipal Committee, attended the summit and delivered remarks. Yao Gaoyuan, Vice Governor of the Zhejiang Provincial People’s Government, presided over the first segment of the plenary session.
With the theme “Gathering Talents Worldwide to Create a Better Future,” the summit’s annual agenda is “Global Youth Action in the AI Era: Building a Sustainable Future.” It aims to draw on the insights of young people around the world, deepen international sci-tech cooperation, and jointly address questions about young people, science, the world and the future.
Efim Zelmanov, Fields Medalist and Foreign Member of the Chinese Academy of Sciences; Chen Yunji, Deputy Director of the Institute of Computing Technology, CAS, and Director of the National Key Laboratory of Processor Chips; Mary Garson, President of the International Union of Pure and Applied Chemistry; and Lu Chaoyang, Member of the Standing Committee of CAST, Executive Dean of the Shanghai Institute of Advanced Study, University of Science and Technology of China, and Chairman of the Council of the World Association of Young Scientists, delivered keynote speeches respectively on education reform in the AI era, AI and processor chips, young women scientists’ participation in science, and quantum computing. They explored new opportunities for scientific research, talent cultivation, and international cooperation in the AI era.
This year’s summit placed greater emphasis on the growth needs of young scientists, with young talents under the age of 45 accounting for 88 percent of participants. It aimed to build a cluster of international journals, bring together young scientific talent, facilitate a batch of international collaborative projects and advance the application and commercialization of scientific and technological achievements. The summit released the Report on the Distribution and Mobility of Young Scientists in the Field of Embodied Intelligence, launched the World Young Scientist Summit Partner Journal Program and the 2026 World Young Scientist Innovation and Entrepreneurship Growth Support Program. It also published the “Young Scientist Pioneers 2035” list and announced the 2026 Sustainable Development Young Scientist Award. The awards were presented to four Chinese and foreign scientists.
Chen Tianrun, Founder of Hangzhou Moxin Technology Co., Ltd.; Yuan Yang, Assistant to the Dean of the Institute for Interdisciplinary Information Sciences at Tsinghua University; and two of the 2026 Sustainable Development Young Scientist Award winners, César de la Fuente and Nicola Segata, among other Chinese and foreign young scientist representatives, spoke at the flash-talk session to share their research practices and reflections.
In addition, the conference focused on fields such as future manufacturing, quantum information, embodied intelligence, brain-computer intelligence, environmental science, deep-sea resources, and life and health, and held 12 parallel forums. It also included the “Gravitation π” Future Technology and Concept Products Exhibition and Exchange, local thematic side events, and sci-tech and humanities study visits, further building an interdisciplinary, cross-regional and cross-sector platform for youth sci-tech exchange and cooperation.
View original content to download multimedia:https://www.prnewswire.com/news-releases/world-young-scientist-summit-2026-opens-in-wenzhou-zhejiang-302918664.html
SOURCE China Daily
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