Technology
Youxin Technology Ltd Reports Financial Results for Fiscal Year 2024
Published
1 year agoon
By
GUANGZHOU, China, Jan. 30, 2025 /PRNewswire/ — Youxin Technology Ltd (Nasdaq: YAAS) (the “Company” or “Youxin Technology”), a software as a service (“SaaS”) and platform as a service (“PaaS”) provider committed to helping retail enterprises digitally transform their businesses, today announced its financial results for the fiscal year ended September 30, 2024.
Mr. Shaozhang Lin, Chief Executive Officer of Youxin Technology Ltd, commented, “The past year underscores our diligent strategic adjustments and significant efforts to enhance operational efficiency amid macroeconomic headwinds and challenges in China. We successfully improved our gross margins by 5% to 66% overall in fiscal year 2024 from 61% in fiscal year 2023, despite a decline in revenue due to our strategic shift from developing the customized CRM systems toward developing and marketing our third-generation PaaS platform. As PaaS products generally feature more functionalities in contrast to the more hands-on personnel efforts required for customized CRM development services, we managed to reduce operating expenses and increase efficiency. This improvement reflects better cost control, reduced focus on less profitable service lines, and a pivot toward an upgraded portfolio of solutions. Overall, we reduced our net loss by 45.3%, from $2.34 million in fiscal year 2023 to $1.28 million in fiscal year 2024, while maintaining adequate cash reserves to support product development and strategic execution. We remain optimistic about the growth potential and profitability outlook of our third-generation PaaS platform, which is poised for significant enhancements through AI integration in 2025.”
Mr. Lin continued, “Looking ahead, we are confident that our strategic shift, supported by substantial investment, positions us for a turnaround and long-term growth. Our prudent planning, disciplined management, and strict cost controls will further enhance our operational efficiency and financial stability, ultimately delivering long-term value for the Company and our shareholders.”
Fiscal Year 2024 Financial Overview
Revenue was $521,241 in fiscal year 2024, compared to $895,978 in fiscal year 2023.Gross profit was $341,593 in fiscal year 2024, compared to $543,302 in fiscal year 2023.Gross margin was 66% in fiscal year 2024, an increase from 61% in fiscal year 2023.Net loss was $1.3 million in fiscal year 2024, compared to $2.3 million in fiscal year 2023.
Fiscal Year 2024 Financial Results
Revenues
Total revenues were $521,241 in fiscal year 2024, or a decrease of 42% from $895,978 in fiscal year 2023. The decrease was mainly because the Company gradually reduced operating the customized CRM system development services.
For the years ended September 30,
2024
2023
($)
Revenue
Cost of
Revenue
Gross
Margin
Revenue
Cost of
Revenue
Gross
Margin
Professional
services
275,314
158,880
42
%
548,822
318,439
42
%
Payment channel
services
206,526
–
100
%
291,643
–
100
%
Others
39,401
20,768
47
%
55,513
34,237
38
%
Total
521,241
179,648
66
%
895,978
352,676
61
%
Revenue from professional services was $275,314 in fiscal year 2024, or a decrease of 50% from $548,822 in fiscal year 2023.
The Company did not generate revenue from customized CRM system development services in fiscal year 2024. Revenue from customized CRM system development services was $134,768 in fiscal year 2023. The decrease was mainly due to the Company gradually reducing operating Customized CRM system development service.Revenue from the additional function development services was $42,758 in fiscal year 2024, or a decrease of 73% from $155,904 in fiscal year 2023. The decrease was mainly due to the less new needs of the function development from the existing clients for fiscal year 2024.Revenue from subscription services was $232,556 in fiscal year 2024, or a decrease of 10% from $258,150 in fiscal year 2023. The decrease was mainly due to the decreasing customized CRM system development services from 2023, which led to the Company to provide less subscription service in the following periods.
Cost of Revenues
Cost of revenues was $179,648 in fiscal year 2024, a decrease of 49% from $352,676 in fiscal year 2023.
Gross Profit
Gross profit was $341,593 in fiscal year 2024, compared to $543,302 in fiscal year 2023.
Gross margin was 66% in fiscal year 2024, an increase from 61% in fiscal year 2023.
Operating Expenses
Operating expenses were $1.7 million in fiscal year 2024, compared to $3.0 million in fiscal year 2023.
Selling expenses were $94,481 in fiscal year 2024, a decrease of 58% from $225,926 in fiscal year 2023. The decrease was mainly due to the decrease in headcount and salaries and welfare. The decrease of salaries and welfare by 59% was primarily due to a decrease in headcount and pay cuts for fiscal year 2024, compared to fiscal year 2023.General and administrative expenses were $496,006 in fiscal year 2024, a decrease of 16% from $589,372 in fiscal year 2023. The decrease was primarily due to a decrease in salaries and welfare of 46% compared to fiscal year 2023 as decrease in headcount and pay cuts.Research and development expenses were $1.1 million in fiscal year 2024, a decrease of 47% from $2.2 million in fiscal year 2023. The decrease was primarily attributed to the decrease in labor related costs including salary and welfare by 47% for fiscal year 2024 compared to fiscal year 2023. Payment made to Cloud Service and other related research and development costs decreased by 43% for fiscal year 2024, which was in line with the operating of business of reducing of CRM development services.
Other Income, Net
Total net other income was $113,367 in fiscal year 2024, compared to $81,360 in fiscal year 2023.
Net Loss
Net loss was $1.3 million in fiscal year 2024, compared to a net loss of $2.3 million in fiscal year 2023.
Basic and Diluted Loss per Share
Basic and diluted loss per share was $0.04 in fiscal year 2024, compared to $0.09 in fiscal year 2023.
Financial Condition
As of September 30, 2024, the Company had cash of $18,372, compared to $399,050 as of September 30, 2023.
Net cash used in operating activities was $728,066 in fiscal year 2024, compared to $2,310,183 in fiscal year 2023.
Net cash provided by investing activities was $360 in fiscal year 2024, compared to $815 in fiscal year 2023.
Net cash provided by financing activities was $431,390 in fiscal year 2024, compared to $484,878 in fiscal year 2023.
Recent Development
The Company’s Class A ordinary shares began trading on the Nasdaq Capital Market on December 20, 2024 under the ticker symbol “YAAS.” On December 23, 2024, the Company completed its initial public offering (the “Offering”) of 2,300,000 Class A ordinary shares at a public offering price of US$4.50 per Class A ordinary share. The Company received aggregate gross proceeds of US$10.35 million from the Offering, before deducting underwriting discounts and other related expenses payable by the Company.
About Youxin Technology Ltd
Youxin Technology Ltd is a SaaS and PaaS provider committed to helping retail enterprises digitally transform their businesses using its cloud-based SaaS product and PaaS platform to develop, use and control business applications without the need to purchase complex IT infrastructure. Youxin Technology provides a customized, comprehensive, fast-deployment omnichannel digital solutions that unify all aspects of commerce with store innovations, distributed inventory management, cross-channel data integration, and a rich set of ecommerce capabilities that encompass mobile applications, social media, and web-based applications. The Company’s products allow mid-tier brand retailers to use offline direct distribution to connect the management team, distributors, salespersons, stores, and end customers across systems, apps, and devices. This provides retailers with a comprehensive suite of tools to instantly address issues using real-time sales data. For more information, please visit the Company’s website: https://ir.youxin.cloud.
Cautionary Note Regarding Forward-Looking Statements
The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation the Company’s statements regarding the Company’s product development and business prospects, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the security laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
For investor and media inquiries, please contact:
Youxin Technology Ltd.
Investor Relations Department
Email: ir@youxin.cloud
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
YOUXIN TECHNOLOGY LTD
CONSOLIDATED BALANCE SHEETS
AS OF SEPTEMBER 30, 2024 AND 2023
(Expressed in U.S. dollars, except for the number of shares)
September
30, 2024
September
30, 2023
ASSETS
CURRENT ASSETS
Cash
$
18,372
$
399,050
Restricted cash
24,649
–
Accounts receivable, net
176,607
233,481
Prepaid expenses and other current assets
122,676
140,696
Total current assets
342,304
773,227
NON-CURRENT ASSETS
Property and equipment, net
3,948
11,696
Deferred offering costs
478,108
117,215
Operating lease right-of-use assets
123,170
85,662
Other non-current assets
10,608
27,558
Total non-current assets
615,834
242,131
TOTAL ASSETS
$
958,138
$
1,015,358
LIABILITIES
CURRENT LIABILITIES
Short-term bank loan
$
323,472
$
311,129
Accounts payable
31,350
52,448
Contract liabilities
215,768
166,628
Amount due to related parties
1,067,119
274,836
Operating lease liabilities – current
42,277
85,082
Payroll payable
1,869,436
1,465,220
Accrued expenses and other current liabilities
40,299
21,192
Total current liabilities
3,589,721
2,376,535
Operating lease liabilities – non-current
82,674
363
Total non-current liabilities
82,674
363
TOTAL LIABILITIES
$
3,672,395
$
2,376,898
COMMITMENTS AND CONTINGENCIES
–
–
SHAREHOLDERS’ DEFICIT
Class A ordinary shares, ($0.0001 par value, 400,000,000 shares
authorized, 22,304,693 shares issued and outstanding as of September
30, 2024 and 2023, respectively)
2,230
2,230
Class B ordinary shares, ($0.0001 par value, 100,000,000 shares
authorized, 8,945,307 shares issued and outstanding as of September 30,
2024 and 2023, respectively)
895
895
Share subscription receivables
(3,125)
(3,125)
Additional paid-in capital
12,154,929
12,154,929
Accumulated deficit
(15,419,765)
(14,139,104)
Accumulated other comprehensive income
550,579
622,635
Total shareholders’ deficit
(2,714,257)
(1,361,540)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT
$
958,138
$
1,015,358
YOUXIN TECHNOLOGY LTD
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
FOR THE YEARS ENDED SEPTEMBER 30, 2024, 2023 AND 2022
(Expressed in U.S. dollars, except for the number of shares)
2024
2023
2022
Years Ended September 30,
2024
2023
2022
REVENUES
$
521,241
$
895,978
$
1,277,066
COST OF REVENUES
(179,648)
(352,676)
(581,339)
GROSS PROFIT
341,593
543,302
695,727
OPERATING EXPENSES
Selling expenses
(94,481)
(225,926)
(934,744)
General and administrative expenses
(496,006)
(589,372)
(1,276,127)
Research and development expenses
(1,139,922)
(2,152,602)
(5,257,256)
Total operating expenses
(1,730,409)
(2,967,900)
(7,468,127)
NET LOSS FROM OPERATIONS
(1,388,816)
(2,424,598)
(6,772,400)
OTHER INCOME, NET
Other income
134,802
99,053
349,797
Other expense
(21,435)
(17,693)
(34,280)
Total other income, net
113,367
81,360
315,517
NET LOSS BEFORE TAXES
(1,275,449)
(2,343,238)
(6,456,883)
Income tax expense
(5,212)
–
–
NET LOSS
(1,280,661)
(2,343,238)
(6,456,883)
Accretion to redeemable preferred equity
–
(326,837)
(605,659)
Net loss attributable to ordinary shareholders
(1,280,661)
(2,670,075)
(7,062,542)
NET LOSS
(1,280,661)
(2,343,238)
(6,456,883)
Other comprehensive loss
Foreign currency translation (loss) income
(72,056)
(212,292)
895,745
TOTAL COMPREHENSIVE LOSS
$
(1,352,717)
$
(2,555,530)
$
(5,561,138)
Basic and diluted loss per share
$
(0.04)
$
(0.09)
$
(0.27)
*Weighted average number of ordinary shares
outstanding – basic and diluted
31,335,616
28,204,585
25,931,452
* Giving retroactive effect to the issuance of shares effected on April 21, 2023.
YOUXIN TECHNOLOGY LTD
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED SEPTEMBER 30, 2024, 2023 AND 2022
(Expressed in U.S. dollars, except for the number of shares)
2024
2023
2022
Years Ended September 30
2024
2023
2022
Cash flows from operating activities
Net loss
$
(1,280,661)
$
(2,343,238)
$
(6,456,883)
Adjustments to reconcile net loss to cash used in
operating activities:
Loss (gain) on disposal of property and equipment
572
(357)
–
Amortization of right-of-use assets
101,888
204,715
481,504
Depreciation
6,816
12,293
14,717
Credit loss provision
4,664
–
–
Loss from termination of right-of-use assets
183
369
–
Changes in assets and liabilities
Accounts receivable
52,210
94,595
(16,181)
Prepaid expenses and other current assets
18,020
69,605
(87,583)
Deferred contract costs
–
30,192
(7,184)
Other non-current assets
16,950
28,368
24,131
Accounts payable
(21,098)
(14,007)
27,495
Operating lease liabilities
(100,073)
(207,881)
(507,521)
Payroll Payable
404,216
102,096
1,040,790
Accrued expenses and other current liabilities
19,107
(18,026)
(4,532)
Contract liabilities
49,140
(268,907)
217,491
Net cash used in operating activities
(728,066)
(2,310,183)
(5,273,756)
Cash flows from investing activities
Purchase of property and equipment
–
–
(1,618)
Proceeds from dispose of property and equipment
360
815
–
Repayment from a related party
–
–
768,380
Net cash provided by investing activities
360
815
766,762
Cash flows from financing activities
Loan from related parties
792,283
284,292
–
Proceeds from short-term bank loan
–
321,834
–
Payment of deferred offering cost
(360,893)
(121,248)
–
Net cash provided by financing activities
431,390
484,878
–
Effect of exchange rates on cash and cash equivalents
and restricted cash
(59,713)
5,194
(312,986)
Net decrease in cash and cash equivalents and
restricted cash
(356,029)
(1,819,296)
(4,819,980)
Cash and cash equivalents at beginning of year
399,050
2,218,346
7,038,326
Cash and cash equivalents and restricted cash at end
of year
$
43,021
$
399,050
$
2,218,346
Cash and cash equivalents
18,372
399,050
1,802,236
Restricted cash
24,649
–
416,110
Cash and cash equivalents and restricted cash at end
of year
43,021
399,050
$
2,218,346
Cash paid for interest expenses
$
10,237
$
257
$
–
Cash paid for income tax
$
–
$
–
$
–
Supplemental disclosure of non-cash financing
activities:
Accretion to redeemable preferred equity
$
–
$
326,837
$
605,659
Exchange redeemable preferred equity with Class A
ordinary shares
$
–
$
12,154,929
$
–
Operating lease right-of-use assets obtained in exchange
for operating lease liabilities
$
140,844
$
–
$
–
View original content:https://www.prnewswire.com/news-releases/youxin-technology-ltd-reports-financial-results-for-fiscal-year-2024-302364912.html
SOURCE Youxin Technology Ltd
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Study Finds 76% of Coupon Codes Work at Checkout
NEW YORK, July 18, 2026 /PRNewswire-PRWeb/ — Multi-country research across 11 regions finds that most coupon code failures were not due to expired codes, but to terms and conditions shoppers did not check before checkout.
A new study testing 1,000 coupon codes across 11 countries found that three in four online discount codes applied successfully at checkout, while the remaining failures were tied more often to unmet terms than to expired or invalid codes.
The research was conducted by CouponDopa, a multi-regional coupon platform operating in 11 countries. Codes were tested across multiple retail categories in July 2026 to measure real checkout success rates.
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Organization: Coupondopa
Contact Person Name: Anderson Joe
Website: https://www.coupondopa.com/
Email: info@coupondopa.com
Contact Number: +1 (530) 269-6377
Address: 165 ithaca Bayshore NY, 11706 USA
City: Bay Shore
State: NY
Country: United States
Media Contact
Anderson Joe, Coupondopa, 1 631 404-9968, coupondopa@gmail.com, https://www.coupondopa.com/
View original content:https://www.prweb.com/releases/76-of-coupon-codes-work-at-checkout-but-most-failures-trace-back-to-terms-shoppers-never-read-coupondopa-study-finds-302828186.html
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Strategic guidance
According to the two separate official releases by Xinhua, during his meetings with the prime ministers of Thailand and Cambodia, President Xi spoke of the long-standing friendship China shares with both nations. He called on China and Thailand, as well as China and Cambodia, to join hands to advance the development of their respective communities with a shared future.
Furthermore, the Chinese leader stressed the need for China to expand pragmatic cooperation with Thailand and Cambodia respectively across traditional and emerging sectors, and work with each country to jointly crack down on cross-border crimes such as online gambling and telecom fraud, according to Xinhua.
He called for the proper handling of border frictions between Thailand and Cambodia and called on the two sides to resolve disputes through dialogue and consultation, with China standing ready to continue playing a constructive role in this regard, per Xinhua.
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In his meeting with UN Secretary-General Antonio Guterres on Friday, Xi reiterated China’s firm support for the UN.
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Guterres commended China for its steadfast support for multilateralism, the cause of the UN, and international cooperation, saying that China has set an example for the world.
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This article first appeared on Global Times
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SOURCE Global Times
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Published
5 hours agoon
July 18, 2026By
BEIJING, July 17, 2026 /PRNewswire/ — “AI development should not be a solo performance by a single country, but a symphony of international cooperation,” Chinese President Xi Jinping said on Friday while addressing the opening ceremony of the 2026 World AI Conference (WAIC) and High-Level Meeting on Global AI Governance, stressing that China is ready to be more open, take more practical actions, and assume a more visionary perspective.
We are ready to work with all parties to seize the opportunities of AI development and meet the challenges, and join hands to create a brighter future for humanity, he added.
Xi’s remarks received positive responses from domestic and foreign enterprises and experts, as they spoke highly of China’s scientific and technological achievements in recent years while noting that China’s commitment to openness and cooperation can help ensure that the benefits of AI are shared by all humanity and Chinese solutions in AI governance enable other countries to better tackle the common challenges brought about by AI development.
Openness and win-win cooperation
Xi presented four observations on AI development and governance in the speech. The Chinese leader called for adhering to the principle of openness and win-win cooperation while boosting innovation-driven development. He highlighted the importance of encouraging open-source, openness, collaboration and sharing to facilitate technological innovation, industrial development and scenario-based application of AI.
He also called for strengthening risk-awareness and ensuring that AI is secure and controllable. Stressing the need to ensure that AI is always under human control, Xi urged all sides to jointly oppose overstretching the national security concept in the field of AI or placing one country’s security over that of others.
Third, he called for encouraging inclusiveness and promoting mutual learning among civilizations.
Fourth, he called for advocating solidarity and improving global governance. The important role of the United Nations should be recognized, Xi said, calling for further alignment and coordination on AI development strategies, governance rules and technical standards.
“We must carry out extensive international cooperation and help Global South countries with capacity building to bridge the AI and digital divides, promote sustainable development and prevent creating new historical injustice in AI,” he said.
In the next five years, China will provide developing countries with 5,000 opportunities in AI training and seminar programs, Xi said. He said China will develop international AI application cooperation centers with the Association of Southeast Asian Nations, the League of Arab States, the African Union, the Community of Latin American and Caribbean States, the Shanghai Cooperation Organization, and BRICS. China will enable 30 countries to use the AI-powered meteorological warning system, or MAZU, to safeguard homes around the world.
“President Xi’s remarks underscore China’s commitment to advancing global AI governance and technological innovation through opening-up and win-win cooperation, bringing new opportunities for sharing AI dividends and achieving shared prosperity to countries worldwide, especially developing countries,” Song Yang, professor of School of Economics and research fellow at the National Academy of Development and Strategy at Renmin University of China, told the Global Times on Friday.
China is sending a clear and important message: AI should become a bridge between countries, not a new dividing line, Luigi Gambardella, president of the Brussels-based international digital association ChinaEU, told the Global Times on Friday on the sidelines of the forum.
“No country, however technologically advanced, can develop and govern AI alone. China’s commitment to openness and cooperation can help ensure that the benefits of AI are shared by all humanity. It can help prevent the fragmentation of technologies, standards and markets, while ensuring that the opportunities created by AI are shared more widely,” Gambardella said.
“President Xi proposed ‘adhering to the principle of openness and win-win cooperation’ and ‘advocating solidarity’, and announced a series of pragmatic measures to support global AI development. These remarks have deeply inspired me and further strengthened my confidence in promoting the inclusive development of AI through opening-up and cooperation,” Xu Li, chairman and CEO of Shanghai-based AI software company SenseTime, told the Global Times on Friday.
Looking ahead, SenseTime aims to bring more field-tested technologies, products, and talent cultivation expertise to more countries and regions, and boost “China innovation” to deliver sustained value across a wider spectrum of industrial scenarios, thereby enabling AI to better benefit all of humanity, Xu said.
China actively supports strengthening global cooperation on AI governance, advocates multilateralism, and promotes the establishment of a global governance framework, which has received positive responses from many Global South countries.
Twenty-nine countries on Thursday signed an agreement in Shanghai on establishing the World Artificial Intelligence Cooperation Organization (WAICO). As an independent intergovernmental international organization headquartered in Shanghai, WAICO will uphold the purposes of the UN Charter, be committed to extensive consultation and joint contribution for shared benefit and adhere to a people-centered approach, according to the agreement, per Xinhua.
Global spotlight on WAIC
Since its inception in 2018, the WAIC has successfully convened for eight consecutive editions, becoming an important window for showcasing cutting-edge AI technologies from China and around the world while deepening international opening-up and cooperation.
Themed “AI Partnership for a Brighter Future”, the exhibition area exceeds 100,000 square meters for the first time this year, attracting the participation of over 1,100 enterprises. The exhibitors are showcasing more than 3,000 products and technologies, with over 300 products making their global debuts.
Among the exhibition highlights are Huawei’s latest AI computing super node system Atlas 950, MiniMax M3 multimodal foundation model, and the world’s first agentic AI phone, alongside a range of humanoid robots and AI-powered dexterous hands.
A German BMW representative, who attended WAIC for the first time, expressed enthusiasm about the event, highlighting the humanoid robotics showcased in the exhibition area – technologies he said he has never encountered before.
The representative told the Global Times that his company has adopted Chinese AI-powered large language models such as Qwen and DeepSeek. “The new updated versions of these models emerge weekly, which is very impressive,” the representative said, speaking highly of the cost efficiency of Chinese models.
However, some Western media outlets keep smearing China’s AI advancements and international cooperation. The Economist even claims that China’s open-source AI is a “trap” and that embracing China is “risky.”
Debunking this groundless smearing, Song said that China’s AI development has consistently adhered to the philosophy of a people-centered approach and AI for good, accumulating a wealth of vivid, replicable, and scalable experiences.
At the opening ceremony of the WAIC, the China Meteorological Administration unveiled the MAZU-FengYun Satellite AI Box. The launch marks a new stage in MAZU’s intelligent early-warning initiative, which was unveiled last year, shifting from providing shared meteorological products to delivering AI-enabled forecasting capabilities, according to the administration.
“Over the past year, meteorological and disaster reduction agencies from more than 40 countries have accessed the MAZU early warning technologies and products via cloud platforms. Customized versions of the tool have been deployed in Nigeria, Djibouti, Pakistan, and other nations, earning widespread recognition from users,” You Yang, a staff member with the Shanghai Meteorological Bureau, told the Global Times on Friday.
“From base models to industry-specific applications, China is opening up its low-cost, replicable technological pathways to the world, thereby lowering the threshold for underdeveloped nations to enter the AI era. Meanwhile, China actively helps developing countries address gaps in technology, talent, and governance capabilities to bridge the digital divide in the age of intelligence,” Song said.
According to a March report from Hugging Face, one of the world’s largest AI open-source communities, China has surpassed the US in monthly downloads and overall downloads. In the past year, Chinese models quickly accounted for the plurality or 41 percent of downloads.
“China possesses three unique institutional advantages in promoting AI for good and inclusive development: First, the new system for nationwide mobilization of resources coordinates development and security, achieving synergistic progress in key technological breakthroughs and rule-making. Second, a people-centered approach ensures that technological advancement benefits the people. Third, a multi-stakeholder agile and collaborative governance model links governments, universities, research institutions, enterprises, and social organizations to explore the synergy between rules and technology, providing China’s experience to the world,” Zeng Yi, a member of the UN Advisory Body on AI, told the Global Times on Friday.
View original content:https://www.prnewswire.com/news-releases/global-times-china-sends-fresh-signal-on-global-ai-cooperation-at-waic-302828951.html
SOURCE Global Times
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